Core Viewpoint - The document outlines the legal opinions and verification processes conducted by Shanghai Jintiancheng Law Firm regarding Shanghai Mijuan Communication Technology Co., Ltd.'s issuance of A-shares to specific targets in 2025, ensuring compliance with relevant laws and regulations [1][2][3]. Group 1: Legal Compliance and Verification - The law firm has conducted thorough investigations and discussions with the issuer and its sponsors to ensure that the issuance application complies with the Securities Law, Company Law, and relevant regulations [2][3]. - The law firm confirms that the supplementary legal opinion is a necessary legal document for the issuer's stock issuance and agrees to its use alongside the legal opinion and lawyer's work report [3]. Group 2: Financial Data and Analysis - The company's accounts receivable at the end of each reporting period were reported as follows: 2.099 billion, 1.687 billion, 3.038 billion, and 2.888 billion CNY, with a lower bad debt provision ratio compared to industry peers [5]. - The company's inventory balances at the end of each reporting period were reported as 3.099 billion, 3.626 billion, 3.350 billion, and 4.674 billion CNY, with inventory impairment provisions of 2.77%, 2.82%, 2.70%, and 2.25% respectively [5]. - Other receivables were reported as 153.52 million, 238.53 million, 285.08 million, and 417.20 million CNY at the end of each reporting period [5]. Group 3: Receivables and Taxation - The company has agreements with major chip suppliers for rebate payments, which are considered industry practices and commercially reasonable [6][10]. - The total amount of rebates received by the company in 2023 was reported as 819.38 million CNY, indicating a good recovery of receivables [10]. - The pending deductible VAT input tax is classified under other current assets in accordance with accounting regulations, and its recovery risk is considered low [9][10].