招商证券股份有限公司 关于昆山国力电子科技股份有限公司 部分募集资金投资项目延期事项的核查意见 招商证券股份有限公司（以下简称"招商证券"、"保荐人"）作为昆山国 力电子科技股份有限公司（以下简称"国力电子"、"公司"）持续督导的保荐 人，根据《证券发行上市保荐业务管理办法》、《上市公司募集资金监管规则》、 《上海证券交易所科创板股票上市规则》、《上海证券交易所科创板上市公司自 律监管指引第 1 号——规范运作》等相关法律法规及规范性文件，对国力电子部 分募集资金投资项目延期事项进行了核查，核查情况如下： 一、募集资金的基本情况 经中国证券监督管理委员会《关于同意昆山国力电子科技股份有限公司向不 特定对象发行可转换公司债券注册的批复》（证监许可[2023]1065号）同意注册， 公司向不特定对象发行面值总额为480,000,000.00元的可转换公司债券，债券期 限为6年。公司可转换公司债券募集资金总额为人民币480,000,000.00元，扣除 不 含 税 发 行 费 用 人 民 币 13,025,471.69 元 ， 实 际 募 集 资 金 净 额 为 人 民 币 466,974,528.31元。上述资金 ...

Core Viewpoint - The company announced a delay in two major projects related to the production of electrical contactors for new energy applications, extending the completion timeline from December 2025 to December 2027 due to changes in the external market environment and adjustments in the pace of development in the new energy sector [1] Group 1: Project Details - The 'New Energy DC Contactor Expansion Project' has a planned investment of 287 million yuan, with adjusted funding from raised capital amounting to 266.97 million yuan [1] - The 'Wind, Solar, Storage, and Flexible Direct Current Transmission and Distribution AC Contactor Production Project' has a planned investment of 75.79 million yuan, with adjusted funding from raised capital amounting to 57.50 million yuan [1] Group 2: Reasons for Delay - The delay is attributed to changes in the external market environment, adjustments in the pace of development within the new energy industry, and the company's cautious approach to capacity expansion [1] - The company aims to ensure the quality of project construction and efficient allocation of resources through this delay [1] Group 3: Impact on Business - The delay does not change the project implementation entities, investment content, or scale, and there are no changes to the use of raised funds [1] - The delay is not expected to adversely affect the company's main business development or financial status significantly, aligning with the company's long-term development plan [1]

Group 1 - The cultivated diamond concept declined by 1.83%, ranking among the top declines in the concept sector, with *ST Yazhen hitting the limit down, and companies like World, Huanghe Xuanfeng, and Hengsheng Energy also experiencing significant declines [1][2] - Among the cultivated diamond concept stocks, five showed price increases, with Jing Sheng Electric, Yuyuan Shares, and Chao Hong Ji rising by 1.32%, 0.95%, and 0.77% respectively [1][2] - The cultivated diamond concept saw a net outflow of 405 million yuan from main funds today, with 14 stocks experiencing net outflows, and five stocks seeing outflows exceeding 30 million yuan [2] Group 2 - The stock with the highest net outflow was Boyun New Material, with a net outflow of 139 million yuan, followed by Huanghe Xuanfeng, Chuchang New Material, and Sifangda [2][3] - Stocks with the highest net inflow included Jing Sheng Electric, Chao Hong Ji, and Yuyuan Shares, with net inflows of 36.57 million yuan, 2.99 million yuan, and 1.49 million yuan respectively [2][3] - The trading volume for Boyun New Material was 10.35%, while Huanghe Xuanfeng had a trading volume of 10.23% [2][3]

（一）保荐机构 招商证券股份有限公司 关于昆山国力电子科技股份有限公司 2025年度持续督导工作现场检查报告 上海证券交易所： 根据《证券发行上市保荐业务管理办法》、《上海证券交易所科创板股票上 市规则》、《上海证券交易所上市公司自律监管指引第 11 号——持续督导》、 《上海证券交易所科创板上市公司自律监管指引第 1 号——规范运作》、《上市 公司募集资金监管规则》等有关法律法规和规范性文件的规定，招商证券股份有 限公司（以下简称"招商证券"、"保荐机构"）作为正在履行昆山国力电子科 技股份有限公司（以下简称"国力电子"、"上市公司"、"公司"）持续督导 工作的保荐机构，对公司 2025 年 1 月 1 日至本次现场检查期间（以下简称"本 持续督导期"）的规范运行情况进行了现场检查，就现场检查的有关情况报告如 下： 一、本次现场检查的基本情况 招商证券股份有限公司 （二）保荐代表人 黄文雯、徐露 （三）现场检查时间 2025年11月25日——2025年11月28日、2025年12月1日——2025年12月5日 （四）现场检查人员 徐露、留梦佳 （五）现场检查内容 公司治理和内部控制情况、信息披露情况、公司的 ...

Group 1: Market Performance - The A-share cultivated diamond sector showed strong performance, with Sifangda rising nearly 15%, Huifeng Diamond up over 10%, and Huanghe Xuanfeng hitting the daily limit [1][2] - Other companies such as Liliang Diamond, Hengsheng Energy, Chuangjiang New Materials, Inno Laser, Boyun New Materials, and Guojijiang Precision also experienced significant increases [1][2] Group 2: Industry Conference - The 2025 Cultivated Diamond Industry Conference is approaching, scheduled for December 5-6 in Zhengzhou, aiming to promote deep integration and upgrading of the industry chain [3] - The conference will focus on three main goals: building platforms, addressing shortcomings, and strengthening support, with plans to integrate the cultivated diamond industry with the gold and jewelry sector [3] - Expected outcomes include the establishment of the Henan Province Cultivated Diamond Promotion Center and signing of approximately 30 projects with a total investment of no less than 15 billion yuan [3] Group 3: Industry Background - Cultivated diamonds, a high-value consumer product branch of the diamond industry, are rapidly growing due to their environmental benefits, cost-effectiveness, and stable supply [4] - The global cultivated diamond market is projected to reach 15 billion USD by 2026, with a compound annual growth rate exceeding 15% [4] - China's position as the largest producer of cultivated diamonds is expected to secure over 40% of the global market share [4] Group 4: Market Challenges and Opportunities - The market price of synthetic diamonds, particularly mid-to-low-end industrial products, has been under pressure due to previous capacity expansions and slowing demand in traditional downstream sectors [5] - The exceptional thermal conductivity of diamonds is becoming a key factor in unlocking new value, especially in high-power electronic devices [6] - Companies like Guojijiang Precision are seeing increased demand for diamond heat sinks, with expected sales revenue surpassing 10 million yuan this year [6][7]

Group 1 - The core point of the article is that Guoli Electronics has disclosed the total number of its shareholders, which is 5,194 as of October 31, 2025 [1]

Core Viewpoint - The company has successfully applied its products in the commercial aerospace sector, specifically in new satellite platforms, and is poised to capitalize on future market opportunities as technology develops and demand increases [2]. Group 1: Product Applications - The company's products, including vacuum relay products, are utilized in satellite platform electric propulsion systems to control power on and off [2]. - The company has already achieved small-scale supply in the commercial aerospace field [2]. Group 2: Future Outlook - The company plans to continue monitoring and seizing commercialization opportunities in the commercial aerospace sector as technology research and market demand evolve [2].

Core Viewpoint - The company is actively involved in the development of products for controlled nuclear fusion and is expanding its commercial applications in this field [1] Group 1: Product Development - The company currently offers products for controlled nuclear fusion, including cold cathode thyratrons, traveling wave tubes, high-power microwave isolators, and vacuum capacitors [1] - The company is also engaged in the research and development of cyclotron tubes [1] Group 2: Strategic Initiatives - The company plans to leverage the domestic key national science center platform to participate in major national scientific projects [1] - The company aims to continuously expand its commercial applications in the field of controlled nuclear fusion [1]

Core Viewpoint - The company, Guokong Electronics, highlighted the advantages of its products, particularly vacuum switch tubes used in their contactors, emphasizing their strong breaking capacity and long service life, which are widely applied in various sectors including flexible direct current transmission, ultra-high voltage, and national grid construction [1] Group 1 - The company's products utilize vacuum switch tubes as arc extinguishing components [1] - The vacuum switch tubes provide strong breaking capacity and long service life [1] - The applications of these products include flexible direct current transmission, ultra-high voltage, and national grid construction [1]

Core Viewpoint - The company has products that are already utilized in smart grids, specifically vacuum switch tubes in their contactors, which enhance performance and longevity [2] Group 1 - The company’s products, including交流接触器 (AC contactors), utilize vacuum switch tubes as arc extinguishing components [2] - These products are characterized by strong breaking capacity and long service life [2] - The applications of these products are widespread in flexible direct current transmission, ultra-high voltage, and national grid construction [2]