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Review Report
Grant Thornton Review Zi (2026) No. 110A017180
To the Shareholders of Hybcloud Technology Co., Ltd.:
We have reviewed the accompanying pro forma consolidated financial statements of Hybcloud Technology Co., Ltd. (hereinafter referred to as "Hybcloud"), which have been prepared in accordance with the basis and methods of preparation described in Note III to the pro forma consolidated financial statements, including the pro forma consolidated balance sheets as of December 31, 2024, and December 31, 2025, the pro forma consolidated income statements for the years 2024 and 2025, and the notes to the pro forma consolidated financial statements. The preparation of these pro forma consolidated financial statements in accordance with the Accounting Standards for Business Enterprises and the basis and methods of preparation described in Note III is the responsibility of Hybcloud's management. Our responsibility is to issue a review report on these financial statements based on our review work.
We conducted our review in accordance with the "Standard on Review Engagements No. 2101 — Review of Financial Statements" of the Chinese Institute of Certified Public Accountants. This standard requires that we plan and perform the review to obtain limited assurance as to whether the financial statements are free from material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data, and the level of assurance provided is lower than that of an audit. We have not performed an audit, and therefore, we do not express an audit opinion.
Based on our review, nothing has come to our attention that causes us to believe that the pro forma consolidated financial statements have not been prepared in accordance with the Accounting Standards for Business Enterprises and the basis and methods of preparation described in Note III, and that they have failed to fairly present, in all material respects, the pro forma financial position and pro forma operating results of Hybcloud.
This review report is intended solely for use in connection with the submission of materials for major asset restructuring to the China Securities Regulatory Commission and should not be used for any other purpose.
Grant Thornton (Special General Partnership) Beijing, China Date: April 29, 2026
Certified Public Accountant: Song Zhiyun (Project Partner) [blank] Certified Public Accountant: Dai Zhiyan [blank]
Pro Forma Consolidated Balance Sheet