湖北得伟君尚律师事务所 关于烽火通信科技股份有限公司 2025 年第二次临时股东大会的 法律意见书 湖北得伟君尚律师事务所 DEWELL & PARTNERS 中国武汉中国湖北省武汉市江汉区建设大道 588 号 卓尔国际中心 20-21 楼 湖北得伟君尚律师事务所 关于烽火通信科技股份有限公司 2025 年第二次临时股东大会的法律意见书 （2025）得伟君尚字第 14009 号 为出具本法律意见书，本律师对本次股东大会所涉及的有关事项进行了审查， 查阅了相关会议文件，并对有关问题进行了必要的核查和验证。本律师同意将本 法律意见书随贵公司本次股东大会决议一并公告，并依法对本法律意见书承担相 应的责任。 在本法律意见书中，本所律师仅对本次股东大会的召集人资格和召集、召开 程序、出席会议人员资格、表决程序和表决结果是否符合相关法律、法规、规范 性文件及《公司章程》的规定发表意见，不对会议审议的议案内容以及这些议案 所表述的事实或数据的真实性及准确性发表意见。 本律师根据相关法律、法规和规范性文件的要求，按照律师行业公认的业务 标准、道德规范和勤勉尽责精神，出具法律意见如下： 一、关于本次股东大会的召集、召开程序 1 ...

证券代码：600498 证券简称：烽火通信 公告编号：2025-066 转债代码：110062 转债简称：烽火转债 烽火通信科技股份有限公司 第九届董事会第九次临时会议决议公告 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个别及连带责任。 烽火通信科技股份有限公司（以下简称"公司"）第九届董事会第九次临时会议，于2025年11月11日以通 讯方式召开。本次会议的会议通知以书面方式发送至董事会全体董事。会议应参加董事十一人，实际参 加董事十一人，符合《公司法》和《公司章程》的规定，会议合法有效。 本次会议经审议通过了以下决议： 证券代码：600498 证券简称：烽火通信 公告编号：2025-067 转债代码：110062 转债简称：烽火转债 烽火通信科技股份有限公司 第九届监事会第五次临时会议决议公告 本公司监事会及全体监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个别及连带责任。 以9票同意、0票反对、0票弃权，审议通过《关于公司2021年限制性股票激励计划第三个解锁期解锁的 议 ...

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、准确性和完整性依法承担法律责任。 重要内容提示： 本次股票上市类型为股权激励股份；股票认购方式为网下，上市股数为 17,251,566股。 本次股票上市流通总数为17,251,566股。 本次股票上市流通日期为2025 年 11 月 21 日。 烽火通信科技股份有限公司（以下简称"烽火通信"或"公司"）第九届董事 会第九次临时会议和第九届监事会第五次临时会议审议通过了《关于公司 2021 年 限制性股票激励计划第三个解锁期解锁的议案》，公司 2021 年限制性股票激励计 划第三期的解除限售条件已达成。本次可解除限售的激励对象人数为 1,586 人，可 解除限售的限制性股票数量为 17,251,566 股，占目前公司总股本的 1.34%。现就有 关事项公告如下： 一、2021 年限制性股票激励计划批准及实施情况 1、2021 年 7 月 25 日，公司召开第八届董事会第五次临时会议，审议通过了 《烽火通信科技股份有限公司 2021 年限制性股票激励计划（草案）》等相关议案 （以下简称"本次股权激励计划"、"《2 ...

湖北得伟君尚律师事务所关于 烽火通信科技股份有限公司 2021年限制性股票激励计划第三个解锁期解锁事 项的法律意见书 湖北得伟君尚律师事务所 二〇二五年 湖北得伟君尚律师事务所关于 烽火通信科技股份有限公司 2021年限制性股票激励计划第三个解锁期解锁事项的 法律意见书 （2025）得伟君尚字第 14007 号 致：烽火通信科技股份有限公司 根据湖北得伟君尚律师事务所（以下简称"本所"）与烽火通信科 技股份有限公司（以下简称"烽火通信"或"公司"）签署的《专项法律 服务合同》，本所担任公司《烽火通信科技股份有限公司2021年限制 性股票激励计划（草案）》（以下简称"2021年限制性股票激励计划" "激励计划"）的专项法律顾问。 本所根据《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》"）、《上市公 司股权激励管理办法》（以下简称"《管理办法》"）等有关法律、 行政法规、规范性文件及《烽火通信科技股份有限公司章程》（以下 简称"《公司章程》"）的有关规定，就公司2021年限制性股票激励 计划第三个解锁期解锁事项出具本法律意见书。 对本所出具的本法律意见书，本所 ...

烽火通信科技股份有限公司（以下简称"公司"）第九届监事会第五次临时 会议，于 2025 年 11 月 11 日以通讯方式召开。本次会议的会议通知于 2025 年 11 月 6 日以书面方式发送至监事会全体监事。会议应参加监事七名，实际参加 监事七名，符合《公司法》和《公司章程》的规定，会议合法有效。会议经过审 议，通过了以下决议： 烽火通信科技股份有限公司 第九届监事会第五次临时会议决议公告 本公司监事会及全体监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个别及连带责任。 证券代码：600498 证券简称：烽火通信 公告编号：2025-067 转债代码：110062 转债简称：烽火转债 特此公告。 烽火通信科技股份有限公司 监事会 2025 年 11 月 13 日 以 7 票同意、0 票反对、0 票弃权，审议通过了《关于公司 2021 年限制性 股票激励计划第三个解锁期解锁的议案》，认为： 根据公司《2021 年限制性股票激励计划（草案）》的相关规定，公司 2021 年限制性股票激励计划第三个解锁期解锁条件已达成，同意激励计划涉及的 1,586 名激励对 ...

转债代码：110062 转债简称：烽火转债 烽火通信科技股份有限公司 第九届董事会第九次临时会议决议公告 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个别及连带责任。 烽火通信科技股份有限公司（以下简称"公司"）第九届董事会第九次临时 会议，于 2025 年 11 月 11 日以通讯方式召开。本次会议的会议通知以书面方式 发送至董事会全体董事。会议应参加董事十一人，实际参加董事十一人，符合《公 司法》和《公司章程》的规定，会议合法有效。 本次会议经审议通过了以下决议： 以 9 票同意、0 票反对、0 票弃权，审议通过《关于公司 2021 年限制性股票 激励计划第三个解锁期解锁的议案》：根据公司《2021 年限制性股票激励计划（草 案）》的相关规定，公司 2021 年限制性股票激励计划第三个解锁期解锁条件已达 成，同意激励计划涉及的 1,586 名激励对象的限制性股票按规定进行第三次解锁， 其可解锁限制性股票共计 17,251,566 股。具体内容详见同日刊载于上海证券交易 所网站（www.sse.com.cn）及《中国证券报》《上海证 ...

Investment Rating - The industry investment rating is "Positive" and maintained [10] Core Insights - The report highlights that with the continuous development of AI, its enormous power consumption on the ground may lead to space data centers becoming a viable solution. Notable advancements include Nvidia's deployment of H100 GPUs in space and Elon Musk's plans to expand the Starlink V3 satellite scale, aiming for an annual deployment of 100GW of data centers within 4-5 years. Google has also initiated the "Sun Catcher Project," planning to launch prototype satellites equipped with Trillium TPU by early 2027, suggesting that space may become the optimal location for scaling AI computing [2][6] Summary by Sections Event Description - In November 2025, Nvidia sent its H100 GPU into space. Elon Musk announced plans to expand Starlink V3 and build space data centers, targeting 100GW of deployment annually within 4-5 years. Google plans to launch two prototype satellites in early 2027 to deploy AI computing directly in space [2][6] Event Commentary - The satellite industry faces high networking costs and challenges in commercial viability. Solutions include reducing manufacturing and launch costs and improving constellation efficiency. The report suggests focusing on companies generating revenue from 2023-2025, such as Canqin Technology, which may benefit from the explosive growth in capital expenditures from downstream operators. In the application explosion phase, attention should be on core operators and manufacturers with mass production capabilities in chip and basic components, recommending Haige Communication. Additionally, Fenghuo Communication is expanding into new industries, which may become a significant growth direction [8] Technological Advancements - Space data centers can leverage the unique environment of space, achieving zero energy consumption for cooling due to near -270°C temperatures and high solar power efficiency of 95%. Low Earth orbit satellite networks can provide high-speed access to 3 billion unconnected people. The report notes that advancements in reusable rocket technology are rapidly addressing cost challenges, with SpaceX reducing launch costs to around $1,000 per kilogram [8]

Investment Rating - The industry investment rating is "Recommended," indicating an expected increase in the industry index by more than 5% over the next 3-6 months compared to the benchmark index [21]. Core Insights - The rapid development of space AI is expected to create new business opportunities in space-based intelligence, with significant advancements from companies like SpaceX and NVIDIA [2][9]. - SpaceX plans to enhance its Starlink V3 satellite scale and establish a space data center, which could alleviate AI computing resource bottlenecks [9]. - NVIDIA's H100 GPU has been successfully sent to space, aiming to test its operational feasibility in orbit and enhance in-space computing capabilities [9]. - China's space computing constellation is accelerating, with plans to deploy over 50 computing satellites by 2025, enhancing data processing efficiency [9]. Company Financial Forecasts and Valuation - Key companies in the industry and their financial metrics are as follows: - Unisoc: Market Cap 67.27 billion, EPS 1.4 (2024A), PE 57.0 (2024A), PS 12.3 (2024A) [5]. - China Satellite: Market Cap 52.62 billion, EPS 0.0 (2024A), PE 1885.1 (2024A), PS 10.2 (2024A) [5]. - LightSpeed Technology: Market Cap 49.61 billion, EPS 0.8 (2024A), PE 75.0 (2024A), PS 6.0 (2024A) [5]. - Other companies include Softcom Power, Zhongke Star Map, and others with varying market caps and financial metrics [5]. Industry Basic Data - The computer industry consists of 337 listed companies with a total market capitalization of 61,235.75 billion and a circulating market capitalization of 55,346.10 billion [6]. Relative Index Performance - The absolute performance of the industry over the past 1 month is -3.1%, while the 6-month and 12-month performances are 24.7% and 22.6%, respectively [7]. - The relative performance compared to the benchmark shows a decline of -3.9% over 1 month, with increases of 2.6% and 9.7% over 6 months and 12 months [7].

Core Viewpoint - On November 10, a total of 10 listed companies will have their restricted shares unlocked, with a total market value of approximately 9.248 billion yuan [1] Summary by Category Restricted Share Unlocking - The companies involved in the unlocking of restricted shares include: - Antai Technology (Stock Code: 000969) with 488,400 shares from equity incentive restrictions - Fenghuo Communication (Stock Code: 600498) with 18.4 million shares from equity incentive restrictions - Supor (Stock Code: 002032) with 604,000 shares from equity incentive restrictions - Shapuaisi (Stock Code: 603168) with 49.9215 million shares from A-share issuance to legal person placement - Zhujiang Piano (Stock Code: 002678) with 152,700 shares from equity incentive restrictions - Chuangli Group (Stock Code: 603012) with 32,400 shares from equity incentive restrictions - Xianle Health (Stock Code: 300791) with 31,950 shares from equity incentive restrictions - Southeast Electronics (Stock Code: 301359) with 57.9959 million shares from pre-issue share restrictions - Lihang Technology (Stock Code: 603261) with 40,740 shares from equity incentive restrictions - Youyan Silicon (Stock Code: 688432) with 740 million shares [1]

Core Insights - The "2025 Super Node Data Center Industry Summit and High-Density Data Center Developer Forum" will be held from November 26-28 in Hangzhou, Zhejiang, focusing on topics such as super node data center architecture design, interconnection technology, optical module packaging trends, liquid cooling technology, and high thermal conductivity materials [2] - The forum is expected to attract over 500 industry experts and 40+ speakers from major companies including Nvidia, Huawei, Alibaba Cloud, and China Mobile [2] Group 1: Forum Overview - The event will feature one main conference and two specialized sessions for in-depth discussions [2] - Key topics include innovations in AI chip interconnection protocols and the evolution of super node optical interconnection [3][4] Group 2: Technical Presentations - Presentations will cover high-speed optical interconnection systems for AI clusters and the opportunities and challenges of hollow-core optical fibers in data centers [4][5] - Discussions will also focus on thermal management materials for optical modules and the application of graphene in thermal management [4][5] Group 3: Schedule Highlights - The first day will include keynotes on super node data centers and liquid cooling acceleration plans by Intel [9][10] - The second day will address optical module development and thermal management technologies [11][12] Group 4: Participation and Sponsorship - Various participation formats are available, including theme reports and sponsorship opportunities [16][19] - Registration for the event is priced at 2500 per participant [16]