Group 1 - The board of directors of Shanghai Jiaoyun Group Co., Ltd. held its ninth meeting on July 7, 2025, via telecommunication voting, with all 7 participating directors voting in favor of all resolutions [1][2]. - The meeting's procedures complied with relevant laws, regulations, and the company's articles of association [1]. - The board unanimously approved all agenda items with a voting result of 7 votes in favor, 0 against, and 0 abstentions [1]. Group 2 - Due to a work transfer, the company's president, Mr. Du Hui, resigned from his position [2]. - The board of directors appointed Mr. Xia Jian as the new president of Shanghai Jiaoyun Group Co., Ltd., effective from the date of the board's approval until the end of the current board's term [2]. - The appointment followed a review by the board's nomination committee, which found no objections to Mr. Xia Jian's qualifications [2].

证券代码：600676 证券简称：交运股份 公告编号：2025-032 上海交运集团股份有限公司 关于公司总裁变更的公告 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： 上海交运集团股份有限公司（以下简称"公司" 公司于 2025 年 7 月 7 日召开了第九届董事会第九次会议，审议 通过了《关于聘任夏坚先生为公司总裁的议案》，聘任夏坚先生担任 上海交运集团股份有限公司总裁。 一、董事兼总裁离任情况 (一) 提前离任的基本情况 是否继 续在上 是否存在 原定任 具体职 离任职 离任时 市公司 未履行完 姓名 期到期 离任原因 务（如 务 间 及其控 毕的公开 日 适用） 股子公 承诺 司任职 杜慧 董事、总 2025 年 7 2027 年 5 工作调动 否 不适用 无 裁 月7日 月 22 日 (二) 离任对公司的影响 根据《公司法》和《公司章程》的相关规定，杜慧先生的离任不 会导致董事会成员低于法定人数。在公司股东大会选举产生新任董事 填补空缺前，杜慧先生将按照法律法规、上海证券交易所相关规定和 《公司章程》 ...

上海交运集团股份有限公司（以下简称"公司"）于二〇二五年七 月一日以专人送达和邮件方式向全体董事发出了以通讯表决方式召开 第九届董事会第九次会议的会议通知及相关议案。二〇二五年七月七 日，公司以通讯表决方式召开了第九届董事会第九次会议。会议应参与 表决的董事 7 名，实际参与表决的董事 7 名。本次会议的召开及程序符 合有关法律、行政法规、部门规章、规范性文件和《公司章程》的规定。 证券代码：600676 证券简称： 交运股份 公告编号：2025-031 上海交运集团股份有限公司 第九届董事会第九次会议决议公告 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 具 体 内 容 详 见 公 司 同 日 刊 登 于 上 海 证 券 交 易 所 网 站 （www.sse.com.cn）上的《上海交运集团股份有限公司关于公司总裁变 更的公告》（公告编号：2025-032）。 1 特此公告。 上海交运集团股份有限公司董事会 二、董事会会议审议情况 会议审议并以记名投票方式表决通过了会议全部议案，并作出如下 决议： ...

交运股份（600676）公告，公司董事会于2025年7月7日收到董事兼总裁杜慧的书面辞职报告。杜慧因工 作调动原因辞去公司董事、总裁及董事会专门委员会相关职务。同日，公司召开第九届董事会第九次会 议，审议通过了《关于聘任夏坚先生为公司总裁的议案》，聘任夏坚担任上海交运集团股份有限公司总 裁。 ...

Group 1 - The core opinion of the legal opinion letter is that the procedures for convening and holding the shareholders' meeting of Shanghai Jiaoyun Group Co., Ltd. comply with relevant laws, regulations, and the company's articles of association [2][6] - The company announced the notice for the 2025 first extraordinary general meeting of shareholders on June 6, 2025, in the Shanghai Securities Journal and on the Shanghai Stock Exchange website [3][5] - The meeting was conducted with both on-site and online voting, and the voting procedures were in accordance with the rules and regulations [3][5] Group 2 - A total of 203 shareholders and representatives with voting rights attended the meeting, and all attendees had valid qualifications [6] - No shareholders proposed any temporary motions during the meeting [6] - The voting results from both on-site and online platforms were combined and confirmed to be valid [6]

重要内容提示： 本次会议是否有否决议案：无 证券代码：600676 证券简称：交运股份 公告编号：2025-029 上海交运集团股份有限公司 2025年第一次临时股东大会决议公告 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。 一、 会议召开和出席情况 (一)股东大会召开的时间：2025 年 6 月 26 日 (二)股东大会召开的地点：上海市静安区恒丰路 288 号 11 楼 1118 会议室 (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： | 1、出席会议的股东和代理人人数 | 203 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 529,851,379 | | 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 | | | 份总数的比例（%） | 51.5173 | (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会由公司董事会召集，公司董事长陈晓龙先生主持本次会议。会议采 用现场投票与网络投票相结合的表决方式。金茂凯德律师 ...

一、董事会会议召开情况 上海交运集团股份有限公司（以下简称"公司"）于二〇二五年六 月十九日以专人送达和邮件方式向全体董事发出了以通讯表决方式召 开第九届董事会第八次会议的会议通知及相关议案。二〇二五年六月二 十六日，公司以通讯表决方式召开了第九届董事会第八次会议。会议应 参与表决的董事 7 名，实际参与表决的董事 7 名。本次会议的召开及程 序符合有关法律、行政法规、部门规章、规范性文件和《公司章程》的 规定。 二、董事会会议审议情况 上海交运集团股份有限公司 第九届董事会第八次会议决议公告 会议审议并以记名投票方式表决通过了会议全部议案，并作出如下 决议： 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、准确性和完整性承担法律责任。 证券代码：600676 证券简称： 交运股份 公告编号：2025-030 董事会"战略委员会"由陈晓龙、严杰（独立董事）、杨东援（独 立董事）、洪亮（独立董事）、杜慧、侯文青、张正组成，陈晓龙任主 任委员。 董事会"审计委员会"由严杰（独立董事）、杨东援（独立董事）、 上述调整后的董事会各专门委员会委员任期不变，任期自董事 ...

Jin Mao Partners 金 茂 凯 德 律 师 事 务 所 13F, HongKongNewWorld Tower, No.300 HuaihaiZhongRd, Shanghai, 200021,P.R.C. 中国上海淮海中路 300 号香港新世界大厦 13 层邮编：200021 Tel/电话:(8621)63872000 Fax/传真:(8621)63353272 上海金茂凯德律师事务所 关于上海交运集团股份有限公司 2025 年第一次临时股东大会的法律意见书 致：上海交运集团股份有限公司 上海金茂凯德律师事务所（以下简称"本所"）经上海交运集团股份有限公 司（以下简称"公司"）聘请委派张博文律师、游广律师（以下简称"本所律 师"）出席上海交运集团股份有限公司 2025 年第一次临时股东大会（以下简称 "本次股东大会"），并根据《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《上市公司股东会规则》（以下简称"《股东会规则》"）等相 关法律、法规和规范性文件以及《上海交运集团股份有限公司章程》（以下简称 "《公司章程 ...

Market Overview - The A-share market opened quietly on June 24, with the Shanghai Composite Index rising over 0.8%, the Shenzhen Component Index up over 1%, and the ChiNext Index increasing by over 1.6% [1][2] - More than 4,500 stocks in the market experienced gains [1] Sector Performance - Non-bank financials, automotive, media, and computer sectors showed strong performance, while oil and gas, shipping, defense, and coal sectors faced declines [2][9] - The non-bank financial sector saw significant activity, with brokerage stocks like Guosheng Financial and Hongye Futures hitting the daily limit [9][10] Notable Stocks - In the automotive sector, smart driving concept stocks surged, with Hengshuai Co. hitting the daily limit of 20% increase [5][6] - Other notable gainers included Jiaoyun Co., Haima Automobile, and Zhejiang Sebao, all reaching their daily limits [5][6] - The stock index for trading software rose, with companies like Zhina Zhen and Tonghuashun showing significant increases [11] Oil and Gas Sector - The oil and gas sector faced a sharp decline, with several stocks like Tongyuan Petroleum and Qianeng Hengxin dropping over 20% [12][15] - The international oil price fell significantly due to geopolitical tensions, impacting the oil and gas stocks [16] Defense and Military Sector - The defense and military sector also experienced a downturn, with stocks like Jieqiang Co. hitting the daily limit down and others like Beifang Changlong and Xinguang Optoelectronics dropping over 10% [17]

Core Viewpoint - The Shanghai Securities Exchange has raised specific inquiries regarding the annual report of Shanghai Jiaoyun Group Co., Ltd, particularly focusing on inventory valuation, contract fulfillment costs, and the implications of these figures on the company's financial health [2][3][6]. Inventory - The year-end inventory value of the company is 639 million yuan, reflecting a 2.73% increase from the previous year, with a provision for inventory impairment of 84.22 million yuan, representing an 11.64% provision rate [2]. - The value of dispatched goods is 68.08 million yuan, showing a significant year-on-year increase of 154%, while the contract fulfillment cost stands at 55.76 million yuan, up 24% year-on-year [2][5]. - The inventory turnover rates for the past three years are 8.46, 7.51, and 6.84 times, indicating a downward trend [2][10]. Contract Fulfillment Costs - As of December 31, 2024, the original value of contract fulfillment costs is 55.80 million yuan, with a minimal impairment provision of 40,600 yuan, resulting in a net value of 55.76 million yuan [6]. - The main components of contract fulfillment costs are related to the manufacturing of automotive parts, including various purchased and self-made tools, with ongoing projects still in the testing or acceptance phase [6][7]. Business Model and Revenue Recognition - The company confirms that the increase in dispatched goods is reasonable and aligns with its business model and revenue recognition policies, with timely post-settlement and no long-term acceptance or return risks [5][6]. - The sales settlement cycle for dispatched goods typically ranges from 1 to 2 months, with a significant portion of the 2025 settlements already accounted for in January and February [5]. Inventory Impairment and Comparison with Peers - The company has conducted a thorough inventory impairment test, ensuring that provisions are made for items that are expected to be unsellable or unusable, with a cautious approach reflected in the higher impairment provision rate compared to industry peers [8][9]. - The average impairment provision rates for comparable companies in the automotive parts sector are lower than that of the company, indicating a more conservative stance on inventory valuation [9]. Inventory Turnover Rate - The declining inventory turnover rate is attributed to a combination of factors, including overstocking based on previous demand forecasts and a decrease in sales, leading to longer production and sales cycles [12]. - The company is actively working to optimize inventory management by enhancing supply chain agility and adjusting inventory targets based on customer demand [12].