江苏益友天元律师事务所 关于金宏气体股份有限公司 2023 年年度股东大会的 法律意见书 矢完建师事 5 25 地址:苏州市工业园区月亮湾路 15 号中新大厦 7 楼 邮编:215123 电话: 0512-68240861 传真: 0512-68253379 二〇二四年四月 法律意见书 一. 本次股东大会的召集、召开程序 (一)本次股东大会的召集程序 江苏益友天元律师事务所 关于金宏气体股份有限公司 2023年年度股东大会的法律意见书 益友证金宏字(2024)第1号 致:金宏气体股份有限公司 江苏益友天元律师事务所(下称"本所")接受金宏气体股份有限公司(下称"公 司"）的委托,指派庞磊、蔡蕲律师(下称"本所律师")出席了公司2023年年度股东 大会(下称"本次股东大会"),对本次股东大会进行见证并发表法律意见。 为出具本法律意见书,本所律师审查了公司本次股东大会的有关文件和材料,并得 到公司如下保证:公司向本所提供的用于出具本法律意见书所必需的原始书面材料、副 本材料、电子文档或口头陈述真实、完整、有效,不存在虚假陈述、重大遗漏或隐瞒; 所有副本材料与复印件均与原件一致。 本法律意见书仅供本次股东大会之目的 ...

| 证券代码：688106 | 证券简称：金宏气体 公告编号：2024-040 | | --- | --- | | 转债代码：118038 | 转债简称：金宏转债 | 金宏气体股份有限公司 关于"金宏转债"预计触发转股价格向下修正条件 的提示性公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 转股价格：27.48 元/股 公司本次募集资金净额为1,004,159,622.64元。可转债的期限为自发行之日起六年， 即自2023年7月17日至2029年7月16日。 经上海证券交易所自律监管决定书〔2023〕171号文同意，公司101,600万元 可转换公司债券于2023年8月10日起在上海证券交易所挂牌交易，债券简称"金 宏转债"、债券代码为"118038"。 根据有关规定和《募集说明书》的约定，公司本次发行的"金宏转债"自2024 年1月21日（非交易日顺延至下一交易日，即2024年1月22日）起可转换为本公司 股份，转股价格为27.48元/股。 一、可转债发行上市概况 根据中国证券监督管理委员会出具的《 ...

金宏气体股份有限公司 2023 年年度股东大会会议资料 2024 年 04 月 金宏气体股份有限公司 2023 年年度股东大会会议资料 目 录 | 金宏气体股份有限公司 2023 年年度股东大会会议须知…………………………4 | | --- | | 金宏气体股份有限公司 2023 年年度股东大会会议议程…………………………6 | | 议案一：关于《2023 年度董事会工作报告》的议案…………………………………7 | | 议案二：关于《2023 年度监事会工作报告》的议案…………………………………8 | | 议案三：关于《2023 年年度报告》及摘要的议案……………………………………10 | | 议案四：关于《2023 年度财务决算报告》的议案……………………………………11 | | 议案五：关于《2024 年度财务预算报告》的议案……………………………………12 | | 议案六：关于授权公司董事长基于生产经营需要在 年度财务预算范围内签署银 2024 | | 行借款合同和相关担保协议的议案……………………………………………………13 | | 议案七：关于《2023 年年度利润分配方案》的议案……………………… ...

Investment Rating - The report maintains a "Buy" rating for the company [1][7]. Core Views - The company is actively expanding its specialty gas category and continuously enhancing its electronic bulk gas service capabilities. As projects under construction progress, on-site gas production and electronic bulk gas orders are expected to contribute to rapid growth in the company's performance. The forecasted net profits for 2023, 2024, and 2025 are 398 million, 502 million, and 619 million respectively, corresponding to current P/E ratios of 24x, 19x, and 15x [1][7]. Financial Summary - **Balance Sheet (in million)** - Total assets are projected to grow from 6,240 million in 2023 to 9,232 million by 2026 [5]. - **Income Statement (in million)** - Revenue is expected to increase from 2,427 million in 2023 to 4,266 million in 2026, with a growth rate of 23.40% in 2023 [5][18]. - Net profit is forecasted to rise from 315 million in 2023 to 619 million in 2026, with a growth rate of 37.48% in 2023 [5][18]. - **Profitability Ratios** - Gross margin is expected to improve from 37.73% in 2023 to 39.43% in 2026 [5]. - Net profit margin is projected to increase from 12.98% in 2023 to 14.50% in 2026 [5]. - **Earnings Per Share (EPS)** - The diluted EPS is expected to grow from 0.65 in 2023 to 1.27 in 2026 [18]. - **Valuation Metrics** - The P/E ratio is projected to decrease from 37.06 in 2023 to 15.17 in 2026, indicating an attractive valuation as earnings grow [18].

关于可转债转股结果暨股份变动的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： | 证券代码：688106 | 证券简称：金宏气体 | 公告编号：2024-039 | | --- | --- | --- | | 转债代码：118038 | 转债简称：金宏转债 | | 金宏气体股份有限公司 累计转股情况：金宏气体股份有限公司（以下简称"公司"）向不特定 对象发行可转换公司债券"金宏转债"自 2024 年 1 月 21 日（非交易日顺延至下 一交易日，即 2024 年 1 月 22 日）起可转换为公司股份。截至 2024 年 3 月 31 日， "金宏转债"累计有人民币 6,000.00 元已转换为公司股票，转股数量为 216 股， 占"金宏转债"转股前公司已发行股份总额 486,943,142 的 0.0000%。 未转股可转债情况：截至 2024 年 3 月 31 日，"金宏转债"尚未转股的 可转债金额为 1,015,994,000.00 元，占"金宏转债"发行总量的 99.9994%。 本季度转股情况 ...

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Insights - The company achieved a revenue of 2.427 billion yuan in 2023, representing a year-on-year increase of 23.40%, and a net profit attributable to shareholders of 315 million yuan, up 37.48% [8] - The proportion of specialty gases continues to increase, with specialty gas revenue reaching 1.09 billion yuan, a growth of 46.50%, accounting for 46.34% of main business revenue [8] - The company is expanding its presence in the semiconductor industry, achieving a revenue of 743 million yuan in this sector, a growth of 58.41% [8] - The first electronic bulk gas project has achieved mass production, contributing stable revenue and profit [8] - The company is actively exploring helium resources to meet downstream customer demand [8] - The company has increased its R&D investment, with R&D expenses reaching 86.3 million yuan in 2023, a growth of 1.94% [8] - The company forecasts net profits of 410 million yuan and 528 million yuan for 2024 and 2025, respectively, with a projected PE ratio of 23 and 18 [8] Summary by Sections Financial Performance - In 2023, the company reported a total revenue of 2.427 billion yuan, with a net profit of 315 million yuan, and a non-recurring net profit of 287 million yuan, reflecting significant growth across various segments [8] - The gross margin for specialty gases was 40.36%, while the gross margin for bulk gases was 34.20% [8] Business Segments - Specialty gas business revenue increased significantly, while bulk gas revenue grew at a slower pace [8] - The onsite gas and rental business saw a revenue increase of 43.81%, with a gross margin of 59.84% [8] Market Expansion - The company is successfully expanding into the semiconductor market, with several key products being supplied to major clients [8] - New projects in electronic bulk gas are being developed, enhancing the company's market position [8] Research and Development - The company has increased its R&D efforts, achieving recognition as a national-level specialized and innovative enterprise [8] - Ongoing projects include the development of several new specialty gas products [8]

Investment Rating - The report maintains a "Buy" rating for the company, with a target price adjusted to 26.24 CNY from the previous 29.90 CNY [5][15]. Core Insights - The company achieved a net profit of 287 million CNY in 2023, representing a 50% year-on-year growth, and is expected to alleviate capacity constraints for high-purity ammonia and other key products with new capacity coming online in 2024 [15]. - The revenue growth for high-margin specialty gas business exceeded 46%, increasing its share to 46.3% of total revenue, which further improves profitability metrics [15]. - The company has secured long-term contracts, including a significant order for oxygen and hydrogen products worth approximately 2.4 billion CNY, which will contribute stable revenue starting in 2025 [15]. Financial Summary - Revenue is projected to grow from 2,427 million CNY in 2023 to 3,728 million CNY by 2026, reflecting a compound annual growth rate (CAGR) of approximately 10% [7]. - Operating profit (EBIT) is expected to increase from 422 million CNY in 2023 to 758 million CNY in 2026, with an EBIT margin improving from 17.4% to 20.3% over the same period [7]. - Net profit is forecasted to rise from 315 million CNY in 2023 to 611 million CNY in 2026, maintaining a net profit margin of around 13% [7]. Valuation Metrics - The company is assigned a price-to-earnings (PE) ratio of 32 times for 2024, which is above the industry average of 27 times, reflecting its stable performance compared to peers [15]. - The expected earnings per share (EPS) for 2024 is adjusted to 0.82 CNY, with further increases to 1.06 CNY in 2025 and 1.25 CNY in 2026 [15]. Market Position - The company has a strong market position with a utilization rate of 99.58% for its existing high-purity ammonia capacity, indicating robust demand despite price fluctuations [15]. - New production capacities for various specialty gases, including 16,000 tons of high-purity ammonia and 400,000 tons of carbon dioxide, are set to launch in 2024, which will help mitigate current supply constraints [15].

| 证券代码：688106 | 证券简称：金宏气体 公告编号：2024-037 | | --- | --- | | 转债代码：118038 | 转债简称：金宏转债 | 公司于 2023 年 11 月 8 日召开第五届董事会第二十二次会议，审议通过了《关 于以集中竞价交易方式回购公司股份方案的议案》，同意公司使用自有资金通过 上海证券交易所交易系统以集中竞价交易方式回购公司已发行的部分人民币普 通股（A 股）股票。本次回购的股份将全部用于员工持股计划或股权激励，并在 股份回购实施结果暨股份变动公告日后三年内转让；若公司本次回购的股份未能 在股份回购实施结果暨股份变动公告日后三年内转让完毕，将依法履行减少注册 资本的程序，未转让股份将被注销。本次回购价格不超过人民币 30 元/股（含）， 回购资金总额不低于人民币 3,000 万元（含），不超过人民币 5,000 万元（含）， 回购期限自公司董事会审议通过本次回购方案之日起 12 个月内。 金宏气体股份有限公司 关于以集中竞价交易方式回购公司股份的进展公告 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 ...

| 证券代码：688106 | 证券简称：金宏气体 | 公告编号：2024-038 | | --- | --- | --- | | 转债代码：118038 | 转债简称：金宏转债 | | 金宏气体股份有限公司 特此公告。 金宏气体股份有限公司董事会 2024 年 4 月 1 日 关于证券事务代表离职的公告 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、准确性和完整性依法承担法律责任。 金宏气体股份有限公司（以下简称"公司"）董事会近日收到证券事务代表 金婷女士的书面辞职报告，金婷女士因个人原因申请辞去公司证券事务代表一 职，其辞职报告自送达公司董事会之日起生效，辞职后将不再担任公司任何职务， 其负责的工作已完成交接，其辞职不会影响公司相关工作的正常开展。 截至本公告披露日，金婷女士未持有公司股份，不存在应当履行而未履行的 承诺事项。金婷女士在担任公司证券事务代表期间，恪尽职守、勤勉尽责，在公 司治理、信息披露及规范运作等方面发挥了积极的作用，公司及董事会对金婷女 士为公司发展所做出的贡献表示由衷的感谢！ 公司董事会将根据《上海证券交易所科创板股票上市规则 ...

Investment Rating - The report maintains a "Buy" investment rating for the company [15][29]. Core Insights - The company has demonstrated stable growth in performance, driven by both specialty gases and bulk gases [4][12]. - In 2023, the company achieved a total revenue of 2.427 billion yuan, representing a year-on-year increase of 23.4%, and a net profit attributable to shareholders of 315 million yuan, up 37.48% year-on-year [12]. - The specialty gas business has shown significant contribution, with revenue reaching 1.09 billion yuan in 2023, a 46.5% increase, and its revenue share rising from 39.23% to 46.34% [31]. - The electronic bulk gas segment also saw growth, with revenue of 852 million yuan, a 7.5% increase, and a gross margin of 34.2% [14]. Summary by Sections Financial Performance - The company forecasts revenues of 2.888 billion, 3.426 billion, and 4.417 billion yuan for 2024, 2025, and 2026 respectively, with corresponding EPS of 0.81, 1.01, and 1.32 yuan [14][17]. - The projected growth rates for revenue are 19.0% in 2024, 18.6% in 2025, and 28.9% in 2026 [17]. Business Development - The company has made progress in new product development, with several electronic bulk gas projects expected to contribute to future growth [15][31]. - Strategic partnerships, such as the collaboration with CIMC for liquid helium storage tanks, are aimed at enhancing supply channels and meeting customer demands in the semiconductor industry [14]. Market Position - The company is positioned to benefit from the domestic substitution demand in the integrated circuit sector, with a focus on expanding its specialty gas product offerings [31].