2025 年第一次临时股东大会 之 法律意见书 上海东方华银律师事务所 法律意见书 上海东方华银律师事务所 关于上海凯众材料科技股份有限公司 上海东方华银律师事务所 上海市虹桥路 1591 号虹桥迎宾馆 34 号楼 电话：(8621) 68769686 上海东方华银律师事务所 法律意见书 上海东方华银律师事务所 关于上海凯众材料科技股份有限公司 2025 年第一次临时股东大会的法律意见书 致：上海凯众材料科技股份有限公司 上海东方华银律师事务所（以下简称"本所"）接受上海凯众材料科技股份 有限公司（以下简称"贵司"或"公司"）委托，就贵司召开 2025 年第一次临 时股东大会的有关事宜，根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《上市公司股东会规则》（以下简称"《股东会规则》"）等法律、法规和其他 规范性文件以及《上海凯众材料科技股份有限公司章程》（以下简称"《公司章 程》"）的有关规定，出具本法律意见书。 为出具本法律意见书，本所律师审查了公司提供的本次股东大会的相关资 料，包括但不限于公司召开 2025 年第一次临时股东大会的通知、公司 2025 年第 一次临时股东大会的议程、议案及决议等 ...

Group 1 - As of August 21, 2025, the stock price of Kaizhong Co., Ltd. is 12.80 yuan, with a decrease of 0.03 yuan, representing a decline of 0.23% from the previous trading day [1] - The trading volume on the same day was 59,194 hands, with a transaction amount of 0.76 billion yuan, and a turnover rate of 2.22% [1] - The company primarily engages in the automotive parts business, including products such as automotive shock absorber components and suspension system parts [1] - The total market capitalization of the company is 34.31 billion yuan, with a price-to-earnings ratio of 68.50 times [1] Group 2 - On August 21, 2025, the net inflow of main funds into Kaizhong Co., Ltd. was 594,200 yuan, while the net outflow over the past five days was 980,320 yuan [2] - The company announced that the board and supervisory board re-election will be postponed until after the issuance of convertible bonds is completed [1] - The actual controller of the company signed a supplementary agreement to the "Joint Action Agreement," extending its validity until the completion of the board re-election [1]

证券代码：603037 证券简称：凯众股份 公告编号：2025-044 上海凯众材料科技股份有限公司 关于董事会、监事会延期换届及独立董事任期届满、 上海凯众材料科技股份有限公司（以下简称"公司"）第四届董事会、监事 会任期将于 2025 年 8 月 21 日届满，根据《中华人民共和国公司法》《上市公司 章程指引》《关于新 <公司法> 配套制度规则实施相关过渡期安排》等要求，鉴于 公司正处于发行可转债期间，为了发行工作顺利推进，公司拟将换届工作延期到 发行工作结束后进行，为确保相关工作的连续性和稳定性，公司第四届董事会、 监事会将延期换届，第四届董事会各专门委员会及高级管理人员的任期亦相应顺 延。在换届选举工作完成之前，公司第四届董事会及专门委员会全体成员、第四 届监事会全体成员、高级管理人员将按照相关法律法规和《公司章程》等有关规 定，继续履行相应的职责和义务。 公司董事会、监事会延期换届不会影响公司的正常运营。公司将积极推进 董事会、监事会换届选举工作，并按照相关规定及时履行信息披露义务。 二、独立董事任期届满的情况 根据《上市公司独立董事管理办法》、《公司章程》等相关规定，上市公司 独立董事占董事会成员 ...

Core Points - Shanghai Kaizhong Materials Technology Co., Ltd. has received approval from the China Securities Regulatory Commission to issue convertible bonds, with the total issuance amount being 308.447 million yuan [1][2] - The bonds will be named "Kaizhong Convertible Bonds" with the bond code "113698" [1][3] Subscription Results - Original shareholders subscribed for 232,461 hands, amounting to 232,461,000 yuan [2] - Public investors subscribed for 74,363 hands, with a total subscription amount of 74,363,000 yuan, while 1,623 hands were abandoned [2] - The total subscription amount for the convertible bonds was 308,447,000 yuan, with the under-subscription being covered by the lead underwriter [2] Underwriter Information - The lead underwriter for this issuance is Guotai Junan Securities Co., Ltd. [1][3] - The underwriter will cover all abandoned subscriptions and will handle the registration of the bonds with the China Securities Depository and Clearing Corporation [2]

证券代码：603037 证券简称：凯众股份 公告编号：2025-044 上海凯众材料科技股份有限公司 关于董事会、监事会延期换届及独立董事任期届满、 实控人一致行动协议延期的提示性公告 第一条 各方同意将《一致行动协议》有效期限延长至公司第四届董事会 换届完成之日（即股东大会审议通过董事会换届议案，选举产生第五届董事会之 日），各方在公司第四届董事会延期换届期间继续保持一致行动。 第二条 前述有效期限届满后，如果各方未签订新的一致行动协议，则前 述《一致行动协议》 和本补充协议自动终止。 一、董事会、监事会延期换届 上海凯众材料科技股份有限公司（以下简称"公司"）第四届董事会、监事 会任期将于 2025 年 8 月 21 日届满，根据《中华人民共和国公司法》《上市公司 章程指引》《关于新<公司法>配套制度规则实施相关过渡期安排》等要求，鉴于 公司正处于发行可转债期间，为了发行工作顺利推进，公司拟将换届工作延期到 发行工作结束后进行，为确保相关工作的连续性和稳定性，公司第四届董事会、 监事会将延期换届，第四届董事会各专门委员会及高级管理人员的任期亦相应顺 延。在换届选举工作完成之前，公司第四届董事会及专门委员会 ...

证券代码：603037 证券简称：凯众股份 公告编号：2025-043 上海凯众材料科技股份有限公司 向不特定对象发行可转换公司债券发行结果公告 保荐人（主承销商）：国泰海通证券股份有限公司 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： 上海凯众材料科技股份有限公司（以下简称"发行人"或"公司"） 向不特定对 象发行可转换公司债券（以下简称"可转债"）已获得中国证券监督管理委员会（以 下简称"中国证监会"）证监许可〔2025〕1244 号文同意注册。本次发行的保荐人 （主承销商）为国泰海通证券股份有限公司（以下简称"保荐人（主承销商）"或 "国泰海通"）。本次发行的可转债简称为"凯众转债"，债券代码为"113698"。 | 类别 | 认购数量（手） | 放弃认购数量（手） | | --- | --- | --- | | 原股东 | 232,461 | 0 | | 网上社会公众投资者 | 74,363 | 1,623 | | 网下机构投资者 | - | - | | 主承销商包销数量（放弃 | | 1,623 | ...

Core Points - Shanghai Kaizhong Materials Technology Co., Ltd. has conducted an online lottery for its convertible bonds, with the event supervised by relevant representatives to ensure fairness and transparency [1] - A total of 75,986 winning numbers were announced, with each winning number eligible for a subscription of 1 lot (1,000 yuan) of Kaizhong convertible bonds [1] Summary by Sections - **Company Information** - The issuer of the convertible bonds is Shanghai Kaizhong Materials Technology Co., Ltd. [1] - The lead underwriter for the bond issuance is Guotai Junan Securities Co., Ltd. [2] - **Issuance Details** - The online lottery for the convertible bonds took place on August 18, 2025 [1] - The lottery results were notarized by the Shanghai Oriental Notary Office [1] - **Winning Numbers** - Winning numbers include specific sequences ending in 6, 7, 9, and 10, with a total of 75,986 winning numbers announced [1]

证券代码：603037 证券简称：凯众股份 公告编号：2025-042 上海凯众材料科技股份有限公司 向不特定对象发行可转换公司债券 网上中签结果公告 保荐人（主承销商）：国泰海通证券股份有限公司 根据《上海凯众材料科技股份有限公司向不特定对象发行可转换公司债券发 行公告》，本次发行的发行人上海凯众材料科技股份有限公司（以下简称"凯众 股份"）及保荐人（主承销商）国泰海通证券股份有限公司于 2025 年 8 月 18 日 （T+1 日）主持了凯众股份可转换公司债券（以下简称"凯众转债"）网上发行中 签摇号仪式。摇号仪式按照公开、公平、公正的原则在有关单位代表的监督下进 行，摇号结果经上海市东方公证处公证。现将中签结果公告如下： | 末尾位数 | 中签号码 | | --- | --- | | 末"6"位数 | 638950,763950,888950,513950,388950,263950,138950,013950 | | 末"7"位数 | 1821857,3821857,5821857,7821857,9821857,6115714,1115714 | | 末"8"位数 | 18076518,380765 ...

Report Investment Rating - No industry investment rating is provided in the report. Core Viewpoints - The target price for the first - day of Kaizhong Convertible Bond is estimated to be between 134 and 139 yuan, and it is recommended to actively subscribe. The expected first - day conversion premium rate is in the range of 31% - 36%. The estimated first - day new - bond subscription winning rate is around 0.0023% - 0.0031% [3][21][22]. Summary by Directory 1. Kaizhong Convertible Bond New - Bond Subscription Analysis and Investment Suggestions 1.1 Convertible Bond Basic Terms Analysis - The issuance method of Kaizhong Convertible Bond is priority placement and online issuance. The bond and issuer ratings are AA-. The issuance scale is 308 million yuan, the initial conversion price is 12.7 yuan, the bond parity on August 15, 2025, is 102.36 yuan, the calculated pure bond value is 91.47 yuan. The conversion terms, redemption terms, and put - back terms are normal. The bond issuance scale is relatively low, with poor liquidity, a decent rating, and good bond floor protection. It's not difficult for institutions to include it in their portfolios, and there is no objection to primary participation [2][17]. 1.2 New - Bond Initial Listing Price Analysis - The company is mainly engaged in the R & D, production, and sales of shock - absorbing components for automobile chassis suspension systems and lightweight pedal assemblies for control systems, as well as the R & D, production, and sales of special polyurethane elastomers such as high - performance polyurethane load - bearing wheels in non - automotive parts fields. After deducting issuance fees, 218 million yuan of the raised funds is planned for the expansion project of the Nantong production base, and the remaining 90 million yuan is for supplementary working capital. The target price for the first - day of the convertible bond is estimated to be between 134 and 139 yuan [3][20][21]. 1.3 Convertible Bond New - Bond Subscription Winning Rate Analysis - The estimated first - day new - bond subscription winning rate is around 0.0023% - 0.0031%. As of the end of 2024, the top two shareholders held 19.75% of the shares in total, and the top ten shareholders held 46.70% in total. Assuming the old - shareholder placement ratio is 20% - 40%, the scale available for the market is 185 million - 247 million yuan. By referring to recent bond issuances, the winning rate is estimated at the above - mentioned level [4][22]. 2. Underlying Stock Fundamental Analysis 2.1 Company's Main Business and Upstream - Downstream Industry Situation - The company's main business is as described above. The upstream industries include those related to isocyanates, polyols, metal parts, etc., and the company has stable cooperation with upstream suppliers. The downstream is mainly passenger vehicle manufacturers [23][24]. 2.2 Company's Operating Conditions - From 2022 to Q1 2025, the company's operating income showed an upward trend, with year - on - year growth rates of 17.07%, 15.17%, 1.22%, and 1.59% respectively. The main business income mainly comes from the automotive parts business, with a proportion of over 95%. The comprehensive gross margin is generally stable, with fluctuations mainly caused by the power business. The company's period expenses, R & D expenses, and accounts receivable have all fluctuated in recent years. The accounts receivable amount has gradually increased, and the accounts receivable turnover rate has decreased. The net profit attributable to the parent company has fluctuated, and the profitability has also shown a fluctuating trend [26][28][30]. 2.3 Company's Equity Structure and Major Subsidiaries - As of the end of 2024, the company's equity structure was relatively dispersed, with no controlling shareholder. The top two shareholders held 19.75% of the shares in total, and the top ten shareholders held 46.70% in total. The company has 14 important subsidiaries [43]. 2.4 Company's Business Characteristics and Advantages - The company has advantages in personnel reserves, technical capabilities, and market foundation. It has a deep talent reserve in relevant fields, a strong technical foundation, and has established good cooperative relationships with many well - known domestic and international enterprises [46][47][48]. 2.5 Allocation of This Round of Raised Funds - The company plans to issue convertible bonds with a total raised funds of no more than 308 million yuan. After deducting issuance fees, 218 million yuan is for the expansion project of the Nantong production base, and 90 million yuan is for supplementary working capital. The Nantong project is expected to have an annual production capacity of 27 million polyurethane shock - absorbing components and 3.5 million lightweight pedal assemblies after completion [49].

Key Points - The company Shanghai Kaizhong Materials Technology Co., Ltd. has successfully issued convertible bonds amounting to 308.447 million yuan, with a total of 3,084,470 bonds at a price of 100 yuan each [4][5] - The issuance has received approval from the China Securities Regulatory Commission, and the bonds are referred to as "Kaizhong Convertible Bonds" with the bond code "113698" [1][4] - The subscription results indicate that original shareholders received 232,461 bonds, accounting for approximately 75.36% of the total issuance, while the public investors' subscription rate was 0.00087715, resulting in 75,986 bonds allocated [5][4] Subscription Details - The total number of valid subscription accounts for public investors was 8,703,034, with a total valid subscription amount of 8.662 billion yuan [5] - The company and the lead underwriter will conduct a lottery draw for the public subscription results on August 18, 2025, with the results announced on August 19, 2025 [5][2] - The lead underwriter, Guotai Junan Securities Co., Ltd., will underwrite any shortfall in subscriptions, with a maximum underwriting amount not exceeding 30% of the total issuance [3][4] Important Dates - The subscription period for original shareholders and public investors ended on August 15, 2025 [4] - The listing date for the Kaizhong Convertible Bonds will be announced separately [5]