CITIC Securities Company Limited
Independent Financial Advisor Verification Opinion on the Industrial Policy and Transaction Type of Shenzhen Minbao Optoelectronics Co., Ltd.'s Current Transaction
Shenzhen Minbao Optoelectronics Co., Ltd. (hereinafter referred to as "Minbao Optoelectronics" or the "Listed Company") intends to acquire 49% of the equity of Xiamen Xiazhi Precision Technology Co., Ltd. (hereinafter referred to as "Xiazhi Precision") through the issuance of shares (hereinafter referred to as the "Current Restructuring" or "Current Transaction").
CITIC Securities Company Limited (hereinafter referred to as "CITIC Securities" or the "Independent Financial Advisor"), as the independent financial advisor for this transaction, has conducted a special verification on whether the industry or enterprise involved in this transaction belongs to the industries or enterprises prioritized for support in mergers and acquisitions, whether it constitutes an intra-industry or upstream/downstream acquisition, whether it constitutes a restructuring and listing, whether it involves the issuance of shares, and whether the listed company is subject to any investigation by the China Securities Regulatory Commission (hereinafter referred to as the "CSRC") that has not yet been concluded. The opinions are as follows: