关于中复神鹰碳纤维股份有限公司 二〇二五年度募集资金存放与 实际使用情况鉴证报告 致同会计师事务所 (特殊普通合伙) 目 录 关于中复神鹰碳纤维股份有限公司 2025年度募集资金存放与实际 使用情况鉴证报告 中复神鹰碳纤维股份有限公司 2025年度募集资金存放与实际使用 1-6 情况的专项报告 g t Thornton t 1 日 +86 10 8566 5120 关于中复神鹰碳纤维股份有限公司 2025年度募集资金存放与实际使用情况 鉴证报告 致同专字(2026)第 110A003726 号 中复神鹰碳纤维股份有限公司全体股东: 我们接受委托,对后附的中复神鹰碳纤维股份有限公司(以下简称中复 神鹰公司)《2025年度募集资金存放与实际使用情况的专项报告》(以下简 称"专项报告")执行了合理保证的鉴证业务。 按照《上市公司募集资金监管规则》和《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》的要求编制 2025年度专项报告,保证 其内容真实、准确、完整,不存在虚假记录、误导性陈述或重大遗漏是中复 神鹰公司董事会的责任,我们的责任是在实施鉴证工作的基础上对中复神鹰 公司董事会编制的 202 ...

中复神鹰碳纤维股份有限公司 关于在中国建材集团财务有限公司办理 存贷款业务的风险持续评估报告 根据《关于规范上市公司与企业集团财务公司业务往来的通知》（证监发〔2 022〕48 号）的要求，针对中复神鹰碳纤维股份有限公司（以下简称"公司"） 与中国建材集团财务有限公司（以下简称"中建材财务公司"或"财务公司"） 签署了《金融服务协议》的事项，公司通过查验中建材财务公司《金融许可证》 《营业执照》等证件资料，并审阅了中建材财务公司验资报告及 2025 年年度财 务报告，对中建材财务公司的经营资质、业务和风险状况进行了评估，现将有关 风险评估情况报告如下： 一、中建材财务公司的基本情况 中国建材集团财务有限公司成立于 2013 年 4 月 23 日，是经原中国银行业监 督管理委员会批准成立的非银行金融机构。 注册地址：北京市海淀区复兴路 17 号 2 号楼 9 层 法定代表人：陶铮 金融许可证机构编码：L0174H211000001 统一社会信用代码：9111000071783642X5 注册资本：47.21 亿元人民币，其中：中国建材集团有限公司（以下简称"中 国建材集团"）出资 36.79 亿元，占比 77. ...

本公司董事会及全体董事保证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： 一、 召开会议的基本情况 证券代码：688295 证券简称：中复神鹰 公告编号：2026-018 中复神鹰碳纤维股份有限公司 关于召开2025年年度股东会的通知 召开日期时间：2026 年 4 月 16 日14 点 00 分 召开地点：江苏省连云港市经济技术开发区大浦工业区公司会议室 （五） 网络投票的系统、起止日期和投票时间 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2026 年 4 月 16 日 （一） 股东会类型和届次 2025年年度股东会 （二） 股东会召集人：董事会 （三） 投票方式：本次股东会所采用的表决方式是现场投票和网络投票相 结合的方式 （四） 现场会议召开的日期、时间和地点 至2026 年 4 月 16 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东会召开当日的交易时间段，即 9:15-9:25，9:30-11:30，13:00-15:00；通过 互联网投票平台的投票时间为股东会召开当日的 ...

中复神鹰碳纤维股份有限公司 第二届董事会第十六次会议决议公告 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。 一、董事会会议召开情况 中复神鹰碳纤维股份有限公司（以下简称"公司"）第二届董事会第十六次 会议通知于 2026 年 3 月 14 日以电子邮件的方式发出，会议于 2026 年 3 月 24 日在公司会议室以现场结合通讯方式召开。本次会议应出席董事 9 人，实际出席 董事 9 人。会议由董事长张健主持，公司高级管理人员等列席了会议。会议的召 集和召开符合《公司法》《证券法》等法律法规及《公司章程》《董事会议事规则》 等相关规定，会议的表决程序和表决结果合法有效。 二、董事会会议审议情况 会议经全体参会董事表决，形成决议如下： （一）审议通过《公司董事 2025 年度薪酬情况的议案》 证券代码：688295 证券简称：中复神鹰 公告编号：2026-011 2025 年度，在公司担任具体职务的董事，根据其在公司的具体任职岗位领 取相应报酬，不领取董事津贴。独立董事享有固定数额的津贴，在公司股东单位 任职的董事不在公司领 ...

证券代码：688295 证券简称：中复神鹰 公告编号：2026-012 中复神鹰碳纤维股份有限公司 2025 年年度利润分配预案公告 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法律责任。 重要内容提示： 分配比例：每 10 股派发现金红利 0.33 元（含税），本次利润分配不进行 资本公积转增股本，不送红股。 本次利润分配以实施权益分派股权登记日登记的总股本为基数，具体日 期将在权益分派实施公告中明确。在实施权益分派股权登记日前公司总股本发生 变动的，拟维持分配总额不变，相应调整每股分配比例，公司将履行相应审议程 序，并及时公告具体调整情况。 公司未触及《上海证券交易所科创板股票上市规则》（以下简称《科创板 股票上市规则》）第 12.9.1 条第一款第（八）项规定的可能被实施其他风险警示 的情形。 本次利润分配预案尚需提交公司 2025 年年度股东会审议。 （一）利润分配预案的具体内容 经致同会计师事务所（特殊普通合伙）审计，截至 2025 年 12 月 31 日，中 复神鹰碳纤维股份有限公司（以下简称"公司"）2025 年度合并报 ...

中复神鹰碳纤维股份有限公司2025 年年度报告 公司代码：688295 公司简称：中复神鹰 中复神鹰碳纤维股份有限公司 2025 年年度报告 2026 年 3 月 1 / 269 中复神鹰碳纤维股份有限公司2025 年年度报告 重要提示 一、本公司董事会及董事、高级管理人员保证年度报告内容的真实性、准确性、完整性，不存在 虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、公司上市时未盈利且尚未实现盈利 □是 √否 三、重大风险提示 母公司存在未弥补亏损 □适用 √不适用 2 / 269 公司已在本报告中详细阐述在经营过程中可能面临的各种风险及应对措施，敬请查阅本报告 第三节"管理层讨论与分析"之"四、风险因素"。 四、公司全体董事出席董事会会议。 五、致同会计师事务所(特殊普通合伙)为本公司出具了标准无保留意见的审计报告。 六、公司负责人张健、主管会计工作负责人王暖及会计机构负责人（会计主管人员）冯素超声明： 保证年度报告中财务报告的真实、准确、完整。 七、董事会决议通过的本报告期利润分配预案或公积金转增股本预案 经致同会计师事务所(特殊普通合伙)审计，截至2025年12月31日，公司2025 ...

