国浩律师（上海）事务所 股东大会法律意见书 国浩律师（上海）事务所 关于山子高科技股份有限公司 2024 年年度股东大会的法律意见书 本所律师已经按照有关法律、法规及规范性文件的规定对公司本次股东大会召 集、召开程序是否合法以及是否符合 公司章程》规定、出席会议人员的资格、召 集人资格的合法有效性和股东大会表决程序、表决结果的合法有效性发表法律意见。 本法律意见书中不存在虚假、严重误导性陈述及重大遗漏，否则愿意承担相应的法 律责任。 本所律师是根据对事实的了解和对法律的理解发表法律意见。 本法律意见书依据国家有关法律、法规及规范性文件的规定而出具。 本所律师同意将本法律意见书作为公司 2024 年年度股东大会的必备文件公告， 并依法对本所出具的法律意见承担责任。 本所律师已经对与出具本法律意见书有关的所有文件材料进行审查判断，并据 此出具法律意见如下： 一、本次股东大会的召集、召开程序 1 致：山子高科技股份有限公司： 山子高科技股份有限公司 （以下简称"公司"）2024 年年度股东大会 （以下称"本 次股东大会"）于 2025 年 6 月 30 日召开，国浩律师（上海）事务所（以下简称"本 所"）接受公司的 ...

山子高科技股份有限公司 关于公司2024年年度股东大会的决议公告 本公司董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导 性陈述或者重大遗漏。 股票简称：山子高科 股票代码：000981 公告编号：2025-046 1、现场会议召开时间：2025年6月30日（星期一）下午14:30 2、网络投票时间为：2025年6月30日 特别提示： 其中，通过深圳证券交易所交易系统进行网络投票的具体时间为2025年6月30 日上午9:15-9:25、9:30-11:30和下午13:00-15:00；通过深圳证券交易所互联网投票 的具体时间为：2025年6月30日上午9:15至下午15:00期间的任意时间。 3、召开地点：上海市浦东新区新金桥路36号上海国际财富中心会议室。 4、召开方式：现场投票及网络投票相结合的方式。 5、召集人：公司董事会。 1、本次股东大会议案均获审议通过。 2、本次股东大会不涉及变更前次股东大会决议的情况。 一、会议召开情况 公司 2025 年 6 月 9 日召开第九届董事会第九次临时会议，经全体董事同意， 审议通过《关于提请召开 2024 年年度股东大会的议案》。公司董事会已于 ...

Investment Rating - The industry is rated as "Overweight" [6] Core Views - Multiple automakers have committed to shortening payment terms to within 60 days, which is expected to improve the automotive supply chain ecosystem [1] - The shortening of payment terms is anticipated to alleviate concerns regarding automakers' repayment capabilities and promote healthy industry development [1] - The average cash turnover rates for components, complete vehicles, and dealers in 2024 are projected to be 4.5, 2.2, and 8.9 respectively, with the new payment terms expected to enhance cash flow [1] - The reduction in payment terms aligns with international standards, potentially benefiting Chinese brands in overseas markets [2] - Price competition has paused, leading to a narrowing of discount rates, which is favorable for healthy competition within the industry [2] Summary by Sections Section 1: Impact of Shortened Payment Terms - The adjustment to a 60-day payment term is expected to have limited impact on the cash flow of complete vehicle manufacturers, as many currently operate with payment terms exceeding 110 days [2] - The new terms are expected to enhance the cash turnover ability and cash levels of upstream component manufacturers, with an estimated increase in cash funds of approximately 32 billion yuan (+37%) if accounts receivable turnover improves to 6 [3] Section 2: Export Growth of Domestic Passenger Vehicles - Domestic brands are leading in competitiveness within the market, driving foreign brands out [4] - In 2024, market shares for domestic brands in various price segments are projected to be 80%, 48%, and 42% respectively, with year-on-year increases of 7, 14, and 4 percentage points [4] - In May, domestic brand exports reached 375,000 units, a year-on-year increase of 18% and a month-on-month increase of 10% [4] - The global market is viewed as a significant growth opportunity for Chinese automakers, with a recommendation to focus on industry leaders with global competitiveness [4]

Group 1 - On June 10, 2025, a block trade occurred for Shanzi Gaoke (000981), where an institutional special seat sold 820,400 shares for a total amount of 1.8787 million yuan at a price of 2.29 yuan per share, which was in line with the closing price of the day [1] - This trade accounted for 0.10% of Shanzi Gaoke's total trading volume of 1.808 billion yuan on that day, with the buyer being China International Capital Corporation Wealth Securities Co., Ltd. Fuzhou Wusi Road Securities Business Department [1] - This was the second block trade by institutional accounts for Shanzi Gaoke in recent times, with the first occurring on June 3, where 530,000 shares were sold at 2.13 yuan per share for a total of 1.1289 million yuan [1] Group 2 - As of the end of May 2025, Shanzi Gaoke announced the repurchase of 460,000 shares at a cost of 1.01 million yuan, with repurchase prices ranging from 2.19 to 2.24 yuan per share [2] - On June 9, 2025, the company held a temporary board meeting to review the proposal for the 2024 annual general meeting of shareholders [2] - On May 17, 2025, Shanzi Gaoke announced the sale of 80% equity in its subsidiary Yunfeng Automobile for 24.6 million yuan, which the company described as an important measure to optimize its main business structure [2] Group 3 - Shanzi Gaoke's main business includes automotive parts, property management, and complete vehicle manufacturing, with the automotive parts segment contributing over 60% of its revenue [2] - In the first quarter of 2025, the company reported operating revenue of 1.051 billion yuan and a net profit attributable to shareholders of 82.83 million yuan [2]

关于召开2024年年度股东大会的通知 证券代码：000981 证券简称：山子高科 公告编号：2025-045 山子高科技股份有限公司 通过深圳证券交易所互联网投票系统投票的具体时间为2025年6月30日 9:15—15:00期间的任意时间。 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或者重大遗漏。 （二）股东大会的召集人：公司董事会 （三）会议召开的合法合规性说明：公司第九届董事会第九次临时会议审议通 过了《关于提请召开2024年年度股东大会的议案》，本次股东大会的召开符合有关 法律、行政法规、部门规章、规范性文件、深交所业务规则和《公司章程》等的规 定。 （四）会议召开的日期和时间 （五）会议召开方式：本次股东大会采用现场表决与网络投票相结合的方式。 公司将通过深圳证券交易所系统和互联网投票系统（http://wltp.cninfo.com.cn）向公 司股东提供网络形式的投票平台，股东可以在网络投票的时间内通过上述系统行使 表决权。同一表决权只能选择现场投票和网络投票其中的一种方式。网络投票包含 深圳证券交易所系统和互联网系统两种投票方式，同一表决权只能选择其中一 ...

证券代码：000981 证券简称：山子高科 公告编号：2025-044 经与会董事认真审议，会议以投票表决的方式表决审议通过如下议案： （一）审议通过《关于提请召开 2024 年年度股东大会的议案》 表决结果：9 票同意，0 票反对，0 票弃权。 山子高科技股份有限公司 关于第九届董事会第九次临时会议的决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或者重大遗漏。 一、会议召开情况 2025 年 6 月 9 日，山子高科技股份有限公司（以下简称"公司"）第九届董事会 第九次临时会议在公司会议室以通讯方式召开。关于本次会议的通知已于 2025 年 6 月 4 日以传真、电子邮件、专人送达的方式送达各位董事。本次会议应参加董事 9 人，实际参加董事 9 名。会议由公司董事长叶骥先生主持，公司监事及高级管理人 员列席会议。本次会议的召开符合《公司法》和《公司章程》的规定。 二、董事会会议审议情况 二〇二五年六月十日 具体内容详见同日披露于巨潮资讯网（http://www.cninfo.com.cn）的《关于召开 2024 年年度股东大会的通知》。 特此公告。 山子高科技 ...

股票简称：山子高科 股票代码：000981 公告编号：2025-043 公司回购股份的时间、回购股份价格及集中竞价交易的委托时段符合《深圳证券交易 所上市公司自律监管指引第 9 号——回购股份》第十七条、十八条的相关规定。 山子高科技股份有限公司 关于股份回购的进展公告 本公司董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 2024 年 7 月 25 日，山子高科股份有限公司（以下简称"公司"）召开第八届董事会第 二十三次临时会议，审议通过《关于回购公司股份方案的议案》，公司拟以 6 亿元-10 亿 元回购公司股份，回购股份的价格为不超过 1.60 元/股（含）。本次回购股份的实施期限 为自董事会审议通过本次回购股份方案之日起不超过 6 个月。具体内容详见公司于 2024 年 8 月 2 日在指定媒体披露的《回购股份报告书》（2024-050）。 公司于 2024 年 12 月 31 日召开第九届董事会第二次临时会议审议通过《关于调整回购 股份价格上限的议案》，具体调整包括：将回购股份的价格上限由不超过人民币 1.60 元/ 股调整为不超过人民币 3.35 元/股，除 ...

