KSW-TECH(SH:688283) Zheng Quan Zhi Xing·2025-08-01 16:10Core Viewpoint - The report outlines the verification opinion of Minsheng Securities regarding the listing and circulation of restricted shares for Chengdu Kunheng Shunwei Technology Co., Ltd. (Kunheng Shunwei) following its initial public offering (IPO) on the Sci-Tech Innovation Board [1][2]. Summary by Sections 1. Type of Restricted Shares - The restricted shares being listed are part of the initial public offering, totaling 36,308,429 shares, which accounts for 29.81% of the company's total share capital [3][9]. - The original lock-up period for these shares was set at 36 months from the date of the company's stock listing, with an extension of six months triggered by the stock price falling below the issue price for 20 consecutive trading days [3][4]. 2. Changes in Share Capital - Following the implementation of the 2023 profit distribution and capital reserve conversion plan, the company's total share capital increased from 84,000,000 shares to 121,800,000 shares, proportionally increasing the number of restricted shares held by relevant shareholders [3][4]. 3. Commitments Related to Restricted Shares - Shareholders have made commitments regarding the lock-up period and conditions for share transfer, including a restriction on transferring or managing shares for 36 months post-IPO and conditions for extending the lock-up period if the stock price falls below the issue price [5][6]. - After the lock-up period, shareholders can transfer up to 25% of their shares annually while adhering to specific conditions regarding the method and volume of share transfers [6][7]. 4. Listing and Circulation Details - The restricted shares will be available for trading starting from August 15, 2025 [9]. - The total number of restricted shares being listed is 36,308,429, representing 29.81% of the company's current total share capital [9]. 5. Sponsor's Opinion - The sponsor, Minsheng Securities, confirms that the shareholders have adhered to their commitments regarding the restricted shares, and the listing complies with relevant regulations and disclosure requirements [9].