一、公司概况

I. Company Profile

深圳市众恒隆实业有限公司（以下简称“众恒隆”或“公司”）自1997年成立以来，以其稳健的步伐和卓越的表现，成为了贵金属加工行业的佼佼者。主营业务是生产和回收提纯黄金、白银、铂金、钯金等各种贵重金属以及销售黄金、银等贵金属饰品工艺品，并以其精炼产品的高品质和精湛工艺而闻名。

ShenzhenZhonghenglong Industrial Co., Ltd.( hereinafter as the “Company”) has been aprominent player in the precious metal processing industry since its inceptionin 1997. Its main business includes production, recycling and purification ofgold, silver, platinum, palladium and other precious metals, as well asmarketing of precious metal jewelry and crafts. Zhonghenglong is renowned forthe high quality of its products and superb craftsmanship.

众恒隆公司以先进的技术和完善的管理制度为基础，凭借稳定的生产流程和“工序即是客户”的理念，严格执行每一道工序的可控性和产品的质量要求。借助先进的监控系统，运行全封闭的生产工艺流程，以确保产品质量的稳定和客户的满意。多年的努力使该公司先后通过了ISO14001和ISO9001质量管理体系认证，其分析检测结果的准确度和可信度也得到了业内的普遍认可，国家首饰质量监督检验中心与众恒隆公司成立了联合实验室。

Based onadvanced technology and a well-established management system, Zhonghenglongcombines its stable production process with its philosophy of “Treat Process asCustomer” and strictly executes the controllability of each process and qualityof each product. With the auxiliary of advanced monitoring systems, the companyoperates a fully enclosed production process to ensure the stable quality ofproducts and satisfaction from customers. For years, the company hassuccessively acquired the certification of ISO14001 and ISO9001 qualitymanagement system. In addition, the accuracy and reliability of the test andanalysis results are widely recognized by the industry. The National JewelryQuality Supervision and Inspection Center has established a joint laboratorywith Zhonghenglong.

同时，为了科学环保地解决含贵金属工业废料的利用问题，众恒隆公司从欧洲引进了具有国际先进水平的回收提纯化验检测设备与技术，严格按照国家规定的环保达标标准进行处理。工业废水经过处理后进行循环再用，以实现废水零排放的目标。经过检测，其废水、废气和噪声都达到了达标排放的标准。为了实现环保与双碳目标，公司已于2023年4月按照国际公认的PAS 2060-碳中和承诺新标准，推出“零碳金条”。

Meanwhile, inorder to address the treatment of industrial waste containing precious metalsin a scientifically sustainable manner, Zhonghenglong introduced advancedrecovery and purification equipment and technologies from Europe for industrialwaste treatment, strictly following the national regulations in environmentalprotection. The wastewater after being treated is then circulated for reuse toachieve the goal of zero wastewater discharge. All wastewater, waste gas andnoise generated have met discharge standards. As a further step towardsenvironmental protection and achieving carbon neutrality goals, Zhonghenglonghas introduced “zero-carbon gold bars” in accordance with the internationallyrecognized Publicly Available Specification 2060(PAS 2060) carbon-neutral commitmentstandard since April 2023.

众恒隆公司是上海黄金交易所综合类会员并连续多年荣获综合类优秀会员称号，以及上海黄金交易所标准金锭、标准金条、标准银锭提供企业。此外，众恒隆公司在国内各大行业协会中担任重要职务，如中国黄金协会常务理事、中国珠宝玉石首饰行业协会常务理事、广东省黄金协会副会长、深圳市黄金珠宝首饰行业协会副会长等。

Zhonghenglong holdsthe Comprehensive Member of the Shanghai Gold Exchange(Shanghai Gold Exchange,SGE) and has been recognized as an Outstanding Comprehensive Member forconsecutive years. It is an accredited supplier of standard gold ingots,standard gold bars and standard silver ingots to the Shanghai Gold Exchange. Additionally,Zhonghenglong holds leadership positions in major domestic industryassociations, such as the Executive Director of China Gold Association, the ExecutiveDirector of the Gems and Jewelry Trade Association of China, Vice President ofthe Guangdong Gold Association, and Vice President of the Shenzhen Gold andJewelry Association.

公司已申请伦敦金银市场协会（LBMA）黄金、白银合格交割合格交割认证，并持续按照LBMA负责任黄金指南第9版、负责任白银指南第2版及OECD指南要求开展供应链尽职调查和年度合规披露。

The Company hasapplied for London Bullion Market Association(LBMA) Good Delivery accreditationfor both gold and silver and continues to conduct supply chain due diligenceand annual compliance disclosures in accordance with the LBMA Responsible GoldGuidance(Version 9), the LBMA Responsible Silver Guidance(Version 2) and theOECD Due Diligence Guidance.

二、供应商情况概述

II. Overview of Suppliers

在2025年度，公司采购的黄金原料主要是中国大陆和中国香港的含金首饰与金锭，白银原料主要是中国大陆的含银首饰及银锭，总涉及200多家供应商(主要为贸易商和珠宝商)。报告期内，公司对供应商开展客户识别、KYC资料收集、背景核查、风险评级和持续监控。截至报告期末，未识别出与供应链相关联的零容忍风险和高风险。

During 2025,the Company’s gold raw materials mainly comprised gold-containing jewelry andgold bars sourced from Mainland China and Hong Kong, China, while silver rawmaterials mainly comprised silver-containing jewelry and silver ingots fromMainland China, involving more than 200 suppliers, principally traders andjewelers. During the reporting period, the Company conducted customeridentification, KYC collection, background checks, risk rating and ongoingmonitoring of suppliers. As of the end of the reporting period, nozero-tolerance risks or high risks associated with the supply chain wereidentified.

三、合规情况概述

III. Overview of Compliance Status

第一步 建立强大的公司管理体系

Step 1: Establish strong companymanagement systems

合规声明：

Statement ofCompliance:

我公司已经充分遵守第1步骤：建立强大的管理体系。

We have fully complied with Step 1:Establish strong management systems.

1、已制定黄金/白银负责任供应链尽职调查政策

1. A responsible supply chain duediligence policy for gold/silver has been established.

众恒隆根据《LBMA负责任黄金指南第9版》和《LBMA负责任白银指南第2版》的要求，已正式发布了《黄金/白银负责任供应链尽职调查政策》和《供应链尽职调查管理体系》。该政策符合《经济合作与发展组织关于来自受冲突影响和高风险区域矿石的负责任供应链尽职调查指南》(第三版)中的规定，并扩展至环境和可持续性责任。

Zhonghenglonghas officially released the "Gold/Silver Responsible Supply Chain DueDiligence Policy" and "Supply Chain Due Diligence Management System"in accordance with the requirements of the "LBMA Responsible GoldGuidelines 9th Edition" and the "LBMA Responsible Silver Guidelines2nd Edition". This policy aligns with the provisions outlined in the"OECD Guidelines for Responsible Supply Chain Due Diligence for Mineralsfrom Conflict-Affected and High-Risk Areas" (3rd edition) and extends toenvironmental and sustainability responsibilities.

政策要求公司及其供应商严格遵守国家关于职工权利、环境保护、公平交易等各项法律法规，积极参与供应链尽职调查工作，确保矿产金/银、再生金/银来源符合要求，并作出承诺，拒绝来自侵犯人权、冲突地区、贿赂、洗钱、恐怖主义融资、非法开采、世界遗产遗址、采用汞开采等高风险地区的黄金、白银。

The policyrequires the company and its suppliers to strictly comply with national lawsand regulations regarding employee rights, environmental protection, fairtrade, etc., actively participate in supply chain due diligence, ensure thatthe sources of mineral gold/silver and recycled gold/silver meet therequirements, and make a commitment to reject gold and silver from high-riskareas such as regions where human rights are violated, conflict zones, bribery,money laundering, terrorist financing, illegal mining, world heritage sites,and areas where mercury mining is employed.

众恒隆每年定期审查政策并按照要求进行更新，将政策在公司官网进行公布:https://www.zhlsy.com/zygg/info_17_itemid_99.html，公司通过官网、洽谈、合同附件、培训等方式，已充分将该政策传达给所有的黄金白银的交易方以及内部的各个职能部门，相关传达记录均已保留并存档。

Zhonghenglong conductsregular policy reviews annually and updates them as required. The policies arepublished on the company's official website at https://www.zhlsy.com/zygg/info_17_itemid_99.html. The company has fully communicated the policy to all goldand silver trading parties as well as various internal functional departments throughvarious means such as the official website, negotiations, contract attachments,and training. Relevant communication records have been retained and archived.

2025年度，公司依据OECD指南、LBMA负责任黄金指南第9版及负责任白银指南第2版，对现有供应链尽职调查政策、供应商准入流程、KYC问卷、承诺书及风险评估表进行了年度复核。经复核，现行政策框架与公司业务模式及LBMA负责任采购要求相匹配；如后续LBMA、OECD或监管机构发布新的要求，公司将及时组织修订并留存复核记录。

In 2025, theCompany reviewed its existing supply chain due diligence policy, supplieronboarding process, KYC questionnaire, undertakings and risk assessment formsin accordance with the OECD Guidance, the LBMA Responsible Gold GuidanceVersion 9 and the LBMA Responsible Silver Guidance Version 2. The reviewconfirmed that the current policy framework is aligned with the Company’sbusiness model and the LBMA responsible sourcing requirements. If newrequirements are issued by the LBMA, OECD or regulators, the Company willorganize timely updates and retain review records.

2、已建立内部管理体系以支持供应链尽职调查

2. An internal management system hasbeen established to support supply chain due diligence

众恒隆按照《供应链尽职调查管理体系》建立内部管理制度，包含《供应链风险管理流程》、《风险减缓管理办法》、《反洗钱反恐怖融资规章制度》《申诉机制》、《禁止使用强迫劳动的管理程序》等制度，设立尽职调查组织架构、明确职责和权限、供应链评估标准、调查处理程序、交易监控、文件保存、培训以及内部审查和管理评审制度，确保供应链尽职调查工作全面落地。

Zhonghenglonghas established an internal management system in accordance with the "SupplyChain Due Diligence Management System", encompassing various systems suchas the "Supply Chain Risk Management Process", "Risk MitigationManagement Measures", "Anti-Money Laundering and Anti-TerroristFinancing Regulations", "Grievance Mechanism", and "ManagementProcedures for Prohibiting the Use of Forced Labor". It has also set up adue diligence organizational structure, clarified responsibilities andauthorities, supply chain evaluation standards, investigation and handlingprocedures, transaction monitoring, document preservation, training, as well asinternal review and management review systems, to ensure the comprehensiveimplementation of supply chain due diligence work.

尽职调查组织架构由合规总监、合规风控官以及各部门的合规专员组成。合规风控官协助总监全面负责供应链尽职调查事务，健全完善供应链尽职调查管理体系，监督调查流程，协调处理调查中的异常情况。根据LBMA负责任黄金/白银指南文件，对相关员工进行培训。合规总监负责制定年度培训计划，2025年组织各相关部门人员进行了《LBMA 合格交割合规要求培训》、《贵金属可追溯体系与现场检查合规》、《LBMA负责任采购原则培训》以及《反洗钱培训》的培训共4次，使相关责任人明白自己在尽职调查政策实施中的义务与职责，充分保证了尽职调查程序的运行和实施。

Theorganizational structure for due diligence comprises the Compliance Director,the Compliance Risk Officer, and compliance officers from various departments.The Compliance Risk Officer assists the Director in overseeing supply chain duediligence matters, refining and enhancing the supply chain due diligence managementsystem, supervising the investigation process, and coordinating the handling ofanomalies encountered during the investigation. In accordance with the LBMA'sResponsible Gold/Silver Guidance, relevant employees are trained. TheCompliance Director is responsible for formulating annual training plans. In2025, the compliance director has organized various relevant departments toparticipate in four training sessions on " LBMA good delivery compliancerequirements training ," "precious metals traceability system andon-site inspection training " "LBMA responsible sourcing guidancetraining" and "anti-money laundering training" enabling relevantresponsible individuals to understand their obligations and duties inimplementing due diligence policies, thereby fully ensuring the operation andimplementation of the due diligence process.

2025年度，公司继续维持由合规总监、合规风控官及各部门合规专员组成的尽职调查管理架构。合规总监负责年度计划、风险评估结果审批及重大事项决策；合规风控官负责日常尽调、风险识别、资料复核、异常事项升级及报告；各部门合规专员按照岗位分工分别负责供应商沟通、物料收发、检测记录、财务付款、人事劳工及档案保存等环节的执行。

In 2025, the Companycontinued to maintain a due diligence management structure composed of theCompliance Director, the Compliance Risk Officer and compliance officers fromrelevant departments. The Compliance Director is responsible for annualplanning, approval of risk assessment results and decision-making on majormatters; the Compliance Risk Officer is responsible for day-to-day duediligence, risk identification, document review, escalation and reporting ofabnormalities; and departmental compliance officers carry out suppliercommunication, material receipt and dispatch, testing records, financialpayments, human resources/labor matters and record retention according to theirfunctions.

合规专员由交割部、业务部、财务部、收发部、提纯质检中心、人事部指派，负责严格执行供应链尽职调查措施，零容忍和高风险供应链评判标准，收集并保存足够的供应链证明文件。业务部负责向供应商宣传《供应链尽职调查政策》、《关于遵守禁止强迫劳动政策的声明》，并将《承诺函》、《KYC》等相关资料连同合同传达给供应商，与供应商书面确认遵守公司相关的规定，负责对供应商进行扩大到环境和可持续性责任的尽职调查，完成供应商风险评估和定期重复评价，提交合规风控官和总监审批。收发、质检合规专员负责往来重量的记录、物料的标识和贮存，以及化验结果的保存。财务部负责往来账户的管理，确保交易过程通过合规渠道进行账务往来，禁止现金交易。

The compliancespecialist is appointed by the Delivery Department, Business Department,Finance Department, Receiving and Dispatching Department, Purification QualityInspection Center, and Human Resources Department. They are responsible forstrictly implementing supply chain due diligence measures, adhering tozero-tolerance and high-risk supply chain evaluation standards, and collectingand preserving sufficient supply chain documentation. The Business Departmentis responsible for promoting the "Supply Chain Due Diligence Policy"and "Declaration on Compliance with the Forced Labor ProhibitionPolicy" to suppliers, communicating relevant documents such as the"Commitment Letter", "KYC", along with contracts tosuppliers, confirming in writing the compliance with company regulations, conductingdue diligence on suppliers' environmental and sustainability responsibilities,completing supplier risk assessments and regular re-evaluations, and submittingthem for approval by the Compliance Risk Officer and Director. The Receivingand Dispatching, Quality Inspection Compliance Specialist is responsible forrecording the weight of transactions, identifying and storing materials, andpreserving laboratory test results. The Finance Department is responsible formanaging the current accounts, ensuring that transactions are conducted throughcompliant channels, and prohibiting cash transactions.

人事部发布了关于禁止强迫劳动的政策声明以及公示申诉渠道让利益相关方报告有关强迫劳动的申诉，并于公司官网公示：https://www.zhlsy.com/zygg/info_17_itemid_101.html

The HumanResources Department has issued a policy statement prohibiting forced labor andhas publicized complaint channels for stakeholders to report complaints relatedto forced labor. The statement has been posted on the company's officialwebsite: https://www.zhlsy.com/zygg/info_17_itemid_101.html

对外，公司制定了《关于遵守禁止强迫劳动政策的声明》要求所有供应商遵守，确保我们采购的原料不涉及到任何的强迫劳工。

Externally, thecompany has formulated a "Declaration on Compliance with the PolicyProhibiting Forced Labor" and requires all suppliers to comply with it,ensuring that the raw materials we procure do not involve any forced labor.

2025年度由人力资源主管组织了内部审查，众恒隆与每名入职员工均签订了劳动合同，按时支付薪资，公司的工会委员会代表员工维护合法权益，协调劳资关系。2026年度，公司继续执行禁止强迫劳动相关制度，由人事部门组织内部审查，确认公司与员工签订劳动合同、按时支付薪资，并通过工会委员会维护员工合法权益、协调劳资关系。2025年度公司未发现任何强迫劳动行为，也未发现供应商有强迫劳动的行为。

In 2025, the HRsupervisor organized an internal review. Zhonghenglong signed labor contractswith each newly hired employee, paid salaries on time, and the company's laborunion committee represented employees to safeguard their legitimate rights andinterests and coordinate labor-management relations. In 2026, the companycontinued to enforce policies against forced labour, with the HR departmentconducting internal reviews to ensure contracts were signed and salaries paidon time, while the union committee maintained employees' legal rights andcoordinated labour relations. No forced labour was found in 2025, no forcedlabour was found in suppliers.

公司获得了 ISO 14001 的证书，并制定了环境管理手册和计划来管理公司生产和运营中的环境风险，特别是对空，水和土地污染的管理。公司获得了当地环保局发放的《环境影响报告的批复》。公司建立了危险化学品的管理流程来对化学品的存储、操作和处理进行管理。公司的运营和采购不涉及任何的破换世界遗产保护、影响土著人民等。

The company hasobtained the ISO14001 certificate and formulated an environmentalmanagement manual and plan to manage environmental risks in its production andoperations, particularly focusing on the management of air, water, and landpollution. The company has obtained the "Approval of EnvironmentalImpact Report" issued by the local environmental protection bureau.The company has established a hazardous chemical management process to overseethe storage, handling, and disposal of chemicals. The company's operations andprocurement do not involve any activities that would damage the protection ofworld heritage or affect indigenous peoples.

另外，公司制定了对合规人员的问责机制，要求相关专员定期向高级管理人员汇报供应链尽职调查情况。通过监督与检查，确保了供应链尽职调查工作得到有效的实施，规避高风险供应链的交易。

In addition,the company has established an accountability mechanism for compliancepersonnel, requiring relevant specialists to regularly report on the supplychain due diligence to senior management. Through supervision and inspection,the effective implementation of supply chain due diligence is ensured, andtransactions involving high-risk supply chains are avoided.

