上海姚记科技股份有限公司可转换公司债券 二〇二五年六月 重要声明 本报告依据《公司债券发行与交易管理办法》（以下简称"《管理办法》"）、 《公司债券受托管理人执业行为准则》（以下简称"《执业行为准则》"）、《公 司信用类债券信息披露管理办法》、上海姚记科技股份有限公司（以下简称"姚 记科技"、"发行人"或"公司"）与中信建投证券股份有限公司（以下简称"中 信建投证券"或"受托管理人"）签订的《债券受托管理协议》（以下简称"受 托管理协议"）、相关信息披露文件以及发行人提供的资料等，由受托管理人中 信建投证券编制。中信建投证券编制本报告所引用的财务数据，引自经立信会计 师事务所（特殊普通合伙）审计的 2024 年年度报告。本报告其他内容及信息均 来源于公司提供的资料或说明，请投资人关注并独立做出投资判断。 本报告不构成对投资者进行或不进行某项行为的推荐意见，投资者应对相关 事宜作出独立判断，而不应将本报告中的任何内容据以作为中信建投证券所作的 承诺或声明。在任何情况下，未经中信建投证券书面许可，不得将本报告用作其 他任何用途。 2024 年度受托管理事务报告 上海姚记科技股份有限公司 （住所：上海市嘉定区曹安公 ...

上海姚记科技股份有限公司 2025 年跟踪评级报告 | | | www.lhratings.com 1 联合〔2025〕4257 号 联合资信评估股份有限公司通过对上海姚记科技股份有限公司 主体及其相关债券的信用状况进行跟踪分析和评估，确定维持上海 姚记科技股份有限公司主体长期信用等级为 A+，维持"姚记转债" 信用等级为 A+，评级展望为稳定。 特此公告 联合资信评估股份有限公司 评级总监： 二〇二五年六月二十四日 声 明 一、本报告是联合资信基于评级方法和评级程序得出的截至发表之日 的独立意见陈述，未受任何机构或个人影响。评级结论及相关分析为联合 资信基于相关信息和资料对评级对象所发表的前瞻性观点，而非对评级对 象的事实陈述或鉴证意见。联合资信有充分理由保证所出具的评级报告遵 循了真实、客观、公正的原则。鉴于信用评级工作特性及受客观条件影响， 本报告在资料信息获取、评级方法与模型、未来事项预测评估等方面存在 局限性。 二、本报告系联合资信接受上海姚记科技股份有限公司（以下简称 "该公司"）委托所出具，除因本次评级事项联合资信与该公司构成评级 委托关系外，联合资信、评级人员与该公司不存在任何影响评级行为独立 ...

Group 1 - The valuation of core companies in the gaming sector is currently between 15-20x, which is significantly lower than that of core companies in the new consumption sector, indicating a positive outlook for the gaming sector [1][3] - On June 24, the gaming sector showed strong performance, with notable stock price increases: Glacier Network up 20%, Electric Soul Network up 10%, and other companies like Changqu Technology and Sheng Tian Network also seeing gains [1][2] - Recent policies from the Beijing Municipal Committee for Propaganda aim to promote high-quality development in the gaming and esports industry, emphasizing the integration of technology such as AI and AIGC into game development and operations [2][3] Group 2 - The policy document supports enterprises in the gaming and esports sector to invest in related fields such as artificial intelligence, game engines, and interactive streaming, encouraging the establishment of key laboratories and core technology breakthroughs [3] - The report from CITIC Securities highlights that gaming is an important yet overlooked aspect of new consumption, characterized by high frequency and cost-effectiveness, and the potential for generating original game IPs [3] - Huaxi Securities' research indicates that the industry is experiencing steady growth, with leading companies leveraging long-term IP operations and technological innovation to enhance user value, while the resilience of the overseas market is becoming a core competitive barrier [3]

