Yongtaiyun: letter of recommendation from Anxin Securities Co., Ltd. on the initial public offering and listing of the company

Anxin Securities Co., Ltd

About the IPO of yongtaiyun Chemical Logistics Co., Ltd

of

Issuance recommendation

Sponsor (lead underwriter)

(unit A02, 35 / F and 28 / F, Allianz building, 4018 Jintian Road, Futian District, Shenzhen)

Statement

Anxin Securities Co., Ltd. (hereinafter referred to as “Anxin securities” and “the sponsor”) has accepted the entrustment of yongtaiyun Chemical Logistics Co., Ltd. (hereinafter referred to as “the issuer”, “the company” and “yongtaiyun”) to act as the sponsor of its initial public offering of shares and issue the issuance recommendation letter for the issuer’s initial public offering of shares (hereinafter referred to as “the securities issuance”).

In accordance with 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”) and other relevant laws and regulations, as well as the relevant provisions of the China Securities Regulatory Commission (hereinafter referred to as the “CSRC”), the recommendation institution and its recommendation representative are honest, trustworthy, diligent and responsible, and in strict accordance with the business rules formulated according to law The issuance recommendation letter shall be issued in accordance with the industry practice code and code of ethics, and the authenticity, accuracy and integrity of the issued documents shall be guaranteed.

(unless otherwise specified in this offering recommendation letter, relevant terms have the same meaning as in the prospectus for initial public offering of yongtaiyun Chemical Logistics Co., Ltd.)

Section 1 basic information of this securities issuance

1、 Sponsor project team members

(I) the sponsor representative specifically responsible for recommendation this time

The recommended sponsor representatives of the securities issuance project authorized by Anxin securities are Mr. Zhang Yiwei and Mr. Yu Zhonghua. The practice of its recommendation business is as follows:

In recent three years, Mr. Zhang Yiwei has served as the sponsor representative of the initial public offering of Ncs Testing Technology Co.Ltd(300797) ( Ncs Testing Technology Co.Ltd(300797) ), Cspc Innovation Pharmaceutical Co.Ltd(300765) ( Cspc Innovation Pharmaceutical Co.Ltd(300765) ) and the sponsor representative of the public offering of convertible corporate bonds of Ningbo Zhongda Leader Intelligent Transmission Co.Ltd(002896) ( Ningbo Zhongda Leader Intelligent Transmission Co.Ltd(002896) ).

Mr. Yu Zhonghua has not served as the sponsor representative of the sponsor project in the past three years.

(II) Project Co sponsors and other project team members

The members of the project team of this securities issuance are Mr. Huang Jun, Mr. Wang Wencheng, Mr. Wu Huiyu and Mr. Chen Guoxian.

2、 Issuer information

Legal Chinese Name: yongtaiyun Chemical Logistics Co., Ltd

Date of establishment: September 19, 2019

Registered capital: 77894609 yuan

Paid in capital: 77894609 yuan

Legal representative: Chen Yongfu

Registered address: Room 301, building 1, No. 17, Haifa Road, Beilun District, Ningbo, Zhejiang

Postal Code: 315813

Tel.: 057427661599

Internet address http://shipchem.com./

E-mail [email protected].

Ordinary road transportation: Ordinary freight; Customs declaration service; Insurance agent; Undertake the international transportation agency business of import and export goods, international exhibits, personal goods and transit goods by sea and land, including: goods solicitation, consignment, space booking (including chartering, charter and space), warehousing, packaging, transit, preparation of documents related to business scope, delivery of freight, settlement and delivery of miscellaneous expenses, inspection and inspection Relevant short distance transportation services and transportation consulting business; Other international freight forwarding businesses that can be engaged in according to law; NVOCC business; Development of chemical technology; Development, technical consultation, technology transfer and technical services of logistics technology and computer technology; Advertising services; Computer network engineering design and construction. (for projects subject to approval according to law, business activities can be carried out only after approval by relevant departments).