关于持股 5%以上非第一大股东部分股份因执行司法裁定 完成过户暨股份变动比例超过 1%的公告 本公司董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误导 性陈述或者重大遗漏。 股票简称：山子高科 股票代码：000981 公告编号：2025-042 山子高科技股份有限公司 | 信息披露义务人 | 西藏银亿投资管理有限公司、宁波圣洲投资有限公司 | | --- | --- | | | 1、西藏银亿投资管理有限公司 | | | 住所：拉萨经济技术开发区大连路以西、格桑路以北总部经济 | | 住所 | 基地 B 栋 1 单元 10 楼 1001 号 | | | 2、宁波圣洲投资有限公司 | | | 住所：江北区慈城镇慈湖人家 339 号 203 室 | 1．基本情况 1 | 权益变动时间 2025 5 | | 年 月 | 29 | 日 | | | | --- | --- | --- | --- | --- | --- | --- | | 股票简 | 山子高科 | | | 股票代码 | 000981 | | | 称 | | | | | | | | 变动类 | | | | | | | | 型（可多 减少√ | ...

Core Viewpoint - The company, Shanzi High-Tech Co., Ltd. (山子高科), is undergoing a strategic shift by selling 80% of its subsidiary, Yunfeng Automobile Co., Ltd. (云枫汽车), for 24.6 million yuan to focus on enhancing its core business and improving operational efficiency [2][5]. Group 1: Company Overview - Shanzi High-Tech, formerly known as Yinyi Co., Ltd., has transitioned from a real estate focus to a concentration on vehicle manufacturing, including both traditional and new energy vehicles [3]. - The company has established a comprehensive manufacturing ecosystem that includes high-end components, vehicle manufacturing, and semiconductor materials [6]. Group 2: Financial Performance - In 2024, Yunfeng Automobile generated revenue of 513 million yuan, contributing 10.20% to Shanzi High-Tech's total revenue, but reported a net loss of 75.71 million yuan [4]. - For the first quarter of 2025, Yunfeng's revenue was 127 million yuan, continuing to incur a net loss of 30.80 million yuan [4]. - Shanzi High-Tech's overall revenue for 2024 was 4.97 billion yuan, with a net profit loss of 1.73 billion yuan, marking a 6.85% decline in revenue year-on-year [7]. Group 3: Strategic Decisions - The decision to sell Yunfeng Automobile is aimed at reallocating resources to enhance the development of new vehicle models, thereby improving the company's competitive edge [5]. - Despite the strategic rationale, there was dissent from a board member regarding the potential legal risks and the alignment of this sale with the company's previous plans [5]. Group 4: Market Position and Future Outlook - The automotive industry in China has shown growth, with production and sales reaching 31.28 million and 31.43 million units respectively in 2024, reflecting a year-on-year increase of 3.7% and 4.5% [6]. - Shanzi High-Tech's vehicle production in 2024 included 8,970 passenger vehicles, with significant exports to countries along the Belt and Road Initiative [7]. - The company is also focusing on high-end manufacturing, with its subsidiary, Belgium's Bongi, making strides in the global market for automotive transmissions [8].

Group 1 - The reducer concept sector declined by 3.18%, ranking among the top declines in concept sectors, with companies like Jingjin Electric, Dongfeng Technology, and Guangyang Co. experiencing significant drops [1][2] - Among the reducer concept stocks, three companies saw price increases, with Inner Mongolia First Machinery Group rising by 1.96%, Bohai Automobile by 1.32%, and Yingboer by 0.70% [1][2] Group 2 - The reducer concept sector experienced a net outflow of 3.019 billion yuan, with 85 stocks seeing net outflows, and 8 stocks exceeding 100 million yuan in outflows [2][5] - The stock with the highest net outflow was Shanzi Gaoke, with a net outflow of 421 million yuan, followed by Wuzhou Xinchun, Shanghai Electric, and Zhongding Co. with net outflows of 163 million yuan, 134 million yuan, and 129 million yuan respectively [2][5] - The top net inflow stocks in the reducer concept included Yingboer, Inner Mongolia First Machinery Group, and Bohai Automobile, with net inflows of 20.31 million yuan, 16.07 million yuan, and 15.51 million yuan respectively [5]