Core Viewpoint - The report discusses the independent financial advisory opinion regarding the stock incentive plan of Beijing Huichen Zidao Information Co., Ltd., highlighting the approval process and conditions for granting restricted stocks to certain employees. Summary by Sections 1. Definitions - The document defines key terms related to the stock incentive plan, including "restricted stocks," "incentive objects," and "grant date" [1][2]. 2. Independent Financial Advisor's Opinion - The independent financial advisor assesses the fairness and reasonableness of the stock incentive plan for shareholders and its impact on the company's ongoing operations [3][4]. 3. Approval Process - The stock incentive plan has undergone necessary approval procedures, including resolutions from the board and supervisory committee, with no objections raised during the public notice period [6][7]. 4. Conditions for Granting Restricted Stocks - The granting of restricted stocks is contingent upon meeting specific conditions, including the absence of negative audit opinions and compliance with legal regulations [9][10]. 5. Specifics of the Deferred Grant - The plan includes details about the deferred granting of 100,000 shares to a specific executive due to prior indirect share reductions, with the grant to be reconsidered once conditions are met [7][8]. 6. Financial Impact - The financial advisor recommends that the company account for the costs associated with the stock incentive plan in accordance with relevant accounting standards, noting potential dilution effects [13][14]. 7. Conclusion - The independent financial advisor concludes that the stock incentive plan has received the necessary approvals and adheres to relevant regulations, confirming that the granting conditions are met [14].

Audit Opinion - The financial statements of Shanghai KBD Intelligent Technology Co., Ltd. have been audited and are believed to fairly reflect the company's financial position as of July 31, 2025, in accordance with accounting standards [1][2]. Management and Governance Responsibilities - The management is responsible for preparing the financial statements in accordance with accounting standards and ensuring that they are free from material misstatements due to fraud or error [2][3]. - The governance layer is responsible for overseeing the financial reporting process [2]. Auditor's Responsibilities - The auditor's goal is to obtain reasonable assurance that the financial statements are free from material misstatement, whether due to fraud or error [3][4]. - The auditor assesses risks of material misstatement and designs audit procedures to address these risks [3][4]. Financial Reporting Basis - The company has prepared its financial statements based on the assumption of going concern and has assessed that there are no significant doubts regarding its ability to continue as a going concern for the next 12 months [5]. Company Overview - Shanghai KBD Intelligent Technology Co., Ltd. was established on October 17, 2022, and is located in Shanghai, China. Its business scope includes technology services, electronic product sales, software development, and various other technical and sales activities [5]. Financial Statement Preparation - The financial statements are prepared in accordance with the "Basic Accounting Standards for Enterprises" and other relevant accounting standards, reflecting the company's financial status, operating results, changes in equity, and cash flows [5][6]. Consolidation and Reporting - The consolidated financial statements include the company and its subsidiaries, with the consolidation scope determined based on control [6][7]. - The company offsets unrealized internal transaction profits in the consolidated financial statements [6][7]. Financial Instruments - The company recognizes financial assets and liabilities upon entering into financial contracts and classifies them based on the business model and cash flow characteristics [11][12]. - Financial assets are classified into categories such as amortized cost, fair value through other comprehensive income, and fair value through profit or loss [11][12]. Credit Losses - The company assesses expected credit losses for financial assets and recognizes loss provisions based on the credit risk of financial instruments [15][18]. - The credit loss is determined based on the present value of the difference between the cash flows expected to be received and those contractually due [18].

国元证券股份有限公司 关于胜通能源股份有限公司 首次公开发行前已发行股份部分解除限售上市流通的核查 意见 国元证券股份有限公司（以下简称"国元证券"或"保荐机构"）作为胜通能源 股份有限公司（以下简称"胜通能源"或"公司"）持续督导的保荐机构，根据《证 券发行上市保荐业务管理办法》 《深圳证券交易所股票上市规则》 《深圳证券交易 所上市公司自律监管指引第 1 号——主板上市公司规范运作》《深圳证券交易所 上市公司自律监管指引第 13 号——保荐业务》等有关规定，对胜通能源首次公 开发行前已发行股份部分解除限售并上市流通事项进行了审慎核查，发表核查意 见如下： 一、首次公开发行股份及上市后股本变动概况 首次公开发行股票情况 公司首次公开发行股份前总股本为 90,000,000 股。经中国证券监督管理委 员会《关于核准胜通能源股份有限公司首次公开发行股票的批复》（证监许可 [2022]1333 号）核准，并经深圳证券交易所《关于胜通能源股份有限公司人民 币普通股股票上市的通知》（深证上[2022]884 号）同意，公司获准向社会公开 发行人民币普通股（A 股）30,000,000 股，自 2022 年 9 月 8 ...

Core Viewpoint - The legal opinion issued by King & Wood Mallesons confirms that Beijing Huicheng Zidao Information Co., Ltd. has obtained the necessary authorizations and approvals for granting restricted stocks under its 2025 incentive plan, in compliance with relevant laws and regulations [1][11]. Group 1: Authorization and Approval - The company held its 2024 annual general meeting on May 16, 2025, where it approved the draft of the 2025 restricted stock incentive plan and authorized the board to grant restricted stocks to eligible participants [4]. - On September 4, 2025, the company’s board of directors approved the proposal to grant restricted stocks to the temporarily deferred incentive objects, with related directors abstaining from voting [5][6]. - The legal opinion confirms that the necessary authorizations and approvals for the stock grant have been obtained, aligning with the management regulations and relevant legal provisions [11]. Group 2: Grant Details - The grant date for the restricted stocks is set for September 4, 2025, as approved by the board, and it does not fall within restricted periods defined by regulations [6]. - The company will grant 100,000 shares of the first category of restricted stocks at a price of 16.83 yuan per share to the deferred incentive object, who is a company director and senior manager [7]. Group 3: Grant Conditions - The grant must meet specific conditions, including the absence of negative audit opinions on financial reports and internal controls for the most recent fiscal year, and no violations of profit distribution regulations within the last 36 months [7][10]. - The legal opinion confirms that the grant conditions have been satisfied, allowing the company to proceed with the stock grant [10].

Summary of Key Points Core Viewpoint - The company, Hai Moxing Laser Technology Group Co., Ltd., has decided to adjust the financial assistance provided to its subsidiary, Xing Neng Mao Ye (Guangdong) Photovoltaic Technology Co., Ltd., increasing the amount from 80 million RMB to 100 million RMB to support its rapid development and alleviate financing difficulties [1][6]. Group 1: Financial Assistance Overview - The board of directors approved the financial assistance to Xing Neng Mao Ye, allowing for a maximum of 100 million RMB over a period of 36 months, with the borrowing amount being available for revolving use [1][6]. - The financial assistance aims to support the subsidiary's business expansion and daily operational funding needs while ensuring liquidity and fund safety [6][7]. Group 2: Related Party Information - The chairman and general manager, Zhao Shengyu, and the director and deputy general manager, Zhou Yuchao, are identified as related natural persons, holding shares in Xing Neng Mao Ye but not providing proportional financial assistance [2][3]. - Zhao Shengyu and Zhou Yuchao are recognized for their contributions to the industry, with Zhao being a notable figure in the photovoltaic sector and Zhou holding a master's degree in laser engineering [2]. Group 3: Subsidiary Financial Status - Xing Neng Mao Ye's recent financial indicators show total assets of approximately 11,571.65 million RMB and total liabilities of about 12,841.22 million RMB as of June 30, 2025 [5]. - The subsidiary reported a net loss of 2,188.96 million RMB for the first half of 2025, indicating financial challenges that the assistance aims to address [5]. Group 4: Approval Process - The adjustment of financial assistance was reviewed and approved by the independent directors, board of directors, and supervisory board, ensuring compliance with relevant regulations and company bylaws [8][9]. - The independent directors and board members confirmed that the financial assistance would not adversely affect the company's operations or the interests of minority shareholders [8][9].

