This announcement is a separate document:
皇氏集团：上海荣正企业咨询服务（集团）股份有限公司关于皇氏集团股份有限公司回购注销部分限制性股票相关事项之独立财务顾问报告
Royal Group Co.,Ltd.: Independent Financial Advisory Report of Shanghai Rongzheng Enterprise Consulting Service (Group) Co., Ltd. on matters relating to the repurchase and cancellation of some restricted shares of Huangshi Group Co., Ltd.
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