国浩律师（长沙）事务所 关于 湘潭电化科技股份有限公司 向不特定对象发行可转换公司债券 之 法律意见书 长沙市湘江中路保利国际广场 B3 栋 17 楼 邮编：410000 17/F, Building B3, Poly International Plaza, Middle Xiangjiang Road, Changsha 410000, China 电话/Tel: +86 731 8868 1999 传真/Fax: +86 731 8868 1999 网址/Website: http://www.grandall.com.cn 2023 年 11 月 | | 录 | | --- | --- | | 目 | | | 释 义 | 2 | | --- | --- | | 第一节 引言 | 6 | | 第二节 正文 | 8 | | 一、本次发行的批准和授权 8 | | | 二、发行人本次发行的主体资格 9 | | | 三、本次发行的实质条件 10 | | | 四、发行人的设立 16 | | | 五、发行人的独立性 17 | | | 六、发行人的主要股东、控股股东及实际控制人 19 | | | 七、发行人的股本及其 ...

湘潭电化科技股份有限公司 向不特定对象发行可转换公司债券 信用评级报告 编号：CCXI-20233725D-04 湘潭电化科技股份有限公司 向不特定对象发行可转换公司债券信用评级报告 声 明 跟踪评级安排 中诚信国际信用评级有限责任公司 2024 年 12 月 2 日 2 本次评级为委托评级，中诚信国际及其评估人员与评级委托方、评级对象不存在任何其他影响本次评级行为独立、 客观、公正的关联关系。 本次评级依据评级对象提供或已经正式对外公布的信息，以及其他根据监管规定收集的信息，中诚信国际按照相关 性、及时性、可靠性的原则对评级信息进行审慎分析，但中诚信国际对于相关信息的合法性、真实性、完整性、准 确性不作任何保证。 中诚信国际及项目人员履行了尽职调查和诚信义务，有充分理由保证本次评级遵循了真实、客观、公正的原则。 评级报告的评级结论是中诚信国际依据合理的内部信用评级标准和方法、评级程序做出的独立判断，未受评级委托 方、评级对象和其他第三方的干预和影响。 本评级报告对评级对象信用状况的任何表述和判断仅作为相关决策参考之用，并不意味着中诚信国际实质性建议任 何使用人据此报告采取投资、借贷等交易行为，也不能作为任何 ...

Investment Rating - The report does not explicitly state an investment rating for the company Core Viewpoints - The company, Xiangtan Electric Chemical, is facing challenges due to competition from BYD in the lithium battery market for two-wheeled vehicles, which may impact its future growth prospects in manganese-based lithium materials [1][5][9] - The manganese-based cathode material market is characterized by a small scale and slow development, with the company potentially achieving a market share of 43.48% if it fully utilizes its production capacity by 2026 [7][8] - The company is heavily reliant on the electric manganese dioxide (EMD) segment, which contributes significantly to its revenue and has a higher profit margin compared to manganese lithium [9][10][12] Summary by Sections Industry Overview - Manganese has traditionally been used in the steel industry, but its application in lithium batteries is gaining attention due to the rapid growth of the power battery sector [3][4] - Manganese lithium batteries are expected to see increased demand in electric two-wheelers and low-speed electric vehicles, with a clear application scenario [4][5] Company Financials - The company plans to raise 487 million yuan through convertible bonds to fund a project for producing 30,000 tons of spinel manganese lithium battery materials [6][7] - The company's revenue for 2024 is projected to be 1.9 billion yuan, with EMD accounting for 67% and manganese lithium for 25% of the total revenue [9][12] - The gross margin for EMD is significantly higher at 37%, while manganese lithium has struggled with margins below 1% in recent years [9][10][19] Competitive Landscape - The manganese-based cathode material market is small, with few competitors, and the company is positioned as a potential leader despite the overall weak competitive environment [8][9][13] - The company faces challenges from the rising popularity of lithium iron phosphate (LFP) batteries, which may diminish the advantages of manganese lithium [25][26][30] Market Dynamics - The domestic market for electric two-wheelers is experiencing a decline, with sales expected to drop by 11.6% in 2024 compared to 2023 [33] - Despite the challenges, the demand for manganese lithium is projected to grow, with expected shipments of 115,000 tons in 2024, reflecting a 27.92% increase year-on-year [22][34] Investment and Returns - The company has a history of raising funds through multiple rounds of financing, totaling 1.72 billion yuan, but has provided only 354 million yuan in dividends to shareholders since its IPO [48][50]

