Investment Rating - The report initiates coverage with a "Buy" rating for the company [3][9]. Core Insights - The company is the sole domestic supplier of special carbon black for high-voltage cables, with its first phase of the "100,000 tons/year high-voltage cable shielding material using nano carbon materials project" entering trial production by the end of June 2024 [1]. - The technical assessment of the new product "conductive carbon black for 110kV and 220kV cable semi-conductive shielding materials" by a committee of industry experts confirmed that its performance meets international advanced standards, breaking foreign technology monopolies [1]. - The company is also advancing its second phase project focused on high-voltage submarine cable shielding materials, aiming for domestic industrialization [2]. Financial Summary - The projected revenues for 2025, 2026, and 2027 are estimated at 30.95 billion, 37.04 billion, and 47.84 billion CNY respectively, with net profits of 3.75 billion, 4.18 billion, and 5.69 billion CNY [3]. - The company’s revenue growth rates are expected to be 36.59% in 2025, 19.68% in 2026, and 29.15% in 2027 [4]. - The earnings per share are projected to increase from 1.85 CNY in 2025 to 2.81 CNY in 2027, with a corresponding decrease in the price-to-earnings ratio from 13.10 to 8.64 [4]. Market Position and Trends - The company is positioned to benefit from the increasing demand for high-dispersion silica in green tires, which can reduce rolling resistance by approximately 30% and improve fuel efficiency by 5-7% [2][46]. - The global market for precipitated silica is projected to grow from approximately 4.5 billion USD in 2024 to 6.5 billion USD by 2028, with China’s demand growth rate expected to exceed the global average [39][41].

Core Viewpoint - The legal opinion letter from Beijing DHH Law Firm confirms that Shandong LianKe Technology Co., Ltd. is authorized to issue shares through a simplified procedure to specific investors, complying with relevant laws and regulations [4][24]. Group 1: Issuance Approval and Authorization - The board of directors and shareholders of Shandong LianKe Technology have approved the issuance of shares through a simplified procedure for the year 2025 [6][8]. - The board is authorized to handle all matters related to the issuance, including adjustments to the issuance plan as required by laws and regulations [8][9]. Group 2: Issuer's Qualifications - Shandong LianKe Technology is a legally established joint-stock company, having undergone necessary procedures for its establishment and registration [12][25]. - The company has been approved for its initial public offering and is listed on the Shenzhen Stock Exchange, with a total of 182 million shares, including 45.5 million new shares to be issued [13][12]. Group 3: Conditions for Issuance - The issuance is categorized as a legal act for listed companies in China to issue shares through a simplified procedure to specific investors [14]. - The issuance complies with the requirements of the Company Law, Securities Law, and relevant regulatory guidelines [24][17]. Group 4: Use of Proceeds - The funds raised from this issuance will primarily be used for the "Annual Production of 100,000 Tons of High-Pressure Cable Shielding Material Project (Phase II)" [18]. Group 5: Independence of the Issuer - The issuer has independent assets, business operations, personnel, and financial systems, ensuring its operational independence from its controlling shareholders [26][27].

中泰证券股份有限公司 关于 山东联科科技股份有限公司 2025 年度以简易程序向特定对象发行股票 之 上市保荐书 保荐机构（主承销商） （山东省济南市市中区经七路 86 号） 二〇二五年七月 山东联科科技股份有限公司 上市保荐书 保荐机构及保荐代表人声明 中泰证券股份有限公司（以下简称"中泰证券"、"保荐机构"或"本保荐 机构"）接受山东联科科技股份有限公司（以下简称"联科科技" "公司"或 "发行人"）的委托，担任本次联科科技以简易程序向特定对象发行股票的保荐 机构，并指定孙宝庆、张建梅担任本次保荐工作的保荐代表人。 中泰证券及其指定保荐代表人根据《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》《证券发行上市保荐业务管理 办法》等有关法律、法规和中国证监会、深圳证券交易所的有关规定，诚实守信， 勤勉尽责，严格按照依法制订的业务规则、行业执业规范和道德准则出具本上市 保荐书，并保证所出具文件的真实性、准确性和完整性。若因保荐机构为发行人 本次发行制作、出具的文件有虚假记载、误导性陈述或者重大遗漏，给投资者造 成损失的，保荐机构将依法赔偿投资者损失。 本上市保荐书中如无特别说明 ...

