Dongguan Qinding Hardware Products Co., Ltd.
Pro Forma Consolidated Audit Report
Qin Xin Shen Zi [2026] No. 3521
Zhongqin Wanxin Certified Public Accountants (Special General Partnership)
Beijing, China
August 2026
Table of Contents
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Pro Forma Consolidated Audit Report 1-3
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Pro Forma Consolidated Financial Statements
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Pro Forma Consolidated Balance Sheet 4-5
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Pro Forma Consolidated Income Statement 6
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Notes to Pro Forma Consolidated Financial Statements 7-61
Address: 10th Floor, Sunshine Building, No. 112 Xizhimenwai Street, Beijing
Tel: (86-10) 68360123
Fax: (86-10) 68360123-3000
Postal Code: 100044
To the Shareholders of Dongguan Qinding Hardware Products Co., Ltd.:
I. Audit Opinion
We have audited the financial statements of Dongguan Qinding Hardware Products Co., Ltd. (hereinafter referred to as "Qinding Hardware"), which are prepared in accordance with the basis of preparation described in Note II to the pro forma consolidated financial statements, including the pro forma consolidated balance sheets as of April 30, 2026, and December 31, 2025, the pro forma consolidated income statements for the period from January to April 2026 and the year 2025, and notes to the pro forma consolidated financial statements.
In our opinion, the accompanying pro forma consolidated financial statements are prepared, in all material respects, in accordance with the basis of preparation described in Note II to the pro forma consolidated financial statements, and fairly present the pro forma consolidated financial position of Qinding Hardware as of April 30, 2026, and December 31, 2025, and its pro forma consolidated operating results for the period from January to April 2026 and the year 2025.
II. Basis for Audit Opinion
We conducted our audit in accordance with the Auditing Standards for Certified Public Accountants of China. Our responsibilities under those standards are further described in the "Certified Public Accountant's Responsibilities for the Audit of the Financial Statements" section of the audit report. In accordance with the "Code of Ethics for Certified Public Accountants of China No. 1 — Independence Requirements for Financial Statement Audit and Review Engagements" and the Code of Professional Ethics for Certified Public Accountants of China, we are independent of Qinding Hardware and have fulfilled our other professional ethical responsibilities. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
III. Emphasis of Matter — Basis of Preparation
We draw attention to Note II of the pro forma consolidated financial statements regarding the basis of preparation. Qinding Hardware has prepared these pro forma consolidated financial statements solely for the reference of the parties involved in the acquisition of Dongguan Qinding Hardware Products Co., Ltd. and its affiliate, Dongguan Xingding Hardware Products Co., Ltd., by Henan Kaiwang Electronic Technology Co., Ltd. Therefore, the pro forma consolidated financial statements may not be suitable for other purposes. This paragraph does not affect the audit opinion already expressed.
IV. Responsibilities of Management and Those Charged with Governance for the Financial Statements
The management of Qinding Hardware (hereinafter referred to as "Management") is responsible for preparing the pro forma consolidated financial statements in accordance with the basis of preparation described in Note II to the pro forma consolidated financial statements to achieve fair presentation, and for designing, implementing, and maintaining necessary internal controls to ensure that the pro forma consolidated financial statements are free from material misstatement, whether due to fraud or error.
In preparing the pro forma consolidated financial statements, Management is responsible for assessing Qinding Hardware's ability to continue as a going concern, disclosing matters related to going concern (if applicable), and using the going concern basis of accounting, unless Management intends to liquidate Qinding Hardware, cease operations, or has no other realistic alternative.