小舢板从池塘驶入大江大河，结局会如何？ | 作者 | | 闲彦 | | --- | --- | --- | | 编辑 | | 小白 | 5月17日，比亚迪（002594.SZ）发布了面向两轮车、三轮车的磷酸铁锂电池。 "迪王"搓了搓想发财的小手，携全产业链优势来推动电动两轮车市场的锂电化了。 是福，是祸？ 自然要看对谁说。这种体量的公司打个喷嚏，你不知道的某个领域，全行业都得感冒。 行业小霸主，是喜是忧？ 过去，锰最大的用途是作为不锈钢的材料，防止生锈或腐蚀，大致95%以上的锰用于钢铁冶金行业。 但因为动力电池行业的迅猛发展，锰在锂电池的跨界应用受到关注。 锰酸锂具有资源丰富、材料成本较低、电压平台高、安全性更优、倍率性能及低温性能好等优势，在 电动两轮车、3C数码、电动工具、A00级新能源汽车等领域具备较为清晰的应用场景。 其中，锰酸锂电池在数码电子消费产品领域的应用已经趋于成熟，在电动两轮车及低速电动车领域的 应用有望带来增量需求。同时锰酸锂材料与三元等其他材料的混用也是降本和改善安全性的重要技术 路线之一。 所以简单来说，电动两轮车是锰酸锂材料未来能否实现持续增长的核心。 4月30日，湘潭电化（0021 ...

Group 1: Business Performance and Strategy - The company’s lithium manganese oxide (LMO) business continues to thrive despite industry-wide profitability pressures, attributed to advantages such as self-sufficient precursor supply and over 60 years of experience in battery materials production [1] - In 2024, the company experienced a decline in both revenue and net profit, primarily due to falling prices of raw materials like lithium carbonate, which negatively impacted LMO revenue despite increased sales volume [3] Group 2: Research and Development Focus - R&D investments are concentrated on high-performance electrolytic manganese dioxide products, enhancing the performance of manganese lithium and its precursors, and environmentally friendly treatment of manganese slag [2] - Future R&D priorities include further applications of manganese materials in the new energy sector [2] Group 3: Raw Material Procurement and Cost Management - The company has implemented a strategic supplier and diversified backup system to mitigate the impact of raw material price fluctuations [1] - Measures include establishing a price warning mechanism for bulk materials and employing hedging strategies to manage risks associated with price volatility [1] Group 4: Environmental and Safety Investments - The company is committed to upgrading environmental protection facilities and investing in technologies for harmless treatment and resource utilization of manganese slag [2] - Safety investments include building a comprehensive mining safety system and equipping safety detection and emergency rescue equipment [2] Group 5: Market Position and Future Outlook - The company is actively seeking to optimize its resource allocation for manganese-based precursor materials, focusing on cost competitiveness and resource advantages [2] - The management emphasizes the importance of maintaining stable cash dividends while enhancing communication with institutional investors and minority shareholders to support market value management [3]

Core Viewpoint - The company has announced its 2024 annual profit distribution plan, which includes a cash dividend of 1.60 RMB per share, totaling approximately 100.72 million RMB, approved by the shareholders' meeting on May 13, 2025 [1][2]. Group 1: Profit Distribution Plan - The profit distribution plan involves a cash dividend of 1.60 RMB per 10 shares, with a total cash distribution of 100,717,074.08 RMB (including tax) [1]. - The distribution will not include stock dividends or capital reserve transfers to increase share capital [1]. - If the total share capital changes before the distribution, the distribution ratio will be adjusted while keeping the total distribution amount unchanged [1]. Group 2: Dividend Taxation - For investors holding shares through the Hong Kong market, the cash dividend will be 1.44 RMB per 10 shares after tax [1]. - Different tax rates will apply for individual shareholders based on their holding period, with specific calculations for tax obligations upon stock transfer [1]. - The company will not withhold individual income tax at the time of distribution, but will calculate tax based on the holding period when shares are sold [1]. Group 3: Key Dates - The record date for the dividend distribution is set for May 27, 2025, and the ex-dividend date is May 28, 2025 [1][2]. Group 4: Distribution Method - The cash dividends will be distributed by China Securities Depository and Clearing Corporation Limited, Shenzhen Branch, to all shareholders registered by the record date [2].

