Core Viewpoint - The company plans to invest in a silicon-based OLED microdisplay backplane production project in collaboration with Visionary Technology and specific clients [1] Group 1: Investment Details - The company intends to invest no more than 1.8 billion yuan in the project, with an additional 600 million yuan allocated for capital increase in its wholly-owned subsidiary, Yirui Hefei [1] - The investment will be funded through the company's own funds and a deposit provided by Visionary Technology [1] Group 2: Production Capacity - Upon completion of the project, the company will add a production capacity of 5,000 silicon-based OLED microdisplay backplanes per month [1] - The project aims to achieve large-scale mass production of the backplanes [1]

| 证券代码：688301 | 证券简称：奕瑞科技 | 公告编号：2025-035 | | --- | --- | --- | | 转债代码：118025 | 转债简称：奕瑞转债 | | 奕瑞电子科技集团股份有限公司 关于对全资子公司增资暨对外投资的公告 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： 1、公司对外投资项目可行性分析是基于当前国内外市场经济环境、消费趋 势、产品价格、原料供应和工艺技术水平等因素作为假设性条件。若公司实施过 程中上述假设条件发生重大变化，或者出现项目资金不能及时到位、项目延期实 施、行业竞争加剧等情况，将会给项目的预期效果带来较大影响，使公司无法按 照既定计划实现预期的经济效益。 2、本项目的投资进度、建设周期、投资效益及投资回收期等计划和预测存 在不能按期推进和实现的风险；同时，随着固定资产增加、计提折旧和摊销增加， 如项目不能如期产生效益或实际收益低于预期，则可能存在盈利减少的风险。 1 投资标的名称：硅基OLED微显示背板生产项目（暂定名，最终以发改 委等部门登记为准） ...

重要内容提示： 是否需要提交股东大会审议：是 关联交易对公司的影响：公司与关联方发生的关联交易遵循公允、合理 的原则，不存在损害公司及其他非关联方的利益，不存在损害中小股东利益的情 形，不会对关联方形成依赖，不会影响公司独立性。 | 证券代码：688301 | 证券简称：奕瑞科技 | 公告编号：2025-034 | | --- | --- | --- | | 转债代码：118025 | 转债简称：奕瑞转债 | | 奕瑞电子科技集团股份有限公司 关于新增 2025 年度关联交易预计的公告 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。 一、关联交易基本情况 （一）关联交易履行的审议程序 1、奕瑞电子科技集团股份有限公司（以下简称"公司"、"奕瑞科技"）已于 2025 年 1 月 22 日召开了第三届董事会审计委员会 2025 年第一次会议、第三届 董事会独立董事专门会议 2025 年第一次会议、第三届董事会第十二次会议及第 三届监事会第十一次会议，会议审议通过了《关于预计 2025 年度日常性关联交 易的议案》。具体内容详见 ...

Group 1 - The company plans to increase capital by 600 million yuan for its wholly-owned subsidiary, Yirui Hefei, and invest up to 1.8 billion yuan in the construction of a silicon-based OLED microdisplay backplane production project [1] - The project is expected to have a construction period of 12 months, an internal rate of return of 11.01%, and a payback period (after tax) of 6.7 years [1] - The funding sources for the project will be the company's own and self-raised funds, as well as a performance bond from Shiya Technology Co., Ltd. [1] Group 2 - The project aims to add a production capacity of 5,000 silicon-based OLED microdisplay backplanes per month to meet the demands of specific customers and Shiya Technology [1]

Core Viewpoint - The legal opinion letter confirms that the 2024 annual general meeting of Yirui Electronics Technology Group Co., Ltd. was convened and conducted in compliance with relevant Chinese laws and regulations, as well as the company's articles of association [4][9]. Group 1: Meeting Procedures - The notice for the 2024 annual general meeting was published on April 26, 2025, in accordance with the requirements of the Shanghai Stock Exchange [4][5]. - The meeting utilized a combination of on-site and online voting methods, with specific time slots designated for each voting method [5][6]. - The notice for the meeting was published more than 20 days prior to the meeting date, meeting legal requirements [5][6]. Group 2: Voting Participation and Qualifications - A total of 5 shareholders participated in the on-site voting, representing 24,032,943 shares, which is 16.82% of the total voting shares [6]. - The combined results from on-site and online voting showed participation from 113 shareholders, representing 76,768,398 shares, or 53.73% of the total voting shares [6][8]. - The qualifications of the participating shareholders and the convenor of the meeting were verified to be in compliance with legal and regulatory standards [6][9]. Group 3: Voting Procedures and Results - The meeting reviewed several proposals, including the 2024 annual board report and financial statements, with specific proposals requiring special resolutions [7][8]. - Proposals 1 to 4 and 6 to 9 were passed by ordinary resolution, while proposals 5, 10 to 12 were passed by special resolution, requiring two-thirds majority approval [8][9]. - The voting process and results were confirmed to be legal and valid according to Chinese laws and the company's articles of association [8][9].

