China Securities Co., Ltd., AVIC Securities Co., Ltd

About AVIC (Chengdu) Unmanned Aircraft Systems Co., Ltd

Verification opinions on the use of part of the over-raised funds to permanently replenish liquidity

China Securities Co., Ltd. (hereinafter referred to as "China Securities Securities") and AVIC Securities Co., Ltd. (hereinafter referred to as "AVIC Securities", China Securities and AVIC Securities are collectively referred to as the "Joint Sponsors") are the joint sponsors of the initial public offering of shares of AVIC (Chengdu) Unmanned Aerial System Co., Ltd. (hereinafter referred to as "China UAV", "the Company") and listed on the Science and Technology Innovation Board, in accordance with the Administrative Measures for the Sponsorship Business of Securities Issuance and Listing and Article 2 of the Guidelines for the Supervision of Listed Companies The relevant provisions of the relevant provisions of laws and regulations such as the Regulatory Requirements for the Management and Use of Funds Raised by Listed Companies, 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 Science and Technology Innovation Board of the Shanghai Stock Exchange No. 1 - Standardized Operation, etc., have prudently verified the use of part of the over-raised funds to permanently replenish liquidity, the details are as follows:

First, the basic situation of the funds raised

Approved by the China Securities Regulatory Commission (CSRC) on the approval of the registration of the initial public offering of shares of AVIC (Chengdu) UAV Systems Co., Ltd. (Zheng Jian Xu Xu [2022] No. 825), and with the consent of the Shanghai Stock Exchange, the company publicly issued 135 million shares (A shares) to the public at an issue price of 32.35 yuan per share, raising a total of 436,725.00 yuan, deducting underwriting and sponsorship fees related to the issuance

The net proceeds after expenses amounted to $419,705.72 million, all of which were raised on June 21, 2022

Place. The above-mentioned raised funds have been verified by Lixin Certified Public Accountants (Special General Partnership), and the "Capital Verification Report" (Xinhuishi Bao Zi [2022] No. [ZD10132]) has been issued by it.

After the raised funds arrived, all of them have been deposited in the special account for raised funds approved by the board of directors of the company, and the company has signed the "Tripartite Supervision Agreement on Raised Funds" with the sponsor institution and the commercial bank that deposited the raised funds.

2. The investment project of the raised funds

According to the company's disclosure of the "Prospectus for the Initial Public Offering of Shares and Listing on the Science and Technology Innovation Board", and the actual funds raised, the total amount of funds raised will be invested in the following projects after deducting the issuance costs:

Unit: 10,000 yuan

Serial No. Project Name Project Investment Amount The amount of funds to be raised

1 UAV system development and industrialization projects 148,199.00 97,125.00

2 Technical research and R&D capacity improvement project 61,514.00 46,875.00

3 Replenishment of liquidity 20,000.00 20,000.00

Total 229,713.00 164,000.00

3. The plan to use part of the over-raised funds to permanently replenish liquidity

In order to meet the company's liquidity needs, improve the efficiency of the use of raised funds, and further enhance the company's operating ability, in accordance with the relevant provisions of the "Regulatory Guidelines for Listed Companies No. 2 - Regulatory Requirements for the Management and Use of Raised Funds by Listed Companies", "Self-Regulatory Guidelines for Listed Companies on the Science and Technology Innovation Board of the Shanghai Stock Exchange No. 1 - Standardized Operation" and the relevant provisions of the company's "Management System for Raised Funds", the company intends to use part of the over-raised funds to permanently supplement the working capital for the company's production and operation. The total amount of over-raised funds of the company is 255,705.72 million yuan, and the amount to be used to permanently replenish liquidity is 50,000.00 yuan, accounting for 19.55% of the total over-raised funds. In the past 12 months, the company has used the over-raised funds to permanently replenish the working capital without exceeding 30% of the total over-raised funds, which has not violated the relevant regulations of the China Securities Regulatory Commission and the Shanghai Stock Exchange on the use of funds raised by listed companies.

