/China Plastics Co., Ltd.: Guosen Securities Co., Ltd.’s listing sponsorship letter regarding the company’s initial public offering of shares and listing on the GEM

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China Plastics Co., Ltd.: Guosen Securities Co., Ltd.’s listing sponsorship letter regarding the company’s initial public offering of shares and listing on the GEM

Shenzhen Stock Exchange

2026/09/02

Guosen Securities Co., Ltd.’s listing sponsorship letter regarding the initial public offering of shares and listing of Guangdong Zhongsu New Materials Co., Ltd. on the GEM

Sponsor (lead underwriter)

(Floors 16 to 26, Guosen Securities Building, No. 1012, Hongling Middle Road, Luohu District, Shenzhen)

September 2026

Sponsor Statement

This sponsor and the two designated sponsor representatives are based on the Company Law of the People's Republic of China (hereinafter referred to as the "Company Law"), the Securities Law of the People's Republic of China (hereinafter referred to as the "Securities Law"), The "Measures for the Registration and Management of Stocks for Initial Public Offerings" (hereinafter referred to as the "Registration Management Measures") and other laws and regulations, as well as the relevant regulations of the China Securities Regulatory Commission (hereinafter referred to as the "China Securities Regulatory Commission") and the Shenzhen Stock Exchange (hereinafter referred to as the "SZSE"), are honest, trustworthy, diligent and responsible, and issue this listing sponsorship letter in strict accordance with the business rules and industry self-discipline standards formulated in accordance with the law, and guarantee that the documents issued are true, accurate and complete.

Unless otherwise specified, the abbreviations in this listing sponsorship letter have the same meaning as the abbreviations in the Prospectus for the Initial Public Offering of Stocks and Listing on the GEM of Guangdong Zhongsu New Materials Co., Ltd.

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1. Basic information of the issuer

(1) Introduction to the issuer

Chinese name: Guangdong Zhongsu New Materials Co., Ltd.

English name: Guangdong Sinoplast Advanced MaterialCo., Ltd.

Registered address: No. 355 Bubu Gao Road, Chang'an Town, Dongguan City, Guangdong Province

Date of establishment of the company: September 18, 2009

Date of establishment of joint-stock company: July 13, 2022

Contact information: 0769-81585115

Business scope: General items: manufacturing of bio-based materials; sales of bio-based materials; manufacturing of new membrane materials; sales of new membrane materials; manufacturing of ecological environment materials; sales of ecological environment materials; manufacturing of engineering plastics and synthetic resins; sales of engineering plastics and synthetic resins; manufacturing of high-performance fibers and composite materials; sales of high-performance fibers and composite materials; manufacturing of synthetic fibers; sales of synthetic fibers; manufacturing of synthetic materials (excluding hazardous chemicals); sales of synthetic materials; manufacturing of special electronic materials; sales of special electronic materials; manufacturing of graphite and carbon products; sales of graphite and carbon products; chemical products Production (excluding licensed chemical products); sales of chemical products (excluding licensed chemical products); manufacturing of plastic products; sales of plastic products; manufacturing of rubber products; sales of rubber products; recycling of renewable resources (except productive scrap metal); processing of renewable resources; sales of renewable resources; property management management; housing leasing; non-residential real estate leasing; machinery and equipment leasing; investment activities with own funds; new material technology research and development; new material technology promotion services; technical services, technology development, technical consultation, technology exchange, technology transfer, technology promotion; import and export of goods; import and export of technology. (Except for projects that require approval according to law, business activities can be carried out independently with a business license and in accordance with the law)

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(2) Main business

The company's main business is the research and development, production and sales of modified engineering plastics. The company's main products are used in consumer electronics, energy storage, automobiles, home appliances and other industries. End products include mobile phones, smart wearable devices, tablets and laptops, Bluetooth speakers, energy storage power supplies, new energy vehicles and home appliances and other products. The company combines the rapid product iteration and high-quality requirements of consumer electronics and other industries, and is guided by the product differentiation strategy, focusing on the development of high value-added modified engineering plastic products to meet the personalized needs of downstream products for materials.

The company insists on independent research and development and continues to enrich its product series. Its core products include modified PC, PC/ABS, PA, PPA, PBT, PET and other high-performance engineering materials. In response to the specific needs of customer products for electrical interconnection, low dielectric, high temperature resistance, waterproof and heat dissipation, it has developed laser direct formable (LDS) materials, nano injection molding (NMT) special engineering materials, ultra-high temperature resistant special nylon materials and other special functional materials.

The company's products have been recognized by many well-known companies at home and abroad, and its direct customers include major domestic component, module and precision structural parts manufacturing companies, such as BYD, FIZH, Huaqin Technology, Wingtech Communications, Longqi Technology, Changying Precision, Goertek, AAC Technology, Lingyi Intelligent Manufacturing, Luxshare Precision, Jierong Technology, Shuobed, etc. In addition, the company has entered the qualified supplier resource pool of multiple terminal brand customers, including Samsung, Huawei, Xiaomi, OPPO, Transsion, BOSE, Lenovo, Xiaocai Tiancai, Anker Innovation, Zhenghao Technology, BYD, Jiangling and other industry leading companies.

As of December 31, 2025, the company has 95 domestic invention patents. The company is a national high-tech enterprise, Guangdong Provincial Doctoral Workstation, and Guangdong Provincial Engineering Technology Research Center. In 2022, it was awarded the title of "Little Giant" Enterprise by the Ministry of Industry and Information Technology of the People's Republic of China and in 2025 In 2016, it was recognized as one of the first batch of key "little giant" enterprises in the new round of central financial support. It was recognized as a "single champion enterprise in the manufacturing industry" and a "specialized and new small and medium-sized enterprise in Guangdong Province" by the Guangdong Provincial Department of Industry and Information Technology. It participated in the national-level special scientific research project "'Twelfth Five-Year Plan National Science and Technology Support Plan Topic - Development and Industrialization of Key Technologies for the Preparation of High-Performance Polyamide Engineering Plastics" and independently took the lead in undertaking the "Semi-aromatic high temperature resistant PA10T/11" Provincial and ministerial level scientific research projects such as "Key Scientific Issues in the Preparation Process" and "Research and Development of PC Base Mold Internal Decoration Materials and Molding Processes for Large Deep Cavity Parts".

(3) Core technology

The company has independently developed a number of core technologies, all of which have been applied in its main business. The specific core technologies are as follows:

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Preface Technology Technology Technology Application Industrialization

Technical features Corresponding patents

No. Name Source Usage Stage

ZL201611104604.6 Laser direct forming polyamide composite material and its preparation method
ZL201611104603.1 Laser direct forming copolyamide composite material and its preparation method
ZL202111410125.8 Laserable polyphenylene ether composition molded by laser-sensitive technology and its preparation of functional particles, dielectric particles and methods (applied, and was granted the right to polymer resin compound modification after the reporting period)

Controlling laser-sensitive functional particles 4. ZL201210172370.4 Polybutylene terephthalate that can micro-form laser particles and dielectric particles

Applied

Morphology, Improved Laser Sensitivity Composition and Preparation Method

Yu Hua

Energetic particles and dielectric particles are in 5. ZL202210146110.3 polyamide

for, link

Laser polymer resin matrix interface matrix LDS composite materials and their synthesis methods

think, small

Direct surface performance and dispersion performance are the same as those of independent method and large batch size of 1 meter.

Combining laser engraving technology and chemical research and development during molding 6. ZL201611104586.1 laser direct production

VIVO,

Technology: Learn plating technology to bond the interior of the material to copolyamide 6T composite material

Sony etc.

Structural design and surface modification and preparation methods thereof

Terminal products

Optimize and prepare 7. ZL201611103003.3 laser direct

brand

LDS functional dielectric composite bonded polyamide 6T composite materials and materials with better dielectric properties and preparation methods thereof

Performance, excellent mechanical properties 8. ZL201210273668.4 is used for laser direct characterization of energy, thermal stability and coating stable LED light source substrates. Molded high thermally conductive insulating polyamide 66 composition and preparation method thereof

ZL201210272364.6 Laser-formable polyphthalamide composition and preparation method
202510471638.1 Polycarbonate alloy with laser direct forming characteristics

and its preparation method (pending) This technology has active

Reactive toughening of functional groups 1. ZL202010390264.8 An agent, special reinforced structural glass PBT composite material and its preparation method and reaction application of fiber and basic resin

Adaptive compatibilization enhanced preparation 2. ZL201811627620.2 is an NMT composite material that has been applied to PBT/PCT composite materials and its preparation. Nano-nano injection molding process, through three methods and uses

Injection molding of gold autonomous star, small 3, ZL201210541158.0 treated with nanotechnology, a metal and NMT composite material to increase batch molding, research and development, joint toughness polytrimethylene terephthalate alloy production technology, integrated molding, to achieve the ultimate goal of plastic and metal and its preparation method

It is a stable fit and has excellent high-end brands. 4. ZL202111154888.0 Polyparaphenylene has excellent metal adhesion, corrosion resistance, butylene dicarboxylate composition and its preparation method with excellent production capacity and air tightness.

ZL201710193927.5 polyester group texture, making the product lighter and thinner, the compound and its preparation method

Widely used in consumer electronics

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Preface Technology Technology Technology application Industrialization technology characteristics Corresponding patents

No. Name Source Usage Stage Product Field.

ZL202310061813.0 phosphorus silicon flame retardant synergist, ultra-thin halogen-free flame retardant PCABS alloy material and its preparation method

This technology uses phosphorus-based and nitrogen-based

ZL202210002133.7 thin-walled flame retardant and flame retardant synergist

Compounding polycarbonate materials and preparation methods thereof, by compounding aliphatic

ZL202110518279.2 sulfonate polyamide resin and semi-aromatic

Phenolic resin and its preparation method and application family polyamide resin have been applied and carried out

Yu Hua 4. ZL202111423816.1 Flame retardant polyester flame retardant properties and thermal stability

Research on the performance of high-resistance, amide 6 composite materials and their preparation methods, and analysis of resistance

Temperature resistance Autonomous OPPO, 5, ZL201610983440.2 flame retardant increased batch 3 flame system in polyamide (PA)

Fire Technology R&D Xiaomi, strong copolyamide 6T composite materials and its production of flame retardant machines in composite materials

Technique Razer et al. Preparation method

theory, studying different flame retardant systems

Terminal product 6. ZL201610983453.X flame retardant, increased thermal stability and thermal decomposition

brand strong copolyamide composite materials and their preparation rules, thereby preparing a

method

Better flame retardant performance and thermal stability

ZL201610983461.4 halogen-free high temperature flame retardant with fixed performance

Fire-reinforced polyamide composite materials and PA composite materials.

Preparation method

ZL201610991142.8 Flame-retardant reinforced polyamide composite material and its preparation method
ZL201610991142.8 Flame-retardant reinforced polyamide composite material and its preparation method
ZL201210208973.5 Bio-based long carbon chain semi-alicyclic polyamide-imide copolymer and its synthesis method
ZL202010373127.3 A PA46 composite material and its preparation method. This technology uses compound semi-aromatic
ZL202010338522.8 A kind of aromatic high-temperature resistant polyamide tree has been applied

PA66 reinforced material and preparation method thereof, high flow and high temperature resistant polyester Yu Zhenghao

Enhance and apply

Amide resin, as well as adding special technology,

Gao Gang 5. ZL202010332649.9 A kind of PPS special glass fiber, toughening agent and other auxiliaries. Huawei, large batches of 4 low-property composite materials and their preparation methods and application agents, using a special screw combination to develop OPPO and produce warpage. 6. ZL201210545368.7 In-situ increased twin-screw extrusion process. Xiaomi, etc.

Technology to prepare super-tough nylon 66 nanocomposite to obtain high-rigidity and low-warpage end products

Materials and preparation methods

Semi-aromatic high temperature resistant polyamide brand

ZL201210282844.0 in situ amine composite material.

Preparation of super tough nylon 66 alloy and method thereof

ZL201210283148.1 In-situ preparation of super tough nylon 6 alloy and its method
ZL201210250322.2 Preparation of super-tough nylon 6 alloy by in-situ reaction compatibilization method and its preparation method
ZL201210209002.2 rosin base

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Preface Technology Technology Technology application Industrialization technology characteristics Corresponding patents

No. Name Source Usage Staged semi-alicyclic polyamide-imide copolymer and its synthesis method

ZL201210209218.9 rosin-based semi-alicyclic polyamide-imide terpolymer and its synthesis method
ZL201110450285.5 A long carbon chain semi-aromatic polyamide imide and its synthesis method
ZL201110449939.2 A long carbon chain semi-aromatic polyamide imide and its synthesis method
ZL201610860927.1 High temperature resistant copolyamide composition and preparation method thereof
ZL202122408639.X polyethylene terephthalate-1,4-cyclohexanedimethanol ester composition and its preparation method
ZL202010357523.7 A PA9T composite material and its preparation method
ZL201710013146.3 High thermal conductivity insulating copolyamide 6T composite material and its preparation method
ZL201710014341.8 High thermal conductivity insulating copolyamide composite material and its preparation method
ZL201710012981.5 High thermal conductivity This technology uses special glass fiber

Insulating polyamide 6T composite materials and titanium dioxide highly filled semi-aromatic materials have been applied

Yu Hua preparation method

Fragrant high temperature resistant polyamide tree

For, Buddha 7, ZL201710012982.X high thermal conductivity yellow grease, and add high temperature resistant additives

Shanzhao Insulating polyamide composite materials and their preparation toughening agents, antioxidants and other additives, independent large-scale 5 Ming, Bai methods

Whiteness uses multi-stage feeding and special research and development to produce Hong, Lei 8, ZL201610892609.3 high heat-resistant technology twin-screw extrusion screw combination

The high-flow copolyamide 6T composite material produced by Shi and Ou was prepared by the process and obtained high whiteness.

Si Lang et al. and preparation method thereof

Resistant to yellowing, semi-aromatic

Brand 9. ZL201610890227.7 High heat-resistant and high-temperature polyamide composite material.

High flow copolyamide composite material and preparation method thereof

ZL201610890231.3 High heat-resistant and high-flow nylon composite material and its preparation method
ZL201610860926.7 high temperature resistant copolyamide 6T composition and its preparation method
ZL201610855302.6 high temperature resistant polyamide 6T/11 composition and preparation method thereof
ZL201610860927.1 high temperature resistant copolyamide composition and its preparation method
ZL201610854986.8 high temperature resistance

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Preface Technology Technology Technology application Industrialization technology characteristics Corresponding patents

No. Name Source Usage Stage Polyamide 10T/11 Composition and Preparation Method

The combined use of this technology exceeds the cost

Flame-retardant carbonization of macromolecules

ZL202310061813.0 phosphorus silicon retardant and phosphorus flame retardant, sulfonic acid

Flame synergist, ultra-thin halogen-free flame retardant salt flame retardant synergistic flame retardant, manufactured

PCABS alloy material and its preparation method to prepare polycarbonate composite

law

During the combustion process of composite materials

ZL202210002133.7 thin-walled resistor has fast char formation rate and residual resistance. It has been applied

The burning polycarbonate material and its preparation method have the characteristics of high carbon content, which can be used in three aspects:

ZL202110518279.2 Sulfonate effectively prevents polycarbonate composite Xing, Hua

Combustion of thin-walled phenolic resin and its preparation methods and application materials, and the material is, jointly

Flame retardant Autonomous 4. ZL202111474184.1 A kind of phosphorus. Excellent processing performance in large batches of 6 materials. It can be produced in small and large quantities.

Modification research and development of phenanthrene modified sulfonate and its preparation method to produce equipment with excellent flame retardant properties.

Technologies and applications as flame retardants

thin wall products. At the same time, at OPPO

ZL201210424748.5 The synergistic effect of an original specific additive and other terminals

Preparation of high flame retardant polyphenylene ether/ethylene-based method, this material has a better brand

Alloys of chlorotrifluoroethylene copolymers and their low-temperature impact resistance and water resistance

Preparation method

solution performance and high temperature resistance

202310999264.1 has good matte flame retardant wet performance and processing performance.

PC/ASA alloy materials and their preparation can be widely used in 5G communications

Law (applying)

and electronic and electrical fields

Thin wall products.

This technology uses surface

202510017532.4 PC/ABS combined pre-treated fiber and toughening agent

Gold materials and their preparation methods (are being modified with compatibilizer and other additives)

please)

Good fibers and base material resins have been applied

ZL201410198477.5 is used for interface and compatibility. It is proposed in China

The PC/PEI combination of IMD film material has the same and high base material resin rigidity.

Spray-free material and preparation method thereof

timely reduce the loss of toughness, and

Tu Zeng 3. ZL201410198414.

Dispersion properties in material resin MOTO,

Technology 4. ZL201410198480.7 is used for mold and compatibility performance to reduce fiber Edifier

Polycarbonate composition reinforcements for interior decoration technology are used in injection molding and other terminals

and preparation method thereof

The phenomenon of floating fibers on the surface of the product indicates the brand

ZL201310298832.1 can have good appearance at low temperature, or

The molded polycarbonate composition and its composite spray-free technology are used as

Preparation method

Spray-free product.

This technology has been applied to solve the problem of polycarbonate ester (PC) resin's chemical resistance, poor solvent resistance and prone to chemical resistance cracking and low temperature environment.

Independent large batch 8 Defects of easy brittle fracture at low temperature, compound ideal, small 3, ZL201410198199.3PC/PA11 R&D and production modification using different types and viscosity rice, compositions and preparation methods

Technology polyester materials, silicon copolymer MOTO, 4, ZL201410198472.2PC/PA6 PC and silicon-based tougheners, etc., Amazon composition and preparation method

Equivalent terminals with different number average molecular weights 5. ZL201410198204.0PC/PBT

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Preface Technology Technology Technology Application Industrialization

Technical features Corresponding patents

No. Name Source Usage Stage Polycarbonate by Strong Dispersion Brand Composition and Preparation Method

Chemical-resistant composition prepared by screw combination twin-screw extrusion 6. ZL201410198219.7 PC/PET extrusion process and its preparation method

Learn low-temperature-resistant polycarbonate 7. ZL202010338522.8 A composite material. The composite material PA66 reinforced material and its preparation method have good low-temperature toughness, and application

Chemical resistance and processing flow

Good sex and other properties, soaked in glacial acetic acid

The elongation at break after 3 minutes

Normal test numbers can still be achieved

72~85% of the value.

This technology uses coupling

Are agents and surfactants right?

Table of different dielectric particles

surface modification, and adjust the modified

Composite ratio of dielectric particles 1. ZL202111413235.X low dielectric

Applied

and dispersed state to achieve microscopic LCP resin materials and preparation methods thereof

Yu Hua

Dielectric morphology and molecular aggregation state tuning 2. ZL201811626107.1 A kind of polymer

for, three

Adjustable control technology, combined with the material’s own independent phenylene ether/polystyrene composition and its production in large quantities 9 stars, joint

Structural design and surface development of modified parts Preparation methods and uses Production

think, small

Technology modification technology and new technology 3. ZL201810047813.4 a high

End of waiting

R&D and application of process technology, dielectric polyphenylene ether materials and their preparation methods

high end brand

Designed and prepared to have and applications

Low dielectric loss, excellent mechanics

performance and thermal stability

Electrically tunable polymer composites

Material.

ZL202210771915.7 rare earth excitation technology uses different colors of long-lasting afterglow polycarbonate compositions and their textured scattered particles and night preparation methods

Light particles, as well as special compatible 2. ZL202210771908.7 PBT-based modification technology and molding processing have been applied to small luminescent composite materials and their preparation methods. 3. 202311772630.6 special compatibility technology has been used to develop spray-free PC-PCR materials with pearlescent, Chinese 3, 202311772630.6 imitation marble effect surface light, colorful, scattered dots, luminous, three-effect, three-effect, spray-free PC-PCR materials.

Independent large batch 10 effects or metallic appearance effects and other special stars, preparation methods (pending)

R&D and production of composite materials with modified special surface effects. OPPO, 4. ZL201210295454.7 is a high-tech material. The surface effect of this material is excellent, MOTO hardness and high fluidity. It is more effective in spraying technology, and reduces the terminal PC/PMMA/AS alloy and its preparation and requires less post-processing spraying process. Brand manufacturing method

The manufacturing efficiency is also higher, and it has 5. ZL201410198400.8 is used in molds and has good environmental protection. Interior decoration technology film material polycarbonate

Ester alloy and preparation method thereof

This technology has been applied through the use of authoritative

202311772630.6 imitates marble-effect PCR-certified PCR raw materials and is sold in Amazon

Guo's spray-free PC-PCR materials and their materials are combined with the company's thin-walled flame-retardant autonomous Xun and Hua large-volume 11 preparation methods (pending)

Modification Modification Technology, Chemical Resistance Modification Research and Development, Xia Production

ZL202010318083.4 A kind of PC technology, spray-free toughening and reinforcement, general grade final

Composite materials and preparation methods thereof

Modification technology, NMT modification end brand

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Preface Technology Technology Technology application Industrialization technology characteristics Corresponding patents

No. Name Source Usage Stage technology and other technologies will definitely be compared to

Examples of PCR raw materials and substrates

The resin is blended and modified to make

prepared with different performance

or functional low-carbon green ring

Preservation materials, which consume waste

Plastic waste, to a certain extent

Reduce carbon emissions.

This technology uses different resistance

Oxygen and weathering agent compound, through

Test different polymer materials

and alloys such as PC,

PC/ABS, ABS,

202411326433.6 Polymethacrylene PMMA, ASA and other thermally stable

Methyl acid ester composition and its preparation method with high-definition properties and UV aging resistance have been applied

(Applying now)

The sub-material can match the natural weather resistance and improve the weather resistance.

Conduct research on the resistance of 2024113622232 polymethacrylic materials, and simultaneously analyze the methyl 12 acid alloy and its preparation method of different independent manufacturers and large batches (the research and development of compound antioxidant/weather-resistant agent body is pending, and production by Yadi and others is under application)

Sex technology system for different polymer materials and end products

ZL201210128777.7 permanently resists the thermal and oxygen aging of alloys and alloys.

Electrostatic ABS composite materials and their preparation mechanism. Through systematic research

method

Research and analysis to select the best heat

Stable/weather-resistant compound system system

Equipped with good thermal oxygen aging

Materials with excellent chemical and weather resistance properties

Material.

202510024066.2 Polyamide composition and preparation method thereof (pending)
ZL202210771911.9 luminescent transparent nylon resin and its synthesis method
ZL201210259743.1 Preparation of polyamide 66/high-density polyethylene composition by in-situ reaction compatibilization method and its preparation method
ZL202010327918.2 This technology is used through compounding and has been applied

PA1010 composite materials and their preparation methods are different from glass fiber and hollow glass Yu Hua

lightweight method

Glass beads, heat stabilizing additives, for, three

Chemical modification Autonomous 5. ZL201210326133.9 In-situ reaction in large quantities 13 and combination of unique screw star and link

Sexual technology R&D Preparation of high-density polyethylene by compatibilization method/Production combination and other process parameters Preparation of ideas, small

Technology Polyamide 6 laminated barrier materials and their methods to obtain lightweight, low-density special meters and other final products

law

Nylon material. high end brand

ZL201210326121.6 Preparation of high-density polyethylene/polyamide 66 laminated barrier materials by in-situ reaction compatibilization method and method thereof
ZL201210282845.5 In-situ preparation of super tough green nylon 11 alloy and its method
ZL201210253927.7 in-situ reaction

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Preface Technology Technology Technology Application Industrialization

Technical features Corresponding patents

No. Name Source Usage Stage should be prepared by compatibilization method Polyamide 6/high density

Polyethylene composition and preparation method thereof

ZL201210253936.6 in-situ reaction

Polyamide 11/high density should be prepared by compatibilization method

Polyethylene composition and preparation method thereof

ZL201210251302.7 a long

Carbon chain semi-aromatic polyamide and its synthesis

method

ZL201210208544.8 bio-based

Long carbon chain semi-alicyclic polyamide-imide

PA10I and its synthesis method

ZL201210128731.5 super tough green

Colored nylon 11 alloy and preparation method thereof

(4) R&D level

The company’s technical reserves

Up to now, the main R&D projects and progress of the company are as follows:

Preface Stage and industry technical level

Project name Objectives to be achieved

Comparison of numbers and progress

By adding hollow glass beads and low dielectric glass fiber method, while optimizing the extrusion process, the material retains its toughness effect and maintains its excellent toughness while maintaining its good mechanical constants and loss performance.

Made of polyester (PC, PBT, PET,

High-strength polyester and its PETG, PCTG, etc.) are used as the base material, and are filled with glass fiber and matched with corresponding functional additives to improve the mechanical properties and performance characteristics of the material.

Heat and chemical resistance, etc.

By using long carbon chain nylon (PA1010,

PA612, PA12, etc.) as the base resin,

Add glass fiber, carbon fiber, glass beads, minerals

Compared with similar products, nylon materials with long carbon chains, fibers, etc. are used as reinforcing components, and flame retardant is added.

Development and application of functional additives such as additives, compatibilizers, and laser engraving powders at the trial production stage with good mechanical properties.

Performance, surface appearance and finish research Through twin-screw extrusion production with double-side feeding,

type

Obtain good mechanical properties, surface

Floating fibers, dimensional stability, formability, heat

Stable functional materials

By using a twin-screw extruder and injection

Plastic, through PPEK resin, PPS resin. Compared with similar products, it has high temperature resistance composite materials

The high temperature resistant resin is used as the base resin, and the preparation and performance research and development of good appearance properties 4 are included in the trial production stage.

Reinforcing agents and anti-aging additives, etc., make use of melting and mechanical properties and good research

Melt blending technology to prepare high temperature-resistant composite materials with good processing properties

materials and analyze their performance

High impact silicone copolymerization. Compared with similar products, the development and trial production stage of flexible PC materials is mixed with PC resin and silicone PC, and flame retardants and silicone-acrylic tougheners are added to further improve the chemical properties and corrosion resistance of the material.

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Preface Stage and industry technical level Project name Objectives to be achieved

Comparison of numbers and progress

Flame retardant and impact resistance. Add appropriate

Antioxidants improve the long-term aging resistance of materials

Performance

Compared with similar products, it has high fluidity and is more suitable for high-flow ABS alloys by improving its melt flow properties, optimizing the alloy component ratio, optimizing the additive system selection and processing technology in automotive interior parts, 6 material development and trial production stage. In order to improve its surface appearance and molding stability in the fields of high-flow medical device shells, machine research, mechanical properties, heat resistance, and excellent robots, the material is more cost-effective.

By improving its extrusion processing technology, it has better mechanical performance, better thermal stability, better thermal stability, stronger resistance to chemical corrosion, and better toughness; it has better surface appearance, good thermal stability, strong resistance to chemical corrosion, and good formability. Compared with similar products, the development and application of silicon copolymerized PC material is silicon PC, which can resist the erosion of post-processing materials and process chemicals. Compared with similar products, the development and application of silicon copolymer PC material has been improved. Compared with similar products, the rigidity, strength and impact resistance of the material are better.

Excellent formability, mineral-filled PC/ABS filler, combined with compatibilizer and processing technology

It has better dimensional stability and improves the rigidity and rigidity of PC/ABS alloy.

properties, suitable for thin-walling and application research, heat resistance and dimensional stability, while maintaining

Good impact performance and surface appearance required for lightweight design

Automotive interior parts and electronic equipment housings

By selecting high-gloss ABS substrate and combining

Compared with similar products, gold-forming components (such as PMMA, SAN, etc.)

High-gloss ABS alloy has excellent formability, smooth surface blending, and suitable lubricants and processing

10 Material development and application Trial production stage Good luster, satisfying home appliance technology, improving the surface gloss of the material,

Used to study the fluidity and scratch resistance of panels, decorative parts, etc., to meet the requirements of high appearance

High requirements for appearance

Required application scenarios

Compared with similar products, it has high impact and molding properties by introducing high impact modifier and ABS tree.

High-impact ABS alloy has high resistance and stability, suitable for grease blending, optimizing compatibility and dispersion, and improving

11 Material development and application trial production stage Used to improve the impact strength of materials while maintaining good impact resistance

Research to achieve higher rigidity and processing fluidity of electronic appliances

Housings, tool casings, automotive interior and exterior decoration and other fields

The company’s R&D investment

The company's R&D expenses mainly include R&D personnel salaries, R&D materials costs, etc. During the reporting period, the company

The amount of the company’s research and development expenses and their proportion to the current operating income are as follows:

3-1-3-12

Unit: 10,000 yuan

Project 2025 2024 2023

Research and development expenses 3,057.97 2,534.12 1,574.14

Operating income 74,947.57 69,995.26 53,677.89

Proportion of operating income 4.08% 3.62% 2.93%

The company’s outsourced research and development status

The company uses projects as a carrier to fully integrate the technical advantages of scientific research institutes, universities and enterprises to achieve industry-university

Research linkage. At present, the company has established long-term technical cooperation relationships with many universities to carry out a wider range of engineering plastics,

The development and research work of modified materials and polymer materials provides sufficient technological innovation guarantee for the company's development.

During the reporting period, the entrusted technology development projects performed by the company and universities are as follows:

R&D projects

Serial number Partner R&D content Attribution of R&D results Period Name of confidentiality measures

Colleges and universities implement this

Research and development undertaken by the company

Polycarbonate Tsing Hua Large Contract arising from 2021 1 Both parties shall

Funding, entrust Party B to research

Use new sulfonate science Shenzhen Final research and development results Month to Agreement 1 Use of polycarbonate to withstand

Halogen-free acid salts International research and phased results 2023 1 Observe confidentiality

Migrating sulfonates None

Flame retardants All intellectual property of the Graduate School Month Obligation

Halogen flame retardant

The rights are enjoyed by both parties

Both sides conduct high-performance

Both parties can apply for plastic formula design and production

2022 6 Both parties will develop the research and development of new plastic materials based on the key to high-performance modification and application. The agreement stipulates that the development and use of multi-functional plastics and related rights will be developed in 2025.

Problems in the plastics industry

to conquer

University project manager

People need to submit to the company

For relevant research parties

To invention patent 2

1 paper,

The research and development direction is to be reduced to 2023 4. Both parties will comply with the environmentally friendly modification patent signature rights.

Hunan Daxing Engineering Plastics, Recycling Month to Month The agreement stipulates that for the development of 3 materials, the first inventor will be paid a high salary

Study PCR materials, bio-based materials. 2025 4. Obey confidentiality and issue school personnel. Other high

Long carbon chain nylon, etc. Month Obligation

The school produces the most

final R&D results and

phased results

Intellectual property rights belong to both parties

party enjoys

High performance low High performance low dielectric research content belongs to double

In July 2023, both parties will design and own the plastic formula according to the dielectric engineering process.

Dongguan Manager Month to Agreement stipulates that personnel involved in the research, preparation and application of plastics shall have the right to apply.

College of Engineering 2025 6 Observe the confidentiality of R&D and industrial key technologies, and apply for patents and other knowledge

month obligation

Chemical application, research and development of various industrial products, signature right of property rights

3-1-3-13

R&D projects

Serial number Partner R&D content Attribution of R&D results Period Name of confidentiality measures

Cheng Plastics; by product

Feature Optimization Formulator

technology, reducing product production

cost

Develop high-performance PC

Gold and composite materials

High performance PC

R&D and industrialization should be completed in 2023 9. Both parties shall enjoy papers,

Taiyuan Industrial Co., Ltd. Party A agreed on the patent rights of 5 composite materials in the PC month to

Industrial College Composite Materials Field 2024 9 Comply with confidentiality R & D and production unit for the company

Research basis, further monthly voluntary industrial application

Develop high-performance PC

Gold and composite materials

Guangdong Group conducts new high-performance

Development of Xin Industrial PMMA materials

New high performance company enjoys research 2024 1 Both parties follow

Technology collaboration to solve PMMA

PMMA development results and phase agreement 6 Same innovation The material becomes foggy and white

Switching of Materials Intellectual Property Rights 2025 Compliance with Confidentiality

Research institute problems and realize PMMA

Profit December Obligation Co., Ltd. The material’s high toughness and

Division Chemical Resistance

Optoelectronic materials

materials, packaging

Glue in solution Research and develop optoelectronic materials

The company enjoys research in 2024 6 Both parties will process calcium titanium Shenzhen materials and encapsulating glue in solution

Development results and phases From January to July, the agreement stipulates that 7 mineral solar energy industry technologies will process perovskite solar energy.

Regarding Intellectual Property Rights 2024 Compliance with Confidentiality Battery Packaging University Energy Battery Packaging Technology

Leeds December Compulsory technical fields Field of application

applied research

study

Developed with high dielectric

Constant, low dielectric loss

composite dielectric materials

5G dielectric materials company enjoys thesis, 2024 7 Both parties follow

Can be filled with high

The development of Wuhan patent has the right to sign the patent, and the agreement stipulates that 8 dielectric fillers can be used to achieve this.

and applied research have relevant knowledge 2025 6 Observe confidentiality

To meet the needs of 5G communication

Investigate property rights Monthly Obligation for high-level introduction of electronic products

Electrical constant and low dielectric

loss requirements

High cost

Performance Engineering Research and Development Low Cost

2024 9 Both parties will enjoy papers,

Taiyuan Ke Yue to The agreement stipulates 9 composite materials and patent rights for composite materials, of which the first

Technical University 2025 8 Observe the confidentiality of the preparation and Preparation and industrialization shall be a unit for the company

Monthly voluntary industrial application

use

Low dielectric loss

Guangdong Group Company-owned research on PC/ABS materials 2025 1 Both parties shall conduct flame retardant according to consumption

Xin Industry has poor flame retardant performance and media development results and phase 10 PC/ABS as agreed in the agreement

Technology Association Problem of high power loss, related to intellectual property rights 2027 Compliance with confidentiality composition

Innovate through innovative technologies and profits December voluntary R&D

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R&D projects

Serial number Partner R&D content Attribution of R&D results Period Name of confidentiality measures

Research institute process research and development comprehensive

Excellent performance low media

Electrical loss flame retardant

PC/ABS composition,

Solve signal transmission delay

Delay, high energy consumption, heat

big questions to meet

Electronic product casing, electricity

Wires and cables, electrical components

and 5G communications and other fields

for high-performance materials

request

Special PC/ABS alloy

Special

The company has the right to research the development and performance of materials. In 2024, both parties will agree in accordance with PC/ABS Shenzhen Job

Testing, pilot testing, processing development results and relevant information December to Agreement 11 Alloy materials industry technology

and 3C electronic products, related intellectual property rights 2025, abide by confidential research and development and universities

Compulsory application of benefits in the field of medical devices in December

Application

High performance

2025 2 Both parties will enjoy papers,

Taiyuan Industrial Co., Ltd. agreed on the R&D and industrial patent rights of 12 amines from 12 months to 12 months, of which the first

Industrial College 2025 Comply with confidentiality Industrialized application One unit is the company

December compulsory

Develop a smart home that satisfies

High flame retardant type 2025 Both parties shall comply with

Juhe New Energy Vehicle Company enjoys papers,

Polyamide-based Taiyuan Branch November to 13th, the agreement stipulates the use of patent rights in different scenarios, of which the first

Composite Materials University 2026 Observe confidentiality

Demand for polyamide based units for companies

Developed November voluntary series of products

Developing high-end 5G communications

Dielectric Low Loss Polyester Research Contents

High dielectric low 2025 Both sides follow

The material formula design and preparation are owned by both parties.

Loss of polyester Dongguan Management November to 14 The agreement stipulates that key personnel in equipment and application have the right to apply

Materials Research College of Engineering 2026 Observe confidentiality

Technology research and development, especially patents and other knowledge

Published November Obligation is for authorship of LDS Dielectric property

material requirements

The company’s core technical personnel and R&D personnel

(1) Composition of R&D personnel

The company's R&D personnel identification standard is those engaged in R&D work, including those directly engaged in R&D work.

Professionals and those closely related to R&D activities. For a small number of people who are engaged in both R&D and non-research activities,

Personnel engaged in R&D activities, the company’s criterion for identifying the above persons as R&D personnel is the proportion of working hours in R&D activities in the current period

Not less than 50%. The composition of the company's R&D personnel at the end of each reporting period is as follows:

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Unit: person

Project 2025-12-31 2024-12-31 2023-12-31

R&D personnel 93 58 51 Number of employees 459 380 333 Proportion of R&D personnel 20.26% 15.26% 15.32% During each reporting period, the academic distribution of R&D personnel is as follows:

Unit: person

2025-12-31 2024-12-31 2023-12-31

Educational qualifications

Number of people Percentage Number of people Percentage Number of people Master's degree or above 11 11.83% 8 13.79% 4 7.84% Bachelor's degree 25 26.88% 19 32.76% 18 35.29% Junior college and below 57 61.29% 31 53.45% 29 56.86%

Total 93 100.00% 58 100.00% 51 100.00%

(2) Criteria and basis for identification of core technical personnel

Based on the needs of production and operation and the actual role of relevant personnel in the company's production and operation, the company mainly considers the following factors in the specific identification of core technical personnel:

① Hold important positions in the company's R&D and product departments, and be the company's technical director or main member of the R&D department; ② Have a profound professional knowledge background, rich work qualifications and project experience in the field of modified plastics; ③ Have made important contributions to the company's technology and product R&D, are the main R&D personnel of the company's core technologies, and are participants in the company's major scientific research projects; ④ Play a leading role in the company's development planning, technological innovation and product system construction, and are the decision-makers of the company's technology development. Taking the above criteria into consideration, the company determined Liu Xianyong, Wang Zhongqiang, Tan Shanxing, and He Yingxin as the company's core technical personnel.

(3) Background information of core technical personnel

The company has a total of 4 core technical personnel, namely Liu Xianyong, Wang Zhongqiang, Tan Shanxing, and He Yingxin. The core technical personnel’s main qualifications, specific contributions to the company’s R&D, important scientific research achievements and awards are as follows:

Professional title or major: Research and development for the company

Serial number Name Important scientific research achievements and awards

Specific contribution of qualifications

Mainly responsible for 11 authorized invention patents, 8 utility model patents for molecular materials, and published 2 papers in core journals. The project "High Fluidity, New Material Research and Development of Flame-Retardant Polycarbonate Alloy Materials" led by Yufa and Engineering Plastics won the first prize of the Innovation Dongguan Science and Technology Progress Award and the first prize of Guangdong Province in 2024. Liu Xianyong Senior Engineer

Modification Equipment Engineering The third prize in science and technology of the High-tech Enterprise Association, the leading technological research and technology "Low warpage, high rigidity, ultra-high fluidity fiber-added modified polycarbonate management and other work, won the Dongguan City Science and Technology Progress Award in 2017 as the second prize in the reporting period, and participated in the national standard "Plastic Symbols and Abbreviations"

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Professional title or major: Research and development for the company

Serial number Name Important scientific research achievements and awards

Specific contribution of qualifications

Project leader for the drafting and production of multiple R&D terms, Part 2: Fillers and Reinforcing Materials, etc.

Many achievements have been

converted to

It has obtained 114 authorized invention patents, 3 authorized design patents, and 1 authorized utility model patent; published 38 papers, including 7 SCI papers and 5 EI papers, and won 2 Shanxi Province Excellent Academic Paper Awards and 2 Dongguan Science and Technology Paper Awards. Undertaken 1 provincial and ministerial level project, participated in 1 national science and technology support project, 3 provincial and ministerial level projects, 1 innovation team project, and 9 scientific and technological achievement appraisals. PA

The project patent of "Technology Research and Development" was awarded the National Petrochemical Industry Synthesis and Modification Award in 2020

Patent Excellence Award, related technology won the 2017 Dongguan Science and Technology Research, PPO High

The second prize of Science and Technology Progress Award and the third prize of Guangdong Province Science and Technology Progress Award for Performance Research in 2018,

Award; Responsible for the "Flame-retardant Polycarbonate Composition" project specializing in dielectric material research

Li won the Dongguan City Patent Excellence Award in 2014 for research and absorbing materials.

2017 Guangdong Provincial Patent Excellence Award; Responsible for "Cryogenic 2" Wang Zhongqiang Senior Engineer R&D, etc., and

Molded polycarbonate composition" project patent obtained 2017 Guangdong Provincial Project

Dongguan City Patent Excellence Award; Responsible for the "High Temperature Resistant Polyamide Center Management and

Responsible for research work on the synthesis and application of amine (PA10T, PA11/10T) resins

"Key Technology Development" project patent was obtained in Dongguan City during the full-time reporting period in 2018

Lee Excellence Award; Responsible for multiple research and development projects of "high-performance environmentally friendly materials for automobiles"

The "Development and Application of Key Technologies" project won the 2020 National Project Leader

The second prize for scientific and technological progress in the petrochemical industry; the project he was responsible for "Development of High Flow Flame-Retardant Polycarbonate Alloy Materials" won the first prize of the 2024 Innovative Dongguan Science and Technology Progress Award and the third prize of the Guangdong High-tech Enterprise Association Science and Technology Award; the project he was responsible for "Development of High Temperature Resistant Polyamide Functional Materials" won the first prize of the 2025 Innovative Dongguan Science and Technology Award and the second prize of the Guangdong High-tech Enterprise Association Science and Technology Award.

Mainly responsible for

6 authorized invention patents have been obtained. The leading "high-flow PA, PPA,

"Development of Flame-Retardant Polycarbonate Alloy Materials" project in 2024 PPS, LCP, etc.

Won the first prize of the Innovation Dongguan Science and Technology Progress Award. Leading the research and development of "resistant 3 materials" Tan Shanxing Assistant Engineer,

"Development of high-temperature polyamide functional materials" project won the 2025 reporting period

The first prize of the annual innovation Dongguan Science and Technology Award, multiple R&D projects within the Guangdong Provincial High-tech Zone

Second Prize in Science and Technology Award of Technology Enterprise Association.

Project leader

Mainly responsible for blocking

3 authorized invention patents have been obtained. The leading "high flow flammable PC, flame retardant

"Development of Flame-Retardant Polycarbonate Alloy Materials" project in 2024 PC/ABS Alloy

Won the first prize of the Innovation Dongguan Science and Technology Progress Award and the Guangdong Province Advanced Materials Research Award

4 He Yingxin, Engineer, Third Prize in Science and Technology Award of New Technology Enterprise Association. Leading hair, responsible for reporting

The "Development of High Temperature Resistant Polyamide Functional Materials" project won several awards during the period.

First Prize of the 2025 Innovative Dongguan Science and Technology Award, Responsible for the Guangdong Provincial Development Project

Second Prize of Science and Technology Award of High-tech Enterprise Association.

people

(4) Constraint and incentive measures implemented by the issuer for core technical personnel

3-1-3-17

The company attaches great importance to motivating talents and has established a complete salary and welfare system and performance appraisal system. Through various incentive methods such as promotions and performance bonuses, it encourages innovative research and achievement transformation of talents, providing a good environment for the stability and cohesion of R&D innovative talents. In addition, through equity incentives, we jointly share the company's operating results and ensure the stability of the company's R&D team and the sustainable development of core technologies. The company signs a "confidentiality agreement" or a "non-compete agreement" with core technical personnel to restrict the core technical personnel from leaking the company's core technology.

(5) Changes in core technical personnel during the reporting period

During the reporting period, the company's core technical personnel remained unchanged, including Liu Xianyong, Tan Shanxing and He Yingxin. On August 5, 2025, and August 20, 2025, the company held the second meeting of the second board of directors and the fourth extraordinary shareholders' meeting in 2025 respectively, and decided to add Wang Zhongqiang as the company's core technical personnel.

(5) Main operating and financial data and indicators

2025-12-31/ 2024-12-31/ 2023-12-31/

Project

2025 2024 Total assets in 2023 (10,000 yuan) 85,640.68 69,453.69 57,919.16 Owners’ equity attributable to the parent company (10,000 yuan) 58,920.91 45,915.29 35,627.31 Asset-liability ratio (parent company) 19.27% 22.16% 36.65% Asset-liability ratio (consolidated) 31.10% 33.68% 38.49% Operating income (10,000 yuan) 74,947.57 69,995.26 53,677.89 Net profit (10,000 yuan) 12,626.43 10,002.07 7,899.78 Net profit attributable to the owners of the parent company (10,000 yuan) 12,686.04 10,006.08 7,924.10 Attributable to the parent company after deducting non-recurring gains and losses

12,285.37 9,256.66 8,084.74 Net profit of the owner (10,000 yuan)

Basic earnings per share (yuan) 3.43 2.70 2.26 Diluted earnings per share (yuan) 3.43 2.70 2.26 Weighted average return on equity 24.20% 24.54% 29.88% Net cash flow generated from operating activities (10,000 yuan) 9,639.33 10,312.85 5,670.45 Cash dividends (10,000 yuan) - - -R&D investment as a proportion of operating income 4.08% 3.62% 2.93%

(6) Main risks of the issuer

Risks related to the issuer

(1) Risk of price fluctuation of main raw materials

In each reporting period, the company's direct material costs accounted for 91.16%, 91.53% and 90.82% of the main business costs respectively. The company's raw materials include polycarbonate and other plastic substrates, additives, toners, etc., mainly petrochemical

3-1-3-18

products, the prices of which are correlated with the prices of crude oil and petrochemical product intermediates. During the reporting period, affected by factors such as the global supply and demand pattern, raw material costs, industry competition, and downstream demand, the company's raw material purchase prices fluctuated. In 2026, the geopolitical situation in the Middle East was tense, and the prices of crude oil and petrochemical products fluctuated significantly. If the prices of major raw materials rise significantly in the future, and the company is unable to adjust product prices in a timely manner, transmit the pressure of rising raw material prices to downstream, or fails to reduce production costs through optimizing processes, improving efficiency, etc., or fails to do a good job in inventory management during raw material price fluctuations, the company's operating results will be adversely affected. Taking into account factors such as stockpiling before raw material price increases and the transmission of price increases to downstream, the sensitivity of the company's raw material price increases to gross profit margin and net profit in each period of the reporting period is calculated as follows:

direct materials

Cost transmission ratio Project 2025 2024 Cost increase in 2023

Gross profit margin change percentage -5.13 -4.91 -4.98 100%

Net profit change rate 0.00% 0.00% 0.00% Gross profit margin change percentage -6.25 -6.12 -6.16 90%

Net profit change rate -9.50% -11.78% -10.85% 30%

Gross profit margin change percentage -7.42 -7.37 -7.38 80%

Net profit change rate -19.00% -23.55% -21.70% Gross profit rate change percentage -8.62 -8.66 -8.64 70%

Net profit change rate -28.50% -35.33% -32.55% Gross profit margin change percentage -3.60 -3.46 -3.51 100%

Net profit change rate 0.00% 0.00% 0.00% Gross profit margin change percentage -4.37 -4.29 -4.31 90%

Net profit change rate -6.33% -7.85% -7.23% 20%

Gross profit margin change percentage -5.16 -5.14 -5.14 80%

Net profit change rate -12.67% -15.70% -14.46% Gross profit margin change percentage -5.97 -6.01 -5.99 70%

Net profit change rate -19.00% -23.55% -21.70% Gross profit margin change percentage -1.90 -1.83 -1.86 100%

Net profit change rate 0.00% 0.00% 0.00% Gross profit margin change percentage -2.30 -2.26 -2.27 90%

10% Net profit change rate -3.17% -3.93% -3.62% Gross profit margin change percentage -2.70 -2.69 -2.69 80%

Net profit change rate -6.33% -7.85% -7.23% 70% Gross profit margin change percentage -3.11 -3.13 -3.12

3-1-3-19

direct materials

Cost transmission ratio Project 2025 2024 Cost increase in 2023

Net profit change rate -9.50% -11.78% -10.85% (2) Risks of stable supply of raw materials

During the reporting period, the raw materials purchased by the company mainly included plastic base materials, additives, toners and other categories. Among them, the plastic base materials were petrochemical products, accounting for nearly 70% of the purchases. The company's plastic substrate procurement channels cover leading chemical companies such as Covestro and Wanhua Chemical. At the same time, the company combines the domestic production capacity supply situation and purchases from well-known manufacturers such as Shenma Group, Luxi Chemical, Ganning Petrochemical and their authorized dealers. The company has established a diversified and hierarchical supplier structure. During the reporting period, the raw material procurement channels were smooth and the material supply was stable and orderly.

In 2026, the geopolitical situation in the Middle East will be tense, the prices of crude oil and petrochemical products will fluctuate significantly, and the global chemical supply chain will be under obvious pressure. If subsequent geopolitical conflicts continue to escalate, causing the company's upstream core suppliers to significantly reduce production, suspend production or even cut off supply, and the company is unable to find alternative raw materials and suppliers with suitable technical indicators and quality standards in the short term, the company may face the risk of shortage or even supply interruption of core raw materials, which will have a significant adverse impact on the company's production, operations and profitability.

(3) Risk of slowdown in performance growth or decline in performance

During the reporting period, the company's operating income was 536.7789 million yuan, 699.9526 million yuan and 749.4757 million yuan respectively, with growth rates of 30.40% and 7.08% respectively; the net profits attributable to shareholders of the parent company after deducting non-recurring gains and losses were 80.8474 million yuan and 92.56666 million yuan respectively. million and 122.8537 million yuan, with growth rates of 14.50% and 32.72% respectively. At present, the downstream products of the company are mainly used in the field of consumer electronics. During the reporting period, the main business income of the consumer electronics field accounted for 65.57%, 70.82%, and 66.90% respectively, and the gross profit margin contribution rates were 21.73%, 24.10%, and 26.01% respectively. IDC data shows that domestic smartphone shipments will decrease by 0.6% year-on-year in 2025, and shipments will decrease by 3.3% year-on-year in the first quarter of 2026. There are fluctuations in downstream terminal market demand. The company is actively deploying new energy vehicles, smart home appliances and other emerging fields. However, the overall gross profit margin level in the aforementioned fields is lower than that of the traditional consumer electronics track, and there is uncertainty in the process of new market expansion. At the same time, affected by the geopolitical conflict in the Middle East, the market prices of the company's main raw materials fluctuated in 2026. According to WIND data, the PC market price increased by an average of nearly 20% from the beginning of 2026 to late May 2026 compared with the end of 2025, which put certain pressure on the company's gross profit margin level. In addition, major companies in the industry continue to promote production capacity expansion and R&D investment, and some companies in the same industry have increased their efforts in application areas that overlap with the company.

Based on the above situation, if the company fails to effectively hedge against fluctuations in consumer electronics terminal demand and steadily promote customer development and order conversion in the fields of new energy vehicles, home appliances and other fields, it may be unable to adjust product prices, product settlement, etc.

3-1-3-20

If we take measures such as structural and formula upgrades to timely and fully transmit the cost of rising raw material prices to the downstream, or are unable to maintain the competitive advantages of our own products, technologies and customer resources in the context of the expansion of production capacity in the same industry, it will have an adverse impact on the company's product sales, selling prices and profit levels, and the company will face the risk of further slowdown in performance growth or decline in performance.

(4) Risk of decline in gross profit margin

In each reporting period, the company's comprehensive gross profit margin was 31.52%, 30.63% and 33.21% respectively. In terms of direct material costs, affected by the geopolitical conflict in the Middle East in 2026, the company's main raw material market prices fluctuated. According to WIND data, the PC market price increased by an average of nearly 20% from the beginning of 2026 to late May 2026 compared with the end of 2025, which put certain pressure on the company's gross profit margin level. In terms of product structure, in each reporting period, the company's products were mainly used downstream in the field of consumer electronics. The gross profit margin of products in this field was relatively high, respectively 33.13%, 34.03% and 38.88%; the company is simultaneously actively expanding into the automotive field, and the proportion of main business revenue is increasing year by year, respectively 3.36%, 7.33% and 10.25%. However, since the gross profit margin level in the automotive field is generally lower than that of consumer electronics, which is 29.24%, 19.84% and 16.82% respectively, the increase in its revenue proportion is expected to lower the company's comprehensive gross profit margin level.

Based on the above situation, if the price of the company's main raw materials rises significantly and the company is unable to timely and fully transmit the cost of raw material price increases to downstream customers, or the company's development of mid-to-high-end markets in the automotive field does not meet expectations, or it fails to steadily promote the development and order conversion of customers with high gross profit margins in new fields such as smart homes and smart imaging equipment, or the technical barriers of the company's existing products are broken and the core competitiveness of the products decreases, it may cause the company's gross profit margin to decline, which will in turn have an adverse impact on operating results.

(5) Risk of changes in major customers

The company is located in the upstream of the industrial chain in the main terminal application fields. Its direct customers are mainly components, modules and precision structural parts manufacturing companies. The customers are large in number and scattered. During the reporting period, affected by the customers' own needs, the company's business development and product structure changes, the company's sales to major customers and the structure of the company's major customers changed. Although major customers are usually able to continue transactions with the company, if the major customers adjust their strategies or their own operating needs undergo adverse changes, or the company is unable to maintain and develop cooperative relationships with existing major customers, the company will face the risk of changes in major customers, which will have an adverse impact on the company's operating results.

(6) Product technology iteration risk

With the development of industrial technology, terminal applications are rapidly iterating, and new products are constantly emerging. The emergence of emerging products and applications represented by humanoid robots, low-altitude economy and other fields has put forward higher requirements for material performance.

3-1-3-21

If it cannot continue to maintain R&D investment and technological innovation, it will be difficult for the company to maintain its current market position and share, and it will also be difficult to adapt to the development trends of terminal applications, which will have an adverse impact on the company's competitiveness and future sustained profitability.

(7) Risk of core technology leakage

As an important area of the new materials industry, modified plastic products are mainly developed and produced according to the specific requirements and needs of downstream customers. They are highly professional and targeted. In particular, high-end modified plastic products have high technical content in formulas and processes. Product formulas and production processes are an important part of the company's core competitiveness. If the company's patented, non-patented technology and other research and development results are leaked in the future, and effective solutions are not taken in a timely manner, it may have an adverse impact on the company's business development.

(8) Risk of unrecoverable accounts receivable

At the end of each reporting period, the book values of the company's accounts receivable were 212.6623 million yuan, 202.8023 million yuan, and 246.4403 million yuan respectively, accounting for 36.72%, 29.20%, and 28.78% of total assets respectively. Due to the seasonal characteristics of the company's main downstream application areas, especially the consumer electronics industry, the company's end-of-period accounts receivable amount and proportion are both relatively high. If the company's customer credit status and operating conditions deteriorate, and accounts receivable cannot be collected on time or even cannot be collected, it will have an adverse impact on the company's financial status and operating results.

(9) Large inventory amount and risk of price decline

At the end of each reporting period, the company's inventory book balances were RMB 78.9987 million, RMB 85.5326 million, and RMB 78.0586 million respectively. The balances of inventory depreciation provisions accrued were RMB 8.6607 million, RMB 11.6944 million, and RMB 11.8427 million respectively. The book values of the inventories were RMB 70.3379 million, and RMB 73.8382 million respectively. million and 66.2159 million yuan, accounting for 12.14%, 10.63% and 7.73% of total assets respectively. If there are adverse changes in the macro environment, industry policies and market supply and demand in the future, resulting in the company's inventory backlog and price decline, the company will have the risk of adversely affecting its operating results due to the provision of inventory depreciation reserves.

(10) The risk of orders on hand not being executed as expected or being cancelled.

The company's orders on hand at the end of each period were 64.1732 million yuan, 73.9652 million yuan and 76.2584 million yuan. As of the end of April 2026, the company's termination amounts of orders on hand at the end of each period were 32.2457 million yuan, 26.3476 million yuan and 11.1669 million yuan respectively. Excluding major changes in customer demand In the case of new orders, repeated orders and cancellation after placing the wrong order, the company's termination amounts of orders on hand at the end of each period were 19.8742 million yuan, 23.7866 million yuan and 6.3792 million yuan respectively, accounting for the proportion of orders on hand at the end of each period. 30.97%, 32.16% and 8.37%. Consumer electronics is the company's core business area, characterized by multiple product models, high iteration frequency, and frequent changes in demand. company

3-1-3-22

After receiving a customer order, if downstream demand changes or the customer's operating conditions undergo adverse changes, the company's orders on hand may not be executed as expected or may be cancelled.

(11) Working capital turnover risk

The company's direct customers are mainly components, modules and precision structural parts manufacturing companies. Terminal brand customers have a strong say. Their payment cycles are usually long and they may adopt non-cash settlement methods such as commercial bills according to transaction habits. Affected by this, the company's sales collection cycle for direct customers is usually longer. On the other hand, the company's upstream raw material suppliers are mainly well-known domestic and foreign plastic substrate and modification additive manufacturers and traders. Compared with the company's sales collection cycle, the company's purchase and payment cycle is relatively short.

In each period of the reporting period, the ratio of net cash flow generated by the company's operating activities to net profit was 71.78%, 103.11% and 76.34% respectively, maintaining a relatively high level overall. However, if unfavorable situations such as extended customer account periods, increased customer non-cash repayments, or shortened account periods by suppliers may occur in the future, it may put pressure on the company's working capital turnover, or increase the company's financial costs due to short-term borrowings, bill discounting and other financing activities, thereby affecting the company's operating efficiency.

(12) Risks of changes in preferential tax policies

According to the "Administrative Measures for the Identification of High-tech Enterprises", the company was identified as a high-tech enterprise during the reporting period and enjoyed a preferential corporate income tax rate of 15%. In addition to the preferential tax policies for high-tech enterprises, the company or its subsidiaries also enjoyed other preferential tax policies such as income tax and value-added tax during the reporting period. During the reporting period, the tax incentives enjoyed by the company and its subsidiaries accounted for 15.68%, 17.31% and 15.84% of total profits respectively. If the company fails to pass re-certification after its high-tech enterprise qualification expires in the future, or if the relevant preferential tax policies change, the company's tax costs will increase and the company's operating results will be adversely affected.

(13) Management and control risks related to scale expansion

In each reporting period, the company achieved operating income of RMB 536.7789 million, RMB 699.9526 million and RMB 749.4757 million respectively, and its business scale continued to expand. In addition, during the reporting period, the company established new subsidiaries Dongguan Zhongsu and Chongqing Zhongsu to enrich production capacity and expand sales channels. If the company fails to improve relevant operation and management systems as its business scale expands, it may reduce the company's operating efficiency and prevent the company from responding to changes in the market environment in a timely and effective manner, thereby affecting the company's continued profitability.

(14) Environmental risks

The company is mainly engaged in the research and development, production and sales of modified engineering plastics. During the production process, exhaust gas, solid waste and noise will be generated. The company needs to meet the requirements of environmental protection supervision. The company has set up an exhaust gas treatment system in accordance with the requirements to classify and treat the exhaust gas, and regularly delivers the hazardous waste generated by the company to qualified units for removal and transportation.

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Disposal, and take measures such as sound insulation and silencing to reduce noise. With the transformation of my country's economic development model and the full implementation of the sustainable development strategy, the country is paying increasing attention to environmental protection. National and local government departments at all levels may formulate more stringent environmental standards. As a result, companies will face the risk of increased environmental standards and increased investment in environmental protection. If the company fails to strictly implement regulations to properly handle pollutants, and qualified environmental protection treatment units fail to promptly recover and properly dispose of pollutants in accordance with relevant regulations, environmental pollution may result, and the company may be punished by the competent authorities, which may have an adverse impact on the company's production and operations.

(15) Risk of defects in the ownership of the leased house

During the reporting period, the company's business premises were mainly acquired through leasing, and all lease registrations were completed. However, the lessors of some properties leased by the company did not obtain property ownership certificates due to historical reasons. If the lessor fails to renew the lease due to administrative penalties imposed by the relevant competent authorities due to property rights defects, the company may face related risks such as the relocation of its operating office space, the inability to rent similar properties in the same location in the short term, or an increase in house rents, which will adversely affect the company's daily operations.

(16) The risk of being ordered to rectify due to defects in the construction of temporary structures

Based on the need for temporary storage of goods, the company built some iron sheets and other structures in the Dongguan factory. The lessor of the company's land and buildings has been informed of and agreed to the company's erection of the aforementioned structures, but the temporary construction project planning permission has not been obtained for this construction. According to the relevant regulatory documents of Guangdong Province, the company faces the risk of being ordered to make corrections within a time limit and being fined no more than 10% of the construction project cost. If the company fails to find an alternative warehouse or fails to relocate to a new factory in Hongmei Town, Dongguan City, the company may not be able to eliminate the impact of the aforementioned structures in a timely manner, and faces the risk of being ordered to make rectifications and fined.

(17) Risks of some employees failing to pay social security and provident funds

During the reporting period, some employees of the company failed to pay social insurance and housing provident funds. The main reasons for failure to pay social insurance and housing provident funds were that social insurance had not been applied for in the month of employment, part-time employment, retirement and re-employment without payment, and employees voluntarily giving up. Except for the aforementioned circumstances, the company has paid social security and provident funds for its employees in accordance with the law, but the risk of additional penalties imposed by relevant departments on the company's social insurance and housing provident fund payments in the future cannot be ruled out.

Risks related to the industry

(1) Macroeconomic fluctuation risk

The company's main products are modified engineering plastics, which are mainly used in consumer electronics, energy storage, automobiles, home appliances and other industries. Economic growth and macroeconomic fluctuations will directly affect the business development of the company's customers and the consumption of end consumers, thereby affecting the industry to which the company belongs. Therefore, if in the future domestic and foreign

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Adverse changes in the macroeconomic environment, slowdown in economic growth, or sluggish demand in related downstream industries will have an adverse impact on the company's production and operation conditions.

(2) Risks of intensified market competition

Compared with the company, international brand manufacturers represented by BASF, Sabic, Covestro, etc. have first-mover advantages and resource accumulation in terms of technology research and development, funds, talents, etc., and still occupy a large share of the high-end product market. In recent years, domestic companies with similar products have developed rapidly, but in terms of market segments, they are still relatively fragmented. The overall market share of each company is low and the market competition is fierce. The company is committed to independent innovation, implementing differentiation strategies, and forming its own competitive advantages. However, compared with leading domestic and foreign companies, there are still gaps in terms of capital scale and customer coverage. If competitors advance in technology, expand sales scale, and further intensify competition in the market environment, it may result in a relative decrease in the company's market share and adversely affect the company's profitability.

Other risks

(1) Investment project implementation risks

The funds raised by the company from this issuance will be used to build a high-performance engineering materials intelligent production base construction project, Jiangxi Zhongsu production base expansion project, new materials engineering technology research center construction project and supplement working capital. Although the company has conducted careful feasibility analysis in the decision-making process, if unforeseen factors such as the untimely receipt of raised funds are affected, or there are major adverse changes in objective factors such as the economic environment and the supply and demand relationship between upstream and downstream industries, or the company's market expansion is insufficient and industrialization is less than expected, the raised investment project will not be implemented smoothly as scheduled, and the new production capacity of the raised investment project will not be fully digested. Long-term asset investment will bring large amounts of capital expenditures and depreciation and amortization expenses to the company, reducing the company's operating performance and shareholder return rate.

(2) Risk of dilution of relevant financial indicators

After the funds raised from this issuance are received, the company's net assets will be significantly increased. However, due to factors such as the construction cycle, production capacity ramping, depreciation of new assets, market supply and demand, etc., the increase in net profits brought by the investment projects with funds raised this time cannot keep pace with the increase in net assets. Therefore, in the short term, the company's current indicators such as return on net assets and earnings per share may be diluted due to the increase in net assets.

(3) Risk of improper control by the actual controller

As of the signing date of this listing sponsorship letter, the company’s actual controllers are Zhu Huaicai and Deng Lianfang, who collectively control 73.2551% of the company’s shares. Although the company has established a complete corporate governance framework to restrict the behavior of the actual controller, if the company's actual controller uses its controlling position in the future to improperly intervene in the company's development strategy, production and operation decisions, personnel arrangements, related transactions, profit distribution and other major matters, it may have an adverse impact on the interests of the company and other shareholders.

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(4) Risks of major shareholders signing special investment terms and fulfilling repurchase obligations

The investment agreement signed by the company’s actual controller Zhu Huaicai, shareholder Zhu Huaiyu, and investors Tang Jiyu, Zhongzhong Xiaodan Venture Capital, Luoying Huasheng, Yueke New Materials, Yueke Overseas Chinese, and Ruihao Zhongsu stipulates the repurchase obligations of the company’s actual controller Zhu Huaicai and shareholder Zhu Huaiyu. As of the signing date of this listing sponsorship letter, Zhu Huaicai and Zhu Huayu have signed a supplementary agreement with the investor, stipulating that the special shareholder investment terms enjoyed by the investor will terminate on December 31, 2024, or the date when the company's shareholders' meeting makes a resolution to declare a public issuance of stocks and go public. However, it will be reinstated if the application for this listing is not accepted, the review is terminated, the review/registration is not approved, it is voluntarily withdrawn, or it fails to be listed and traded on the stock exchange for other reasons. If the company fails to meet the agreed conditions in the future, the effectiveness of these special investment terms may be restored, and the company's actual controller Zhu Huaicai and the company's shareholder Zhu Huaiyu will face the risk of share repurchase.

(5) Risk of failure of this issuance

The company plans to issue shares to the GEM for the first time and will be issued in accordance with the relevant rules of the GEM after obtaining relevant approvals. The results of this issuance are comprehensively affected by the market environment at the time of issuance, investor preferences and value judgments, stock market supply and demand and other factors. During the stock issuance process, if there are adverse changes in the aforementioned factors, there may be an insufficient number of valid quotations or investors subscribing offline, and the company faces the risk of failure in this public issuance of stocks.

(6) Stock price fluctuation risk

Stock prices in the secondary market not only depend on the company's operating conditions, but are also affected by factors such as interest rates, exchange rates, inflation, domestic and foreign political and economic situations, and investors' psychological expectations. The reasons for stock price fluctuations are complex. The company plans to be listed on the GEM after this issuance of shares. This market has high investment risks. Investors should fully understand the investment risks of GEM and the risk factors disclosed by the company, and make investment decisions prudently.

2. Basic information of this issuance

(1) Basic information of this issuance

Stock type: RMB ordinary shares (A shares)

Par value per share RMB 1.00

Number of shares issued: 12,332,900 shares, accounting for 25% of the total share capital after issuance

Among them: the number of new shares issued is 12.3329 million shares, accounting for 25% of the total share capital after the issuance

Number of shares publicly offered by shareholders Not applicable Ratio of total share capital after issuance Not applicable

Total share capital after issuance: 49,331,495 shares

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Issue price per share【】yuan

【】 times (calculated based on the issuance price per share divided by earnings per share, earnings per share calculated based on the 2025 issuance price-earnings ratio, the audited net profit attributable to shareholders of the parent company before and after deducting non-recurring gains and losses, whichever is lower, divided by the total share capital after this issuance)

3.32 yuan (based on 15.93 yuan in 2025 (based on the lower of the pre-issuance net assets per share and pre-issuance earnings per share) after deducting the audited non-monthly 31st day of the month in 2025.

The parent company's shareholders' equity is divided by the total pre-issuance equity attributable to the parent company's shareholders) and the net profit is divided by the current issuance.

Total share capital before calculation)

【】 Yuan (based on December 31, 2025) 【】 Yuan (based on the audited attribution as of December 31, 2025) Post-issuance net assets per share after deducting non-parent company shareholders’ equity plus current profit and loss, whichever is lower Post-issuance earnings per share

The sum of the net proceeds from the issuance is divided by the net profit attributable to shareholders of the parent company calculated based on the total equity after this issuance. The net profit is divided by the total equity after this issuance)

Issuance price-to-book ratio [ ] times (calculated based on the issuance price per share divided by the post-issuance net assets per share)

This issuance will be conducted through a combination of targeted allotment to investors participating in the strategic allotment, offline allotment to qualified investors, and online pricing issuance to public investors holding non-restricted A-shares and the market value of non-restricted depositary receipts in the Shenzhen market.

Qualified investors participating in the strategic placement, qualified inquiry objects, and natural persons, legal persons, and securities issuance objects who have opened securities accounts at the Shenzhen Stock Exchange and opened GEM trading authority

Securities investment funds and other investors in compliance with Chinese laws, except for participants prohibited by laws, regulations, normative documents, Shenzhen Stock Exchange business rules, etc.

Underwriting method Balance underwriting

Total funds raised【】10,000 yuan

Net amount of funds raised【】10,000 yuan

High-performance engineering materials intelligent production base construction project

Jiangxi Zhongsu Production Base Expansion Project

Raising funds for investment projects

New Materials Engineering Technology Research Center Construction Project

Replenish working capital

The details of the new share issuance expenses are as follows:

Sponsorship and underwriting fees: The sponsorship fee is 6 million yuan, and the underwriting fee is 7.5% of the total funds raised. It is determined by negotiation between the two parties with reference to the average market sponsorship and underwriting rate;
Audit and capital verification fees: 15 million yuan, determined based on factors such as the work requirements of the service, the required working hours, the professional knowledge and work experience of personnel at all levels involved in providing the service;
Lawyer fees: 8.3019 million yuan, determined through friendly negotiation with reference to the average level of lawyer fees in the market, taking into account the service issuance fee estimate, work requirements, workload, working hours and other factors;
Information disclosure fee for this issuance: 5.6509 million yuan;
Issuance fees and other expenses: 446,500 yuan.

The above issuance fees are exclusive of VAT. The issuance fees and other fees do not yet include the stamp tax for this issuance. The tax base is the net amount of funds raised before stamp tax is deducted, and the tax rate is 0.025%. The stamp tax will be calculated based on the final issuance situation and included in the issuance fee. The above fees may be adjusted based on the issuance results. If there is a slight difference between the total and the sum of each sub-item, it is due to rounding.

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The issuer’s senior managers and core employees plan to participate in this transaction through a special asset management plan

For the strategic placement of the issuance, the number of subscriptions is expected to not exceed 10% of the number of this issuance, that is, no more than 1.23329 million shares proposed by senior managers and employees, and the subscription amount is expected to not exceed 83.20 million yuan; the final strategic placement ratio and amount will be determined after the issuance price is determined. The lock-up period for the shares allocated to the asset management plan is 12 months, and the lock-up period starts from the date when the shares of this public offering are listed on the Shenzhen Stock Exchange.

If the issuance price exceeds the median and weighted quotations from offline investors after excluding the highest quotation,

Average, after excluding the highest quoted price, public funds, social security funds, pensions, annuity funds, sponsor-related subsidiaries intend to participate in insurance funds and qualified foreign investor funds, whichever is the lower of the median and weighted average, the situation of this issuance and the strategic placement.

Calculation starts from the date of listing on the stock exchange

Name of shareholder of shares proposed for public offering

Name, number of shares held and plans to disclose

Not applicable

Number of shares offered, issuance fee

apportionment principle

(2) Important dates for this issuance and listing

Date of publication of preliminary inquiry announcement: September 2, 2026

Preliminary inquiry date September 4, 2026

Date of publication of issuance announcement: September 9, 2026

Subscription date September 10, 2026

Payment date September 14, 2026

After the completion of this stock issuance, we will apply for listing on the GEM of Shenzhen Stock Exchange as soon as possible.

Listed on the market

3. Staff status of the project team of the sponsor institution

(1) Sponsor representative

Ms. Su Yanfan: Executive deputy general manager of the investment banking division of Guosen Securities, sponsor representative, and Chinese certified public accountant. From 2011 to 2014, he worked in the audit department of PricewaterhouseCoopers (Special General Partnership). In 2014, he joined Guosen Securities to work in investment banking. He presided over or participated in projects such as the IPO of Neiwei Technology, the IPO of Tongwei Shares, the IPO of Bangyan Technology, the non-public offering of Neiwei Technology, the non-public issuance of Zhaochi shares, the major asset restructuring of Neiwei Technology, the major asset restructuring of Wangsu Technology, the major asset restructuring of Bangyan Technology, the overseas acquisition of Lingyi Intelligent Manufacturing, and the listing of China Plastics on the New Third Board. In the process of practicing the sponsorship business, he strictly abides by the "Measures for the Administration of the Sponsorship Business of Securities Issuance and Listing" and other relevant regulations, and has a good practice record.

Mr. Ma Xuzhou: Business Director of Guosen Securities Investment Banking Division and Sponsor Representative. In 2011, he joined Guosen Securities to work in investment banking. He presided over or participated in projects such as Shenzhen Jiaotong IPO, Shanding Design IPO, Zhongxin Technology IPO, CSSC Anpu IPO, Qixin Group’s 2016 non-public offering, Qixin Group’s acquisition of Yinpeng Cloud Computing, Dianke Power Supply and Oriental Jiahe New Third Board listing. Strictly abide by the

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Comply with the "Measures for the Administration of the Sponsorship Business of Securities Issuance and Listing" and other relevant regulations, and have a good professional record.

(2) Project co-organizer

Ms. Liu Ying: Senior Manager of the Investment Banking Department of Guosen Securities. In 2021, he joined Guosen Securities to work in investment banking, and participated in projects such as the spin-off and listing of Zhaochi Optoelectronics, the IPO of Bangyan Technology, the major asset restructuring of Bangyan Technology, and the listing of China Plastics on the New Third Board. In the process of practicing the sponsorship business, he strictly abides by the "Measures for the Administration of the Sponsorship Business of Securities Issuance and Listing" and other relevant regulations, and has a good practice record.

(3) Other members of the project team

Ms. Wang Luqi: Business Director of Guosen Securities Investment Banking Division and Sponsor Representative. He started engaging in investment banking business in July 2019 and participated in projects such as Sanjiang Electronics IPO, International Composites IPO, Mingji Hi-Tech IPO, Shenzhen Jiaotong IPO and other projects. In the process of practicing the sponsorship business, he strictly abides by the "Measures for the Administration of the Sponsorship Business of Securities Issuance and Listing" and other relevant regulations, and has a good practice record.

Mr. Shen Siyuan: Senior Manager of the Investment Banking Department of Guosen Securities, Chinese Certified Public Accountant, and has legal professional qualifications. From 2021 to 2023, he will work in the Audit Department of Ernst & Young Hua Ming LLP (Special General Partnership) Shanghai Branch. In July 2023, he joined Guosen Securities to engage in investment banking and participated in projects such as Tianyin Holdings’ plan to issue shares to specific objects and the listing of China Plastics Co., Ltd. on the New Third Board. In the process of practicing the sponsorship business, he strictly abides by the "Measures for the Administration of the Sponsorship Business of Securities Issuance and Listing" and other relevant regulations, and has a good practice record.

Ms. Li Qing: Senior Manager of the Investment Banking Department of Guosen Securities, Chinese Certified Public Accountant, and has legal professional qualifications. In July 2023, he joined the Investment Banking Division of Guosen Securities to engage in investment banking work, and participated in projects such as the listing of China Plastics on the New OTC Market. In the process of practicing the sponsorship business, he strictly abides by the "Measures for the Administration of the Sponsorship Business of Securities Issuance and Listing" and other relevant regulations, and has a good practice record.

Mr. Liu Tianzhi: Senior Manager of the Investment Banking Department of Guosen Securities. From 2019 to 2021, he worked at AVIC Industrial Finance Holdings Co., Ltd., mainly engaged in overseas investment and financing of AVIC Industrial Finance. In 2021, he joined Guosen Securities to work in investment banking and participated in projects such as the IPO of Bangyan Technology, the major asset restructuring of Bangyan Technology, Tianyin Holdings' plan to issue shares to specific objects, and the listing of China Plastics on the New Third Board. In the process of practicing the sponsorship business, he strictly abides by the "Measures for the Administration of the Sponsorship Business of Securities Issuance and Listing" and other relevant regulations, and has a good practice record.

Explanation of whether the sponsoring institution has any circumstances that may affect the fair performance of its sponsoring duties

After verification, Guosen Securities, as a sponsor, does not have the following circumstances that may affect the fair performance of its sponsorship duties:

(1) The sponsor institution or its controlling shareholder, actual controller, or important related party holds or participates in

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The strategic placement of shares held by the issuer or its controlling shareholders, actual controllers, and important related parties in this issuance;

(2) The issuer or its controlling shareholder, actual controller, or important related parties holds shares of the sponsor or its controlling shareholder, actual controller, or important related parties;

(3) The sponsor representative and his or her spouse, directors, and senior managers hold shares in the issuer or its controlling shareholder, actual controller, and important related parties, and hold positions in the issuer or its controlling shareholder, actual controller, and important related party;

(4) The sponsor’s controlling shareholder, actual controller, and important related parties provide mutual guarantees or financing with the issuer’s controlling shareholder, actual controller, and important related parties;

(5) Other related relationships between the sponsor and the issuer.

5. Sponsor’s Commitment

This sponsor commits to conduct due diligence and prudent verification of the issuer, its controlling shareholders and actual controllers in accordance with laws and regulations and the relevant provisions of the China Securities Regulatory Commission and Shenzhen Stock Exchange.

Through due diligence and careful verification of application documents, this sponsor commits to the following:

There are sufficient reasons to believe that the issuer complies with laws and regulations and the relevant regulations of the China Securities Regulatory Commission and the Shenzhen Stock Exchange on the issuance and listing of securities;
There are sufficient reasons to believe that the issuer’s application documents and information disclosure materials do not contain false records, misleading statements or major omissions;
There are sufficient reasons to believe that the basis for the opinions expressed by the issuer and its directors in the application documents and information disclosure materials is sufficient and reasonable;
There are sufficient reasons to believe that there is no material difference between the application documents and information disclosure materials and the opinions expressed by the securities service agency;
Ensure that the designated sponsor representative and relevant personnel of the sponsor institution have performed their duties diligently and conducted due diligence and careful verification of the issuer’s application documents and information disclosure materials;
Guarantee that the sponsorship letter and other documents related to the performance of sponsorship duties do not contain false records, misleading statements or major omissions;
Ensure that the professional services and professional opinions provided to the issuer comply with laws, administrative regulations, regulations of the China Securities Regulatory Commission and the Shenzhen Stock Exchange, and industry norms;
Voluntarily accept supervision measures adopted by the China Securities Regulatory Commission in accordance with the "Measures for the Administration of the Sponsorship Business of Securities Issuance and Listing"

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management measures and voluntarily accept the self-regulation of the Shenzhen Stock Exchange;

Other matters stipulated by the China Securities Regulatory Commission and Shenzhen Stock Exchange.

6. The issuer has fulfilled the statutory decision-making procedures for this securities issuance and listing.

This issuance was reviewed and approved by the 14th meeting of the issuer's first board of directors and the second extraordinary general meeting of shareholders in 2025, and complies with the "Company Law", "Securities Law" and the decision-making procedures stipulated by the China Securities Regulatory Commission and the Shenzhen Stock Exchange.

7. Sponsor’s explanation of whether the issuer meets the GEM listing conditions

This sponsor conducted an item-by-item verification on whether the issuer complies with the listing conditions stipulated in the "Shenzhen Stock Exchange GEM Stock Listing Rules". The details are as follows:

(1) Comply with the issuance conditions stipulated by the Securities Law and the China Securities Regulatory Commission

This issuance complies with the issuance conditions stipulated in Article 12 of the Securities Law

This sponsor has conducted due diligence and prudent verification on whether this securities issuance complies with the issuance conditions stipulated in the Securities Law. The verification conclusions are as follows:

(1) The issuer has a sound and well-functioning organizational structure;

(2) The issuer has the ability to continue operating;

(3) The issuer’s financial accounting reports for the past three years have been issued with unqualified audit reports;

(4) The issuer and its controlling shareholders and actual controllers have not committed any criminal offenses of corruption, bribery, misappropriation of property, misappropriation of property or undermining the order of the socialist market economy in the past three years;

(5) The issuer meets other conditions specified by the securities regulatory authority of the State Council approved by the State Council. The issuer complies with the provisions of Article 12 of the Securities Law.

This issuance complies with the issuance conditions stipulated in the "Registration Management Measures"

(1) Comply with the provisions of Article 10 of the "Registration Management Measures"

After verifying the issuer's industrial and commercial files, the issuer's internal decision-making, auditing, evaluation and capital verification documents related to the issuer's restructuring and establishment, the issuer's articles of association, financial statements and audit reports during the reporting period were also verified. The issuer was registered and established on September 18, 2009, and was completely changed to Guangdong Zhongsu New Materials Co., Ltd. on July 13, 2022. The sponsor believes that the issuer is a joint-stock company established in accordance with the law and has been operating continuously for more than three years.

The issuer has established and improved the general meeting of shareholders, board of directors, board of supervisors/audit committee, independent

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Systems such as directors and board secretaries have been established so that relevant institutions and personnel can perform their duties in accordance with the law. The sponsor believes that the issuer already has a sound and well-functioning organizational structure, and relevant institutions and personnel can perform their duties in accordance with the law.

In summary, the sponsor believes that the company complies with the provisions of Article 10 of the "Registration Management Measures".

(2) Comply with the provisions of Article 11 of the "Registration Management Measures"

After verification of the issuer's accounting vouchers, accounting records and other information, combined with the standard unqualified "Audit Report" (Rongcheng Shenzi [2026] 518Z0466) issued by Rongcheng Accounting Firm (Special General Partnership). The sponsor believes that the issuer's basic accounting work is standardized, and the preparation and disclosure of financial statements comply with the provisions of the accounting standards for enterprises and relevant information disclosure rules, and fairly reflect the issuer's financial status, operating results and cash flow in all material aspects. The financial accounting reports for the past three years have been issued by certified public accountants with unqualified audit reports.

After verification of the issuer's internal control system and internal control execution records, combined with the "Internal Control Audit Report" (Rongcheng Shenzi [2026] 518Z0467) issued by Rongcheng Accounting Firm (Special General Partnership). The sponsor believes that the issuer's internal control system is sound and effectively implemented, which can reasonably guarantee the company's operating efficiency, legal compliance and reliability of financial reports, and a certified public accountant has issued an internal control audit report with unqualified conclusions.

In summary, the sponsor believes that the issuer complies with the provisions of Article 11 of the "Registration Management Measures". (3) Comply with the provisions of Article 12 of the "Registration Management Measures"

After checking the issuer's business operations, main buildings, machinery and equipment and other fixed assets, as well as land use rights, trademarks, patents and other intangible assets, on-site verification of relevant situations, verification of the actual controller and the basic situation of other companies controlled by it, review of the issuer's related party transaction agreement and other related party transaction related information, and obtain the "Commitment to Avoid Horizontal Competition" and "Commitment to Regulate and Reduce Related Party Transactions" issued by the issuer's controlling shareholder and actual controller, combined with the "Legal Opinion" and "Lawyer Work Report" issued by the issuer's lawyer. The sponsor believes that the issuer's assets are intact, its business, personnel, finance, and organization are independent. There is no horizontal competition that has a significant adverse impact on the issuer with its controlling shareholder, actual controller, and other companies controlled by it. There are no related transactions that seriously affect independence or are obviously unfair.

After verification, the composition of the issuer's main business income during the reporting period, major sales contracts and major customers, the issuer's business files and shareholder list, resolutions of shareholders (general meetings) and board of directors for the appointment of directors and senior managers, labor contracts and interview documents of core technical personnel, statements and commitments issued by the issuer's actual controller, combined with the "Legal Opinion" and "Lawyer Work Report" issued by the issuer's lawyer. The sponsor recognizes

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The issuer's main business, control rights and management team are stable, and there have been no major adverse changes in the issuer's main business and directors and senior managers in the past two years; the issuer's share ownership is clear, there are no major ownership disputes that may lead to changes in control, and the actual controller has not changed in the past two years.

After verifying the issuer's financial list, ownership certification documents for major assets, corporate credit reports, litigation and arbitration involving the issuer, industry research, analysis reports and other information, combined with interviews with the issuer's management, the "Audit Report" issued by Rongcheng Accounting Firm (Special General Partnership) and the "Lawyer Work Report" and "Legal Opinion" issued by the issuer's lawyer. The sponsor believes that the issuer does not have major ownership disputes involving major assets, core technologies, trademarks, etc., major debt repayment risks, major guarantees, litigation, arbitration and other contingencies, or major changes in the operating environment that have a major adverse impact on continued operations.

In summary, the sponsor believes that the issuer's business is complete and has the ability to operate independently and continuously directly facing the market, which complies with the provisions of Article 12 of the "Registration Management Measures".

(4) Comply with the provisions of Article 13 of the "Registration Management Measures"

After verifying the issuer's actual operating conditions, we reviewed the commitments and signed questionnaires, non-criminal certificates, questionnaires and other information issued by the issuer's controlling shareholders, actual controllers, directors, serving supervisors before the cancellation of the supervisory board, members of the audit committee and senior managers, as well as relevant certification documents obtained by the issuer from industrial and commercial, taxation and other agencies. We also checked the websites of China Securities Regulatory Commission, stock exchanges and other regulatory agencies and other public information, combined with the "Lawyer Work Report" and "Legal Opinion" issued by the issuer's lawyers. The sponsor believes that in the past three years, the issuer and its controlling shareholders and actual controllers have not committed any criminal offenses of corruption, bribery, misappropriation of property, misappropriation of property or undermining the order of the socialist market economy, nor have there been any fraudulent issuance, illegal disclosure of major information or other major illegal acts involving national security, public safety, ecological safety, production safety, public health and safety and other fields. The directors, supervisors and senior managers who were serving before the cancellation of the board of supervisors have not been subject to administrative penalties by the China Securities Regulatory Commission in the past three years, or are under investigation by judicial authorities for suspected crimes, or are under investigation by the China Securities Regulatory Commission for suspected violations of laws and regulations without clear conclusions. The issuer's production and operation comply with the provisions of laws and administrative regulations, comply with national industrial policies, and comply with the provisions of Article 13 of the "Registration Management Measures".

In summary, the sponsor believes that the issuer meets the issuance conditions for an initial public offering of stocks and listing on the GEM as stipulated in the "Registration Management Measures". Accordingly, the issuer complies with the requirements of Rule 2.1.1(1) of the Listing Rules.

(2) The total share capital after issuance shall not be less than RMB 30 million

The issuer's total share capital before this issuance was 36.9986 million shares, and the proposed public issuance will not exceed 1,233.29

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million shares (excluding the number of shares issued with the over-allotment option), and the total share capital after issuance shall not be less than RMB 30 million. Comply with the provisions of Article 2.1.1(2) of the Listing Rules.

(3) Meet the proportion requirements for public issuance of shares

The total share capital of the issuer before this issuance was 36.9986 million shares. The proposed public issuance does not exceed 12.3329 million shares (excluding the number of shares issued with the over-allotment option), accounting for 25% of the total share capital after the issuance. Comply with the provisions of Article 2.1.1(3) of the Listing Rules.

(4) Market value and financial indicators meet the prescribed standards

The issuer's listing application for this issuance shall be subject to the listing standards specified in Article 2.1.2 (1) of the Listing Rules: net profits in the past two years have been positive, cumulative net profits are not less than 100 million yuan, and net profits in the most recent year are not less than 60 million yuan.

According to the standard unqualified "Audit Report" (Rongcheng Shenzi [2026] No. 518Z0466) issued by Rongcheng Accounting Firm (Special General Partnership), the issuer's net profits in 2024 and 2025 (based on the lower of before and after deducting non-recurring gains and losses) are 92.5666 million yuan and 122.8537 million yuan respectively, which meet relevant standards.

The sponsor’s explanation on whether the issuer complies with the GEM positioning and national industrial policies

(1) The industry to which the issuer belongs conforms to the GEM positioning

The company's main business is the research and development, production and sales of modified engineering plastics. According to the "Guidelines for the Statistical Classification of Listed Companies Industry by the China Association of Public Companies" issued by the China Association of Public Companies, the company's business industry is "C29 Rubber and Plastic Products Industry/C292 Plastic Products Industry" under "C Manufacturing". According to the "National Economic Industry Classification" (GBT/4754-2017) issued by the National Bureau of Statistics, the company's business industry is "C292 Plastic Products Industry/C2929 Plastic Parts and Other Plastic Products Manufacturing" under the "C29 Rubber and Plastic Products Industry". The company's industry does not belong to the industries or prohibited categories that in principle do not support its application for issuance and listing on the GEM or prohibited categories as stipulated in Article 5 of the "Interim Regulations on the Application and Recommendation of Issuance and Listing of Enterprises on the GEM of the Shenzhen Stock Exchange (Revised in 2024)", and it complies with the requirements of the GEM industry field.

The company has focused on modified engineering plastic products since its establishment. According to the "Industrial Strategic Emerging Industries Classification Catalog (2023)" issued by the National Bureau of Statistics, the new materials industry is one of the strategic emerging industries currently focused on development in my country. The company's main products belong to "3.3.1 High-Performance Plastics and Resin Manufacturing" in "3.3 Advanced Petrochemical New Materials" among the "3 New Material Industries".

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(2) The issuer meets the relevant indicator requirements for GEM positioning

The company meets the requirements of relevant indicator 2 of Article 4 of the "Interim Regulations on the Application and Recommendation of Issuance and Listing of Enterprises on the Shenzhen Stock Exchange's Growth Enterprise Market (Revised in 2024)". The details are as follows:

GEM Positioning Related Indicators 2 Whether it meets the indicator status

The cumulative R&D investment in the last three years is not less than 50 million yuan. Yes

The amount is 71.6623 million yuan. The compound growth rate of operating income in the past three years is not less than 25%. Not applicable -

Note: According to Article 4 of the "Interim Regulations on the Application and Recommendation of Issuance and Listing of Enterprises on the Shenzhen Stock Exchange's Growth Enterprise Market (Revised in 2024)": For enterprises whose operating income in the most recent year has reached 300 million yuan, or for overseas-listed red-chip enterprises that have applied for the Growth Enterprise Market in accordance with the "Several Opinions on the Pilot Program for Domestic Issuance of Stocks or Depositary Receipts by Innovative Enterprises" and other relevant rules, the compound growth rate requirements for operating income stipulated in the preceding paragraph are not applicable. If the company's operating income in 2025 is 749.4757 million yuan, exceeding 300 million yuan, the compound growth rate requirement for operating income stipulated in the preceding paragraph does not apply.

(3) The issuer promotes the development of new productive forces through innovation, creation and creativity

The company’s business focuses on the field of modified engineering plastics with high performance requirements, and has built strong competitive advantages through continuous technological innovation, product innovation and process innovation.

The company's business focuses on the research and development, production and sales of modified engineering plastics. Compared with general plastics, modified engineering plastics are processed and improved through filling, blending, reinforcement and other methods. They can meet higher requirements in terms of mechanical properties, weather resistance, corrosion resistance, heat resistance, etc., and can achieve special functions such as flame retardancy, conductivity, and adjustable dielectric. In the course of more than ten years of development, the company has built a strong competitive advantage through continuous technological innovation, product innovation and process innovation.

At the technical level, the company has mastered the complete and systematic core technologies in the production process of modified engineering plastics, formed a number of its own core technologies represented by laser direct structuring technology (LDS), nano injection molding technology (NMT), and high temperature resistant flame retardant technology, and continuously enriched various core technology reserves. At the product level, the company has developed laser direct forming LDS materials, special engineering materials for nano-injection molding, ultra-high temperature resistant special nylon materials, flame retardant reinforced materials, low temperature resistant materials, low loss dielectric materials, chemical resistant materials, and special surface effect materials to meet the needs of high-strength, lightweight, low signal loss, flame retardant and explosion-proof, and color personalization in consumer electronics, energy storage, new energy and other fields to meet the needs of high-performance materials in different downstream fields. At the process level, the company has built a complete innovation system from basic processes to specialty processes. On the basis of basic processes such as blending, metering, extrusion, and granulation, it has achieved precise control of process parameters through independently developed customized equipment. It has overcome common industry problems such as substrate heat sensitivity, dispersion and compatibility of high-filler additives, and formed a characteristic process with unique advantages.

The company has outstanding scientific research and innovation capabilities, rich R&D qualifications and achievements

The company is a national-level specialized and new key "little giant" enterprise, a national-level high-tech enterprise, and a Guangdong Province enterprise.

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The single champion enterprise in the manufacturing industry, the Guangdong Provincial Doctoral Workstation, and the Guangdong Provincial Engineering Technology Research Center have participated in the national-level special scientific research project "the 'Twelfth Five-Year Plan' National Science and Technology Support Plan Project - Development and Industrialization of Key Technologies for the Preparation of High-Performance Polyamide Engineering Plastics", and independently took the lead in undertaking provincial and ministerial scientific research projects such as "Key scientific issues in the preparation process of semi-aromatic high-temperature resistant PA10T/11" and "R&D of PC base mold interior decoration materials and molding processes for large deep cavity parts". As of December 31, 2025, the company had 95 invention patents.

The application areas of the company's products continue to expand and are recognized by many well-known downstream customers.

The field of consumer electronics has rich application scenarios and products continue to be rapidly iteratively updated. The company's products are widely used in mobile phones, tablets, laptops and other products. With the rise of new products such as wearable devices, it provides customized modified engineering materials for TWS smart headsets, smart watches, smart bracelets, VR/AR terminals and other products. At the same time, with the development of new energy vehicles, energy storage, and smart home industries in recent years, the company has developed a series of lightweight, highly flame-retardant, and highly protective products, which are used in automotive interior and exterior decoration, car audio and video systems, new energy "three power" systems, outdoor energy storage, and sweeping robot equipment. Relying on its R&D technology and customer resource advantages accumulated over many years, the company closely tracks industry development trends, develops materials around the business needs of leading enterprises in the downstream field, and builds a diversified product matrix. Through cross-innovation of new materials and new business formats, the company continues to expand product application areas and help downstream industries transform into high-end, intelligent, and green.

To sum up, the company continues to increase investment in R&D and has formed rich scientific research results. Relying on technological innovation, product innovation and process innovation, it promotes the high-level application of scientific and technological achievements in the fields of consumer electronics, energy storage, automobiles, home appliances and other fields. It has been recognized by many well-known downstream customers and promoted the development of new quality productivity.

(4) Explanation that the issuer has growth potential

The company’s operating income and profit scale have grown rapidly

During the reporting period, the company’s main profit indicators are as follows:

Unit: 10,000 yuan

Project 2025 2024 2023 Operating income 74,947.57 69,995.26 53,677.89

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Item 2025 2024 2023 Gross profit margin 33.21% 30.63% 31.52% Operating gross profit 24,888.15 21,440.77 16,918.59 Net profit 12,626.43 10,002.07 7,899.78 Net profit attributable to owners of the parent company 12,686.04 10,006.08 7,924.10 Non-recurring deductions attributable to owners of the parent company

12,285.37 9,256.66 8,084.74Net profit after profit and loss

In each reporting period, the company's operating income was RMB 536.7789 million, RMB 699.9526 million and RMB 749.4757 million respectively. The net profit attributable to shareholders of the parent company before and after deducting non-recurring gains and losses (whichever was lower) was RMB 79.241 million, RMB 92.5666 million and RMB 122.8537 million respectively. The compound growth rates in the last three years were respectively 18.16% and 24.51%, operating income and net profit continued to grow.

The company continues to expand its income structure

In each period of the reporting period, the company's main business income was 528.0268 million yuan, 689.1969 million yuan, and 734.0557 million yuan respectively. The products mainly include high-performance engineering materials, special functional materials and other materials. The products are mainly used in the field of consumer electronics. In each period of the reporting period, the revenue from consumer electronics business accounted for 65.57%, 70.82% and 70.82% respectively. 66.90%. The company continues to expand the diversified product layout of downstream product categories, bringing sustained performance growth momentum.

Energy storage, new energy vehicles and other industries are the company's key development areas. In each reporting period, the revenue from modified engineering plastic products in the fields of energy storage and new energy vehicles gradually increased. The energy storage business sales revenue was 57.9158 million yuan, 86.7964 million yuan, and 85.7351 million yuan respectively. The automotive business sales revenue was 17.7257 million yuan, 50.5019 million yuan, and 75.2556 million yuan respectively. The scale effect gradually emerged. Relying on its years of technical experience and customer resource advantages in consumer electronics, the company has quickly entered business sectors such as energy storage and new energy vehicles to better grasp product and technology development trends, and has successfully expanded a number of well-known customers.

The company’s gross profit margin is relatively high

During each reporting period, the gross profit margin, revenue proportion and gross profit contribution of the company's main business income are as follows:

2025 2024 2023

Project

Main revenue Gross profit margin Main revenue Gross profit margin Main revenue Gross profit margin Gross profit margin Gross profit margin

occupancy ratio contribution rate occupancy ratio contribution rate occupancy ratio contribution rate high performance

Engineering materials 29.90% 75.42% 22.55% 27.21% 78.39% 21.33% 30.44% 85.68% 26.08% Material

Special power

47.39% 23.45% 11.11% 45.54% 21.22% 9.66% 41.11% 14.26% 5.86%Energy materials

Other materials 12.21% 1.13% 0.14% 9.66% 0.40% 0.04% 34.37% 0.06% 0.02%

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material

Total 33.80% 100.00% 33.80% 31.03% 100.00% 31.03% 31.97% 100.00% 31.97%

Note: Gross profit margin contribution rate = gross profit margin × revenue proportion.

In each period of the reporting period, the company's revenue and gross profit proportion of special functional materials with higher gross profit margins increased year by year.

increased, the revenue proportions were 14.26%, 21.22% and 23.45% respectively, and the gross profit margin contribution rates were 5.86%,

9.66%, 11.11%. Special functional materials can meet the requirements of downstream customers for laser molding processes, nano-injection

Special requirements in plastic processing and high temperature resistance have high technical barriers. In the future, with the development of high value-added

Special functional materials continue to increase in volume, and the company's profitability is expected to further improve.

9. Work arrangements during the period of continuous supervision of the issuer

matters arrangement

Guosen Securities will, in accordance with the sponsorship agreement signed with the issuer, participate in this issuance.

(1) Continuous supervision matters During the remainder of the year when the stock is listed and within the next 3 complete fiscal years

Provide ongoing supervision to issuers.

Supervise issuers to effectively implement and improve prevention. Strengthen issuers’ awareness of strict implementation of relevant regulations of the China Securities Regulatory Commission, understand the serious consequences of illegal occupation of issuance resources by major shareholders and other related parties and the occupation of issuer resources, and improve various management systems and decision-making mechanisms for issuing personnel resources.
Supervise issuers to effectively implement and improve prevention

Establish a supervision mechanism for senior executives and urge senior executives to sign contracts with issuers. Senior executives use their positions to harm the issuer.

Write commitment letters and improve the incentive and restraint system for senior executives.

internal control system of interests

Supervise issuers to effectively implement and improve guarantees

Try to reduce related transactions as much as possible. When related transactions reach a certain amount, they must go through the independent director’s fairness and compliance system.

express opinions on matters and obtain approval from the board of directors (or shareholders’ meeting).

and express opinions on related-party transactions

Supervise issuers to fulfill their information disclosure obligations

Establish timely communication channels for the issuer's major information and supervise the issuer's personnel responsible for other information disclosure submitted by the China Securities Regulatory Commission and the Shenzhen Stock Exchange to learn the relevant information disclosure requirements and regulations.

File

Establish an information communication channel with the issuer, and establish a special account for raising funds according to the

Continue to pay attention to the use of funds raised by the issuer

The management agreement implements regulatory measures, regularly tracks project progress, and implements investment projects and other commitments.

and supervision.

Strictly standardize issuer guarantees in accordance with the requirements of relevant documents of the China Securities Regulatory Commission

Continue to pay attention to the issuer’s provision of guarantees for others.

The decision-making process for actions requires the issuer to express its opinions on all guarantee actions and sponsors and other matters

Communicate beforehand.

(2) The sponsor's rights in the sponsorship agreement shall be actively exercised in accordance with the relevant provisions of the sponsorship system; other major agreements on the sponsor's continuous supervision responsibilities shall be strictly performed and smooth communication channels shall be established.

(3) The issuer and other intermediaries cooperate. Accounting firms and law firms continue to pay attention to the issuer, and conduct continuous training on relevant business in accordance with relevant agreements on the sponsor’s performance of sponsorship responsibilities.

(4) Other arrangements None

10. Contact address, telephone number and other communication methods of the sponsor

Sponsor (lead underwriter): Guosen Securities Co., Ltd.

Contact address: 33rd Floor, Guosen Financial Building, No. 125, Fuhua 1st Road, Shenzhen

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Postal code: 518000

Tel: 0755-82130833

Fax: 0755-82131766

There are no other matters that the sponsor believes should be explained.
The recommendation conclusion of the sponsor agency for this stock listing is based on full due diligence and prudent verification. The sponsor agency believes that the issuer’s initial public offering of stocks and listing on the GEM are in compliance with the provisions of the Company Law, Securities Law, Registration Management Measures, Listing Rules and other laws and regulations.

In view of the above, this sponsor recommends the issuer to apply for an initial public offering of stocks and be listed on the GEM. Please approve!

(No text below)

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(This page has no text, but is the signature and seal page of the "Listing Sponsorship Letter of Guosen Securities Co., Ltd. for the Initial Public Offering of Stocks and Listing on the Growth Enterprise Market of Guangdong Zhongsu New Materials Co., Ltd.")

Project co-organizer:

Liu Ying

Year Month Day Sponsor Representative:

Ma Xuzhou Su Yufan

Year Month Day Kernel person in charge:

Zeng Xin

Year, month, day Sponsor business person in charge:

Lu Wei

Year month day Legal representative:

Zhang Nasha

year month day

Guosen Securities Co., Ltd.

year month day

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