Core Viewpoint - The report from CITIC Securities confirms the compliance of Yidian Tianxia Network Technology Co., Ltd. with regulations regarding the listing of previously issued shares prior to its initial public offering (IPO) on the Shenzhen Stock Exchange's Growth Enterprise Market. Group 1: Overview of the IPO - The company successfully issued 75,501,745 shares and was listed on August 19, 2022, with a total share capital of 471,885,905 shares post-IPO [1][2] - The proportion of restricted shares to the total share capital is 0.9767% before the IPO and 32.9607% for the shares being released from restriction [1][2] Group 2: Shareholder Commitments - Shareholders have made commitments not to transfer or manage their pre-IPO shares for a period of 36 months, with the lock-up period ending on August 19, 2025 [2][3] - If the stock price falls below the IPO price for 20 consecutive trading days, the lock-up period will automatically extend by 6 months [2][3] Group 3: Compliance and Verification - The report indicates that all shareholders have adhered to their commitments, and there are no breaches affecting the listing of restricted shares [17][19] - The verification by CITIC Securities concludes that the application for the release of restricted shares complies with relevant regulations and shareholder commitments [19]

Core Viewpoint - Ping An Securities has conducted a verification of the listing circulation of shares issued prior to the initial public offering (IPO) of Zhejiang Xinghua New Materials Group Co., Ltd. The verification is in accordance with relevant laws and regulations, confirming the company's compliance with the requirements for share issuance and circulation [1][2]. Group 1: IPO and Share Issuance - The company successfully completed its IPO on September 30, 2021, with 15 million shares issued, resulting in a total share capital of 60 million shares, of which 15 million are freely tradable and 45 million are subject to restrictions [1]. - Following the annual shareholders' meeting on May 16, 2022, the company implemented a profit distribution plan that included a capital reserve conversion, increasing the total share capital to 120 million shares, with 30 million freely tradable and 90 million restricted [2]. Group 2: Share Capital Changes - The company approved a share buyback plan during the second extraordinary shareholders' meeting in 2024, with a total of 3,775,174 shares repurchased from November 26, 2024, to January 14, 2025. The total share capital was subsequently reduced to 116,224,826 shares, with 39,094,828 freely tradable and 77,129,998 restricted [3]. - As of the date of the verification opinion, the total number of shares is 116,224,826, with 33.64% being freely tradable and 66.36% being restricted [3]. Group 3: Shareholder Commitments - Shareholders, including Wang Shijie and Chen Yi, have made commitments regarding the transfer of shares, including a lock-up period of 36 months from the IPO date, during which they will not transfer or manage their shares [4][5]. - The commitments also stipulate that if the closing price falls below the issuance price for a specified period, the lock-up period will automatically extend by six months [4][5]. Group 4: Share Buyback and Price Stabilization Measures - The company has outlined measures for stabilizing share prices, including share buybacks and commitments from controlling shareholders and management to increase their holdings under certain conditions [7][8]. - Specific procedures for implementing these measures include obtaining shareholder approval and ensuring compliance with relevant laws and regulations [9][10]. Group 5: Accountability and Compliance - The controlling shareholders have committed to fulfilling all public commitments made during the IPO process and accepting social supervision. Failure to comply will result in specific accountability measures, including public apologies and restrictions on share transfers [11][12].