Group 1 - The Shanghai Composite Index increased by 0.38%, while the CSI New Energy Vehicle Industry Index rose by 0.82%, reaching 2040.3 points with a trading volume of 31.779 billion yuan [1] - The CSI New Energy Vehicle Industry Index has seen an increase of 8.05% over the past month, a decrease of 5.56% over the past three months, and a year-to-date increase of 4.07% [1] - The index includes 50 listed companies involved in various aspects of the new energy vehicle industry, reflecting the overall performance of leading companies in this sector [1] Group 2 - The top ten weighted companies in the CSI New Energy Vehicle Industry Index are BYD (14.35%), Huichuan Technology (11.18%), CATL (10.0%), Sanhua Intelligent Control (4.86%), Yiwei Lithium Energy (4.65%), Huayou Cobalt (3.86%), Ganfeng Lithium (2.85%), Greenmeadows (2.6%), Tianqi Lithium (2.46%), and Hongfa Technology (2.25%) [1] - The market share of the index's holdings is predominantly from the Shenzhen Stock Exchange at 82.98%, while the Shanghai Stock Exchange accounts for 17.02% [1] Group 3 - In terms of industry composition, the index's sample holdings are comprised of 55.56% in industrials, 25.54% in consumer discretionary, 17.74% in materials, and 1.16% in information technology [2] - The index samples are adjusted biannually, with adjustments occurring on the next trading day following the second Friday of June and December each year [2] - Public funds tracking the new energy vehicle sector include several ETFs, such as Ping An CSI New Energy Vehicle Industry ETF and Huatai-PineBridge CSI New Energy Vehicle ETF [2]

Core Viewpoint - The copper industry is facing a structural shift characterized by a rigid supply shortage at the mining end, excess smelting capacity, and a transition between old and new demand drivers, leading to a long-term upward trend in copper prices [19][24][25]. Group 1: Upstream Resources (Mining and Recycling) - Global copper reserves are approximately 980 million tons, with a mining lifespan of about 40 years based on current production levels [32]. - In 2024, global copper mine production is expected to reach 23 million tons, with a year-on-year growth of 1.8% [35]. - China's copper mine production is projected at 1.8 million tons in 2024, a decline of 1.1% year-on-year, primarily due to resource depletion and environmental restrictions [42][46]. Group 2: Recycling Sector (Recycled Copper) - The recycled copper market is supported by national strategies, aiming for a production target of 4 million tons by 2025, with recycled metal supply accounting for over 24% [4]. - In 2024, China is expected to import 2.25 million tons of scrap copper, with domestic recycling capacity reaching 2.49 million tons [5][48]. - The price of recycled copper is projected to show significant fluctuations, with an average price of 70,400 yuan per ton in 2024 [5]. Group 3: Midstream Smelting - The global refined copper production in 2024 is estimated at 27.634 million tons, with a year-on-year increase of 4.3% [9]. - China is the largest producer of refined copper, accounting for 49.9% of global production in 2024, with a projected output of 13.644 million tons [10]. - The smelting industry is experiencing a decline in processing fees, with long-term contracts expected to drop to $21.25 per ton by 2025, significantly below the breakeven point [8][20]. Group 4: Midstream Processing (Copper Products) - In 2024, China's copper processing output is expected to reach 23.503 million tons, representing over 50% of global production [11]. - The industry is characterized by low concentration, with the top five companies holding only 30% of the market share [11]. - The demand for high-end copper products is increasing, driven by the growth in new energy and infrastructure sectors [12][13]. Group 5: Downstream Demand (End Applications) - Global refined copper consumption in 2024 is projected at 27.33 million tons, with China accounting for 58% of this demand [14]. - The demand structure in China shows that electricity and power grids account for 46% of refined copper consumption, while new energy applications are rapidly growing [15]. - The transition from traditional to new energy applications is expected to drive significant growth in copper demand, particularly in sectors like electric vehicles and renewable energy [19][21]. Group 6: Supply and Demand Balance - The global refined copper supply-demand balance is expected to show a surplus of 19,000 tons in 2025, a decrease from the previous year's surplus of 30,200 tons [16]. - China's refined copper consumption is projected to grow by 2.9% in 2025, reaching 16.21 million tons, driven by new energy infrastructure investments [18]. - The copper market is anticipated to face a tightening supply situation due to the rigid shortage of mining resources and the acceleration of smelting capacity clearance [19][20]. Group 7: Investment Recommendations - Key investment opportunities include resource leaders like Zijin Mining and Longyan Copper, which are positioned to benefit from global resource control [21]. - Smelting leaders such as Jiangxi Copper are expected to gain from policy-driven supply-side reforms and the elimination of inefficient capacity [20]. - Companies focusing on high-end processing and recycled copper, such as Hailiang Co. and Gree Environmental, are likely to benefit from technological advancements and policy support [21].

Group 1 - The company, Greeenmei, is adjusting the repurchase price and canceling unvested restricted stock due to unmet performance targets in its 2022 stock incentive plan [1][2] - The board of directors has authorized the necessary adjustments and repurchase of restricted stock, which was approved in multiple meetings [2] - The repurchase price for the restricted stock has been adjusted to 3.445 yuan per share following the company's dividend distribution [3] Group 2 - A total of 8.75045 million shares of restricted stock will be repurchased and canceled due to the company failing to meet the cumulative revenue and net profit targets set for the 2022-2024 period [4] - The performance targets required a cumulative revenue of 100.6 billion yuan and a cumulative net profit of 6.8 billion yuan, which were not achieved [4] - The repurchase and cancellation plan has received the necessary approvals but still requires submission to the shareholders' meeting for further review [4]

Core Viewpoint - The legal opinion letter from Guangdong Junxin Jinglun Junhou Law Firm confirms that Greeenmei Co., Ltd. has obtained the necessary authorization and approval for the adjustment of the repurchase price and the repurchase and cancellation of unvested restricted stocks under the 2022 restricted stock incentive plan, in accordance with relevant laws and regulations [1][9]. Summary by Sections Authorization and Approval - The shareholders' meeting of Greenmei has authorized the board of directors to handle the adjustment and repurchase of restricted stocks, including decisions on whether to lift restrictions and manage the incentive plan [3][4]. - The board has approved the repurchase of 8.750450 million restricted stocks from 542 incentive recipients due to unmet performance targets for the third vesting period [3][8]. Adjustment Details - The repurchase price for the restricted stocks has been adjusted to 3.4450 yuan per share, following the company's annual profit distribution announcements [4][6]. - The adjustment method for the repurchase price accounts for cash dividends distributed to shareholders, ensuring the adjusted price remains above 1 yuan [6]. Repurchase and Cancellation - The repurchase involves 875.0450 million shares that were granted but not yet vested, due to the failure to meet the performance criteria set for the third vesting period [7][8]. - The legal opinion confirms that the repurchase and cancellation plan complies with the relevant regulations and is legally valid [9].

Core Viewpoint - The report discusses the independent financial advisory on the 2022 restricted stock incentive plan of Greeenmei Co., Ltd., focusing on the conditions for lifting restrictions and the adjustments to the repurchase price for certain restricted stocks [2][11]. Summary by Sections Independent Financial Advisor's Role - Shenzhen Tashan Enterprise Management Consulting Co., Ltd. was commissioned as the independent financial advisor for the 2022 restricted stock incentive plan of Greeenmei [2][12]. - The advisor confirms that the information provided by the company is accurate and complete, and the report does not constitute investment advice [2]. Incentive Plan Procedures - The necessary procedures for the implementation of the incentive plan have been completed, including the approval of related proposals by the board and independent directors [4][5]. - The company disclosed the list of incentive objects and received no objections during the public notice period [3]. Stock Repurchase and Cancellation - The company approved the repurchase and cancellation of 875.045 million shares of restricted stock due to unmet performance conditions for the third lifting period [6][7]. - The adjusted repurchase price for the restricted stocks is set at 3.4450 yuan per share [11]. Performance Conditions - The performance targets for the third lifting period were not met, with the company's 2022 revenue reported at approximately 29.39 billion yuan, falling short of the required targets [7][10]. - The company plans to adjust the repurchase price based on the annual equity distribution plan, which includes cash dividends and no stock dividends [9][11]. Share Capital Changes - Following the repurchase and cancellation of shares, the company's total share capital will decrease from 5,126,291,557 shares to 5,115,548,607 shares [8][9].

Group 1 - The supervisory board of the company held a meeting to discuss the conditions for the third unlock period of the 2022 restricted stock incentive plan, which were not met, leading to the decision to repurchase and cancel certain restricted stocks [1][2] - The company will repurchase and cancel 8.75045 million shares of restricted stock from 542 incentive objects due to the failure to meet performance assessment targets [2] - The repurchase price for the restricted stocks will be adjusted, and the decision is in compliance with the relevant regulations of the 2022 restricted stock incentive plan [2][3] Group 2 - A legal opinion and an independent financial advisor report were issued regarding the matter, which will be submitted for approval at the upcoming shareholders' meeting [3] - The supervisory board's resolution has been signed and stamped, and the announcement will be disclosed through designated media [3]

