Advisor & Auditor Opinions Announcements

Guotai Junan Securities audited Winderful Fluid Equipment's proposal to re-evaluate and extend two fundraising projects: "Annual Production of 100 Million Valves and Hardware Construction Project" and "R&D Center Construction Project." The extension is due to construction delays, with new completion dates set for July 2027. The decision aligns with regulations and does not negatively impact shareholders.

This report serves as the official financial advisor statement regarding the tender offer for Jiaheng Home Care Co., Ltd. by Hangzhou Pinbianyi Network Technology Co., Ltd. Zhongtai Securities confirms it has performed due diligence and verified the accuracy of the tender offer documentation. The report outlines the legal responsibilities, professional declarations, and commitments of the financial advisor in overseeing the acquisition process.

This legal opinion from Shanghai Brightstone Lawyers addresses the takeover offer report for Jiaxing Jiahe Chemical Co., Ltd. It outlines the offer's purpose, the acquirer's and concert parties' basic information, and the offer plan. The document confirms compliance with relevant laws and regulations for the proposed acquisition.

This report is the 2025 Trustee Report for the convertible bonds issued by Jiangsu Henghui Safety Products Group Co., Ltd. It outlines the bond issuance details, the use of proceeds, and the trustee's performance of duties. The report confirms the bond's compliance with regulatory requirements and provides information on interest payments and credit ratings. It serves as a routine disclosure to ensure transparency for bondholders regarding the issuer's financial and operational status.

This legal opinion from Deheng Shanghai Law Office reviews the convening and holding of Jiangsu HengHui Security Group Co., Ltd.'s 2026 Second Extraordinary General Meeting. The meeting's procedures, attendee qualifications, and voting process were found to be in compliance with relevant laws and regulations. The resolution on amending the registered capital and articles of association was approved.

This legal opinion confirms that Jiangsu Zhongqi Technology Co., Ltd. has met the conditions for the first tranche of restricted stock unit releases under its 2025 Equity Incentive Plan. The company has obtained the necessary approvals and authorizations. The conditions related to company performance and individual performance have been satisfied, allowing for the release of 3,587,250 shares.

This legal opinion from Beijing Dentons Law Firm addresses adjustments and grant matters for Wuhan Testing Technology's 2026 Restricted Stock Incentive Plan. It confirms necessary approvals and authorizations have been obtained. The plan's grant date, recipients, number of shares, and price comply with regulations. All conditions for the grant are met, and required information disclosures have been made.

This legal opinion confirms the legality and validity of the convening and holding of the first extraordinary general meeting of shareholders of Zhejiang Jingsheng Mechanical & Electrical Co., Ltd. in 2026. It verifies the qualifications of attendees, the procedures for proposal review and voting, and the voting results, finding them to be in compliance with relevant laws and regulations.

This document serves as the formal listing sponsorship letter issued by GF Securities for Shanxi Huhua Group's 2025 private placement of A-shares. It confirms the issuer's compliance with relevant laws and regulations and the sponsor's due diligence in the issuance process. The document outlines the issuer's core business in civil explosives and provides a summary of its financial position for the 2023–2025 period.

This document is an issuance sponsorship letter submitted by GF Securities Co., Ltd. regarding Shanxi Huhua Group Co., Ltd.'s 2025 private placement of A-shares. It confirms that the sponsor has conducted due diligence and verified the issuer's compliance with legal and regulatory requirements. The filing serves as a formal recommendation for the proposed securities issuance and listing.

Hunan Qiyuan Law Firm provides a legal opinion on JZ Food's 2026 Second Extraordinary General Meeting. The firm reviewed the meeting's convocation, procedures, attendees' qualifications, and voting results. All aspects were found to comply with relevant laws and regulations, confirming the meeting's legality and validity.

Guosen Securities audited Guanyuan Foods' partial fund-raising investment projects. The "Phase VI Production Construction Project (1)" was re-evaluated due to delays exceeding one year. The re-evaluation confirmed its necessity and feasibility, aligning with strategic goals. The project will proceed without altering fund allocation or impacting operations, safeguarding shareholder interests.

