北京市嘉源律师事务所 关于中复神鹰碳纤维股份有限公司 2024 年年度股东大会的 法律意见书 西城区复兴门内大街 158 号透 中国·北京 ิ้ IA YUAN LAW OFFICES 北京 BEIJING · 上海 SHANGHAI·深圳 SHENZHEN·香港 HONG KONG·广州 GUANGZHOU·西安 XI' AN 致:中复神鹰碳纤维股份有限公司 本所及经办律师依据《中华人民共和国证券法》《律师事务所从事证券法律 业务管理办法》和《律师事务所证券法律业务执业规则》等规定及本法律意见书 出具日以前已经发生或者存在的事实,严格履行了法定职责,遵循了勤勉尽责和 中复神鹰 2024 年年度股东大会 嘉源·法律意见书 诚实信用原则,进行了充分的核查验证,保证本法律意见所认定的事实真实、准 确、完整,所发表的结论性意见合法、准确,不存在虚假记载、误导性陈述或者 重大遗漏,并承担相应法律责任。 北京市嘉源律师事务所 关于中复神鹰碳纤维股份有限公司 2024年年度股东大会的法律意见书 嘉源(2025)-04-321 北京市嘉源律师事务所(以下简称"本所")接受中复神鹰碳纤维股份有限公 司(以下简称"公司")的委 ...

Group 1 - The company held its 11th meeting of the second board on May 7, 2025, where it approved the election of a non-independent director and the appointment of a general manager [1][2] - Chen Qiufei was nominated and approved as a non-independent director candidate and general manager, with his term lasting until the end of the current board's term [1][2] - The proposal for the election of the non-independent director will be submitted for approval at the upcoming shareholders' meeting [1] Group 2 - The 2024 annual shareholders' meeting is scheduled for May 16, 2025, with a proposal to add a temporary agenda item regarding the election of a non-independent director [5][6] - The proposal was submitted by China National Building Material Group Corporation, which holds 33.16% of the company's shares, and it complies with relevant regulations [6][7] - The company will also hear the independent directors' performance reports during the shareholders' meeting [14]

Core Viewpoints - The segmented fields show differentiated growth: semiconductor materials grow at 50%, new energy materials at 52%, and biomedical materials at 87%, while traditional structural materials maintain a stable growth of 8-10% [2] - Emerging fields are rapidly rising: AI servers with high-frequency materials grow at 60%, new energy vehicles with MLCC at 100%, foldable screens with UTG glass at 30%, and hydrogen energy with a 60% localization rate for proton exchange membranes [2] - The industrial chain is changing: semiconductor materials are developed in a bundled manner with "wafer factories + material factories," while new energy materials involve a three-in-one integration of car manufacturers, battery factories, and material suppliers [2] Market Analysis - The Chinese innovative materials market has formed a diversified tiered structure, reaching a total scale of 6 trillion yuan in 2024, with a forecast to exceed 10 trillion yuan in 2025. The segmented fields show differentiated growth: semiconductor materials (50% growth), new energy materials (52%), and biomedical materials (87%) constitute three major growth poles, while traditional structural materials grow steadily at 8-10% [10][11] - The application field is being restructured, with traditional applications (aerospace, automotive manufacturing) dropping from 65% in 2019 to 48% in 2023, while emerging fields like AI servers (CCL usage growth of 60%), new energy vehicles (MLCC demand growth of 100%), and foldable screens (UTG glass demand growth of 30%) are rapidly rising [10] Competitive Landscape and Industrial Chain Evolution - The industry concentration is accelerating, showing a dual-track pattern of "national teams leading + private specialization." China National Building Material Group, as a representative of "national materials," has achieved breakthroughs in carbon fiber and silicon nitride ceramics, with R&D investment exceeding 10 billion yuan in 2023 [12] - The collaborative model in the industrial chain is innovating significantly. In the semiconductor materials field, a "wafer factory + material factory" bundled development model has formed, while new energy materials show a three-in-one R&D model involving car manufacturers, battery factories, and material suppliers [12] Future Market Space - The innovative materials market in China is expected to reach 10 trillion yuan by 2025 and exceed 30 trillion yuan by 2030, maintaining a CAGR of 18%. The growth engines come from deepening domestic substitution, technological iteration dividends, and the expansion of emerging applications [19] - Key areas to focus on include high-end photoresists, aerospace engine materials, solid-state batteries, high-temperature superconducting materials, perovskite photovoltaic materials, high-frequency materials, MLCC, UTG glass, silicon-carbon anodes, AI + new materials, and biodegradable materials [10][19] Policy Environment and Institutional Innovation - The national strategic layout provides strong support, with the Ministry of Industry and Information Technology clarifying key development directions for frontier materials, and local governments increasing support, such as Guangdong Province establishing a 10 billion yuan new materials industry fund [15] - The policy combination has shown significant effects, with the first application insurance compensation mechanism covering 80% of key materials, reducing R&D risks for enterprises by 30% [15] Technological Innovation and Industry Upgrade - The materials genome engineering is revolutionizing the R&D model, significantly shortening the development cycle of new materials [16] - Breakthroughs in production processes are reshaping cost curves, with significant reductions in unit costs and improvements in yield rates for various materials [16] Investment Strategy Recommendations - Focus on three major tracks: high-end semiconductor materials, new energy materials, and biomedical materials. Risk control should pay attention to technological route risks and the competitive landscape of leading enterprises [25][26] - The certainty of domestic substitution is high, with significant opportunities in solid-state electrolytes and superconducting materials [26]

