[Image: Changjiang Financing Services logo]
Changjiang Financing Services Co., Ltd.
Regarding the Initial Public Offering and Listing of Hangzhou Grascent Co., Ltd. on the ChiNext Market
Issuance Sponsorship Letter
Sponsor (Lead Underwriter)
Room 302-1, 302-2, 303-3, No. 128 Beizhangjiabang Road, China (Shanghai) Pilot Free Trade Zone
August 2026
Statement
Changjiang Financing Services Co., Ltd. (hereinafter referred to as "this Sponsor," "the Sponsor," or "Changjiang Financing") has been engaged by Hangzhou Grascent Co., Ltd. (hereinafter referred to as "the Issuer," "Grascent," or "the Company") to serve as the sponsor for its initial public offering and listing on the ChiNext market (hereinafter referred to as "this Offering" or "the IPO"), and hereby issues this issuance sponsorship letter.
This Sponsor and the designated sponsor representatives have acted in accordance with the Company Law of the People's Republic of China, the Securities Law of the People's Republic of China, the Administrative Measures for the Sponsorship of Securities Issuance and Listing, the Administrative Measures for the Registration of Initial Public Offering of Shares, the Shenzhen Stock Exchange ChiNext Stock Listing Rules, and the Content and Format Guidelines for Information Disclosure by Companies Issuing Securities No. 27—Issuance Sponsorship Letter and Issuance Sponsorship Work Report, as well as other relevant laws, administrative regulations, and the provisions of the China Securities Regulatory Commission (CSRC) and the Shenzhen Stock Exchange. We have acted with honesty, integrity, and due diligence, strictly following established business rules, industry standards, and ethical codes. Following due diligence and prudent verification, we issue this sponsorship letter and guarantee the truthfulness, accuracy, and completeness of the documents provided.
Unless otherwise specified, the abbreviations and terms used in this sponsorship letter are consistent with those in the Prospectus.
I. Basic Information on this Securities Offering
(I) Name of Sponsor
(II) Sponsor Representatives Responsible for this Recommendation
In accordance with the Administrative Measures for the Sponsorship of Securities Issuance and Listing, this Sponsor has issued the "Special Authorization Letter for Sponsor Representatives" (Attachment), authorizing sponsor representatives Guo Zhongjie and Li Hongqiang to serve as the sponsor representatives for the Grascent IPO and listing project, responsible for the due diligence, sponsorship, and continuous supervision of this Offering.
- Professional Practice of Guo Zhongjie
Mr. Guo Zhongjie, sponsor representative, Master of Economics, Executive General Manager of Changjiang Financing Services Co., Ltd. He has participated in or led projects including IPOs for Rongxin Shares, Yazhi Shares, Blue Ocean Huateng, Huawang Shares, Micro-Company, Weisi Medical, Lingdian Electric Control, SongSheng Shares, Yanpai Shares, Jinpu Landscape, and China Ruilin; non-public offering projects for Rongxin Shares, Keliyuan, Chunxing Precision, and Xiamen Tungsten; convertible bond projects for Changxin Technology, Huawang Shares, and Yanpai Shares; and major asset restructuring projects for Liyuan New Materials and Langzi Shares.
- Professional Practice of Li Hongqiang
Mr. Li Hongqiang, sponsor representative, Bachelor of Accounting, holds CPA and legal qualifications, Business Deputy Director of Changjiang Financing Services Co., Ltd. He has participated in or led projects including the ChiNext IPO for Shenzhen Heda Zhongyuantong Power Technology Co., Ltd., the rights issue for Jilin Huayue Electronics Co., Ltd., the non-public offering for Inner Mongolia Tianshou Technology Development Co., Ltd., and the major asset restructuring for Jilin Quanyangquan Co., Ltd.
(III) Project Coordinator and Other Project Team Members
The project coordinator for this Offering is Zhou Qiangsheng.
Mr. Zhou Qiangsheng, Master of International Business, has participated in projects including the issuance of shares and cash payment for asset acquisition by Wuhan Lingdian Automotive Electronic Control System Co., Ltd., convertible bonds for Zhejiang Yanpai Filtration Technology Co., Ltd., the IPO of Shenzhen SongSheng Electronics Co., Ltd., and private corporate bonds for Tangde Film & Television Co., Ltd.