核查意见 华泰联合证券有限责任公司关于 宝武镁业科技股份有限公司与宝武集团财务有限责任公司 签署《金融服务协议》暨关联交易的核查意见 作为宝武镁业科技股份有限公司（以下简称"宝武镁业"或"公司"）向特定对 象发行股票持续督导阶段的保荐人，根据《证券发行上市保荐业务管理办法》《深 圳证券交易所股票上市规则》《深圳证券交易所上市公司自律监管指引第 13 号— —保荐业务》等有关规定，华泰联合证券有限责任公司（以下简称"华泰联合证 券"）对宝武镁业与宝武集团财务有限责任公司（以下简称"宝武财务公司"）签署 《金融服务协议》暨关联交易事项进行了核查，核查情况如下： 一、关联交易概述 宝武镁业拟与宝武财务公司签署《金融服务协议》，宝武财务公司提供的金 融服务包括结算服务、存款服务、信贷服务以及其他金融服务。 本次关联交易事项已经公司第七届董事会第六次会议审议通过，尚须提交公 司股东会审议批准，关联股东将在股东会上对该关联交易事项回避表决。 公司独立董事召开了独立董事专门会议，对本次关联交易事项发表了同意的 审议意见。 二、对关联交易的核查 （一）关联方情况 1、基本信息 企业名称：宝武集团财务有限责任公司 统一社会信用 ...

证券代码：002182 证券简称：宝武镁业 公告编号：2024-57 宝武镁业科技股份有限公司 关于应收款项合并报表范围内关联方组合 计提坏账准备的会计估计变更的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚 假记载、误导性陈述或者重大遗漏。 重要内容提示： ●根据《企业会计准则第 28 号—会计政策、会计估计变更和差错更正》的 相关规定，本次会计估计变更采用未来适用法，无需对已披露的财务报表进行 追溯调整，对以往各年度财务状况和经营成果不会产生影响。 ●本次会计估计变更事项已经公司第七届董事会第六次会议审议通过，无 须提交股东会审议批准。 一、会计估计变更情况概述 二、会计估计变更对公司的影响 （一）本次会计估计变更的原因及内容 为更加客观地反映公司及各子公司的财务状况和经营成果，公司拟变更应 收款项计提坏账准备的会计估计，对合并报表范围内关联方之间形成的应收款 项划分为合并报表范围内关联方组合，单独进行减值测试。如有客观证据表明 其发生了减值的，根据其未来现金流量现值低于其账面价值的差额，确认减值 损失，计提坏账准备。如经减值测试未发现减值的，则不计提坏账准备。 （二）本次变更前后采 ...

Shareholder and Financial Data - The number of shareholders decreased by 6,912 to 61,272, a 10.14% decline compared to the previous period [1] - Revenue for the first three quarters reached 6.347 billion yuan, a 14.09% year-on-year increase [2] - Net profit for the first three quarters was 154 million yuan, a 25.88% year-on-year decrease [2] - Basic earnings per share stood at 0.1550 yuan [2] - Weighted average return on equity was 2.88% [2] Financing and Stock Performance - The latest margin trading and securities lending balance was 822 million yuan, with a financing balance of 820 million yuan [2] - The financing balance increased by 26.0448 million yuan, a 3.28% rise since the last concentration of chips [2] - The latest stock price was 11.58 yuan, up 0.96% [2] - The stock price has fallen 12.47% since the last concentration of chips [2] - The stock experienced 4 increases and 6 decreases in the recent trading sessions [2]

Group 1: Company Overview - Baowu Magnesium Industry Co., Ltd. was established in 1993 and listed in 2007, focusing on mining, non-ferrous metallurgy, and recycling processing [1] - The company specializes in the production and deep processing of magnesium and aluminum alloy materials, with key products including magnesium alloys, magnesium alloy castings, aluminum alloys, and intermediate alloys [1] - The complete industrial chain includes raw magnesium smelting, magnesium alloy melting, and magnesium alloy recycling, optimizing cost structure and enhancing risk resistance [1] Group 2: Product Advantages - Semi-solid magnesium alloy products improve material strength, fatigue performance, and corrosion resistance while being environmentally friendly due to the absence of a smelting process [2] - Magnesium alloy lightweight electric drive assemblies reduce energy consumption and significantly enhance the range of electric vehicles, with advantages in mechanical performance and electromagnetic shielding [2] - The company is developing magnesium alloy materials for robot components such as covers, bases, and control arms [2] Group 3: Investor Relations - The company ensures compliance with information disclosure regulations, maintaining the authenticity, accuracy, completeness, and timeliness of information shared with investors [2] - No significant undisclosed information leaks occurred during the investor communication process, and a commitment letter was signed as required by the Shenzhen Stock Exchange [2]