Core Viewpoint - The legal opinion confirms that the shareholder meeting of Greeenmei Co., Ltd. was convened and conducted in accordance with relevant laws and regulations, ensuring the legitimacy and effectiveness of the meeting procedures and voting results [1][7]. Group 1: Meeting Procedures - The board of directors of Greeenmei announced the shareholder meeting on April 26, 2025, detailing the time, location, agenda, and registration methods [1]. - The meeting took place on May 19, 2025, at the conference room of Greeenmei (Wuxi) Energy Materials Co., Ltd., presided over by Chairman Xu Kaihua [2]. - The meeting completed online voting within the stipulated time [2]. Group 2: Attendance and Voting - A total of 1,961 participants attended the meeting, representing 596,901,655 shares, which is 11.6439% of the total shares [2]. - Among the attendees, 1,946 participated in the voting, representing 88,215,651 shares, or 1.7208% of the total shares [2]. - All directors, supervisors, and the board secretary attended the meeting, ensuring proper representation [3]. Group 3: Voting Results - The meeting utilized a combination of on-site and online voting methods [3]. - The resolutions were passed with significant support, with votes such as 585,775,031 in favor (98.1359%), 10,316,324 against (1.7283%), and 810,300 abstentions (0.1358%) [4]. - Additional resolutions also received high approval rates, with similar patterns of support and opposition across various proposals [5][6]. Group 4: Legal Conclusion - The legal opinion concludes that the meeting's procedures, participant qualifications, and voting results comply with the Company Law, Securities Law, and internal regulations of Greeenmei, affirming their legality and validity [7].

Meeting Details - The meeting was convened by the company's board of directors on May 19, 2025, at 10:00 AM, combining on-site and online voting [1] - The meeting was hosted by Chairman Xu Kaihua and held at the conference room of Greenme (Wuxi) Energy Materials Co., Ltd. [1] - The notice and related documents were published on April 26, 2025, in various financial newspapers and on the official website [1] Attendance and Voting - A total of 1,961 shareholders participated, representing 596,901,655 shares, which is 11.7018% of the total voting shares [2] - On-site voting included 15 shareholders representing 508,686,004 shares (9.9724%), while 1,946 shareholders voted online representing 128,981,651 shares (2.5286%) [2] - The total share capital of the company was 5,126,291,557 shares, with 25,373,300 shares (0.49%) held in the repurchase account, which do not have voting rights [2] Proposal Voting Results - The meeting approved several proposals with significant support, including: - 585,775,031 shares voted in favor, accounting for 99.865% of the votes cast [3] - Among minority shareholders, 117,855,027 shares (91.3735%) voted in favor, while 10,316,324 shares (7.9983%) opposed [3] - The voting results for subsequent proposals showed consistent support, with majority approval rates exceeding 91% among minority shareholders [4][5][6][7][8][9][10] Independent Director Report - The independent directors presented their performance report for the year 2024 during the annual shareholders' meeting [10] Legal Opinion - The legal opinion provided by Guangdong Junxin Jinglun Junhou Law Firm confirmed that the meeting's convening and voting procedures complied with relevant laws and regulations [10]

证券代码：002340 证券简称：格林美 公告编号：2025-071 格林美股份有限公司 关于2022年限制性股票激励计划第三个解除限售期 解除限售条件未成就暨调整回购价格并回购注销部 分限制性股票的公告 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、误导性陈述或重大遗漏。 5、2022年7月18日，公司召开第六届董事会第八次会议和第六届监事会第七 次会议，审议通过了《关于调整公司2022年限制性股票激励计划相关事项的议案》 以及《关于向激励对象首次授予限制性股票的议案》。监事会对调整后的激励对 象名单进行了核实。独立董事对相关事项发表了独立意见，认为本次激励计划的 调整符合相关规定，激励对象主体资格合法、有效，确定的授予日符合相关规定。 6、2022年8月31日，公司披露了《关于2022年限制性股票激励计划首次授予 完成的公告》，公司完成2022年限制性股票激励计划首次授予登记工作，向677 名激励对象授予4,203.93万股限制性股票，授予的限制性股票上市日期为2022年 9月2日。根据公司《2022年限制性股票激励计划（草案）及其摘要》的相关规定， 预留授予部分的激励对象应在 ...

关于格林美股份有限公司 2024 年年度股东大会的 法律意见书 二〇二五年五月 广东君信经纶君厚律师事务所 关于格林美股份有限公司 2024 年年度股东大会的 法律意见书 致：格林美股份有限公司 （三）本次股东大会已在《股东大会通知》规定的时间内完成了网络投 票。 本律师认为，本次股东大会的召集和召开程序符合《公司法》《证券法》 《股东会规则》和格林美《章程》的有关规定。 二、本次股东大会的召集人资格和出席会议人员资格 （一）本次股东大会由格林美董事会召集。 广东君信经纶君厚律师事务所接受格林美股份有限公司（下称"格林美"） 的委托，指派戴毅律师、陈晓璇律师（下称"本律师"）出席格林美于 2025 年 5 月 19 日召开的 2024 年年度股东大会（下称"本次股东大会"），并根据《中 华人民共和国公司法》（下称"《公司法》"）、《中华人民共和国证券法》 （下称"《证券法》"）、中国证券监督管理委员会《上市公司股东会规则》 （下称"《股东会规则》"）及格林美《章程》的规定，就本次股东大会的召 集和召开程序、出席会议人员资格、召集人资格、表决程序、表决结果等事 项出具法律意见。 根据《股东会规则》第六条的要求， ...