上海顺灏新材料科技临时股东大会法律意见书 上海顺灏新材料科技临时股东大会法律意见书 2025 上海正策律师事务所（以下简称"本所"）接受上海顺灏新材料科技股份有限公 司（以下简称"公司"）委托，指派王永杰律师、陈天怡律师（以下简称"本所律师"） 出席公司于 2025 年 9 月 5 日下午 14:30 于上海市普陀区真陈路 200 号一楼会议室 召开的 2025 年第一次临时股东大会（以下简称"本次临时股东大会"或"本次会议"）， 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》"）、中国证券监督管理委员会（以下简称"中国 证监会"）《上市公司股东会规则》（以下简称"《股东会规则》"）、《深圳证券 交易所上市公司股东会网络投票实施细则（2025 年修订）》（以下简称"《网络投票 实施细则》"）等相关法律法规、规章及《上海顺灏新材料科技股份有限公司章程》 （以下简称"《公司章程》"）、《上海顺灏新材料科技股份有限公司股东大会议事 规则》的有关规定，出具本法律意见书。 为出具本法律意见书，本所律师审查了公司本次临时股东大会的有关文件和资料， 公司已向本所见 ...

Group 1 - A-share companies are increasingly planning to list in Hong Kong, indicating a trend in the market [1] - A total of 29 A-share listed companies have disclosed plans for Hong Kong listings this month [1] - Notable companies involved in this trend include Huaxin Cement, Shengbang Co., Dongcheng Pharmaceutical, and others [1]

证券代码：002565 证券简称：顺灏股份 公告编号：2025-048 上海顺灏新材料科技股份有限公司 2025年员工持股计划第一次持有人会议决议公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 上海顺灏新材料科技股份有限公司（以下简称"公司"）2025 年员工持股 计划第一次持有人会议于 2025 年 8 月 29 日以通讯方式召开。本次会议由公司董 事长王钲霖先生召集和主持，本次会议的召集、召开和表决程序符合相关法律法 规、规范性文件及和《公司 2025 年员工持股计划管理办法》的有关规定。会议 经与会持有人审议、表决通过以下议案并形成如下决议： 一、审议并通过《关于设立公司 2025 年员工持股计划管理委员会的议案》 为保证公司 2025 年员工持股计划的顺利进行，保障持有人的合法权益，根 据公司《2025 年员工持股计划》《2025 年员工持股计划管理办法》等有关规定， 同意设立公司 2025 年员工持股计划管理委员会，并授权管理委员会作为员工持 股计划的管理机构，监督本员工持股计划的日常管理，代表持有人行使股东权利。 管理委员会至少由 3 名委员组成， ...

Market Overview - The packaging and printing sector experienced a decline of 1.48% on August 27, with Shunhao Co. leading the drop [1] - The Shanghai Composite Index closed at 3800.35, down 1.76%, while the Shenzhen Component Index closed at 12295.07, down 1.43% [1] Stock Performance - Notable gainers in the packaging and printing sector included: - Xianggang Technology, closing at 19.97 with a rise of 10.03% and a trading volume of 129,900 shares [1] - Jinghua Laser, closing at 28.91 with a rise of 10.01% and a trading volume of 326,600 shares [1] - Hongbo Co., closing at 22.03 with a rise of 4.66% and a trading volume of 1,353,300 shares [1] - Conversely, Shunhao Co. saw a significant decline, closing at 7.58 with a drop of 5.72% and a trading volume of 700,200 shares [2] Capital Flow - The packaging and printing sector experienced a net outflow of 26.84 million yuan from institutional investors and 29.99 million yuan from speculative funds, while retail investors saw a net inflow of 56.83 million yuan [2] - Key stocks with notable capital flow included: - Jinghua Laser with a net inflow of 276 million yuan from institutional investors [3] - Xianggang Technology with a net inflow of 106 million yuan from institutional investors [3] - Hongbo Co. had a net inflow of 46.79 million yuan from institutional investors [3]

