Independent Financial Advisor Report
Declaration
- The terms and abbreviations used in this report have the same meanings as defined in the "Definitions" section of this independent financial advisor report. CITIC Securities has been entrusted by New Aluminum Era to act as the independent financial advisor for this transaction. In accordance with the relevant provisions of the Company Law, Securities Law, Restructuring Management Measures, Issuance Management Measures, Guideline No. 26, and the Management Measures for Financial Advisory Services for Mergers and Acquisitions of Listed Companies, and based on recognized business standards and ethical norms in the securities industry, this independent financial advisor report is issued after careful review of relevant materials and a thorough understanding of the transaction.