股东大会法律意见书 安徽天禾律师事务所 关于安徽建工集团股份有限公司 2023 年年度股东大会的法律意见书 天律意 2024 第 01167 号 致：安徽建工集团股份有限公司 依据《证券法》《公司法》《上市公司股东大会规则》和《安徽建工集团 股份有限公司章程》（以下简称"《公司章程》"）的有关规定，安徽天禾律 师事务所（以下简称"本所"）接受安徽建工集团股份有限公司（以下简称 "安徽建工"或"公司"）的委托，指派汪明月、尹颂两位律师（以下简称 "本所律师"）就公司于 2024 年 5 月 17 日召开的安徽建工 2023 年年度股东大 会（以下简称"本次股东大会"）出具法律意见书。 本所律师按照律师行业公认的业务标准、道德规范和勤勉尽责精神，参与 了本次股东大会并对公司提供的有关文件和事实进行了核查和验证，现出具法 律意见如下： 一、本次股东大会的召集程序 本次股东大会由公司董事会召集。公司于 2024 年 4 月 26 日分别在上海证 券交易所外部网站、《上海证券报》《证券日报》《中国证券报》《证券时 报》上刊登了《安徽建工集团股份有限公司第八届董事会第四十一次会议决议 公告》《安徽建工集团股份有限公司关于 ...

一、对外投资概述 为增强融资能力，降低融资成本，促进公司转型发展，公司拟调整投资业务管理 机制，设立安徽建工集团投资发展有限公司（暂定名），作为公司投资业务实施平 台，授权开展投资项目的投融资、建设、运营等。本次拟设立的安徽建工集团投资发 展有限公司注册资本为 60 亿元，公司以所持工程投资类项目公司的股东权益评估作价 出资，不足部分公司以现金补足。 证券代码： 600502 证 券 简 称 ： 安 徽 建 工 编号： 2024-029 安徽建工集团股份有限公司 关于设立安徽建工集团投资发展有限公司的公告 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： 投资标的名称：安徽建工集团投资发展有限公司（暂定名） 投资金额：60 亿元 2024 年 5 月 17 日，公司召开第八届董事会第四十二次会议审议通过了《关于设立 安徽建工集团投资发展有限公司的议案》。该事项不属于关联交易，亦不构成《上市 公司重大资产重组管理办法》规定的重大资产重组，无须经过股东大会审议通过和有 关部门批准。 二、投资标的基本情况 1.企业名称 ...

证券代码： 600502 证 券 简 称 ： 安 徽 建 工 编号： 2024-0 30 关于设立安徽相元股权投资基金合伙企业（有限合伙） 暨关联交易的公告 安徽建工集团股份有限公司 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： 本公司拟与安徽建工资本管理有限公司（以下简称"安建资本"）、安徽国元信 托有限责任公司（以下简称"国元信托"）发起设立"安徽相元股权投资基金合伙企业 （有限合伙）"（暂定名），其中本公司作为有限合伙人（LP1）认缴56,000万元（占比 49.955%），国元信托作为有限合伙人（LP2）认缴56,000万元（占比49.955%），安建资 本作为普通合伙人（GP）认缴100万元（占比0.09%）。 因安建资本是安建商业保理有限公司（以下简称"安建保理"）的全资子公 司，同时安建保理是本公司控股股东安徽建工集团控股有限公司（以下简称"建工控 股"）的全资子公司，故根据《上海证券交易所股票上市规则》第6.3.3条的相关规 定，安建资本为公司的关联人，本次交易构成关联交易。本次交易不构成《上 ...

证券代码：600502 证券简称：安徽建工 公告编号：2024-027 安徽建工集团股份有限公司 2023 年年度股东大会决议公告 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法律责任。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (三) 出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： (一) 股东大会召开的时间：2024 年 05 月 17 日 (二) 股东大会召开的地点：合肥市黄山路 459 号安建国际大厦公司会议室 1、 公司在任董事 6 人，出席 5 人，董事王淑德先生因工作原因未能出席； 2、 公司在任监事 5 人，出席 5 人； 3、 公司董事会秘书、财务总监徐亮先生出席会议，副总经理吴红星先生、副总 经理邢应梅女士及安徽天禾律师事务所汪明月律师和尹颂律师列席会议。 二、 议案审议情况 (一) 非累积投票议案 1、 议案名称：《2023 年年度报告》全文及摘要 审议结果：通过 | 1、出席会议的股东和代理人人数 | | 19 | | --- | --- | --- | | 2、出席 ...

二、董事会会议审议情况 经与会董事书面表决，会议形成如下决议： 安徽建工集团股份有限公司 第八届董事会第四十二次会议决议公告 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法律责任。 一、董事会会议召开情况 证券代码：600502 证 券 简 称 ：安 徽 建 工 编 号 ：2024-028 安徽建工集团股份有限公司第八届董事会第四十二次会议于 2024 年 5 月 17 日上午 在合肥市安建国际大厦公司会议室以现场结合通讯方式召开。会议应出席董事 6 人，实 际出席董事 6 人，其中董事王淑德先生以通讯方式参加。公司全体监事和部分高管列席 了会议。会议由公司董事长杨善斌先生主持。本次会议的召开符合《公司法》和《公司 章程》的规定。 （一）审议通过了《关于设立安徽建工集团投资发展有限公司的议案》。同意本公 司以所持有工程投资类项目公司股东权益作价出资60亿元（不足部分公司以现金补足）， 设立安徽建工集团投资发展有限公司(暂定名），作为公司投资业务实施平台，经授权 开展投资项目的投融资、建设、运营管理等。 具体内容详见《安徽建工关于设立安 ...

Investment Rating - The report assigns a "Buy" rating to the company, with a target market capitalization of approximately 11.2 billion yuan, representing a 29% upside potential [51][24] Core Views - The company, as a leading construction enterprise in Anhui Province, benefits from regional development红利 and is expected to see improved cash flow as PPP projects enter the operational phase [51][24] - The company's investment and operation segment is maturing, which is expected to extend the company's operational duration and improve cash flow [6][24] - Emerging businesses, such as prefabricated construction and testing services, are expected to become new growth drivers, contributing significantly to the company's profit [10][24] Financial Performance - The company's revenue for 2023 was 91.244 billion yuan, a year-on-year increase of 13.9%, with a net profit attributable to shareholders of 1.553 billion yuan, up 12.6% year-on-year [63][64] - The company's revenue CAGR for 2021-2023 was 17.0%, and its net profit CAGR was 23.9% [63] - The company's gross profit margin in 2023 was 12.44%, an increase of 0.77 percentage points year-on-year [73] Business Segments - The company's infrastructure construction and investment business generated revenue of 39.6 billion yuan in 2023, a year-on-year increase of 8.14% [64] - The company's building construction business achieved revenue of 32 billion yuan in 2023, a year-on-year increase of 27.24% [64] - Emerging businesses, including prefabricated construction and testing services, accounted for 13.6% of the company's revenue and 33.4% of its gross profit in 2023 [10] Regional Development and Opportunities - Anhui Province, as a key part of the Yangtze River Delta integration strategy, offers significant growth potential for the company [47][48] - The company's engineering revenue in Anhui Province in 2023 was approximately 60.8 billion yuan, accounting for 1.33% of the province's fixed asset investment completion [4] - The company's building construction revenue in Anhui Province accounted for 5.83% of the province's real estate development investment completion in 2023 [4] Investment and Operation Segment - The company has 56 PPP projects in hand, with 40 already in the operational phase, and a total investment of 65.9 billion yuan, of which 51.3 billion yuan has been completed [6] - The company has won 6特许经营 projects since 2022, including 4 highway projects, which are expected to extend the company's operational duration [6][9] Emerging Businesses - The company's prefabricated construction business signed new contracts worth 2.078 billion yuan in 2023, a year-on-year increase of 23.5% [12] - The company's testing business signed new contracts worth 830 million yuan in 2023, a year-on-year increase of 33.8% [12] Profit Forecast - The company's revenue is expected to grow at a CAGR of 9.4% from 2024 to 2026, with revenues of 100.6 billion yuan, 110.4 billion yuan, and 119.5 billion yuan respectively [18][20] - The company's net profit attributable to shareholders is expected to grow at a CAGR of 10.2% from 2024 to 2026, reaching 1.728 billion yuan, 1.905 billion yuan, and 2.081 billion yuan respectively [27]

Investment Rating - The investment rating for the company is "Buy" and is maintained [6][8]. Core Views - The company achieved a revenue of 13.538 billion yuan in the first quarter, a year-on-year decrease of 16.25%. The net profit attributable to shareholders was 310 million yuan, down 10.75% year-on-year, while the net profit after deducting non-recurring gains and losses was 284 million yuan, a decrease of 23.52% year-on-year [6][8]. - The decline in revenue is attributed to factors such as the timing of the Spring Festival and delayed construction starts. In Anhui Province, fixed asset investment growth in the first quarter was 6.3%, a decrease of 1.6 percentage points compared to 2023, with infrastructure investment growing by 10.3%, down 9.6 percentage points year-on-year [6][8]. - The company signed 551 new contracts in 2023, with a total contract value of 151.07 billion yuan, representing a year-on-year increase of 13.81%. In the first quarter, new engineering contracts totaled 38.979 billion yuan, up 1.37% year-on-year. The order structure continues to optimize, with infrastructure business accounting for 66.97% [7][8]. - The company is expected to benefit from policies related to water conservancy and state-owned enterprise reforms, with projected net profits for 2024-2026 being 1.747 billion, 2.065 billion, and 2.356 billion yuan, respectively, corresponding to PE ratios of 4.66, 3.94, and 3.45 [8]. Summary by Sections Financial Performance - In the first quarter, the comprehensive gross profit margin was 12.98%, an increase of 2.14 percentage points year-on-year. The expense ratio rose significantly, with the total expense ratio at 9.47%, up 2.34 percentage points year-on-year [14]. - The operating cash flow showed a net outflow of 3.201 billion yuan, which is an increase in outflow of 1.636 billion yuan year-on-year, with a collection ratio of 156.41%, up 11.60 percentage points year-on-year [15]. Order Growth and Structure - The company experienced a double-digit growth in orders in 2023, with a significant increase in water conservancy orders, which saw a year-on-year growth of 888.05%. The proportion of industrial park projects in housing orders was 48.77%, while projects like schools and hospitals accounted for 51.23% [7][8]. Future Outlook - The company is well-positioned to benefit from the implementation of government policies aimed at stabilizing growth and increasing investment in water conservancy. The anticipated net profit growth reflects a positive outlook for the company's performance in the coming years [8].

