Verification Opinion of Huatai United Securities Co., Ltd. on the Self-Evaluation Report of Internal Control of Shenzhen Ugreen Technology Co., Ltd. for 2025
Huatai United Securities Co., Ltd. (hereinafter referred to as "Huatai United Securities" or "Sponsor") serves as the sponsor for the initial public offering and listing of Shenzhen Ugreen Technology Co., Ltd. (hereinafter referred to as "Ugreen Technology" or "Company") on the ChiNext. In accordance with the relevant regulations including the "Administrative Measures for Sponsorship of Securities Issuance and Listing," "Listing Rules for ChiNext Stocks of Shenzhen Stock Exchange," and "Self-Regulatory Guidelines No. 13 for Listed Companies of Shenzhen Stock Exchange - Sponsorship Business," Huatai United conducted a verification of the internal control system and related matters for Shenzhen Ugreen Technology Co., Ltd. for 2025 and issued the following independent opinion:
1. Basic Situation of Internal Control
(1) Scope of Internal Control Evaluation
The Company determined the main units, businesses, and high-risk areas included in the evaluation based on a risk-oriented principle. The main units included: various functional departments of Ugreen Technology, Hong Kong Ugreen Limited, AMERICA UGREEN LIMITED, Shenzhen Haiying Smart Link Industrial Co., Ltd., Shenzhen Zhize Technology Co., Ltd., and other subsidiaries. The total assets of the included units accounted for 100.00% of the total assets in the consolidated financial statements, and the total operating income accounted for 100.00% of the total operating income in the consolidated financial statements. The main businesses and matters included in the evaluation covered the internal control environment at the company level, sales and collections, procurement and payments, inventory management, human resource management, capital management, fixed asset management, and financial reporting processes. The aforementioned units, businesses, and high-risk areas encompass the main aspects of the Company's operational management, with no significant omissions.
(2) Internal Control Environment
- Corporate Governance The Company has established a corporate governance structure comprising the shareholders' meeting, board of directors, and management team. To ensure the effective operation of this governance structure, the Company has formulated the "Articles of Association," "Rules of Procedure for Shareholders' Meetings," "Rules of Procedure for Board Meetings," "General Manager's Work Rules," "Independent Director's Work System," and "Related Party Transaction Management Measures," which clearly define the responsibilities of the shareholders' meeting, board of directors, and general manager, forming a mechanism of separation, mutual restriction, mutual supervision, and coordinated operation among decision-making, execution, and supervision functions.
(1) Shareholders and Shareholders' Meeting: The shareholders' meeting is the highest authority of the Company. Since its establishment, the shareholders' meeting has operated strictly in accordance with relevant laws, regulations, the "Articles of Association," and "Rules of Procedure for Shareholders' Meetings," and has adhered to the shareholders' meeting system. All shareholders exercise their rights and fulfill their obligations in accordance with relevant regulations, respecting the rights of minority shareholders, with no incidents of infringement on minority shareholders' rights.