2025年度，公司进一步将供应链尽职调查执行情况纳入部门日常检查与合规人员履职评价范围。对于未按要求收集KYC资料、未及时报告异常交易、未完整保存原始单据或未按流程提交审批的情形，公司将根据内部制度要求进行提醒、整改、复核及问责，确保供应链尽职调查制度真正落实到业务流程中。

In 2025, theCompany further incorporated the implementation of supply chain due diligenceinto routine departmental checks and performance evaluation of compliancepersonnel. Where KYC documents are not collected as required, abnormaltransactions are not reported in a timely manner, original documents are notcompletely retained, or approvals are not submitted according to procedure, theCompany will issue reminders, require rectification, conduct follow-up reviewand implement accountability measures in accordance with internal rules,thereby ensuring that the supply chain due diligence system is embedded inbusiness processes.

2025年度结束后，众恒隆合规风控官已组织年度管理评审，并将2025年度供应链尽职调查体系运行情况、风险识别结果、培训情况、申诉运行情况及改进建议汇报给合规总监。

After the endof 2025, Zhonghenglong has the Compliance Risk Officer organized the annualmanagement review and report to the Compliance Director on the operation of the2025 supply chain due diligence system, risk identification results, training,grievance mechanism operation and improvement suggestions.

3、已建立了强有力的供应链可追溯体系

3. A strong supply chain traceabilitysystem has been established

3.1供应链可追溯体系

3.1 Supply chain traceability system

在业务开展中，通过收集尽职调查问卷(KYC)并审查供应商资质、营业执照、身份验证资料、业务运营、股东信息和物料来源等，供应商资信调查通过后签订合同以及承诺书，承诺原料合法，符合LBMA负责任黄金/白银采购政策；公司系统化收集、存储并维护所有产品的供应链信息并为每批来料和每批出库的产品分配唯一编码，确保供应链数据的全面性、可验证性及合规性，为企业持续完善负责任采购实践、强化风险管控能力以及提升国际合规水平提供坚实支撑。供应商每一批移交我公司的原料均有交易台账记录，包括供应商名称、移交日期、移交重量、成色、上游供应商溯源信息、货物运输路线信息等，并经物料接洽人员签字确认。黄金、白银原料需经过熔炼后取样检测和分析，最终精炼为标准金/银锭或受托加工客户需求的金/银锭。每一批加工完成的成品金/银料根据来源不同，截止 2025年，经过受托加工完成的黄金/白银均通知客户自提或交付运输；回购收回的黄金/白银均被加工成标准金/银锭通过上海黄金交易所进行销售，标准金/银锭均分配唯一编号。

In the processof business development, through collecting KYC (Know Your Customer)questionnaires and reviewing supplier qualifications, business licenses,identity verification documents, business operations, shareholder information,and material sources, suppliers are subject to credit investigation. Afterpassing the investigation, contracts and letters of commitment are signed,promising that the raw materials are legal and comply with the LBMA'sresponsible gold/silver procurement policy. The Company systematicallycollects, stores, and maintains supply chain information for all products, andassigns unique codes to each batch of incoming and outgoing products, ensuringthe comprehensiveness, verifiability, and compliance of supply chain data. Thisprovides solid support for the company to continuously improve responsibleprocurement practices, strengthen risk management and control capabilities, andenhance international compliance levels. Each batch of raw materialstransferred to The Company by suppliers is recorded in a transaction ledger,including supplier name, transfer date, transfer weight, purity, upstreamsupplier traceability information, and cargo transportation route information,which is signed and confirmed by the material liaison personnel. Gold/silverraw materials are subject to sampling, testing, and analysis after smelting,and are ultimately refined into standard gold ingots or processed into goldingots according to customer requirements upon entrustment. Each batch offinished gold/silver products, depending on their source, has been processedand completed. As of 2025, all gold/silver processed upon entrustment has beennotified to customers for self-pickup or delivery for transportation; allgold/silver repurchased has been processed into standard gold/silver ingots andsold through the Shanghai Gold Exchange, with each standard gold/silver ingotassigned a unique number.

公司对所有交易情况进行监督，确保交易与供应链调查一致。使用线上管理系统以及电子台账记录黄金、白银来料，确保物料可追溯。对于所有的原料入库均保留完整的单据资料，对于入库的金/银料保存有入库单、检验单、财务凭证等。明确各个部门应在日常工作中收集保存的资料，由业务部、检测中心、财务部对相关单据进行保存，并定期将相关资料送至档案室进行存档，保存期限均高于5年。我司于2025年度并没有收到违规物料，所有贵金属物料来源均合规合法。

The Companysupervises all transactional activities to ensure consistency with supply chaininvestigations. It utilizes an online management system and electronic ledgersto record gold and silver incoming materials, ensuring material traceability.Complete documentation is maintained for all raw material inventory entries,including receipts, inspection forms, financial vouchers, etc. for gold/silvermaterials. Each department is clarified on the information they should collectand retain in their daily work. The Business Department, Testing Center, andFinance Department are responsible for preserving relevant documents andregularly submitting them to the archives for filing. The retention period isover 5 years. The Company did not receive any non-compliant materials in 2025,and all precious metal materials are compliant and legal.

2025年度，公司在原有线上管理系统和电子台账基础上，进一步强化物料留痕管理。对每批入库金/银料，均保留称重记录、照片或视频资料、入库单、检测单、财务凭证、银行回单、合同及供应商KYC资料，确保货物流、信息流、资金流能够相互印证。

In 2025, basedon the existing online management system and electronic ledgers, the Companyfurther strengthened material evidence retention. For each batch of incominggold/silver materials, the Company retained weighing records, photos or videomaterials, inventory receipts, inspection forms, financial vouchers, bankreceipts, contracts and supplier KYC documents to ensure that the flow ofgoods, information and funds can corroborate each other.

3.2通过官方银行渠道收付款

3.2 Receive and make payments through official bankingchannels

公司所有业务均通过官方银行渠道收付款，没有任何现金交易。全部由业务部门发起资金事项联签程序，通过公司基本户所在的银行网上付款，并打印银行回单作为凭证附件保留。财务合规专员负责交易监控工作，对不符或以任何形式疑似不符的交易背景进行检查，并报告合规总监。2025年度未发现不符及任何形式不符的情况。公司所有黄金、白银相关业务均通过官方银行渠道收付款，不涉及现金交易。财务合规专员对付款申请、审批记录、银行回单、水单、发票及合同进行匹配核查，报告期内未发现交易背景不符或疑似不符的情况。

All businesstransactions of the Company are conducted through official banking channels,with no cash transactions involved. All fund transactions are initiated by thebusiness department and undergo a joint signing process. Payments are madeonline through the bank where the company's primary account is located, andbank receipts are printed and retained as voucher attachments. The financialcompliance specialist is responsible for transaction monitoring, inspecting anydiscrepancies or transactions suspected of being discrepant in any form, andreporting to the compliance director. In 2025, no discrepancies or any form ofdiscrepancies were found. All gold and silver related transactions of theCompany were received and paid through official banking channels, with no cashtransactions involved. The financial compliance officer matched and reviewedpayment applications, approval records, bank receipts, remittance records,invoices and contracts. During the reporting period, no discrepancy orsuspected discrepancy in transaction background was identified.

近年来，我司根据上海黄金交易所及中国人民银行的要求，建立了反洗钱等审查制度。在2025年度，我司没有发生并上报可疑交易。

In recentyears, the Company has established anti-money laundering and other reviewsystems in accordance with the requirements of the Shanghai Gold Exchange andthe People's Bank of China. In 2025, the Company did not experience or reportany suspicious transactions.

4、强化合作，协助黄金/白银供应交易方建立尽职调查能力

4. Strengthen cooperation and assistgold/silver supply trading parties in building due diligence capabilities

2025年，公司继续通过线上培训、经验分享、邮件提示、合同附件传达等方式向供应商传达供应链尽职调查政策和合规要求。

In 2025, theCompany continued to communicate supply chain due diligence policies andcompliance requirements to suppliers through online training, experiencesharing, email reminders and contract attachments.

公司2025年度签约的所有供应商均签署了相关《承诺书》，承诺黄金、白银来源合法合规，拒绝零容忍和高风险, 严格遵守合同和法律的规定，EITI相关原则以及反洗钱反恐怖融资、反强制劳动等。公司2025年度合作及签约供应商均应签署相关《承诺书》《KYC问卷》，承诺黄金、白银来源合法合规，拒绝零容忍和高风险，遵守EITI相关原则以及反洗钱、反恐怖主义融资、反强迫劳动等要求。

All supplierscooperating with or contracted by the Company in 2025 should sign the relevantLetter of Commitment, KYC Questionnaire, undertaking that the sources of goldand silver are legal and compliant, rejecting zero-tolerance and high-riskissues, and complying with EITI principles, anti-money laundering,counter-terrorist financing and anti-forced labor requirements.

2025年度，合规总监继续定期组织会议，各部门合规专员参加，就当期供应链相关信息进行内部报告。对于尽调资料不完整、经营情况发生变化或存在异常信号的供应商，公司将开展二次尽调；必要时由业务部及合规人员进行供应商辅导或专项培训，提高供应商对其上下游的尽职调查能力。

In 2025, theCompliance Director continued to organize regular meetings, with departmentalcompliance officers participating to report supply chain-related informationfor the relevant period. For suppliers with incomplete due diligence documents,changes in business conditions or abnormal signals, the Company will conductsecondary due diligence; where necessary, the Business Department andcompliance personnel will provide supplier guidance or special training toimprove suppliers’ due diligence capabilities regarding their upstream anddownstream parties.

5、建立沟通申诉机制，促进相关方和员工的参与。

5. Establish a communication andgrievance mechanism to promote the participation of relevant parties andemployees

众恒隆设立了申诉工作处理小组，成员由合规总监、合规风控官、合规专员组成，工作组负责对申诉的处理。

Zhonghenglonghas established a complaint handling team, consisting of the ComplianceDirector, Compliance Risk Control Officer, and Compliance Specialist. This teamis responsible for handling complaints.

众恒隆将申诉渠道在官网公示：

Zhonghenglongwill publicize the complaint channel on its official website:

https://www.zhlsy.com/zygg/info_17_itemid_100.html ，允许员工和外部利益相关者表达对供应链或任何新的识别风险的担忧。

https://www.zhlsy.com/zygg/info_17_itemid_100.html, allowing employees and externalstakeholders to express their concerns regarding supply chain or any newlyidentified risks.

公司已建立了完善的申诉机制并严格执行，在整个申诉过程中保护员工隐私，对举报人信息保密，杜绝任何行为的打击报复。

The Company has established a comprehensive grievancemechanism and strictly implemented it, protecting employee privacy throughoutthe grievance process, keeping the information of the reporter confidential,and eliminating any retaliation against any behavior.

申诉处理小组在收到申诉后5个工作日内完成接收确认和初步判断，并根据申诉内容确认受理或驳回。对于受理的申诉，原则上应在15个工作日内组织调查、审查并提出处理意见；处理完成后5个工作日内，以适当方式向申诉方反馈调查结果、处理办法及纠正措施。所有申诉的接收、调查、处理、反馈和归档均应完整记录，并严格保护申诉人隐私。

The grievancehandling team shall confirm receipt and conduct a preliminary review within 5working days after receiving a grievance, and decide whether to accept orreject it based on its content. For accepted grievances, the team should inprinciple organize investigation and review and propose handling opinionswithin 15 working days; within 5 working days after completion, theinvestigation results, handling measures and corrective actions shall be fedback to the complainant in an appropriate manner. The receipt, investigation,handling, feedback and archiving of all grievances shall be completely recorded,and the privacy of the complainant shall be strictly protected.

(1)咨询专家；

(2)请求申诉方或其他人提供更多信息。

(3)申诉决定以书面形式传达给申诉方，申诉决定应包含：

a.      申诉决定

b.     申诉决定是如何以及何时做出的

c.      任何新的建议

(1) Consult experts;

(2) Request the appealing party or other individuals toprovide additional information.

(3) The appeal decision shall be communicated to theappealing party in writing, and the appeal decision shall include:

a.      Appeal decision

b.     How and whenwas the appeal decision made

c.      Any newsuggestions

截至2025年底，申诉小组未收到内部员工、供应商或其他外部利益相关方提交的与黄金/白银供应链尽职调查相关的风险申诉信息。公司将持续维护该机制的可及性、保密性和反报复要求。

As of the endof 2025, the grievance team had not received any risk-related grievanceinformation concerning gold/silver supply chain due diligence from internalemployees, suppliers or other external stakeholders. The Company will continueto maintain the accessibility, confidentiality and anti-retaliationrequirements of this mechanism.

第二步 供应链风险的识别与评估

Step 2: Identify and assess risk in thesupply chain

合规声明：

Statement ofCompliance:

我公司已经充分遵守第2步骤：对供应链中的风险进行识别和评估。

We have fullycomplied with Step 2: Identify and assess risk in the supply chain.

1、已制定识别供应链风险的程序

1. Procedures for identifying supply chain risks have beenestablished

根据《经济合作与发展组织关于来自受冲突影响和高风险区域矿石的负责任供应链尽职调查指南》，黄金/白银冶炼公司应识别相关风险包括密切关注来自侵犯人权、武装冲突、非法开采、开采利用汞以及源于世界遗产遗址等地区的黄金和白银，以及用于贿赂、洗钱、恐怖主义融资等行为的黄金/白银。公司为每个供应商建立供应商档案，根据风险状况进行了调查，在与其签合同之前完成供应商档案的建立工作。

According tothe "OECD Due Diligence Guidance for Responsible Supply Chains of Mineralsfrom Conflict-Affected and High-Risk Areas", gold/silver smeltingcompanies should identify relevant risks, including closely monitoring gold andsilver sourced from areas affected by human rights violations, armed conflicts,illegal mining, mining with mercury, and world heritage sites, as well asgold/silver used for bribery, money laundering, terrorist financing, and otheractivities. The company establishes supplier profiles for each supplier,conducts investigations based on risk status, and completes the establishmentof supplier profiles before signing contracts with them.

公司制定了受冲突影响和高风险区域(CAHRA)定义流程与判定标准，并对识别出来的风险规定了处理程序，充分对供应链中的风险进行识别、评估和缓解。

The company hasestablished a process and criteria for defining Conflict-Affected and High-RiskAreas (CAHRA), and has outlined procedures for handling identified risks,ensuring thorough identification, assessment, and mitigation of risks withinthe supply chain.

2025年度，公司主要从国内供应商采购当地金银回收料，目前不存在海外来料。根据受冲突影响和高风险区域的识别程序判定，未识别出零容忍和高风险。

In 2025, the companyprimarily sourced local gold and silver recycling materials from domesticsuppliers. Based on the identification process for conflict-affected andhigh-risk areas, no zero-tolerance or high-risk issues were identified.

2、评估供应链风险

2. Evaluatesupply chain risks

公司设立风险评估小组，由业务部、收发部、财务部、提纯检测中心、质检中心经验丰富、能力出众的员工代表组成，对各部门涉及的供应链风险进行识别和评估。

The company hasestablished a risk assessment team, consisting of representatives from theBusiness Department, Receiving and Dispatching Department, Finance Department,Purification Testing Center, and Quality Inspection Center, who are experiencedand capable employees. The team is responsible for identifying and assessingsupply chain risks involved in various departments.

2.1供应链调查

2.1 Supply ChainInvestigation

公司通过以下措施对供应链进行尽职调查，并完成了尽职调查问卷：

The companyconducted due diligence on the supply chain through the following measures andcompleted the due diligence questionnaire:

(1)资质验证。要求合作方提供相应的资质证明文件，营业执照，身份证明文件，矿山供应商还需要提供采矿许可证、环评认证以及关注矿工佩戴劳保、健康安全交易、职业病体检等。

(1)Qualification verification. Partners are required to provide correspondingqualification documents, business licenses, and identity documents. Minesuppliers also need to provide mining licenses, environmental impact assessmentcertifications, and ensure that miners wear labor protection gear, conducthealth and safety transactions, and undergo occupational disease physicalexaminations.

(2)建立供应商档案。对供应商基本情况、股东信息、提供原料类型及产地、计划精炼贵金属类型、结算方式等信息进行详细调查，并尽可能的将供应链调查向供应商的上游延伸，最终确定其风险等级。

(2) Establishsupplier profiles. Conduct detailed investigations on suppliers' basicinformation, shareholder information, types and origins of raw materialsprovided, types of precious metals planned to be refined, settlement methods,and other relevant information. Extend the supply chain investigation upstreamto suppliers as much as possible and ultimately determine their risk levels.

(3)建立来料登记簿。对供应商当批次来料的日期、重量、原料来源、主要上游供应商进行调查登记，判断其来料风险等级。

(3) Establishan incoming material registration book. Investigate and register the date,weight, raw material source, and main upstream suppliers of the current batchof incoming materials from suppliers and assess their risk level.

(4)建立供应商年度调研报告工作流程。对除银行之外的全年黄金、白银来料量前三名进行专项尽职调查，形成供应商年度调查报告，内容包括：供应商概况、资质信息、来料类型及所占比重、上游供应商概况及名单、原料产地及品种、是否存在国外黄金、白银等。我司于2025年度所发生的交易均符合规定。

(4) Establish aworkflow for annual supplier research reports. Conduct special due diligencewith the top three suppliers of gold and silver materials (excluding banks)throughout the year and form an annual supplier survey report. The reportshould include: supplier profile, qualification information, types of materialssupplied and their proportions, profile and list of upstream suppliers, originand variety of raw materials, and whether there is foreign gold, silver, etc.All transactions conducted by the Company in 2025 were in compliance withregulations.

(5)对产品的去向进行尽职调查。针对黄金、白银销售业务，对一次性购买黄金重量超过30公斤或累计购买超过100公斤的客户，一次性购买白银重量超过2000公斤或累计购买超过5000公斤的客户，进行产品去向尽职调查工作。

(5) Conduct duediligence on the whereabouts of products. For gold and silver sales business,conduct due diligence on the whereabouts of products for customers who purchasemore than 30 kilograms of gold in one go or accumulate purchases exceeding 100kilograms, and for customers who purchase more than 2,000 kilograms of silverin one go or accumulate purchases exceeding 5,000 kilograms.

(6)充分发挥网络作用，利用天眼查、中国审判信息网等网站对供应商资质情况、失信情况、诉讼情况、处罚情况进行查询，对涉及高风险行为的供应商拒绝合作。

(6) Fullyleverage the role of the internet. We make full use of websites such asTianyancha and China Judgment Online to conduct inquiries into suppliers'qualifications, credit status, litigation history, and administrative penaltyrecords, and refuse cooperation with suppliers involved in high-risk behaviors.

2025年度，公司在供应商核验中可结合国家企业信用信息公示系统、天眼查、企查查、中国裁判文书网/中国审判流程信息公开网、信用中国、供应商官方网站及其公开披露的ESG报告、社会责任报告、可持续发展报告或负责任采购声明等资料，对供应商资质、诉讼处罚、失信信息、受益所有人、反洗钱、反恐怖主义融资、腐败、强迫劳动及ESG相关风险进行检索核验。

In 2025,supplier verification may include the National Enterprise Credit InformationPublicity System, Tianyancha, Qichacha, China Judgments Online/China Trial ProcessInformation Online, Credit China, suppliers’ official websites and publiclydisclosed ESG reports, social responsibility reports, sustainability reports orresponsible sourcing statements. The Company uses these sources to verifysupplier qualifications, litigation and penalties, dishonesty records,beneficial ownership, anti-money laundering, counter-terrorist financing,corruption, forced labor and ESG-related risks.

2.2 CAHRA的判定

2.2 Judgment ofCAHRA

公司制定了受冲突影响和高风险区域（CAHRAs）的定义流程。公司采用以下资源和标准加以判定：

The Companydeveloped definition processes for Conflict-Affected and High-RiskAreas(CAHRAs). The following resources and criteria are applied to determineCAHRA by the Company:

(1) 脆弱国家指数

(1) FragileStates Index

(2)全球冲突晴雨表

(2) GlobalConflict Barometer

(3) 联合国人类发展指数(UN HumanDevelopment Indicator)

(3) UN HumanDevelopment Indicator

(4) 多德-弗兰克法案第 1502条列“指明国家)

(4) “DesignatedCountries” listed in the Section 1502 of the Dodd-Frank Act

(5)欧盟根据 2017/821条例提供的CAHRA清单

(5) CAHRA Listprovided by the European Union under Regulation 2017/821

(6) 联合国人权事务高级专员办事处或同等机构

(6) The Officeof the High Commissioner for Human Rights (UN Human Rights) or equivalentinstitutions

(7) 金融行动特别工作组 (FATF) 的报告(包括相关国家/地区报告)

(7) FinancialAction Task Force Financial Action Task Force(FATF) Reports (including reportsabout relevant countries/regions)

(8) 关于高风险黄金中心/转运中心和高洗钱风险国家/地区的可靠市场情报

(8) Reliable market intelligence on high-risk goldcenters/transit centers and countries/regions with high risks of money laundering

(9) 制裁名单(英国、美国、欧盟、联合国及相关制裁清单)

(9) Sanctions lists (US, UK, EU, UN, and relevantsanctions lists)

公司至少每年对上述CAHRA识别工具进行更新复核；如制裁名单、FATF报告、欧盟CAHRA清单或其他权威来源发生重大变化，公司将及时重新评估供应链位置风险。因公司2025年度原料目前均为国内回收料，公司未识别出涉及EITI执行国家/地区的海外矿产来源。

The Company reviews and updatesthe above CAHRA identification tools at least annually. If there are materialchanges to sanctions lists, FATF reports, the EU CAHRA list or otherauthoritative sources, the Company will promptly reassess supply chain locationrisks. As the Company’s 2025 raw materials are currently all domestic recycledmaterials, no overseas mineral source involving EITI implementingcountries/regions was identified.

2.3 零容忍和高风险供应链

2.3 Zero-toleranceand High-risk Supply Chains

我司根据LBMA的负责任黄金指南和白银指南制定了风险分级，分别为零容忍风险分级与高风险的风险分级。根据LBMA和经济合作与发展组织(OECD)相关规定，结合公司实际情况，特规定如下零容忍和高风险供应链评判标准：

the Company hasestablished risk classifications based on the LBMA's Responsible GoldGuidelines and Silver Guidelines, which are respectively the zero-tolerancerisk classification and the high-risk risk classification. Based on therelevant regulations of LBMA & Organisation for Economic Co-operation andDevelopment(OECD) and combined with the actual situation of the Company, thefollowing criteria for judging zero-tolerance and high-risk supply chains arespecially stipulated:

2.3.1 零容忍风险：

2.3.1Zero-tolerance risks:

(1) 矿山金/银来自被指定为世界遗产地的地区。

(1) Minedgold/silver comes from areas designated as World Heritage Sites.

(2) 违反国际制裁(包括但不吸纳与联合国、欧盟、英国和美国制裁)的方式采购矿山金/银、再生金/银。

(2) Purchasingmined gold/silver and recycled gold/silver in a manner that violatesinternational sanctions (including but not inclusive of sanctions imposed bythe United Nations, the European Union, the United Kingdom, and the UnitedStates).

(3) 矿山金/银、再生金/银的供应对手方、其他已知的上游公司或其最终受益所有人/最终实益拥有人(UBO)是已知的洗钱者、欺诈者或恐怖分子，或曾严重侵犯人权，或直接或间接支持非法非国家武装组织。

(3) Suppliersof mine gold/silver, recycled gold/silver, other known upstream companies ortheir Ultimate Beneficial Owners (UBOs) are known as money launderers,fraudsters or terrorists, or have seriously violated human rights, or directlyor indirectly supported illegal non-state armed groups.

2.3.2 高风险标准：

2.3.2 High-riskcriteria：

2.3.2.1 高风险的位置

2.3.2.1High-risk locations

(1)黄金/白银来自受冲突影响和高风险地区 (CAHRA) 或曾在该等地区过境或通过该等地区运输。

(1) Gold/silvercomes from conflict-affected and high-risk areas (CAHRA) or has transited orbeen transported through such areas.

(2)黄金/白银据称来自已知或合理怀疑来自 CAHRA 的黄金/白银过境的国家/地。

(2) Thegold/silver is allegedly sourced from countries/regions where gold/silvertransit is known or reasonably suspected to originate from CAHRA.

(3)黄金/白银据称来自已知储量、可能资源或预期产量有限的国家/地区。

(3) Gold/silveris allegedly sourced from countries/regions with known reserves, potentialresources, or expected limited production.

2.3.2.2 高风险供应商/交易方或其他已知上游公司：

2.3.2.2 Highrisk suppliers/parties or other known upstream companies:

(1) 在具有高洗钱风险的国家/地区运营

(1) Operatingin countries/regions with high money laundering risks

(2) 具有符合基于位置高风险标准的股东或最终收益方或其他黄金白银供应权益

(2) Having shareholdersor ultimate beneficiaries or other gold and silver supply interests that meetthe high-risk criteria based on location

(3) 具有身为政治人物的最终收益方

(3) Being theultimate beneficiary as a politician

(4) 从事高风险商业活动(如军火、赌博和娱乐业、古董和艺术、教派及其领袖)

(4) Engaging inhigh-risk commercial activities (such as arms trading, gambling andentertainment industry, antiques and art, religious sects and their leaders)

(5) 已知在过去12 个月曾从高风险国家/地区采购黄金/白银

(5) It is knownthat gold/silver has been purchased from high-risk countries/regions in thepast 12 months

(6) 与供应链中的供应商或对手方之间有重要且无法解释的运输路线。

(6) There aresignificant and unexplained transportation routes with suppliers orcounterparties in the supply chain.

(7) 提供的文件有重大差异/不一致，或拒绝提供所要求的文件。

(7) There aresignificant discrepancies/inconsistencies in the provided documents, or therequested documents are refused to be provided.

2.3.2.3 高风险物料：

2.3.2.3High-risk materials:

矿山金/银:

Minedgold/silver

(1) 采购自手工和小规模采矿(ASM)

(1) Purchasedfrom Artisanal and Small-Scale Mining(ASM)

(2) 使用汞生产

(2) Producedwith mercury

(3) 造成灾难性伤害或高度不利的环境、社会与治理因素(ESG) (在公司尽可能能够识别的范围内)

(3)Catastrophic injury or highly adverse Environmental, Social and Governance factors(ESG)(to the extent that the Company is able to identify them)

再生金/银

Recycledgold/silver

(1)来自具有高风险供应链的中间精炼厂或交易商或从具有高风险供应链的中间精炼厂采购的交易对手方

(1)Transactioncounterparties from intermediate refineries or traders with high-risk supplychains or purchases from intermediate refineries with high-risk supply chains

(2)无法证明其为再生金/再生银

(2) Unable toprove that to be recycled gold/silver

2.4 ESG因素

2.4 ESG factors

(1) 遵守经营所在国/地区的环境、健康、安全和劳工法规/政策；

(1) Comply withthe environmental, health, safety, and labor regulations/policies of thecountry/region where the business operates;

(2) 环境管理，包括

a.        空气、水、土地污染及事件管理计划；

b.       水资源管理，特别是在缺水的地区

c.        未经授权从世界遗产地和保护区采购

(2) Environmental management, including

a.       Air, water, and land pollution, as wellas incident management plans;

b.      Water resource management, especiallyin water-scarce regions

c.       Unauthorized procurement from WorldHeritage sites and protected areas

(3)危险化学品(包括汞和氰化物)的储存、处理和处置;

(3) Storage,handling, and disposal of hazardous chemicals, including mercury and cyanide;

(4)劳工管理，包括薪酬、工作时间、集体谈判、歧视、多样性、纠纷和工人权益保障

(4) Labormanagement, including compensation, working hours, collective bargaining,discrimination, diversity, disputes, and protection of workers' rights andinterests

(5)社区参与和管理方案(土地征用和社区重新安置、文化遗产和土著居民、关闭规划和保护弱势群体)

(5) Communityparticipation and management plan (land acquisition and community resettlement,cultural heritage and indigenous people, closure planning, and protection ofvulnerable groups)

(6)管理商业诚信和道德行为，并支持实施相关倡议(如采掘业透明度倡议EITI)

(6) Managebusiness integrity and ethical conduct, and support the implementation ofrelevant initiatives (such as the Extractive Industries TransparencyInitiative, EITI)

2.5 物料风险识别

2.5 MaterialRisk Identification

2025年度，公司采购的金/银原料主要为国内回收合质金/银，不涉及海外来料。公司通过KYC问卷、供应商承诺书、来料登记、称重拍照、检测记录、运输及交接记录、付款凭证等资料，识别物料是否属于再生金/银、是否存在无法证明再生属性、来源异常、文件不一致、疑似高风险中间精炼厂或交易商等风险。报告期内，未识别出物料相关零容忍风险或高风险。
In 2025, the Company’s gold/silverraw materials were mainly domestic recycled alloy gold/silver and did notinvolve overseas materials. Through KYC questionnaires, supplier undertakings,incoming material registers, weighing and photo records, testing records,transportation and handover records, and payment vouchers, the Companyidentifies whether materials are recycled gold/silver and whether there arerisks such as inability to prove recycled status, abnormal source, documentinconsistency, or suspected high-risk intermediate refiners or traders. Duringthe reporting period, no material-related zero-tolerance risk or high risk wasidentified.

2.6 关于强化尽职调查的说明(EDD)

2.6 Explanationon Enhanced Due Diligence(EDD)

众恒隆通过KYC程序对上游原料供应商进行尽职调查，主要包括供应商基本信息、业务活动、供应商股东和受益人信息、物料来源、负责任采购建立和实施情况、ESG基本情况、反洗钱、反贿赂和反恐怖主义融资的相关规定，强迫劳工和物料运输情况。结合制定的《风险评估表》对交易方进行了CAHRAs识别和风险识别。一旦供应链中有任何的高风险被识别出来，采用设计的《现场考察表》对涉及高风险的供应商通过线上和现场拜访的形式进行加强型尽职调查(EDD)，如可能，会聘请有资质的公司执行，以确定并评估风险。

Zhonghenglongconducts due diligence on upstream raw material suppliers through KYC, mainlycovering basic supplier information, business activities, information onsupplier shareholders and beneficiaries, material sources, establishment andimplementation of responsible procurement, basic ESG conditions, relevantregulations on anti-money laundering, anti-bribery, and anti-terroristfinancing, as well as forced labor and material transportation conditions.Based on the developed "Risk Assessment Form", the Company identifiesCAHRAs and accesses risks for trading partners. Once any high risk  is identified in the supply chain, theCompany will use the "On-site Inspection Form" to conduct Enhanced DueDiligence(EDD) on suppliers involved in high risks through online and on-sitevisits. Where possible, the Company will engage qualified third-partyinstitutions to perform the inspection to identify and assess risks.

2025年度，我司未触发加强型尽职调查要求。公司进一步明确强化尽职调查(EDD)的触发条件和执行流程：如交易方或其最终受益所有人/最终实益拥有人（Ultimate Beneficial Owner, UBO）为政治公众人物（PoliticallyExposed Person, PEP），涉及高洗钱风险地区或行业，文件存在重大不一致，拒绝提供必要资料，存在异常运输路线、现金交易历史，涉及CAHRAs或其他高风险信号，公司应启动EDD。EDD可包括补充KYC资料、第三方数据库筛查、现场或远程访谈、设施检查、运输链条核查、要求第三方审计或鉴证报告、形成EDD记录并提交合规总监审批。

In 2025, the Companydid not trigger the requirements for enhanced due diligence. The Companyfurther clarified the trigger conditions and implementation process forenhanced due diligence (EDD). If a counterparty or its Ultimate BeneficialOwner (UBO) is a Politically Exposed Person (PEP), involves a high money-launderingrisk jurisdiction or sector, has material document inconsistencies, refuses toprovide necessary documents, has abnormal transportation routes, a history ofcash transactions, involvement in CAHRAs or other high-risk signals, theCompany should initiate EDD. EDD may include supplementary KYC, third-partydatabase screening, on-site or remote interviews, facility inspection,transportation chain verification, requests for third-party audit or assurancereports, preparation of EDD records and submission to the Compliance Directorfor approval.

若触发加强型尽职调查，精炼商必须对黄金产地进行实地调查/考察，实地考察应至少包括但不限于：

If enhanced duediligence is triggered, we must conduct on-site investigations/inspections ofgold/silver producing areas, The field inspection should include at least, butnot limited to:

(1)  证实记录在案的 KYC 信息；

(1) Verify the documented KYC information;

(2)  重点调查威胁融资风险以及具体的供应链尽职调查结果 ；

(2) Focus on investigating the risk of threateningfinancing and the specific results of supply chain due diligence;

(3)  在任何交易发生前一个月内进行，或至少在业务关系开始后六个月内进行一次实地考察；

(3) Conduct an on-site inspection within one month beforeany transaction occurs, or at least once within six months after thecommencement of the business relationship;

(4)  由与供应商没有任何利益冲突的胜任员工或独立的第三方顾问进行。 进行实地考察的人员必须承诺如实、准确地报告；

(4) The inspection should be carried out by competentemployees who have no conflict of interest with the supplier, or by independentthird-party consultants. The personnel conducting the on-site inspection mustcommit to reporting truthfully and accurately;

(5)  在适用的情况下，咨询相关的内部和外部利益相关方(例如，地方或中央主管机构、上游公司、国际或民间社会组织或受影响的第三方)；

(5) Where applicable, consult relevant internal andexternal stakeholders (e.g., local or central authorities, upstream companies,international or civil society organizations, or affected third parties);

(6)  在实地考察报告模板中完整和准确地记录；若无法实施实地评估，我司将停止相关交易，并根据法律法规及交易合同约定处理。

(6) Record completely and accurately in the fieldinspection report template; if on-site assessment cannot be conducted, the Companywill cease related transactions and handle them in accordance with laws,regulations, and transaction contract agreements.

(7)  根据问题的数量和严重程度予以跟进，并记录在改进计划中。

基于所接收的含金材料类型，加强型尽职调查措施可在实地考察期间或远程开展。

(7) Follow upon issues based on their quantity and severity, and record them in theimprovement plan.

Based on thetype of gold-bearing material received, enhanced due diligence measures can beconducted during on-site inspections or remotely.

有关高风险大规模采矿(LSM)黄金供应链的EDD措施应包括但不限于：

EDD measurespertaining to high-risk Large-Scale Mining（LSM）gold supplychains should encompass, but are not necessarily limited to:

(1)    对从矿山到精炼厂的基于冲突地点的高风险供应链中的每一家公司(包括黄金生产商、中间商、黄金交易商和出口商以及运输商)按比例开展 KYC 活动。

(1)Conduct KYCactivities proportionally for every company in the high-risk supply chain basedon conflict locations, from mines to refineries, including gold producers,intermediaries, gold traders and exporters, as well as transporters.

(2)   了解在矿区和供应链中提供的公共或私人安保服务的性质(包括根据《安全和人权自愿原则》对安保人员进行筛选和培训)。

(2)Understand thenature of public or private security services provided in mining areas andsupply chains (including screening and training of security personnel inaccordance with the Voluntary Principles on Security and Human Rights).

(3)   考虑矿区和运输路线军事化以及为非法非国家武装组织或公共或私人安全部队提供直接或间接支持的风险。

(3)Consider therisks of militarizing mining areas and transportation routes, as well asproviding direct or indirect support to illegal non-state armed groups orpublic or private security forces.

(4)   确定任何一方在矿区、运输路线和黄金交易及/或出口环节犯下任何严重侵犯人权行为的风险。

(4)Identify therisk of any serious human rights violations committed by any party in themining area, transportation routes, and gold trading and/or export processes.

(5)   根据生产者特许权估计手工和小规模采矿业者(如有)人数，并确认其合法 ASM 身份、考虑第三方来源的黄金在不知情的情况下被引入生产商运营过程的风险 、考虑生产者和 ASM 参与者之间的关系，以识别冲突或紧张的实例。

(5)Estimate thenumber of artisanal and small-scale miners (if any) based on the concessions ofproducers, confirm their legal ASM status, consider the risk of gold fromthird-party sources being unknowingly introduced into the producer's operationprocess, and take into account the relationship between producers and ASMparticipants to identify instances of conflict or tension.

(6)   在适用的情况下，完成税务和使用费合规的自我声明。

(6)Completeself-declaration of tax and royalty compliance, where applicable.

(7)   除非法律禁止，否则，了解从提取开始在供应链的所有点对政府机构和官员、公共或私人安全部队或其他武装组织作出的支付或补偿。

(7)Unlessprohibited by law, be aware of any payments or compensation made to governmentagencies and officials, public or private security forces, or other armedorganizations at all points in the supply chain, starting from extraction.

(8)考虑就初步尽职调查中确定的问题遵守环境、健康、安全、劳工、社区、商业诚信法规、政策和最佳实践的情况。

(9)Considercompliance with environmental, health, safety, labor, community, businessintegrity regulations, policies, and best practices regarding the issuesidentified during the preliminary due diligence.

有关高风险 ASM 黄金供应链的 EDD 措施应包括但不限于：

EDD measures pertaining tohigh-risk ASM gold supply chains should encompass, but are not limited to:

(1)   对从矿石加工厂或黄金汇集商到精炼商的基于地点的高风险供应链中的每一家公司(包括合作社、黄金交易商和出口商以及运输商)按比例开展 KYC 活动

(1)   Conduct KYC activities proportionallyfor each company in the high-risk supply chain based on location, ranging fromore processing plants or gold aggregators to refiners, including cooperatives,gold traders and exporters, as well as transporters.

(2)   收集关于 ASM 供应商的政府、政治或军事联系的信息(包括任何与非国家武装团体或公共或私人安全部队关系的报告实例)。

(2)   Collect information on the government,political, or military connections of ASM suppliers (including any reportedinstances of relationships with non-state armed groups or public or privatesecurity forces).

(3)   收集有关任何一方在矿区、运输路线和黄金交易及/或出口环节犯下任何严重侵犯人权行为的证据。

(3)   Collect evidence of any serious humanrights violations committed by any party in the mining areas, transportationroutes, and gold trading and/or export processes.

(4)   考虑矿区和运输路线军事化以及为非法非国家武装组织或公共或私人安全部队提供直接或间接支持的风险。

(4)   Consider the risks of militarization ofmining areas and transportation routes, as well as the provision of direct orindirect support to illegal non-state armed groups or public or privatesecurity forces.

(5)   Take into account any conflicts ortensions between LSM and ASM.

(5)   考虑到 LSM 和 ASM 之间的任何冲突或紧张关系。

(6)   考虑有关来自其他来源的黄金在不知情的情况下被引入黄金供应链及/或虚假陈述的风险、怀疑或报告。

(6)   Consider risks, suspicions, or reportsregarding the unintentional introduction of gold from other sources into thegold supply chain and/or misrepresentation.

(7)   考虑汞的储存、处理和使用以及对环境和工人健康的影响。

(7)   Consider the storage, handling, and useof mercury, as well as its impact on the environment and workers' health.

(8)   评估与最初尽职调查中确定的问题相关的其他 ESG 风险管理实践的适当性。

(8)   Evaluate the appropriateness of otherESG risk management practices related to the issues identified during theinitial due diligence.

(9)   除非法律禁止，否则，了解从提取开始在供应链的所有点对政府机构和官员、公共或私人安全部队或其他武装组织作出的支付或补偿。

(9)   Unless prohibited by law, obtaininformation on payments or compensation made to government agencies andofficials, public or private security forces, or other armed organizations atall points in the supply chain, starting from extraction.

有关来自中间精炼商的高风险再生金的 EDD 措施应包括但不限于：

提供关于中间精炼商的负责任采购实践的独立鉴证报告：

(1)包括对遵循经合组织负责任采购计划的评估

(2)由中间精炼商委托开展

(3)在新的业务关系开始之前或在精炼商实施本指南的合理时间框架内完成

(4)中间精炼商的最终实益拥有人的身份

EDD measurespertaining to high-risk recycled gold sourced from intermediate refiners shouldencompass, but are not limited to:

Provideindependent assurance reports on the responsible sourcing practices ofintermediate refiners:

(1)   Including the assessment of compliancewith the OECD's Responsible Procurement Initiative

(2)   Conducted by an intermediate refiner

(3)   Complete before the commencement of anew business relationship or within a reasonable timeframe for refiners toimplement this guideline

(4)   The identity of the ultimate beneficialowner of the intermediate refiner

2025年度，业务部门按《供应链尽职调查管理办法》进行合规调查，合规总监负责审查尽职调查的真实性、有效性和完整性。2025年所有物料均来自于中国及中国香港，且中国及中国香港未被识别为CAHRAs, 也未识别出供应商和其供应链中有零容忍风险，高风险以及强迫劳工的风险，所以未触发强化尽职调查。

In 2025, thebusiness department conducted compliance investigations in accordance with the"Supply Chain Due Diligence Management Measures". The compliancedirector was responsible for reviewing the authenticity, effectiveness, andintegrity of the due diligence. In 2025, all materials were sourced from Chinaand Hong Kong SAR, China and Hong Kong SAR were not identified as CAHRAs. Nosuppliers or their supply chains were identified as posing zero-tolerancerisks, high risks, or forced labor risks, thus no enhanced due diligence wastriggered.

2.7 风险评估团队与审批流程

2.7 RiskAssessment Team and Approval Process

2025年度，公司继续由业务部、收发部、财务部、提纯检测中心、质检中心等部门人员组成风险评估团队。业务部门负责收集KYC及供应商基础资料并进行初审；相关部门合规专员负责核对物料、检测、收发、付款及档案资料；合规风控官负责对供应商资料、CAHRA识别结果和风险等级进行复核；合规总监负责最终审批风险评估结果。所有审批意见应在KYC文件、风险评估表或年度评估记录中留痕。

In 2025, theCompany continued to maintain a risk assessment team composed of personnel fromthe Business Department, Receiving and Dispatching Department, FinanceDepartment, Purification Testing Center, Quality Inspection Center and otherdepartments. The Business Department collects KYC and supplier basicinformation and conducts preliminary review; departmental compliance officersverify material, testing, receiving/dispatching, payment and archive documents;the Compliance Risk Officer reviews supplier documents, CAHRA identificationresults and risk ratings; and the Compliance Director grants final approval torisk assessment results. All approval opinions should be recorded in KYC files,risk assessment forms or annual assessment records.

第三步 设计并实施策略来应对已识别的风险

Step 3: Design and implement amanagement strategy to respond to identified risks

合规声明与要求：

Statement ofCompliance:

我公司已经充分遵守第3步：设计和实施风险管理体系以应对识别的风险。

We have fullycomplied with Step 3: Design and implement a management system to respond toidentified risks.

1、制定风险管理策略

1. Develop risk management strategies

众恒隆制订了《供应链风险减缓管理办法》，约定了在供应商评估及日常业务开展过程中发现的违规情况的处理方式；规范了发现供应商存在高风险行为的处理步骤；明确了尽职管理各级组织、人员的责任，以及向高级管理人员汇报实施进度等。

Zhonghenglonghas formulated the "Supply Chain Risk Mitigation ManagementMeasures", which stipulates the handling methods for violations foundduring supplier evaluation and daily business operations; standardizes thesteps for handling high-risk behaviors identified among suppliers; andclarifies the responsibilities of organizations and personnel at all levels indue diligence management, as well as the reporting of implementation progressto senior management.

如果供应链中识别出零容忍的风险，不得与其建立业务关系，或必须立即终止现有的业务关系。

Ifzero-tolerance risks are identified in the supply chain, no businessrelationship should be established with such parties, or existing businessrelationships must be terminated immediately.

当识别出以下问题，公司应立即停止与交易方的合作关系：

Uponidentifying the following issues, the company should immediately terminate itscooperative relationship with the trading party:

(1)   洗钱

(1)Moneylaundering

(2)   恐怖主义融资

(2)Terroristfinancing

(3)   严重侵犯人权

(3)Seriousviolations of human rights

(4)   直接或间接支持非国家武装组织

(4)Direct orindirect support for non-state armed groups.

