Table of Contents
- Review Report…………………………………………………………… Page 1
- Pro Forma Consolidated Financial Statements……………………… Page 2—3
(1) Pro Forma Consolidated Balance Sheet………………………… Page 2
(2) Pro Forma Consolidated Income Statement…………………… Page 3 - Notes to Pro Forma Consolidated Financial Statements…………… Page 4—79
- Appendices…………………………………………………………… Page 80—83
(1) Copy of Business License……………………………………… Page 80
(2) Copy of Practice Certificate…………………………………… Page 81
(3) Copy of Signed CPA Certificate……………………………… Page 82-83
Review Report
Tianjian Audit [2026] No. 10135
To all shareholders of Hangzhou Tianyuan Pet Products Co., Ltd.:
We have reviewed the pro forma consolidated financial statements of Hangzhou Tianyuan Pet Products Co., Ltd. (hereinafter referred to as "Tianyuan Pet") prepared based on the foundation described in Note 3 of 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 accompanying notes to the pro forma consolidated financial statements. The preparation of the pro forma consolidated financial statements is the responsibility of Tianyuan Pet's management. Our responsibility is to issue a review report on the pro forma consolidated financial statements based on our review work.
We conducted our review in accordance with the standards for practicing certified public accountants in China. These standards require that we plan and perform the review to obtain limited assurance about whether the pro forma consolidated financial statements are free of material misstatement. A review is primarily limited to inquiries of Tianyuan Pet's personnel and analytical procedures applied to financial data, providing a lower level of assurance than an audit. We did not perform an audit and, accordingly, do not express an audit opinion.
Based on our review, we did not become aware of any matters that would lead us to believe that the pro forma consolidated financial statements of Tianyuan Pet were not prepared in accordance with the foundation described in Note 3 of the pro forma consolidated financial statements. We remind users of the statements to pay attention to the explanation of the preparation basis in Note 3 of the pro forma consolidated financial statements. This report is intended solely for the asset restructuring matters described in Note 2 of the pro forma consolidated financial statements and is not applicable for other purposes. This paragraph does not affect the published review opinion.
Tianjian Accounting Firm (Special General Partnership)
Certified Public Accountants of China: Hangzhou, China
Certified Public Accountants: April 24, 2026
Notes to Pro Forma Consolidated Financial Statements
Basic Information of the Company
Hangzhou Tianyuan Pet Products Co., Ltd. (hereinafter referred to as "the Company" or "this Company") was formerly known as Hangzhou Tianyuan Pet Products Co., Ltd. (hereinafter referred to as "Tianyuan Limited"). Tianyuan Limited was established by four individuals: Xue Yuanchao, Hu Hua, Xue Yali, and Xue Xiaolan, and was registered with the Yuhang Branch of the Hangzhou Administration for Industry and Commerce on June 11, 2003. The Company currently holds a business license with a unified social credit code of 91330110749489434P, with a registered capital of 126,902,800 yuan and a total of 126,902,800 shares (par value of 1 yuan per share). Among these, the restricted circulation shares are: A shares 76,279,046 shares; unrestricted circulation shares A shares 50,623,754 shares. With the approval of the China Securities Regulatory Commission regarding the registration of the initial public offering of shares of Hangzhou Tianyuan Pet Products Co., Ltd. (Zheng Jian Xu Ke [2022] No. 2042), the Company's shares were listed and traded on the Growth Enterprise Market of the Shenzhen Stock Exchange on November 18, 2022. This Company belongs to the other manufacturing industry. The main business activities are based on the design, development, production, and sales of pet products, actively expanding the sales of pet food, with products covering a wide range of pet products including pet beds, cat climbing frames, pet food, pet toys, pet clothing, electronic products, and more.