上海市锦天城律师事务所 关于合盛硅业股份有限公司 2025 年第三次临时股东会的 法律意见书 地址：上海市浦东新区银城中路 501 号上海中心大厦 11/12 层 电话：021-20511000 传真：021-20511999 邮编：200120 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于合盛硅业股份有限公司 2025 年第三次临时股东会的 法律意见书 致：合盛硅业股份有限公司 为出具本法律意见书，本所及本所律师依据《律师事务所从事证券法律业务 管理办法》和《律师事务所证券法律业务执业规则（试行）》等规定，严格履行 了法定职责，遵循了勤勉尽责和诚实信用原则，对本次股东会所涉及的相关事项 进行了必要的核查和验证，核查了本所认为出具该法律意见书所需的相关文件、 资料。本所保证本法律意见书所认定的事实真实、准确、完整，所发表的结论性 意见合法、准确，不存在虚假记载、误导性陈述或者重大遗漏，并愿意承担相应 法律责任。 鉴此，本所律师根据上述法律、法规、规章及规范性文件的要求，按照律师 行业公认的业务标准、道德规范和勤勉尽责精神，现出具法律意见如下： 一、 本次股东会召集人资格及召集、召开的程序 ...

Group 1 - The organic silicon sector in A-shares experienced a significant increase, with the sector index rising nearly 3% as of the report time on November 17 [1] - The organic silicon index closed at 4639.55, up from the previous close of 4505.63, with a trading volume of 6.4 billion and a total transaction amount of 12.5 billion [2] - Key companies in the sector saw substantial gains, including Morning Light New Materials reaching a limit up, Dongyue Silicon Materials increasing over 11%, and other companies like Silicon Treasure Technology and He Sheng Silicon Industry also showing positive trends [3][4] Group 2 - A meeting for the actual controllers of the organic silicon industry is scheduled for November 18, which may establish production reduction targets [5] - Currently, most organic silicon manufacturers are in a state of suspended reporting and trading [5]

11月17日，A股有机硅板块午后拉升，截至发稿，板块指数涨近3%。 | W | | | 有机硅指数(8841032) | | | | --- | --- | --- | --- | --- | --- | | | | | 11-17 13:39:57 | | | | 4639.55 昨 | | | 4505.63 | 成交额 | 125亿 | | 133.92 | 2.97% | 今开 | 4530.72 | 成交量 | 6.4亿 | | 上 涨 | 13 | 가 물 | 0 | 下 跌 | 2 | | 最高价 | 4667.88 | 市盈率 | 73.9 | 近20日 | 29.32% | | 最低价 | 4427.45 | 市净率 | 2.15 | 今年来 | 83.06% | | 分时 | 五日 | 日K | 周Ｋ | 月K | 更多 ◎ | | 叠加 | | | | | | | 4667.88 | | | | | 3.60% | | | | | | | 0.00% | | 4343.38 | | | | | -3.60% | | 9:30 | | 11:30/13:00 | | | 15:00 | | ...

Group 1 - The core viewpoint of the news is that the organic silicon sector in the A-share market is experiencing a rally, with significant gains in several stocks, driven by the anticipation of a production reduction target to be discussed in an upcoming industry meeting [1] Group 2 - The organic silicon stocks that saw notable increases include Dongyue Silicon Material, which rose over 7%, and Chenguang New Materials, which increased over 4% [1] - Other companies in the sector that experienced gains of over 3% include Silbond Technology, Sanyou Chemical, Jianghan New Materials, and Hesheng Silicon Industry [1] Group 3 - The market capitalization and year-to-date performance of key companies in the organic silicon sector are as follows: - Dongyue Silicon Material: Market cap of 17 billion, YTD increase of 82.34% - Chenguang New Materials: Market cap of 4.768 billion, YTD increase of 31.68% - Silbond Technology: Market cap of 9.734 billion, YTD increase of 71.92% - Sanyou Chemical: Market cap of 14.2 billion, YTD increase of 29.08% - Jianghan New Materials: Market cap of 10.9 billion, YTD increase of 25.05% - Hesheng Silicon Industry: Market cap of 72.6 billion, YTD increase of 11.46% [2]

Group 1 - The organic silicon supply and demand are expected to improve marginally, indicating a potential upturn in the industry cycle [2][10][20] - The recent price increase of organic silicon DMC has reached 12,000-12,500 RMB/ton, with a daily maximum increase of 1,000 RMB/ton, marking a cumulative increase of over 1,000 RMB/ton since early November [2][10][12] - The industry has reached a consensus on "anti-involution," leading to a significant adjustment in the supply-demand structure, signaling the end of a prolonged period of industry downturn [2][10][12] Group 2 - The North Exchange chemical new materials sector saw a weekly increase of 0.21%, with the battery materials segment performing particularly well at +6.47% [3][26][28] - Key stocks in the North Exchange chemical new materials sector that performed well this week include Anda Technology (+13.15%), Litong Technology (+8.78%), and Nengzhiguang (+7.64%) [3][29][32] Group 3 - Donghe New Materials' fundraising project has been delayed until June 30, 2026, due to equipment selection optimization, extending the completion timeline by seven months [4][65] - The company has established subsidiaries in Singapore, the Netherlands, and the United States to expand its overseas market presence [4][65] Group 4 - The organic silicon industry is experiencing limited new capacity additions, with no new installations planned for 2025 and no additional capacity expected before the end of 2026 [13][15] - The apparent consumption of organic silicon in China has grown from 1,062,000 tons in 2019 to 1,816,000 tons in 2024, with a CAGR of 11.3% [16][17]

截至本公告日，合盛硅业股份有限公司（以下简称"公司"）控股股东宁波合盛集团有限公司（以下简 称"合盛集团"）直接持有公司股份486,647,073股，占公司总股本的41.16%。本次解质押后，合盛集团累 计质押股份为240,909,100股，占其所持股份比例的49.50%，占公司总股本比例的20.38%。 登录新浪财经APP 搜索【信披】查看更多考评等级 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： 单位：股 ■ 注：合计数与分项数累加和不同是因四舍五入所致 三、其他情况说明 合盛集团及其一致行动人资信和财务状况良好，未来资金还款来源主要包括营业收入、投资收益、持有 公司股份分红等。质押风险均在可控范围之内，不存在可能导致公司控制权发生变更的实质性因素。若 已质押的股份出现预警风险时，合盛集团及其一致行动人将采取包括但不限于追加保证金、提前还款等 措施应对上述风险。 截至本公告日，合盛集团及其一致行动人罗立国、罗燚、罗烨栋合计直接持有公司股份869,105,229股， 占公司总股本的73.52%。本次解质押后 ...

Investment Rating - The report indicates a positive outlook for the photovoltaic sector, with signs of recovery in profitability and stable growth in the wind power sector [1][5]. Core Insights - The renewable energy sector reported a revenue of 11,722 billion yuan for Q1-3 2025, a year-on-year decrease of 1%, and a net profit of 242 billion yuan, down 19% year-on-year. In Q3 2025, revenue was 4,138 billion yuan, up 2% year-on-year, and net profit was 118 billion yuan, up 41% year-on-year [2][7]. - The photovoltaic segment experienced a significant reduction in losses, with Q3 2025 revenue at 2,315 billion yuan, down 8% year-on-year, but net profit surged to 28.4 billion yuan, a year-on-year increase of 1,495% [2][37]. - The wind power segment showed robust growth, with Q3 2025 revenue of 1,135 billion yuan, up 22% year-on-year, and net profit of 50 billion yuan, up 33% year-on-year [2][16]. Summary by Sections Revenue and Profitability - The renewable energy sector's revenue for Q1-3 2025 was 11,722 billion yuan, with a net profit of 242 billion yuan. Q3 2025 saw a revenue of 4,138 billion yuan and a net profit of 118 billion yuan, marking a significant recovery [2][15]. - The photovoltaic sector's revenue for Q1-3 2025 was 6,640 billion yuan, with a net loss of 43 billion yuan. In Q3 2025, revenue was 2,315 billion yuan, and net profit was 28.4 billion yuan, indicating a strong recovery [2][37]. Segment Performance - The photovoltaic segment's Q3 2025 performance showed a revenue decline of 8% year-on-year but a remarkable net profit increase of 1,495%. The wind power segment continued to grow, with a 22% revenue increase year-on-year [2][16][37]. - The report highlights that the profitability of the wind power segment is improving, with a notable increase in gross margins due to price adjustments and operational efficiencies [2][16]. Market Trends - The report notes a gradual recovery in demand for household energy storage, with significant growth expected in commercial and large-scale storage solutions. The anticipated installation capacity for 2025 is around 150 GWh, representing a year-on-year increase of over 40% [2][6]. - The photovoltaic industry is undergoing a restructuring process, with upstream profitability recovering as prices for silicon materials rise. This trend is expected to continue into 2026, leading to a reshaped industry ecosystem [2][6]. Recommendations - The report recommends focusing on high-growth areas such as inverters and mounting systems, as well as leading photovoltaic companies with cost advantages and strong distribution channels [2][6].

证券代码：603260 证券简称：合盛硅业 公告编号：2025-077 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： 截至本公告日，合盛硅业股份有限公司（以下简称"公司"）控股股东宁波 合盛集团有限公司（以下简称"合盛集团"）直接持有公司股份486,647,073股， 占公司总股本的41.16%。本次解质押后，合盛集团累计质押股份为240,909,100 股，占其所持股份比例的49.50%，占公司总股本比例的20.38%。 截至本公告日，合盛集团及其一致行动人罗立国、罗燚、罗烨栋合计直接持 有公司股份869,105,229股，占公司总股本的73.52%。本次解质押后，合盛集团及 其一致行动人罗立国、罗燚、罗烨栋直接持有的公司股份中处于质押状态的股份 累计数为431,753,200股，占其合计所持公司股份总数的49.68%，占公司总股本的 36.52%。 公司于近日接到控股股东合盛集团关于其所持部分公司股份办理解质押业 务的通知，具体事项如下： | 股东名称 | 合盛集团 | | --- | --- | | 本 ...

格隆汇11月14日｜合盛硅业大宗交易成交411.3万股，成交额2.26亿元，占当日总成交额的10.17%，成 交价55.06元，较市场收盘价59.61元折价7.63%。 ...

Core Viewpoint - The company emphasizes its commitment to technological innovation as the core driving force, focusing on research and development investments and capacity expansion in the silicon carbide sector [1] Group 1: Production and Quality - The company has achieved full-scale production of 6-inch silicon carbide substrates, with a crystal yield exceeding 95% and an epitaxial yield stabilizing above 98%, placing it in a leading position within the industry [1] - The company has initiated small-scale production of 8-inch silicon carbide substrates, while the research and development of 12-inch silicon carbide substrates is progressing smoothly [1] Group 2: Product Development - The company continues to deepen its efforts in the high-end silicon carbide powder sector, successfully developing ultra-pure silicon carbide ceramic powders that meet the high purity and customization requirements for various fields, including semiconductors, thermal spraying, and high-temperature structural components [1] - The company has also developed high-purity semi-insulating silicon carbide powders that meet the growth requirements for silicon carbide gem crystals and optical waveguide crystals [1]