二、聘任公司总经理情况 公司于 2025 年 5 月 7 日召开第二届董事会第十一次会议，审议通过了《聘 任公司总经理的议案》，经公司董事会提名委员会资格审查，公司董事会同意聘 任陈秋飞先生为公司总经理，任期自董事会审议通过之日起至第二届董事会届满 之日止。 证券代码：688295 证券简称：中复神鹰 公告编号：2025-023 中复神鹰碳纤维股份有限公司 关于补选董事及聘任总经理的公告 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。 中复神鹰碳纤维股份有限公司（以下简称"公司"）于 2025 年 5 月 7 日召 开第二届董事会第十一次会议，审议通过了《补选公司非独立董事的议案》及《聘 任公司总经理的议案》，具体情况如下： 一、补选公司非独立董事情况 为完善公司治理结构，保证公司董事会的规范运作，根据《中华人民共和国 公司法》及《公司章程》等有关规定，公司于 2025 年 5 月 7 日召开第二届董事 会第十一次会议，审议通过了《补选公司非独立董事的议案》，经公司股东中建 材联合投资有限公司提名推荐，并经公司董事会提名委 ...

证券代码：688295 证券简称：中复神鹰 公告编号：2025-024 中复神鹰碳纤维股份有限公司 关于2024年年度股东大会增加临时提案的公告 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。 1. 提案人：中建材联合投资有限公司 2. 提案程序说明 公司已于2025 年 4 月 25 日公告了 2024 年年度股东大会召开通知，单独持 有33.16%股份的股东中建材联合投资有限公司，在2025 年 5 月 6 日提出临时提 案并书面提交股东大会召集人。股东大会召集人按照《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》有关规定，现予以公告。 3. 临时提案的具体内容 1. 股东大会的类型和届次： 2024年年度股东大会 | 股份类别 | | 股票代码 | 股票简称 | 股权登记日 | | --- | --- | --- | --- | --- | | A | 股 | 688295 | 中复神鹰 | 2025/5/12 | 二、 增加临时提案的情况说明 2025 年 5 月 6 日，公司董事会接到股东中建材联 ...

中复神鹰碳纤维股份有限公司 2024 年年度股东大会 会议资料（更新版） 2025 年 5 月 16 日 中复神鹰碳纤维股份有限公司（股票代码：688295） 2024 年年度股东大会会议资料 目 录 | 2024 | 年年度股东大会会议须知 | | 3 | | --- | --- | --- | --- | | 2024 | 年年度股东大会会议议程 | | 5 | | 2024 | 年年度股东大会会议议案 | | 7 | | 议案一：公司 | 2024 | | 年度董事会工作报告的议案 7 | | 议案二：公司 | 2024 | | 年度监事会工作报告的议案 14 | | 议案三：公司 | 2024 | | 年度利润分配方案的议案 17 | | 议案四：公司董事 | 2024 | | 年度薪酬情况的议案 18 | | 议案五：公司监事 | | 2024 年度薪酬情况的议案 | 19 | | 议案六：公司 | 2024 | | 年年度报告及其摘要的议案 20 | | 议案七：公司 | 2024 | | 年度财务决算报告的议案 21 | | 议案八：公司续聘 | 2025 | | 年度审计机构的议案 24 | ...

点击 最 下方 "在看"和" "并分享，"关注"材料汇 添加 小编微信 ，遇见 志同道合 的你 正文 行业背景 创新材料作为中国制造业转型升级的核心基石，正从战略支撑产业升级为国家竞争力的关键支柱。2024年，中国 创新材料产业规模已突破6万亿元，保持20%的年增速，成为全球增长最快的新材料市场。这一迅猛发展背后，是 国家战略的强力驱动——"十五五"规划将创新材料列为战略性新兴产业核心领域，配套出台《重点新材料首批次 应用示范指导目录(2024年版)》，涵盖299种新材料，为行业发展提供明确指引。 行业已进入质量跃升期： 半导体材料国产化率从2020年的15%提升至2024年的 25% ；新能源材料领域，磷酸铁 锂正极材料国产化率达 95% ，支撑宁德时代、比亚迪全球市占率超60%。但同时， 高端光刻胶、航空发动机材 料等仍面临"卡脖子"困境，国产化率不足10%。 当前行业呈现三大特征： 政策密集赋能、技术加速突破、应用场景拓展 。特别是在"双碳"目标和数字经济驱动 下， 固态电池材料、高温超导材料、钙钛矿光伏材料 等前沿领域正催生千亿级新赛道。 市场现状分析 产业规模与结构分布 中国创新材料市场已形成多元化 ...