Group 1 - The company held its 19th meeting of the 6th Supervisory Board on June 20, 2025, via telecommunication methods, with all three supervisors present and unanimously agreed to waive the notice period for the meeting [1][2] - The meeting approved a proposal for the company's wholly-owned subsidiary to apply for a comprehensive credit facility from a bank and to provide guarantees for it, with all votes in favor [1][2] - The guarantee is intended to support the normal operations of the subsidiary and is beneficial for its business development, with no harm to the company's or shareholders' interests [2]

Group 1 - The company announced that its wholly-owned subsidiary, Shanghai Luming Network Technology Co., Ltd., is applying for a comprehensive credit limit of RMB 25 million from Agricultural Bank of China to meet its operational funding needs [1][2] - The company will provide a joint liability guarantee for the credit limit, with a guarantee amount not exceeding RMB 25 million and a guarantee period of three years after the debt performance period [1][3] - The board of directors believes that providing this guarantee supports the subsidiary's sustainable development and meets its operational needs, with the financial risk being manageable [3][4] Group 2 - The subsidiary, Shanghai Luming Network Technology Co., Ltd., was established on December 15, 2017, with a registered capital of RMB 13,691,100 and is involved in various technology and consulting services [2] - As of March 31, 2025, the subsidiary reported total assets of RMB 597,152,931.72, total liabilities of RMB 330,625,473.97, and net assets of RMB 266,527,457.75 [2] - The subsidiary's revenue for the first quarter of 2025 was RMB 307,352,559.01, with a net profit of RMB 5,134,636.45 [2] Group 3 - The company has not provided any external guarantees to third parties, and the total approved guarantee amount for subsidiaries is RMB 400 million, which includes the current guarantee [4] - The cumulative guarantee balance for subsidiaries is RMB 285 million, representing 8.10% of the company's latest audited net assets [4] - There are no overdue guarantees or guarantees related to litigation or losses incurred from guarantees [4]

| 证券代码：002605 | 证券简称：姚记科技 | 公告编号：2025-044 | | --- | --- | --- | | 债券代码：127104 | 债券简称：姚记转债 | | | | 上海姚记科技股份有限公司 | | 关于全资子公司向银行申请综合授信额度并为其提供担保 的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 上海姚记科技股份有限公司（以下简称"公司"或"姚记科技"）于 2025 年 6 月 20 召开第六届董事会第二十一次议和第六届监事会第十九次会议，审议通过了 《关于全资子公司向银行申请综合授信额度并为其提供担保的议案》，现将相关 内容公告如下： 一、本次担保事项概述 公司全资子公司上海芦鸣网络科技有限公司（以下简称"芦鸣科技"）向中 国农业银行股份有限公司上海嘉定支行（以下简称"农业银行"）申请人民币 2,500 万元的综合授信额度即将到期，芦鸣科技为解决其日常经营所需资金的需求，拟 继续向农业银行申请人民币 2,500 万元的综合授信额度，包括国内信用证融资、 商票保贴等，业务发生期间为合同签订之日起 1 年。公司为支持全资子 ...

公司本次担保的相关事项、审议程序符合《公司法》《公司章程》等有关法 律、法规的规定。被担保人为公司全资子公司，担保事项是为满足全资子公司正 常经营的需要，有利于子公司的经营和发展。相关担保事项不存在损害公司及股 东权益的情形。 本公司及监事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 上海姚记科技股份有限公司（以下简称"公司"）第六届监事会第十九次会 议于 2025 年 6 月 16 日以电话、电子邮件方式发出通知，并于 2025 年 6 月 20 日 以通讯表决方式召开。会议应到监事 3 名，实际出席会议的监事 3 名。经全体监 事一致同意，豁免本次监事会会议的通知时限，会议的召开和表决符合有关法律、 行政法规、部门规章、规范性文件和公司章程的规定。会议由监事会主席王琴芳 女士主持，经全体监事审议和表决，通过了以下议案： 一、会议审议通过了《关于全资子公司向银行申请综合授信额度并为其提供 担保的议案》，同意 3 票，反对 0 票，弃权 0 票。 | | | 上海姚记科技股份有限公司 第六届监事会第十九次会议决议公告 特此公告! 上海姚记科技股份有限公司监事会 2025 ...

