Core Viewpoint - Jiangsu Zhongtian Technology Co., Ltd. (ZTT) emphasizes its commitment to Environmental, Social, and Governance (ESG) principles, integrating them into corporate strategy and operations to promote sustainable development and social progress [1][11]. Environmental Initiatives - ZTT has launched the Green Low Carbon Manufacturing (GLCM) action plan, adding 5 new national green factories, totaling 13, and aims to reduce carbon dioxide emissions by approximately 130,000 tons through the use of over 190 million kWh of renewable electricity [3][4]. - The company has achieved a compliance rate of 100% for ISO 14001 environmental management system certification across its operational manufacturing companies [3]. Social Responsibility - ZTT focuses on employee well-being, providing employment opportunities for people with disabilities, and promoting diversity and inclusion within the workforce [1][3]. - The company has a 100% signing rate for collective contracts and has organized 278 safety drills, emphasizing its commitment to employee rights and safety [3][4]. Governance and Compliance - ZTT adheres to principles of transparency, compliance, and efficiency, optimizing its corporate governance structure and strengthening risk management to build trust with shareholders and investors [1][3]. - The company has joined the Science-Based Carbon Target Initiative (SBTi) to establish scientifically grounded emission reduction paths, demonstrating its commitment to climate action [3][5]. Financial Performance - In 2024, ZTT reported revenues of approximately RMB 48.05 billion, with operating costs of about RMB 45.27 billion, and employee wages and benefits totaling around RMB 2.86 billion [14]. - The company has maintained steady growth in revenue and controlled operating costs while increasing investments in R&D and environmental protection [12][14]. Technological Innovation - ZTT has established an "Energy and Carbon Cloud Platform" to enhance its green management system, integrating energy monitoring and carbon footprint accounting [3][4]. - The company has pioneered the "Intellectual Property Bank" platform, attracting over 11,000 participants and fostering a culture of innovation [3][4]. Global Strategy - ZTT has expanded its global footprint with 14 overseas marketing centers and 5 factories in countries such as India and Brazil, enhancing its international competitiveness [8][9]. - The company aims to achieve carbon neutrality by 2055, aligning its strategic goals with China's national targets for carbon peaking by 2030 [4][5].

Environmental, Social and Governance ESG Report 2024 Connecting Wonderful Life with Optic-Electric Network Add: No.88 Qixin Road, NETDA, Nantong, Jiangsu, P.R. China, 226009 Tel: +86 513 8010 0986 Email: sales@zttgroup.com Website: http://www.zttgroup.com Jiangsu Zhongtian Technology Co., Ltd. CONTENT 01 Chairman's Speech 2024 Science and technology 02 for a sustainable future From Commitment To Action: Sustainable Governance 04 06 Putting people first: social responsibility and inclusive | 6.1 Employee Wel ...

北京市环球律师事务所上海分所 关于 江苏中天科技股份有限公司 第三期员工持股计划的 法律意见书 北京市环球律师事务所上海分所 关于江苏中天科技股份有限公司 第三期员工持股计划的 法律意见书 GLO2024SH（法）字第 0337-2 号 致：江苏中天科技股份有限公司 北京市环球律师事务所上海分所（以下称"本所"）接受江苏中天科技股份 有限公司（以下称"公司"或"中天科技"）的委托，根据《中华人民共和国公司 法》（以下称"《公司法》"）、《中华人民共和国证券法》（以下称"《证券 法》"）、中国证券监督管理委员会（以下称"中国证监会"）发布的《关于上市 公司实施员工持股计划试点的指导意见》（以下称"《指导意见》"）、上海证 券交易所（以下称"上交所"）发布的《上海证券交易所上市公司自律监管指引 第 1号——规范运作》（以下称"《监管指引第 1号》"）等有关法律、法规和规 范性文件及《江苏中天科技股份有限公司章程》（以下称"《公司章程》"）的 相关规定，就公司拟实施的第三期员工持股计划（以下称"本次员工持股计划" 或"本计划"）相关事宜出具本法律意见书。 1 前已经发生或者存在的事实，严格履行了法定职责，遵循了勤勉 ...

Investment Rating - Industry Rating: Outperforming the market (maintained rating) [6] Core Viewpoints - The report maintains a positive outlook on the AI industry as a key investment theme for the year, anticipating that 2025 may become a pivotal year for domestic AI infrastructure competition and application development [3][19] - The report emphasizes the importance of monitoring AI industry dynamics and investment opportunities in AI applications, alongside a focus on the "AI + overseas expansion + satellite" core investment targets [3][20] - The report highlights the acceleration of low-orbit satellite development and the promotion of the low-altitude economy, recommending companies involved in these sectors [24] Summary by Sections 1. Artificial Intelligence and Digital Economy - Key recommendations for optical modules and devices include: Zhongji Xuchuang, Xinyi Sheng, Tianfu Communication, and Yuanjie Technology; suggested companies include: Guangxun Technology, Suosi, Dingtong Technology, and others [4][22] - For switch server PCBs, key recommendations are: Hudian Co., ZTE Corporation, and Unisplendour; suggested companies include: Shengke Communication, Ruijie Networks, and others [4][22] - Low valuation and high dividend companies in cloud and computing IDC resources include: China Mobile, China Telecom, and China Unicom [4][22] - AIDC and cooling solutions key recommendations include: Yingweike, Runze Technology, and others; suggested companies include: Shenling Environment, Hongjing Technology, and others [4][22] - AIGC applications and edge computing key recommendations include: Yiyuan Communication, Guanghetong, and Meige Intelligent; suggested companies include: Caixun Co., Mengwang Technology, and others [4][22] 2. Offshore Wind and Marine Cables - Key recommendations for marine cables include: Hengtong Optic-Electric, Zhongtian Technology, and Oriental Cable [5][23] - The report suggests focusing on companies with recovery potential in overseas markets, including: Huace Navigation, Weisheng Information, and others [5][23] 3. Satellite Internet and Low Altitude Economy - The report highlights the acceleration of national defense informatization and low-orbit satellite development, recommending companies such as Huace Navigation and Haige Communication; suggested companies include: Chengchang Technology, Zhenlei Technology, and others [6][24] 4. Market Performance Review - The communication sector rose by 5.06% during the week of June 3-6, outperforming the CSI 300 index by 4.18 percentage points [25] - Notable individual stock performances include: Huamai Technology, Zhongjia Bochuang, and Taicheng Light, which saw significant increases [26][29]

Investment Rating - Industry Rating: Outperform the market (maintained rating) [6] Core Viewpoints - The report maintains a positive outlook on the AI industry as a key investment theme for the year, anticipating that 2025 may become a pivotal year for domestic AI infrastructure competition and application development [3][19] - The report emphasizes the importance of monitoring AI industry dynamics and investment opportunities in AI applications, as well as the potential for growth in the satellite internet sector due to recent domestic developments [3][20] Summary by Sections 1. Artificial Intelligence and Digital Economy - Key recommendations include: - Optical modules & optical devices: Focus on companies like Zhongji Xuchuang, Xinyi Sheng, Tianfu Communication, and Yuanjie Technology [4][22] - Switches and server PCBs: Recommended companies include Hudian Co., ZTE, and Unisplendour [4][22] - Low valuation, high dividend companies in cloud and computing IDC resources: China Mobile, China Telecom, and China Unicom [4][22] - AIDC & cooling solutions: Key recommendations include Yingweike and Runze Technology [4][22] - AIGC applications/edge computing: Focus on companies like Guohua Communication and Meige Intelligent [4][22] 2. Offshore Wind and Submarine Cables - Key recommendations for submarine cables: Hengtong Optic-Electric, Zhongtian Technology, and Oriental Cable [5][23] - Focus on recovery and concentration of leading companies in overseas markets, with recommendations including Huace Navigation and Weisheng Information [5][23] 3. Satellite Internet and Low-altitude Economy - Accelerated development of low-orbit satellites and low-altitude economy, with key recommendations including Huace Navigation and Haige Communication [6][24] - Suggested companies to watch include Chengchang Technology and Zhenlei Technology [6][24] 4. Industry Performance Review - The communication sector rose by 5.06% during the week of June 3-6, outperforming the CSI 300 index by 4.18 percentage points [25] - Notable individual stock performances included Huamai Technology and Zhongjia Bochuang, both showing significant gains [26][29]

Group 1 - The core viewpoint of the article is that the global energy storage industry is experiencing significant growth, with a projected increase in integrated shipment volumes from 418.3 GWh in 2024 to 550 GWh in 2025, representing a year-on-year growth of 92.7% [1][6]. Group 2 - In 2024, the top 30 companies in global energy storage system integration by shipment volume include Tesla, Sungrow, CRRC Zhuzhou Institute, CATL, Fluence, BYD, Envision Energy, Powin, Nextera, Guoxuan High-Tech, and others [4][5]. - The concentration ratio (CR10) for the top 10 companies in the energy storage system integration market is 64%, indicating a relatively low industry concentration due to the rapid growth phase and the influx of new entrants from various sectors such as photovoltaics, wind power, batteries, and traditional energy [6][8].

Core Insights - The global energy storage industry is experiencing rapid growth, with a projected shipment volume of 418.3 GWh in 2024, representing a year-on-year increase of 92.7%. The forecast for 2025 is set at 550 GWh [1]. Group 1: Market Overview - The top 30 companies in global energy storage system shipments for 2024 include Tesla, Sungrow, CRRC Zhuzhou Institute, CATL, Fluence, BYD, Envision Energy, Powin, Nextera, Guoxuan High-Tech, and others [4][5]. - The concentration ratio (CR10) for the global energy storage system integration market is 64%, indicating a relatively low level of market concentration. This is attributed to the high growth phase of the energy storage integration segment, which is a key battleground for new entrants from various sectors including solar, wind, batteries, and traditional energy [6]. Group 2: Industry Dynamics - The energy storage industry is characterized by intense competition, with numerous new entrants emerging as the market expands. This competitive landscape is expected to intensify in the future [6].

Summary of Zhongtian Technology Conference Call Company Overview - Zhongtian Technology's total revenue for 2024 is projected to be approximately 40 billion yuan, with contributions from the communication, marine, and power sectors being 8 billion, 3.6 billion, and 1 billion respectively [2][5][19] - The company generates 80% of its revenue from domestic markets, with less than 20% from international markets [6] Financial Performance - In 2024, Zhongtian Technology achieved operating revenue of 48 billion yuan and a net profit attributable to shareholders of 2.8 billion yuan, with a non-recurring net profit of 2.545 billion yuan [4] - The power sector's revenue is 19.8 billion yuan, while the communication sector's revenue is 22 billion yuan [4] - The marine cable segment has a gross margin of approximately 40%, benefiting from the delivery of 337 kV products [2][5] - The marine engineering segment has a negative gross margin of 8%, but profitability is expected to improve in 2025 as construction volume increases [2][5][17] Sector Insights Marine Energy - The marine energy sector has an order backlog of 31.2 billion yuan, with 13.4 billion yuan from marine projects, 14 billion yuan from power projects, and nearly 4 billion yuan from new energy projects [7] - The Jiangsu Yancheng Guoxin project is in a dense delivery phase, with most revenue expected to be recognized in Q2 and Q3 [8] Power Sector - The power sector is expected to benefit from the domestic ultra-high voltage construction and European energy interconnection projects, with a favorable growth outlook for the next 5 to 10 years [19] - The company has secured two ultra-high voltage projects totaling nearly 2 billion yuan, which will enhance overall gross margins [16][19] Communication Sector - The communication sector is stable, with a gross margin of around 25% [2][5] - The traditional optical fiber business accounts for 40%-50% of revenue, while emerging products like 5G antennas and optical modules account for 20% and are growing rapidly [12] International Market Opportunities - The acceleration of offshore wind power construction in Europe presents opportunities for high-voltage cables in markets like Turkey, which may enhance overseas revenue [6][14] - The company aims to increase its overseas marine cable revenue share to 20%-30% in the future [14] Project Delivery and Order Status - As of April 23, 2025, domestic orders are estimated at 6-7 billion yuan, with 70% expected to be delivered in 2025 [15] - The company has a target of adding 3-4 billion yuan in new orders this year, with a focus on matching production capacity [14] Emerging Trends and Future Outlook - The company is transitioning production capacity towards specialty optical fibers, including multi-mode and hollow fibers [23] - The overall business is expected to achieve stable growth, with a focus on high-quality development in the coming years [25][26] Additional Insights - The marine cable business is influenced by geopolitical factors, with the company actively participating in domestic demand growth [22] - The company is not focusing on nuclear fusion or superconducting technologies, which are not core areas of interest [10] This summary encapsulates the key points from the conference call, highlighting the company's financial performance, sector insights, international opportunities, project delivery status, and future outlook.

