Group 1 - The company plans to raise a maximum of 640 million yuan through a targeted stock issuance, with the net proceeds allocated to projects including the construction of a production line for 135,000 tons of DTY yarn and 120,000 tons of high-performance base fabric [1][15] - The project aims to address capacity bottlenecks and enhance the company's market position by increasing production capacity for both DTY yarn and base fabric [3][17] - The company has established a strong brand presence in the synthetic leather industry, driven by the growing demand in the bag, footwear, and automotive sectors, with projections indicating a significant increase in synthetic leather production and sales by 2025 [2][14] Group 2 - The project will enable the company to shift from relying on external suppliers for DTY yarn to internal production, improving product consistency, inventory management, and cost control [4][10] - The implementation of the project is supported by favorable government policies aimed at promoting the synthetic leather industry, which will enhance the company's competitive edge and market share [6][8] - The company has a solid technological foundation with numerous patents and a commitment to R&D, ensuring the successful execution of the project and the maintenance of product quality [11][12] Group 3 - The project is expected to generate significant economic benefits, with a total investment of 1.047 billion yuan, of which 640 million yuan will be funded through the stock issuance [15][18] - The company anticipates that the project will lead to increased revenue and profitability, strengthening its financial position and ability to withstand risks [17][18] - The expansion of production capacity aligns with the growing market demand for synthetic leather in various applications, including automotive interiors and furniture, providing a clear sales outlook for the company's products [14][16]

Fundraising Overview - The company raised a total of RMB 690.20 million by issuing 35 million shares at RMB 19.72 per share, with net proceeds amounting to RMB 626.51 million after deducting underwriting fees and other expenses [1][2] - The funds were deposited into a regulatory account managed by the lead underwriter, CITIC Securities, on November 15, 2022 [1] Fund Allocation and Usage - As of March 31, 2025, the company has utilized RMB 628.14 million of the raised funds, leaving a balance of RMB 0.21 million [3] - The company has not changed the purpose of the raised funds, and there have been no external transfers of investment projects [2][3] Investment Project Performance - The main investment project, a production line for high-performance leather base fabric with an annual capacity of 50,000 tons, has been completed and is in the trial production phase [4] - The project achieved a cumulative production capacity utilization rate of 63.29% in 2023, which was below expectations due to industry competition and fluctuating raw material costs [4] Cash Management of Idle Funds - The company approved the use of up to RMB 200 million of temporarily idle funds for cash management, which has been fully redeemed by March 31, 2025 [3] - The cash management activities included structured deposits and large-denomination certificates of deposit with various banks, generating interest income [3] Financial Reporting and Compliance - The company has complied with regulatory requirements, and the usage of funds has been verified by Tianjian Accounting Firm [1][2] - The company plans to permanently supplement its working capital with the remaining idle funds, as per the announcement made on November 25, 2023 [3]

Core Viewpoint - The company has established a three-year shareholder dividend return plan for 2025-2027 to enhance the transparency and operability of its profit distribution policy, ensuring a stable return for shareholders while considering sustainable development [1][2]. Factors Considered in the Plan - The plan takes into account the company's long-term sustainable development, operational strategies, shareholder expectations, social capital costs, external financing environment, current and future profitability, cash flow, investment needs, and bank credit conditions [1][2]. Principles for Developing the Plan - The plan aligns with relevant laws, regulations, and the company's articles of association, considering the actual operational situation, reasonable returns for shareholders, and cash flow [2][3]. Dividend Return Plan for 2025-2027 - The company will implement a continuous and stable profit distribution policy, prioritizing cash dividends while also considering stock dividends and other legal methods [2][3]. - The company aims to distribute cash dividends at least once a year, with the board able to propose mid-term cash dividends based on profitability and funding needs [2][3]. Conditions for Cash Dividends - Cash dividends will be distributed if the company has positive distributable profits, sufficient cash flow, and no major investment plans or cash expenditures [3][4]. - The minimum cash dividend will be at least 10% of the distributable profits for the year, with a cumulative minimum of 30% over the last three years [3][4]. Differentiated Cash Dividend Policy - The cash dividend proportion will vary based on the company's development stage and funding needs, with specific minimum percentages set for mature and growth stages [4][5]. Decision-Making Process for Dividend Distribution - The board will carefully consider the timing, conditions, and minimum ratios for cash dividends, requiring a majority vote for approval before submission to the shareholders' meeting [4][5]. Communication with Shareholders - The company will engage with shareholders, especially minority shareholders, to gather opinions and address concerns regarding dividend policies [5][6]. Review and Adjustment of the Plan - The dividend return plan will be reviewed every three years, with adjustments made based on operational conditions and shareholder feedback [6].

Core Viewpoint - The company plans to issue A-shares to specific investors, which will dilute immediate returns but includes measures to compensate for this dilution [1][4][8]. Financial Impact - The issuance will increase the total share capital from 137,514,200 shares to 178,768,460 shares [2][3]. - Three scenarios for net profit after non-recurring gains for 2025 are considered: a 10% increase, no change, and a 10% decrease compared to 2024 [1][2]. Issuance Necessity and Reasonableness - The total amount raised from the issuance will not exceed 640 million yuan, which will be invested in a project to produce 135,000 tons of DTY yarn and 120,000 tons of high-performance leather base fabric [4][5]. - The project aims to enhance production capacity and improve product quality, thereby increasing market share and competitiveness [6][7]. Project Relationship with Existing Business - The investment project is aligned with the company's current operations and aims to upgrade production capacity and extend the industrial chain [6][7]. - The project will allow the company to control product quality more effectively by shifting from external procurement to internal production of key raw materials [6][7]. Human Resources, Technology, and Market Readiness - The company has a strong team of experienced personnel in DTY yarn and fabric production, ensuring effective project implementation [6][7]. - The company possesses significant technological capabilities with numerous patents, which will support the successful execution of the project [7]. - The project is expected to have a positive market reception, with a substantial portion of production being absorbed internally, enhancing the company's market influence [7]. Measures to Mitigate Dilution of Immediate Returns - The company will strengthen the supervision of raised funds to ensure they are used effectively and legally [9]. - There will be an emphasis on accelerating project construction to enhance profitability and shareholder returns [9][10]. - The company will maintain and optimize its profit distribution system to reinforce investor return mechanisms [10]. Commitments to Ensure Implementation of Compensation Measures - The controlling shareholder and management have made commitments to ensure the effectiveness of measures to compensate for the dilution of immediate returns [11]. - These commitments include adherence to regulatory requirements and accountability for any losses incurred due to non-compliance [11].

Core Viewpoint - Zhejiang Yunzhongma Co., Ltd. has not faced any penalties from regulatory authorities in the last five years, but received one regulatory attention letter regarding financial reporting inaccuracies [1][2][3] Summary by Sections Regulatory Penalties - The company has not been penalized by securities regulatory authorities or the Shanghai Stock Exchange in the past five years [1] Regulatory Measures - The company received one regulatory attention letter (Zhe Zheng Jian Gong Si Zi [2025] No. 106) concerning inaccuracies in its 2024 annual report and 2025 Q1 report, which did not affect its financial status or operating results [2] - The inaccuracies included misstatements in the consolidated balance sheets and profit statements related to inventory and financial expenses [2] Remedial Actions - Following the receipt of the regulatory attention letter, the company has taken the matter seriously, enhancing its focus on financial accounting and information disclosure management [3] - The company has implemented regular self-inspection by the finance department, improved internal information disclosure review processes, and strengthened compliance training [3] - A written report on the corrective actions has been submitted to the Zhejiang Regulatory Bureau of the China Securities Regulatory Commission on May 22, 2025 [3]

证券代码：603130 证券简称：云中马 公告编号：2025-019 浙江云中马股份有限公司 第三届监事会第十三次会议决议公告 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 浙江云中马股份有限公司（以下简称"公司"）第三届监事会第十三次会议 于 2025 年 5 月 22 日以现场结合通讯的方式在公司会议室召开。会议通知经全体 监事同意，豁免通知时限的要求，于当日以电话、口头的方式发出。会议应出席 监事 3 人，实际出席监事 3 人（其中：单晓秋以通讯方式出席）。会议由监事会 主席单晓秋女士召集并主持，会议的召集、召开和表决程序符合《中华人民共和 国公司法》等相关法律法规、部门规章、规范性文件及《浙江云中马股份有限公 司章程》 《公司章程》"）的规定。全体监事经过审议，以记名投票方 式通过了如下决议： 二、监事会会议审议情况 本次会议审议并通过了以下事项： （以下简称" （一）审议通过《关于公司符合向特定对象发行股票条件的议案》 根据《中华人民共和国公司法》 《中华人民共和国证券法》 《上市公司证券发 ...

浙江云中马股份有限公司 2025年度向特定对象发行A股股票预案 证券简称：云中马 证券代码：603130 浙江云中马股份有限公司 2025 年度向特定对象发行 A 股股票预案 二〇二五年五月 浙江云中马股份有限公司 2025年度向特定对象发行A股股票预案 公司声明 1、公司及董事会全体成员保证本预案内容真实、准确、完整，并确认不存 在虚假记载、误导性陈述或重大遗漏。 2、本预案按照《上市公司证券发行注册管理办法》等法规及规范性文件的 要求编制。 3、本次向特定对象发行股票完成后，公司经营与收益的变化由公司自行负 责；因本次向特定对象发行股票引致的投资风险，由投资者自行负责。 4、本预案是公司董事会对本次向特定对象发行股票的说明，任何与之相反 的声明均属不实陈述。 浙江云中马股份有限公司 2025年度向特定对象发行A股股票预案 特别提示 本部分所述词语或简称与本预案"释义"所述词语或简称具有相同含义。 1、公司本次向特定对象发行 A 股股票的相关事项已经公司第三届董事会第 十八次会议审议通过，尚需公司股东大会审议通过。本次向特定对象发行 A 股 股票的相关事项尚需上海证券交易所审核通过并经中国证监会作出予以注册 ...

证券简称：云中马 证券代码：603130 浙江云中马股份有限公司 2025 年度向特定对象发行 A 股股票方案 论证分析报告 二〇二五年五月 第一节 本次向特定对象发行股票的背景和目的 为满足公司业务发展的资金需求，增强公司的资本实力和盈利能力，根据《公 司法》《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》"）等有关法律、行政法规、部门规章或规范性文件和《公司章程》的规定， 浙江云中马股份有限公司（以下简称"公司"）编制了 2025 年度向特定对象发行 A 股股票方案论证分析报告。 本论证分析报告中如无特别说明，相关用语具有与《浙江云中马股份有限公司 2025 年度向特定对象发行 A 股股票预案》中相同的含义。 一、本次向特定对象发行股票的背景 （一）产业发展相关利好政策 近年来，伴随着我国人造革合成革基层材料产业向高端化、功能化方向的加速 升级，政府对行业的重视程度也在逐步提高。中央及各地政府先后发布了多项法律 法规及政策来促进行业的发展。 （二）中国纺织工业稳步发展，产业用纺织品赋能多元领域 作为全球规模最大的纺织品服装生产、消费及出口经济体，中国构建了覆盖纤 维原料、纺织加工、 ...

关于向特定对象发行 A 股股票预案披露的 证券代码:603130 证券简称:云中马 公告编号：2025-020 浙江云中马股份有限公司 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。 浙江云中马股份有限公司（以下简称"公司"）于 2025 年 5 月 22 日召开 第三届董事会第十八次会议、第三届监事会第十三次会议，审议通过了《关于 公司 2025 年度向特定对象发行 A 股股票方案的议案》《关于公司<2025 年度向 特定对象发行 A 股股票预案>的议案》等公司向特定对象发行 A 股股票（以下简 称"本次向特定对象发行"）的相关议案。 《浙江云中马股份有限公司 2025 年度向特定对象发行 A 股股票预案》及相 关文件已于同日在上海证券交易所网站（www.sse.com.cn）披露，敬请广大投 资者注意查阅。 提示性公告 上述预案及相关文件的披露不代表审批机关对于本次向特定对象发行相关 事项的实质性判断、确认或批准，本次向特定对象发行相关事项的生效和完成 尚待公司股东大会审议通过、上海证券交易所审核通过并经中国证券监督管理 ...

浙江云中马股份有限公司独立董事 关于公司 2025 年度向特定对象发行 A 股股票方案论证分析报告 的专项意见 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司独立董 事管理办法》《上市公司证券发行注册管理办法》《上海证券交易所股票上市规则》 等相关规定以及《浙江云中马股份有限公司章程》(以下简称"《公司章程》")的 有关规定,我们作为浙江云中马股份有限公司(以下简称"公司")的独立董事, 现对公司 2025 年度向特定对象发行 A 股股票方案的论证分析报告发表专项意见 如下: 公司编制的《浙江云中马股份有限公司 2025年度向特定对象发行 A 股股票 方案论证分析报告》综合考虑了公司发展战略、相关行业发展趋势、财务状况、 资金需求等情况,充分论证了本次发行股票的必要性,本次发行对象的选择范围、 数量和标准的适当性,本次发行定价的原则、依据、方法和程序的合理性,以及 本次发行方案的公平性、合理性等事项,符合公司及股东的利益,不存在损害公 司及股东特别是中小股东利益的情形,符合中国证券监督管理委员会、上海证券 交易所及《公司章程》的有关规定。 综上,我们同意公司编制的《浙江云中马股份有限公司 20 ...