北京市嘉源律师事务所 关于广东东阳光科技控股股份有限公司 2025 年员工持股计划相关事项的 法律意见书 西城区复兴门内大街 158 号远洋大厦 4 楼 中国·北京 源 霍 师事务 所 A YUAN LAW OFFICES 北京市嘉源律师事务所 关于广东东阳光科技控股股份有限公司 2025年员工持股计划相关事项的 法律意见书 嘉源(2025)-05-361 敬启者: 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》")、中国证券监督管理委员会(以下 简称"中国证监会")《关于上市公司实施员工持股计划试点的指导意见》(以 下简称"《指导意见》")、《上海证券交易所上市公司自律监管指引第1号一 一规范运作》(以下简称"《规范运作指引》")和《广东东阳光科技控股股份 有限公司章程》(以下简称"《公司章程》")等有关规定,北京市嘉源律师事 务所(以下简称"本所")接受广东东阳光科技控股股份有限公司(以下简称"东 阳光"或"公司")的委托,就东阳光 2025年员工持股计划(以下简称"本次 员工持股计划"）及相关事项出具本法律意见书。 北京 BEIJING · 上海 ...

2025 年第二次临时股东大会文件目录 广东东阳光科技控股股份有限公司 二○二五年第二次临时股东大会会议资料 600673 广东东阳光科技控股股份有限公司 2025 年 10 月 广东东阳光科技控股股份有限公司 | 2025 年第二次临时股东大会会议议程 3 | | --- | | 议案一：关于与关联方共同增资合资公司用于收购秦淮数据中国 100%股权暨关 | | 联交易的议案 4 | | 议案二：关于《广东东阳光科技控股股份有限公司 2025 年员工持股计划（草案）》 | | 及其摘要的议案 5 | | 议案三：关于《广东东阳光科技控股股份有限公司 2025 年员工持股计划管理办 | | 法》的议案 6 | | 议案四：关于提请股东大会授权董事会办理公司员工持股计划相关事项的议案7 | | 2025 年第二次临时股东大会议案表决方法 9 | 广东东阳光科技控股股份有限公司 2025 年第二次临时股东大会会议议程 一、会议时间： 现场会议时间：2025 年 10 月 10 日上午 10:00 准时召开，会期一天； 网络投票时间：2025 年 10 月 10 日至 2025 年 10 月 10 日； 采用上海证 ...

Investment Rating - The investment rating for the chemical raw materials industry is "Positive" (maintained) [1] Core Viewpoints - The fluorochemical industry is entering a long-term prosperity cycle, with significant growth potential across the entire supply chain, from raw materials like fluorite to high-end fluorinated materials and fine chemicals [23] - The market for fluorite is showing a continuous recovery, with prices increasing due to strong demand and limited supply [35][36] - The refrigerant market is expected to maintain an upward trend, driven by the increasing prices of R32 and other refrigerants, as well as the ongoing transition to more environmentally friendly products [21][22] Summary by Sections 1. Fluorochemical Industry Overview - The fluorite price has shown a continuous recovery, with the average market price for 97% wet fluorite reaching 3,512 CNY/ton, up 4.09% from the previous week [19][35] - The fluorochemical index decreased by 0.43% during the week of September 22-26, 2025, underperforming compared to the Shanghai Composite Index and the CSI 300 Index [27][30] 2. Fluorite Market - The fluorite market is experiencing a strong upward trend, with increased inquiries and negotiations for new contracts as downstream prices rise [35] - The supply side is tightening due to production limitations and seasonal factors, leading to a bullish market sentiment [36] 3. Refrigerant Market - As of September 26, 2025, the prices for various refrigerants are as follows: R32 at 62,500 CNY/ton, R125 at 45,500 CNY/ton, R134a at 52,000 CNY/ton, R410a at 52,500 CNY/ton, and R22 at 34,500 CNY/ton [21][24] - The export quota for R32 has been progressing well, with a 62% consumption rate, benefiting from the release of overseas production capacity by domestic air conditioning companies [22] 4. Recent Industry Developments - Major companies such as Juhua Co. have received environmental assessments for new projects, indicating ongoing investment in the fluorochemical sector [10] - India has initiated anti-dumping investigations against Chinese HFC refrigerants, which may impact market dynamics [10][11] 5. Recommended Stocks - Key stocks to watch include Jinshi Resources, Juhua Co., Sanmei Co., and Haohua Technology, with other beneficiaries being Dongyangguang, Yonghe Co., Dongyue Group, and Xinjubang [11][23]

Investment Rating - The report maintains a "Positive" rating for the chemical industry [5][6][20] Core Insights - The petrochemical industry is expected to see stable growth due to the introduction of policies aimed at enhancing industry health and eliminating outdated capacity [5][6] - The demand for viscose filament is anticipated to tighten, leading to an upward trend in prices, while the grass herbicide market is expected to optimize its structure [5][6] - The global GDP growth is projected to remain at 2.8%, with stable oil demand despite some slowdown due to tariff policies [5][6] Industry Dynamics - Oil supply is expected to increase significantly, driven by non-OPEC production, while demand remains stable [5][6] - The coal market is anticipated to experience long-term price stabilization, with easing pressures on downstream sectors [5][6] - Natural gas exports from the U.S. are likely to accelerate, potentially lowering import costs [5][6] Chemical Sector Analysis - The report highlights that the viscose filament industry will see a supply-demand tightening, with a projected increase in operating rates from 84% to over 95% [5][6] - The grass herbicide market is set to address issues of low pricing and quality through upcoming industry meetings aimed at regulating competition [5][6] Investment Recommendations - The report suggests focusing on sectors benefiting from the "anti-involution" policy, including textiles, agriculture, and export-related chemicals [5][6] - Specific companies to watch include Xinxiang Chemical Fiber, Jilin Chemical Fiber, and Lier Chemical, which are expected to benefit from market dynamics [5][6][20] Key Company Valuations - The report provides a valuation table for key companies, indicating various ratings such as "Buy" and "Increase" for companies like Hailir Chemical, Yunnan Chemical, and Wanhu Chemical [20]

Core Viewpoint - The article reviews the performance of battery aluminum foil companies in the first half of 2025 and forecasts the industry's future, highlighting challenges such as high concentration in demand and declining processing fees impacting profitability [2][12][29]. Production and Supply - The total production of battery aluminum foil from January to August 2025 reached 317,000 tons, marking a 37% year-on-year increase [3]. - The expected total production for the year is close to 500,000 tons, with effective domestic production capacity at 869,000 tons, where Ding Sheng New Materials holds a 32% market share [5][7]. - The industry shows signs of idle capacity, particularly among newer entrants, while leading players maintain higher utilization rates [9][10]. Financial Performance - Key companies' financial results for the first half of 2025 show varied performance, with Ding Sheng New Materials reporting a revenue of 13.314 billion and a net profit of 188 million, reflecting a 2% increase [11]. - Other companies like Wan Shun New Materials and Jin Yu Co. faced significant declines in revenue and profits, indicating a challenging environment for battery aluminum foil manufacturers [12][14]. Market Dynamics - The demand for battery aluminum foil is highly concentrated, with two major battery cell manufacturers accounting for over 50% of total procurement, leading to increased bargaining power and pressure on profit margins for aluminum foil companies [11]. - The processing fee structure for battery aluminum foil is primarily determined by the price of electrolytic aluminum and the processing fee, with the latter being the main area for price negotiation [16][17]. Future Outlook - The forecast for 2026 anticipates a domestic demand for battery aluminum foil between 650,000 to 700,000 tons, while effective production capacity is expected to reach 921,000 tons [18][19]. - The article suggests that the industry may not see a significant recovery in processing fees in the near term, as the supply-demand balance is expected to stabilize over time [22][29]. - The competitive landscape indicates that while some smaller players may exit the market due to declining processing fees, larger companies with substantial resources are likely to remain resilient [24][27].

Market Overview - On September 26, the comprehensive sector declined by 2.06%, with Dongyangguang leading the drop [1] - The Shanghai Composite Index closed at 3828.11, down 0.65%, while the Shenzhen Component Index closed at 13209.0, down 1.76% [1] Stock Performance - Notable gainers included: - Yueda Investment (600805) with a closing price of 5.11, up 3.02% on a trading volume of 264,500 shares and a turnover of 135 million yuan [1] - Ningbo United (600051) closed at 7.14, up 1.42% with a trading volume of 42,500 shares and a turnover of 30.29 million yuan [1] - Major decliners included: - Dongyangguang (600673) closed at 23.11, down 4.23% with a trading volume of 623,600 shares and a turnover of 1.458 billion yuan [2] - Shanghai Sanmao (600689) closed at 13.86, down 1.91% with a trading volume of 40,800 shares and a turnover of 57.14 million yuan [2] Capital Flow - The comprehensive sector experienced a net outflow of 249 million yuan from main funds, while retail investors saw a net inflow of 218 million yuan [2] - Notable capital flows included: - Yueda Investment had a net inflow of 12.39 million yuan from main funds, while it saw a net outflow of 9.03 million yuan from retail investors [3] - Zongyi Shares (600770) had a net inflow of 9.77 million yuan from main funds, with a net outflow of 2.54 million yuan from retail investors [3]

Group 1 - Zhejiang Dongyangguang Intelligent Technology Co., Ltd. has been established with a registered capital of 200 million yuan [1] - The company's business scope includes manufacturing, design, and sales of integrated circuit chips and products, as well as calculator equipment manufacturing [1] - Dongyangguang holds 100% ownership of the newly established company [1]

Group 1 - A new company named Zhejiang Dongyangguang Zhichuang Technology Co., Ltd. has been established with a registered capital of 200 million yuan [2] - The legal representative of the company is Lou Wangjun, and it is wholly owned by Dongyangguang [2] - The business scope of the company includes manufacturing, design, and sales of integrated circuit chips and products [2]

Group 1 - The Shanghai Composite Index fell by 0.01% on September 25, with 7 out of the 28 sectors rising, led by Media and Communication sectors, which increased by 2.23% and 1.99% respectively [1] - The Comprehensive sector experienced a decline of 1.30%, with a net outflow of 22.6 million yuan in main capital throughout the day, and all 16 stocks in this sector fell [1] - Among the stocks in the Comprehensive sector, Tianchen Co. saw the highest net inflow of capital at 3.96 million yuan, followed by Taida Co. and Yatai Group with net inflows of 1.19 million yuan and 1.18 million yuan respectively [1] Group 2 - The stocks with the largest net outflows in the Comprehensive sector included Dongyangguang, Yuegui Co., and Nanjing Xinbai, with net outflows of 159 million yuan, 27.49 million yuan, and 14.65 million yuan respectively [1] - The table provided lists various stocks in the Comprehensive sector, detailing their daily price changes, turnover rates, and main capital flow, highlighting significant declines in stocks such as Dongyangguang (-1.23%) and Nanjing Xinbai (-1.74%) [1]

Group 1 - A new company named Zhejiang Dongyangguang Zhichuang Technology Co., Ltd. was established on September 24, with a registered capital of 200 million RMB [1] - The legal representative of the company is Lou Wangjun [1] - The company's business scope includes manufacturing, design, and sales of integrated circuit chips and products [1] Group 2 - The company is wholly owned by Dongyangguang [1]