Core Viewpoint - China Galaxy Securities Co., Ltd. has signed a supplementary agreement to the Securities and Financial Services Framework Agreement with its controlling shareholder, China Galaxy Financial Holdings Co., Ltd., to adjust the upper limit of related transactions for the years 2025-2027, ensuring that these transactions do not harm the interests of the company and its shareholders [2][6][16]. Group 1: Related Transactions Overview - The board of directors approved the signing of the supplementary agreement on October 13, 2025, which does not require shareholder meeting approval [2][5]. - The supplementary agreement was necessitated by a change in the management of a cash management product, which exceeded the original service revenue cap [4][6]. - The newly set upper limits for related transactions are RMB 231 million, RMB 944 million, and RMB 961 million for the years 2025, 2026, and 2027, respectively, with interest expenses of RMB 10 million [6][16]. Group 2: Related Party Information - China Galaxy Financial Holdings Co., Ltd. is the controlling shareholder of China Galaxy Securities, holding 47.43% of its shares [11]. - As of December 31, 2024, China Galaxy Financial Holdings reported total assets of RMB 772.105 billion and net profit of RMB 10.740 billion [10]. Group 3: Transaction Details and Pricing Policy - The services provided under the agreement include securities brokerage, agency sales, trading seat leasing, and other related financial services [13]. - Fees for these services will be determined based on market rates and will not be less favorable than those offered to independent third parties [14][15].

Audit Opinion - The audit report states that the financial statements of Zhangjiagang Free Trade Zone Foreign Investment Service Co., Ltd. fairly reflect its financial position as of March 31, 2025, and its operating results and cash flows for the first quarter of 2025 [1][2]. Basis for Audit Opinion - The audit was conducted in accordance with Chinese Certified Public Accountant auditing standards, ensuring independence and adherence to professional ethics [2][3]. - Sufficient and appropriate audit evidence was obtained to support the audit opinion [2]. Management and Governance Responsibilities - Management is responsible for preparing financial statements that fairly present the company's financial position and for maintaining necessary internal controls to prevent material misstatements due to fraud or error [2]. - The governance body oversees 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]. - The auditor assesses risks of material misstatement and designs audit procedures to address these risks [3][4]. Company Overview - Zhangjiagang Free Trade Zone Foreign Investment Service Co., Ltd. was established on August 18, 1998, with a registered capital of 467.3316 million RMB [6]. - The company provides various services related to foreign investment, construction, production, management, and international trade [6]. Financial Reporting Basis - The financial statements are prepared based on the going concern assumption and comply with the relevant accounting standards issued by the Ministry of Finance [6][7]. - The company has assessed its ability to continue as a going concern and found no significant uncertainties regarding its operations for the next 12 months [6]. Important Accounting Policies - The company has established specific accounting policies and estimates for revenue recognition and other transactions based on its operational characteristics [6]. - The financial statements reflect the company's financial position and results of operations accurately as of March 31, 2025 [6]. Financial Instruments - Financial assets are classified into categories based on the management's business model and cash flow characteristics [17][22]. - The company recognizes expected credit losses for financial assets based on historical data and future economic conditions [17][20]. Inventory and Costing - Inventory is classified into raw materials, low-value consumables, and finished goods, with costs determined using the weighted average method [23]. - The company assesses the net realizable value of inventory and recognizes impairment losses when necessary [23][24].