Verification Opinion of China Merchants Securities Co., Ltd. on the Fundraising Management of Guangdong Provincial Institute of Building Science Group Co., Ltd. for 2025
China Merchants Securities Co., Ltd. (hereinafter referred to as "China Merchants Securities" or "the Sponsor") is the sponsor for the initial public offering of Guangdong Provincial Institute of Building Science Group Co., Ltd. (hereinafter referred to as "Guangdong Jian Ke" or "the Company") and its listing on the Growth Enterprise Market. In accordance with relevant laws, regulations, and normative documents such as the "Regulations on the Management of Sponsorship for Securities Issuance and Listing," "Regulations on the Supervision of Fundraising by Listed Companies," "Listing Rules for the Growth Enterprise Market of Shenzhen Stock Exchange," and "Self-Regulatory Guidelines No. 2 for Listed Companies on the Shenzhen Stock Exchange - Standardized Operations of Growth Enterprise Market Listed Companies," we conducted a special verification of the management and use of the funds raised by Guangdong Jian Ke for 2025 and hereby present the following opinions:
1. Basic Situation of the Company's Fundraising
(1) Actual Amount Raised and Fund Arrival Status
According to the China Securities Regulatory Commission's approval document (Zheng Jian Xu Ke [2025] No. 1275) for the registration of Guangdong Provincial Institute of Building Science Group Co., Ltd.'s initial public offering, the company issued 104,660,000 shares of ordinary shares (A shares) at an issuance price of RMB 6.56 per share, raising a total of RMB 686,569,600.00. After deducting various issuance expenses of RMB 57,389,866.90 (excluding tax), the actual net amount raised was RMB 629,179,733.10. The aforementioned funds were transferred to the company's designated account on August 7, 2025, and were verified by Lixin Certified Public Accountants (Special General Partnership), which issued a "Verification Report" (XK [2025] No. ZM10160).
(2) Fund Usage and Balance Status
As of December 31, 2025, the usage and balance of the raised funds are as follows:
| Item | Amount (RMB) |
|---|---|
| Total Amount Raised | 686,569,600.00 |
| Less: Deducted Issuance Expenses (excluding self-raised funds) | 31,554,620.38 |
| Initial Balance of Special Fund Account | 655,014,979.62 |
| Less: Issuance Expenses Paid (including self-raised funds used to replace paid issuance expenses) | 25,552,227.65 |
| Less: Amount Invested in Fundraising Projects (including self-raised funds used to replace pre-invested amounts) | 101,081,821.83 |
| Plus: Interest Income from Bank Deposits of Raised Funds | 95,576.06 |
| Plus: Income from Cash Management and Agreed Deposits of Raised Funds | 70,971.08 |
| Balance of Special Fund Account as of December 31, 2025 | 528,547,477.28 |
2. Management and Storage of Raised Funds
(1) Management of Raised Funds
To standardize the management and use of raised funds and maximize the protection of investors' interests, the company formulated the "Management System for Fundraising of Guangdong Provincial Institute of Building Science Group Co., Ltd." in accordance with the "Company Law of the People's Republic of China," "Securities Law of the People's Republic of China," "Regulations on the Supervision of Fundraising by Listed Companies," "Listing Rules for the Growth Enterprise Market of Shenzhen Stock Exchange," and "Self-Regulatory Guidelines No. 2 for Listed Companies on the Shenzhen Stock Exchange - Standardized Operations of Growth Enterprise Market Listed Companies." The company implements special account storage for the raised funds and has established special accounts in banks. The company and its subsidiaries, Guangdong Construction Engineering Quality Safety Testing Station Co., Ltd., Guangdong Jian Ke Innovation Technology Research Institute Co., Ltd., and Guangdong Jian Ke Yuan Sheng Engineering Testing Co., Ltd., have signed tripartite/quadripartite supervision agreements with the sponsor, China Merchants Securities Co., Ltd., and China Merchants Bank Co., Ltd. Guangzhou Branch, clarifying the rights and obligations of all parties. The company strictly adheres to the agreements in the use of raised funds.