江苏通江律师事务所 关于常州亚玛顿股份有限公司 2025 年第一次临时股东大会的法律意见书 致：常州亚玛顿股份有限公司 常州亚玛顿股份有限公司（以下简称"公司"）于 2025 年 7 月 7 日 14 点 30 分以现场会议与网络投票相结合的形式召开 2025 年度 第一次临时股东大会，江苏通江律师事务所（以下简称"本所"）接 受公司的委托，指派徐渊、周清律师出席会议，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《上市公司股东大会 规则》（以下简称"股东大会规则"）和《常州亚玛顿股份有限公司 章程》（以下简称"公司章程"），就本次股东大会出具法律意见书。 为出具本法律意见书，本所律师对公司本次股东大会所涉及的有 关事项进行了审查，查阅了公司提供的本次股东大会有关文件和资料， 同时听取了公司人员就有关事实的陈述和说明。 公司已向本所承诺：公司所提供的文件和所作陈述及说明是完整 的、真实的和有效的，有关原件及其上面的签字和印章是真实的，且 一切足以影响本法律意见书的事实和文件均已向本所披露，无任何隐 瞒、疏漏之处。 本所律师仅根据 ...

证券代码：002623 证券简称：亚玛顿 公告编号：2025-031 常州亚玛顿股份有限公司 4、本次股东大会以现场投票和网络投票相结合的方式召开。 二、会议通知情况 2025 年第一次临时股东大会决议公告 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。 公司董事会于 2025 年 6 月 21 日在《证券时报》《中国证券报》《上海证券报》 《经济参考报》和公司指定信息披露网站巨潮资讯网（http://www.cninfo.com. cn）上刊登了《关于召开 2025 年第一次临时股东大会的通知》（公告编号：20 25-028）。 三、会议召开基本情况 一、重要提示： 1、为尊重中小投资者利益，提高中小投资者对公司股东大会决议的重大事 项的参与度，根据国务院办公厅《关于进一步加强资本市场中小投资者合法权益 保护工作的意见》（国办发〔2013〕110 号）文件精神，本次股东大会采用中小 投资者单独计票。中小投资者是指除上市公司的董事、监事、高级管理人员和单 独或者合计持有上市公司 5%以上股份的股东。 2、本次股东大会无增减、变更、否决议案的情况。 3、本次股东 ...

Group 1 - The market focus is on leading stocks, with notable performances from LiuGao Co., which opened up 3.10%, and innovative drug concept stocks such as Sairui Medical, which opened up 3.89% [1][2] - Huayin Electric, a power stock, achieved a limit-up increase, marking its third consecutive day of gains [1][2] - Other stocks in the market included GuangShengTang, which opened up 6.17%, and WeiXinKang, which opened up 7.18%, indicating a positive trend in the healthcare sector [1][2] Group 2 - The stock performance data shows LiuGao Co. at 5.32 with a 3.10% increase, Sairui Medical at 21.90 with a 3.89% increase, and GuangShengTang at 54.51 with a 6.17% increase [2] - Huayin Electric is listed at 6.70 with a significant increase of 10.02%, reflecting strong investor interest [2] - Other notable stocks include YaMaTon, which opened down 1.93%, and HuoHui Co., which opened down 1.58%, indicating mixed performance in the market [2]

Core Viewpoint - The A-share photovoltaic sector has experienced a significant rebound since July 2, with notable increases in stock prices for companies like Yamaton and Yijing Photovoltaic, indicating a potential turning point after three years of decline [1][3]. Group 1: Market Performance - Since July 2, 2025, Yamaton and Yijing Photovoltaic saw stock price increases of 33% and 26% respectively over three trading days [1]. - Major companies such as Daqo Energy and Tongwei Co. also experienced gains exceeding 10% [1]. - The photovoltaic sector has faced a cumulative decline of over 50% since its peak in 2022, with some leading companies suffering losses of over 80% [3]. Group 2: Government Policy and Industry Outlook - The sixth Central Financial Committee meeting emphasized the need to regulate low-price competition and promote the exit of outdated production capacity in the photovoltaic sector [5][6]. - This policy direction is seen as a potential precursor to a supply-side reform similar to that initiated in the coal and steel industries in 2015 [7][10]. - The Ministry of Industry and Information Technology held a meeting focusing on the photovoltaic industry, where it was discussed to control the total production of polysilicon to not exceed 1.4 million tons by 2030, indicating a potential reduction of over 56% in capacity [8][9]. Group 3: Industry Dynamics and Investment Opportunities - The current market sentiment reflects a belief that the photovoltaic industry may be on the verge of a significant turnaround, with expectations of concrete policy implementations soon [15][19]. - A proposed alliance among six leading polysilicon companies aims to establish a 70 billion yuan fund to acquire and retire excess production capacity, which could facilitate a more orderly market exit for smaller firms [17][18]. - The current cash cost of polysilicon production for leading companies is around 27,000 to 35,000 yuan per ton, with a reasonable price expectation of 45,000 to 50,000 yuan to ensure profitability [25][26]. Group 4: Market Structure and Future Prospects - The global polysilicon market is heavily concentrated in China, with the top six companies accounting for over 80% of the market share [21]. - The integration of polysilicon production is expected to be less challenging compared to other segments, suggesting a higher potential for price recovery [22]. - The photovoltaic sector's overall valuation is currently at a historical low after three years of decline, indicating potential for valuation recovery as fundamental conditions improve [27].

