湖南启元律师事务所 关于三一重能股份有限公司 2025 年员工持股计划的 法律意见书 2025 年 3 月 湖南启元律师事务所 法律意见书 致：三一重能股份有限公司 湖南启元律师事务所（以下简称"本所"）接受三一重能股份有限公司（以 下简称"公司"、"三一重能"）的委托，作为公司2025年员工持股计划项目（以 下简称"本次员工持股计划"、"员工持股计划"）专项法律顾问。 本所律师根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中 华人民共和国证券法》（以下简称"《证券法》"）及中国证券监督管理委员会 （以下简称"中国证监会"）发布的《关于上市公司实施员工持股计划试点的指 导意见》（以下简称"《试点指导意见》"）、上海证券交易所（以下简称"上 交所"）发布的《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》（以下简称"《自律监管指引》"）、《上海证券交易所科创板股票上市规 则》（以下简称"《股票上市规则》"）等现行法律、法规和规范性文件以及《三 一重能股份有限公司公司章程》（以下简称"《公司章程》"）的有关规定，按 照律师行业公认的业务标准、道德规范和勤勉尽责精神，就公司本次员工持股计 划 ...

证券代码：688349 证券简称：三一重能 公告编号：2025-020 一、 召开会议的基本情况 召开日期时间：2025 年 3 月 28 日 15 点 00 分 召开地点：北京市昌平区北清路三一产业园 1 号楼 1 号会议室 （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大会网络投票系统 网络投票起止时间：自 2025 年 3 月 28 日 三一重能股份有限公司 关于召开 2025 年第二次临时股东大会的通知 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： 至 2025 年 3 月 28 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 1 股东大会召开日期：2025年3月28日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 （一） 股东大会类型和届次 2025 年第二次临时股东大会 （二） 股东大会召集人：董事会 （三） 投票方式：本次股东大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 ...

三一重能股份有限公司 监事会关于公司 2025 年员工持股计划相关事项的核查意见 综上所述，监事会同意公司实施本次员工持股计划，并同意将《2025 年员 工持股计划（草案）》及其摘要提交股东大会审议。 1 三一重能股份有限公司监事会 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民 共和国证券法》（以下简称"《证券法》"）、《关于上市公司实施员工持股计 划试点的指导意见》（以下简称"《指导意见》"）、《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》（以下简称"《科创板自律监管指引 第 1 号》"）等法律法规的相关规定，经认真审核，我们就三一重能股份有限公 司（以下简称"公司"）拟实施的《2025 年员工持股计划（草案）》及其摘要 的相关事项发表意见如下： 1、公司不存在《指导意见》《科创板自律监管指引第 1 号》等法律法规、 规范性文件规定的禁止实施员工持股计划的情形，《公司 2025 年员工持股计划 （草案）》及其摘要的内容符合《公司法》《证券法》《指导意见》等有关法律 法规及规范性文件以及《公司章程》的规定，公司审议 2025 年员工持股计划相 关议案的程序合法、有效， ...

证券代码：688349 证券简称：三一重能 公告编号：2025-016 三一重能股份有限公司 第二届监事会第十三次会议决议公告 本公司监事会、全体监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、监事会会议召开情况 三一重能股份有限公司（以下简称"公司"或"三一重能"）第二届监事会 第十三次会议于 2025 年 3 月 12 日在公司会议室以通讯方式召开。根据《三一重 能股份有限公司章程》（以下简称"《公司章程》"）的规定，本次会议通知于 2025 年 3 月 7 日以邮件方式发送。本次会议应出席监事 3 人，实际出席监事 3 人，会 议由监事会主席丁大伟先生召集和主持，会议召开符合有关法律、法规、规章和 《公司章程》的规定，会议决议合法有效。 二、监事会会议审议情况 （一）审议《关于公司<2025 年员工持股计划（草案）>及其摘要的议案》 监事会认为：公司《2025 年员工持股计划（草案）》及其摘要的内容符合《关 于上市公司实施员工持股计划试点的指导意见》《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》等有关法律、法 ...