This legal opinion from DeHeng Law Offices (Shenzhen) reviews the convening, procedures, and voting results of Zhuhai Bojie Electronics Co., Ltd.'s 2026 Third Extraordinary General Meeting. The meeting addressed proposals related to a specific share issuance, fundraising, and dividend distribution. All procedures and resolutions were found to be in compliance with relevant laws and regulations.

This report is the 2025 annual trustee management report issued by Dongguan Securities regarding Bear Electric's convertible bonds. It confirms the issuer's compliance with management regulations and the terms of the trust agreement during the reporting period. The document provides an overview of the bond's basic terms, the issuer's financial status, and the utilization of raised funds. It serves as a formal disclosure to investors regarding the trustee's oversight activities and the bond's current status.

This legal opinion from Deheng Law Offices attests to the legality and validity of Shenzhen Kere Technology Co., Ltd.'s 2026 First Extraordinary General Meeting. The meeting's convening, procedures, attendee qualifications, and voting results are confirmed to comply with relevant laws and regulations. Two proposals were approved, including amendments to the compensation management system and the 2026 director compensation plan.

This legal opinion confirms that the convening and holding procedures, attendee qualifications, convener qualifications, and voting procedures of Shenzhen China Security & Protection Technology Co., Ltd.'s first extraordinary general meeting of shareholders in 2026 complied with relevant Chinese laws and regulations. The meeting's resolutions were deemed legal and valid.

This legal opinion confirms that Guizhou Chuanheng Chemical Co., Ltd.'s 2026 Second Extraordinary General Meeting was convened and held in compliance with relevant laws and regulations. The meeting's convener and attendees' qualifications were valid. The proposal to repurchase and cancel restricted shares and amend the Articles of Association was approved with a high majority, meeting the requirements for a special resolution.

Guosheng Securities Co., Ltd. has been appointed as the sponsor for Guangdong Xianglu Tungsten Co., Ltd.'s 2023 issuance of A-shares to specific targets. This document serves as the formal sponsorship letter, confirming that the sponsor and its representatives have performed due diligence in accordance with relevant laws and regulations. The issuance is intended to raise capital for the company's business development.

This document is a listing sponsorship letter from Guosheng Securities for Guangdong Xianglu Tungsten Co., Ltd.'s issuance of A-shares to specific objects in 2023. It outlines the company's business, financial status, and risks. Key figures include revenue and net profit, with a focus on market and operational risks related to raw material price fluctuations and business performance.

Yichun Shengyuan Lithium Industry Co., Ltd. intends to increase the capital of Yifeng County Huaqiao Mining Co., Ltd. This report provides an appraisal of the total equity value of the target company as of the valuation date of December 31, 2025. The appraisal was conducted using the asset-based approach to support the proposed economic activity. The target company's book value of total assets is 398.23 million RMB, with net assets of 127.27 million RMB.

Zhongde Securities, as the sponsor, audited the lifting of lock-up restrictions for 52,975,326 shares of Shanxi Yongdong Chemical Co., Ltd. issued to specific objects. The lock-up period of six months has expired. All shareholders have fulfilled their commitments, and the company has not experienced non-operational fund occupation or illegal guarantees.

This legal opinion reviews the convening and holding of Ronglian Technology Group Co., Ltd.'s 2026 Second Extraordinary General Meeting. The meeting's procedures, attendee qualifications, and voting results are deemed compliant with relevant laws and company articles. The proposal to change the registered address and amend the articles of association was approved.

This legal opinion from Grandway Law Offices addresses the adjustment and initial grant of Beijing Sheng Tong Printing Co., Ltd.'s 2026 Restricted Stock Incentive Plan. It confirms that the company has obtained the necessary approvals and authorizations for the plan's adjustment and initial grant. The opinion details changes in the number of participants and shares, and the adjustment of the grant price. It concludes that the company has met all conditions for the initial grant.

This legal opinion confirms that the convening and holding procedures of Huayou Huibop Technology Co., Ltd.'s 2026 Third Extraordinary General Meeting were lawful and valid. The qualifications of attendees and the convener were also deemed legal. All resolutions passed, including amendments to the Articles of Association and Board of Directors' Meeting Rules, met the required voting thresholds.