山东联科科技股份有限公司 （潍坊市青州市鲁星路577号） 2025 年度 以简易程序向特定对象发行股票 募集说明书 （申报稿） 保荐机构 2、本募集说明书按照《上市公司证券发行注册管理办法》《公开发行证券 的公司信息披露内容与格式准则第 61 号——上市公司向特定对象发行证券募集 说明书和发行情况报告书》等要求编制。 3、本次向特定对象发行股票完成后，公司经营与收益的变化由公司自行负 责；因本次向特定对象发行股票引致的投资风险，由投资者自行负责。 4、本募集说明书是公司董事会对本次向特定对象发行股票的说明，任何与 之相反的声明均属不实陈述。 5、投资者如有任何疑问，应咨询自己的股票经纪人、律师、专业会计师或 其他专业顾问。 6、本募集说明书所述事项并不代表审批机构对于本次向特定对象发行股票 相关事项的实质性判断、确认、批准，本募集说明书所述向特定对象发行股票相 关事项的生效和完成尚待取得有关审批机构的批准、核准或注册。 1-1-1 二〇二五年七月 声 明 1、公司及董事会全体成员保证本募集说明书内容真实、准确、完整，并确 认不存在虚假记载、误导性陈述或重大遗漏。 重要提示 本部分所述词语或简称与本募集说明书" ...

证券代码：001207 证券简称：联科科技 公告编号：2025-059 公司本次以简易程序向特定对象发行股票事项尚需通过深交所审核，并获得中国证 券监督管理委员会（以下简称"中国证监会"）同意注册的批复后方可实施。最终能否 通过深交所审核，并获得中国证监会同意注册的批复及其时间尚存在不确定性。公司将 根据该事项的进展情况及时履行信息披露义务，敬请广大投资者注意投资风险。 特此公告。 山东联科科技股份有限公司 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、误导性陈述或重大遗漏。 山东联科科技份有限公司（以下简称"公司"）于2025年7月21日收到深圳证券交 易所（以下简称"深交所"）出具的《关于受理山东联科科技股份有限公司向特定对象 发行股票申请文件的通知》（深证上审〔2025〕141号），深交所对公司报送的以简易 程序向特定对象发行股票的申请文件进行了核对，认为申请文件齐备，决定予以受理。 董事会 2025年7月22日 1 ...

中泰证券股份有限公司 关于 山东联科科技股份有限公司 2025 年度 以简易程序向特定对象发行股票 之 发行保荐书 保荐机构（主承销商） （山东省济南市市中区经七路 86 号） 二〇二五年七月 中泰证券股份有限公司（以下简称"中泰证券" "保荐机构"或"本保荐 机构"）接受山东联科科技股份有限公司（以下简称"公司" "发行人"或"联 科科技"）的委托，担任其以简易程序向特定对象发行股票的保荐机构，并指定 孙宝庆、张建梅担任本次保荐工作的保荐代表人，特此向深圳证券交易所（以下 简称"深交所"）出具本项目发行保荐书。 中泰证券及其保荐代表人根据《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》"）、《上市 公司证券发行注册管理办法》（以下简称"《发行注册管理办法》"）、《发行 证券的公司信息披露内容与格式准则第 27 号——发行保荐书和发行保荐工作报 告》《证券发行上市保荐业务管理办法》等有关法律、法规和中国证监会、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 ...

北京德和衡律师事务所 关于山东联科科技股份有限公司 2025 年度以简易程序向特定对象发行股票的 法律意见书 德和衡证律意见（2025）第 154 号 BEIJING DHH LAW FIRM 4-1-1 北京德和衡律师事务所 B E I J I N G D H H L AW F I R M 释 义 在本法律意见书中，除非根据上下文另作解释，否则下列简称和术语具有以下含义： | 简称 | | 全称 | | --- | --- | --- | | 发行人、公司、联科科技 | 指 | 山东联科科技股份有限公司 | | 联科有限 | 指 | 山东联科功能材料有限公司，曾用名：山东联科白炭黑有限公司， | | | | 系发行人前身 | | 联科贸易 | 指 | 山东联科贸易有限公司，系发行人全资子公司 | | 联科化学 | 指 | 山东联科化学有限公司，系发行人全资子公司 | | 联科新材料 | 指 | 山东联科新材料有限公司，曾用名：山东联科炭黑有限公司、山 东联科新材料股份有限公司，曾为新三板挂牌公司，已于 2017 | | | 年 | 11 月 26 日终止挂牌，系发行人控股子公司 | | 联科化工 | 指 | ...

山东联科科技股份有限公司 审计报告及财务报表 2024 年度 尤振审字[2025]第 0694 号 6-1-1 . t and the 山东联科科技股份有限公司 审计报告及财务报表 (2024 年 1 月 1 日至 2024 年 12 月 31 日止) | | 目录 | 页次 | | --- | --- | --- | | 审计报告 | | 1-4 | | 财务报表 | | | | 合并资产负债表 | | 1-2 | | 合并利润表 | | 3 | | 合并现金流量表 | | র্ব | | 合并股东权益变动表 | | 5-6 | | 母公司资产负债表 | | 7-8 | | 母公司利润表 | | 9 | | 母公司现金流量表 | | 10 | | 母公司股东权益变动表 | | 11-12 | | 财务报表附注 | | 1-80 | 6-1-2 审计 报告 尤振审字[2025]第0694号 山东联科科技股份有限公司全体股东: 一、审计意见 我们审计了山东联科科技股份有限公司(以下简称联科科技公司)财务报表,包括 2024 年 12月 31 日的合并及母公司资产负债表,2024年度的合并及母公司利润表、合并及母 ...

Core Viewpoint - The company held its eighth meeting of the third board of directors on July 17, 2025, where various financial reports and audits were discussed and approved, confirming the accuracy and compliance of the company's financial statements and internal controls for the year 2024 [1][2][3][4] Group 1: Financial Audits - The company engaged Unitaizhenqing Accounting Firm to re-audit its 2024 financial statements, which were found to fairly reflect the company's financial status as of December 31, 2024 [2] - The audit results were consistent with the original audit report, receiving unanimous approval from the board [2] - The company also had its internal control evaluation report re-audited, confirming the establishment of a robust internal control system that is effectively executed [3] Group 2: Fund Usage Verification - The company commissioned Unitaizhenqing Accounting Firm to verify the usage of previously raised funds, with the verification results aligning with the original report [3][4] - Additionally, a report on non-recurring gains and losses over the past three years was also verified, with results consistent with prior reports [4]

Summary of Key Points Core Viewpoint - The report details the fundraising activities and the usage of raised funds by Shandong LianKe Technology Co., Ltd., highlighting the amounts raised, their allocation, and the current status of these funds as of March 31, 2025 [1][2]. Fundraising Overview - The total net amount raised from the initial public offering (IPO) was RMB 596,312,839.61 after deducting issuance costs of RMB 52,972,160.39 [2]. - The company was also approved to raise RMB 265,472,460.69 through a simplified procedure for a specific audience, with all funds received by June 27, 2023 [2]. Fund Usage and Balance - The net amount from the IPO was allocated as follows: - Pre-investment project replacement: RMB 160,118,544.89 - Post-investment project replacement: RMB 169,401,612.76 - Bank loan repayment: RMB 120,000,000.00 - Working capital: RMB 124,972,046.07 - Total interest income: RMB 14,990,416.15 - Remaining balance as of March 31, 2025: RMB 36,811,052.04 [2][3]. - For the funds raised through the simplified procedure, the allocations were: - Pre-investment project replacement: RMB 42,882,174.99 - Post-investment project replacement: RMB 205,344,603.35 - Total interest income: RMB 6,662,477.79 - Remaining balance as of March 31, 2025: RMB 23,908,160.14 [2][3]. Fund Management - The company has established a fundraising management system to ensure compliance with relevant laws and regulations, including the storage of funds in dedicated bank accounts under a tripartite supervision agreement [4][5]. Investment Project Status - There were no changes or transfers in the investment projects funded by the raised capital [6]. - The actual investment amounts for various projects differed from the committed amounts, with reasons provided for discrepancies, such as ongoing construction or market conditions affecting project timelines [8][9]. Project Benefits and Performance - The report includes a table detailing the benefits realized from the investment projects, with some projects unable to be individually assessed for profitability due to their nature [9][10]. - The "10,000 tons/year high-dispersed silica project" and the "10,000 tons/year high-pressure cable shielding material project" are highlighted, with the latter expected to generate significant profits once fully operational [10][11]. Idle Funds - The company has not utilized idle funds for purposes other than those specified in the fundraising commitments [11].