Meeting Overview - The shareholders' meeting of Yirui Technology Group Co., Ltd. was held on May 20, 2025, in Shanghai [1] - A total of 113 ordinary shareholders attended, holding 76,768,398 voting rights, which represents 53.7259% of the company's total voting rights [1] Voting Results - All non-cumulative voting proposals were approved with a high level of agreement from ordinary shareholders, with votes as follows: - Proposal 1: 76,720,411 votes in favor (99.9375%), 34,418 against (0.0448%), 13,569 abstentions (0.0177%) [2] - Proposal 2: 76,712,323 votes in favor (99.9270%), 33,318 against (0.0434%), 22,757 abstentions (0.0296%) [2] - Proposal 3: 76,707,293 votes in favor (99.9204%), 44,556 against (0.0580%), 16,549 abstentions (0.0216%) [2] - Proposal 4: 76,705,691 votes in favor (99.9183%), 49,138 against (0.0640%), 13,569 abstentions (0.0177%) [2] Legal Compliance - The meeting's convening and voting procedures complied with relevant Chinese laws and the company's articles of association, ensuring the legality and validity of the meeting and its results [4]

2025 年 5 月 20 日 FANGDA PARTNERS http://www.fangdalaw.com 中国深圳市福田区中心四路 1 号 电子邮件 E-mail: email@fangdalaw.com 嘉里建设广场 T1 座 9 楼 电 话 Tel.: 86-755-8159-3999 邮政编码：518048 传 真 Fax: 86-755-8159-3900 9/F, Tower One, Kerry Plaza 1 Zhong Xin Si Road Futian District Shenzhen 518048, China 上海市方达（深圳）律师事务所 关于奕瑞电子科技集团股份有限公司 2024 年年度股东大会的 法律意见书 致：奕瑞电子科技集团股份有限公司 上海市方达（深圳）律师事务所（以下简称"本所"）是具有中华人民共和 国境内法律执业资格的律师事务所。根据相关法律顾问协议，本所指派律师出席 奕瑞电子科技集团股份有限公司（以下简称"公司"）2024 年年度股东大会（以 下简称"本次股东大会"），并就本次股东大会的召集和召开程序、参与表决和 召集会议人员的资格、表决程序和表决结果等有关事 ...

| 证券代码：688301 | 证券简称：奕瑞科技 | 公告编号：2025-032 | | --- | --- | --- | | 转债代码：118025 | 转债简称：奕瑞转债 | | 奕瑞电子科技集团股份有限公司 2024年年度股东大会决议公告 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。 重要内容提示： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东大会召开的时间：2025 年 5 月 20 日 （二） 股东大会召开的地点：上海市浦东新区环桥路 999 号奕瑞电子科技集团 股份有限公司一楼会议室 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 113 | | --- | --- | | 普通股股东人数 | 113 | | 2、出席会议的股东所持有的表决权数量 | 76,768,398 | | 普通股股东所持有表决权数量 | 76,768,398 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 ...

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [5] Core Views - The company experienced a revenue of 1.83 billion yuan in 2024, a year-over-year decrease of 1.7%, and a net profit attributable to shareholders of 470 million yuan, down 23.4% year-over-year. In Q1 2025, the revenue was 480 million yuan, a decrease of 1.9% year-over-year, while the net profit attributable to shareholders was 140 million yuan, an increase of 2.7% year-over-year [1][2] Performance Summary - In 2024, the company faced pressure on performance due to a slowdown in bidding and fluctuations in demand for new energy testing. However, the company is in a strategic upgrade phase, with ongoing construction projects expected to enhance long-term growth potential. The company is transitioning from a flat detector supplier to a comprehensive imaging solution provider, indicating strong medium to long-term investment value [2][4] - The company launched new medical products, including a 64-row medical CT detector module, and high-end DSA detectors have entered mass production. The new core component business generated revenue of 126 million yuan in 2024, a year-over-year increase of 45.5%, while the comprehensive solutions and technical services business achieved revenue of 86.8 million yuan, a year-over-year increase of 226.3% [2][3] Growth Potential - The company has established overseas sales or customer service platforms in various countries, including the USA, Germany, South Korea, India, Japan, Mexico, Pakistan, Brazil, and South Africa. The company has seen positive growth from major customers, with dental products achieving small batch sales overseas and industrial core components performing well, generating nearly 100 million yuan in revenue [4] - The company is expected to see a gradual recovery in gross margin and a decrease in operating expense ratios as low-margin new products scale up. The operating cash flow for 2024 was 360 million yuan, a year-over-year increase of 5.9% [9][10] Financial Forecasts - The company forecasts revenues of 2.23 billion yuan in 2025, representing a year-over-year growth of 22.01%, and a net profit attributable to shareholders of 599 million yuan, an increase of 28.67% year-over-year. The expected EPS for 2025 is 4.18 yuan, with a current price-to-earnings ratio of 29.7 times [10][12]

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [5] Core Views - The company experienced a revenue of 1.83 billion yuan in 2024, a year-over-year decrease of 1.7%, and a net profit attributable to shareholders of 470 million yuan, down 23.4% year-over-year. In Q1 2025, the revenue was 480 million yuan, a decrease of 1.9% year-over-year, while the net profit attributable to shareholders was 140 million yuan, an increase of 2.7% year-over-year [1][2] - The company is currently in a strategic upgrade phase, with ongoing construction projects and product line expansions. Although short-term pressures from fixed asset depreciation may affect profits, the long-term outlook remains positive due to the rapid growth in the sectors the company operates in [2][4] - New product launches, such as the 64-row medical CT detector module and high-end DSA detectors, have entered mass production. The company has also made significant progress in developing key technologies related to photon counting detectors [2][3] Performance Analysis - In 2024, the company's gross margin was 50.1%, a decrease of 7.7 percentage points year-over-year, and the net profit margin was 24.6%, down 7.9 percentage points year-over-year. The changes in product mix are believed to be the main reason for this decline [9] - The operating cash flow for 2024 was 360 million yuan, a year-over-year increase of 5.9%, with the net cash flow from operating activities accounting for 94.2% of net operating income, showing a significant improvement [9] Financial Forecast and Valuation - The company is expected to achieve earnings per share (EPS) of 4.18 yuan, 5.19 yuan, and 6.30 yuan for the years 2025, 2026, and 2027, respectively. The current stock price corresponds to a price-to-earnings (P/E) ratio of 29.7 times for 2025. Given the company's successful expansion of new products and pipelines, the long-term growth potential is considered substantial [10][12]