Core Viewpoint - The domestic carbon fiber industry is experiencing a dual drive of technological breakthroughs and market expansion, enhancing its global influence by 2026 [5] Group 1: Industry Development - The high-end carbon fiber market, previously dominated by Japanese companies, has seen domestic firms achieve key breakthroughs, with traditional applications continuing to grow and emerging sectors becoming significant growth engines [6][7] - By the end of 2023, companies like Zhongfu Shenying have achieved large-scale supply of T1000-grade carbon fiber, and by March 2026, T1200-grade carbon fiber will be mass-produced, breaking Japan's monopoly in the high-end carbon fiber sector [9][10] - The domestic carbon fiber industry is entering a period of dual opportunities for technological upgrades and market expansion, driven by raw material price fluctuations, overseas order releases, and export policy adjustments [7] Group 2: Demand Reconstruction - The application scenarios for domestic carbon fiber are continuously expanding, with high-performance carbon fiber (T800 and above) expected to grow at an annual rate of 20%-30%, becoming the core growth line for the industry [12] - The domestic carbon fiber market is projected to reach 8.5 million tons by 2026, with a significant reduction in import dependency [14] - The demand for carbon fiber in traditional sectors like wind power is increasing, with projections of 4-4.5 million tons by 2026, accounting for nearly 50% of domestic usage [15] Group 3: Supply Structure - The domestic carbon fiber industry is led by companies such as Jilin Chemical Fiber, Zhongfu Shenying, and Guangwei Composites, with cost control capabilities being a core competitive factor [19] - Jilin Chemical Fiber has a cost advantage with a full cost of approximately 72,000 yuan/ton, leading in the wind power sector [20] - Different companies are adopting various production processes, with Zhongfu Shenying focusing on dry-jet wet spinning and Jilin Chemical Fiber on wet spinning, catering to different market segments [21] Group 4: Price Expectations - The carbon fiber industry has undergone two rounds of price increases since December 2025, with Jilin Chemical Fiber leading the way [23] - The core drivers for price increases include rising costs of key raw materials and a tightening supply of high-quality production capacity [25][26] - Future price trends are expected to stabilize with a controlled fluctuation, as the industry shifts from low-price competition to value competition [28] Group 5: Future Trends and Investment Opportunities - The international competitiveness of domestic carbon fiber is expected to strengthen, with exports projected to reach 15,000 tons by 2025, primarily in wind power and specific military sectors [30] - The industry is entering a golden period characterized by high-quality development, accelerated domestic substitution, and global expansion [31] - Investment opportunities are identified in leading companies with cost and scale advantages, as well as high-tech firms focusing on high-end carbon fiber products [32]

Summary of Carbon Fiber Industry Conference Call Industry Overview - The conference call focused on the carbon fiber industry, particularly highlighting the advancements made by domestic companies in China, such as Zhongfu Shenying and Jilin Chemical Fiber, in producing high-performance carbon fibers like T1,200 grade, which has broken the long-standing monopoly of Japan's Toray [1][2]. Key Points and Arguments Breakthroughs in Technology - Zhongfu Shenying announced the mass production of T1,200 grade carbon fiber, marking a significant milestone in China's ability to compete with international leaders [2]. - The T1,200 grade carbon fiber has a strength exceeding 8,000 MPa, indicating that domestic products can now match the performance of top-tier international products [2]. Market Demand and Projections - By 2025, China's carbon fiber consumption is projected to reach 75,000 tons, with wind energy demand doubling to 35,000 tons and aerospace applications increasing to 7,500 tons [1]. - The demand for T800 and above grade carbon fibers is expected to grow at an annual rate of 20%-30%, driven by applications in satellite technology and humanoid robots [1]. Competitive Landscape - The competition in the carbon fiber industry is shifting from scale to structure, with a focus on quality and application [1]. - Jilin Chemical Fiber has achieved the lowest production costs globally, with a total cost of approximately 72,000 yuan per ton, allowing for competitive pricing in the wind energy sector [1][15]. Supply Chain and Production Capacity - Major players in the domestic market include Jilin Chemical Fiber, Zhongfu Shenying, and Jiangsu Hengshen, with a combined production capacity of over 150,000 tons by 2025 [6][7]. - The production methods vary, with Jilin Chemical Fiber primarily using wet spinning and Zhongfu Shenying employing dry-jet wet spinning, each having its advantages in cost and product quality [6][7]. Price Trends and Market Dynamics - The carbon fiber industry has experienced multiple price increases since December 2025, driven by rising raw material costs and changes in supply-demand dynamics [8][9]. - The price of carbon fiber is expected to continue rising due to increased demand from the wind energy sector and geopolitical factors affecting raw material prices [11][12]. Future Outlook - The carbon fiber market is anticipated to grow significantly, with projections of reaching 85,000 tons by 2026, supported by a stable demand growth rate of 10%-15% annually [14]. - The industry is moving towards high-quality development, with a focus on reducing production costs and improving product quality to maintain competitiveness against international players [10][18]. Additional Important Insights - The cancellation of export tax rebates and stricter export audits starting in April 2026 will likely redirect production capacity towards the domestic market, stabilizing prices [12]. - Emerging applications in robotics, low-altitude economy, and new energy vehicles are expected to drive future demand for carbon fiber, with significant potential in the automotive sector if cost and performance criteria are met [13][18]. - China's carbon fiber industry is positioned to gain a larger share of the global market, with expectations of increased export volumes and a shift towards becoming a market leader [17][19].

