Everbright Securities Co., Ltd.
Audit Opinion on the Major Contract Signed by Everbright Securities Co., Ltd. for its Wholly-Owned Subsidiary for Computing Power Business Operations
Everbright Securities Co., Ltd. (hereinafter referred to as "Everbright Securities" or "Sponsor") is the sponsor for the initial public offering of shares of Fengzhu Co., Ltd. (hereinafter referred to as "Fengzhu" or "the Company") on the ChiNext market. In accordance with the "Administrative Measures for Securities Issuance and Listing Sponsorship," the "ChiNext Stock Listing Rules of the Shenzhen Stock Exchange," the "Shenzhen Stock Exchange Listed Company Self-Regulatory Supervision Guidelines No. 2 - Normative Operation of ChiNext Listed Companies," and the "Shenzhen Stock Exchange Listed Company Self-Regulatory Supervision Guidelines No. 13 - Sponsorship Business," and other relevant laws, regulations, and normative documents, Everbright Securities has investigated the ability of the parties to perform the major contract signed by Ya'an Yunzhi Computing Power Technology Co., Ltd. (hereinafter referred to as "Ya'an Yunsuan" or "Wholly-Owned Subsidiary"), a wholly-owned subsidiary of Fengzhu, for its daily operations. The details are as follows:
I. Contract Signing Overview
Ya'an Yunsuan and Company A have signed a "Computing Server Procurement Agreement" based on the principles of equality, voluntariness, fairness, and honesty. Company A will provide computing servers and networking equipment to Ya'an Yunsuan as per Ya'an Yunsuan's requirements. The information on networking equipment and payment for networking equipment will be further detailed in a supplementary agreement signed by both parties. As per Ya'an Yunsuan's request, Company A will deliver all products in batches, with a total contract amount of RMB 3,062,452,800 (including tax).
Ya'an Yunsuan and Company B have signed a "Computing Power Service Contract" based on the principles of complementary advantages and good faith. Ya'an Yunsuan will provide computing power services to Company B as per Company B's requirements. These services include server hardware, supporting cabinets, storage resources, network services (including China Mobile public network bandwidth 4G, excluding dedicated lines), and other computing power resource services, as well as corresponding supporting technical support services provided by Ya'an Yunsuan to ensure Company B's smooth use of computing power services. Ya'an Yunsuan will deliver computing power services in batches, with a total contract amount of RMB 4,608,000,000 (including tax). The contract period is from August 5, 2026, to August 4, 2031. Each batch of service period is 60 months, calculated from the billing start date of the batch. The billing start date shall be as indicated in the "Billing Confirmation Slip." If the contract expiration date is earlier than the expiration date of the last batch of services, the contract validity period will be extended to the expiration date of the last batch of services, and all rights and obligations of both parties to the contract will be fulfilled.
The above "Computing Server Procurement Agreement" and "Computing Power Service Contract" are both related to the company's computing power business and are collectively referred to as "Contracts."