Xj Electric 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 stocks in the 2022 Restricted Stock Incentive Plan of Xu Ji Electric Co., Ltd.

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许继电气：上海荣正企业咨询服务（集团）股份有限公司关于许继电气股份有限公司2022年限制性股票激励计划回购注销部分限制性股票相关事项之独立财务顾问报告

Xj Electric 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 stocks in the 2022 Restricted Stock Incentive Plan of Xu Ji Electric Co., Ltd.

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