南通海星电子股份有限公司 2024 年度募集资金存放与实际使用情况的专项报告 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。 根据中国证券监督管理委员会《上市公司监管指引第 2 号——上市公司募集资金管理和 使用的监管要求》和上海证券交易所印发的《上海证券交易所上市公司自律监管指引第 1 号 ——规范运作》及相关格式指引的规定，南通海星电子股份有限公司（以下简称"公司"或"本 公司"）董事会对 2024 年度募集资金的存放与实际使用情况做如下专项报告： 一、募集资金基本情况 （一）实际募集资金金额、资金到位时间 经中国证券监督管理委员会《关于核准南通海星电子股份有限公司非公开发行股票的批 复》（证监许可〔2021〕824 号）核准，本公司由主承销商国投证券股份有限公司（以下简 称"国投证券"，原名"安信证券股份有限公司"）采用余额包销方式，向特定对象发行股 份人民币普通股（A 股）股票 31,200,000 股，发行价为每股人民币 22.00 元，共计募集资金 686,400,000.00 元，坐扣承销和保荐费用 6,775, ...

南通海星电子股份有限公司 对会计师事务所履职情况评估报告 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司治 理准则》《上海证券交易所上市公司自律监管指引第 1 号——规范运作》《国 有企业、上市公司选聘会计师事务所管理办法》和南通海星电子股份有限公司 （以下简称"公司"）《公司章程》等规定和要求，公司对天健会计师事务所 （以下简称"天健所"）2024 年审计过程中的履职情况进行评估。经评估，公 司认为天健所在审计资质等方面合规有效，履职保持独立性，勤勉尽责，公允 表达意见，具体情况如下： 1 人次、监督管理措施 32 人次、自律监管措施 24 人次、纪律处分 13 人次，未受 到刑事处罚。 项目合伙人、签字注册会计师、项目质量复核人员近三年不存在因执业行 为受到刑事处罚，受到证监会及其派出机构、行业主管部门等的行政处罚、监 督管理措施，受到证券交易所、行业协会等自律组织的自律监管措施、纪律处 分的情况。 天健所及项目合伙人、签字注册会计师、项目质量复核人员不存在可能影 响独立性的情形。 三、质量管理水平 一、资质情况 天健会计师事务所（特殊普通合伙）（以下简称"天健"）成立于 2011 年 7 ...

证券代码：603115 证券简称：海星股份 公告编号：2025-014 南通海星电子股份有限公司 关于召开 2024 年年度股东大会的通知 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： 一、 召开会议的基本情况 (一)股东大会类型和届次 2024 年年度股东大会 (二)股东大会召集人：董事会 (三)投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结合的 方式 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 5 月 16 日 15 点 00 分 召开地点：公司会议室 (五)网络投票的系统、起止日期和投票时间。 股东大会召开日期：2025年5月16日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2025 年 5 月 16 日 至 2025 年 5 月 16 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开当日的交易时间段，即 9:15-9:25，9:3 ...

本公司监事会及全体监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、监事会会议召开情况 南通海星电子股份有限公司（以下简称"公司"）第四届监事会第十八次会议 通知于 2025 年 4 月 3 日以邮件、专人送达等方式送达各位监事。会议于 2025 年 4 月 17 日以现场表决的方式在公司总部会议室召开。本次会议应出席监事 3 人， 实际出席监事 3 人，其中现场参会监事 3 名。会议由监事会主席胡广军先生召集 并主持。本次会议的召开符合《中华人民共和国公司法》《公司章程》等有关法 律、法规、规范性文件的规定，程序合法。 二、监事会会议审议情况 经与会监事认真讨论，审议并通过如下事项： 证券代码：603115 证券简称：海星股份 公告编号：2025-006 南通海星电子股份有限公司 第四届监事会第十八次会议决议公告 1、审议通过《关于公司 2024 年度监事会工作报告的议案》 表决结果：同意 3 票；反对 0 票；弃权 0 票。 经与会监事审议，一致通过《关于公司 2024 年度监事会工作报告的议案》， 同意《2024 年度监事会工作报告》。 ...

证券代码：603115 证券简称：海星股份 公告编号：2025-005 南通海星电子股份有限公司 第五届董事会第八次会议决议公告 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 南通海星电子股份有限公司（以下简称"公司"）第五届董事会第八次会 议通知于 2025 年 4 月 3 日以邮件、专人送达等方式送达各位董事。会议于 2025 年 4 月 17 日以现场和通讯相结合的方式在公司会议室召开。本次会议应 出席董事 9 人，实际出席董事 9 人，其中，以现场方式参会董事 8 名，以通讯 方式参会董事 1 名。本次会议由董事长周小兵先生召集并主持，公司监事、高 级管理人员、离任独立董事顾卫平及其他管理人员列席了本次会议。本次会议 的召开符合《中华人民共和国公司法》《公司章程》等有关法律、法规、规范 性文件的规定，程序合法。 二、董事会会议审议情况 经与会董事认真讨论，审议并通过如下议案： 1、审议通过《关于公司 2024 年度总经理工作报告的议案》 表决结果：同意 9 票；反对 0 票；弃权 0 票。 2 ...

（一）利润分配方案的具体内容 经天健会计师事务所（特殊普通合伙）审计，截至 2024 年 12 月 31 日，南 通海星电子股份有限公司（以下简称"公司"）期末可供全体股东分配的利润为 人民币 152,086,709.70 元，经董事会决议，公司 2024 年度拟以实施权益分派股 权登记日登记的总股本为基数分配利润。本次利润分配方案如下： 公司拟向全体股东每股派发现金红利 0.6 元（含税）。截至 2024 年 12 月 31 日公司总股本为 239,200,000 股，以此计算合计拟派发现金红利 143,520,000.00 元（含税）。本年度公司现金分红总额 143,520,000.00 元，占本年度归属于公司 股东净利润的比例为 89.20%。 证券代码：603115 证券简称：海星股份 公告编号：2025-008 南通海星电子股份有限公司 2024 年度利润分配方案的公告 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 一、2024 年度利润分配方案内容 如在本公告披露之日起至实施权益分派股权登记日期间， ...

一、主要会计数据和财务指标 三、分红送配方案情况 10派6.0元(含税) 二、前10名无限售条件股东持股情况 前十大流通股东累计持有： 17598.3万股，累计占流通股比： 73.58%，较上期变化： 345.77万股。 | 名称 | 持有数量(万股) | 占总股本比例 | 增减情况 | | --- | --- | --- | --- | | | | (%) | (万股) | | 南通新海星投资集团股份有限公司 | 14118.00 | 59.02 | 不变 | | 南通联力投资管理有限公司 | 1482.00 | 6.20 | 不变 | | 江苏中联科技集团有限公司 | 478.40 | 2.00 | 不变 | | 南通盛世金濠投资管理有限公司-南通江海产业发展投资 基金(有限合伙) | 454.00 | 1.90 | 不变 | | 招商量化精选股票A | 420.19 | 1.76 | 229.18 | | 熊伟 | 171.00 | 0.71 | 新进 | | 海南热风农场管理有限公司 | 150.00 | 0.63 | 14.81 | | 王明颐 | 133.33 | 0.56 | 不变 | | 郑勇 ...

Financial Performance - The company's operating revenue for Q1 2025 reached ¥506,311,710.59, representing a 25.53% increase compared to ¥403,345,883.27 in the same period last year[4] - Net profit attributable to shareholders increased by 48.52% to ¥22,693,674.11 from ¥15,279,549.56 year-on-year[4] - The net profit after deducting non-recurring gains and losses surged by 145.21%, amounting to ¥22,650,453.42 compared to ¥9,237,302.97 in the previous year[4] - Basic and diluted earnings per share both rose by 50.00%, reaching ¥0.09 from ¥0.06 in the same period last year[4] - Total operating revenue for Q1 2025 reached ¥506,311,710.59, a 25.6% increase from ¥403,345,883.27 in Q1 2024[21] - Net profit for Q1 2025 was ¥22,693,674.11, representing a 48.7% increase compared to ¥15,279,549.56 in Q1 2024[22] - Basic and diluted earnings per share for Q1 2025 were both ¥0.09, up from ¥0.06 in Q1 2024[23] - Total comprehensive income for Q1 2025 was ¥21,727,915.31, an increase from ¥15,646,566.58 in Q1 2024[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,644,320,066.20, a 0.92% increase from ¥2,620,332,357.18 at the end of the previous year[6] - Current assets totaled CNY 1,705,652,441.74, slightly down from CNY 1,715,191,764.99 at the end of 2024[16] - Cash and cash equivalents decreased to CNY 512,946,640.65 from CNY 577,618,002.70[15] - Accounts receivable increased to CNY 423,469,804.73 from CNY 416,703,783.18[16] - Inventory rose to CNY 315,149,614.08 compared to CNY 282,786,988.65 at the end of 2024[16] - Total liabilities were CNY 584,237,601.91, slightly up from CNY 583,665,708.19[17] - Non-current assets increased to CNY 938,667,624.46 from CNY 905,140,592.19[16] - The total liabilities and equity amounted to ¥2,644,320,066.20, up from ¥2,620,332,357.18 in the previous year[18] Cash Flow - The net cash flow from operating activities was negative at -¥9,828,615.80, worsening from -¥3,453,362.59 in the previous year[4] - Cash flow from operating activities for Q1 2025 showed a net outflow of ¥9,828,615.80, compared to a net outflow of ¥3,453,362.59 in Q1 2024[25] - Cash inflow from investment activities in Q1 2025 was ¥50,459,169.24, down from ¥91,815,298.34 in Q1 2024[25] - Cash outflow from investment activities for Q1 2025 totaled ¥134,289,873.40, compared to ¥151,712,523.06 in Q1 2024[25] - The net increase in cash and cash equivalents was -$68,139,575.52[27] - The beginning balance of cash and cash equivalents was $441,955,275.02[27] - The ending balance of cash and cash equivalents was $373,815,699.50[27] Shareholder Information - The company reported a total of 14,649 common shareholders at the end of the reporting period[11] - There were no significant changes in the top 10 shareholders or their shareholding percentages[13] Other Information - The weighted average return on equity increased by 0.34 percentage points to 1.11% from 0.77%[4] - Non-recurring gains and losses amounted to a net total of ¥43,220.69 for the period[9] - The company has not disclosed any new product developments or market expansion strategies during the reporting period[14] - The company reported a decrease in short-term borrowings and other current liabilities[17] - The company's capital reserve increased to ¥1,108,919,584.07 from ¥1,107,231,684.08 year-over-year[18] - Cash inflow from financing activities totaled $25,000,000[27] - Net cash flow from financing activities was $25,000,000[27] - The impact of exchange rate changes on cash and cash equivalents was $519,744.44[27]

Financial Performance - The company's operating revenue for 2024 reached RMB 1,927,965,255.64, representing a year-on-year increase of 7.68% compared to RMB 1,790,465,276.78 in 2023[22]. - The net profit attributable to shareholders of the listed company was RMB 160,904,727.93, up 17.63% from RMB 136,788,665.07 in the previous year[22]. - The net profit after deducting non-recurring gains and losses was RMB 147,014,962.85, reflecting a 24.82% increase from RMB 117,785,533.22 in 2023[22]. - The basic earnings per share for 2024 was RMB 0.67, an increase of 17.54% compared to RMB 0.57 in 2023[24]. - The total assets of the company at the end of 2024 amounted to RMB 2,620,332,357.18, a 9.43% increase from RMB 2,394,547,881.99 at the end of 2023[23]. - The company's net assets attributable to shareholders increased by 2.39% to RMB 2,036,666,648.99 compared to RMB 1,989,143,910.57 at the end of 2023[23]. - The company plans to distribute a cash dividend of RMB 6.0 per 10 shares, totaling RMB 143,520,000, which accounts for 89.20% of the net profit for 2024[6]. - The weighted average return on net assets increased to 8.04% from 6.86% in the previous year, indicating improved profitability[24]. - The company reported a significant decrease in cash flow from operating activities, which was RMB 61,304,470.53, down 66.00% from RMB 180,293,481.42 in 2023[22]. Revenue Breakdown - The total operating revenue for the first quarter of 2024 was CNY 403.35 million, with net profit attributable to shareholders of CNY 15.28 million[27]. - The total operating revenue for the second quarter of 2024 was CNY 495.53 million, with net profit attributable to shareholders of CNY 35.53 million[27]. - The total operating revenue for the third quarter of 2024 was CNY 509.78 million, with net profit attributable to shareholders of CNY 53.23 million[27]. - The total operating revenue for the fourth quarter of 2024 was CNY 519.32 million, with net profit attributable to shareholders of CNY 56.86 million[27]. Research and Development - The company has a research and development team of 127 people, accounting for 14.06% of the total workforce, with 73 invention patents and 205 utility model patents[36]. - The company plans to allocate 6.82% of its operating revenue to research and development expenses in 2024[45]. - The company aims to enhance production capacity and optimize product structure, focusing on applications in new energy and AI servers[73]. - The company plans to increase R&D investment and strengthen collaboration with research institutions to boost technological innovation and accelerate domestic substitution[73]. Market Trends and Opportunities - The demand for aluminum electrolytic capacitors, which use electrode foil as a core material, is expected to grow significantly due to the rapid development of new energy vehicles and AI servers[42][41]. - The market for AI servers is projected to grow from 21.1 billion USD in 2023 to 31.79 billion USD by 2025, with a CAGR of 22.7%[42]. Governance and Compliance - The company has a robust governance structure, holding 1 annual and 4 extraordinary shareholder meetings during the reporting period[78]. - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with legal requirements[79]. - The company disclosed 4 periodic reports and 61 temporary announcements during the reporting period, ensuring timely and accurate information for investors[80]. - The company actively established and optimized internal control systems to enhance risk prevention capabilities and operational standards[80]. - The company maintained independence from its controlling shareholders and actual controllers, with no significant impacts from related business activities[80]. Environmental Initiatives - The company invested 67.25 million yuan in environmental protection during the reporting period[121]. - The average concentration of COD in wastewater for Nantong Haixing Electronics Co., Ltd. was 15.9 mg/L, with a total annual discharge of 39.05 tons, below the control indicator of 119.91 tons[122]. - The company has established a comprehensive environmental monitoring program, ensuring all pollutant discharge indicators meet standards[127]. - The company has reduced carbon emissions by 4,865.15 tons through various carbon reduction measures[130]. Financial Management - The total amount of guarantees provided by the company, excluding subsidiaries, is 336,000,000.00 RMB, which accounts for 16.50% of the company's net assets[147]. - The total amount of guarantees provided to subsidiaries during the reporting period is 416,000,000.00 RMB[147]. - The company has engaged in cash asset management through entrusted financial products, with a total investment of 30,000.00 RMB[149]. - The expected annual yield for entrusted financial products ranges from 1.3% to 3.2176%[149]. Shareholder Information - The total number of common shareholders as of the end of the reporting period is 12,186, down from 14,649 at the end of the previous month[163]. - The largest shareholder, Nantong Xinhai Star Investment Group Co., Ltd., holds 141,180,000 shares, representing 59.02% of the total shares[165]. - The top ten shareholders collectively hold a significant portion of the company's shares, with the largest three shareholders alone accounting for over 65%[165]. Risk Factors - The company faces market competition risks, particularly from peers in the electrode foil industry, which may impact its competitive position[75]. - Fluctuations in raw material and energy prices pose risks to the company's profitability, particularly due to the reliance on aluminum and electricity[76]. - Changes in macroeconomic conditions and national industrial policies could adversely affect the company's future performance if not addressed promptly[76].

Summary of Haixing Co., Ltd. Conference Call Company Overview - Haixing Co., Ltd. specializes in the production of aluminum electrolytic capacitor electrode foils, headquartered in Nantong, Jiangsu. The company has nearly 40 years of history and ranks second in global market share. It is recognized as a national "specialized, refined, distinctive, and innovative" small giant enterprise and has been listed among China's top 100 electronic component companies for 26 consecutive years. Haixing has subsidiaries in Sichuan, Ningxia, Xinjiang, Hong Kong, Japan, and Shanghai [3][4]. Industry Position and Product Applications - Haixing is a leading enterprise in the aluminum electrolytic capacitor foil industry, with applications in consumer electronics, industrial control, military, new energy vehicle charging piles, photovoltaic inverters, and AI servers. The company holds a dominant position in the technically challenging low-voltage sector [4]. - The product mix includes approximately 30% low-voltage products and 70% medium and high-voltage products. Low-voltage products are primarily used in consumer electronics, automotive electronics, humanoid robots, and servers, while medium and high-voltage products are more focused on new energy applications [4][7]. Growth Drivers and Market Trends - The automotive electronics sector is a significant growth area for Haixing. Since 2019, the company has undertaken projects to address import substitution, achieving mass supply in 2023. It is expected that automotive electronics will account for 5% of total revenue in 2024, with significant growth anticipated in 2025, achieving a gross margin exceeding 40% [4][10]. - The AI server market is driving strong demand for high-voltage aluminum electrolytic capacitors. Haixing is establishing a new production base in Xinjiang, focusing on high-voltage capacitor foil production, with plans to add 20 million square meters of capacity, corresponding to an output value of 2 billion yuan [4][16][18]. Financial Performance and Margin Improvement - The improvement in gross margin is attributed to product mix optimization, with a higher proportion of high-margin products and a recovery in the electronic consumer market driving increased order demand. The company is operating at near full capacity, which helps to dilute fixed costs [4][34]. - The gross margin for low-voltage products is typically 5 to 10 percentage points higher than that of medium and high-voltage products. For instance, low-voltage products in automotive electronics have a gross margin exceeding 40%, while medium and high-voltage products have a margin around 20% [9][21]. Production Capacity and Expansion Plans - Haixing is continuously expanding its production capacity. By the end of 2024, the total capacity for low and medium-high voltage foils will reach 42 million square meters, increasing to 57 million square meters by the end of 2025, and 66 million square meters by the end of 2027, capturing approximately 15% of the global market share [4][28][29]. - The Xinjiang base benefits from nearly 30% lower electricity costs compared to other bases, with an estimated annual savings of about 200 million yuan from the new high-voltage capacity [4][31]. Competitive Landscape - The competitive landscape varies between low and medium-high voltage products. Low-voltage products face less competition due to their technical complexity, while medium-high voltage products have more competitors, leading to a more intense competitive environment [8][15]. - Haixing's high-voltage products, particularly for servers, represent the company's highest technical level, with a gross margin of approximately 38%, which is higher than the average but slightly lower than automotive products [21]. Future Outlook - The company anticipates a significant increase in revenue from server-related products, expecting to reach a revenue share of 4% in 2024, with a growth rate exceeding 50%. By 2025, the target is to achieve an 8% to 18% revenue share, driven by developments in AI and other downstream applications [23]. - Haixing's major shareholder has set ambitious growth targets, aiming for over 20% annual growth in revenue and profit from 2024 to 2027 [38]. Conclusion - Haixing Co., Ltd. is well-positioned for future growth, leveraging its technological advancements, production capacity expansions, and favorable market trends. The management's confidence in achieving positive results is reflected in their strategic plans and shareholder support [39].