Market Overview - The packaging and printing sector increased by 0.13% on August 25, with Jinjia Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3883.56, up 1.51%, while the Shenzhen Component Index closed at 12441.07, up 2.26% [1] Key Performers - Jinjia Co., Ltd. (002191) closed at 4.59, up 10.07% with a trading volume of 948,800 shares and a transaction value of 425 million [1] - Xiangxinglong (833075) closed at 34.28, up 4.58% with a trading volume of 32,800 shares [1] - Wangzi New Materials (002735) closed at 16.32, up 3.95% with a trading volume of 463,500 shares [1] - Hongyu Packaging (837174) closed at 20.75, up 3.59% with a trading volume of 49,200 shares [1] Fund Flow Analysis - The packaging and printing sector experienced a net outflow of 64.67 million from institutional investors, while retail investors saw a net outflow of 33.80 million [2] - Speculative funds had a net inflow of 98.47 million [2] Individual Stock Fund Flow - Jinjia Co., Ltd. had a net inflow of 12.7 million from institutional investors, but a net outflow of 55.17 million from speculative funds and 71.94 million from retail investors [3] - Wangzi New Materials saw a net inflow of 43.03 million from institutional investors, with a net outflow of 59.53 million from retail investors [3] - Dongfeng Group (601515) had a net inflow of 18.64 million from institutional investors, while retail investors experienced a net outflow of 41.47 million [3]

Market Performance - The packaging and printing sector rose by 0.79% on August 22, with Dongfeng Group leading the gains [1] - The Shanghai Composite Index closed at 3825.76, up 1.45%, while the Shenzhen Component Index closed at 12166.06, up 2.07% [1] Individual Stock Performance - Dongfeng Group (601515) closed at 4.88, up 7.96% with a trading volume of 954,300 shares and a turnover of 451 million yuan [1] - Xianggang Technology (603499) closed at 20.28, up 6.74% with a trading volume of 204,600 shares and a turnover of 398 million yuan [1] - Hongbo Co., Ltd. (002229) closed at 20.22, up 3.64% with a trading volume of 1,006,800 shares and a turnover of 2.024 billion yuan [1] Capital Flow Analysis - The packaging and printing sector experienced a net outflow of 50.81 million yuan from institutional investors, while retail investors saw a net inflow of 192 million yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors increased their positions [2] Detailed Capital Flow for Selected Stocks - Hongbo Co., Ltd. (002229) had a net inflow of 117 million yuan from institutional investors, but a net outflow of 59.17 million yuan from speculative funds [3] - Dongfeng Group (601515) saw a net inflow of 26.18 million yuan from institutional investors, with a net outflow of 23.44 million yuan from speculative funds [3] - Shunhao Co., Ltd. (002565) had a net inflow of 52.37 million yuan from institutional investors, but a net outflow of 53.01 million yuan from speculative funds [3]

Core Viewpoint - Shanghai Shunhao New Materials Technology Co., Ltd. plans to issue shares overseas (H-shares) and list on the Hong Kong Stock Exchange to enhance its global strategy and competitiveness [2] Company Overview - Shunhao Co. was established in 2004 and focuses on four main business areas: research, production, and sales of specialty environmentally friendly paper; printing products; deep processing of industrial hemp; and research, production, and sales of new tobacco products [2] - The company was listed on the Shenzhen Stock Exchange on March 18, 2011, with a current market capitalization exceeding 9.1 billion yuan [2] Financial Performance - In the first half of 2025, Shunhao Co. achieved a revenue of 620 million yuan, a year-on-year decrease of 12.19% - The net profit attributable to shareholders was 33.3 million yuan, representing a year-on-year increase of 23.11% [2] Shareholding Structure - As of June 2025, Shunhao Investment Group Co., Ltd. is the largest shareholder, holding 20.10% of the shares [3] - The actual controller of the company, Wang Zhenglin, holds 100% of the shares of the largest shareholder, and together with Wang Dan, they hold a combined 23.86% [4] Management Changes - In June 2025, several vice presidents, including Zhang Xiaoyong and Hou Ningning, resigned, while three new vice presidents, Ni Li, Xiang Songlin, and Wu Di, were appointed [6] - Ni Li has extensive experience in international trade and has held various managerial positions within the company [6][7]

