Securities code: 688538 Securities abbreviation: Hehui Optoelectronics Announcement No.: 2025-008

Shanghai Hehui Optoelectronics Co., Ltd

Announcement on the Appointment of an Auditor for the Issuance and Listing of H Shares

The board of directors and all directors of the company guarantee that there are no false records, misleading statements or material omissions in the content of this announcement, and assume legal responsibility for the authenticity, accuracy and completeness of its content in accordance with the law.

Important Content Notes:

Name of accounting firm to be hired: Ernst & Young

On February 20, 2025, Shanghai Hehui Optoelectronics Co., Ltd. (hereinafter referred to as the "Company") was held

The 11th meeting of the second session of the board of directors and the 9th meeting of the second session of the board of supervisors respectively deliberated and approved the "Proposal on the Company's Engagement of Auditors for the Issuance and Listing of H Shares", and agreed that the Company will hire Ernst & Young Hong Kong (hereinafter referred to as "Ernst & Young Hong Kong") as the auditor for the company's issuance of overseas listed foreign shares (H shares) and application for listing on the main board of The Stock Exchange of Hong Kong Limited (hereinafter referred to as the "issuance of H shares and listing"). The details are as follows:

1. The basic information of the accounting firm to be employed

1. Institutional information

Ernst & Young Hong Kong is a partnership established under the laws of Hong Kong and is wholly owned by its partners. Ernst & Young Hong Kong has been providing audit, tax and advisory services in Hong Kong since 1976, providing audit services to many listed companies in Hong Kong, including banking, insurance, securities and other financial institutions. EY Hong Kong has been a member of the EY global network since its inception.

2. Investor protection ability

Since 1 October 2019, EY Hong Kong has been registered under the Hong Kong Accounting and Financial Reporting Council Ordinance

is a PIE auditor. In addition, EY Hong Kong has been approved by the Ministry of Finance of the People's Republic of China to obtain a license to perform audit operations in Chinese mainland on a temporary basis, and is licensed by the Public Company Accounting Oversight Board (US) in the United States

PCAOB) and the Japanese Financial Services Authority (FSA) are registered accounting firms engaged in related audit business. EY Hong Kong purchases occupational insurance annually in accordance with relevant laws and regulations.

3. Integrity record

Since 2020, the Hong Kong Accounting and Financial Reporting Council (HKARCA) has conducted an annual inspection of EY Hong Kong as a PIE auditor, and prior to that, the Hong Kong Institute of Certified Public Accountants (HKICPA) has conducted an annual independent inspection of the same kind of EY Hong Kong. The practice quality checks in the last three years have not identified any matters that have a material impact on EY Hong Kong's audit engagement.

2. The procedures to be performed by the accounting firm to be appointed

(1) The opinion of the Audit Committee

The Audit Committee of the Board of Directors of the Company deliberated and approved the Proposal on the Company's Engagement of an Auditor for the Issuance and Listing of H Shares, and agreed that the Company should engage Ernst & Young Hong Kong as the auditor for the issuance and listing of the Company's H Shares, and agreed to submit the proposal to the Board of Directors of the Company for deliberation.

(2) Special meeting of independent directors

Ernst & Young has rich experience in financial auditing in overseas issuance and listing projects, with sufficient independence and professional ability, and the company's engagement of Ernst & Young as the audit institution for the issuance and listing complies with the relevant provisions of relevant laws, regulations and normative documents, and also conforms to the actual situation and needs of the company, and there is no harm to the interests of the company and shareholders, especially small and medium-sized shareholders. Agreed to engage Ernst & Young Hong Kong as the auditor for the issuance and listing of H shares, and agreed to submit this proposal to the board of directors of the company for deliberation.

(3) The deliberation and voting of the board of directors

On February 20, 2025, the company held the 11th meeting of the second board of directors and deliberated and approved the "Guan

Proposal to Engage Auditor for the Issuance and Listing of H Shares by the Company", agreed that the Company engaged Ernst & Young Hong Kong as the auditor for the issuance and listing of H Shares, and agreed to submit the proposal to the General Meeting of Shareholders for deliberation.

(4) The deliberation and voting of the board of supervisors

On February 20, 2025, the company held the ninth meeting of the second board of supervisors, and deliberated and approved the "About

Proposal for the Company to Engage the Auditor for the Issuance and Listing of H Shares", agreed that the Company will engage Ernst & Young Hong Kong as the auditor for the issuance and listing of the Company's H Shares.

(5) Effective date

The appointment of the auditor still needs to be submitted to the general meeting of shareholders of the company for deliberation, and will take effect from the date of approval of the general meeting of shareholders of the company.

The announcement is hereby made.

Board of Directors of Shanghai Hehui Optoelectronics Co., Ltd

February 22, 2025