Luxshare Precision has adjusted its 2025 Stock Option Incentive Plan due to the resignation and performance non-compliance of 156 incentive recipients. The company will cancel 5,360,400 unexercised stock options, reducing the total number of participants to 2,959. Additionally, the company confirmed that the conditions for the first exercise period of the initial grant have been met. This legal opinion confirms the compliance of these adjustments and the achievement of exercise conditions.

This legal opinion confirms that the convening and holding procedures for COSCO SHIPPING Technology Co., Ltd.'s 2026 Second Extraordinary General Meeting complied with relevant laws and regulations. The qualifications of attendees and the voting procedures and results were found to be legal and valid. All proposals were approved by a majority of voting shares.

This document is an audit opinion from CITIC Securities regarding the lifting of lock-up restrictions on shares of Xinjiang Beixin Road & Bridge Heavy Industry Co., Ltd. The company issued shares to specific targets, and a portion of these shares will have their lock-up period expire on June 26, 2026. The total number of shares to be unlocked is 360,831,455.

Aijian Securities, as the sponsor, audited Shanghai Shenkai's lifting of lock-up for shares issued in 2025 via private placement. The audit confirms compliance with regulations, proper fulfillment of lock-up commitments by 7 shareholders, and the total number of shares to be listed. The company's share capital structure has been updated accordingly.

This legal opinion reviews the convening and holding procedures, attendee qualifications, and voting results of Shenzhen Yiatong Supply Chain Management Co., Ltd.'s 2026 Seventh Extraordinary General Meeting of Shareholders. The meeting's procedures and outcomes are deemed compliant with relevant laws and regulations.

This legal opinion confirms that the convening and holding of Shanghai Yuexin Health Group Co., Ltd.'s 2026 First Extraordinary General Meeting complied with relevant laws and regulations. All attendees and the convener were qualified, and no temporary proposals were made. The meeting's voting procedures and resolutions were legally valid.

This report details the regular rating review for Zhejiang Southeast Grid Structure Co., Ltd.'s convertible bonds. The rating agency has maintained the company's issuer credit rating at AA with a stable outlook, and the convertible bond rating at AA. The review considered the company's financial status, operational performance, and industry trends, concluding no substantial change in credit quality.

This legal opinion confirms that Zhejiang Yinlun Machinery Co., Ltd. has met the exercise conditions for the fourth exercise period of its 2022 Stock Option Incentive Plan. The company's performance for the 2025 fiscal year resulted in an achievement rate of 97.68%, determining the applicable exercise ratio. Additionally, the board has authorized the cancellation of certain stock options. This filing serves to satisfy regulatory disclosure requirements for the Shenzhen Stock Exchange.

This legal opinion confirms that the 2025 Annual General Meeting of Wanbangde Pharmaceutical Holdings Group Co., Ltd. was convened and held in compliance with relevant laws and regulations. All attendees and the convener met the required qualifications. The meeting's voting procedures and results are deemed legal and valid.

This legal opinion confirms that the convening and holding procedures, attendee qualifications, convener qualifications, and voting procedures and results of the 2026 First Extraordinary General Meeting of Shenzhen Tongzhou Electronics Co., Ltd. comply with relevant laws and regulations. The meeting approved the proposal regarding the purchase of directors' and officers' liability insurance.

Ping An Securities audited Yalian Machinery's closure of a fundraising project and use of surplus funds for working capital. The company raised RMB 416.13 million and used RMB 164.83 million for projects. The remaining RMB 143.48 million will supplement working capital, improving fund efficiency. The process followed regulations and was approved by the board.

This report by RSM China provides an independent assessment of Guangzhou Guanghe Technology Co., Ltd.'s use of previous fundraising proceeds as of May 31, 2026. It confirms the company's financial statements comply with relevant regulations and accurately reflect fund utilization. The report is intended for the company's application to issue A-shares.

Guolian MinSheng Securities is reviewing Guangzhou Guanghe Technology's proposal to increase its foreign exchange hedging business quota by USD 700 million to a total of USD 1.2 billion. This move aims to mitigate foreign exchange risks due to market volatility, particularly impacting the company's export-oriented business. The proposal has passed the board and awaits shareholder approval.