中复神鹰碳纤维股份有限公司 2024 年年度股东大会 会议资料 2025 年 5 月 16 日 中复神鹰碳纤维股份有限公司（股票代码：688295） 2024 年年度股东大会会议资料 目 录 | 2024 | 年年度股东大会会议须知 | | 3 | | --- | --- | --- | --- | | 2024 | 年年度股东大会会议议程 | | 5 | | 2024 | 年年度股东大会会议议案 | | 7 | | 议案一：公司 2024 | | 年度董事会工作报告的议案 | 7 | | 议案二：公司 2024 | | 年度监事会工作报告的议案 | 14 | | 议案三：公司 2024 | | 年度利润分配方案的议案 | 17 | | 议案四：公司董事 | | 2024 年度薪酬情况的议案 | 18 | | 议案五：公司监事 | | 2024 年度薪酬情况的议案 | 19 | | 议案六：公司 2024 | | 年年度报告及其摘要的议案 | 20 | | 议案七：公司 2024 | | 年度财务决算报告的议案 | 21 | | 议案八：公司续聘 | | 2025 年度审计机构的议案 | 24 | | 议案九 ...

丨证券研究报告丨 公司研究丨点评报告丨中复神鹰（688295.SH） [Table_Title] 价格下行，修炼内功 报告要点 [Table_Summary] 中复神鹰 1 季度实现营业收入 4 亿元，同比下降 10%；归属净利润-0.45 亿元，同比下降 208%， 扣非净利润约-0.58 亿元，同比下降 479%。 分析师及联系人 [Table_Author] 范超 张佩 董超 SAC：S0490513080001 SAC：S0490518080002 SAC：S0490523030002 SFC：BQK473 请阅读最后评级说明和重要声明 %% %% %% %% research.95579.com 1 中复神鹰（688295.SH） cjzqdt11111 [Table_Title2] 价格下行，修炼内功 [Table_Summary2] 事件描述 1 季度实现营业收入 4 亿元，同比下降 10%；归属净利润-0.45 亿元，同比下降 208%，扣非 净利润约-0.58 亿元，同比下降 479%。 事件评论 风险提示 1、碳纤维行业产能投放超预期； 2、原材料和能源价格大幅波动。 请阅读最后评级说明和 ...

Investment Rating - The industry view for Greater China Materials is rated as Attractive [6] Core Insights - Lithium demand may be pressured by trade tensions, with a market surplus expected to increase to approximately 10,000 tons of lithium carbonate equivalent (LCE) in April, leading to downward pressure on prices [2][3] - Uranium fundamentals remain solid despite a spot price correction, with term pricing stable at around US$80 per pound, indicating a constructive medium-to-long-term supply-demand outlook [3] - Solar glass prices are likely to stabilize due to supply responses, although pressures are expected to persist in the second half of 2025 as demand decreases [4][10] Summary by Sections Lithium - Demand in 1Q25 was stronger than expected due to EV trade-in programs and energy storage system (ESS) demand, but the peak season in 2Q25 is anticipated to be muted due to earlier demand pull-forward [2] - Tariff uncertainties have caused large EV makers to pause April order books, leading to a potential price bottom for lithium carbonate at approximately Rmb65,000 per ton [2] Uranium - The spot price has declined to around US$60 per pound, influenced by uncertainties regarding Russian enriched uranium and US tariffs, but the gap between spot and term prices has widened, limiting further downside [3] - Supply imbalances are expected to gradually reflect in the market, potentially pushing uranium prices higher and benefiting companies like CGN Mining [3] Solar Glass - A reasonable recovery was noted in 1Q25, with prices rebounding due to increased demand from module producers, but a decrease in demand is expected in June as rush installations conclude [4][10] - The near-term supply and demand for solar glass could remain solid, supporting earnings recovery for producers, but increased industry supply may pressure prices again in 2H25 [10] Rare Earth Magnets - An upward trend in rare earth prices is anticipated due to new smelting regulations and tariffs, which could tighten supply from imports, benefiting producers [11] Stock Ratings - Overweight-rated stocks include Xinyi Solar, CGN Mining, and various rare earth magnet producers, with significant upside potential noted for several companies [12][13]