国浩律师（南京）事务所 法律 意见书 国浩律师（南京）事务所 关 于 南京熊猫电子股份有限公司 之 法律意见书 中国江苏省南京市汉中门大街 309 号 B 座 5、7-8 层（210036） 电话/Tel: +86-25-89660900 传真/Fax: + 86-25-89660966 网址/Website:http://www.grandall.com.cn 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》"）和中国证券监督管理委员会《上市公司 股东大会规则》（以下简称"《股东大会规则》"）的规定，国浩律师（南京）事 务所（以下简称"本所"）接受南京熊猫电子股份有限公司（以下简称"公司"）董 事会的聘请，指派景忠律师、杨菲律师出席并见证了公司于 2025 年 6 月 20 日在 南京市经天路 7 号公司会议室召开的 2024 年年度股东大会，并依据有关法律法 规以及《公司章程》的规定，对本次股东大会的召集、召开程序、出席人员资格、 召集人资格、大会表决程序等事宜进行了审查，现发表法律意见如下： 一、本次股东大会的召集、召开程序 公司于 2025 年 ...

2024 年年度股东大会 国浩律师（南京）事务所 法律意见书 国浩律师（南京）事务所 关 于 南京熊猫电子股份有限公司 之 法律意见书 中国江苏省南京市汉中门大街 309 号 B 座 5、7-8 层（210036） 5、7-8/F, Block B, 309 Hanzhongmen Dajie, Nanjing, China, 210036 电话/Tel: +86-25-89660900 传真/Fax: + 86-25-89660966 网址/Website:http://www.grandall.com.cn 2025 年 6 月 国浩律师（南京）事务所 法律意见书 国浩律师（南京）事务所 关于南京熊猫电子股份有限公司 2024 年年度股东大会之法律意见书 致：南京熊猫电子股份有限公司 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》"）和中国证券监督管理委员会《上市公司 股东大会规则》（以下简称"《股东大会规则》"）的规定，国浩律师（南京）事 务所（以下简称"本所"）接受南京熊猫电子股份有限公司（以下简称"公司"）董 事会的聘请，指派景忠律师、杨菲律 ...

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 重要内容提示： 本次会议是否有否决议案：无 证券代码：600775 证券简称：南京熊猫 公告编号：2025-017 南京熊猫电子股份有限公司 2024年年度股东大会决议公告 一、 会议召开和出席情况 (一)股东大会召开的时间：2025 年 6 月 20 日 (二)股东大会召开的地点：南京市经天路 7 号公司会议室 (三)出席会议的普通股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 647 | | --- | --- | | 其中：A 股股东人数 | 646 | | 境外上市外资股股东人数（H 股） | 1 | | 2、出席会议的股东所持有表决权的股份总数（股） | 255,138,941 | | 其中：A 股股东持有股份总数 | 241,370,941 | | 境外上市外资股股东持有股份总数（H 股） | 13,768,000 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | 27.92 | | 份总数的比例（%） | | | 其中：A 股股东持 ...

Group 1 - Key Point 1: 基石药业-B (02616) rose over 5% after its drug for lung cancer,舒格利单抗, received long-term survival data recognition in The Lancet Oncology, reinforcing its position as a first-line treatment in Europe [2] - Key Point 2: 海昌海洋公园 (02255) increased by over 4% as a major shareholder, 祥源控股, is set to acquire a 38.6% stake for HKD 22.95 billion, potentially alleviating liquidity pressures [2] - Key Point 3: 冠忠巴士 (00306) surged 27% with a projected 143% increase in annual pre-tax profit to HKD 165 million, driven by revenue growth, reduced fuel costs, and autonomous driving licenses [2] Group 2 - Key Point 1: 东方表行 (00398) fell over 5% due to a 5.2% decline in revenue and a 20% drop in net profit, attributed to weak luxury goods demand amid geopolitical conflicts and interest rate fluctuations [2] - Key Point 2: 北森控股 (09669) plummeted over 17% as its adjusted annual EBITDA was only HKD 28.9 million, with Everbright Securities lowering revenue forecasts by 10%-15% due to growth challenges [3] - Key Point 3: 顺丰控股 (06936) rose over 6% to a new high, with May express delivery revenue increasing by 13.4%, and the scaling of unmanned delivery vehicles potentially opening up future profit opportunities [3] Group 3 - Key Point 1: 中国中免 (01880) increased by over 5% as it accelerates the expansion of its duty-free stores, with 4 already opened and 9 more in preparation, benefiting from favorable policies [3] - Key Point 2: 华虹半导体 (01347) rose over 7% with a capacity utilization rate of 102.7%, and Tianfeng Securities optimistic about future contributions of USD 1.28 billion from its 9th factory [3] - Key Point 3: 网龙 (00777) increased over 3% after showcasing AI digital human presentation technology at a UN conference, launching the "EDA Education Metaverse" strategy, which catalyzed a revaluation of AI [4]

