二〇二五年九月 北京植德律师事务所 Merits & Tree Law Offices 北京市东城区东直门南大街1号来福士中心办公楼 12 层 邮编: 100007 12th Floor, Raffles City Beijing Office Tower, No.1 Dongzhimen South Street, Dongcheng District, Beijing 100007 P.R.C 电话(Tel):010-56500900 传真(Fax):010-56500999 www.meritsandtree.com 相德律师事令 北京植德律师事务所 关于苏州世华新材料科技股份有限公司 向特定对象发行股票之 发行过程及认购对象合规性的 法律意见书 植德(证)字[2025]0009-16 号 北京植德律师事务所 关于苏州世华新材料科技股份有限公司 向特定对象发行股票之 发行过程及认购对象合规性的 法律意见书 植德(证)字[2025]0009-16 号 致: 苏州世华新材料科技股份有限公司 根据北京植德律师事务所(以下简称"本所")与苏州世华新材料科技股份 有限公司(以下简称"发行人")签订的《律师服务协议 ...

Core Viewpoint - Shihua Technology (688093.SH) is currently in mass production and delivery of its polarizer protective film products to multiple clients, while OCA optical adhesive film has achieved small-scale sales to some clients and is undergoing ongoing customer validation [1] Group 1 - The company has begun mass production and delivery of polarizer protective film products to several clients [1] - OCA optical adhesive film has been sold on a small scale to certain clients, with further customer validation in progress [1] - Specific details regarding the company's clients will be disclosed in announcements made through designated information disclosure media [1]

Core Viewpoint - Shihua Technology (688093.SH) is currently in mass production and delivery of its polarizer protective film products to multiple clients, while OCA optical adhesive film has achieved small-scale sales to some clients and is undergoing ongoing customer validation [1] Group 1 - The company has begun mass production and delivery of polarizer protective film products to several clients [1] - OCA optical adhesive film has been sold on a small scale to certain clients, with further customer validation in progress [1] - Specific details regarding the company's clients will be disclosed in announcements made through designated information disclosure media [1]

苏州世华新材料科技股份有限公司 2025 年半年度持续督导跟踪报告 华泰联合证券有限责任公司 关于苏州世华新材料科技股份有限公司 2025 年半年度持续督导跟踪报告 | 保荐人名称：华泰联合证券有限责任公司 | 被保荐公司简称：世华科技 | | --- | --- | | 保荐代表人姓名：蔡福祥 | 联系电话：025-83387696 | | 保荐代表人姓名：吴学孔 | 联系电话：025-83387696 | | 保荐代表人姓名：刘一为 | 联系电话：025-83387696 | 二、重大风险事项 （一）核心竞争力风险 1、研发能力未能匹配客户需求的风险 公司致力于持续创新，为客户提供更丰富的功能性材料解决方案，并围绕 不同的行业场景、产品应用场景，持续优化技术成果，持续研发新产品以满足 1 苏州世华新材料科技股份有限公司 2025 年半年度持续督导跟踪报告 客户需要。未来，如果公司的研发能力无法与客户需求相匹配，则面临客户流 失风险，对公司经营业绩可能产生不利影响。 根据《证券法》《证券发行上市保荐业务管理办法》和《上海证券交易所 科创板股票上市规则》等有关法律、法规的规定，华泰联合证券有限责任公司 （以下 ...

Company Overview - Suzhou Shihua New Materials Technology Co., Ltd. is located in Wujiang Economic and Technological Development Zone, Suzhou, Jiangsu Province, and was established on April 14, 2010. The company was listed on September 30, 2020. Its main business involves the research, production, and sales of functional materials [1]. Business Composition - The revenue composition of the company is as follows: functional electronic materials account for 62.90%, high-performance optical materials for 36.81%, other materials for 0.22%, and other businesses for 0.07% [1]. Stock Performance - On September 4, the stock price of Shihua Technology fell by 5.03%, closing at 37.01 CNY per share, with a trading volume of 231 million CNY and a turnover rate of 2.26%. The total market capitalization is 9.72 billion CNY [1]. Shareholder Activity - Morgan Stanley's fund, specifically the Morgan Stanley Digital Economy Mixed A (017102), is among the top ten circulating shareholders of Shihua Technology. In the second quarter, it reduced its holdings by 675,900 shares, now holding 2.8401 million shares, which represents 1.08% of the circulating shares. The estimated floating loss today is approximately 5.5667 million CNY [2]. Fund Performance - The Morgan Stanley Digital Economy Mixed A fund was established on March 2, 2023, with a latest scale of 2.386 billion CNY. Year-to-date, it has achieved a return of 58.04%, ranking 427 out of 8,180 in its category. Over the past year, it has returned 122.01%, ranking 166 out of 7,978. Since its inception, it has returned 117.3% [2]. Fund Management - The fund manager of Morgan Stanley Digital Economy Mixed A is Lei Zhiyong, who has been in the position for 6 years and 140 days. The total asset scale of the fund is 4.547 billion CNY, with the best return during his tenure being 122.21% and the worst being -6.73% [3].

Group 1 - The company, Shihua Technology, announced its participation in the 2025 semi-annual performance briefing for the new materials industry organized by the Shanghai Stock Exchange [2] - The event is scheduled for September 18, 2025, from 15:00 to 17:00 [2]

Core Viewpoint - Suzhou Shihua New Materials Technology Co., Ltd. will participate in the 2025 semi-annual performance briefing for the new materials industry on September 18, 2025, to address investor concerns and provide insights into its operational results and financial status [1][2]. Group 1: Meeting Details - The meeting is scheduled for September 18, 2025, from 15:00 to 17:00 [2][3]. - It will be held at the Shanghai Stock Exchange Roadshow Center and will be conducted via video and online text interaction [2][3]. - Investors can submit questions from September 11 to September 17, 2025, through the designated website or via email [2][3]. Group 2: Participants - Key participants include the Chairman and General Manager, Mr. Gu Zhengqing, the Board Secretary, Ms. Ji Yuwen, the Chief Financial Officer, Mr. Zhou Changsheng, and Independent Director, Mr. Xu Younong [2][3]. Group 3: Investor Participation - Investors can log into the Shanghai Stock Exchange Roadshow Center on the day of the meeting to participate and receive answers to their questions [3]. - The company’s securities department can be contacted for further inquiries via phone or email [3]. Group 4: Additional Information - After the meeting, investors can access the main content and outcomes of the performance briefing through the Shanghai Stock Exchange Roadshow Center [3].

证券代码：688093 证券简称：世华科技 公告编号：2025-035 重要内容提示： 会议召开时间：2025 年 09 月 18 日（星期四）15:00-17:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） 会议召开方式：视频和网络文字互动 投资者可于 2025 年 09 月 11 日（星期四）至 2025 年 09 月 17 日（星期三） 16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 （zhengquan@shihua-group.com）进行提问。公司将在本次业绩说明会上对投资者 普遍关注的问题进行回答。 苏州世华新材料科技股份有限公司（以下简称"公司"）已于 2025 年 8 月 23 日发布公司 2025 年半年度报告，为便于广大投资者更全面深入地了解公司 2025 年半年度经营成果、财务状况，公司计划于 2025 年 09 月 18 日（星期四）15:00-17:00 参加由上海证券交易所主办的 2025 年半年度科创板新材料行业集体业绩说明会， 就投资者 ...

Group 1: Market Dynamics - 26 new private placement projects were added in the last two weeks, a 8.33% increase from the previous period, with 17 being competitive bids[5] - The number of projects terminated remained stable at 10, with 6 being competitive bids[5] - The approval rate for projects was 100%, with 5 projects approved by the review committee, a decrease of 50% from the previous period[5] Group 2: Fundraising and Pricing - A total of 166.42 billion CNY was raised from 9 projects, a staggering 1613.24% increase compared to the previous period[34] - The average base discount rate for competitive projects was 12.59%, up 6.78 percentage points, while the market price discount rate averaged 13.27%, down 0.86 percentage points[34] - The average market price discount rate for non-competitive projects was 33.37%[34] Group 3: Competitive Bidding Insights - The average number of institutions participating in competitive bids was 25, with an average allocation rate of 63.86%, an increase of 28.44 percentage points[43] - The average premium rate for competitive bids was 8.52%, down 3.44 percentage points from the previous period[43] Group 4: Project Analysis - Aikodi plans to raise up to 520 million CNY for acquisitions, with a projected PE of 10.25X, lower than its current PE of 20.18X[25] - Lukan Pharmaceutical aims to raise up to 1.2 billion CNY for high-end formulation projects, with a market outlook driven by aging population and chronic diseases[27]

Core Viewpoint - Shihua Technology (688093) has shown significant growth in revenue and profit for the first half of 2025, indicating strong performance in the functional electronic materials and high-performance optical materials sectors [1][3]. Group 1: Financial Performance - In the first half of 2025, the company achieved revenue of 537 million yuan, representing a year-on-year increase of 73.79% [1][3]. - The net profit attributable to shareholders reached 193 million yuan, up 86.38% year-on-year, while the net profit after deducting non-recurring items was 186 million yuan, reflecting a growth of 101.03% [1][3]. - The gross margin for the company was 55.62%, with the gross margin for high-performance optical materials increasing to 27.36%, showing improvement compared to the same period last year and the previous year [1][3]. Group 2: Investment and Projects - The company plans to invest 2.05 billion yuan in a new high-performance optical adhesive film project, which has already commenced construction in the first half of this year [1][3]. - The IPO fundraising project for "Functional Materials Expansion and Upgrade Project" has been completed, and the previous fundraising for the "New High-Efficiency Sealing Glue Project" has been fully utilized [2]. - The new fundraising for the optical display film materials expansion project is set at 740 million yuan, with a maximum fundraising target of 600 million yuan, expected to generate annual revenue of 1.392 billion yuan upon reaching full production [2]. Group 3: Market Position and Future Outlook - The market for optical materials is projected to be in the hundreds of billions of yuan, with the polarizer protective film market expected to exceed 5 billion yuan, indicating significant domestic substitution potential [1][2]. - The company aims to establish a product structure centered around high-performance optical materials, functional electronic materials, and functional adhesives, with functional electronic materials being the current main business and high-performance optical materials serving as the second growth curve [2].