Core Viewpoint - The legal opinion letter issued by Jin Mao Law Firm confirms that Honghe Electronic Materials Technology Co., Ltd. has obtained the necessary internal approvals for its planned issuance of A-shares to specific investors in 2025, pending approval from the Shanghai Stock Exchange and registration with the China Securities Regulatory Commission [1][6][7]. Group 1: Issuance Approval and Authorization - The company held board meetings and a shareholders' meeting on April 10, 2025, and July 14, 2025, respectively, to approve the issuance plan [6][7]. - The legal opinion confirms that the procedures for convening and conducting these meetings complied with relevant laws and regulations [6][7]. Group 2: Company Qualifications - Honghe Electronic Materials Technology Co., Ltd. is a legally established joint-stock company with a registered capital of 879.7275 million RMB [7][8]. - The company is in good standing and has not encountered any legal issues that would necessitate termination or delisting [8][19]. Group 3: Substantial Conditions for Issuance - The issuance of shares meets the requirements set forth in the Company Law and Securities Law, including the stipulation that the issuance price must not be lower than 80% of the average trading price over the previous 20 trading days [9][10]. - The company has confirmed that the funds raised will be used in compliance with national industrial policies and will not be used for financial investments [11][12]. Group 4: Shareholder Structure - As of March 31, 2025, the largest shareholder, Asia Wealth International Limited, holds 74.84% of the company's shares, with the actual controllers being Wang Wenyang and Grace Tsu Han Wong [15][17]. - The company has disclosed plans for share reductions by certain shareholders, which are being executed in compliance with regulations [15][16]. Group 5: Business Operations - The company operates within its registered business scope, which includes the manufacturing and sales of electronic materials and related technologies [18][19]. - All necessary licenses and permits for its operations are valid and up to date as of March 31, 2025 [18][19].