上海锦天城(青岛)律师事务所 关于威海市天罡仪表股份有限公司 2023 年年度股东大会的 2023 年年度股东大会的 法律意见书 锦 务 所 ALI BRIGHT FICES 地址:青岛市市南区香港中路 8号甲青岛中心大厦 A 座 45 层 电话: 0532-55769166 传真。 0532-55769155 邮编: 266071 上海锦天城（青岛）律师事务所 关于威海市天罡仪表股份有限公司 （二）本次股东大会的召开 法律意见书 致威海市天罡仪表股份有限公司： 上海锦天城（青岛）律师事务所（以下简称"本所"）接受威海市天罡仪表股 份有限公司（以下简称"公司"或"天罡股份"）的委托，指派靳如悦、张晓敏律师 出席了公司于 2024 年 5 月 24 日召开的 2023 年年度股东大会（以下简称"本次股 东大会"）。 现根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中 华人民共和国证券法》（以下简称"《证券法》"）和《上市公司股东大会规则》 (以下简称"《股东大会规则》")等法律、行政法规、规范性文件以及《威海市 天罡仪表股份有限公司章程》（以下简称"《公司章程》"）的规定，对本次股东 大会会议的召集 ...

威海市天罡仪表股份有限公司 证券代码：832651 证券简称：天罡股份 公告编号：2024-033 一、会议召开和出席情况 （一）会议召开情况 1.会议召开时间：2024 年 5 月 24 日 2.会议召开地点：山东省威海市环翠区火炬南路 576 号公司会议室 3.会议召开方式：现场投票和网络投票相结合 4.会议召集人：董事会 2023 年年度股东大会决议公告 5.会议主持人：董事长付涛先生 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 6.召开情况合法、合规、合章程性说明： 本次股东大会通知已于 2024 年 4 月 26 日在北京证券交易所指定信息披露平 台公告。本次股东大会的召集、召开、议案审议程序等均符合《中华人民共和国 公司法》及《公司章程》中关于召开股东大会的有关规定，所作决议合法有效。 （二）会议出席情况 出席和授权出席本次股东大会的股东共 13 人，持有表决权的股份总数 45,726,629 股，占公司有表决权股份总数的 74.9617%。 其中通过网络投票参与本次股东大会的股东共 1 ...

Group 1: Dividend Distribution - The company plans to distribute a cash dividend of 7.00 CNY per 10 shares (including tax) based on the total share capital registered on the equity distribution record date [2] - The dividend proposal requires approval at the annual general meeting on May 24, 2024, and will be distributed within two months after approval [2] - The company aims to conduct cash dividends annually, with the possibility of mid-term cash dividends based on actual operating conditions [2] Group 2: Fundraising and Investment Projects - Funds raised from the public offering will be allocated to the IoT smart ultrasonic metering instrument industrialization project, R&D center upgrade, and working capital [2] - The completion of the IoT project is expected to enhance production line layout and market competitiveness, while the R&D upgrade will diversify product types and improve profitability [2] Group 3: Financial Performance and Revenue Recognition - The company reported a gross margin of 53.52% in 2023, up from 50.99% in 2022, indicating stable gross margin performance over recent years [3] - A decline in Q1 revenue by 16% was attributed to complex installation and acceptance processes, delaying revenue recognition [2][3] - The company confirmed that revenue is recognized only after customer acceptance, impacting Q1 performance [2] Group 4: Market Management and Share Buyback - The company has not disclosed any share buyback plans but will fulfill disclosure obligations if such plans arise [4] - Market price fluctuations are influenced by various factors, and the company is focused on enhancing its intrinsic investment value [4] Group 5: R&D Investment and International Market - The R&D center upgrade is 70% complete, with an investment of 13.04 million CNY in 2023, representing 4.86% of operating revenue [5] - The company generated 2.9958 million CNY in overseas business revenue in 2023, with a significant portion of overseas sales attributed to agents [5] - Future efforts will focus on direct sales in international markets [5]