This type of securities issuance is the initial public offering of RMB common shares (A shares)

3、 Relationship between the sponsor and the issuer

The recommendation institution and the issuer do not have the following circumstances:

(I) the shares of the issuer or its controlling shareholders, actual controllers and important related parties held by the sponsor or its controlling shareholders, actual controllers and important related parties;

(II) the shares held by the issuer or its controlling shareholders, actual controllers and important related parties;

(III) the sponsor representative and his spouse, directors, supervisors and senior managers of the recommendation institution have the rights and interests of the issuer and hold positions in the issuer;

(IV) mutual guarantee or financing provided by the controlling shareholder, actual controller and important related party of the recommendation institution and the controlling shareholder, actual controller and important related party of the issuer;

(V) other related relationships between the recommendation institution and the issuer;

(VI) other business transactions other than financial consulting, recommendation and underwriting.

4、 Internal audit procedures and core opinions of the recommendation institution

The internal audit procedures implemented by Anxin Securities for the issuer’s securities issuance project mainly include: the project team understands the situation on site and carries out due diligence, and issues the project application report on this basis; The project approval committee of stock recommendation and underwriting business shall hold a project approval meeting and vote on the project; The quality control department and the core department shall conduct on-site audit, and audit the application documents and recommendation working papers; The core department shall check the due diligence of the quality control department, the head of the recommendation business department and the project recommendation representative on important matters; The kernel Committee held a kernel meeting to put forward the kernel feedback, and the project team responded to the kernel feedback; The core members participating in the meeting checked the implementation of the feedback Reply of the project team, and voted on whether the issuer passed the core.

The core meeting for reviewing the issuance application was held at the headquarters of Anxin securities company, Allianz building, 4018 Jintian Road, Futian District, Shenzhen on May 28, 2021. A total of 9 core members participated in the meeting. The kernel committee members attending the meeting reviewed the integrity and compliance of the issuer’s application documents, listened to the explanation of the issuer’s representative and the project team on the problems found in the kernel, consulted the relevant supporting materials, and finally voted on whether the issuer passed the kernel in this issuance.

After voting by the core members attending the meeting, the project of yongtaiyun’s initial public offering and listing was approved by the sponsor.

Section 2 commitments of the recommendation institution

In accordance with laws, administrative regulations and the provisions of the CSRC, the recommendation institution has conducted due diligence and prudent verification on the issuer, its controlling shareholders and actual controllers, agreed to recommend the issuance and listing of the issuer’s securities, and issued this issuance recommendation letter accordingly.

The recommendation institution makes commitments on the following matters:

1. There are sufficient reasons to believe that the issuer complies with laws and regulations and the relevant provisions of the CSRC on securities issuance and listing;

2. There are sufficient reasons to believe that there are no false records, misleading statements or major omissions in the issuer’s application documents and information disclosure materials;

3. 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;

4. 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 institution;

5. Ensure that the designated recommendation representative and relevant personnel of the recommendation institution have been diligent and conscientious, and have conducted due diligence and prudent verification on the issuer’s application documents and information disclosure materials;

6. Ensure that the issuance recommendation letter and other documents related to the performance of recommendation duties do not contain false records, misleading statements or major omissions;

7. Ensure that the professional services provided and professional opinions issued to the issuer comply with laws, administrative regulations, the provisions of the CSRC and industry norms;

8. Voluntarily accept the regulatory measures taken by the CSRC in accordance with the measures for the administration of securities issuance and listing recommendation business;

9. Comply with other matters stipulated by the CSRC.

Section III recommendation on the issuance of securities

1、 Recommendation conclusion on this securities issuance

Following the principles of honesty, trustworthiness and diligence, the sponsor has conducted a comprehensive investigation on the issuer in accordance with the working standards for due diligence of sponsors, the measures for the administration of initial public offering and listing (hereinafter referred to as the “measures for the administration of initial public offering”); After fully understanding the operating conditions of the issuer and the risks and problems it faces, it has sufficient reasons to believe that the issuer complies with the company law, the securities law, the measures for the administration of initial public offering and other relevant laws and regulations, as well as the issuance conditions stipulated by the CSRC. It is convinced that the application documents of the issuer are true, accurate and complete, and agrees to recommend it as a sponsor for its initial public offering in China.

