Grandall Law Firm (Hangzhou)
Regarding
Gelin Biotechnology Co., Ltd.
Initial Public Offering and Listing on the ChiNext Market
Legal Opinion
Address: Grandall Building, No. 2 & No. 15, Block B, Baita Park, Old Fuxing Road, Hangzhou, Zhejiang 310008, China
Tel: (86)(571) 8577 5888 Fax: (86)(571) 8577 5643
Email: grandallhz@grandall.com.cn
Website: http://www.grandall.com.cn
November 2025
Table of Contents
Definitions 2
Part I Introduction 4
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Brief Introduction to the Law Firm and Lawyers 4
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Major Work Procedures Involved in Issuing the Legal Opinion 5
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Matters Requiring Lawyer Statements 8
Part II Main Body 10
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Status of the Issuer 10
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Approval and Authorization of the Offering and Listing 11
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Subject Qualifications of the Issuer for the Offering and Listing 12
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Substantive Conditions for the Offering and Listing 12
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Establishment of the Issuer 18
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Independence of the Issuer 18
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Promoters and Shareholders of the Issuer 20
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Capital and Changes of the Issuer 21
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Business of the Issuer 22
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Related Party Transactions and Competition 22
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Major Assets of the Issuer 24
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Major Creditor's Rights and Debts of the Issuer 26
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Major Changes and Mergers and Acquisitions of the Issuer 26
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Formulation and Amendment of the Articles of Association 27
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Rules of Procedure and Standardized Operation of Shareholders' Meetings, Board of Directors, and Board of Supervisors 27
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Changes in Directors, Supervisors, and Senior Management of the Issuer 28
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Taxation of the Issuer 28
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Environmental Protection and Product Quality and Technical Standards of the Issuer 29
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Use of Proceeds from the Offering 29
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Business Development Objectives of the Issuer 29
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Litigation, Arbitration, or Administrative Penalties 30
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Evaluation of the Issuer's Prospectus Legal Risks 30
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Relevant Commitments and Restrictive Measures Involved in the Offering 30
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Other Matters the Law Firm Considers Necessary to Explain 31
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Conclusion 31
Definitions
Unless otherwise specified, the following terms have the following specific meanings in this Legal Opinion: