上海市锦天城律师事务所 关于中邮科技股份有限公司 2025 年第一次临时股东会的 法律意见书 地址：上海市浦东新区银城中路 501 号上海中心大厦 9/11/12 层 电话：021-20511000 传真：021-20511999 邮编：200120 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于中邮科技股份有限公司 2025 年第一次临时股东会的 法律意见书 致：中邮科技股份有限公司 上海市锦天城律师事务所（以下简称"本所"）接受中邮科技股份有限公司 （以下简称"公司"）的委托，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》"）等法律、法规、规范性文件和《中 邮科技股份有限公司章程》（以下简称"《公司章程》"）的有关规定，指派律 师参加公司 2025 年第一次临时股东会（以下简称"本次股东会"），对本次股 东会相关事项进行见证，并依法出具本法律意见书。 本法律意见书仅就本次股东会的召集和召开程序、出席本次股东会人员的资 格、召集人资格、表决程序及表决结果发表意见，而不对本次股东会所 ...

证券代码：688648 证券简称：中邮科技 公告编号：2025-046 中邮科技股份有限公司 2025年第一次临时股东会决议公告 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）股东会召开的时间：2025 年 11 月 13 日 （二）股东会召开的地点：上海市普陀区中山北路 3185 号 （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 | 66 | | --- | --- | | 普通股股东人数 | 66 | | 2、出席会议的股东所持有的表决权数量 | 84,029,836 | | 普通股股东所持有表决权数量 | 84,029,836 | | 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例（%） | 61.7866 | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） | 61.7866 | （四）表决方式是否符合《公司法》及公司章程的规定，大会 ...

Core Viewpoint - On November 13, three listed companies will have their restricted shares unlocked, with a total market value of approximately 210 million yuan [1] Group 1: Company Specifics - Sifang Co., Ltd. (Stock Code: 601126) will unlock 5.7162 million shares under equity incentive restrictions [1] - Tianyoude Liquor (Stock Code: 002646) will unlock 2.832 million shares under equity incentive restrictions [1] - China Post Technology (Stock Code: 688648) will unlock 3.4 million shares without specified restrictions [1]

Core Viewpoint - On November 13, a total of 8 companies had their restricted shares unlocked, with a total unlocking volume of 218 million shares, amounting to a market value of 2.162 billion yuan based on the latest closing price [1] Group 1: Unlocking Volume - Three companies had unlocking shares exceeding 10 million: Beibu Gulf Port with 156 million shares, Shanghai Port Group with 32.14 million shares, and Antong Holdings with 17.6 million shares [1] Group 2: Unlocking Market Value - Three companies had unlocking market values exceeding 100 million yuan: Beibu Gulf Port with 1.39 billion yuan, Shanghai Port Group with 183 million yuan, and China Postal Technology with 183 million yuan [1] Group 3: Unlocking Ratio - The companies with the highest unlocking ratio relative to total share capital were Beibu Gulf Port at 6.58%, China Postal Technology at 2.5%, and Sifang Holding at 0.67% [1]

Core Points - Company received a notification from Guohua Satellite regarding a change in shareholder equity that touched the 1% threshold as of November 10, 2025 [1] - Guohua Satellite reduced its shareholding by 349,257 shares through centralized bidding, decreasing its total shares held in the company from 12,410,006 shares to 12,060,749 shares [1] - The shareholding percentage of Guohua Satellite and Aerospace Investment Holdings in the company decreased from 9.13% to 8.87% [1]

Core Viewpoint - Zhongyou Technology (688648.SH) announced a reduction in shareholding by Guohua Satellite Application Industry Fund, indicating a significant change in shareholder equity [1] Summary by Relevant Sections - **Shareholding Changes** - As of November 10, 2025, Guohua Satellite reduced its holdings by 349,257 shares through centralized bidding, decreasing the total shares held by Guohua Satellite and Aerospace Investment Holdings from 12,410,006 shares to 12,060,749 shares [1] - The proportion of total share capital held by these entities decreased from 9.13% to 8.87%, marking a change that touches the 1% threshold [1]

证券代码：688648 证券简称：中邮科技 公告编号：2025-045 中邮科技股份有限公司 关于持股 5%以上股东权益变动触及 1%刻度的提示性公告 投资者及其一致行动人国华卫星应用产业基金（南京）合伙企业（有限合伙）、航 天投资控股有限公司保证向本公司提供的信息真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 本公司董事会及全体董事保证公告内容与信息披露义务人提供的信息一致。 一、信息披露义务人及其一致行动人的基本信息 3.一致行动人信息 重要内容提示： 权益变动方向 比例增加□ 比例减少☑ 权益变动前合计比例 9.13% 权益变动后合计比例 8.87% 本次变动是否违反已作出的承诺、意向、计划 是□ 否☑ 是否触发强制要约收购义务 是□ 否☑ | 一致行动人名称 | | 投资者身份 | 统一社会信用代码 | | --- | --- | --- | --- | | | □ | 控股股东/实控人 | ☑91110108797554210H | | 航天投资控股有限公司 | □ | 控股股东/实控人的一致 | | | | 行动人 | | □不适用 | | | ☑ | 其他直接持股股东 | | 二、权益 ...

Core Viewpoint - China Post Technology (688648.SH) announced a change in shareholder equity due to a reduction in shareholding by Guohua Satellite Application Industry Fund, indicating a significant shift in ownership structure [1] Summary by Relevant Sections - **Shareholder Equity Change** - As of November 10, 2025, Guohua Satellite reduced its holdings by 349,257 shares through centralized bidding, leading to a combined shareholding with Aerospace Investment Holdings decreasing from 12,410,006 shares to 12,060,749 shares [1] - The total shareholding percentage dropped from 9.13% to 8.87%, marking a change that touches the 1% threshold [1]

Core Viewpoint - China Post Technology announced a reduction in shareholding by Guohua Satellite Application Industry Fund (Nanjing) Partnership, which decreased its stake from 9.13% to 8.87% as of November 10, 2025 [1] Group 1 - The reduction involved a total of 349,257 shares being sold through centralized bidding [1] - The shareholding change is in compliance with a previously disclosed reduction plan and does not violate any commitments [1] - The reduction does not trigger a mandatory tender offer and will not lead to changes in the company's controlling shareholder or actual controller [1]

Core Conclusions - The market is expected to refocus on investment opportunities in smart vehicles in Q4, driven by the ongoing AI trend and the advancement of L4 capabilities in autonomous vehicles like Robotaxi [2][3] - Key catalysts for smart vehicle development in Q4 include Tesla's V14 release, XPeng's 2026 Robotaxi production plan, and the introduction of new autonomous vehicles by various companies [2] - The report anticipates a significant acceleration in the entry of core players into the L4 market by 2026, marking a pivotal year for Robotaxi [2] Comparison with Last Year - Similarities with last year's Q4 include the spread of AI applications, but this year emphasizes the evolution of AI logic rather than a resonance with automotive logic [3] - The focus has shifted from hardware opportunities and consumer sales to software opportunities and breakthroughs in B2B applications [3] Investment Recommendations - The report suggests a preference for Hong Kong stocks over A-shares, with a focus on software over hardware and B2B over B2C [6] - Recommended investment combinations include XPeng Motors, Horizon Robotics, and Cao Cao Mobility [6] - Key targets from the perspective of Robotaxi include integrated models (Tesla, XPeng, Qianli Technology) and technology providers (Horizon Robotics, Baidu, Pony.ai) [6] Smart Vehicle Market Overview - The report highlights the improvement in autonomous driving capabilities among various automakers, with XPeng, Huawei, and Li Auto leading the first tier [7] - The penetration rate of smart driving in urban areas reached 23.0% in August, with XPeng's smart driving penetration hitting 76.1% [7] - The report notes a significant increase in the sales of smart vehicles, with a projected growth in the Robotaxi market from 0-30% penetration by 2030 [15] Future Outlook - The core task for automotive intelligence from 2025 to 2027 is to achieve a penetration rate of 50%-80% for new energy vehicles [15] - By 2028-2030, Robotaxi is expected to achieve large-scale commercialization, marking a significant breakthrough in the automotive industry [15] Smart Vehicle Supply Chain Tracking - The report provides a detailed analysis of the smart vehicle supply chain, including hardware components (sensors, chips) and software solutions [10] - Key companies in the hardware segment include Sunny Optical, Nvidia, and Desay SV [10] - In the software segment, notable companies include WeRide, Momenta, and Pony.ai [10] Consumer Willingness to Pay - The report discusses consumer willingness to pay for smart features, indicating a growing acceptance of smart driving technologies [13] - The analysis includes projections for the domestic market size of Robotaxi, estimating significant growth in sales and market penetration [14]