Core Viewpoint - The article discusses the recent downturn in the A-share market, highlighting the unexpected declines despite initial optimism surrounding events like the GTC conference and the performance of various sectors, particularly real estate and technology [1][5][9]. Market Performance - From March 2 to March 17, the number of declining stocks in the A-share market fluctuated significantly, with peaks of over 4,800 stocks on March 3 and 4,523 on March 17, indicating a bearish trend [4]. - On March 17, the three major indices closed down, with the Shanghai Composite Index falling by 0.85%, the Shenzhen Component by 1.87%, and the ChiNext by 2.29%. The total market turnover was 22,247.26 billion yuan, a decrease of 1,153.86 billion yuan from the previous day [16]. Sector Analysis - The real estate sector has seen mixed signals, with some stocks initially rising but ultimately facing pressure due to broader market trends. The article notes that new housing sales are weak, while second-hand housing remains stable, indicating a lack of strength in the overall market [10]. - The technology sector, particularly stocks related to computing power hardware, experienced significant declines following the GTC conference, with companies like Tianfu Communication and Longguang Huaxin dropping over 10% [16]. Investment Sentiment - There is a prevailing sentiment of caution among investors, with many opting to reduce exposure amid geopolitical tensions and market volatility. The article suggests that controlling positions and adopting a wait-and-see approach may be prudent in the current environment [13][16]. - The article also highlights the potential for foreign capital inflows into Hong Kong, driven by geopolitical factors, as some investors consider reallocating assets due to instability in the Middle East [12][11]. Price Adjustments - Several companies have announced price increases for their products due to rising raw material costs, with Li Min Co. raising prices by 10%-15% for certain pesticides and chemicals, and Murata announcing price hikes of 15%-35% for passive components [21][23]. - The price of Vitamin A has surged by 35% since the end of February, reflecting broader inflationary pressures in the agricultural and chemical sectors [21]. Regulatory Environment - Recent regulatory changes in China have tightened the IPO process for red-chip companies in Hong Kong, which may increase listing costs and affect foreign investment dynamics [13].

证券代码：688295 证券简称：中复神鹰 公告编号：2026-010 中复神鹰碳纤维股份有限公司 股票交易异常波动暨严重异常波动公告 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： 中复神鹰碳纤维股份有限公司（以下简称"公司"）股票交易连续 3 个交 易日内（2026 年 3 月 13 日、2026 年 3 月 16 日和 2026 年 3 月 17 日）日收盘价 格涨幅偏离值累计超过 30%，根据《上海证券交易所交易规则》《上海证券交易 所科创板股票异常交易实时监控细则》的相关规定，属于股票交易异常波动情形。 公司股票交易连续 10 个交易日内日收盘价格涨幅偏离值累计达到 100%， 根据《上海证券交易所交易规则》《上海证券交易所科创板股票异常交易实时监 控细则》的相关规定，属于股票交易严重异常波动情形。 经公司自查并向公司控股股东及实际控制人书面核实，截至本公告披露 之日，公司不存在应披露而未披露的重大事项。 近日，多家媒体报道公司推出 SYT80（T1200 级）碳纤维新品，实现 SYT80 碳纤维 ...