江苏中天科技股份有限公司 二〇二五年六月十一日 江苏中天科技股份有限公 司 2024 年年度股 东大会会议资料 江苏中天科技股份有限公司 时间：2025 年 6 月 11 日(星期三)下午 2:30 地点：江苏省南通经济技术开发区中天路三号中天黄海宾馆会议室 参会人员：江苏中天科技股份有限公司（以下简称"中天科技股份"或"公 司"）股东及股东代表、董事、监事、高级管理人员及公司聘请的见证律师 会议议程： 议案二：关于《江苏中天科技股份有限公司第三期员工持股计划（草案）》 议案三：关于《江苏中天科技股份有限公司第三期员工持股计划管理办法》 议案七：江苏中天科技股份有限公司关于募集资金年度存放与使用情况的专 议案十二：关于续聘中兴华会计师事务所（特殊普通合伙）为公司 2025 年 江苏中天科技股份有限公 东大会会议资料 司 2024 年年度股 十、由见证律师宣读为本次股东大会出具的法律意见书 十一、宣布本次股东大会闭会 议案一 关于调整公司第二期员工持股计划相关事项的议案 尊敬的各位股东及股东代表： 为保证本次员工持股计划顺利实施，进一步优化绩效考核结果及解锁比例，调动公司部分董事、高级 管理人员、核心业务骨干的 ...

江苏中天科技股份有限公司 2024 年年度股东大会资料 二〇二五年六月十一日 1 江苏中天科技股份有限公司 2024 年年度股东大会会议资料 江苏中天科技股份有限公司 2024 年年度股东大会议程 时间：2025 年 6 月 11 日(星期三)下午 2:30 地点：江苏省南通经济技术开发区中天路三号中天黄海宾馆会议室 参会人员：江苏中天科技股份有限公司（以下简称"中天科技股份"或"公 司"）股东及股东代表、董事、监事、高级管理人员及公司聘请的见证律师 会议议程： | 议案十三：关于确认公司董事 2024 年度薪酬方案的议案 60 | | | --- | --- | | 议案十四：关于确认公司监事 2024 年度薪酬方案的议案 61 | | | 议案十五：关于 年度日常关联交易及 2025 年预计发生日常关联交易的 | 2024 | | 议案 62 | | | 议案十六：关于 年度预计对外担保额度的议案 67 | 2025 | | 议案十七：关于开展 2025 年度外汇套期保值业务的议案 71 | | | 议案十八：关于修订《公司章程》及修订、制定公司部分治理制度的议案 72 | | | 议案十九：关于董事会换 ...