Group 1: Market Overview - A-share major indices showed mixed performance on July 4, with the Shanghai Composite Index closing at 3472.32 points, up 0.32%, while the Shenzhen Component Index fell 0.25% to 10508.76 points [2] - The total trading volume in the Shanghai and Shenzhen markets reached 142.86 billion yuan, an increase of approximately 120 billion yuan compared to the previous trading day [2] Group 2: Power Sector Performance - The power sector saw significant gains, with multiple stocks hitting the daily limit up, driven by positive earnings forecasts from several power companies [2] - Huayin Power announced an expected net profit of 180 million to 220 million yuan for the first half of 2025, an increase of 175 million to 215 million yuan compared to the same period last year [2] Group 3: Investment Opportunities in Power Sector - China Galaxy Securities' mid-term strategy report for the power industry highlights investment opportunities in the second half of the year, focusing on improved profitability in thermal power due to declining coal prices, attractive dividend yields in hydropower, long-term growth in nuclear power, and clear revenue expectations in renewable energy [3] - Despite challenges such as declining electricity volume and prices, thermal power is expected to benefit from significant coal price reductions, providing room for profit improvement [3] Group 4: Solar Energy Sector Activity - The solar energy sector has been active, with stocks like Hopu Co. and Yamaton experiencing significant gains, driven by policies aimed at phasing out outdated production capacity [4] - Recent government meetings emphasized the need to address low-price competition in the solar industry and promote sustainable development [4] - The polysilicon market is showing signs of recovery, with prices slightly increasing due to stable production and easing supply-demand tensions [4] Group 5: Earnings Outlook and Sector Focus - Historical trends indicate that July and August in the A-share market will focus on semi-annual earnings reports, with structural opportunities expected to dominate [5] - Sectors with strong earnings certainty include wind power, gaming, and rare earths, while some renewable energy segments are seen as having reached reasonable valuation levels [5] - The macroeconomic outlook for July is stable, with expectations for trading to revolve around earnings reports [5] Group 6: Defensive Investment Strategies - Given uncertainties in the overseas market, high-dividend sectors such as telecommunications and electricity are recommended as risk-hedging investments [6] - If external conditions improve, sectors like non-bank financials may drive indices upward, warranting attention to insurance and brokerage firms [6]

7月4日，光伏概念板块走强，截至当日收盘，霍普股份、韶能股份、亚玛顿、东材科技等多只光伏概念 股盘中涨停，迪森股份、国际复材、协鑫能科等多只个股跟涨，市场热度提升。 "从时间节点看，近期光伏玻璃企业减产的时机确已到来。5月份抢装潮结束后，国内光伏行业需求骤 降，组件排产下降，光伏玻璃需求减弱、价格快速下跌。在这样的背景下，行业自发减产是合理的选 择。"中信建投期货能化高级分析师胡鹏说。 上海有色网提供的信息显示，预计7月份国内光伏玻璃产量将下降至45GW水平。供应量的收缩有望对 市场价格形成支撑作用，缓解企业持续亏损的困难局面。 消息面上，有传闻称"国内十大光伏玻璃厂商召开会议，决定自7月份起实施集体减产30%的计划"。上 海有色网光伏玻璃分析师郑天鸿表示，部分光伏玻璃企业前期已经规划好的减产计划，正在陆续执行， 7月份减产是大概率事件，未来减产动作可能还会延伸至三季度。 供需失衡倒逼减产 近年来，光伏玻璃行业经历了快速扩张期，导致供需关系急剧恶化。国金证券发布研报显示，截至2024 年末，光伏玻璃在产日熔量达92490吨，而需求端因组件产量连续下滑，库存飙升至45天，接近"爆 仓"临界点。 价格方面，隆众资 ...