独立董事一致同意该议案，并同意将该议案提交董事会审议。 表决结果：3 票同意，0 票反对，0 票弃权。 1 三一重能股份有限公司 第二届董事会独立董事专门会议第九次会议决议 三一重能股份有限公司（以下简称"公司"）第二届董事会独立董事专门会 议第九次会议于 2025 年 3 月 12 日以通讯会议方式召开，本次会议通知于 2025 年 3 月 8 日以邮件方式发送。本次会议应出席独立董事人数为 3 名，实际出席独 立董事人数为 3 名，独立董事邓中华先生主持本次会议，本次会议的召集、召开 及表决程序符合《中华人民共和国公司法》（以下简称"《公司法》"）等法律、 行政法规、部门规章、规范性文件和《三一重能股份有限公司章程》（以下简称 "《公司章程》"）、《三一重能股份有限公司独立董事工作制度》等相关规定。 经与会独立董事认真审议，形成决议并发表审核意见如下： 一、审议通过《关于公司<2025 年员工持股计划（草案）>及其摘要的议案》 独立董事认为：经认真审阅《关于公司<2025 年员工持股计划（草案）>及 其摘要的议案》，公司不存在《关于上市公司实施员工持股计划试点的指导意见》 《上海证券交易所科创板上市公司自 ...

证券代码：688349 证券简称：三一重能 公告编号：2025-015 三一重能股份有限公司 第二届董事会第十五次会议决议公告 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 三一重能股份有限公司（以下简称"公司"或"三一重能"）第二届董事会 第十五次会议于 2025 年 3 月 12 日在公司会议室以现场结合通讯会议的方式召 开。根据《三一重能股份有限公司章程》（以下简称"《公司章程》"）的规定，本 次会议通知于 2025 年 3 月 7 日以邮件方式发送。本次会议应出席董事 9 人，实 际出席董事 9 人，会议由董事长周福贵先生主持，本次会议的召集、召开和表决 情况符合《中华人民共和国公司法》（以下简称"《公司法》"）及有关法律、法规 的规定。 二、董事会会议审议情况 全体董事审议并以记名投票表决方式通过下列议案： （一）审议通过《关于公司<2025 年员工持股计划（草案）>及其摘要的议 案》 董事会认为：为进一步完善公司法人治理结构，促进公司建立、健全激励约 束机制，充分调动公司董事、监事、高 ...

Investment Rating - The report maintains an "Outperform" rating for the wind power industry [1] Core Views - The wind power sector is experiencing significant growth, with land-based wind power tenders increasing substantially since the beginning of the year. The offshore wind project by Three Gorges Group has commenced full construction [1][4] - 2025 is expected to be a record year for tenders, with over 25GW of projects approved and awaiting bidding. The average annual installation of offshore wind power during the 14th Five-Year Plan is projected to exceed 20GW, significantly surpassing the previous plan [4] - The industry is anticipated to see a historical high in installed capacity for land-based wind power, exceeding 90GW in 2025, with stable main engine prices and a rebound in profitability driven by technological cost reductions [4] Summary by Sections Industry News - The report highlights the significant increase in land-based wind power tenders and the commencement of major offshore projects [1][4] Market Performance - Recent performance in the wind power sector has shown a divergence, with the top-performing segments being castings (+11.4%), blades (+10.4%), and bearings (+5.6%). Notable individual stock performances include Guangda Special Materials (+14.8%) and Times New Material (+14.8%) [3] Investment Recommendations - The report suggests focusing on four key areas: 1) Leading companies in tower/pile production with high export potential 2) Leading submarine cable companies with expected recovery and opening export markets 3) Leading complete machine manufacturers with domestic profitability bottoming out and accelerating exports 4) Component manufacturers with opportunities for simultaneous volume and profit growth in 2025 - Recommended companies include Goldwind Technology, Oriental Cable, Times New Material, Hewei Electric, Sany Renewable Energy, Daikin Heavy Industries, Sun Moon Shares, Zhongji United, and Jinlei Shares [5] Tender and Installation Data - As of 2025, the cumulative public tender capacity for wind turbines in China has reached 24.3GW (+151%), with land-based wind turbine tender capacity at 23.7GW (+145%). The average winning bid price for land-based wind turbines (excluding towers) in 2025 is 1,499 CNY/kW [11] - In 2024, the total public tender capacity for wind turbines was 107.4GW (+61%), with land-based capacity at 99.1GW (+70%) and offshore capacity at 8.4GW (-3%) [11] Company Announcements - The report notes the full construction of the 800MW offshore wind project by Three Gorges Group and the commencement of a 500kW wind power project in Xinjiang by Sany Renewable Energy [10]

