国浩律师(上海)事务所 法律意见书 国浩律师(上海) 事务所 关于江西国科军工集团股份有限公司 2024年年度股东大会的法律意见书 致:江西国科军工集团股份有限公司 国浩律师(上海)事务所(以下简称"本所")作为江西国科军工集团股份 有限公司(以下简称"公司"或"国科军工")之特聘法律顾问,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》"）、《上市公司股东会规则》(以下简称"《股东会规则》"、 《江西国科军工集团股份有限公司章程》〈以下简称"《公司章程》"等法律法 规及规范性文件的规定,指派律师出席并见证了公司于2025年4月16日下午14点 00分在江西省南昌市南昌经济技术开发区建业大街999号二楼会议室召开的2024 年年度股东大会(以下简称"本次股东大会"),并对本次股东大会的召集、召 开程序、出席人员资格、会议表决程序等事宜进行了审查。 为出具本法律意见书,本所律师出席了本次股东大会,审查了公司提供的有 关本次大会各项议程及相关文件,听取了公司董事会就有关事项所作的说明。 在审查有关文件的过程中,公司向本所律师保证并承诺,其向本所提供的文 件 ...

证券代码：688543 证券简称：国科军工 公告编号：2025-021 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。 江西国科军工集团股份有限公司 2024年年度股东大会决议公告 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 4 月 16 日 （二） 股东大会召开的地点：江西省南昌市南昌经济技术开发区建业大街 999 号二楼会议室 （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 | 112 | | --- | --- | | 普通股股东人数 | 112 | | 2、出席会议的股东所持有的表决权数量 | 102,115,417 | | 普通股股东所持有表决权数量 | 102,115,417 | | 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 | 58.6752 | | 例（%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） | 58.675 ...

Summary of Key Points Core Viewpoint - The article reports on the recent block trading activities of Guokai Military Industry, highlighting significant trading volumes and price movements, indicating potential investor interest and market dynamics [1]. Trading Activity - On April 10, Guokai Military Industry recorded 4 block trades with a total volume of 205,000 shares and a total transaction value of 10.291 million yuan [1]. - The transaction price was 50.20 yuan, reflecting an 8.29% discount compared to the closing price of the day [1]. - Over the past three months, the stock has seen a total of 39 block trades, amounting to 155 million yuan [1]. Market Performance - The closing price of Guokai Military Industry on the reporting day was 54.74 yuan, marking a 1.41% increase, with a turnover rate of 11.50% and a total trading volume of 599 million yuan [1]. - The net inflow of main funds for the day was 47.1385 million yuan, with a cumulative increase of 9.41% over the past five days and a total net inflow of 47.4785 million yuan [1]. Margin Trading Data - The latest margin trading balance for Guokai Military Industry is 256 million yuan, showing a decrease of 1.2065 million yuan over the past five days, which is a decline of 0.47% [1].

江西国科军工集团股份有限公司 2024 年年度股东大会会议资料 江西国科军工集团股份有限公司 2024 年年度股东大会 会议资料 股票简称：国科军工 股票代码：688543 2025 年 4 月 | 目 | 录 | | | | | --- | --- | --- | --- | --- | | 2024 | 年年度股东大会会议须知 1 | | | | | 2024 | 年年度股东大会会议议程 4 | | | | | 2024 | 年度董事会工作报告的议案》 6 | 议案一《关于 | | | | 2024 | 年度监事会工作报告的议案》 11 | 议案二《关于 | | | | 2024 | 2025 | 年度财务预算报告的议案》 16 | 议案三《关于 | 年度财务决算报告及 | | 2024 | 年年度报告及摘要的议案》 21 | 议案四《关于 | | | | 2024 | 年度利润分配的预案的议案》 22 | 议案五《关于公司 | | | | 2025 | 年度董事薪酬方案的议案》 23 | 议案六《关于公司 | | | | 2025 | 年银行授信额度授权的议案》 25 | 议案七《关于公司 | | | ...

Core Viewpoint - The technology innovation sector, particularly the STAR Market, is experiencing a strong rebound driven by multiple positive signals, including significant policy support and increased capital inflow [1][2]. Group 1: Market Performance - The STAR Market Index ETF, Huatai-PineBridge (589080), saw a sharp rebound, rising nearly 3% and at one point exceeding 4%, with a trading volume surpassing 31 million yuan, indicating a significant increase in trading activity compared to the previous day [1]. - Major component stocks of the STAR Market ETF experienced substantial gains, with Tongyi rising over 18%, and other companies like Xindong Lian Ke and Guokai Military Industry increasing by over 14% [1]. Group 2: Policy and Institutional Support - Recent policies, including stock buybacks and increased investments from state-owned enterprises, are creating a synergistic effect that is expected to enhance the attractiveness of A-share core assets [1][2]. - Guoxin Investment Co. plans to increase its holdings in central enterprise stocks and technology innovation stocks through stock buybacks and special re-loans, with an initial amount of 80 billion yuan [1]. Group 3: Market Outlook - According to China International Capital Corporation (CICC), the risk of further declines in the A-share market is limited, supported by historical trends where state-owned enterprises tend to increase stock holdings during liquidity risk phases [2]. - Guoxin Securities emphasizes that technological self-reliance and autonomy are crucial for overcoming challenges posed by trade conflicts, particularly for the domestic electronics industry [2].

智通财经4月9日电，北方长龙、爱乐达双双20CM涨停，炼石航空、铖昌科技涨停，中船防务、晨曦航 空、新余国科、中海海防、国科军工等跟涨。 军工股震荡拉升 北方长龙、爱乐达双双20CM涨停 ...

Core Insights - The company reported a revenue of 1.204 billion yuan in 2024, representing a year-on-year growth of 15.78% [1][2] - The net profit attributable to the parent company, excluding non-recurring gains and losses, was 182 million yuan, up 30.55% year-on-year, with a basic earnings per share of 1.14 yuan [1][2] - The company plans to distribute a cash dividend of 9 yuan per 10 shares to all shareholders [1] Financial Performance - The company achieved a net profit of 207 million yuan in 2024, a significant increase of 40.55% year-on-year, indicating enhanced profitability [2] - The company has experienced continuous growth in revenue and profit for six consecutive years, with revenues increasing from 308 million yuan in 2019 to 1.204 billion yuan in 2024 [2] - Research and development (R&D) investment reached 91.17 million yuan, a 25.95% increase, supporting advancements in core technologies [2] Profitability Metrics - The asset-liability ratio decreased to 27.26% in 2024 from 29.77% in 2023, reflecting a solid financial safety margin [3] - The gross profit margin improved from 32.35% to 34.42%, while the net profit margin rose from 14.13% to 17.15%, indicating further enhancement in profitability [3] - The company distributed a total cash dividend of 157 million yuan, accounting for 78.82% of the net profit attributable to shareholders [3] Industry Outlook - The military industry is poised for significant growth driven by national defense modernization and technological advancements, with the government emphasizing the importance of a strong military [4] - The company is well-positioned to benefit from the increasing demand for defense equipment and the integration of military and civilian sectors [4] - The company has developed a range of products, including solid rocket engine modules and various types of ammunition, leveraging its technological expertise [4][6] Market Position - The company operates in two core business segments: solid rocket engine power and control products, and ammunition equipment, holding a prominent position in the military products market [5] - The company has a long-standing technical advantage in ammunition production, with successful bids for medium-caliber ammunition marking a new phase of business expansion [6] - The company is one of the few domestic enterprises engaged in the research and production of solid rocket engine power modules, contributing significantly to its revenue growth [6][7] Strategic Initiatives - The company is increasing R&D investments in response to rising performance requirements for missile weaponry, achieving breakthroughs in key technologies [7] - Strengthening strategic partnerships with core clients and actively participating in military equipment project bids has led to a substantial increase in product delivery volumes [7] - The military industry is entering a golden period of high-quality development, with the company expected to leverage its technological barriers and first-mover advantages for further growth [7]