Core Viewpoint - The company plans to use part of its idle raised funds, amounting to 315 million yuan, to temporarily supplement its working capital, ensuring that this does not affect the normal progress of its fundraising investment projects [2][4][5] Summary of Fundraising Situation - The company raised a total of 2,499,999,989.27 yuan through a non-public issuance of 206,440,957 shares at a price of 12.11 yuan per share, with net proceeds of 2,460,599,989.27 yuan after deducting fees [1] - The funds were deposited into a designated account and are subject to a three-party supervision agreement [1] Investment Project Status - As of September 4, 2025, the actual usage of the raised funds for the Yiwu Phase III project, which has a total investment of 3,353.05 million yuan, amounts to 2,456.74 million yuan, leaving a remaining balance of 214.10 million yuan [2] Previous Fund Return Situation - The company returned the previously used idle funds of 315 million yuan to the designated account within the stipulated period of less than twelve months [3] Current Fund Usage Plan - The company intends to use 315 million yuan of idle funds to temporarily supplement working capital, with a usage period not exceeding twelve months from the board's approval date [4] Approval Process for Fund Usage - The board and supervisory committee approved the use of idle funds at meetings held on September 4, 2025, in compliance with relevant laws and regulations [4] Special Opinions on Fund Usage - The supervisory committee supports the temporary use of idle funds, stating it will enhance fund efficiency and reduce financial costs without harming shareholder interests [4][5] Sponsor's Opinion - The sponsor confirms that the use of idle funds has been approved by the board and supervisory committee, and it aligns with regulations, ensuring no change in the intended use of the funds [5]

Group 1 - The report indicates that Minsheng Securities has effectively reviewed the information disclosure documents of Zhuhai Keres Technology Co., Ltd. with no instances of delayed reviews [1] - The company has established and effectively implemented regulations to prevent related party transactions and manage raised funds [1] - There was one instance of checking the company's raised funds special account, confirming that the project progress aligns with the disclosed information [1] Group 2 - The report states that there were no significant issues identified during the review process, and no measures were required to address any problems [1] - The company and its shareholders have fulfilled their commitments without any reasons for non-compliance [1] - A training session on the management of raised funds and relevant regulations is scheduled for March 21, 2025 [1]

Core Viewpoint - Guizhou Gas Group Co., Ltd. announced a temporary suspension of the conversion of its convertible bonds "Gui Ran Convertible Bonds" during the implementation of its 2025 mid-term profit distribution plan, which includes a cash dividend distribution of 16,359,818.92 yuan, accounting for 17.25% of the net profit attributable to shareholders for the first half of 2025 [1][2][3]. Summary of Key Points 1. Equity Distribution Plan - The company will distribute a total cash dividend of 16,359,818.92 yuan (including tax) to all shareholders, with a per-share cash dividend of 0.01423 yuan based on a total share capital of 1,150,008,568 shares as of July 31, 2025 [1]. - The cash dividend represents 17.25% of the net profit attributable to the parent company's shareholders for the first half of 2025 [1]. 2. Suspension of Conversion - The conversion of "Gui Ran Convertible Bonds" will be suspended from September 10, 2025, until the equity distribution registration date, with resumption on the first trading day after the registration date [2][3]. - Holders of the convertible bonds wishing to enjoy the equity distribution must convert their bonds before September 9, 2025 [3]. 3. Disclosure and Contact Information - The company will disclose further details regarding the equity distribution plan on September 11, 2025, through the Shanghai Stock Exchange and other legal information disclosure media [2]. - For inquiries, the company can be contacted via the board office at 0851-86771204 or via email at gzrq@gzgas.com.cn [3].

Core Viewpoint - Beijing Jiukang Biotechnology Co., Ltd. announces the suspension of the conversion of its convertible bonds "Jiukang Convertible Bonds" (bond code: 123150) during the rights distribution period from August 28, 2025, to September 4, 2025, and will resume conversion on September 5, 2025 [1] Summary by Relevant Sections - The company guarantees the authenticity, accuracy, and completeness of the information disclosed, ensuring no false records, misleading statements, or significant omissions [1] - The suspension of the bond conversion is in accordance with the regulations outlined in the prospectus for the issuance of convertible bonds to unspecified objects [1] - Bondholders are advised to pay attention to the resumption of conversion on the first trading day after the rights distribution registration date [1]

Group 1 - The company issued 21,460,000 convertible bonds with a total fundraising amount of RMB 2,146,000,000, approved by the regulatory authority [1] - The convertible bonds are set to be listed on the Shenzhen Stock Exchange starting March 6, 2024, under the name "铜陵定02" and code "124024" [1] - As of September 2023, 财通基金管理有限公司 held 10,000,000 bonds, representing 46.60% of the total issuance [1] Group 2 - From December 31, 2024, to August 29, 2025, 财通基金 reduced its holdings by a total of 3,100,000 bonds through selling and conversion, which is 14.45% of the total issuance [1] - The detailed changes in holdings before and after the reduction are provided, showing the impact on the percentage of total bonds held [1]