一、审议通过了《关于全资子公司向银行申请综合授信额度并为其提供担保 的议案》，同意 7 票，反对 0 票，弃权 0 票。 公司全资子公司上海芦鸣网络科技有限公司（以下简称"芦鸣科技"）拟向 中国农业银行股份有限公司上海嘉定支行（以下简称"农业银行"）申请人民币 2,500 万元的综合授信额度，包括国内信用证融资、商票保贴等，业务发生期间 为合同签订之日起 1 年。公司为支持全资子公司的经营发展，拟为本次芦鸣科 技向农业银行申请的授信额度提供连带责任保证，保证金额不超过 2,500 万元， 保证期间为授信协议约定的债务履行期限届满之日起三年。 具体内容详见巨潮资讯网（www.cninfo.com.cn）及公司指定信息披露媒体《证 券时报》《中国证券报》《证券日报》同日披露的《关于全资子公司向银行申请综 合授信额度并为其提供担保的公告》。 | 证券代码：002605 | 证券简称：姚记科技 | 公告编号：2025-045 | | --- | --- | --- | | 债券代码：127104 | 债券简称：姚记转债 | | | | 上海姚记科技股份有限公司 | | 第六届董事会第二十一次会议决议公告 本公司及董事 ...

盘面上来看，行业板块、概念涨多跌少。其中，有色金属、传媒、美容护理、医药生物、通信、银行、 石油石化、珠宝首饰等行业涨幅靠前；盲盒经济、谷子经济、彩票、创新药、宠物经济、小红书、可控 核聚变、黄金、影视等概念走势活跃。家电、煤炭、食品饮料、农林牧渔、房地产、国防军工等行业跌 幅居前；水产养殖、啤酒、猪肉、免税、环氧丙烷、工业气体等概念走势较弱。涨停个股主要集中在汽 车、传媒、计算机、医药生物、轻工制造等行业。 个股涨跌情况，截至收盘，沪深两市合计2196只个股上涨，2741只个股下跌，平盘个股194只，停牌的 个股20只。不含当日上市新股，共有73只个股涨停，5只个股跌停。 涨停股中，从收盘涨停板封单量来看，英利汽车最受追捧，收盘涨停板封单有3776.92万股；其次是新 北洋、康惠制药、美晨科技、安妮股份、ST联合、宁波东力等股，涨停板封单分别有2721.7万股、 2278.78万股、2203.99万股、1780.13万股、1592.75万股、1416.44万股。 以涨停板封单金额计算，15股封单金额超1亿元。其中，康惠制药涨停板封单资金最多，涨停板封单资 金为6.26亿元；其次是北矿科技、新北洋、英利汽车、 ...

Core Viewpoint - The short drama game concept sector has shown a positive performance with a 1.47% increase, ranking 10th among concept sectors, driven by significant gains in several stocks, while some experienced declines [1]. Group 1: Sector Performance - The short drama game concept saw 33 stocks rise, with notable performers including Chuanwang Media, which hit a 20% limit up, and others like Guangdong Media and Yuanlong Yatu, which also reached their limit up [1]. - The top gainers in the sector included Happy Blue Sea, Haikan Co., and Perfect World, with increases of 13.59%, 4.96%, and 4.95% respectively [1]. - Conversely, stocks such as Yaoji Technology, Tianfu Culture Tourism, and Zhejiang Cultural Industry experienced declines of 7.94%, 2.58%, and 2.49% respectively [1]. Group 2: Capital Flow - The short drama game concept sector experienced a net outflow of 70 million yuan from main funds, with 24 stocks seeing net inflows [1]. - The leading stock in terms of net inflow was Zhongwen Online, which attracted 227 million yuan, followed by BlueFocus, Yuanlong Yatu, and Chuanwang Media with net inflows of 170 million yuan, 117 million yuan, and 90.9 million yuan respectively [1]. - The net inflow ratios for Chuanwang Media, Yuanlong Yatu, and BlueFocus were 12.54%, 11.71%, and 10.42% respectively, indicating strong interest from main funds [2].