SHANGHA 68 Yin Chena Road Middle anahai 200120 PR China 上海市通力律师事务所关于青岛建邦汽车科技股份有限公司 2025 年第一次临时股东大会的法律意见书 致:青岛建邦汽车科技股份有限公司 上海市通力律师事务所(以下简称"本所")接受青岛建邦汽车科技股份有限公司(以下 简称"公司")的委托,指派本所郭珣律师、茹秋乐律师(以下简称"本所律师")根据《中华 人民共和国公司法》《中华人民共和国证券法》《上市公司股东大会规则》等法律、法规以 及规范性文件(以下统称"法律法规")及《青岛建邦汽车科技股份有限公司章程》(以下简称 "公司章程")的规定就公司 2025 年第一次临时股东大会(以下简称"本次股东大会")相 关事宜出具法律意见。 本所律师已经对公司提供的与本次股东大会有关的法律文件及其他文件、资料予以了 核查、验证。在进行核查验证过程中,公司已向本所保证,公司提供予本所之文件中的所有 签署、盖章及印章都是真实的,所有作为正本提交给本所的文件都是真实、准确、完整和有 效的,且文件材料为副本或复印件的,其与原件一致和相符。 在本法律意见书中,本所仅对本次股东大会 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1][3]. Core Views - The company is expected to achieve a significant increase in net profit attributable to shareholders in 2024, with a forecasted growth of 45.01% to 55.06%, amounting to approximately 101 million to 108 million yuan [3]. - The growth is attributed to the ongoing global sales strategy, product upgrades, and the stable development of the global automotive aftermarket [3]. - The company has signed sales framework agreements totaling 160 million yuan, indicating strong demand for its products [3][4]. Financial Summary - The company forecasts revenue growth from 558 million yuan in 2023 to 754 million yuan in 2024, representing a year-over-year increase of 35.1% [9]. - The projected net profit for 2024 is 103 million yuan, with a net profit margin of 13.6% [9]. - The earnings per share (EPS) are expected to rise from 1.06 yuan in 2023 to 1.56 yuan in 2024 [9]. - The price-to-earnings (P/E) ratio is projected to decrease from 26.9 in 2023 to 18.2 in 2024, indicating a potentially attractive valuation [9]. Strategic Developments - The company has established a subsidiary in Thailand to enhance its global market presence and mitigate international competition risks [4]. - The investment in the Thai subsidiary is part of a broader strategy to leverage local advantages and improve profitability [4]. - The company has completed a project for developing new automotive non-wear parts, with actual investment slightly exceeding the planned budget [3].

证券代码：837242 证券简称：建邦科技 公告编号：2025-018 青岛建邦汽车科技股份有限公司 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 活动时间：2025 年 1 月 17 日 活动地点：线上交流会 √特定对象调研 □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 参会单位及人员：浙商证券、景顺长城基金、汇添富基金、鸿运私募基金、 国投证券、建信保险、指南投资、冰河资管、东北证券、行知创投、明达资管、 中信建投基金、新华保险、天猊投资、尚诚资管、度势投资、巴沃资管、融通基 金、西部证券、汇富基金、中泰证券、人民健康保险、永丰基金、苏豪投资、创 富金管、上海证券、临信资管、汇瑾资管、联储证券、交银国际证券、果实资本、 第一创业证券、长江证券、长城财富、渤海证券、星允资管、开源证券（排名不 分先后） 上市公司接待人员：公司董事长钟永铎先生、公司董事会秘书陈汝刚先生 三、投资者关系活动主要内 ...

Investment Rating - The report assigns an "Accumulate" rating for the company, marking its first coverage [1]. Core Viewpoints - The company is transitioning to in-house production of high-margin automotive electronic products, with expected growth in cross-border e-commerce orders [3][10]. - The automotive aftermarket in China is anticipated to grow significantly, driven by the dual effects of vehicle ownership and age [9][38]. Summary by Sections 1. Company Overview - The company, established in 2004, is a leading supplier in the automotive aftermarket for non-wear parts, focusing on both domestic and international markets [15]. - It has developed a comprehensive supply chain management service, collaborating with major clients both domestically and internationally [15][20]. 2. Market Dynamics - The automotive aftermarket is closely linked to vehicle ownership and age, with a growing demand expected as vehicle ages increase [35][38]. - The U.S. automotive aftermarket is projected to grow steadily, while China's market is still developing, indicating significant potential for future growth [36][38]. 3. Product and Production Strategy - The company manages over 30,000 SKUs across various automotive systems, ensuring product quality and delivery stability through a mature supply chain [3][55]. - The transition to in-house production of automotive electronics is underway, with a focus on expanding product offerings and enhancing production capabilities [3][10]. 4. Financial Projections - The company forecasts significant revenue growth, with total revenue expected to reach 786.45 million yuan in 2024, representing a year-on-year increase of 40.83% [1]. - Net profit is projected to grow to 106.13 million yuan in 2024, reflecting a 52.37% increase compared to the previous year [1][10]. 5. Sales and Revenue Growth - The company has seen a substantial increase in sales, with a 67.7% year-on-year growth in revenue from mainland China in 2023, which is expected to continue into 2024 [3][28]. - The growth in online orders, particularly from cross-border e-commerce clients, is contributing to the overall revenue increase [3][28]. 6. Investment Valuation - The current stock price corresponds to a dynamic P/E ratio of 17.18 for 2024, indicating a favorable valuation for potential investors [1][10].

Investment Rating - The investment rating for the company is "Buy" (maintained) [5] Core Views - The company is expected to achieve a net profit of 101 to 108 million yuan in 2024, representing a year-on-year growth of 45.01% to 55.06%. This rapid growth is attributed to the company's strategic execution and the stable development of the global automotive aftermarket [5][8] - The automotive industry in China is experiencing record sales, with production and sales reaching 31.28 million and 31.44 million vehicles in 2024, respectively, marking year-on-year growth of 3.7% and 4.5% [8] - The independent aftermarket (IAM) share is gradually increasing, from approximately 35% in 2018 to about 46% in 2022, with a trend towards concentration among leading enterprises [8] Financial Forecasts - Revenue projections for 2024, 2025, and 2026 are 790.10 million yuan, 953.11 million yuan, and 1,110.17 million yuan, with year-on-year growth rates of 41.49%, 20.63%, and 16.48% respectively [7][8] - The forecasted net profit for the same years is 103.36 million yuan, 123.60 million yuan, and 145.12 million yuan, with growth rates of 48.40%, 19.58%, and 17.41% respectively [7][8] - The expected EPS for 2024, 2025, and 2026 is 1.60 yuan, 1.92 yuan, and 2.25 yuan, with corresponding P/E ratios of 18.12X, 15.16X, and 12.91X [8] Market Position and Strategy - The company is actively expanding its sales channels and has adopted a comprehensive marketing strategy that combines online and offline approaches, as well as domestic and international markets [8] - The company manages over 30,000 SKUs and introduces approximately 2,000 to 3,000 new product models annually, focusing on automotive electronic products and integrated "hardware and software" solutions [8]

Investment Rating - The report initiates coverage with a "Buy" rating for the company [6][7]. Core Views - The company is positioned in the automotive aftermarket, focusing on non-wear parts, and is expected to benefit from the growth in automotive electronics as a new growth driver [6][14]. - The automotive aftermarket is characterized by its anti-cyclical nature, with key indicators such as vehicle ownership, average vehicle age, and mileage driving demand stability [6][34]. - The North American market shows a stable growth trajectory, while the domestic market is witnessing a significant trend towards electrification, indicating a turning point for non-wear parts demand [6][34]. Financial Data and Profit Forecast - Total revenue projections for 2024E, 2025E, and 2026E are 737 million, 902 million, and 1,091 million respectively, with year-on-year growth rates of 32.0%, 22.4%, and 20.9% [5][7]. - Net profit attributable to the parent company is forecasted to be 101 million, 119 million, and 137 million for the same years, with growth rates of 45.6%, 17.4%, and 14.7% respectively [5][7]. - The company’s return on equity (ROE) is expected to be 17.1%, 17.2%, and 17.0% for 2024E, 2025E, and 2026E [5][7]. Market Position and Strategy - The company has established a strong presence in the automotive aftermarket for over 21 years, providing comprehensive solutions for non-wear parts across various vehicle models [6][14]. - The company has diversified its customer base, reducing reliance on top clients from 70.72% in 2019 to 51.23% in 2024H1, while increasing its cross-border e-commerce client base [6][7]. - The company is actively investing in automotive electronics, launching 2,000 to 3,000 new product models annually, which is expected to drive significant revenue growth [6][22]. Industry Insights - The automotive aftermarket is expected to grow significantly, with the Chinese market projected to reach 1.93 trillion yuan by 2027, reflecting a CAGR of 8.97% from 2023 to 2027 [6][34]. - The complexity of automotive parts is increasing, leading to a shift towards a product and service competition model, which favors platform-based suppliers [6][34]. - The demand for non-wear parts in the electric vehicle segment is anticipated to increase, driven by higher maintenance costs compared to traditional fuel vehicles [6][50].

证券代码：837242 证券简称：建邦科技 公告编号：2025-001 青岛建邦汽车科技股份有限公司 第三届董事会第三十一次会议决议公告 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、会议召开和出席情况 （一）会议召开情况 1.会议召开时间：2025 年 1 月 8 日 2.会议召开地点：青岛建邦汽车科技股份有限公司会议室 3.会议召开方式：现场方式及通讯方式相结合 6.会议列席人员：监事、高级管理人员 7.召开情况合法、合规、合章程性说明： 本次会议的召集、召开、议案审议程序符合《中华人民共和国公司法》及 《青岛建邦汽车科技股份有限公司章程》的规定。 （二）会议出席情况 会议应出席董事 7 人，出席和授权出席董事 7 人。 董事楼周仁、师建华、徐胜锐因工作原因以通讯方式参与表决。 二、议案审议情况 （一）审议通过《关于董事会换届选举暨提名第四届董事会非独立董事候选人的 议案》 1.议案内容： 4.发出董事会会议通知的时间和方式：2025 年 1 月 3 日以电话、邮件方式发 出 5.会议主持人： ...

证券代码：837242 证券简称：建邦科技 公告编号：2025-016 青岛建邦汽车科技股份有限公司 关于召开 2025 年第一次临时股东大会通知公告（提供网络投票） 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、会议召开基本情况 （一）股东大会届次 本次会议为 2025 年第一次临时股东大会。 （二）召集人 本次股东大会的召集人为董事会。 2025 年 1 月 8 日，青岛建邦汽车科技股份有限公司（以下简称"公司"）第 三届董事会第三十一次会议审议通过《关于提请召开公司 2025 年第一次临时股 东大会的议案》，公司董事会根据本次会议决议召集股东大会。 （三）会议召开的合法性、合规性 本次会议的召集、召开程序符合《中华人民共和国公司法》及《青岛建邦汽 车科技股份有限公司章程》的规定。 本次会议的召开无需相关部门批准或履行必要程序。 （四）会议召开方式 本次会议采用现场投票和网络投票相结合方式召开。 公司同一股东只能选择现场投票、网络投票中的一种方式，如果同一表决 权现重复投票表决的，以第一次投票 ...

证券代码：837242 证券简称：建邦科技 公告编号：2025-002 青岛建邦汽车科技股份有限公司 第三届监事会第三十次会议决议公告 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 本次会议的召集、召开、议案审议程序符合《中华人民共和国公司法》及《青 岛建邦汽车科技股份有限公司章程》的规定。 （二）会议出席情况 1.会议召开时间：2025 年 1 月 8 日 2.会议召开地点：青岛建邦汽车科技股份有限公司会议室 3.会议召开方式：现场方式及通讯方式相结合 4.发出监事会会议通知的时间和方式：2025 年 1 月 3 日以电话、邮件方式发出 会议应出席监事 3 人，出席和授权出席监事 3 人。 监事王帅和因工作原因以通讯方式参与表决。 5.会议主持人：孙焕女士 6.召开情况合法、合规、合章程性说明： 二、议案审议情况 表决结果：同意 3 票；反对 0 票；弃权 0 票。 3.回避表决情况： 本议案不涉及关联交易事项，无需回避表决。 （一）审议通过《关于监事会换 ...

证券代码：837242 证券简称：建邦科技 公告编号：2024-123 青岛建邦汽车科技股份有限公司 关于注销募集资金专项账户的公告 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、募集资金基本情况 经中国证券监督管理委员会《关于核准青岛建邦供应链股份有限公司向不特 定合格投资者公开发行股票的批复》（证监许可[2020]1332 号）核准，公司于 2020 年 7 月向不特定合格投资者公开发行人民币普通股 10,423,000 股，发行价为 18.86 元/股，募集资金总额为人民币 196,577,780.00 元，扣除与发行有关的费 用（不含税）人民币 17,609,434.06 元后，募集资金净额为人民币 178,968,345.94 元。 该次募集资金到账时间为 2020 年 7 月 17 日，本次募集资金到位情况已经天 职国际会计师事务所（特殊普通合伙）审验，并于 2020 年 7 月 17 日出具天职业 字[2020]32741 号验资报告。 二、募集资金存放和管理情况 | 开户银行 | ...