/Grant Thornton Accounting Firm (Special General Partnership) Assurance Report on the Deposit and Actual Use of Raised Funds of Zhejiang Shengda Biopharmaceutical Co., Ltd. in 2025

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Grant Thornton Accounting Firm (Special General Partnership) Assurance Report on the Deposit and Actual Use of Raised Funds of Zhejiang Shengda Biopharmaceutical Co., Ltd. in 2025

Shanghai Stock Exchange

2026/04/27

Regarding the verification report on the storage and actual use of raised funds of Zhejiang Shengda Biopharmaceutical Co., Ltd. in 2025

Grant Thornton Certified Public Accountants LLP (Special General Partnership) Directory

About Zhejiang Shengda Biopharmaceutical Co., Ltd. Fund Raising in 2025

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Storage and actual usage verification report

Zhejiang Shengda Biopharmaceutical Co., Ltd. raises funds in 2025

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Special reports on storage and actual usage

Grant Thornton Certified Public Accountants (Special General Partnership) 5th Floor, Saite Plaza, No. 22 Jianguomenwai Street, Chaoyang District, Beijing, China Postcode 100004

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About Zhejiang Shengda Biopharmaceutical Co., Ltd.

Deposit and actual use of raised funds in 2025

Assurance report

Grant Thornton (2026) No. 332A010157

All shareholders of Zhejiang Shengda Biopharmaceutical Co., Ltd.:

We accepted the entrustment and performed a reasonable assurance assurance business on the attached "Special Report on the Deposit and Actual Use of Raised Funds in 2025" (hereinafter referred to as the "Special Report") of Zhejiang Shengda Biopharmaceutical Co., Ltd. (hereinafter referred to as Shengda Biopharmaceutical Company).

It is the responsibility of the board of directors of Shengda Biotech to prepare the 2025 special report in accordance with the requirements of the "Regulations on the Supervision of Funds Raised by Listed Companies" and the "Shanghai Stock Exchange Self-Regulatory Supervision Guidelines for Listed Companies No. 1 - Standardized Operations" to ensure that its content is true, accurate, complete, and free of false records, misleading statements or major omissions. Our responsibility is to provide assurance conclusions on the 2025 special report prepared by Shengda Biotech based on the implementation of the assurance work.

We plan and implement the assurance work in accordance with the provisions of the "Chinese Certified Public Accountants Standards for Other Assurance Engagements No. 3101 - Assurance Engagements Other than Auditing or Review of Historical Financial Information" to obtain reasonable assurance as to whether there are no material misstatements in the 2025 special report. In the verification work, we combined with the actual situation of Shengda Biological Company and implemented procedures that we considered necessary, including understanding, questioning, spot checks, and verification. We believe that our assurance work provides a reasonable basis for making assurance conclusions.

After review, we believe that the 2025 special report prepared by the board of directors of Shengda Biotech Company complies with the relevant provisions of the "Supervision Rules for Fund Raising by Listed Companies" and the "Shanghai Stock Exchange Self-Discipline Supervision Guidelines for Listed Companies No. 1 - Standardized Operation" and relevant format guidelines, and truthfully reflects the deposit and actual use of funds raised by Shengda Biotech Company in 2025 in all material aspects.

This assurance report is only used when Shengda Biotech discloses its annual report and may not be used for any other purpose.

Grant Thornton Certified Public Accountants (Special General Partnership)

Chinese Certified Public Accountants China·Beijing April 23, 2026

Zhejiang Shengda Biopharmaceutical Co., Ltd.

Deposit and actual use of raised funds in 2025

Special report

In accordance with the relevant provisions of the "Supervision Rules for Funds Raised by Listed Companies" and the "Shanghai Stock Exchange Self-Regulatory Guidelines for Listed Companies No. 1 - Standardized Operations", the storage and use of funds raised by the Company in 2025 is hereby explained as follows:

1. Basic situation of raised funds

(1) The actual amount of funds raised and the time when the funds will be received

As approved by the China Securities Regulatory Commission's "Reply on the Registration of Zhejiang Shengda Biopharmaceutical Co., Ltd.'s Issuance of Stocks to Specific Targets" (CSRC Permit [2025] No. 165), the company issued 17,840 RMB ordinary shares (A shares) to specific targets, 666 shares, the issuance price per share is RMB 15, and the total raised funds are RMB 267,609,990.00. After deducting the issuance expenses (excluding tax) of RMB 6,186,644.91, the net raised funds are RMB 261,423,345.09.

The above-mentioned receipt of funds raised has been verified by Tianjian Accounting Firm (Special General Partnership), and a "Capital Verification Report" (Tianjianyan [2025] No. 143) was issued on June 11, 2025. The company has carried out special account storage and management of the raised funds. After the raised funds are received, all the raised funds have been deposited in the special account for raised funds, and have signed supervision agreements with the sponsors and the banks where the raised funds are deposited.

(2) Amount used this year and current balance

As of December 31, 2025, the Company has invested a total of RMB 42.1434 million of raised funds in investment projects, replacing RMB 32.2499 million of self-raised funds pre-invested in raised investment projects and paid issuance fees. The bank interest received will be deducted Less the handling fees paid, the net amount is RMB 914,100. The undue balance of using idle raised funds for cash management is RMB 180,000,000. The balance of the company’s special storage account for raised funds is RMB 40,194,000 (including interest income).

2. Storage and management of raised funds

(1) Management of raised funds

In order to standardize the management and use of raised funds and protect the rights and interests of investors, the company has formulated the "Management Measures for Raised Funds of Zhejiang Shengda Biopharmaceutical Co., Ltd." (hereinafter referred to as the "Management Measures") in accordance with the provisions of the "Supervisory Rules for Fund Raised by Listed Companies (Revised in 2025)" and the "Shanghai Stock Exchange Self-Discipline Supervision Guidelines for Listed Companies No. 1 - Standardized Operation" and based on the actual situation of the company.

In accordance with the management measures and combined with operational needs, the company and its subsidiary Tongliao Shengda Bioengineering Co., Ltd. (hereinafter referred to as Tongliao Shengda) have established offices in Tiantai Branch of Industrial and Commercial Bank of China Co., Ltd., Tiantai County Branch of Agricultural Bank of China Co., Ltd., Tiantai County Branch of Bank of China Co., Ltd., Tiantai Branch of China Construction Bank Co., Ltd. in accordance with laws and regulations. The Kailu Branch of Bank of China Co., Ltd. has opened a special account for the raised funds for the special storage and use of the funds raised from the issuance of stocks to specific objects. It will sign a raised funds supervision agreement with the sponsor institution and the commercial bank where the raised funds are deposited in accordance with regulations to supervise the storage and use of the raised funds. As of December 31, 2025, the Company has deposited and used raised funds in strict accordance with the provisions of the "Special Account Management Agreement for Raised Funds".

(2) Storage status of raised funds in special account

As of December 31, 2025, the specific deposit status of raised funds (unit: RMB) is as follows:

Opening bank Bank account number Storage balance Remarks

Agricultural Bank of China Co., Ltd.

19940101040053851 38,525,119.48

Tiantai County Branch of the Company

Industrial and Commercial Bank of China Co., Ltd.

1207061129200373526 64,539.63

Co., Ltd. Rooftop Branch

Bank of China Co., Ltd.

353286304547 94,879.77

Sitiantai County Branch

China Construction Bank Co., Ltd.

33050166733509003236 652,553.45

Co., Ltd. Rooftop Branch

Bank of China Co., Ltd.

154089917808 856,949.31

Sikailu branch

Total 40,194,041.64

Among the above deposit balances, interest income of RMB 916,100 from the special account for raised funds has been included (including interest income of RMB 916,100 in 2025), and handling fees of RMB 2,000 have been deducted (including handling fees of RMB 2,000 in 2025).

3. Actual use of funds raised this year

(1) For details on the actual use of raised funds this year, please see Appendix 1: Comparison table of the use of raised funds.

(2) Advance investment and replacement of fundraising projects

On July 7, 2025, the company held the 18th meeting of the fourth board of directors and the 16th meeting of the fourth board of supervisors, and reviewed and approved the "Proposal on Using Raised Funds to Replace Self-raised Funds Pre-invested in Fund-raising Projects and Issue Fees Paid", and agreed that the company would use raised funds of 32.2499 million yuan to replace self-raised funds pre-invested in fund-raising projects and paid issuance fees.

(3) Temporarily supplementing working capital with idle raised funds

During the reporting period, the Company did not use idle raised funds to temporarily replenish working capital.

(4) Cash management of idle raised funds and investment in related products

On July 7, 2025, the company held the 18th meeting of the fourth board of directors and the 16th meeting of the fourth board of supervisors, and reviewed and approved the "Proposal on the Use of Idle Raised Funds for Cash Management", agreeing that the company and its subsidiaries will use temporarily idle raised funds with an amount not exceeding RMB 230 million for cash management to purchase properties with high security, good liquidity, and capital guarantee agreements. Cash management products of banks and other financial institutions with product terms not exceeding 12 months (including but not limited to structured deposits, large certificates of deposit, etc.). The use period is valid for 12 months from the date of review and approval by the company's board of directors. Within the above quota and period, the funds can be used on a rolling basis.

The purchases and redemptions of financial products (including structured deposits) during this period are as follows:

Unit: RMB 10,000

Trustee Product name Purchase amount Purchase date Maturity date Income for the year Whether to redeem or not Ending balance

Bank of China shares

RMB structured deposits

Co., Ltd. Rooftop 5,000.00 2025-8-7 2025-9-8 2.63 Yes CSDVY202510655

County branch