Guotai Junan Securities Co., Ltd.
Audit Report on Re-evaluation and Extension of Partial Fund-Raising Projects of Winderful Fluid Equipment Technology Co., Ltd.
Guotai Junan Securities Co., Ltd. (hereinafter referred to as "Guotai Junan" or "Sponsor") as the continuing sponsor institution of Winderful Fluid Equipment Technology Co., Ltd. (hereinafter referred to as "Winderful" or "Company"), in accordance with the "Administrative Measures for the Sponsorship Business of Securities Issuance and Listing," "Supervision Rules for the Management of Raised Funds of Listed Companies," "Shenzhen Stock Exchange GEM Stock Listing Rules," "Shenzhen Stock Exchange Listed Company Self-Regulatory Guidelines No. 13—Sponsorship Business," and "Shenzhen Stock Exchange Listed Company Self-Regulatory Guidelines No. 2—Norms for the Operation of GEM Listed Companies," and other relevant regulations, has prudently audited the re-evaluation and extension of some of Winderful's fund-raising projects. The specific situation is as follows:
I. Basic Situation of Raised Funds
According to the "Approval of the Registration of the Initial Public Offering of Shares of Winderful Fluid Equipment Technology Co., Ltd." (Zheng Jian Xu Ke [2022] No. 1241) issued by the China Securities Regulatory Commission, the Company issued 25,000,000.00 ordinary shares (A shares) to the public for the first time at an issue price of RMB 39.00 per share. The total amount of raised funds was RMB 975,000,000.00. After deducting underwriting and sponsorship fees of RMB 75,075,000.00 (excluding tax), the raised funds amounted to RMB 899,925,000.00. The net amount of raised funds after deducting all issuance expenses was RMB 861,313,391.40, of which the surplus funds were RMB 341,814,891.40. The above raised funds were all received on September 13, 2022, and were verified by Tianjian Certified Public Accountants (Special General Partnership), who issued the "Capital Verification Report" (Tianjian Yan [2022] No. 474). The Company has implemented special account management for the raised funds.
II. Situation of Raised Funds Investment Projects
(I) Basic Situation of Raised Funds Projects
The situation of the Company's raised funds projects and the planned investment amount of raised funds is as follows:
| Project Name | Planned Investment Amount (RMB 10,000) | Cumulative Investment Amount as of May 31, 2026 | Investment Progress (%) |
|---|---|---|---|
| Annual Production of 100 Million Valves and Hardware Construction Project | 49,486.57 | 36,591.68 | 73.94% |
| Annual Production of 42 Million Valves and Hardware Expansion Project (Vietnam) | 6,860.00 | 6,412.32 | Project Completed |
| R&D Center Construction Project | 4,505.41 | 350.91 | 7.79% |
| New Production Line Construction Project for 28 Million Valves and Hardware | 15,726.92 | 15,682.01 | Project Completed |
| Total | 76,578.90 | 59,036.92 | — |
Note: The investment in the "New Production Line Construction Project for 28 Million Valves and Hardware" was USD 22 million. Converted to RMB at the exchange rate of USD/RMB 7.1486 on the date of the fourth meeting of the third board of directors, the total investment in RMB was RMB 15,726.92 million.
(II) Situation of Raised Funds Deposit and Account Balance
As of May 31, 2026, the Company's total balance in special deposit accounts for raised funds in various banks was RMB 201,345,813.67. The specific situation of each account is as follows: