北京市中伦（广州）律师事务所 关于广州瑞松智能科技股份有限公司 2025 年第一次临时股东会的 法律意见书 二〇二五年九月 "#$"%&'()*+,-./0 12 34567 89 :;<= 91 : 21>2? @A!!!BCD!"#$%C %C(FGDH,-./D#"D0D#ND2PDC"(FGD40FDR6,.6TGD"#DU9:;-:D42:9?-:,@DA6BDC2B,GD C-:,>6Da-/.T-E. c9:,@d>29GDc9:,@<2,@D!"#$%CGDefD4fDR>-,: EF(C6gDhDij$D%#D%j%$D"$jjDDD GH(F:;DhDij$D%#D%j%$D"$$$D D BBBfd>2,@g9,fE2N 法律意见书 致：广州瑞松智能科技股份有限公司 北京市中伦（广州）律师事务所（以下简称"本所"）接受广州瑞松智能科 技股份有限公司（以下简称"公司"）委托，指派李启茂律师和吴翌婷律师（以 下简称"本所律师"）对公司 2025 年第一次临时股东会（以下简称"本次股东会"） 的合法性进行见证并出具法律意见。 本所及本所律师依据《证券法》《律师事务所从事证券法律业务管理办法》 ...

瑞松科技9月12日大宗交易平台出现一笔成交，成交量6.00万股，成交金额204.00万元，大宗交易成交价 为34.00元，相对今日收盘价折价9.41%。该笔交易的买方营业部为机构专用，卖方营业部为国投证券股 份有限公司福建分公司。 证券时报·数据宝统计显示，瑞松科技今日收盘价为37.53元，上涨2.85%，日换手率为6.06%，成交额为 2.80亿元，全天主力资金净流出511.65万元，近5日该股累计上涨7.05%，近5日资金合计净流出2474.09 万元。 9月12日瑞松科技大宗交易一览 | 成交量（万 | 成交金额（万 | 成交价格 | 相对当日收盘折溢价 | 买方营 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | | 股） | 元） | （元） | （%） | 业部 | | | 6.00 | 204.00 | 34.00 | -9.41 | 机构专 | 国投证券股份有限公司福 | | | | | | 用 | 建分公司 | 注：本文系新闻报道，不构成投资建议，股市有风险，投资需谨慎。 （文章来源：证券时报网） 两融数据显示，该股最新融资余额为2.14亿元，近 ...

广州瑞松智能科技股份有限公司 2025 年第一次临时股东会会议资料 证券代码：688090 证券简称：瑞松科技 2 广州瑞松智能科技股份有限公司 2025 年第一次临时股东会会议资料 广州瑞松智能科技股份有限公司 2025 年第一次临时股东会会议资料 1 广州瑞松智能科技股份有限公司 2025 年第一次临时股东会会议资料 目录 | 广州瑞松智能科技股份有限公司 | 2025 年第一次临时股东会会议须知 | | 3 | | --- | --- | --- | --- | | 广州瑞松智能科技股份有限公司 | 2025 年第一次临时股东会会议议程 | | 5 | | 议案一 | 关于取消监事会并修订《公司章程》的议案 | | 7 | | 议案二 关于修订部分公司治理相关制度的议案 | | | 17 | | 议案三 关于调整 2025 | 年限制性股票激励计划公司层面业绩考核指标的议案18 | | | 广州瑞松智能科技股份有限公司 2025 年第一次临时股东会会议须知 为保障广州瑞松智能科技股份有限公司（以下简称"公司"）全体股东的合 法权益，维护股东会的正常秩序，保证股东会的议事效率，确保本次股东会如期、 顺利召 ...

| | 证券商除 瑞松科技 | 证券代码 688090 | 成交价(元) 成交盒额(万元) 成交量(*) 美入营业部 机构专用 34 34 34 204 | 要出营业那 国投证券股份有限 | 是否为变场 190 | | --- | --- | --- | --- | --- | --- | | 交易日期 2025-09-12 | | | | 人人都是女孩子的人人人的 | | 9月12日，瑞松科技大宗交易成交6万股，成交额204万元，占当日总成交额的0.72%，成交价34元，较 市场收盘价37.53元折价9.41%。 ...

日前，瑞松科技董事长孙志强在接受上海证券报记者专访时表示："瑞松科技将向工业装备产业链上游 迈进，在高端精密制造领域打出一片天地。" 布局高精高速机器人新赛道 在我国高端精密制造场景中，传统机器人仍面临精度不足、柔性化水平低、环境适应性弱等挑战。随着 半导体、高端精密电子、3C电子、光通讯等行业领域对高精度、高速度、高智能、高柔性需求的激 增，以及对具备高可靠性、自主决策能力的高端智能机器人的迫切需求，瑞松科技的聚焦战略更具现实 意义。 今年8月，瑞松科技已正式决定成立全资子公司——广州瑞松机器人技术有限公司（简称"瑞松机器 人"），重点聚焦高精高速六轴机器人、具身智能机器人、嵌入式控制器及核心零部件的研发、生产与 销售，并提供应用于半导体、高端精密电子、3C电子、光通讯等领域的高端柔性精密制造解决方案、 工艺技术解决方案及工业自动化软件定制开发服务。 据介绍，瑞松高精高速六轴机器人突破半导体封装、精密电子装配等领域对超高速、超精密作业的技术 瓶颈，替代传统串联机器人和人工操作。目前，此款机器人产品已拥有自主研发的高精度运动控制算 法，高速动态响应技术，以及振动抑制算法及多传感器与机器人融合技术。 孙志强认为 ...

Core Insights - The humanoid robot industry is transitioning from technology breakthroughs to commercial applications, with significant interest in business collaborations and order volumes [6] - Companies are focusing on developing humanoid robots and their core components, with expectations of substantial growth in related business by 2025 [1][2] Group 1: Company Developments - Tianzhun Technology is currently providing brain controllers for humanoid robots and has received multiple bulk orders from clients this year [7] - Efort is developing humanoid robot prototypes and optimizing their designs, with plans to release new models in 2025 [4] - Boke Co. has achieved a transition from small batch orders to bulk orders in the humanoid robot sector, expecting over 100% year-on-year growth in related business by the first half of 2025 [6] Group 2: Industry Trends - The humanoid robot market is anticipated to see significant commercial activity by 2025, with a focus on specific application scenarios [2] - Companies like Ruishun Technology are building technical reserves in AI and motion control, although they have not yet engaged directly in humanoid robot business [3] - The industry is characterized by a strong manufacturing base and diverse application scenarios in China, which are conducive to the development of humanoid robots [3] Group 3: Technological Innovations - Boke Co. is concentrating on motion control solutions for both bipedal and wheeled humanoid robots, with core products including frameless torque motors and hollow actuators [2] - Tianzhun Technology integrates NVIDIA tools and models to create comprehensive solutions for humanoid robots, enhancing their competitive edge [7] - Companies are exploring various visual perception technologies, such as depth cameras and LiDAR, to enhance humanoid robot capabilities [7]

Core Viewpoint - Recently, Ruishun Technology (688090) reported a decline in revenue and net profit for the first half of 2025, indicating financial struggles and a significant increase in accounts receivable relative to net profit [1][3]. Financial Performance - Total revenue for the first half of 2025 was 364 million yuan, a decrease of 9.82% year-on-year [1]. - The net profit attributable to shareholders was -1.2877 million yuan, down 144.54% compared to the previous year [1]. - In Q2 2025, total revenue was 190 million yuan, reflecting a 20.37% year-on-year decline [1]. - The net profit for Q2 2025 was -3.391 million yuan, a decrease of 285.03% year-on-year [1]. - Gross margin was 20.52%, down 1.35% year-on-year, while net margin plummeted to 0.01%, a drop of 99.37% [1]. - Total operating expenses (selling, administrative, and financial) amounted to 50.239 million yuan, representing 13.79% of revenue, an increase of 21.09% year-on-year [1]. Balance Sheet and Cash Flow - Cash and cash equivalents increased to 422 million yuan, a rise of 22.05% year-on-year [1]. - Accounts receivable decreased to 114 million yuan, down 51.61% year-on-year [1]. - Interest-bearing debt was 141 million yuan, a decrease of 9.82% year-on-year [1]. - The company reported a significant increase in operating cash flow per share to 0.04 yuan, up 104.92% year-on-year [1]. Return on Investment - The company's Return on Invested Capital (ROIC) was 1.16% last year, indicating weak capital returns [3]. - Historical data shows a median ROIC of 4.88% since the company went public, with a particularly poor performance in 2022, where ROIC was -8.22% [3]. Debt Servicing and Business Model - The company has a healthy cash asset position, which is crucial for debt servicing [4]. - The business model relies heavily on research and marketing efforts, necessitating a deeper analysis of these driving factors [4]. Accounts Receivable Concerns - The accounts receivable to profit ratio reached 1015.27%, raising concerns about the company's collection efficiency [5].

Meeting Overview - The first extraordinary general meeting of shareholders for 2025 will be held on September 17, 2025, at 14:00 in the company's conference room located at 188 Ruixiang Road, Huangpu District, Guangzhou [3] - The meeting will adopt a combination of on-site and online voting methods [3] Voting Procedures - Shareholders can vote through the Shanghai Stock Exchange's online voting system, with voting available from 9:15 to 15:00 on the day of the meeting [3][4] - Specific voting times for the trading system are from 9:15-9:25, 9:30-11:30, and 13:00-15:00 [3] Shareholder Participation - Only shareholders registered with the China Securities Depository and Clearing Corporation Limited as of September 12, 2025, are eligible to attend the meeting [4] - Shareholders can appoint proxies to attend and vote on their behalf, and the proxy does not need to be a shareholder [4] Documentation Requirements - Shareholders or their proxies must present valid identification and proof of shareholding to register for the meeting [5][6] - The company will not accept telephone registrations; all registrations must be confirmed in writing [6] Additional Information - The meeting is expected to last half a day, and attendees are responsible for their own travel and accommodation expenses [6] - Contact information for inquiries includes a phone number and email address [8]

Core Viewpoint - The legal opinion letter addresses the adjustment of performance assessment indicators for the 2025 restricted stock incentive plan of Guangzhou Ruisheng Intelligent Technology Co., Ltd. [1][2][4] Group 1: Approval and Authorization of Adjustments - The adjustments to the performance assessment indicators have been approved and authorized by the company's board of directors, in accordance with relevant laws and regulations [7][8][10] - The adjustments are necessary to ensure the smooth implementation of the incentive plan and to motivate the company's team effectively [12][13] Group 2: Specific Adjustments to Performance Indicators - The performance assessment for the incentive plan will now include both net profit growth rate and non-recurring net profit growth rate, with 2024 as the base year [16][17] - The adjusted performance targets for the first vesting period in 2025 are set at a target value of 170% and a trigger value of 140% for net profit growth rate [15][17] - For the second vesting period in 2026, the target value is set at 260% and the trigger value at 230% for net profit growth rate [15][17] Group 3: Compliance and Conclusion - The adjustments comply with the relevant regulations and do not harm the interests of the company and its shareholders [19][20] - The adjustments still require approval from the company's shareholders' meeting to be fully enacted [19][20]

Core Points - The company has decided to abolish the supervisory board and amend its articles of association and related governance systems [1][2] - The supervisory board's functions will be transferred to the audit committee of the board of directors [1][2] - The amendments to the articles of association will align with the current legal framework and the company's operational needs [2][17] Summary of Key Changes - **Abolishment of Supervisory Board**: The company will no longer have a supervisory board, and its powers will be assumed by the audit committee [1][2] - **Amendments to Articles of Association**: The articles will be revised to reflect the removal of the supervisory board, with relevant terms replaced by those pertaining to the audit committee [2][3] - **Specific Article Changes**: - Article 35 will now allow shareholders to request the audit committee to initiate legal proceedings if directors violate laws or regulations [3][4] - Article 41 will require shareholder approval for external guarantees exceeding certain thresholds, with specific conditions outlined for different scenarios [4][5] - Article 77 will detail matters requiring special resolutions by the shareholders [5][6] Governance System Updates - The company has developed, revised, and abolished several governance-related systems to enhance its governance structure [17][18] - The following systems are subject to review by the upcoming shareholder meeting: - Rules for shareholder meetings - Rules for board meetings - Guidelines for independent directors - Management of external guarantees - Management of related party transactions [17][18]