Group 1: Regulatory and Industry News - The Financial Regulatory Bureau has issued a notice to the industry stating that the dividend levels of participating insurance must not engage in "involutionary" competition [3] - In the photovoltaic sector, a "production reduction order" is expected to be upgraded in the third quarter, with a 10% decrease in operating rates and low-price sales subject to audit [3] - A video conference was held by three departments to strengthen the safety management of new energy vehicles, emphasizing not to engage in "involutionary" competition and not to sacrifice product performance or quality for short-term cost reduction [3] Group 2: Company-Specific News - The Shenzhen Stock Exchange has included Heng Rui Pharmaceutical in the list of eligible securities for Hong Kong Stock Connect [3] - Sanhua Intelligent Control has set the offering price for its H-shares at HKD 22.53 per share [3] - Feifan Lingyue has acquired a total of 18.09 million shares of Li Ning [3] - Jin Jing New Energy has officially launched a global lithium battery recycling network platform in collaboration with Yiwei Lithium Energy [3] - Nanjing Panda Electronics is selling its ENC equity to optimize its asset structure [3] - HYPEBEAST reported an annual loss of HKD 21.031 million, transitioning from profit to loss year-on-year [3] - NIO is speculated to be seeking strategic investors for its chip business, although this remains unconfirmed [3] - OK Blockchain Chain expects its annual loss attributable to shareholders to be no more than HKD 20 million, narrowing year-on-year [3] - Huadian International Power has received approval from the China Securities Regulatory Commission for the registration of its infrastructure REIT [3] - Xunhe Group anticipates an annual net loss of approximately HKD 4 million to HKD 7 million, transitioning from profit to loss year-on-year [3] - Shandong Xinhua Pharmaceutical has completed the Phase II clinical trial for OAB-14, a treatment for mild to moderate Alzheimer's disease, with the first patient enrolled in China [3]

Summary of Key Points Core Viewpoint - Nanjing Panda Electronics Co., Ltd. plans to publicly transfer 27% of its stake in the subsidiary Nanjing Ericsson Panda Communication Co., Ltd. (ENC) through the Shanghai United Assets and Equity Exchange, with a total valuation of the equity held by all shareholders at approximately RMB 105.41 million as of December 31, 2024 [2][3][8]. Group 1: Transaction Overview - The company intends to transfer its 27% stake in ENC, which will be combined with the stakes held by other Chinese shareholders, totaling 49% of ENC [2][4]. - The initial transfer price for the 49% stake is set at RMB 51.65 million, with the company's corresponding stake valued at RMB 28.46 million [3][6]. - If no interested buyers are found during the disclosure period, the transfer price may be reduced to a minimum of 90% of the initial price, resulting in a new price of RMB 46.49 million for the 49% stake [3][6]. Group 2: Financial Information - The total assets of ENC as of the latest unaudited report are RMB 265.63 million, with total liabilities of RMB 163.51 million, resulting in a net asset value of RMB 102.12 million [7][8]. - The revenue for ENC in the most recent period was RMB 337.61 million, with a net profit after deducting non-recurring gains and losses [8]. Group 3: Valuation and Pricing - The valuation of ENC was conducted by Beijing Zhongtianhua Asset Appraisal Co., Ltd., which determined the total equity value at RMB 105.41 million as of December 31, 2024 [8][12]. - The valuation methods used include the income approach and market approach, with the market approach deemed more reflective of the equity's value due to the nature of the transaction [12][13]. - The pricing for the transfer adheres to national asset supervision regulations, ensuring fairness and objectivity in the valuation process [15]. Group 4: Transaction Process - The transaction will be conducted through a public bidding process, with the final buyer and transaction price determined based on the results of the bidding [16][17]. - The company will follow the necessary approval procedures and disclose relevant information as required by regulations [17]. Group 5: Impact on the Company - The completion of this equity transfer is expected to have a positive impact on the company's financials, with the actual amount to be confirmed post-transaction [18].

南京熊猫电子股份有限公司拟处置股权 所涉及的南京爱立信熊猫通信有限公司 股东全部权益价值 信值报告 中天华咨报字[2025]第2142号 (共一册, 第一册) 北京中i 责任公司 l 南京熊猫电子股份有限公司拟处置股权所涉及的 南京爱立信熊猫通信有限公司股东全部权益价值估值报告 目录 | 声 | 明 .. | | --- | --- | | 估值报告摘要 | | | 估值报告 | | | 一、 委托人、被估值单位和估值业务委托合同约定的其他估值报告使用人概况….6 | | | 二、 | 估值目的…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………… 11 | | 估值对象和估值范围 …………………………………………………………………………………………………………………………………………… 12 | | | 价值类型 ……………………………………………………………………………………………………………………………………………………………………………………………………… ...

证券代码：600775 证券简称：南京熊猫 公告编号：临 2025-016 南京熊猫电子股份有限公司 关于公开挂牌转让参股公司股权的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 重要内容提示： 一、交易概述 （一）本次交易的基本情况 南京熊猫电子股份有限公司（以下简称"公司"）拟通过上海联合产权交易 所有限公司（以下简称"上海联合产权交易所"）公开挂牌转让所持有的参股公 司南京爱立信熊猫通信有限公司（以下简称"ENC"）27%的股权（以下简称"标 的股权"）。本次转让的标的股权将与中电科资产经营有限公司持有的 ENC20% 的股权、香港永兴企业公司持有的 ENC2%的股权一并公开挂牌。公司、中电科 1 公司拟通过上海联合产权交易所公开挂牌转让所持有的参股公司 ENC27% 的股权。本次转让的标的股权将与其他 ENC 中方股东持有的 ENC22%的股 权一并公开挂牌。根据有关《估值报告》，确定前述 ENC49%的股权公开挂 牌转让底价为人民币 51,650.85 万元，公司所持标的股权对应价值为人民币 28,460.67 ...

Core Insights - The brain-computer interface (BCI) industry is experiencing explosive growth driven by policy incentives, technological innovations, and increased capital investment [1][2][3] Policy Framework Development - 2025 is identified as a critical year for the establishment of a comprehensive policy framework for the BCI industry, including national standards and regional industrial planning [2] - Beijing and Shanghai are leading the way with specific action plans aimed at fostering BCI innovation and development [2][3] - The establishment of a standardization technical committee by the Ministry of Industry and Information Technology will promote the standardized development of BCI technology [3] Technological Innovations - Recent advancements in multi-disciplinary technology integration have significantly propelled BCI development, transitioning from "signal acquisition" to "bidirectional interaction" [4][5] - Breakthroughs in deep learning algorithms and hardware technologies are enhancing the efficiency of brain signal decoding and reducing risks associated with invasive procedures [4][5] Industry Progression - The dual benefits of favorable policies and technological advancements are attracting significant capital investment, with companies like Sanbo Brain Hospital Management Group and Beijing Chengyitong Control Technology Group actively engaging in BCI development [6][7] - Companies are focusing on both invasive and non-invasive BCI technologies, with notable advancements in clinical applications for conditions like epilepsy and Parkinson's disease [6][7] Market Potential - The BCI market in China is projected to reach 3.2 billion yuan in 2024, with expectations to exceed 5.5 billion yuan by 2027 [8] - The global BCI medical application market is forecasted to reach between 40 billion to 145 billion USD from 2030 to 2040, indicating substantial market potential [8][9] Challenges Ahead - Despite the promising outlook, the BCI industry faces challenges such as medical ethics review, clinical validation, and the need for unified industry standards [9]

Group 1 - Nanjing Panda Electronics saw a significant surge, with its stock price increasing by 56.25% at one point, ultimately closing at 5.30 HKD per share, a rise of 38.02% [11][15] - Other companies in the brain-computer interface sector also experienced gains, with Brainhole Technology rising by 22.65% and Micron Brain Science increasing by 18.47% [14][15] - The global brain-computer interface market is projected to reach 3.3 billion USD by 2027, with a compound annual growth rate of approximately 13.5% [16] Group 2 - Chow Tai Fook's stock dropped by 7.29% after announcing plans to issue 8.8 billion HKD in convertible bonds, raising concerns about equity dilution [4][22] - The issuance is intended to fund the development of gold jewelry business, store upgrades, and general working capital [21][22] - The Hong Kong gold and jewelry sector index fell by 6.69%, with other companies like King Fook Group and Lao Pu Gold also experiencing declines [24]