Group 1: Dividend Distribution - The company plans to distribute a cash dividend of 7.00 CNY per 10 shares (including tax) based on the total share capital registered on the equity distribution record date [2] - The dividend proposal requires approval at the 2023 annual general meeting on May 24, 2024, and will be distributed within two months after approval [2] - The company aims to conduct cash dividends annually, with the possibility of mid-term cash dividends based on actual operating conditions [2] Group 2: Fundraising and Investment Projects - Funds raised from the public offering will be allocated to the IoT smart ultrasonic metering instrument industrialization project, R&D center upgrade, and working capital [2] - The completion of the IoT project is expected to enhance production line layout and market competitiveness, while the R&D upgrade will diversify product types and improve profitability [2] Group 3: Financial Performance and Revenue Recognition - The company reported a gross margin of 53.52% in 2023, up from 50.99% in 2022, indicating stable gross margin performance over recent years [3] - A decline in Q1 revenue by 16% was attributed to complex installation and acceptance processes, delaying revenue recognition [2][3] - The company confirmed that revenue is recognized only after customer acceptance, impacting Q1 performance [2] Group 4: Market Management and Share Buyback - The company has not disclosed any share buyback plans but will fulfill disclosure obligations if such plans arise [4] - Market price fluctuations are influenced by various factors, and the company is focused on enhancing its operational foundation and intrinsic investment value [4] Group 5: R&D Investment and International Business - The R&D center upgrade is 70% complete, with an investment of 13.04 million CNY in 2023, representing 4.86% of operating revenue [5] - The company generated 2.99 million CNY in overseas business revenue in 2023, with a focus on strengthening direct sales in international markets [5]

威海市天罡仪表股份有限公司 投资者关系活动记录表 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、 投资者关系活动类别 □特定对象调研 证券代码：832651 证券简称：天罡股份 公告编号：2024-032 √业绩说明会 □媒体采访 □现场参观 □新闻发布会 □分析师会议 □路演活动 □其他 二、 投资者关系活动情况 活动地点：威海市天罡仪表股份有限公司（以下简称"公司"）在东方财富 路演中心（http://roadshow.eastmoney.com）举行 2023 年年度报告业绩说明会 参会单位及人员：通过网络方式参加 2023 年年度业绩说明会的投资者 上市公司接待人员：董事长付涛先生、董事会秘书安坤先生、财务负责人肖 晓燕女士、保荐代表人熊岳广先生、保荐代表人朱先军先生 三、 投资者关系活动主要内容 公司就投资者普遍关注的问题进行了回复，主要问题及回复如下： 问题 1：请问公司什么时候进行分红？多久进行一次利润分配？ 回答：您好！公司 2023 年度权益分派预案为：公司拟以实施权益分派股权 ...

Investment Rating - The investment rating for the company is upgraded to "Buy" [7][18]. Core Views - The company is expected to benefit from the ongoing reforms in heating measurement and the promotion of energy-saving technologies, leading to improved profitability [7][8]. - The company's revenue for 2023 reached 268 million yuan, a year-on-year increase of 12.23%, with a net profit of 62.05 million yuan, up 8.55% [7]. - The first quarter of 2024 showed a revenue decline of 14.44% to 37.93 million yuan, but the gross margin improved to 56.1% [7]. - The company plans to distribute a dividend of 0.7 yuan per share, implying a dividend yield of 5% for 2024 based on the current stock price [7]. - The projected net profits for 2024, 2025, and 2026 are 72 million yuan, 80 million yuan, and 94 million yuan respectively, with corresponding P/E ratios of 11.8, 10.7, and 9.1 [7][21]. Financial Summary - The company's total revenue is projected to grow from 268 million yuan in 2023 to 430 million yuan by 2026, reflecting a compound annual growth rate (CAGR) of approximately 15.6% [21]. - The net profit margin is expected to stabilize around 21.9% by 2026, with a return on equity (ROE) forecasted to reach 15.2% [21]. - The company's total assets are anticipated to increase from 661 million yuan in 2023 to 884 million yuan in 2026, indicating a healthy growth trajectory [25].

证券代码：832651 证券简称：天罡股份 公告编号：2024-031 威海市天罡仪表股份有限公司 2023 年年度报告业绩说明会预告公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、 说明会类型 威海市天罡仪表股份有限公司(以下简称"公司"）于 2024 年 4 月 26 日在北 京证券交易所官方信息披露平台（www.bse.cn）发布了《威海市天罡仪表股份有 限公司 2023 年年度报告》（公告编号：2024-006），为方便广大投资者更深入了 解公司 2023 年年度经营业绩的具体情况，加强与投资者的互动交流，公司拟召 开 2023 年年度报告业绩说明会。 二、 说明会召开的时间、地点 （一）会议召开时间：2024 年 5 月 21 日（星期二）15:00-17:00。 （二）会议召开地点 本次业绩说明会将采用网络远程的方式举行，投资者可登陆东方财富路演中 心（https://roadshow.eastmoney.com/）参与本次业绩说明会。 三、 参加人员 民生证券保荐代表人：熊岳广先 ...

证券代码：832651 证券简称：天罡股份 公告编号：2024-031 威海市天罡仪表股份有限公司 2023 年年度报告业绩说明会预告公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、 说明会类型 （二）会议召开地点 本次业绩说明会将采用网络远程的方式举行，投资者可登陆东方财富路演中 心（https://roadshow.eastmoney.com/）参与本次业绩说明会。 三、 参加人员 董事长：付涛先生 董事会秘书：安坤先生 财务负责人：肖晓燕女士 民生证券保荐代表人：熊岳广先生、朱先军先生 四、 投资者参加方式 威海市天罡仪表股份有限公司(以下简称"公司"）于 2024 年 4 月 26 日在北 京证券交易所官方信息披露平台（www.bse.cn）发布了《威海市天罡仪表股份有 限公司 2023 年年度报告》（公告编号：2024-006），为方便广大投资者更深入了 解公司 2023 年年度经营业绩的具体情况，加强与投资者的互动交流，公司拟召 开 2023 年年度报告业绩说明会。 二、 说明会召 ...

Investment Rating - The report maintains a "Buy - A" investment rating for the company, with a target price of 15.9 CNY based on a 14x PE valuation for 2024 [18][21]. Core Insights - The company reported a revenue of 268.2 million CNY in 2023, a year-on-year increase of 12.23%, and a net profit of 62 million CNY, up 8.55% from the previous year [2][21]. - The first quarter of 2024 saw a decline in revenue to 38 million CNY, down 14.44% year-on-year, and a net profit of 8 million CNY, down 16.25% [2]. - The company specializes in ultrasonic heat meters and water meters, contributing 44.71% and 29.53% to total revenue, respectively [3]. - Recent government policies are expected to accelerate the company's performance, particularly in the energy-saving and smart water management sectors, providing growth opportunities for its products and management systems [4][17]. Financial Summary - The company forecasts revenues of 316 million CNY, 363 million CNY, and 409 million CNY for 2024, 2025, and 2026, respectively [6][22]. - The projected net profits for the same years are 69.3 million CNY, 79.7 million CNY, and 94.9 million CNY [22]. - The company’s net profit margin is expected to stabilize around 22% to 23% over the next few years [22]. - The report indicates a significant increase in the company's total assets from 513.8 million CNY in 2022 to an estimated 850.6 million CNY by 2026 [22].

威海市天罡仪表股份有限公司 证券代码：832651 证券简称：天罡股份 公告编号：2024-029 第四届监事会第二十次会议决议公告 本公司及监事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、会议召开和出席情况 （一）会议召开情况 1.会议召开时间：2024 年 4 月 29 日 2.会议召开地点：公司会议室 3.会议召开方式：现场 4.发出监事会会议通知的时间和方式：2024 年 4 月 19 日以通讯方式发出 （二）会议出席情况 会议应出席监事 3 人，出席和授权出席监事 3 人。 二、议案审议情况 （一）审议通过《关于 2024 年一季度报告》议案 1.议案内容： 详见公司 2024 年 4 月 29 日在北京证券交易所指定信息披露平台 （http://www.bse.cn/）披露的《2024 年一季度报告》（公告编号：2024-030）。 2.议案表决结果：同意 3 票；反对 0 票；弃权 0 票。 5.会议主持人：监事会主席王宗祥先生 6.召开情况合法、合规、合章程性说明： 本次会议的召开符合《中华 ...