As the underwriting institution for the first public offering and listing of stocks of Lopter, the company has the following issues in its continuous supervision work: In December 2020, Lopter signed three supply agreements for projects in Duyun City, Guizhou Province, and other locations with clients. In 2021, Lopter and its wholly-owned subsidiary, Lopter System Integration Co., Ltd., signed three supply agreements for projects in Xiangshui County, Jiangsu Province, and Duyun City, Guizhou Province. Lopter recognized the revenue of the aforementioned projects based on the point of delivery and client acceptance. In fact, the control over the relevant commodities did not transfer to the clients at the time of revenue recognition by Lopter, and there were instances of inflated revenue in 2020 and 2021, as well as reduced profits in 2022. Sinolink Securities showed negligence and lack of diligence in its continuous supervision of Lopter, with inadequate on-site inspections and inaccurate conclusions in the issued continuous supervision reports and special inspection opinions. The Xiamen Securities Regulatory Bureau has decided to issue a warning letter to Sinolink Securities, Wang Xuelin, and Ruan Renqun as supervisory measures and will record the relevant information in their integrity files.