北京市海淀区阜成路 58 号新洲商务大厦 502-504 室 北京市普华律师事务所 关于瑞斯康达科技发展股份有限公司 2024 年年度股东会的 法律意见书 致：瑞斯康达科技发展股份有限公司 北京市普华律师事务所（以下简称"本所"）接受瑞斯康达科技发展股份有 限公司（以下简称"公司"）的委托，指派本所苏宏泉律师、刘铮律师列席了公 司于 2025 年 5 月 16 日召开的 2024 年年度股东会（以下简称"本次股东会"）， 并依据《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《上市公 司股东会规则》（以下简称"《股东会规则》"）等法律、行政法规和规范性文 件以及《瑞斯康达科技发展股份有限公司章程》（以下简称"《公司章程》"） 的规定，对本次股东会的召集和召开程序、出席会议人员资格和召集人资格、表 决程序和表决结果等事宜出具本法律意见书。 本所及经办律师依据《证券法》《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）》等规定及本法律意见书出具日 以前已经发生或者存在的事实，严格履行了法定职责，遵循了勤 ...

Core Viewpoint - The article highlights the increasing complexity and prevalence of financial fraud in listed companies, particularly focusing on the role of third parties in facilitating these fraudulent activities [2][4][18]. Group 1: Overview of Financial Fraud - The annual "5.15 National Investor Protection Day" serves as a reminder of the severe consequences of financial fraud, exemplified by the Zijing Storage case, which affected 17,000 investors and involved compensation of 1.086 billion yuan from four intermediary institutions [2]. - Since 2020, over 60% of administrative penalties by the China Securities Regulatory Commission (CSRC) for income fraud have involved transaction fraud, with more than 600 third-party entities implicated in 58 cases of transaction fraud [4][6]. Group 2: Evolution of Fraud Techniques - Financial fraud has evolved from simple accounting manipulations to systemic fraud that encompasses entire business processes, as seen in cases like Gome Communications and Oriental Group [5][10]. - Transaction fraud is characterized by the fabrication of non-existent transactions and manipulation of transaction processes, posing a more direct threat to market trust compared to traditional accounting manipulations [6][10]. Group 3: Role of Third Parties - Third parties, including customers, suppliers, and shell companies, play a crucial role in orchestrating financial fraud, with an average of over 10 third parties involved in each fraudulent case [11][12]. - The involvement of third parties often includes hidden relationships and the creation of complex transaction structures to obscure fraudulent activities, as demonstrated in various cases [12][13][14]. Group 4: Legal and Regulatory Challenges - Despite the high-pressure stance of the CSRC against financial fraud, third parties often escape significant legal repercussions, leading to a lack of accountability in the broader fraud ecosystem [18][19]. - The current legal framework does not adequately address the roles of third parties in financial fraud, resulting in a cycle of low risk and high reward for those involved in fraudulent activities [23]. Group 5: Recommendations for Improvement - There is an urgent need to enhance legal regulations and establish a comprehensive accountability mechanism for all parties involved in financial fraud, including third parties [23].

Core Viewpoint - The article highlights a significant shift in the AI industry following the Trump administration's decision to revoke Biden's AI diffusion rules, which is expected to impact the AI chip market and domestic AI development in China [3][4]. Group 1: Policy Changes - Trump has canceled Biden's AI diffusion rules, which aimed to regulate AI chip exports by categorizing countries into three tiers [3]. - The new measures announced by the U.S. Department of Commerce focus on controlling AI chip exports and large model training, ensuring the U.S. maintains its leadership in AI innovation [3][4]. Group 2: Market Reactions - Following the policy changes, domestic computing power stocks surged, with notable gains in companies like Lian Technology and Hongjing Technology [1]. - Nvidia's stock rose significantly after announcing the provision of 18,000 AI GPUs to Saudi Arabia's state AI company, Humain [1][3]. Group 3: Industry Implications - The new U.S. policies are expected to accelerate the domestic replacement of AI chips in China, as companies may seek alternatives to U.S. products due to export uncertainties [4]. - The demand for AI computing power is increasing, as evidenced by Humain's plans to procure a large number of Nvidia chips for a super-scale computing center in Saudi Arabia [4]. Group 4: Investment Outlook - Industry analysts suggest that the capital expenditure in cloud-side AI remains strong, with major companies like Meta, Microsoft, and Amazon increasing their investments in AI data centers and related infrastructure [5]. - Despite short-term trading challenges, the long-term outlook for quality investments in the computing power sector remains positive [6].

Core Insights - The 2024 annual reports of A-share listed companies reveal a significant increase in R&D investments, with many companies focusing on core business and innovation to enhance product competitiveness [1][2] - Leading companies in the new energy vehicle sector, such as BYD and CATL, have set new records for R&D spending, indicating a strong commitment to technological advancement [2][3] - The trend of embracing AI is evident as companies expand their investments in AI technologies to seize market opportunities [1][5] R&D Investment Trends - A total of 4,233 listed companies reported a combined R&D investment of 1,585.9 billion yuan in 2024, with 22 companies exceeding 10 billion yuan and 9 companies surpassing 20 billion yuan in R&D spending [1][2] - BYD leads the A-share market with an R&D investment of 54.16 billion yuan, followed by major players like China Construction, China Mobile, and China Petroleum [2] - Companies such as CATL, China CRRC, Midea Group, and Hikvision also reported record-high R&D investments, each exceeding 10 billion yuan [2][3] Diversification Strategies - Several companies are diversifying their investments while focusing on their core businesses, with a notable shift in strategic positioning to adapt to market changes [3][4] - 瑞斯康达 is enhancing its capabilities by transitioning from a "access network" supplier to a "core network" supplier, aiming to integrate software and hardware for smarter services [3] AI Investment Focus - Companies are increasingly investing in AI, with iFLYTEK reporting an R&D expenditure of 4.58 billion yuan in 2024, marking a 19.37% increase [5][6] - iFLYTEK is focusing on large model R&D and applications, while Hikvision is integrating AI technologies to enhance its digital product offerings [5][6] - Traditional manufacturing firms are also adopting AI, with 伯特利 establishing an AI R&D team to explore intelligent control systems [6]

2025年4月26日，瑞斯康达(603803.SH)发布2025年一季报。 公司营业总收入为2.50亿元，在已披露的同业公司中排名第24，较去年同报告期营业总收入减少1.34亿元，同比较去年同期下降34.89%。归母净利润 为-1936.71万元，在已披露的同业公司中排名第35，较去年同报告期归母净利润减少3971.43万元，同比较去年同期下降195.18%。经营活动现金净流入 为-1.06亿元，在已披露的同业公司中排名第42，较去年同报告期经营活动现金净流入减少1.67亿元，同比较去年同期下降272.25%。 公司最新资产负债率为37.80%，在已披露的同业公司中排名第33。 公司最新毛利率为45.03%。最新ROE为-1.21%，在已披露的同业公司中排名第37，较去年同期ROE减少2.36个百分点。 公司摊薄每股收益为-0.05元，在已披露的同业公司中排名第36，较去年同报告期摊薄每股收益减少0.10元，同比较去年同期下降200.00%。 公司最新总资产周转率为0.10次，在已披露的同业公司中排名第29，较去年同期总资产周转率减少0.03次，同比较去年同期下降26.39%。最新存货周转率为 0.21次，在 ...

上述议案已经公司2025年4月24日召开的第六届董事会第五次会议、第六届监事会第四次会议审议通 过，具体情况详见同期在《中国证券报》《上海证券报》《证券时报》《证券日报》及上海证券交易所 网站（www.sse.com.cn)披露的《公司第六届董事会第五次会议决议公告》（公告编号：2025-006）、 《公司第六届监事会第四次会议决议公告》（公告编号：2025-007）及相关公告。 2、特别决议议案：9 3、对中小投资者单独计票的议案：5、6、8 4、涉及关联股东回避表决的议案：6 应回避表决的关联股东名称：李月杰、任建宏、朱春城、韩猛、宋显建、周健 5、涉及优先股股东参与表决的议案：无 三、股东会投票注意事项 (一)本公司股东通过上海证券交易所股东会网络投票系统行使表决权的，既可以登陆交易系统投票平台 （通过指定交易的证券公司交易终端）进行投票，也可以登陆互联网投票平台（网址： vote.sseinfo.com）进行投票。首次登陆互联网投票平台进行投票的，投资者需要完成股东身份认证。具 体操作请见互联网投票平台网站说明。 (二)持有多个股东账户的股东，可行使的表决权数量是其名下全部股东账户所持相同类别普通股和 ...

Core Viewpoint - 瑞斯康达科技发展股份有限公司's 2024 annual report highlights significant challenges, with key financial indicators showing substantial changes, including a drastic decline in net cash flow from operating activities and a notable drop in revenue [1] Revenue - In 2024, 瑞斯康达 achieved revenue of 1.382 billion yuan, a decrease of 14.99% from 1.626 billion yuan in the previous year, primarily due to reduced sales [2] - Revenue from transmission equipment was 460 million yuan, down 17.54%, while broadband network equipment revenue fell 41.13% to 391 million yuan; however, software product revenue increased by 31.22% to 161 million yuan, and other business revenue rose by 35.62% to 353 million yuan [2] - Domestic revenue was 1.164 billion yuan, a decrease of 18.57%, while overseas revenue grew by 14.29% to 201 million yuan, indicating challenges in market expansion despite some growth in international markets [2] Net Profit - The net profit attributable to shareholders was -122 million yuan, an improvement from -202 million yuan in 2023, indicating a narrowing of losses [3] - The net profit after excluding non-recurring gains and losses was -148 million yuan, compared to -205 million yuan in the previous year, showing some improvement but still indicating a loss [3] Earnings Per Share - Basic earnings per share were -0.28 yuan, and the basic earnings per share after excluding non-recurring gains and losses were -0.34 yuan, both indicating negative returns for shareholders [4] - Although the basic earnings per share improved from -0.47 yuan in 2023, the company remains in a loss position, negatively impacting shareholder returns [4] Expenses - Sales expenses for 2024 were 255 million yuan, down 11.57% from 289 million yuan in the previous year, attributed to cost reduction strategies [5] - Management expenses decreased by 24.77% to 110 million yuan, primarily due to the reversal of ineffective stock incentives and cost control measures [5] - Financial expenses were 598,400 yuan, a significant reduction of 91.70% from 7.209 million yuan, benefiting from better fund management [5] - R&D expenses were 323 million yuan, accounting for 23.40% of sales revenue, a decrease of 5.53% from the previous year, but still reflecting a strong commitment to R&D [5] Cash Flow - The net cash flow from operating activities was 21.8813 million yuan, a dramatic decrease of 93.03% from 314 million yuan in the previous year, primarily due to reduced sales collections [6] - The net cash flow from investing activities was 16.7805 million yuan, an improvement from -130 million yuan, indicating a shift towards liquidity and safety in investment strategies [6] - The net cash flow from financing activities was -1.53 billion yuan, an improvement from -3.64 billion yuan, reflecting a reduction in short-term borrowings [6] Risks - The company faces performance volatility risks due to rapid updates in communication equipment, intense market competition, and external economic factors affecting demand [7] - There is a risk of core technical talent loss, which could hinder technological advancements and weaken competitive positioning [7] - Accounts receivable amounted to 642 million yuan, representing 31.20% of current assets, posing a risk of bad debts despite adequate provisions [7] Management Compensation - The total pre-tax compensation for the chairman and general manager was 1.2489 million yuan, while other executives received stable compensation, indicating a consistent approach to management remuneration [8]

瑞斯康达科技发展股份有限公司 2024 年年度股东会 会议材料 股票代码：603803 2025 年 05 月 2024 年年度股东会会议材料 目录 | 目录 - 1 - | | | | --- | --- | --- | | 会 议 须 知 - 2 - | | | | 会 议 议 程 - 3 - | | | | 议案一：公司 年度董事会工作报告 - 5 - | 2024 | | | 议案二：公司 | 2024 | 年度监事会工作报告 - 13 - | | 议案三：公司 | 2024 | 年年度报告全文及摘要 - 18 - | | 议案四：公司 | 2024 | 年度财务决算报告 - 19 - | | 议案五：公司 | 2024 | 年度利润分配方案 - 24 - | | 议案六：关于 | 2025 | 年度董事薪酬方案的议案 - 26 - | | 议案七：关于公司及下属子公司 | | 2025 年度向银行申请综合授信额度及为综合授信 | | 额度内贷款提供担保的议案 - 27 - | | | | 议案八：关于续聘天健会计师事务所（特殊普通合伙）为公司 2025 年度审计机构 | | | | 的议案 - 31 ...

一、 召开会议的基本情况 证券代码：603803 证券简称：瑞斯康达 公告编号：2025-014 瑞斯康达科技发展股份有限公司 关于召开2024年年度股东会的通知 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。 (一)股东会类型和届次 重要内容提示： 2024年年度股东会 (二)股东会召集人：董事会 (三)投票方式：本次股东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 14 点 30 分 召开地点：北京市海淀区西北旺东路 10 号院东区 11 号瑞斯康达大厦 A206 会议室 (五)网络投票的系统、起止日期和投票时间。 股东会召开日期：2025年5月16日 本次股东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 东会召开当 ...

瑞斯康达科技发展股份有限公司 第六届监事会第四次会议决议公告 本公司监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个别及连带责任。 一、监事会会议召开情况 证券代码：603803 证券简称：瑞斯康达 公告编号：2025-007 瑞斯康达科技发展股份有限公司（以下简称"公司"）第六届监事会第四次 会议于 2025 年 4 月 18 日以电子邮件方式向全体监事发送了会议通知及会议材 料，并于 2025 年 4 月 24 日在北京市海淀区西北旺东路 10 号院东区 11 号楼瑞斯 康达大厦以现场表决方式召开。本次会议应出席监事 3 名实际出席监事 3 名，会 议由公司监事会主席杨海林主持。会议的召开符合《中华人民共和国公司法》及 相关法律法规和《公司章程》的有关规定。 二、监事会会议审议情况 与会监事经充分讨论，审议通过了如下议案： 1、审议通过《公司 2024 年度监事会工作报告》。 表决结果：同意 3 票，反对 0 票，弃权 0 票。表决通过。 本议案需提交公司股东会审议。 2、审议通过《公司 2024 年年度报告全文及摘要》。 公司监事会在全 ...