本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 湘潭电化科技股份有限公司（以下简称"公司"）已于2025年4月23日在巨 潮资讯网上披露了《2024年年度报告》。为便于广大投资者更加全面深入地了 解公司经营情况及未来发展战略，公司定于2025年5月23日举办2024年度网上业 绩说明会，具体情况如下： 证券代码：002125 证券简称：湘潭电化 公告编号：2025-027 湘潭电化科技股份有限公司 关于举办2024年度业绩说明会的公告 三、投资者问题征集及方式 为充分尊重投资者、提升公司与投资者之间的交流效率，现就公司2024年 度网上业绩说明会提前向投资者公开征集问题，广泛征求投资者的意见和建议。 投资者可于2025年5月23日15:00前按上述参会方式进入线上交流平台，点击" 互动交流"进行会前提问。公司将在本次业绩说明会上，就投资者普遍关注的 问题进行回答。 一、业绩说明会的安排 1、会议召开时间：2025年5月23日（星期五）15:00-17:00 2、会议召开方式：网络互动方式 3、会议召开地点：价值在线（www.ir-online.cn） 4、出席 ...

证券代码：002125 证券简称：湘潭电化 公告编号：2025-026 湘潭电化科技股份有限公司 2024 年年度权益分派实施公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 湘潭电化科技股份有限公司（以下简称"公司"或"本公司"）2024 年年 度权益分派方案已获 2025 年 5 月 13 日召开的 2024 年度股东大会审议通过，现 将权益分派事宜公告如下： 2、自分配方案披露至实施期间，公司股本总额未发生变化。 3、本次实施的分配方案与股东大会审议通过的分配方案一致。 一、股东大会审议通过利润分配方案的情况 1、公司 2024 年度股东大会审议通过的 2024 年度利润分配方案为：以公司 2024 年 12 月 31 日的总股本 629,481,713 股为基数，向全体股东每 10 股派发现 金红利 1.60 元（含税），合计派发现金红利 100,717,074.08 元（含税），不送 红股，不进行资本公积金转增股本。若在分配方案实施前公司总股本发生变化， 公司将按照分配总额不变的原则对分配比例进行调整。 4、本次实施分配方案距离股东大会审议通过的 ...

Meeting Overview - The shareholders' meeting was held on May 13, 2025, at the headquarters of Xiangtan Electric Technology Co., Ltd. [2] - The meeting combined on-site voting and online voting, with the board of directors as the convener [4] - The meeting was presided over by Chairman Liu Ganjiang [4] Attendance - A total of 261 shareholders and their representatives attended the meeting, representing 210,487,262 shares, which is 33.4382% of the total voting shares [5] - Among them, 259 were small investors, representing 5,673,865 shares, or 0.9014% of the total voting shares [5] - Five shareholders attended the meeting in person, representing 204,918,197 shares, or 32.5535% of the total voting shares [6] - 256 shareholders participated in online voting, representing 5,569,065 shares, or 0.8847% of the total voting shares [7] Resolutions Passed - The following resolutions were approved during the meeting: 1. The 2024 Board of Directors Work Report was approved with 210,110,514 votes in favor, accounting for 99.8210% of the valid votes [9][10] 2. The 2024 Supervisory Board Work Report was approved with 210,112,914 votes in favor, accounting for 99.8222% of the valid votes [10] 3. The 2024 Annual Report and Summary were approved with 210,113,914 votes in favor, accounting for 99.8226% of the valid votes [11] 4. The 2024 Financial Settlement Report was approved with 210,112,114 votes in favor, accounting for 99.8218% of the valid votes [12] 5. The 2024 Profit Distribution Plan was approved with 210,109,714 votes in favor, accounting for 99.8206% of the valid votes [13] 6. The expected external guarantee limit for 2025 was approved with 210,091,114 votes in favor, accounting for 99.8118% of the valid votes [14] 7. The proposal to waive business opportunities and related transactions was approved with 5,255,617 votes in favor, accounting for 92.6285% of the valid votes [15] Legal Opinion - The legal opinion was provided by Guohao Law Firm (Changsha), confirming that the meeting's procedures, qualifications of attendees, voting procedures, and results were in compliance with relevant laws and regulations [16]

国浩律师（长沙）事务所 关于 湘潭电化科技股份有限公司 2024 年度股东大会 之 法律意见书 长沙市湘江中路保利国际广场 B3 栋 17 楼 邮编：410000 17/F, Building B3, Poly International Plaza, Middle Xiangjiang Road, Changsha 410000, China 电话/Tel: +86 731 8868 1999 传真/Fax: +86 731 8868 1999 网址/Website: http://www.grandall.com.cn 2025 年 5 月 国浩律师（长沙）事务所 法律意见书 国浩律师（长沙）事务所 关于湘潭电化科技股份有限公司 2024 年度股东大会之 法律意见书 致：湘潭电化科技股份有限公司 国浩律师（长沙）事务所（以下简称"本所"）接受湘潭电化科技股份有限公 司（以下简称"公司"）的委托，指派本所律师出席并见证了公司 2024 年度股东 大会，并根据《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》"）、《上市公司股东大会规则》（以 下简称"《股东大 ...