East Asia Securities Co., Ltd.
Review Opinion on the "GanZhou TengYuan Cobalt Industry Co., Ltd. 2025 Annual Internal Control Evaluation Report"
East Asia Securities Co., Ltd. (hereinafter referred to as "East Asia Securities"), as the sponsor of the initial public offering of GanZhou TengYuan Cobalt Industry Co., Ltd. (hereinafter referred to as "TengYuan Cobalt" or "the Company") on the ChiNext market, has, in accordance with the "Administrative Measures for Securities Issuance and Listing Sponsorship Business," the "Shenzhen Stock Exchange ChiNext Stock Listing Rules (2025 Revision)," the "Shenzhen Stock Exchange Listed Company Self-Regulatory Supervision Guidelines No. 2—ChiNext Listed Company Normative Operation (2025 Revision)," and other relevant regulations, conducted a review of the "GanZhou TengYuan Cobalt Industry Co., Ltd. 2025 Annual Internal Control Evaluation Report" (hereinafter referred to as the "Internal Control Evaluation Report"). The review findings and opinions are as follows:
I. Review Work Conducted by East Asia Securities
East Asia Securities communicated with the Company's internal audit department and the engaged accounting firm, reviewed the minutes and resolutions of shareholder meetings, board of directors meetings, and supervisory board meetings, as well as various business and management rules and regulations. The review assessed the completeness, reasonableness, and effectiveness of the Company's internal controls, as well as the truthfulness and objectivity of the "Internal Control Evaluation Report," from the perspectives of the internal control environment, internal control system construction, and internal control implementation.
II. Company's Internal Control Evaluation
(I) Scope of Internal Control Evaluation
The Company determined the main entities, businesses, and matters included in the evaluation scope, as well as high-risk areas, based on a risk-oriented approach. The main entities included in the evaluation scope are: the Company and its subsidiaries. The total assets of the entities included in the evaluation scope account for 100% of the Company's consolidated financial statement total assets, and the total operating revenue accounts for 100% of the Company's consolidated financial statement total operating revenue. The important businesses and matters included in the evaluation scope are: internal environment, risk assessment, control activities, information transmission and communication, and internal supervision, specifically including: