Orient Securities Co., Ltd

About Shanghai Hehui Optoelectronics Co., Ltd

Initial public offering of shares and listing on the STAR Market

Ongoing supervision of the sponsorship summary report

According to the China Securities Regulatory Commission's "Concerning the Consent to Shanghai He

Approval of the registration of the initial public offering of shares of Hui Optoelectronics Co., Ltd. (Zheng Jian Xu Xu [2021] No. 1124), the company was approved to issue RMB ordinary shares (A shares) to the public. The final number of shares issued in the company's initial public offering was 3,083,660,725 shares (including the over-allotment option), the issue price was 2.65 yuan per share, and the net amount of funds raised was 8,002,135,743.48 yuan after deducting the issuance expenses. The above amount has been divided

Received in full on May 24, 2021 and June 28, 2021. Lixin Certified Public Accountants (special

General Partnership) verified the availability of funds for the company's public offering of new shares, and in May 2021

On June 25 and June 29, 2021, the "Capital Verification Report of Shanghai Hehui Optoelectronics Co., Ltd." was issued respectively

Notice (Xinhuishi Bao Zi [2021] No. ZA14446) and "Shanghai Hehui Optoelectronics Co., Ltd. Capital Verification Report" (Xinhuishi Bao Zi [2021] No. ZA15067).

In accordance with the Administrative Measures for the Sponsorship Business of Securities Issuance and Listing, the Rules for the Listing of Stocks on the Science and Technology Innovation Board of the Shanghai Stock Exchange, and the Self-Regulatory Guidelines for Listed Companies on the Shanghai Stock Exchange No. 11 - Continuous Supervision, Orient Securities Co., Ltd. (hereinafter referred to as "Orient Securities" or the "Sponsor") is the sponsor of Shanghai Hehui Optoelectronics Co., Ltd. (hereinafter referred to as "Hehui Optoelectronics" or the "Company") for the initial public offering and listing of shares and continuous supervision. Responsible for Hehui Optoelectronics after listing

Continuous supervision, from 28 May 2021 to 31 December 2024. presently

The period of continuous supervision has expired, and Orient Securities issues this summary report of continuous supervision and sponsorship in accordance with relevant regulations.

1. Commitment of the sponsor institution and the sponsor representative

(1) The content of the sponsor summary report, supporting documents and related materials does not contain false records, misleading statements or material omissions, and the sponsor institution and the sponsor representative shall bear legal responsibility for their authenticity, accuracy and completeness.

(2) The sponsor institution and I voluntarily accept any inquiries and investigations conducted by the China Securities Regulatory Commission on matters related to the sponsor summary report.

(3) The sponsor institution and I voluntarily accept the regulatory measures taken by the China Securities Regulatory Commission in accordance with the relevant provisions of the Administrative Measures for the Sponsorship Business of Securities Issuance and Listing.

2. Basic information of the sponsor institution

Sponsor: Orient Securities Co., Ltd

Registered address: Orient Securities Building, No. 119 Zhongshan South Road, Huangpu District, Shanghai

Main office location: Orient Securities Building, No. 119 Zhongshan South Road, Huangpu District, Shanghai

Legal representative: Gong Dexiong

The sponsor representatives of this project are Li Peng and Yu Li

Contact number 021-63325888

Third, the basic situation of listed companies

Name of issuer: Shanghai Hehui Optoelectronics Co., Ltd

Stock Code 688538.SH

The registered capital is 1,383,2003,883 yuan

Registered address: No. 1568, Jiugong Road, Jinshan Industrial Zone, Shanghai

The main office is No. 1568, Jiugong Road, Jinshan Industrial Zone, Shanghai

Legal representative: Fu Wenbiao

The actual controller is the Shanghai Municipal State-owned Assets Supervision and Administration Commission

Contact: Li Fengling, Chen Jiadong

Contact number 021-60892866

Contact email ir@everdisplay.com

Type of securities issuance: Initial public offering of shares

The securities were listed on May 28, 2021

The securities are listed on the Shanghai Stock Exchange

4. Overview of sponsorship work

Orient Securities, as the sponsor of Hehui Optoelectronics' initial public offering and listing on the Science and Technology Innovation Board, designated two sponsor representatives, Li Peng and Bian Jiazhen, to be responsible for the sponsorship work in accordance with relevant regulations. As of the date of issuance of this report, the sponsor representatives responsible for continuous supervision have changed twice due to job changes, and the two sponsor representatives, Li Peng and Yu Li, are currently responsible for the sponsorship work.

In accordance with relevant laws and regulations and the provisions of the China Securities Regulatory Commission and the Shanghai Stock Exchange, the sponsor institution and the sponsor representative shall perform due diligence recommendation and continuous supervision obligations to Hehui Optoelectronics, and the statutory continuous supervision period will end in 2024

Until 31 December. The sponsor's continuous supervision period has expired, but in view of the fact that the funds raised by Hehui Optoelectronics have not been used, the sponsor's continuous supervision period has been extended to the end of the use of the raised funds.

The main tasks of the sponsor during the period of continuous supervision are as follows:

(1) According to the continuous supervision system, the sponsor has formulated a corresponding work plan for the continuous supervision of Hehui Optoelectronics;

(2) In accordance with the relevant regulations of the China Securities Regulatory Commission, the sponsor signed the "Sponsorship Agreement" with Hehui Optoelectronics before the start of continuous supervision, clarifying the rights and obligations of both parties during the continuous supervision period, and reporting to the Shanghai Stock Exchange for the record;

(3) The sponsor institution understands the business situation of Hehui Optoelectronics through daily communication, regular or irregular return visits, on-site inspections, etc., and carries out continuous supervision of Hehui Optoelectronics;

(4) The sponsor supervises and supervises Hehui Optoelectronics and its directors, supervisors and senior management personnel to comply with laws, regulations, departmental rules, business rules and other normative documents issued by the Shanghai Stock Exchange, and earnestly fulfill the commitments made by them;

(5) The sponsor urges Hehui Optoelectronics to improve the corporate governance system in accordance with relevant regulations, and strictly implements the corporate governance system;

(6) The sponsor has verified the design, implementation and effectiveness of the internal control system of Hehui Optoelectronics, and the internal control system of Hehui Optoelectronics meets the requirements of relevant laws and regulations and has been effectively implemented, which can ensure the standardized operation of the company;

(7) The sponsor supervises and urges Hehui Optoelectronics to strictly implement the information disclosure system, and reviews the information disclosure documents of listed companies and other documents submitted to the China Securities Regulatory Commission and the Shanghai Stock Exchange;

(8) The sponsor institution continues to pay attention to the situation that the listed company or its controlling shareholder, actual controller, director, supervisor or senior management is subject to administrative punishment by the China Securities Regulatory Commission, disciplinary punishment by the Shanghai Stock Exchange, or regulatory concern letter issued by the Shanghai Stock Exchange. During the period of continuous supervision, Hehui Optoelectronics and its controlling shareholders, actual controllers, directors, supervisors and senior management did not have such matters;

(9) The sponsor institution continues to pay attention to the performance of the commitments of the listed company and its controlling shareholders and actual controllers, and during the period of continuous supervision, Hehui Optoelectronics and its controlling shareholders and actual controllers do not fail to fulfill their commitments;

(10) The sponsor institution continues to pay attention to the reports of listed companies in the public media, and promptly verifies market rumors. After verification, it is found that the listed company has material matters that should be disclosed but not disclosed, or related to the disclosure

If the information is inconsistent with the facts, promptly urge the listed company to truthfully disclose or clarify; If the listed company does not disclose or clarify, it shall report to the Shanghai Stock Exchange in a timely manner. During the period of continuous supervision, there was no situation that should be reported to the Shanghai Stock Exchange in a timely manner;

(11) The sponsor has formulated an on-site inspection work plan for Hehui Optoelectronics, clarified the requirements for on-site inspection, and ensured the quality of on-site inspection.

5. Major matters that occur during the performance of sponsorship duties and their handling

(1) Postponement of fundraising and investment projects

1. The first extension

On October 27, 2023, the third meeting of the second session of the board of directors and the third meeting of the second session of the board of supervisors were held

At the meeting, the "Proposal on the Extension of the Fund-raising Project" was deliberated and approved, and it was agreed that the company's investment project "Sixth-generation AMOLED Production Line Capacity Expansion Project" raised funds from the initial public offering of shares will be adjusted to December 2024.

The sponsor has issued a special verification opinion on the above matters.

2. Second postponement

On October 29, 2024, the 9th meeting of the 2nd Board of Directors and the 8th meeting of the 2nd Board of Supervisors of the Company

At the meeting, the "Proposal on the Extension of the Fund-raising Project" was deliberated and approved, and it was agreed that the company's initial public offering of shares to raise funds to raise funds for the investment project "Sixth-generation AMOLED production line capacity expansion project" to reach the scheduled usable state to December 2025.

The sponsor has issued a special verification opinion on the above matters.

(2) Continue to supervise the change of sponsor representatives

1. The first change

In October 2023, due to the change of the position of the original sponsor representative, Mr. Bian Jiazhen, the sponsor agency was appointed

Mr. Zhu Jialei, the sponsor representative, succeeded Mr. Bian Jiazhen and continued to perform his duties of continuous supervision.

2. The second change

In February 2025, due to the change of the position of Mr. Zhu Jialei, the original sponsor representative, the sponsor agency appointed the guarantee

The representative is recommended, Mr. Yu Li, to take over the work of Mr. Zhu Jialei and continue to perform the duties of continuous supervision.

6. Explanation and evaluation of the listed company's cooperation with the sponsorship

During the period of continuous supervision, the company actively cooperated with the sponsor to carry out continuous supervision, and the cooperation in supervision work was good.

7. Explanation and evaluation of the work related to the participation of securities service institutions in the issuance and listing of securities

The securities service institutions hired by Hehui Optoelectronics can issue relevant documents in a timely manner in accordance with the requirements of relevant laws, regulations and normative documents.

8. Concluding opinions on the review of information disclosure of listed companies

During the period of continuous supervision, the information disclosure work of Hehui Optoelectronics complies with the provisions of relevant laws and regulations such as the Administrative Measures for Information Disclosure of Listed Companies, and ensures that the information disclosure is true, accurate, complete and timely, and there are no false records, misleading statements or major omissions.

9. Concluding opinions on the review of the use of funds raised by listed companies

The deposit and actual use of the raised funds of Hehui Optoelectronics complies with the provisions of relevant laws, regulations and normative documents such as the Regulatory Guidelines for Listed Companies No. 2 - Regulatory Requirements for the Management and Use of Raised Funds by Listed Companies, the Administrative Measures for the Sponsorship Business of Securities Issuance and Listing, the Self-Regulatory Guidelines for Listed Companies on the Science and Technology Innovation Board of the Shanghai Stock Exchange No. 1 - Standardized Operation, the Listing Rules for Stocks on the Science and Technology Innovation Board of the Shanghai Stock Exchange, and the Self-Regulatory Guidelines for Listed Companies on the Shanghai Stock Exchange No. 11 - Continuous Supervision. The raised funds have been stored in a special account and used for special purposes, and the relevant information disclosure obligations have been fulfilled in a timely manner, and there is no disguised change in the use of the raised funds and damage to the interests of shareholders, nor is there any violation of relevant laws and regulations in the use of raised funds.

10. Other matters required by the China Securities Regulatory Commission and the Shanghai Stock Exchange

As of December 31, 2024, the funds raised from Hehui's initial public offering have not been used

After completion, the sponsor will continue to fulfill its obligation to continuously supervise the management and use of the funds raised by Hehui Optoelectronics' initial public offering and listing on the Science and Technology Innovation Board until the funds raised are fully used.

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