This legal opinion confirms that Shandong Xintong Electronics Co., Ltd.'s 2026 Restricted Stock Incentive Plan grant has received necessary approvals and authorizations. The grant date is confirmed, and all conditions for granting the restricted stock have been met. The plan complies with relevant laws and regulations.

This legal opinion confirms that the procedures for convening and holding Shandong Xintong Electronics Co., Ltd.'s 2026 First Extraordinary General Meeting, the qualifications of the convener and attendees, and the voting procedures and results were legal and valid. The meeting addressed proposals including changes to fundraising projects and a stock incentive plan. All reviewed proposals were passed.

This legal opinion confirms that the convening, holding, and voting procedures of Hefei Xueqi Electric Co., Ltd.'s 2026 First Extraordinary General Meeting complied with relevant laws and regulations. All proposed resolutions, including stock incentive plan adjustments and capital reserve changes, were duly passed by the shareholders. The meeting's outcome is legally valid.

This report by RSM China provides an independent assessment of Guangdong Yangshan United Precision Manufacturing Co., Ltd.'s use of previously raised funds. It confirms the company's special report on fund usage complies with regulatory guidelines and fairly reflects the period ending December 31, 2025. The report is intended for the company's simplified refinancing application.

This legal opinion verifies the legality and validity of the convening, holding, and voting procedures of Huilv Ecological Technology Group Co., Ltd.'s 2026 First Extraordinary General Meeting. All proposals were approved by a majority of shareholders, confirming compliance with relevant laws and company regulations. The meeting's outcomes are deemed legal and effective.

This legal opinion confirms that the convening, holding, and voting procedures of Tianjin Tianbao Infrastructure Construction Co., Ltd.'s 2026 Third Extraordinary General Meeting complied with relevant laws and regulations. The meeting's resolutions were deemed legal and valid. All attendees' qualifications and the meeting's agenda were also found to be in order.

This report provides a professional appraisal of the commercial property located at Haocheng Building, Unit 310, for mortgage loan purposes. The appraised value of the property as of December 16, 2025, is 7.24 million RMB. The appraisal was conducted by Beijing Shoujia Real Estate Appraisal Co., Ltd. to support the mortgage loan application submitted to the Bank of China, Beijing Haidian Branch.

This report provides a mortgage valuation for a commercial property located in Chaoyang District, Beijing, owned by Beijing Zhongguancun Science-Tech Development (Holding) Co., Ltd. The appraisal was commissioned by the Bank of China, Beijing Haidian Branch, to determine the loan collateral value. The total appraised value of the property is 11.1 million RMB as of December 16, 2025.

This report provides a mortgage valuation for a property located at Unit 301, Building 9, Zuojiazhuang Middle Street, Chaoyang District, Beijing. Commissioned by the Bank of China, Beijing Haidian Branch, the appraisal determines the property's value for mortgage loan purposes. The appraised value as of December 16, 2025, is 21.57 million RMB. This valuation serves as the basis for determining the mortgage loan amount.

This report details the appraisal of a commercial property located at Hao Cheng Building, Unit 303, Beijing. The appraisal was conducted for mortgage loan purposes. The property's appraised value, assuming no prior secured claims, is RMB 4.89 million. The report outlines the property's condition, market context, and valuation methodology.

This report provides a market value assessment of buildings and land use rights held by the Cangzhou branch of Beijing Huasu Pharmaceutical Co., Ltd. The valuation was conducted to support a proposed bank mortgage. The appraisal, based on cost and market comparison methods, establishes the fair value of these assets as of May 31, 2026.

This report provides a mortgage valuation for a property located at Unit 302, Floor 3, Building 9, No. 6 Zuo'anmen Street, Chaoyang District, Beijing. The appraisal was commissioned by the Bank of China, Beijing Haidian Branch, to determine the property's value for mortgage loan purposes. The appraised value of the property as of December 16, 2025, is 10.95 million RMB.

Beijing Deheng (Chongqing) Law Offices issued a legal opinion on the Second Extraordinary General Meeting of North China Pharmaceutical Co., Ltd. in 2026. The meeting was convened and held in compliance with relevant laws and regulations. The proposal to sign a supplementary agreement for a lease and related party transaction was approved.