北京市通商律师事务所 12-15th Floor, China World Office 2, No. 1 Jianguomenwai Avenue, Beijing 100004, China 电话 Tel: +86 10 6563 7181 传真 Fax: +86 10 6569 3838 电邮 Email: beijing@tongshang.com 网址 Web: www.tongshang.com 北京市通商律师事务所 关于宁夏东方钽业股份有限公司 2025 年度向特定对象发行股票的 补充法律意见书（一） （二次修订稿） 二〇二六年一月 中国北京建国门外大街 1 号国贸写字楼 2 座 12-15 层 100004 关于宁夏东方钽业股份有限公司 2025 年度向特定对象发行股票的补充法律意见书（一）（修订稿） 致：宁夏东方钽业股份有限公司 本所接受东方钽业的委托，担任其本次发行的专项法律顾问。本所根据《公 司法》《证券法》《注册管理办法》《实施细则》《公开发行证券公司信息披露的编 报规则第 12 号——公开发行证券的法律意见书和律师工作报告》《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 ...

招商证券股份有限公司 关于 宁夏东方钽业股份有限公司 2025 年向特定对象发行 A 股股票 之 发行保荐书 保荐机构（主承销商） （深圳市福田区福田街道福华一路 111 号） 二〇二六年一月 宁夏东方钽业股份有限公司 2025 年向特定对象发行 A 股股票申请文件 发行保荐书 声 明 招商证券股份有限公司（以下简称"招商证券""保荐人"或"保荐机构"） 接受宁夏东方钽业股份有限公司（以下简称"发行人""公司"或"东方钽业"） 的委托，担任发行人向特定对象发行股票（以下简称"本次发行"）的保荐机构。 本保荐机构及保荐代表人根据《中华人民共和国公司法》《中华人民共和国 证券法》《上市公司证券发行注册管理办法》（以下简称"《注册管理办法》"） 《证券发行上市保荐业务管理办法》等有关法律、行政法规和中国证券监督管理 委员会的规定，诚实守信，勤勉尽责，严格按照依法制订的业务规则、行业执业 规范和道德准则出具本发行保荐书，并保证所出具文件的真实性、准确性和完整 性。 本发行保荐书中所有简称和释义，如无特别说明，均与募集说明书报告一致。 3-1-1 | 项目名称 | 保荐工作 | 是否处于持续督导期间 | | --- | ...

招商证券股份有限公司 关于宁夏东方钽业股份有限公司 2025 年向特定对象发行 A 股股票 之 上市保荐书 保荐机构（主承销商） （深圳市福田区福田街道福华一路 111 号） 二〇二六年一月 宁夏东方钽业股份有限公司 2025 年向特定对象发行 A 股股票申请文件 上市保荐书 声 明 招商证券股份有限公司（以下简称"招商证券""保荐人"或"保荐机构"） 接受宁夏东方钽业股份有限公司（以下简称"发行人"、"公司"或"东方钽 业"）的委托，担任发行人向特定对象发行股票（以下简称"本次发行"）的保 荐机构。 本保荐机构及相关保荐代表人根据《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》"）《证 券发行上市保荐业务管理办法》《上市公司证券发行注册管理办法》《深圳证券 交易所股票上市规则》《深圳证券交易所上市公司证券发行上市审核规则》等法 律法规和中国证券监督管理委员会及深圳证券交易所的有关规定，诚实守信，勤 勉尽责，严格按照依法制定的业务规则和行业自律规范出具上市保荐书，并保证 所出具文件的真实性、准确性和完整性。 本上市保荐书中所有简称和释义，如无特别说明，均与募集 ...

1 关于宁夏东方钽业股份有限公司 申请向特定对象发行股票的审核问询函的回复 天职业字[2026]310 号 深圳证券交易所： 天职国际会计师事务所（特殊普通合伙）（以下简称"我们"或"申报会计 师"）审计了宁夏东方钽业股份有限公司（以下简称"东方钽业"或"公司"、 "发行人"）2023 年度及 2024 年度的财务报表，并于 2024 年 3 月 29 日出具了 编号为天职业字[2024]21669 号的无保留意见审计报告，于 2025 年 4 月 11 日出 具了编号为天职业字[2025]17753 号的无保留意见审计报告。 我们对 2023 年度和 2024 年度财务报表执行审计程序的目的，是对上述财务 报表是否在所有重大方面按照企业会计准则的规定编制，是否公允反映东方钽业 2023 年 12 月 31 日及 2024 年 12 月 31 日的合并及公司财务状况，以及 2023 年 度及 2024 年度的合并及公司经营成果和现金流量表发表审计意见，不是对上述 财务报表中的个别项目的金额或个别附注单独发表意见。 东方钽业 2022 年度财务报表已经大华会计师事务所（特殊普通合伙）审计 并出具无保留意见的审计 ...

证券代码：000962 证券简称：东方钽业 关于宁夏东方钽业股份有限公司申请 向特定对象发行股票的审核问询函的 回复报告（二次修订稿）（豁免版） 保荐人（主承销商） （深圳市福田区福田街道福华一路 111 号） 二〇二六年一月 宁夏东方钽业股份有限公司 审核问询函的回复 深圳证券交易所： 根据贵所于 2025 年 10 月 27 日出具的《关于宁夏东方钽业股份有限公司申 请向特定对象发行股票的审核问询函》（审核函〔2025〕120043 号），宁夏东 方钽业股份有限公司（以下简称"发行人" "公司""东方钽业"）与招商证券股份 有限公司（以下简称"招商证券""保荐人""保荐机构"）、北京市通商律师事 务所（以下简称"发行人律师"）、天职国际会计师事务所（特殊普通合伙） （以下简称"发行人会计师"）等相关方对审核问询函所列示问题进行了核查， 同时按照审核问询函的要求对募集说明书进行了补充和修订。现对问询函所列 示问题的落实情况和募集说明书的修改情况逐条书面回复，并提交贵所，请予 审核。 说明： 一、如无特别说明，本回复中的报告期指 2022 年度、2023 年度及 2024 年 度及 2025 年 1-9 月， ...

Group 1: Market Dynamics - As of January 12, 2026, there were 19 new private placement projects added in the last two weeks, a decrease of 5 projects compared to the previous period[7] - The number of projects terminated increased by 1 to 6, with 2 being competitive bidding projects[7] - The approval rate for projects was 100%, with 11 projects approved by the review committee, an increase of 1[19] Group 2: Fundraising and Valuation - The total fundraising amount for the 4 projects listed in the last two weeks was 2.825 billion yuan, a decrease of 61.23%[34] - The average price discount rate for competitive bidding projects was 22.76%, an increase of 10.20 percentage points[34] - The PE and PB ratios for Dongfang Tantalum were 71.14x and 6.92x, respectively, significantly higher than the industry average[22] Group 3: Performance Metrics - The absolute return rate for newly unlocked competitive bidding projects averaged 60.55%, with an excess return rate of 26.36%, both up over 36 percentage points[4] - The average industry beta during the "issuance-unlocking" period was 43.76%, an increase of 14.97 percentage points[4] - The average individual stock alpha during the same period was 35.66%, up 29.54 percentage points[4] Group 4: Risk Factors - Potential risks include slower-than-expected approval processes, fluctuations in secondary market stock prices, and changes in the competitive bidding market environment[4]

Core Viewpoint - The company, Dongfang Tantalum Industry (000962.SZ), is focusing on its core business of tantalum and niobium, with no current plans for further acquisitions of Xicai Institute shares [1] Group 1: Business Strategy - The company will continue to concentrate on its main business of tantalum and niobium [1] - The development philosophy includes full wet processing, optimizing tantalum powder, stabilizing tantalum wire, expanding fire refining, strengthening products, and enhancing the supply chain [1] - There are ongoing efforts to optimize industrial development layout and strengthen technological innovation and lean management [1] Group 2: Future Plans - Currently, there are no plans for further acquisitions, specifically regarding Xicai Institute shares [1]

Core Viewpoint - The company, Dongfang Tantalum Industry (000962.SZ), is focused on its core business of tantalum and niobium, with no current plans to acquire additional shares of Xicai Institute [1] Group 1: Business Strategy - The company will continue to concentrate on its main business of tantalum and niobium [1] - The development philosophy includes full wet processing, optimizing tantalum powder, stabilizing tantalum wire, expanding fire refining, strengthening products, and enhancing the supply chain [1] - There is an emphasis on optimizing industrial development layout and strengthening technological innovation and lean management [1] Group 2: Future Plans - Currently, there are no plans for further acquisitions, specifically regarding shares of Xicai Institute [1]

Core Viewpoint - The company, Dongfang Tantalum Industry, indicates that the domestic demand for high-value-added products such as high-temperature alloys, semiconductor tantalum targets, and high-purity niobium materials is gradually increasing due to the development of high-tech and new infrastructure industries in China [1] Group 1: High-Temperature Alloys - The company benefits from the growth in demand for high-temperature alloys driven by gas turbines and aerospace engines, leading to continuous capacity release [1] Group 2: Semiconductor Sector - In the semiconductor field, the company has achieved breakthroughs in the entire process technology and industrial integration for high-purity tantalum powder, high-purity tantalum ingots, and 12-inch tantalum target blanks, spurred by the development of AI and computing power chips [1]

Group 1: Company Overview and Activities - Ningxia Dongfang Tantalum Industry Co., Ltd. is involved in investor activities including site visits and conference calls [1][2][3]. - The company has received approval from the Shenzhen Stock Exchange for its stock issuance to specific investors, pending final approval from the China Securities Regulatory Commission [4]. Group 2: Market Expectations and Product Demand - There is a growing domestic demand for high-value products such as high-temperature alloys and semiconductor tantalum targets, driven by advancements in high-tech and new infrastructure sectors [5]. - The high-temperature alloy market has seen rapid growth due to increased demand from gas turbines, aerospace engines, and automotive turbochargers [5]. - The semiconductor sector is experiencing a surge in demand for tantalum targets and high-purity tantalum ingots, influenced by the explosive growth of AI and computing chips [5]. Group 3: Production and Pricing Strategy - The company's pricing strategy is based on a cost-plus model, considering raw material price fluctuations, customer demand, and market conditions [3]. - Production capacity is being gradually released as the company upgrades its production lines and optimizes operations [5]. - The company aims to enhance its industrial layout and strengthen technological innovation while focusing on its core tantalum and niobium business [6].