2、 The issuer has fulfilled the decision-making procedures stipulated by the company law, the securities law and the CSRC

(I) approval of the issuer for this offering and listing

On May 12, 2021, the issuer held the 11th meeting of the first board of directors, The proposal on yongtaiyun Chemical Logistics Co., Ltd. meeting the conditions for initial public offering of RMB common shares (A shares) and listing, the proposal on yongtaiyun Chemical Logistics Co., Ltd. applying for initial public offering of RMB common shares (A shares) and listing, and the proposal on yongtaiyun Chemical Logistics Co., Ltd. initial public offering of RMB common shares (A shares) were reviewed and approved Proposals related to this offering and listing, such as the proposal on the investment projects and feasibility analysis of the raised funds through the listing of shares, the proposal on Authorizing the board of directors to handle the matters related to the initial public offering of RMB common shares (A shares) and listing of Yongtai Chemical Logistics Co., Ltd., the proposal on convening the first extraordinary general meeting of shareholders in 2021 of Yongtai Chemical Logistics Co., Ltd, It is agreed to submit relevant proposals to the issuer’s first extraordinary general meeting in 2021 for deliberation.

On May 28, 2021, the issuer held the first extraordinary general meeting of shareholders in 2021. The number of shareholders’ representative shares attending the meeting was 77894609, accounting for 100% of the total shares of the issuer. The shareholders’ meeting deliberated and passed the proposals related to the issuance and listing submitted by the board of directors one by one.

(II) authorization of the issuer for this issuance and listing

The first extraordinary general meeting of the issuer in 2021 deliberated and approved the proposal on Authorizing the board of directors to handle the matters related to the initial public offering of RMB common shares (A shares) and listing of yongtaiyun Chemical Logistics Co., Ltd., and agreed to authorize the board of directors to handle the matters related to the initial public offering and listing of the company. According to the notice, resolution, meeting minutes and other relevant documents of the board of directors and the general meeting of shareholders provided by the issuer, after verification, the sponsor believes that the convening, convening, voting procedures and resolution contents of the above meeting comply with the relevant provisions of the company law, the securities law and the articles of association, and the resolution procedures and contents are legal and effective.

3、 This securities issuance meets the issuance conditions stipulated in the securities law

(I) the company has established the general meeting of shareholders, the board of directors and the board of supervisors in accordance with the provisions of the company law and other laws and regulations, elected independent directors, elected employee supervisors, appointed the general manager, deputy general manager, chief financial officer and Secretary of the board of directors, set up the audit committee, nomination committee, salary and assessment committee and Strategy Committee, and established a standardized corporate governance structure and perfect internal management system, It has a sound and well functioning organization, which complies with the provisions of paragraph 1 (I) of Article 12 of the securities law.

(II) according to the unqualified audit report (TJs [2022] No. 368) issued by Tianjian Certified Public Accountants (special general partnership) (hereinafter referred to as “Tianjian office”), the issuer continued to make profits in 2019, 2020 and 2021. The company is in good financial condition and has the ability of continuous operation, which meets the provisions of paragraph 1 (II) of Article 12 of the securities law.

(III) the company’s financial and accounting reports for the last three years have been issued with unqualified audit reports (TJs [2022] No. 368), which comply with the provisions of paragraph 1 (III) of Article 12 of the securities law.

(IV) the company and its controlling shareholders and actual controllers have not committed any criminal crime of embezzlement, bribery, misappropriation of property, misappropriation of property or undermining the order of the socialist market economy in the past three years, which is in line with the provisions of paragraph 1 (IV) of Article 12 of the securities law.

In accordance with the requirements of Article 12 of the Securities Law on applying for the issuance of new shares, Anxin securities checked the situation of the issuer item by item and confirmed that the issuer has a sound and well functioning organization; Have the ability of continuous operation and good financial condition; The financial and accounting reports of the last three years have been issued with unqualified audit reports; The issuer and its controlling shareholders and actual controllers have not committed any criminal crime of embezzlement, bribery, misappropriation of property, misappropriation of property or undermining the order of the socialist market economy in the past three years; Meet the issuance conditions stipulated in the securities law.

4、 The securities issuance meets the issuance conditions stipulated in the measures for the administration of initial public offering

In accordance with the measures for the administration of initial public offering, the sponsor has checked whether the issuer meets the conditions for initial public offering item by item. The verification results are as follows:

(I) after verification, the issuer complies with the provisions on subject qualification in the measures for the administration of initial public offering

1. The issuer is a joint stock limited company established according to law and continuously operated for more than three years. The sponsor reviewed the industrial and commercial files of the issuer and confirmed that the issuer was a joint stock limited company established by Yongtai Co., Ltd. on September 19, 2019 according to the overall change of its audited book net asset value into shares. Yongtai Co., Ltd. was established in

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