Investment Rating - The investment rating for the company is "Outperform the Market" [5][15][3] Core Views - The company reported a revenue of 18.09 billion yuan for 2024, representing a year-on-year growth of 21%. However, the net profit attributable to shareholders decreased by 7% to 1.86 billion yuan, primarily due to a decline in wind turbine prices and impairment provisions [1][8] - The company has made significant progress in expanding its overseas business, with new wind turbine installation capacity reaching 9.15 GW in 2024, a 23% increase year-on-year, and a domestic market share of approximately 10.5% [2][11] - The company is actively enhancing its overseas production capacity, including a joint development agreement for a wind equipment manufacturing base in Kazakhstan and expansion of its factory in India [12][14] Summary by Sections Financial Performance - In 2024, the company achieved a revenue of 18.09 billion yuan, with a net profit of 1.86 billion yuan, and a net profit margin of 10.3%, down 3.2 percentage points year-on-year [1][8] - The fourth quarter of 2024 saw a revenue of 9.02 billion yuan, a 21% increase year-on-year, and a net profit of 1.17 billion yuan, up 20% year-on-year [1][8] Market Position - The company has a cumulative wind turbine installation capacity exceeding 31.5 GW, with a domestic market share of about 5.6% as of the end of 2024 [2][11] - The company signed contracts for a total of 1,624 MW of wind turbine sales in India, indicating strong growth in overseas orders [12][14] Profitability Forecast - The profit forecast for 2025 and 2026 has been revised down to 2.33 billion yuan and 2.82 billion yuan, respectively, reflecting a year-on-year growth of 25% and 21% [3][15] - The current stock price corresponds to a price-to-earnings ratio (PE) of 14.7 for 2025 and 12.2 for 2026 [3][15]

Investment Rating - The investment rating for the company is "Outperform the Market" [5][15][3] Core Views - The company reported a revenue of 18.09 billion yuan for 2024, representing a year-on-year growth of 21%. However, the net profit attributable to shareholders decreased by 7% to 1.86 billion yuan, primarily due to a decline in wind turbine prices and impairment provisions [1][8] - The company has seen a steady increase in wind turbine sales, with a new installation capacity of 9.15 GW in 2024, up 23% year-on-year, capturing approximately 10.5% of the domestic market share [2][11] - The company is actively expanding its overseas market presence, signing contracts for a total of 1,624 MW of wind turbine sales in India, which is expected to significantly boost its overseas order volume [2][12] - The company has also made progress in establishing overseas production capacity, including a wind equipment manufacturing base in Kazakhstan and expansion of its factory in India [2][14] Summary by Sections Financial Performance - In 2024, the company achieved a revenue of 18.09 billion yuan, a 21% increase year-on-year, while the net profit attributable to shareholders was 1.86 billion yuan, down 7% [1][8] - The fourth quarter of 2024 saw a revenue of 9.02 billion yuan, a 21% increase year-on-year and a 138% increase quarter-on-quarter [1][8] - The net profit margin for 2024 was 10.3%, a decrease of 3.2 percentage points year-on-year [1][8] Market Position and Growth - The company’s cumulative wind turbine installation capacity exceeded 31.5 GW by the end of 2024, with a domestic market share of approximately 5.6% [2][11] - The company is focusing on enhancing its wind farm resource development, with over 2 GW of self-built wind farms currently under construction [11][12] Future Outlook - The profit forecast for 2025 and 2026 has been revised down to 2.33 billion yuan and 2.82 billion yuan, respectively, reflecting a year-on-year growth of 25% and 21% [3][15] - The current stock price corresponds to a price-to-earnings ratio (PE) of 14.7 for 2025 and 12.2 for 2026 [3][15]

Investment Rating - The report maintains a "Recommended" rating for the electrical equipment industry [3][22]. Core Insights - In January 2025, the central enterprises' wind power project bidding totaled 6.24GW, indicating an increase in market concentration among leading companies [4][10]. - The total approved wind power projects in January 2025 reached 11.3GW, with 85 projects, including 81 onshore and 2 offshore projects [4][10]. - The average bidding price for onshore wind projects (including towers) was 2199 RMB/kW, while the average price excluding towers was 1598 RMB/kW [4][10]. Summary by Sections Industry Performance Review - The photovoltaic index decreased by 0.59% from February 10 to 14, 2025, while the CSI 300 index increased by 1.19%, indicating underperformance of the photovoltaic sector [9]. - The wind power index fell by 1.65% during the same period, with only a few stocks showing positive growth [9]. Industry Updates - The bidding scale for central enterprise wind power projects in January 2025 saw a year-on-year decline of 70.4%, attributed to the large-scale project releases in 2024 and ongoing project planning and approval processes [5][11]. - Despite the decline in bidding scale, there are emerging characteristics in market concentration, regional distribution, and pricing trends, highlighting the competitive edge of comprehensive wind turbine manufacturers [5][11]. Key Companies - Notable companies in the sector include Dongfang Cable, Dajin Heavy Industry, Jinlei Co., Sunshine Power, and CITIC Bo [5].