(5)   谎报矿物产地

(5)Misrepresentationof mineral origin

(6)   具有灾难性的ESG影响

(6)CatastrophicESG effects

当实施加强型尽职调查后，对以上问题有合理的怀疑，公司应立即暂停与交易方的合作关系，一旦在6个月内从供应商处获取对上述怀疑的反驳性证明和回应，即可由合规总监审批后恢复业务关系。

Afterconducting enhanced due diligence, if there are reasonable doubts regarding theaforementioned issues, the company should immediately suspend its cooperationwith the trading party. Once rebuttal evidence and responses to the aforementioneddoubts are obtained from the supplier within six months, the businessrelationship can be resumed upon approval by the compliance director.

2、对评估为高风险的供应商采取以下措施：

2. Thefollowing measures shall be taken against suppliers assessed as high-risk:

(1)实施加强型尽职调查

(1) Conductenhanced due diligence

(2)不与该供应商建立业务关系

(2) Notestablishing business relations with this supplier

(3)  与已建立业务关系的供应商暂停合作

如果在6个月内，供应商提供反驳性证明和回应，且能再次符合公司对风险的评估要求，重新建立合作关系。

(3)Suspend cooperation with suppliers who have establishedbusiness relationships. If, within six months, the supplier provides rebuttalevidence and a response, and can once again meet the company's risk assessmentrequirements, the cooperation relationship can be re-established;

(4)与已建立业务关系的供应商暂停业务

如果在6个月内，供应商不能符合公司对风险的评估要求，将终止合作。

(4) Suspendbusiness with suppliers who have established business relationships andterminate cooperation if they fail to meet the company's risk assessmentrequirements within 6 months.

当实施加强型尽职调查的结果不完全令人满意，或认为虽然存在以下情况，但供应商已作出合理和善意的努力，公司可继续与供应商合作，并与供应商一起制定并执行改善计划：

When theresults of the enhanced due diligence are not entirely satisfactory, or when itis believed that the supplier has made reasonable and good-faith effortsdespite the following circumstances, the company may continue to cooperate withthe supplier and work together with the supplier to develop and implement animprovement plan:

(1)贿赂

(1)Bribery

(2)非欺诈性误报矿物产地

(2)Non-fraudulent misreporting of mineral origin

(3)未支付应付政府的税收、费用和特许权使用费

(3)Failure topay taxes, fees and royalties due to the government

(4) 严重违反与环境、健康、安全、劳工和社区有关的地方立法，及/或存在极有可能造成高度不利影响的 ESG 风险。

(4)Seriousviolation of environmental, health, safety, labor and community-related local laws,which is highly likely to cause serious adverse effects.

对任何识别出的风险，公司将会与交易方和利益相关方进行沟通并制定相应的风险缓解计划。风险缓解计划实施后，相关的风控专员就供应商提供材料证据与反馈的过程进行记录，对供应商所提交的材料进行核实与审查，确保风险缓解进展与实施的有效性。

For anyidentified risks, the company will communicate with trading partners andstakeholders and develop corresponding risk mitigation plans. After theimplementation of the risk mitigation plan, the relevant risk controlspecialist will record the process of suppliers providing material evidence andfeedback, verify and review the materials submitted by suppliers, and ensurethe effectiveness of risk mitigation progress and implementation.

众恒隆严格遵守LBMA负责任黄金/白银指南，设计并实施策略来应对已识别的风险。2025年未发现零容忍和高风险供应链，不需要做风险缓解措施。

Zhonghenglongstrictly adheres to the LBMA's Responsible Gold/Silver Guidelines, devising andimplementing strategies to address identified risks. In 2025, no zero-toleranceor high-risk supply chains were identified, thus no risk mitigation measureswere required.

3、已建立风险评估报告制度

3. A risk assessment reporting systemhas been established

公司建立风险评估报告制度，每年合规专员对部门尽职调查工作上报合规总监。2025年度的风险识别和评估结果已汇报给合规总监并保留了相应的传达记录。2026年度的风险识别和评估结果将由各部门合规专员汇总后报送合规风控官复核，并提交合规总监审批；相关传达记录、风险评估表及审批记录应留存归档。

The company hasestablished a risk assessment reporting system, where the compliance specialistreports the due diligence work of each department to the compliance directorannually. The risk identification and assessment results for the year 2025 havebeen reported to the compliance director, and corresponding communicationrecords have been retained. The risk identification and assessment results for2026 will be summarized by departmental compliance officers, reviewed by theCompliance Risk Officer and submitted to the Compliance Director for approval.Relevant communication records, risk assessment forms and approval recordsshould be retained and archived.

第四步 独立第三方审计

Step 4 Arrange for an independentthird-party audit of the supply chain due diligence.

合规声明：

Statement ofCompliance:

我公司已经充分遵守第4步：安排供应链尽职调查的独立第三方审计。

We have fullycomplied with Step 4: Arrange for an independent third-party audit.

公司严格遵守对精炼商的尽职调查实践开展独立的第三方审计的要求。自2020年开始，公司已委托RCS Global进行LBMA相关负责任合规审计并依照审计要求提供相关数据及文件。2025年度，公司继续按照LBMA要求根据合同约定委托独立第三方SLR对供应链尽职调查实践进行审计、鉴证。

The Company hasstrictly complied with the requirements of Step 4 of the LBMA Responsible Goldand Silver Guidance “conduct an independent third-party audit of the refiner’sdue diligence practice” and has appointed RCS Global to audit the supply chaindue diligence system of the Company since 2020. In 2025, the Company continuesto arrange for an independent third party SLR to audit and assure its supplychain due diligence practices in accordance with LBMA requirements.

第五步 供应链尽职调查年度报告

Step 5 Annual report on supply chaindue diligence

合规声明：

Statement ofCompliance:

我公司已经充分遵守第5步：有关供应链尽职调查的报告。

We have fullycomplied with Step 5: Report on supply chain due diligence.

众恒隆严格遵守供应链尽职调查年度合规报告的要求，按时编制2025年度供应链尽职管理合规报告，并于公司官方网站进行公示: https://www.zhlsy.com/zygg/info_17_itemid_109.html

Zhonghenglongstrictly adheres to the requirements of the annual compliance report for supplychain due diligence, prepares the 2025 annual supply chain due diligencemanagement compliance report on time, and publicizes it on the company'sofficial website: https://www.zhlsy.com/zygg/info_17_itemid_109.html

需要了解更多内容或者对本报告有任何反馈意见，可通过电话0755-29503388或电子邮件legal@zhlsy.com与我们联系。

If you need to know more or have any feedbackon this report, please contact us by phone at 0755-29503388 or email atlegal@zhlsy.com.

四、供应链可持续发展与ESG执行情况

IV. Supply Chain Sustainability and ESGPerformance

2025年度，公司继续将资源循环利用、绿色生产、员工权益保护、反洗钱、反恐怖主义融资、反强迫劳动及商业诚信作为供应链管理的重要内容。公司已取得ISO14001和ISO9001认证，持续执行废水循环利用和零排放目标，并已推出“零碳金条”相关产品实践。公司在供应商尽职调查中关注环境、健康、安全、劳工、社区、商业诚信及EITI原则等因素，并通过供应商承诺书、KYC问卷、风险评估表、培训和申诉机制推动供应链责任管理。

In 2025, the Companycontinued to treat resource recycling, green production, protection of employeerights, anti-money laundering, counter-terrorist financing, anti-forced laborand business integrity as important components of supply chain management. TheCompany has obtained ISO14001 and ISO9001 certifications, continues toimplement wastewater recycling and zero-discharge goals, and has introducedzero-carbon gold bar related product practices. In supplier due diligence, theCompany pays attention to environmental, health, safety, labor, community,business integrity and EITI principles, and promotes responsible supply chainmanagement through supplier undertakings, KYC questionnaires, risk assessmentforms, training and grievance mechanisms.

五、管理结论

V. Management Conclusion

综上所述，截至于2025年12月31日的报告年度内，深圳市众恒隆实业有限公司完全遵守了《LBMA负责任黄金/白银指南》，实施并维护供应链尽职调查管理制度、操作程序、风险识别和评估流程、文件保存、培训、申诉及独立第三方审计/鉴证安排。报告期内，公司未识别出零容忍风险和高风险供应链。公司将继续完善KYC资料收集、供应商核验、物料留痕、内部追溯、申诉处理、培训和管理评审机制，并根据LBMA及监管要求持续提升风险防范能力。

In summary,during the reporting year ended December 31, 2025, Shenzhen ZhonghenglongIndustrial Co., Ltd. was in fully compliance with the LBMA Responsible GoldGuidance and the LBMA Responsible Silver Guidelines. The company implementedand maintained supply chain due diligence management systems, operatingprocedures, risk identification and assessment processes, record retention,training programmes, grievance mechanisms and independent third-partyaudit/assurance arrangements. During the reporting period, no zero-tolerancerisks or high-risk supply chains were identified. The Company will continue to strengthenits KYC information collection, supplier verification, material evidenceretention, internal traceability, grievance handling, training, and managementreview mechanisms, while further enhancing its supply chain risk management capabilitiesin accordance with LBMA and applicable regulatory requirements.