Report on the Special Audit of Raised Funds Replacement for China Southern Power Grid Digital Grid Research Institute Co., Ltd.
Lixin Certified Public Accountants (Special General Partnership) BDO CHINA SHU LUN PAN CERTIFIED PUBLIC ACCOUNTANTS LLP
Regarding the Special Audit Report on Raised Funds Replacement for China Southern Power Grid Digital Grid Research Institute Co., Ltd.
Audit Report No. [2026] ZM10478
To all shareholders of China Southern Power Grid Digital Grid Research Institute Co., Ltd.:
We have been engaged to audit the accompanying "Special Statement on Self-Raised Funds Pre-Invested in Raised Fund Projects and Used for Issuance Expenses" (hereinafter referred to as the "Special Statement") prepared by the management of China Southern Power Grid Digital Grid Research Institute Co., Ltd. (hereinafter referred to as the "Company").
I. Management's Responsibility
The Company's management is responsible for preparing the Special Statement in accordance with the requirements of the "Supervision Regulations for Raised Funds of Listed Companies" (CSRC Announcement [2025] No. 10) and the "Shenzhen Stock Exchange Listed Company Self-Regulatory Management Guide No. 2 - Standardized Operation of GEM Companies," and for ensuring that its content is true, accurate, and complete, and does not contain any false records, misleading statements, or material omissions.
II. Auditor's Responsibility
Our responsibility is to express an audit conclusion on the aforementioned Special Statement based on our performance of the audit engagement.
III. Overview of Work
We performed this audit engagement in accordance with the "Chinese Certified Public Accountants' Other Assurance Services Standards No. 3101 - Assurance Engagements Other Than Audits or Reviews of Historical Financial Information." This standard requires us to comply with professional ethics, plan and perform the audit engagement to obtain reasonable assurance about whether the Special Statement is prepared in all material respects in accordance with the requirements of the "Supervision Regulations for Raised Funds of Listed Companies" (CSRC Announcement [2025] No. 10) and the "Shenzhen Stock Exchange Listed Company Self-Regulatory Management Guide No. 2 - Standardized Operation of GEM Companies," and fairly reflects the Company's situation of pre-investing self-raised funds in raised fund projects and paying issuance expenses as of January 31, 2026. In the course of performing the audit engagement, we conducted inquiries, inspected accounting records, and performed other procedures as we deemed necessary. We believe that our audit work provides a reasonable basis for our audit conclusion.
IV. Audit Conclusion
We are of the opinion that the Special Statement prepared by the Company is, in all material respects, prepared in accordance with the requirements of the "Supervision Regulations for Raised Funds of Listed Companies" (CSRC Announcement [2025] No. 10) and the "Shenzhen Stock Exchange Listed Company Self-Regulatory Management Guide No. 2 - Standardized Operation of GEM Companies," and fairly reflects the Company's actual situation of pre-investing self-raised funds in raised fund projects and paying issuance expenses as of January 31, 2026.
V. Limitation on Users and Purpose of the Report
This audit report is intended solely for the Company's use in replacing self-raised funds pre-invested in raised fund projects and used for issuance expenses with raised funds, and shall not be used for any other purpose.
Lixin Certified Public Accountants (Special General Partnership) (Special General Partnership)
Certified Public Accountant: Peng Minqin (Engagement Partner)
Certified Public Accountant: Liu Xingyan
China · Shanghai
March 27, 2026