Verification Opinion on the Release of Restricted Shares
Dongfang Securities Co., Ltd. and Guotai Junan Securities Co., Ltd. (hereinafter referred to as "Independent Financial Advisors") have conducted a thorough review of the release and trading of restricted shares for Anhui Fulede Technology Development Co., Ltd. (hereinafter referred to as "Fulede" or "the Company") in accordance with relevant regulations including the "Administrative Measures for Major Asset Restructuring of Listed Companies," "Shenzhen Stock Exchange GEM Listing Rules," and "Self-Regulatory Guidelines No. 2 for Listed Companies on the Shenzhen Stock Exchange - Standardized Operations of GEM Listed Companies." The verification opinion is as follows:
1. Basic Situation of the Released Restricted Shares and Changes in Share Capital
(1) Basic Situation of the Released Restricted Shares
According to the China Securities Regulatory Commission's approval (Zheng Jian Xu Ke [2025] No. 1325), the Company has issued 21,939,831 ordinary shares to 13 specific investors, including Wuxi Jinchou Investment Management Co., Ltd. - Jinchou Research Selected Phase I Private Securities Investment Fund, Huafu Ruixing Investment Management Co., Ltd., and others, for the purpose of purchasing assets and raising supporting funds. The details of the issuance are as follows:
| No. | Issuance Object Name | Issued Shares (shares) | Listing Date | Lock-up Period (months) |
|---|---|---|---|---|
| 1 | Wuxi Jinchou Investment Management Co., Ltd. - Jinchou Research Selected Phase I Private Securities Investment Fund | 841,042 | September 4, 2025 | 6 |
| 2 | Huafu Ruixing Investment Management Co., Ltd. | 841,042 | September 4, 2025 | 6 |
| 3 | Lu Hua Dao Sheng (Beijing) Enterprise Management Development Co., Ltd. | 841,042 | September 4, 2025 | 6 |
| 4 | Taizhou City Investment Fengshou No. 1 Equity Investment Partnership (Limited Partnership) | 841,042 | September 4, 2025 | 6 |
| 5 | Wang Zixu | 869,077 | September 4, 2025 | 6 |
| 6 | Jinan Hanxiang Investment Partnership (Limited Partnership) | 841,042 | September 4, 2025 | 6 |
| 7 | China International Capital Corporation Limited | 1,009,251 | September 4, 2025 | 6 |
| 8 | Huatai Asset Management Co., Ltd. | 3,644,519 | September 4, 2025 | 6 |
| 9 | Nord Fund Management Co., Ltd. | 3,920,381 | September 4, 2025 | 6 |
| 10 | Hunan Light Salt Venture Capital Co., Ltd. - Light Salt Smart Selection No. 37 Private Securities Investment Fund | 2,114,662 | September 4, 2025 | 6 |
| 11 | GF Securities Co., Ltd. | 1,267,171 | September 4, 2025 | 6 |
| 12 | Huaan Securities Asset Management Co., Ltd. | 1,345,668 | September 4, 2025 | 6 |
| 13 | Caitong Fund Management Co., Ltd. | 3,563,892 | September 4, 2025 | 6 |
| Total | 21,939,831 |
On September 4, 2025, the newly issued shares will be listed on the Shenzhen Stock Exchange GEM, classified as restricted tradable shares, with a lock-up period of six months, allowing trading from March 4, 2026.