Legal Opinion
I. Approval and Authorization for the Issuance
According to the relevant meeting resolutions and disclosed announcements provided by the issuer, and verified by our lawyers, the approvals and authorizations obtained for this issuance are as follows:
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Approval by the Board of Directors
On August 5, 2025, the issuer held the 17th meeting of the third Board of Directors, which approved the proposals regarding the conditions for issuing stocks to specific targets, the plan for issuing A-shares in 2025, and the preliminary plan for the issuance. According to these proposals, the number of stocks issued to specific targets will be determined by the total amount of funds raised divided by the issuance price, not exceeding 30% of the total share capital before this issuance, which is 27,600,000 shares (including 27,600,000 shares). The final issuance quantity will be determined by the Board of Directors after the issuance is approved by the Shenzhen Stock Exchange and registered by the China Securities Regulatory Commission (CSRC), based on the authorization from the shareholders' meeting and the actual situation at the time of issuance, in consultation with the sponsor (lead underwriter). The issuance targets will not exceed 35 specific investors, including legal entities, natural persons, or other legitimate investment organizations as stipulated by laws and regulations. Securities investment fund management companies, securities firms, qualified foreign institutional investors, and RMB qualified foreign institutional investors subscribing for more than two products managed by them will be considered as one issuance target. Trust investment companies can only subscribe with their own funds. The final issuance targets will be determined by the Board of Directors after the CSRC approves the registration, based on the authorization from the shareholders' meeting and in accordance with relevant laws, regulations, and normative documents. -
Approval by the Shareholders' Meeting
On August 21, 2025, the issuer held the second extraordinary shareholders' meeting of 2025, which reviewed and approved the proposals regarding the conditions for issuing stocks to specific targets, the plan for issuing A-shares in 2025, and the preliminary plan for the issuance. -
Authorization for the Issuance
On August 21, 2025, the issuer held the second extraordinary shareholders' meeting of 2025, which reviewed and approved the proposal to authorize the Board of Directors and its authorized persons to handle all matters related to this issuance. To ensure the smooth progress of this issuance, the shareholders' meeting authorized the Board of Directors and its authorized persons to handle specific matters related to this issuance, with the authorization valid for 12 months from the date of approval by the shareholders' meeting. -
Regulatory Review and Registration
On January 14, 2026, the issuer received a notice from the Listing Review Center of the Shenzhen Stock Exchange regarding the application for issuing stocks to specific targets, indicating that the company meets the issuance conditions, listing conditions, and information disclosure requirements. Subsequently, the Shenzhen Stock Exchange will report to the CSRC for the relevant registration procedures. On February 27, 2026, the CSRC issued a reply approving the registration application for the issuance of stocks to specific targets by Shenzhen Haon Automotive Electronics Equipment Co., Ltd. (CSRC Permit [2026] No. 345), which must be strictly implemented according to the submitted application documents and issuance plan. This approval is valid for 12 months from the date of registration approval.
In summary, our lawyers believe that the issuer has obtained the necessary approvals and authorizations at this stage, and the issuance has been approved by the Shenzhen Stock Exchange and registered by the CSRC.