Group 1: Company Overview - Shanghai Shunhao New Materials Technology Co., Ltd. focuses on "environmental low-carbon new materials + biological health" dual development strategy [2] - The company operates four main business areas: special environmental paper, printing products, industrial hemp processing, and new tobacco products [2][3] - The special anti-counterfeit environmental paper business includes vacuum aluminum paper and laser anti-counterfeit materials, primarily serving specific consumer goods and social consumer goods industries [2][3] Group 2: Business Performance - The printing business relies on bidding projects to secure orders, offering high customization and stability compared to other printing products [3] - The company has maintained stable revenue and profit levels in its core businesses over recent years [3] - New tobacco business has developed through subsidiaries, generating significant business revenue [3] Group 3: Industrial Hemp and International Expansion - The industrial hemp business focuses on CBD extraction and product export, with a subsidiary in the U.S. offering products like Vitaldiol—R series [3] - The company has plans for international product offerings that emphasize natural health [3] Group 4: Recent Investments and Financial Insights - The company invested 110 million RMB for a 19.30% stake in Beijing Rail Space Technology Co., Ltd. [3] - In the first half of 2025, pre-receipts increased by 2.6125 million RMB, accounting for only 0.10% of total assets [3] Group 5: Regulatory Compliance - The company adhered to regulations during investor relations activities, ensuring no undisclosed significant information was leaked [4]

证券代码：002565 证券简称：顺灏股份 公告编号：2025-047 上海顺灏新材料科技股份有限公司 关于2025年员工持股计划非交易过户完成的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 上海顺灏新材料科技股份有限公司（以下简称"公司"）分别于 2025 年 5 月 16 日、2025 年 5 月 29 日召开第六届董事会薪酬与考核委员会第二次会议、 第六届董事会第六次会议、第六届监事会第六次会议及 2024 年年度股东大会， 审议通过了《关于公司 2025 年员工持股计划（草案）及其摘要的议案》《关于 公司 2025 年员工持股计划管理办法的议案》等相关议案；公司于 2025 年 6 月 26 日召开第六届董事会薪酬与考核委员会第三次会议、第六届董事会第八次会 议，审议通过了《关于调整 2025 年员工持股计划购买价格的议案》。具体内容 详见公司于 2025 年 5 月 19 日、2025 年 5 月 30 日、2025 年 6 月 27 日在巨潮资 讯网（www.cninfo.com.cn）上披露的相关公告。 根据《关于上市公司实施员工持股计划试点的 ...

Core Viewpoint - Shunhao Co., Ltd. plans to issue H shares and list on the Hong Kong Stock Exchange despite declining performance and ongoing legal issues, raising questions about the necessity and feasibility of the IPO [1][10]. Financial Performance - Shunhao's revenue and net profit have been on a downward trend since 2018, with revenue failing to exceed the 2018 peak of 20.55 billion yuan, and net profit showing significant losses in several years [4][5]. - In the first half of 2025, the company reported revenue of 620 million yuan and a net profit of 29 million yuan, representing year-on-year declines of 12.19% and 6.24% respectively [6]. Employee Reduction - The company has reduced its workforce by nearly 50% over the past seven years, from 2,121 employees in 2017 to 1,116 in 2024, indicating ongoing operational challenges [7][9]. Acquisition Issues - Shunhao has faced significant losses due to problematic acquisitions, such as the 2013 purchase of Zhejiang Demei, which led to a loss of 51 million yuan in 2014 due to management misconduct [5][6]. Legal and Compliance Challenges - The company is currently under investigation for alleged unit bribery, which poses a significant obstacle to its IPO plans, as compliance with regulatory standards is critical for approval from both the China Securities Regulatory Commission and the Hong Kong Stock Exchange [11][12][13].