上海市锦天城律师事务所 关于彤程新材料集团股份有限公司 2023年限制性股票激励计划 所涉回购注销部分限制性股票及调整回购价格 相关事项的 法律意见书 锦 天 城 律 师 事 务 所 ALLBRIGHT LAW OFFICES 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 关于彤程新材料集团股份有限公司 2023年限制性股票激励计划 所涉回购注销部分限制性股票及调整回购价格 相关事项的法律意见书 致:彤程新材料集团股份有限公司 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》")、中国证券监督管理委员会(以下简称 "中国证监会"）发布的《上市公司股权激励管理办法》(以下简称"《管理办 法》")等法律、法规和规范性文件和《彤程新材料集团股份有限公司章程》（以 下简称"《公司章程》")、公司《彤程新材料集团股份有限公司2023年限制性股 票激励计划(草案)》(以下简称"《激励计划》")等有关规定 ...

上海市锦天城律师事务所 关于彤程新材料集团股份有限公司 2023年限制性股票激励计划 预留授予部分第一个解除限售期解除限售条件成就 相关事项的 法律意见书 锦 天 城 律师事务 所 ALLBRIGHT LAW OFFICES 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 关于彤程新材料集团股份有限公司 2023年限制性股票激励计划 预留授予部分第一个解除限售期解除限售条件成就相关事项的 法律意见书 致:彤程新材料集团股份有限公司 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》")、中国证券监督管理委员会(以下简称 "中国证监会")发布的《上市公司股权激励管理办法》(以下简称"《管理办 法》")等法律、法规和规范性文件和《彤程新材料集团股份有限公司章程》(以 下简称"《公司章程》")、公司《彤程新材料集团股份有限公司2023年限制性股 票激励计划(草案)》(以下简称"《激励计划》")等有关规定,上海市锦天城 律师事务所(以下简称"本所")接受彤程新材料集团股份有限公司(以下简称"公 司"或"彤程新材"）的委托,就公司2023年限制性股票激励 ...

| 股票代码：603650 | 股票简称：彤程新材 | 编号：2025-049 | | --- | --- | --- | | 债券代码：113621 | 债券简称：彤程转债 | | 彤程新材料集团股份有限公司 第三届监事会第二十次会议决议公告 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 彤程新材料集团股份有限公司（以下简称"公司"、"彤程新材"）于 2025 年 6 月 25 日在公司会议室召开第三届监事会第二十次会议。本次会议的会议通知已于 2025 年 6 月 20 日通过邮件形式发出，本次会议采用现场结合通讯方式召开，由监 事会主席蒋稳仁先生主持。会议应到监事 3 名，实到监事 3 名，符合召开监事会 会议的法定人数。本次会议的召开及程序符合《公司法》和《公司章程》的有关 规定，会议决议合法有效。 二、监事会会议审议情况 本次会议经过充分讨论，审议通过了如下议案： 1、审议通过了《关于 2023 年限制性股票激励计划预留授予部分第一个解除限售 期解除限售条件成就的议案》 监事会认为：本次可解 ...

| 股票代码：603650 | 股票简称：彤程新材 | 编号：2025-048 | | --- | --- | --- | | 债券代码：113621 | 债券简称：彤程转债 | | 彤程新材料集团股份有限公司 第三届董事会第二十三次会议决议公告 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 彤程新材料集团股份有限公司（以下简称"公司"或"彤程新材"）于 2025 年 6 月 25 日在公司会议室召开第三届董事会第二十三次会议。本次会议的会议通知已 于 2025 年 6 月 20 日通过邮件形式发出，本次会议采用现场结合通讯方式召开， 由董事长 Zhang Ning 女士主持，本次会议应到董事 9 名，实到董事 9 名，全体董 事均亲自出席了本次会议。本次会议的召开符合有关法律、行政法规、部门规章、 规范性文件和《公司章程》的有关规定，会议决议合法有效。经与会董事认真审 议，形成以下决议： 二、董事会会议审议情况 本议案已经公司第三届董事会薪酬与考核委员会 2025 年第三次会议审查同意。 表决结果： ...

本次回购注销全部限制性股票将涉及公司注册资本的减少，根据《中华人民 共和国公司法》等相关法律、法规的规定，公司特此通知债权人，债权人自本公 告披露之日起四十五日内，均有权凭有效债权文件及相关凭证要求公司清偿债务 或者提供相应担保。债权人如逾期未向本公司申报债权，不会因此影响其债权的 有效性，相关债务（义务）将由本公司根据原债权文件的约定继续履行。债权人 未在规定期限内行使上述权利的，本次回购注销将按法定程序继续实施。公司各 债权人如要求公司清偿债务或提供相应担保的，应根据《中华人民共和国公司法》 | 股票代码：603650 | 股票简称：彤程新材 | 编号：2025-052 | | --- | --- | --- | | 债券代码：113621 | 债券简称：彤程转债 | | 彤程新材料集团股份有限公司 关于回购注销 2023 年限制性股票激励计划部分限制性 股票通知债权人的公告 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。 一、通知债权人原因 彤程新材料集团股份有限公司（以下简称"公司"）于 2025 年 6 月 25 日 ...

Core Viewpoint - The article highlights the significant advancements in domestic photolithography materials, particularly photolithography resins, which are crucial for semiconductor manufacturing. The domestic market is increasingly replacing foreign suppliers, with companies like Tongcheng New Materials leading the charge in this transformation [1][3]. Group 1: Importance of Photolithography - Photolithography is essential in semiconductor manufacturing, acting as both the blueprint and template for chip production. It accounts for one-third of manufacturing costs and 40%-60% of production time [3][5]. - Previously dominated by foreign companies, the market for photolithography materials is seeing a shift, with domestic production rates for i-line photolithography resins exceeding 60%, KrF over 30%, and ArF surpassing 10% [5][6]. Group 2: Domestic Market Dynamics - The domestic photolithography resin market is characterized by a multi-polar competitive landscape, unlike the monopolistic nature of photolithography machines, which are primarily produced by ASML [6][7]. - The domestic chemical industry has a strong supply chain advantage, supported by government funding and investments, enabling companies like Tongcheng New Materials to invest heavily in R&D [6][8]. Group 3: Tongcheng New Materials' Competitive Edge - Tongcheng New Materials has established a comprehensive product line across various photolithography resin categories, allowing it to capture a significant market share and generate revenue growth [8][9]. - The company has seen a substantial increase in its customer base, with major semiconductor manufacturers like SMIC and Changjiang Storage increasingly adopting its products [9][10]. Group 4: Financial Performance and Investment Strategy - In 2024, Tongcheng New Materials is projected to achieve a net profit of 517 million, with 61% of this profit coming from long-term equity investments, particularly in Zhongce Rubber [13][14]. - The strategic investment in Zhongce Rubber not only provides stable returns but also strengthens the company's position in the supply chain, ensuring a steady revenue stream [13][14]. Group 5: Future Growth Potential - The company is well-positioned for future growth, with significant market opportunities in high-end photolithography resins and a robust production capacity expansion plan [15][16]. - The ability to produce key materials in-house, such as resin for ArF photolithography, will further enhance its competitive position and reduce reliance on foreign suppliers [15][16].

Core Viewpoint - The new materials industry is experiencing rapid growth, with significant opportunities arising from technological advancements, policy support, and the need for domestic production capabilities in response to international trade tensions [2][9][13]. Group 1: Industry Overview - The global new materials industry reached a value of $2.8 trillion in 2019, with a competitive landscape divided into three tiers: developed countries in the first tier, rapidly developing countries like China in the second tier, and emerging economies in the third tier [8][12]. - China's new materials industry generated a total output value of 6.4 trillion yuan in 2021, with an average annual growth rate of 23.1% from 2010 to 2021, and is projected to reach 7.5 trillion yuan in 2022 [9][10]. Group 2: Semiconductor Sector - The global semiconductor market was valued at $595 billion in 2021, with expectations to grow to $790 billion by 2026, driven by advancements in 5G and automotive electronics [3][16]. - The semiconductor materials market in China reached $11.9 billion in 2021, growing by 22.2% year-on-year, indicating a significant increase in domestic demand [31][32]. Group 3: Display Materials - The global OLED materials market is expected to grow from approximately $900 million in 2019 to about $2.6 billion by 2024, with a compound annual growth rate (CAGR) of 23.6% [4]. - Domestic companies like Wanrun and Ruile New Materials are leading suppliers in the liquid crystal and OLED material sectors, with significant market shares [4][15]. Group 4: New Energy Materials - The new energy sector is rapidly evolving, with key materials such as composite copper foil, conductive carbon black, and sodium battery materials expected to see substantial market growth [5][15]. - The market for photovoltaic materials is projected to reach 20 billion yuan by 2025, driven by increasing demand for solar energy solutions [15]. Group 5: Environmental Materials - Traditional chemical applications are witnessing upgrades, with domestic companies like Zhongchumai and Jianlong Weina capitalizing on opportunities in molecular sieves and lubricating oil additives [6][15]. - Aerogels, known for their exceptional insulation properties, are gaining traction in construction and electric vehicle markets, with companies like Chenguang New Materials entering this space [6][15].

Core Viewpoint - The credit rating for Tongcheng New Materials Group Co., Ltd. remains stable with both the bond and entity ratings at AA, indicating no change from the previous assessment [1][2]. Group 1 - Previous rating results indicated a bond rating of AA and an entity rating of AA with a "stable" outlook [1]. - The current rating results also show a bond rating of AA and an entity rating of AA with a "stable" outlook, consistent with the previous rating [2]. - The credit rating was conducted by United Credit Rating Co., Ltd. based on a comprehensive analysis of the company's operations and industry conditions [2].

Core Viewpoint - The credit rating agency maintains the long-term credit rating of Tongcheng New Materials Group Co., Ltd. at AA, with a stable outlook for both the company and its convertible bonds, indicating strong operational performance and financial stability [1][3]. Company Overview - Tongcheng New Materials Group was established in 2008 and listed on the Shanghai Stock Exchange in June 2018, with a focus on the chemical industry [10]. - As of March 2025, the company has total assets of 87.03 billion yuan and equity of 35.23 billion yuan [10][13]. Financial Performance - In 2024, the company achieved total revenue of 32.70 billion yuan, a year-on-year increase of 11.10%, and a profit of 5.50 billion yuan, up 28.85% from the previous year [6][17]. - The operating cash flow for 2024 was 2.43 billion yuan, reflecting a 31.76% increase year-on-year [6][17]. - The company’s gross profit margin improved by 1.16 percentage points in 2024, driven by a decrease in raw material prices [17][20]. Market Position - The company holds a significant market share in the specialty rubber additives sector, with its production accounting for 28.99% of the domestic total in 2024 [5][13]. - In the semiconductor photoresist market, the company has expanded its production capacity to approximately 9,000 tons per year as of March 2025, with substantial revenue growth in this segment [5][14]. Operational Highlights - The company has seen an increase in production and sales volume of rubber additives due to recovering demand, with production capacity utilization rates improving [5][20]. - The company’s semiconductor photoresist business generated revenue of 303 million yuan in 2024, a 50.43% increase year-on-year, while the display panel photoresist segment achieved 330 million yuan, up 26.80% [5][14]. Risks and Challenges - The company faces risks related to the low utilization rate of biodegradable materials due to market demand issues and high fixed costs [6][19]. - A significant portion of the raw materials for photoresist products is imported, leading to potential supply chain vulnerabilities due to global tariff uncertainties [6][19]. Future Outlook - The company is expected to benefit from the release of capacity from its ongoing photoresist projects, which may enhance production capabilities [5][6]. - The company’s ability to maintain its competitive edge will depend on its capacity to innovate and adapt to market changes, particularly in the photoresist sector [5][19].

| 股票代码：603650 | 股票简称：彤程新材 | 编号：2025-047 | | --- | --- | --- | | 债券代码：113621 | 债券简称：彤程转债 | | 公司前次主体长期信用等级为"AA"，"彤程转债"前次信用等级为"AA"， 评级展望为"稳定"，评级机构为联合资信，评级时间为 2024 年 6 月 20 日。 联合资信在对公司经营、行业状况等进行综合分析与评估的基础上，于 2025 年 6 月 17 日出具了《彤程新材料集团股份有限公司公开发行可转换公司债券 2025 年跟踪评级报告》，本次公司主体长期信用等级为 AA，"彤程转债"信用等级为 AA，评级展望为"稳定"，本次评级结果较前次没有变化。 本次信用评级报告详见公司同日于上海证券交易所网站（www.sse.com.cn） 披露的《彤程新材料集团股份有限公司公开发行可转换公司债券 2025 年跟踪评级 报告》。 彤程新材料集团股份有限公司 关于可转换公司债券跟踪评级结果的公告 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： ...