Group 1: Industry Overview - China is a major producer of primary magnesium, accounting for 83% of global production [1] - Domestic primary magnesium production from January to September 2024 is approximately 702,900 tons, a year-on-year increase of about 17.8% [1] - Exports of various magnesium products from January to August 2024 reached 307,400 tons, reflecting a year-on-year growth of 13.73% [1] Group 2: Production Process and Technology - Magnesium content in magnesium alloys typically exceeds 90% [1] - The company utilizes the "Pijang Method" for magnesium production, which involves the thermal reduction of magnesium oxide using ferrosilicon, leading to increased efficiency and reduced production cycles [1][2] - The company is integrating intelligent steelmaking technologies into magnesium production to enhance automation [2] Group 3: Cost Structure - The production cost of primary magnesium is relatively low due to lower energy costs, with significant cost impacts from ferrosilicon and coal prices [2] - Producing one ton of primary magnesium requires one ton of ferrosilicon and three tons of coal, positioning the company at a leading level in the industry [2] Group 4: Manufacturing Capabilities - The company operates magnesium alloy die-casting factories in Nanjing, Chao Lake, Chongqing, Jingzhou, and Tianjin, providing comprehensive lightweight solutions [2] - It has over 200 die-casting units and nearly 1,000 processing centers, with capabilities for surface treatment and custom mold design [2]

Group 1: Market Insights - The company's magnesium production costs are primarily influenced by silicon iron and coal prices [1] - Recent declines in magnesium prices are expected to boost downstream applications, such as automotive components and magnesium-based hydrogen storage [1] Group 2: Business Performance - The company reports continued growth despite low magnesium prices, with normal production and operational conditions [2] - Sales revenue remains stable, indicating resilience in the current market environment [2] Group 3: Product Development - The magnesium alloy electric drive assembly developed in collaboration with Huichuan Power features advanced design, manufacturing technology, and material selection, enhancing energy efficiency and vehicle range [2] - The company is focusing on producing magnesium alloy automotive parts, such as steering wheel frames and seat brackets, to capitalize on the trend towards automotive lightweighting [2] Group 4: Strategic Initiatives - The company aims to expand its downstream processing capabilities while ensuring a stable supply of magnesium alloy base materials [2] - A long-term strategy includes integrated magnesium die-casting, collaborating with universities and automotive manufacturers from the design phase [2]

本所律师同意将本法律意见书随公司本次临时股东会决议一并公告，并依法 对本法律意见书承担相应的责任。 宝武镁业临时股东会 法律意见书 江苏世纪同仁律师事务所 关于宝武镁业科技股份有限公司 2024 年第五次临时股东会的法律意见书 致：宝武镁业科技股份有限公司 根据《中华人民共和国公司法（2023 修订）》《中华人民共和国证券法（2019 修订）》《上市公司股东大会规则（2022 修订）》和《深圳证券交易所上市公 司股东大会网络投票实施细则（2020 年修订）》等法律、法规和规范性文件以 及《宝武镁业科技股份有限公司章程》（以下简称"《公司章程》"）的规定， 本所受公司董事会的委托，指派本所律师出席公司 2024 年第五次临时股东会， 并就本次临时股东会的召集、召开程序、出席会议人员资格、召集人资格、表决 程序以及表决结果的合法有效性等事项出具法律意见。 为出具本法律意见书，本所律师对本次临时股东会所涉及的有关事项进行了 审查，查阅了相关会议文件，并对有关问题进行了必要的核查和验证。 本所律师根据相关法律、法规和规范性文件的要求，按照律师行业公认的业 务标准、道德规范和勤勉尽责精神，出具法律意见如下： 一、关于本 ...

