关于上海耀皮玻璃集团股份有限公司 向特定对象发行股票申请的 审核问询函的专项核查报告 上会业函字(2025)第 1259 号 上会会计师事务所（特殊普通合伙） 中国 上海 关于上海耀皮玻璃集团股份有限公司向特定对象发行股票 申请的审核问询函的专项核查报告 上会业函字(2025)第 1259 号 上海证券交易所： 贵所于 2025 年 8 月 8 日出具的《关于上海耀皮玻璃集团股份有限公司向特 定对象发行股票申请文件的审核问询函》（上证上审（再融资）〔2025〕240 号） （以下简称"审核问询函"）已收悉。上会会计师事务所（特殊普通合伙）（以 下简称"我们"或"申报会计师"）作为上海耀皮玻璃集团股份有限公司（以下 简称"发行人"、"公司"或"耀皮玻璃"）向特定对象发行股票的申报会计师 对审核问询函所列问题进行了逐项落实、核查，现对审核问询函问题回复如下， 请予审核。 如无特别说明，本问询函回复使用的简称与《上海耀皮玻璃集团股份有限公 司 2025 年度向特定对象发行 A 股股票募集说明书（申报稿）》（以下简称"募 集说明书"）中的释义相同。 | 格式 | 说明 | | --- | --- | | 黑体（加粗） ...

国泰海通证券股份有限公司 关于 上海耀皮玻璃集团股份有限公司 2025 年度向特定对象发行 A 股股票 之 上市保荐书 保荐人（主承销商） 二〇二五年九月 上海耀皮玻璃集团股份有限公司 上市保荐书 声 明 国泰海通证券股份有限公司（以下简称"国泰海通"或"保荐人"）接受上 海耀皮玻璃集团股份有限公司（以下简称"耀皮玻璃"、"公司"或"发行人"） 的委托，担任耀皮玻璃 2025 年度向特定对象发行 A 股股票（以下简称"本次发 行"）的保荐人。 国泰海通及其保荐代表人根据《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》"）、《证券发行上 市保荐业务管理办法》（以下简称"《保荐管理办法》"）、《上市公司证券发行注册 管理办法》（以下简称"《注册管理办法》"）、《上海证券交易所股票上市规则》、 《上海证券交易所上市公司证券发行与承销业务实施细则》等有关法律、行政法 规和中国证券监督管理委员会、上海证券交易所的规定，诚实守信，勤勉尽责， 严格按照依法制定的业务规则、行业执业规范和道德准则出具上市保荐书，并保 证所出具文件真实、准确、完整。 （本上市保荐书如无特别说明 ...

发行保荐书 国泰海通证券股份有限公司 关于 上海耀皮玻璃集团股份有限公司 2025 年度向特定对象发行 A 股股票 之 保荐人（主承销商） 二〇二五年九月 上海耀皮玻璃集团股份有限公司 发行保荐书 声 明 国泰海通证券股份有限公司（以下简称"国泰海通"或"保荐人"）接受上 海耀皮玻璃集团股份有限公司（以下简称"耀皮玻璃"、"公司"或"发行人"） 的委托，担任耀皮玻璃 2025 年度向特定对象发行 A 股股票（以下简称"本次发 行"）的保荐人。 国泰海通及其保荐代表人根据《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 公司证券发行注册管理办法》（以下简称"《注册管理办法》"）、《证券发行 上市保荐业务管理办法》（以下简称"《保荐管理办法》"）、《发行证券的公 司信息披露内容与格式准则第 27 号——发行保荐书和发行保荐工作报告》、《上 海证券交易所上市公司证券发行上市审核规则》（以下简称"《审核规则》"） 及《上海证券交易所上市公司证券发行与承销业务实施细则》（以下简称"《承 销细则》"）等有关法律、法规和中国证券监督管理委员会（以下简称"中国证 ...

北京大成律师事务所 关于 上海耀皮玻璃集团股份有限公司 2025 年度向特定对象发行 A 股股票 之 补充法律意见书（一） 北京市朝阳区朝阳门南大街 10 号兆泰国际中心 B 座 16-21 层（100020） 16-21F, Tower B, ZT INTERNATIONAL CENTER, No.10, Chaoyangmen Nandajie, Chaoyang District, 100020, Beijing, China Tel: 8610-58137799 Fax: 8610-58137788 www.dentons.cn 7-3-1 | 目 录 2 | | --- | | 释 义 3 | | 第一部分 对《审核问询函》的回复 5 | | 《审核问询函》问题 3.1 5 | | 《审核问询函》问题 3.2 9 | | 第二部分 对补充核查期间和新增报告期事项的补充披露 16 | | 一、本次发行的批准和授权 16 | | 二、发行人本次发行的主体资格 16 | | 三、本次发行的实质条件 16 | | 四、发行人的设立 17 | | 五、发行人的独立性 17 | | 六、发行人的股东和实际控制人 ...

上海耀皮玻璃集团股份有限公司（以下简称"公司"或"上市公司"））于 2025 年 8 月 8 日收到上海证券交易所（以下简称"上交所"）出具的《关于上海 耀皮玻璃集团股份有限公司向特定对象发行股票申请文件的审核问询函》（上证 上审（再融资）〔2025〕240 号）（以下简称"《审核问询函》"），上交所审核中心 对公司提交的向特定对象发行股票申请文件进行了审核，并形成了审核问询问题。 公司收到审核问询函后，会同相关中介机构对《审核问询函》所列问题进行 了认真研究和逐项落实，对有关问题进行了说明、论证分析和逐项回复，并对募 集说明书等申请文件进行了补充和更新。鉴于公司 2025 年半年度报告已公开披 露，公司会同相关中介机构对募集说明书等申请文件中涉及的财务数据等内容进 行了相应的更新。具体内容详见公司于同日在上交所网站（http://www.sse.com.cn） 披露的相关公告文件。 公司本次向特定对象发行 A 股股票事项尚需上交所审核通过，并获得中国 证券监督管理委员会（以下简称"中国证监会"）同意注册后方可实施。最终能 否通过上交所审核，并获得中国证监会同意注册的决定及其时间尚存在不确定性。 公司将根据进 ...

关于上海耀皮玻璃集团股份有限公司 向特定对象发行股票申请文件 的审核问询函之回复报告 保荐人（主承销商） （中国（上海）自由贸易试验区商城路 618 号） 二〇二五年九月 上海证券交易所： 贵所于 2025 年 8 月 8 日出具的《关于上海耀皮玻璃集团股份有限公司向特 定对象发行股票申请文件的审核问询函》（上证上审（再融资）〔2025〕240 号） （以下简称"审核问询函"）已收悉。上海耀皮玻璃集团股份有限公司（以下简 称"耀皮玻璃"、"发行人"或"公司"）与国泰海通证券股份有限公司（以下 简称"国泰海通"或"保荐人"）、北京大成律师事务所（以下简称"发行人律 师"）、上会会计师事务所（特殊普通合伙）（以下简称"申报会计师"）等相 关方对审核问询函所列问题进行了逐项核查，现回复如下，请予审核。 如无特别说明，本问询函回复使用的简称与《上海耀皮玻璃集团股份有限公 司 2025 年度向特定对象发行 A 股股票募集说明书》（以下简称"募集说明书"） 中的释义相同。 本问询函回复的字体代表以下含义： | 审核问询函所列问题 | 黑体（不加粗） | | --- | --- | | 对问题的回复 | 宋体（不加粗） | ...

Market Performance - On September 5, the glass and fiberglass sector rose by 3.37% compared to the previous trading day, with Zhongcai Technology leading the gains [1] - The Shanghai Composite Index closed at 3812.51, up 1.24%, while the Shenzhen Component Index closed at 12590.56, up 3.89% [1] Individual Stock Performance - Zhongcai Technology (002080) closed at 32.72, up 5.38% with a trading volume of 449,300 shares and a transaction value of 1.455 billion [1] - Jiuding New Materials (002201) closed at 8.45, up 4.71% with a trading volume of 230,900 shares and a transaction value of 193 million [1] - Honghe Technology (603256) closed at 36.45, up 4.38% with a trading volume of 209,000 shares and a transaction value of 749 million [1] - Other notable stocks include Yaopi Glass (618009) up 3.91%, Jinjing Technology (600586) up 3.64%, and Qibin Group (601636) up 2.95% [1] Capital Flow Analysis - The glass and fiberglass sector saw a net inflow of 309 million from main funds, while retail funds experienced a net outflow of 188 million [1] - Main fund inflows were led by Honghe Technology with 91.83 million, followed by Zhongcai Technology with 24.20 million [2] - Retail funds saw significant outflows from Jiuding New Materials and Jinjing Technology, with outflows of 628,820 and 2.69 million respectively [2]

Core Viewpoint - The company plans to raise up to RMB 300 million through a private placement of A-shares to enhance its capital strength and profitability, focusing on energy-saving upgrades and automation of its glass production lines [1][2][6]. Group 1: Background and Purpose of the Issuance - The glass industry is a significant part of the manufacturing sector in China, which has become the largest glass producer and consumer globally, covering various segments such as construction, automotive, photovoltaic, and electronic glass [2][3]. - Recent technological advancements and environmental awareness are driving the industry towards high-end, intelligent, and green manufacturing, supported by multiple national policies [2][3]. - The company aims to address structural issues in the glass industry, such as the insufficient supply of high-performance products, by enhancing its manufacturing capabilities through this fundraising initiative [6][7]. Group 2: Investment Projects - The total investment for the energy-saving upgrade and automation of the Dalian glass production line is estimated at RMB 404.75 million, with the company planning to allocate RMB 300 million from the fundraising to this project [1][9]. - The projects are aligned with the company's main business and are expected to optimize product structure and enhance market competitiveness, particularly in high-end glass markets [8][24]. Group 3: Financial Impact and Shareholder Considerations - The issuance is expected to increase the company's total assets and net assets, enhancing its financial strength and risk resistance [10][19]. - The company has conducted analyses on the potential dilution of immediate returns for existing shareholders and has proposed measures to mitigate this impact [22][23]. - The fundraising is projected to support the company's long-term sustainable development and improve its profitability in the automotive, photovoltaic, home appliance, and construction sectors [7][8][26]. Group 4: Compliance and Fairness of the Issuance - The issuance plan has undergone necessary approvals from the board and shareholders, ensuring compliance with relevant laws and regulations [19][20]. - The selection of specific investors for the issuance is deemed appropriate, with a maximum of 35 qualified investors participating [11][12]. - The pricing mechanism for the shares is based on a fair valuation process, ensuring that the interests of all shareholders are considered [18][21].

Core Viewpoint - Shanghai Yaohua Pilkington Glass Group Co., Ltd. plans to issue A-shares to specific investors to optimize its product structure and enhance market competitiveness, addressing the growing demand for high-end glass products in various industries [12][15][24]. Group 1: Issuance Plan - The company intends to raise a total of up to 300 million yuan (30,000 million) through this issuance, with the net proceeds allocated to specific projects [20][25]. - The issuance will be subject to approval from the Shanghai Stock Exchange and the China Securities Regulatory Commission [2][24]. - The final issuance price will not be lower than 80% of the average trading price over the 20 trading days prior to the pricing date [17][19]. Group 2: Investment Projects - The funds will be used for projects including energy-saving upgrades and automation improvements at the Dalian and Tianjin production lines, with a total investment requirement of approximately 404.75 million yuan [21][26]. - The Dalian project aims to enhance the production line's energy efficiency and product quality through technological upgrades [26]. Group 3: Market Context - The glass industry is experiencing a transformation towards high-end, energy-efficient products, driven by increasing demand in sectors such as automotive, photovoltaic, and construction [13][15]. - The company is positioned as a leading player in the glass industry, focusing on technological innovation and product upgrades to meet market needs [14][15]. Group 4: Financial Implications - The issuance is expected to strengthen the company's capital structure and improve its ability to respond to market changes, thereby enhancing its long-term sustainability [15][24]. - The company plans to utilize self-raised funds for project initiation before the issuance proceeds are available, ensuring project timelines are met [25].

Core Viewpoint - The company plans to issue A-shares to specific investors, which may dilute immediate returns, but has outlined measures to mitigate this impact and protect the interests of minority shareholders [1][2][4]. Financial Impact of the Issuance - The total share capital before the issuance is 934,916,069 shares, which will increase to 1,006,515,114 shares post-issuance [2]. - The company analyzed three scenarios for net profit in 2025 compared to 2024: 1. No change in net profit, resulting in basic earnings per share (EPS) of 0.12 [3]. 2. A 10% increase in net profit, leading to an EPS of 0.14 [3]. 3. A 10% decrease in net profit, resulting in an EPS of 0.11 [3]. Necessity and Rationality of the Issuance - The funds raised will enhance the company's competitive strength and support sustainable development, aligning with national industrial policies and market trends [4][5]. - The investment projects include energy upgrades and automation improvements in existing production lines, which are crucial for maintaining technological leadership and market share [5][6]. Relationship of Investment Projects to Existing Business - The fundraising will primarily support energy upgrades and automation in production lines, directly related to the company's core business [5][6]. - The company aims to improve operational efficiency and reduce financial risk through better capital structure and increased liquidity [5][6]. Measures to Mitigate Dilution of Immediate Returns - The company will strengthen its core business and enhance profitability through R&D and market expansion [7][8]. - Strict management of raised funds will be implemented to ensure effective utilization and compliance with regulations [8][9]. - The company will improve governance and internal controls to protect shareholder interests and enhance operational efficiency [9][10]. Commitments from Key Stakeholders - Company directors and senior management have committed to fulfilling measures to mitigate the dilution of immediate returns [10]. - The controlling shareholder has also made commitments to uphold shareholder rights and ensure the effective implementation of return compensation measures [10].