安徽建工集团股份有限公司 2023 年年度股东大会会议资料 2024 年 5 月 17 日 安徽建工集团股份有限公司 2023 年年度股东大会会议资料 目 录 | 2023 年年度股东大会会议议程 | | I | | --- | --- | --- | | 2023 年年度股东大会注意事项 | | II | | 议案一、《2023 | 年年度报告》全文及摘要 | 1 | | 议案二、2023 | 年度董事会工作报告 | 2 | | 议案三、2023 | 年度监事会工作报告 | 10 | | 议案四、2023 | 年度公司财务决算及2024 年度财务预算报告 | 14 | | 议案五、2023 | 年度利润分配及资本公积金转增股本方案 | 17 | | 议案六、2023 | 年度独立董事述职报告 | 19 | | 议案七、关于2024 | 年度投资计划额度的议案 | 44 | | 议案八、关于2024 | 年度综合授信额度的议案 | 45 | | 议案九、关于2024 | 年度为子公司提供担保额度的议案 | 46 | | 议案十、关于预计2024 | 年度日常关联交易的议案 | 55 | | 议案十一、关于修订 ...

证券代码： 600502 证 券 简 称 ： 安 徽 建 工 编号： 2024-026 安徽建工集团股份有限公司 关于项目中标的公告 项目概况：该项目位于合肥市经开区，项目建设内容包括研发及展示中心、停车楼、 测试车间、地下车库、固废站、门卫、室外道排等。 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。 近日，本公司及本公司所属子公司安徽建工三建集团有限公司、安徽省公路桥梁工 程有限公司收到项目中标通知书。具体情况公告如下： 一、合肥经开区临湖智能制造产业园及基础设施配套项目施工总承包 中标人：安徽建工集团股份有限公司（牵头人）与安徽建工三建集团有限公司联合 体 项目概况：该项目位于合肥市经开区，项目建设内容包括生产车间、站房、库房、 技术中心、食堂、职工停车楼、安保中心、在线监测室、主门卫、大门、桥梁、室外附 属工程。 中标价：29.09 亿元 工期：480 日历天 二、合肥经开区云海路产业园及基础设施配套项目施工总承包 中标人：安徽建工三建集团有限公司 中标价：10.95 亿元 工期：1100 日历天 三、G105 龙南里 ...

Investment Rating - The report maintains a "Buy - A" rating for the company with a target price of 6.99 CNY, corresponding to a dynamic PE of 7 times for 2024 [17][6][15]. Core Views - The company's revenue performance is under short-term pressure but is expected to maintain steady growth for the year. In Q1 2024, the company achieved operating revenue of 13.538 billion CNY, a year-on-year decrease of 16.25%, and a net profit attributable to shareholders of 310 million CNY, down 10.75% year-on-year. The decline is attributed to increased rain and snow, insufficient resumption of work after the Spring Festival, and delays in project commencement [1][15]. - The company continues to optimize its order structure, with significant potential in emerging businesses. In Q1 2024, the company signed new engineering contracts totaling 38.979 billion CNY, a year-on-year increase of 1.37%. The infrastructure and construction sectors accounted for 66.97% and 33.03% of total orders, respectively [2][15]. - The company is focusing on high-quality orders in its construction business, with water conservancy engineering contracts showing remarkable performance, achieving a new contract amount of 6.037 billion CNY, a year-on-year increase of 888.05% [2][15]. Financial Performance Summary - The company forecasts operating revenues of 98.868 billion CNY, 106.392 billion CNY, and 113.031 billion CNY for 2024, 2025, and 2026, respectively, representing year-on-year growth rates of 8.36%, 7.61%, and 6.24% [6][7]. - Net profits are projected to be 1.713 billion CNY, 1.862 billion CNY, and 1.993 billion CNY for the same years, with growth rates of 10.30%, 8.67%, and 7.04% [6][7]. - The company's cash flow is expected to improve, with a focus on the development of prefabricated construction and significant progress in the integration of its testing business [6][15]. Key Financial Metrics - In Q1 2024, the company's overall gross margin and net margin were 12.98% and 2.93%, respectively, reflecting improvements of 2.14 and 0.23 percentage points year-on-year [16]. - The company reported a net cash flow from operating activities of -3.201 billion CNY, indicating an increase in net outflow compared to the same period in 2023 [16]. - As of March 31, 2024, the company's asset-liability ratio was 85.74%, a slight increase of 1.26 percentage points year-on-year [16].