中国北京市东长安街１号东方广场 C1 座 9 层 100738 电话:(86 10) 8525 5500;传真:(86 10) 8525 5511 / 8525 5522 北京 · 上海 · 深圳 · 香港 · 海口 · 武汉 · 新加坡 · 纽约 www.hankunlaw.com 北京市汉坤律师事务所 北京 + FIT 100000 关于 华扬联众数字技术股份有限公司 2023 年度股东大会 之 法律意见书 汉坤(证)字[2024]第 22435-24-O-1 号 HANKUN 汉 坤 律师 事 务 所 Han Kun Law Offices 关于华扬联众数字技术股份有限公司 2023 年度股东大会之法律意见书 北京市汉坤律师事务所 关于华扬联众数字技术股份有限公司 2023 年度股东大会之 法律意见书 编号:汉坤(证)字[2024]第 22435-24-O-1 号 致:华扬联众数字技术股份有限公司 北京市汉坤律师事务所(以下简称"本所")接受华扬联众数字技术股份有限 公司(以下简称"华扬联众"或"公司")的委托,指派本所律师出席公司 2023年 度股东大会(以下简称"本次股东大会")进行法律见证。根据《 ...

证券代码：603825 证券简称：华扬联众 公告编号：2024-030 华扬联众数字技术股份有限公司 关于召开 2023 年度业绩说明会的公告 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。 三、 参加人员 重要提示： 华扬联众数字技术股份有限公司（以下简称"公司"）已于 2024 年 04 月 30 日（星期二）发布公司 2023 年年度报告，为便于广大投资者更全面深入地了解 公司 2023 年度经营成果、财务状况，公司计划于 2024 年 05 月 21 日下午 16:00- 17:00 举行 2023 年度业绩说明会，就投资者关心的问题进行交流。 一、 业绩说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2023 年度的经营成果 及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的范围内 就投资者普遍关注的问题进行回答。 ● 会议召开时间：2024 年 05 月 21 日（星期二）下午 16:00-17:00 ● 会议召开地点： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： ...

华扬联众数字技术股份有限公司 2023 年度股东大会会议文件 二〇二四年五月 目录 议案 1：《关于公司 2023 年年度报告及其摘要的议案》； 议案 2：《关于公司 2023 年度董事会工作报告的议案》； 议案 3：《关于公司 2023 年度监事会工作报告的议案》； 议案 4：《关于公司 2023 年度独立董事述职报告的议案》； 议案 5：《关于公司 2023 年度财务决算报告的议案》； 议案 6：《关于公司 2023 年度利润分配预案的议案》； 议案 7：《关于公司 2024 年度日常关联交易预计的议案》； 议案 8：《关于公司 2024 年度对外担保额度预计的议案》； 议案 9：《关于公司董事、监事和高级管理人员 2023 年度薪酬执行情况 及 2024 年度薪酬方案的议案》； 议案 10：《关于修订<公司章程>的议案》； 议案 11：《关于修订<董事会议事规则>的议案》； 议案 12：《关于修订<独立董事工作制度>的议案》； 议案 13：《关于修订<对外担保管理办法>的议案》； 2023 年度股东大会会议须知 为了维护投资者的合法权益，确保股东在华扬联众数字技术股份有限公司 （以下简称"公司"）202 ...

证券代码：603825 证券简称：华扬联众 公告编号：2024-029 华扬联众数字技术股份有限公司 (三) 本次会议于 2024 年 5 月 9 日 10 时以通讯表决方式召开。 (四) 本次会议应出席董事 7 名，实际出席董事 7 名。 (五) 本次会议由公司董事长冯康洁女士主持，公司监事及高级管理人员列席 了本次会议。 二、 董事会会议审议情况 1. 审议通过了《关于公司向渤海国际信托股份有限公司申请信托贷款的议 案》； 关于第五届董事会第十次（临时）会议决议的公告 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、 董事会会议召开情况 (一) 华扬联众数字技术股份有限公司（以下简称"公司"）第五届董事会第十 次（临时）会议（以下简称"本次会议"）的召开符合《公司法》和《公司章程》 的有关规定。 (二) 经全体董事同意，豁免本次会议的提前通知期限的要求，本次会议通知 已于 2024 年 5 月 8 日以书面文件的方式发出。 特此公告。 华扬联众数字技术股份有限公司董事会 2024 年 5 月 9 日 为满足公司经营资金 ...

证券代码：603825 证券简称：华扬联众 公告编号：2024-028 华扬联众数字技术股份有限公司 关于公司实际控制人及其一致行动人部分股份质押 延期购回的公告 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： ●华扬联众数字技术股份有限公司（以下简称"公司"或"华扬联众"）控股 股东及实际控制人苏同先生持有公司无限售条件流通股 66,389,131 股，占公 司总股本的 26.21%。本次部分股份质押延期购回后，苏同先生的累计质押公 司股份数量为 60,353,567 股，占其持股数量的 90.91%，占公司总股本的 23.82%。 ●公司控股股东及实际控制人苏同先生的一致行动人姜香蕊女士持有公司无 限售条件流通股 27,705,970 股，占公司总股本的 10.94%。本次部分股份质押 延期购回后，姜香蕊的累计质押公司股份数量为 27,096,320 股，占其持股数量 的 97.80%，占公司总股本的 10.70%。 ●公司控股股东及实际控制人苏同先生及其一致行动人姜香蕊女士、上海华 扬联众企业管理有限公司 ...

证券代码：603825 证券简称：华扬联众 公告编号：2024-027 华扬联众数字技术股份有限公司 关于 2023 年度募集资金存放与实际使用情况的 专项报告（修订版） 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。 截至 2023 年 12 月 31 日，本公司募集资金使用情况如下： 单位：人民币元 根据中国证券监督管理委员会发布的《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（2022 年修订）》和上海证券交易所发布的 《上海证券交易所上市公司自律监管指引第 1 号——规范运作》等有关规定，华 扬联众数字技术股份有限公司（以下简称"公司"、"本公司"或"华扬联众"） 董事会编制了截至 2023 年 12 月 31 日的《关于 2023 年度募集资金存放与实际使 用情况的专项报告》。公司 2023 年度募集资金存放与使用情况的专项说明如下： 一、募集资金基本情况 （一）募集资金金额及到位时间 经中国证券监督管理委员会《关于核准华扬联众数字技术股份有限公司非公 开发行股票的批复》（证监许可[2020] ...

Financial Performance - The net profit attributable to the parent company's shareholders for 2023 is -688,865,865.14 RMB, indicating a loss for the year [5]. - The company's operating revenue for 2023 was ¥5,499,864,640.28, a decrease of 35.33% compared to ¥8,504,302,734 in 2022 [25]. - The net profit attributable to shareholders for 2023 was -¥688,865,865.14, compared to a profit of ¥646,453,860.53 in 2022, reflecting a significant decline [25]. - The basic earnings per share for 2023 was -¥2.72, down from -¥2.55 in 2022, indicating a 6.67% decrease [26]. - The total assets at the end of 2023 were ¥3,095,785,040.15, a decrease of 50.92% from ¥6,307,271,883.83 in 2022 [25]. - The net assets attributable to shareholders decreased by 38.83% to ¥955,269,534.71 in 2023 from ¥1,561,601,553.88 in 2022 [25]. - The weighted average return on equity for 2023 was -56.60%, a decrease of 23.07 percentage points from -33.53% in 2022 [26]. - The company reported a net profit of -¥568,793,255.25 in Q4 2023, following losses in previous quarters [28]. - The company reported a significant loss of -46,568,600.00 RMB in fair value measurement for Vpon Ltd. during the reporting period [33]. - The company reported a net loss of ¥440,970,663.75, a significant decline compared to a profit of ¥313,697,850.20 in the previous period, indicating financial challenges [63]. Profit Distribution - The board of directors has proposed not to distribute profits for 2023 due to the negative net profit, which will be submitted for approval at the annual shareholders' meeting [5]. - For the fiscal year 2022, the company reported a net profit attributable to shareholders of the parent company as negative, leading to a proposal of no profit distribution [128]. - Similarly, for the fiscal year 2023, the company also proposed no profit distribution due to a negative net profit attributable to shareholders [129]. - The company's profit distribution policy emphasizes reasonable returns to investors while ensuring sustainable development, with a minimum cash distribution of 10% of distributable profits when conditions allow [126]. Corporate Governance - The company has a governance structure that complies with relevant laws and regulations, ensuring transparency and protecting shareholder rights [87]. - The board of directors consists of 7 members, including 3 independent directors, and has established specialized committees to enhance decision-making processes [88]. - The company has implemented strict insider information management practices to prevent leaks and ensure fair information disclosure [89]. - The board of directors has been restructured, with the appointment of new independent directors and supervisors to enhance governance [94]. - The company has established a performance evaluation system to link remuneration with operational performance [109]. Operational Changes - The company has undergone a change in its registered address, moving to Hunan Province, Changsha City, from Beijing [20]. - In 2023, the company underwent significant personnel restructuring, including a 20% salary reduction for middle and senior management, to focus on core business areas [36]. - The company is focusing on expanding its digital technology services and enhancing its market presence [100]. - The company is exploring business innovation in AI and virtual technology, particularly in the digital cultural tourism sector, to meet the growing demand for online and offline traffic [80]. Risk Management - The company emphasizes the importance of risk awareness in its forward-looking statements, advising investors to consider investment risks [6][10]. - The company has focused on enhancing accounts receivable recovery and financial risk management to ensure sustainable development [36]. - The company faces significant operational risks due to high market competition in the internet marketing industry, which could adversely affect its performance if it fails to improve marketing capabilities and expand quality clients [82]. Research and Development - The company has established a research and development center in Silicon Valley to leverage AIGC technology for commercial applications [40]. - The company has committed to ongoing research and development of new products and technologies to drive future growth [94]. - Research and development expenses totaled ¥179,209,490.02, accounting for 3.26% of total revenue [56]. - The number of R&D personnel was 263, representing 21.47% of the total workforce [57]. Environmental Responsibility - The company emphasizes environmental protection and adheres to various environmental laws and regulations, implementing management systems to reduce energy consumption and waste [137]. - The company has not allocated any funds for environmental protection during the reporting period, indicating a lack of investment in this area [135]. - The company has not implemented any carbon reduction measures during the reporting period, resulting in zero reduction in carbon emissions [139]. Shareholder Engagement - The company emphasizes investor relations and actively engages with investors to strengthen their understanding and support of the company's operations [89]. - The total number of ordinary shareholders decreased from 42,374 to 37,060 during the reporting period [190]. - The largest shareholder, Su Tong, holds 26.21% of the shares, with 60,353,567 shares pledged [192]. Financial Controls - The company has established a robust internal control management system, ensuring effective execution without significant deficiencies during the reporting period [131]. - The internal control audit report issued by Zhongxing Cai Guanghua Accounting Firm provided a standard unqualified opinion, confirming the effectiveness of the internal control system [133]. - The company has not reported any significant changes in user data or customer metrics in the latest earnings call [96].

Financial Performance - The company's operating revenue for Q1 2024 was ¥628,423,171.84, representing a decrease of 67.38% compared to the same period last year[4]. - The net profit attributable to shareholders was -¥47,716,558.87, reflecting a decline of 1,558.90% year-over-year[4]. - The net cash flow from operating activities was -¥19,155,641.88, a decrease of 103.81% compared to the previous year[4]. - Basic and diluted earnings per share were both -¥0.19, indicating a decline of 2,000.00% year-over-year[4]. - Net profit for Q1 2024 was a loss of ¥49,550,353.15, compared to a profit of ¥814,640.56 in Q1 2023, representing a significant decline[17]. - Total comprehensive income for Q1 2024 was a loss of ¥47,153,703.56, compared to a gain of ¥3,161,766.69 in Q1 2023[18]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,941,451,940.36, down 4.99% from the end of the previous year[5]. - The total current liabilities decreased to CNY 2,047,438,115.19 from CNY 2,140,601,607.46, indicating a reduction of about 4.36%[15]. - The total liabilities decreased to CNY 2,219,448,682.15 from CNY 2,325,781,423.04, indicating a reduction of approximately 4.56%[15]. - The company reported a total non-current asset value of CNY 604,856,910.35, slightly down from CNY 612,885,027.49, reflecting a decrease of around 1.88%[14]. - The company’s inventory increased slightly to CNY 71,552,809.12 from CNY 71,471,652.62, showing a marginal increase of about 0.11%[14]. Shareholder Information - Shareholders' equity attributable to the parent company was ¥909,949,625.43, a decrease of 4.74% from the previous year-end[5]. - The total number of ordinary shareholders at the end of the reporting period was 42,374[10]. - The company has not reported any significant changes in shareholder participation in financing or securities lending activities during the reporting period[12]. Cash Flow and Financing Activities - The company reported a net cash outflow from operating activities of ¥19,155,641.88 in Q1 2024, compared to a net inflow of ¥503,204,929.05 in Q1 2023[22]. - Cash received from sales and services in Q1 2024 was ¥918,938,328.02, down 64.0% from ¥2,550,584,910.69 in Q1 2023[21]. - Cash outflow for purchasing goods and services in Q1 2024 was ¥827,691,813.94, a decrease of 54.7% from ¥1,827,375,611.66 in Q1 2023[22]. - The company obtained loans amounting to ¥77,520,572.72 in Q1 2024, compared to ¥50,000,000.00 in Q1 2023, indicating increased financing activity[22]. - Cash flow from financing activities totaled $97,021,427.65, a decrease from $614,392,627.90 in the previous period[23]. - Net cash flow from financing activities was -$19,500,854.93, compared to -$564,392,627.90 last year[23]. - The net increase in cash and cash equivalents was -$37,000,174.02, down from -$54,984,033.60 in the prior year[23]. - The ending balance of cash and cash equivalents was $183,111,488.45, compared to $241,909,368.17 at the end of the previous period[23]. Market Conditions and Operational Challenges - The decline in revenue was attributed to a significant reduction in client budgets due to adverse market conditions[8]. - There were no new strategies or significant developments in product or technology research mentioned in the report[12].

证券代码：603825 证券简称：华扬联众 公告编号：2024-014 华扬联众数字技术股份有限公司 关于第五届董事会第八次（临时）会议决议的公告 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、 董事会会议召开情况 (一) 华扬联众数字技术股份有限公司（以下简称"公司"）第五届董事会第八 次（临时）会议（以下简称"本次会议"）的召开符合《公司法》和《公司章程》 的有关规定。 (二) 本次会议通知已于 2024 年 3 月 24 日以书面文件的方式发出，全体董事 同意豁免本次会议的提前通知期限。 为满足公司经营资金需求，同意公司向长沙农村商业银行股份有限公司雨花 支行申请总额不超过人民币 3,000 万元的授信额度，授信期不超过 1 年。同意该 授信由实际控制人苏同先生及其配偶冯康洁女士提供连带责任保证担保。根据 《上海证券交易所股票上市规则》及《公司信息披露暂缓与豁免管理制度》的规 定，公司接受关联方担保事项豁免按照关联交易的方式进行审议和披露。 表决结果：同意 7 票，反对 0 票，弃权 0 票。 (三) 本次会议于 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [8]. Core Insights - The company is expected to achieve a significant improvement in its cost structure, leading to a potential turning point in performance. The relocation to Changsha aims to create a digital cultural tourism ecosystem, leveraging AI video and music technologies to unlock growth potential, combining performance recovery with new business growth [18]. Company Overview - Total shares outstanding/float shares: 253 million [3] - Total market capitalization/float market capitalization: 3.3 billion [4] - 52-week high/low price: 16.71 / 6.92 [5] - Debt-to-asset ratio: 75.4% [6] - Price-to-earnings ratio: -5.05 [7] - Major shareholder: Su Tong [8]. Financial Performance - The company forecasts a net profit attributable to shareholders of -4.92 million in 2023, with a projected recovery to 0.50 million in 2024 and 0.85 million in 2025 [18]. - Expected revenue for 2023-2025: 6.318 billion, 8.557 billion, and 10.294 billion respectively, with growth rates of -25.71%, 35.43%, and 20.31% [13]. - The company anticipates an EPS of -1.94 in 2024 and 0.33 in 2025 [18]. Business Strategy - The company has undergone a restructuring of its marketing workflow, integrating AI capabilities to enhance efficiency and creativity in content generation [10]. - The launch of AI tools such as Suno V3 and the marketing assistant Kimi aims to improve data analysis and content creation, thereby reducing costs and increasing responsiveness [17]. - The company is collaborating with cultural institutions to merge traditional artifacts with modern art, enhancing its digital cultural tourism offerings [18].