证券代码：002182 证券简称：宝武镁业 公告编号：2024-52 宝武镁业科技股份有限公司 2024 年第五次临时股东会决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚假记载、 误导性陈述或者重大遗漏。 重要提示： ● 本次股东会召开期间无增加、否决或变更议案的情况； ● 本次股东会以现场表决与网络表决相结合的方式召开。 一、会议召开情况 1、会议召集人：宝武镁业科技股份有限公司董事会 2、会议主持人：董事长梅小明先生 3、会议召开方式及召开时间 （1）现场会议时间：2024年11月14日（星期四）下午14:00 （2）网络投票时间：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 2024年11月14日（星期四）上午9:15－9:25，9:30－11:30，下午13:00－15:00。通过 深圳证券交易所互联网投票系统投票的具体时间为2024年11月14日（星期四）上午 9:15至下午15:00期间的任意时间。 4、会议地点：宝武镁业科技股份有限公司会议室。 5、会议的召集、召开与表决程序符合《公司法》《深圳证券交易所股票上市规 则》及《公司章程》等法律、法规及规范性文件的规定 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative return of over 20% within the next six months [4][13]. Core Views - The company's revenue for the first three quarters of 2024 reached 6.347 billion yuan, a year-on-year increase of 14.1%, while the net profit attributable to shareholders was 154 million yuan, a year-on-year decrease of 25.9% [1][2]. - The company is advancing its complete magnesium industry chain, with significant production capacity expected from its six magnesium alloy automotive die-casting bases [2]. - The profitability is currently impacted by declining magnesium prices, but there is an expectation for improvement as the company expands its deep processing business and as magnesium prices stabilize [2][3]. Financial Performance Summary - For Q3 2024, the company achieved revenue of 2.271 billion yuan, a year-on-year increase of 11.9% and a quarter-on-quarter increase of 2.7% [1][2]. - The gross profit margin for the first three quarters was 11.48%, with a Q3 margin of 10.8%, reflecting a decrease due to lower raw magnesium prices [2]. - The average price of magnesium ingots in Q3 was 20,140 yuan per ton, showing a slight increase of 0.37% from the previous quarter [2]. Industry Insights - The magnesium industry is undergoing a supply-side restructuring, with China supplying over 80% of the world's raw magnesium, but facing short-term supply constraints due to environmental regulations [2]. - The demand for magnesium alloys is expected to grow significantly, particularly in the automotive sector, with a projected compound annual growth rate (CAGR) of 54% from 2023 to 2026 [2]. - The report emphasizes the historical opportunity for magnesium to evolve from a "small" metal to a "large" metal, driven by diverse demand and the company's capacity expansion [2].

Investment Rating - The investment rating for the company is "Buy" [1] Core Views - The company achieved operating revenue of 6.347 billion yuan in the first three quarters of 2024, a year-on-year increase of 14.09%, while the net profit attributable to shareholders decreased by 25.88% [2] - The persistent low magnesium prices have negatively impacted the company's performance, with the average price of magnesium ingots down 17.22% year-on-year as of October 25, 2024 [2] - The company is advancing its Qingyang project and expanding downstream applications, which are expected to become new profit growth points [2] - The investment suggestion indicates that with the gradual production of new projects, the company's original magnesium and deep processing capacity is expected to increase significantly [2] Summary by Sections Financial Performance - In Q3 2024, the company reported operating revenue of 2.271 billion yuan, a year-on-year increase of 11.86% and a quarter-on-quarter increase of 2.68%. The net profit attributable to shareholders was 34 million yuan, down 60.55% year-on-year and down 42.49% quarter-on-quarter [2] - The company’s gross profit margin for magnesium alloy products was 14.31% in the first half of the year, despite the low magnesium prices [2] Project Development - The Qingyang project is progressing steadily, with the successful completion of the third tunnel of the Anhui Baomei mineral product transportation corridor on September 5 [2] - The company has partnered with Suzhou Huichuan Power to launch magnesium alloy lightweight electric drive assemblies, which are expected to be significant growth points in the automotive sector [2] Future Projections - The company’s revenue projections for 2024-2026 are 8.387 billion yuan, 12.314 billion yuan, and 21.733 billion yuan, respectively. The net profit attributable to shareholders is projected to be 203 million yuan, 626 million yuan, and 1.007 billion yuan for the same period [3] - The earnings per share (EPS) are expected to be 0.29 yuan, 0.88 yuan, and 1.42 yuan for 2024, 2025, and 2026, respectively [3]