5. Relevant explanations and commitments

Part of the over-raised funds will be used for production and operation related to the company's main business, without affecting the normal implementation of the investment projects of the raised funds, aiming to meet the needs of the company's working capital, improve the efficiency of the use of raised funds, further enhance the company's operating capabilities, safeguard the interests of listed companies and shareholders, and comply with the relevant provisions of laws and regulations.

The company promises that the cumulative amount of permanent replenishment of liquidity with over-raised funds within 12 months will not exceed 30% of the total over-raised funds; The use of over-raised funds to permanently replenish liquidity will not affect the capital needs for the implementation of fund-raising projects, and high-risk investments will not be made within 12 months after the permanent replenishment of liquidity, and financial assistance will not be provided to objects other than holding subsidiaries.

6. Relevant review procedures

(1) Deliberations of the Board of Directors

On April 15, 2025, the company held the 27th meeting of the fifth board of directors and deliberated and approved

50,000.00 yuan will be used to permanently replenish liquidity.

The matter still needs to be submitted to the company's general meeting of shareholders for deliberation and approval before it can be implemented.

(2) The deliberations and opinions of the board of supervisors

On April 15, 2025, the fifteenth meeting of the fifth board of supervisors held by the company deliberated and approved the "Guan

The Board of Supervisors believes that the Company's use of part of the over-raised funds to permanently replenish liquidity is in accordance with the provisions of relevant laws, regulations and normative documents such as the Self-Regulatory Guidelines for Listed Companies on the Science and Technology Innovation Board of the Shanghai Stock Exchange No. 1 - Standardized Operation, and the Regulatory Guidelines for Listed Companies No. 2 - Regulatory Requirements for the Management and Use of Raised Funds by Listed Companies. The company will use part of the over-raised funds to permanently replenish liquidity, and there is no change in the use of raised funds and damage to the interests of shareholders, which is conducive to improving the efficiency of the use of raised funds, reducing the company's financial costs, and further enhancing the company's profitability, which is in line with the interests of the company and all shareholders. The Board of Supervisors agreed to the company's use of part of the over-raised funds to permanently replenish liquidity.

7. Verification opinions of the joint sponsor institution

After verification, the joint sponsor believes that the use of part of the over-raised funds to permanently supplement the liquidity of the UAV has been deliberated and approved by the board of directors and the board of supervisors, and the board of supervisors has issued a clear agreement, and the deliberation and decision-making procedures meet the requirements of relevant laws, regulations and rules and regulations, and the matter still needs to be submitted to the company's general meeting of shareholders for deliberation.

This matter is conducive to improving the efficiency of the use of raised funds, will not affect the normal progress of the investment projects of the raised funds, does not change the investment direction of the raised funds, is in line with the interests of the company and all shareholders, and conforms to the relevant requirements of 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 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 Science and Technology Innovation Board of the Shanghai Stock Exchange No. 1 - Standardized Operation.

In summary, the joint sponsor has no objection to the company's use of part of the over-raised funds to permanently replenish liquidity.

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(There is no text on this page, it is the signature and seal page of the "Verification Opinions of China Securities Co., Ltd. and AVIC Securities Co., Ltd. on the Use of Part of the Over-raised Funds by AVIC (Chengdu) Unmanned Aircraft Systems Co., Ltd. to Permanently Replenish Liquidity")

Sponsor Representative:

Liu Jiaqi Liu Xianfeng

China Securities Co., Ltd

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(There is no text on this page, it is the signature and seal page of the "Verification Opinions of China Securities Co., Ltd. and AVIC Securities Co., Ltd. on AVIC (Chengdu) Unmanned Aircraft System Co., Ltd. Using Part of the Over-raised Funds to Permanently Replenish Liquidity")

Sponsor Representative:

Sun Jie, Shen Xiqiang

AVIC Securities Limited

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