| 序号 | 工作内容 | 持续督导情况 | | --- | --- | --- | | 1 | 建立健全并有效执行持续督导工作制度，并针对 具体的持续督导工作制定相应的工作计划。 | 保荐机构已建立健全并有效执行 | | | | 了持续督导工作制度，并制定了 | | | | 相应的工作计划 | | 2 | 根据中国证监会相关规定，在持续督导工作开始 | 保荐机构已与国科军工签订《持 | | | 前，与上市公司或相关当事人签署持续督导协 | 续督导协议》，该协议明确了双方 | | | 议，明确双方在持续督导期间的权利义务，并报 | 在持续督导期间的权利和义务， | | | 上海证券交易所备案。 | 并报上海证券交易所备案 | | 3 | 持续督导期间，按照有关规定对上市公司违法违 | 2024 年度国科军工在持续督导期 | | | 规事项公开发表声明的，应当向上海证券交易所 | 间未发生按有关规定须保荐机构 | | | 报告并经上海证券交易所审核后予以披露。 | 公开发表声明的违法违规情况 | | 4 | 持续督导期间，上市公司或相关当事人出现违法 | 2024 年度国科军工在持续督导期 间未发生违法违规或违 ...

Core Insights - The company reported a revenue of 1.204 billion yuan for 2024, representing a year-on-year growth of 15.78%, and a net profit attributable to shareholders of 199 million yuan, up 41.25% year-on-year [1] - The company continues to focus on research and development, with R&D investment increasing by 25.95% in 2024, leading to multiple patents that support product upgrades and new business expansion [2] - The company has adjusted its revenue forecasts for 2025 to 2027, expecting net profits of 245 million, 297 million, and 360 million yuan respectively, with year-on-year growth rates of 23.1%, 21.4%, and 21.2% [3] Revenue and Profit Growth - The company achieved a revenue of 1.204 billion yuan in 2024, marking a 15.78% increase compared to the previous year [1] - The net profit attributable to shareholders reached 199 million yuan, reflecting a significant year-on-year growth of 41.25% [1] Business Operations and R&D Focus - The ammunition equipment segment remains a traditional strength, with improvements in production efficiency and cost reduction through lean management and strict quality control [1] - The solid engine power module segment for missiles (rockets) saw a substantial increase in product delivery due to advanced technology and high-quality products [1] - R&D investment for 2024 was 25.95% higher than the previous year, supporting technological innovation and attracting new customers [2] Future Profit Projections - The company has revised its profit forecasts for 2025 to 2027, with expected net profits of 245 million, 297 million, and 360 million yuan, indicating strong growth potential [3] - Corresponding price-to-earnings ratios for these years are projected to be 36.00, 29.65, and 24.47 times [3]

Investment Rating - The report maintains a "Recommended" rating for the company, indicating a positive outlook based on its competitive advantages and growth potential in the ammunition and solid engine sectors [3][6]. Core Insights - The company achieved a revenue of 1.2 billion yuan in 2024, representing a year-over-year growth of 15.8%, with a net profit of 199 million yuan, up 41.3% year-over-year [1]. - The growth in 2024 was supported by strong business development capabilities and market demand, with a notable increase in the gross margin to 34.4% and net margin to 17.1% [1][2]. - The company is focusing on R&D, increasing its R&D expenses by 26% to 90 million yuan, which is expected to drive long-term growth and business expansion [3]. Summary by Sections Financial Performance - In Q4 2024, the company reported a revenue of 440 million yuan, a year-over-year increase of 21.6%, and a net profit of 49 million yuan, up 2.9% year-over-year [1]. - The total accounts receivable increased by 141% to 600 million yuan, leading to a credit impairment loss of 24.24 million yuan [1]. Product Segmentation - The ammunition business grew steadily, with revenue from special products reaching 1.17 billion yuan, a 17.3% increase year-over-year, while the civil products segment remains small at 29 million yuan [2]. - The solid engine power module segment saw significant growth, with revenue increasing by 71.5% to 380 million yuan, and profit soaring by 90% to 112 million yuan [2]. R&D and Future Outlook - The company has 95 ongoing R&D projects, up from 83 the previous year, indicating a strong commitment to innovation [3]. - Future profit projections estimate net profits of 272 million yuan, 348 million yuan, and 425 million yuan for 2025, 2026, and 2027, respectively, with corresponding PE ratios of 33x, 26x, and 21x [3][5].