证券简称：天奈科技 证券代码：688116 债券简称：天奈转债 转债代码：118005 上海荣正企业咨询服务（集团）股份有限公司 关于 江苏天奈科技股份有限公司 2022 年限制性股票激励计划 首次授予部分第一个归属期归属条件成就 之 独立财务顾问报告 2023 年 8 月 3 / 12 二、声明 本独立财务顾问对本报告特作如下声明： （一）本独立财务顾问报告所依据的文件、材料由天奈科技提供，本计划 所涉及的各方已向独立财务顾问保证：所提供的出具本独立财务顾问报告所依 据的所有文件和材料合法、真实、准确、完整、及时，不存在任何遗漏、虚假 或误导性陈述，并对其合法性、真实性、准确性、完整性、及时性负责。本独 立财务顾问不承担由此引起的任何风险责任。 | 一、释义 | 3 | | --- | --- | | 二、声明 | 4 | | 三、基本假设 | 5 | | 四、独立财务顾问意见 | 6 | | 五、备查文件及咨询方式 | 12 | 一、释义 | 天奈科技、本公司、 | 指 | 江苏天奈科技股份有限公司 | | --- | --- | --- | | 公司、上市公司 | | | | 本激励计划、本计划 | 指 ...

| 证券代码：688116 | 证券简称：天奈科技 | 公告编号：2023-070 | | --- | --- | --- | | 转债代码：118005 | 债券简称：天奈转债 | | 江苏天奈科技股份有限公司 2、2022 年 6 月 24 日，公司召开第二届监事会第十五次会议，审议通过了《关于 公司<2022 年限制性股票激励计划（草案）>及其摘要的议案》、《关于公司<2022 年 限制性股票激励计划实施考核管理办法>的议案》、《关于核实公司<2022 年限制性 股票激励计划首次授予激励对象名单>的议案》。公司监事会对本激励计划发表了核 查意见。 3、2022 年 6 月 25 日，公司于上海证券交易所网站（www.sse.com.cn）披露了《江 苏天奈科技股份有限公司关于独立董事公开征集委托投票权的公告》（公告编号： 2022-044），根据公司其他独立董事的委托，独立董事于润先生作为征集人就 2022 年第一次临时股东大会审议的公司 2022 年限制性股票激励计划相关议案向公司全体 1 股东征集投票权。 4、2022 年 6 月 25 日至 2022 年 7 月 4 日，公司在内部对本次拟激励对象 ...

| 证券代码：688116 | 证券简称：天奈科技 | 公告编号：2023-069 | | --- | --- | --- | | 转债代码：118005 | 债券简称：天奈转债 | | 一、本次股权激励计划批准及实施情况 （一）本次股权激励计划主要内容 1、股权激励方式：第二类限制性股票。 2、授予数量：本激励计划拟向激励对象授予不超过 36.70 万股的限制性股票，约 占本激励计划草案公告时公司股本总额 23,222.92 万股的 0.16%。其中，首次授予 29.55 万股，约占本激励计划公告时公司股本总额 23,222.92 万股的 0.13%，首次授予部分占 本次授予权益总额的 80.52%；预留 7.15 万股，约占本激励计划公告时公司股本总额 23,222.92 万股的 0.03%，预留部分占本次授予权益总额的 19.48%。 3、授予价格（调整后）：23.54 元/股，即满足归属条件后，激励对象可以每股 23.54 元的价格购买公司向激励对象增发的公司 A 股普通股股票。 江苏天奈科技股份有限公司 2022 年限制性股票激励计划首次授予部分 第一个归属期符合归属条件的公告 本公司董事会及全体董 ...

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江苏天奈科技股份有限公司 向特定对象发行股票 申请文件的审核问询函 之回复报告 保荐机构（主承销商） 上海证券交易所： 根据贵所于 2023 年 6 月 16 日出具的上证科审（再融资）〔2023〕144 号《关 于江苏天奈科技股份有限公司向特定对象发行股票申请文件的审核问询函》（以 下简称"审核问询函"）的要求，中信证券股份有限公司（以下简称"中信证券"、 "保荐机构"或"保荐人"）作为江苏天奈科技股份有限公司（以下简称"天奈 科技"、"发行人"或"公司"）本次向特定对象发行股票的保荐机构，会同发 行人及发行人律师北京市中伦律师事务所（以下简称"中伦"、"发行人律师"） 和申报会计师天健会计师事务所（特殊普通合伙）（以下简称"天健"、"申报 会计师"）等相关各方，本着勤勉尽责、诚实守信的原则，就审核问询函所提问 题逐项进行认真讨论、核查与落实，并逐项进行了回复说明。 除特别说明外，本回复中的简称与《江苏天奈科技股份有限公司 2022 年度 向特定对象发行股票证券募集说明书》（以下简称"《募集说明书》"）中的简 称具有相同含义。本回复中所列出的数据可能因四舍五入原因而与根据回复中所 列示的相关单项数据计算得出 ...

根据上交所进一步审核意见，公司会同相关中介机构对《问询函》部分内容 进行了补充回复，更新部分以"楷体（加粗）"字体显示，具体内容详见公司同 日在上海证券交易所网站（www.sse.com.cn）披露的《关于江苏天奈科技股份有 限公司向特定对象发行股票申请文件的审核问询函之回复报告（修订稿）》等文 件。 | 证券代码：688116 | 证券简称：天奈科技 | 公告编号：2023-066 | | --- | --- | --- | | 转债代码：118005 | 债券简称：天奈转债 | | 江苏天奈科技股份有限公司 关于 2022 年度向特定对象发行 A 股股票申请文件的 审核问询函回复（修订稿）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。 江苏天奈科技股份有限公司（以下简称"公司"）于 2023 年 6 月 16 日收到上 海证券交易所（以下简称"上交所"）出具的《关于江苏天奈科技股份有限公司 向特定对象发行股票申请文件的审核问询函》（上证科审（再融资）〔2023〕144 号）（以下简称"《问询函》"）。收到 ...

Financial Performance - The company's operating revenue for 2022 was CNY 1,841,527,634.77, representing a 39.51% increase compared to CNY 1,319,956,531.27 in 2021[22]. - Net profit attributable to shareholders was CNY 424,200,310.44, up 43.37% from CNY 295,883,218.86 in the previous year[25]. - The net cash flow from operating activities increased by 269.96%, reaching CNY 107,502,253.04, primarily due to increased revenue and related subsidies[25]. - Total assets rose by 56.85% to CNY 4,062,734,238.16, driven by increased receivables and fixed asset investments[25]. - Basic earnings per share for 2022 were CNY 1.83, a 42.97% increase from CNY 1.28 in 2021[24]. - The company's main business revenue reached 1,837.60 million RMB, an increase of 39.55% compared to the previous year[129]. - The net profit attributable to shareholders was 424.20 million RMB, reflecting a growth of 43.37% year-on-year[129]. - The gross profit margin improved to 35.01%, an increase of 1.12 percentage points compared to the previous year[135]. Research and Development - The company’s R&D expenditure accounted for 4.78% of operating revenue, up from 3.94% in the previous year[24]. - The company invested 88.11 million RMB in R&D, a 69.58% increase compared to the previous year, with 168 R&D personnel, including 21 PhDs and 31 Masters[35]. - The company has developed three generations of carbon nanotube products, with the fourth generation in mass production and the fifth generation under development, maintaining industry-leading product performance[94]. - The company is focusing on R&D for new products such as new cathode materials and silicon-based anodes, as well as semiconductor-grade carbon nanotubes[168]. - The company is increasing its R&D investment to explore new applications for carbon nanotubes, optimizing existing products, and reducing costs while maintaining industry-leading performance[173]. Market Position and Expansion - The market size of carbon nanotube conductive slurry in China reached 117,000 tons in 2022, with the company holding a market share of 40.3%, ranking first among competitors[37]. - The company is expanding production capacity with projects in the U.S. and Europe, including an 8,000-ton production line for carbon nanotube conductive slurry in the U.S. and a 3,000-ton line in Europe[38]. - The company plans to continue expanding its market presence and enhancing product offerings in response to rising demand for high-quality battery materials[25]. - The company is actively expanding its overseas market presence, having already supplied products to some leading overseas clients, with plans to onboard more mainstream international customers[174]. - The company plans to strengthen market expansion for carbon nanotubes and related composite products, aiming to replace traditional conductive agents in lithium batteries and expand applications in new positive and silicon-based negative materials[174]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from Tianjian Accounting Firm[5]. - The company has confirmed that all board members attended the board meeting, ensuring governance compliance[5]. - The company has not reported any special arrangements for corporate governance[9]. - The company has not experienced any violations of decision-making procedures regarding external guarantees[9]. - The company has established a rigorous procurement management system to ensure the quality and reliability of its supply chain[47]. Risks and Challenges - The company has outlined potential risks in its management discussion and analysis section, specifically in the "Risk Factors" section[4]. - The company faces risks related to the market acceptance of carbon nanotube conductive agents and potential competition from superior materials[108]. - The company faces risks related to fluctuations in market demand for new energy vehicles, which could impact the demand for lithium batteries[126]. - The company has implemented strict confidentiality measures to protect its core technologies, but risks remain regarding potential talent loss and technology leakage[111]. Strategic Investments and Financing - The company raised a total of 830 million RMB through the issuance of "TianNai Convertible Bonds," which will strengthen its capital structure and support sustainable business development[41]. - The company plans to raise up to 2 billion RMB through a private placement of A-shares to fund projects that will enhance carbon nanotube production capacity and quality[42]. - The company approved the issuance of convertible bonds to unspecified investors, with specific plans outlined in the board meetings held on March 24, 2022, and March 11, 2022[200]. - The company plans to use funds raised from convertible bonds to replace self-raised funds and to increase capital for its wholly-owned subsidiaries[200]. Employee and Management Structure - The total number of shares held by the chairman and general manager, Zheng Tao, at the end of the reporting period is 23,507,502 shares, with no change during the year[184]. - The total pre-tax remuneration for Zheng Tao is 158.00 million yuan[184]. - The company has implemented employee incentive plans in 2020 and 2022 to enhance talent development and retention[170]. - The company has a diverse management team with extensive experience in various technology and engineering sectors, enhancing its R&D capabilities[194]. Product Development and Innovation - The company has successfully developed a process for the large-scale production of single-walled carbon nanotubes, enhancing its competitive edge in the industry[37]. - The company has developed a controllable catalyst for the directional growth of carbon nanotubes, enhancing the length-to-diameter ratio and electrical conductivity of its products[78]. - The company has successfully developed various conductive plastic products using carbon nanotube masterbatches, achieving significant breakthroughs in commercialization[102]. - The company is committed to energy-saving and clean production practices to reduce raw material and production costs while minimizing waste emissions[168].

Financial Performance - The company's operating revenue for 2022 was CNY 1,841,527,634.77, representing a 39.51% increase compared to CNY 1,319,956,531.27 in 2021[22]. - Net profit attributable to shareholders was CNY 424,200,310.44, up 43.37% from CNY 295,883,218.86 in the previous year[25]. - The net cash flow from operating activities increased by 269.96%, reaching CNY 107,502,253.04, primarily due to increased revenue and related subsidies[25]. - Total assets rose by 56.85% to CNY 4,062,734,238.16, driven by increased receivables and fixed asset investments[25]. - Basic earnings per share for 2022 were CNY 1.83, a 42.97% increase from CNY 1.28 in 2021[24]. - The company's main business revenue reached 1,837.60 million RMB, an increase of 39.55% compared to the previous year[129]. - The gross profit margin improved to 35.01%, an increase of 1.12 percentage points compared to the previous year[135]. - The company reported a significant increase in revenue, achieving a total of $1.5 billion for the quarter, representing a 25% year-over-year growth[190]. Research and Development - The company’s R&D expenditure accounted for 4.78% of operating revenue, up from 3.94% in the previous year[24]. - The company invested 88.11 million RMB in R&D, a 69.58% increase compared to the previous year, with 168 R&D personnel[35]. - The company has developed three generations of carbon nanotube products, with the fourth generation currently in mass production and the fifth generation under development[94]. - The company is focused on maintaining its indirect shareholding structure, ensuring stability among its key executives[192]. - The company is increasing its R&D investment to explore new applications for carbon nanotubes, ensuring its products remain at the industry-leading performance level[173]. Market Position and Expansion - The carbon nanotube conductive paste market in China reached 117,000 tons in 2022, with the company holding a market share of 40.3%[37]. - The company is expanding production capacity with projects in the U.S. and Europe, including an 8,000-ton production line for carbon nanotube conductive paste in the U.S.[38]. - The company plans to expand its production capacity and market reach, moving from domestic to international markets, particularly in the lithium battery sector[169]. - The company is actively expanding its overseas market presence, having already supplied products to some leading overseas clients[174]. - The company has established joint ventures to produce new cathode materials, including lithium iron phosphate and lithium manganese iron phosphate, to further diversify its product offerings[120]. Corporate Governance - The company has confirmed that all board members attended the board meeting, ensuring governance compliance[5]. - The company has not reported any special arrangements for corporate governance[9]. - The company has not experienced any violations of decision-making procedures regarding external guarantees[9]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[9]. Risks and Challenges - The company has outlined potential risks in its management discussion and analysis section, specifically in the "Risk Factors" section[4]. - The company faces risks related to the market acceptance of carbon nanotube conductive agents and potential competition from superior materials[108]. - The company faces risks related to fluctuations in market demand for new energy vehicles, which could impact the demand for lithium batteries and related materials[126]. - The company has reported an increase in R&D activities, with 19 new invention patent applications and 22 new utility model patent applications during the reporting period[81]. Financial Strategy - The company raised a total of 830 million RMB through the issuance of "TianNai Convertible Bonds," which will strengthen its capital structure and support sustainable business development[41]. - The company plans to raise up to 2 billion RMB through a private placement of A-shares to fund projects that will enhance carbon nanotube production capacity and quality[42]. - The company has implemented measures to strengthen accounts receivable management, with accounts receivable totaling 807.31 million yuan in 2022, but remains exposed to bad debt risks if market conditions worsen[122]. - The company is focusing on the management of raised funds and their actual usage as part of its financial oversight[200]. Employee and Management - The company has implemented a stock incentive plan granting 366,000 restricted shares to 116 employees to attract and retain talent, enhancing long-term development[43]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to RMB 8.6037 million[198]. - The total remuneration for core technical personnel at the end of the reporting period amounted to RMB 5.9128 million[198]. - The company has established stable relationships with leading domestic lithium battery manufacturers, enhancing its customer advantage[99]. Sustainability and Social Responsibility - The management highlighted a focus on sustainability initiatives, aiming to reduce carbon emissions by I% by 2025[189]. - The company emphasizes energy-saving and clean production methods to reduce raw material and production costs while minimizing waste emissions[168]. - The company is committed to enhancing its corporate social responsibility as outlined in the 2021 annual report[200].

Financial Performance - In Q1 2023, the company's operating revenue was CNY 278,697,953.43, a decrease of 41.99% compared to the same period last year[9] - The net profit attributable to shareholders was CNY 39,729,245.60, down 60.25% year-on-year[9] - Basic and diluted earnings per share were both CNY 0.17, reflecting a decrease of 60.47% year-on-year[9] - The company reported a net profit margin of approximately 11.5% for Q1 2023, compared to 20.0% in Q1 2022[35] - The total profit of 45,395,316.09 CNY, down from 116,106,511.64 CNY, reflecting a decline of approximately 60.9% year-over-year[37] - The comprehensive income attributable to the parent company was 39,388,597.83 CNY, down from 99,765,000.17 CNY, indicating a decrease of about 60.5% year-over-year[40] - The company reported a decrease in accounts receivable to ¥308,959,064.03 in Q1 2023 from ¥403,541,339.80 in Q1 2022, a reduction of 23.5%[49] Research and Development - The R&D investment totaled CNY 22,275,127.01, representing 7.99% of operating revenue, an increase of 4.01 percentage points[6] - Research and development expenses increased to $22.28 million in Q1 2023, compared to $19.13 million in Q1 2022, reflecting a growth of 11.3%[35] - The company is focusing on expanding its R&D efforts, as indicated by the increase in R&D expenses, which may lead to new product developments in the future[51] Cash Flow and Liquidity - The net cash flow from operating activities was CNY 39,092,105.85, a significant increase of 617.08% compared to the previous year[9] - Cash flow from operating activities generated a net amount of 39,092,105.85 CNY, a significant improvement from a net outflow of -7,560,232.54 CNY in the previous year[44] - The total cash and cash equivalents decreased by 25,668,645.34 CNY, contrasting with an increase of 210,070,872.43 CNY in the same period last year[44] - The company's cash flow from operating activities was not detailed, but the decrease in cash and cash equivalents suggests potential liquidity challenges[50] - The total cash and cash equivalents at the end of Q1 2023 stood at CNY 389,113,442.40, up from CNY 159,627,557.08 at the end of Q1 2022[59] Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,026,853,992.94, a decrease of 0.88% from the end of the previous year[6] - The company's total current assets decreased to $2.27 billion as of March 31, 2023, from $2.44 billion at the end of 2022, a decline of 7.1%[26] - Total liabilities amounted to $1.52 billion as of March 31, 2023, slightly down from $1.53 billion at the end of 2022, a decrease of 0.6%[30] - Total liabilities decreased to ¥1,442,226,368.81 in Q1 2023 from ¥1,484,644,196.57 in Q1 2022, indicating a reduction of 2.9%[49] Financial Expenses - Financial expenses increased by 62.84% due to interest accrued on convertible bonds during the reporting period[18] - The company’s financial expenses, including interest expenses, rose to $9.11 million in Q1 2023 from $5.59 million in Q1 2022, an increase of 62.5%[35] Sales and Market Performance - The company experienced a decline in sales volume of its main product, carbon nanotube conductive paste, due to decreased demand[18] - The cost of goods sold in Q1 2023 was ¥196,254,008.01, down from ¥342,869,949.84 in Q1 2022, reflecting a 42.9% reduction[51] - The company reported sales revenue from goods and services of CNY 181,793,306.00, an increase from CNY 165,938,774.47 in Q1 2022[57] Shareholder Information - The company had a total of 16,031 common shareholders at the end of the reporting period[66]

江苏天奈科技股份有限公司 | 证券代码：688116 | 证券简称：天奈科技 | 公告编号：2023-033 | | --- | --- | --- | | 转债代码：118005 | 债券简称：天奈转债 | | 关于召开 2022 年度业绩暨现金分红说明会的公告 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个别及连带责任。 （二）会议召开地点：上证路演中心 （三）会议召开方式：上证路演中心网络互动 三、参加人员 董事长、总经理：郑涛先生 重要内容提示： 江苏天奈科技股份有限公司（以下简称"公司"）已于 2023 年 04 月 20 日发布公司 2022 年年度报告，为便于广大投资者更全面深入地 了解公司 2022 年度经营成果、财务状况，公司计划于 2023 年 05 月 10 日下午 13:00-14:00 举行 2022 年度业绩暨现金分红说明会，就投 资者关心的问题进行交流。 一、说明会类型 会议召开时间：2023 年 05 月 10 日(星期三)下午 13:00-14:00 会议召开地点： 上海证券 交 易 所 上 证 路 ...