Core Viewpoint - The recent meeting held by the Ministry of Industry and Information Technology (MIIT) aims to address the challenges faced by the photovoltaic (PV) industry and promote high-quality development, emphasizing the need to combat low-price disorderly competition and support the exit of outdated production capacity [1][2][5]. Group 1: Meeting Overview - The meeting was chaired by MIIT Minister Li Lecheng and included representatives from 14 major PV companies and industry associations, discussing the current state of the industry and providing policy suggestions [1][2]. - Li Lecheng highlighted the achievements of China's PV industry, noting its transformation from weak to strong, and emphasized the importance of maintaining confidence and implementing comprehensive measures for sustainable development [2][3]. Group 2: Industry Challenges and Responses - The meeting addressed the serious supply-demand imbalance in the PV industry, which has led to intense competition and price wars, urging companies to focus on technological innovation and quality [6][7]. - Several company representatives expressed support for the government's initiatives to regulate low-price competition and optimize production capacity, viewing it as an opportunity for leading firms to gain structural advantages [6][7]. Group 3: Future Expectations - There is a growing anticipation within the industry for substantive measures from the government to address the challenges faced by the PV sector, with expectations of targeted policies to facilitate supply-side reforms [7]. - Following the meeting, stock prices of several A-share PV companies have surged, indicating positive market sentiment regarding potential policy changes [7].

Market Overview - The A-share market showed mixed performance on July 4, with the Shanghai Composite Index rising slightly by 0.05% to 3462.99, while the Shenzhen Component and ChiNext Index fell by 0.35% and 0.31% respectively [2][3] - The total trading volume reached 1.77 billion hands, with a turnover of 190.16 billion [4] Sector Performance - The steel sector saw a collective rise, with notable stocks like Liugang and Linggang hitting the daily limit up [10][11] - The banking sector also experienced gains, with several banks, including Zheshang Bank and Shanghai Bank, reaching new highs [16][17] - The pharmaceutical sector remained strong, with stocks like Hotgen and Guangsheng rising over 10% [12][13] Notable Stocks - Hangzhou Garden surged to the daily limit within two minutes of opening, while Nanling Technology also hit the limit up [20][22] - In the steel sector, Liugang shares increased by 10.02%, and Linggang shares rose by 10.16% [11] - In the pharmaceutical sector, Hotgen's stock price increased by 14.57%, and Guangsheng's by 10.75% [13] Industry Insights - The Ministry of Industry and Information Technology emphasized the need for orderly competition in the photovoltaic industry, aiming to improve product quality and phase out outdated capacity [8] - A report indicated that the photovoltaic industry may face weakening demand in the second half of the year, prompting leading companies to reduce production to improve supply-demand dynamics [9]

Group 1 - Hoshine Silicon Industry's controlling shareholder plans to exchange part of the company's shares for ETF shares to support the ETF market and optimize the company's equity structure, with a maximum of 11.82 million shares, representing no more than 1% of the total share capital [1] - The move is seen as a positive signal reflecting the major shareholder's confidence in the company's long-term development, and the market will pay attention to the subsequent progress of the exchange and its impact on corporate governance [1] Group 2 - Yamaton announced that its stock price had deviated significantly, with a cumulative increase of over 20% in two consecutive trading days, prompting the company to clarify that recent media interviews did not disclose its production arrangements or performance forecasts [2] - The company emphasized that the interviews only covered industry dynamics and overseas investment strategies, aiming to stabilize market expectations and indicating that the stock price fluctuations may be due to market misinterpretation [2] Group 3 - Yongtai Technology and its subsidiary have filed civil lawsuits against Tianci Materials for defamation, with a total claim amount of 57.52 million yuan, and the cases have been accepted by the courts [3] - The legal action demonstrates the company's determination to protect its rights, although the impact on current and future profits remains uncertain as the cases have not yet gone to trial [3]

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。 一、股票交易异常波动的情况介绍 常州亚玛顿股份有限公司（以下简称"公司"或者"本公司")股票（证券 代码：002623，证券简称：亚玛顿）连续两个交易日（2025 年 7 月 2 日、7 月 3 日）收盘价格涨幅偏离值累计超过 20%。根据《深圳证券交易所交易规则》的相 关规定，属于股票交易异常波动的情况。 二、公司关注、核实情况说明 针对公司股票交易异常波动的情况，公司进行了自查，并向公司控股股东、 实际控制人就相关事项进行了书面核实，现就有关情况说明如下： 证券代码：002623 证券简称：亚玛顿 公告编号：2025-030 常州亚玛顿股份有限公司 股票交易异常波动公告 1、截至目前，公司前期披露的信息不存在需要更正、补充之处； 三、是否存在应披露而未披露信息的说明 本公司董事会确认，本公司目前没有任何根据《深圳证券交易所股票上市规 则》等有关规定应予以披露而未披露的事项或与该事项有关的筹划、商谈、意向、 协议等；董事会也未获悉公司有根据《深圳证券交易所股票上市规则》等有关规 定应予以披露而未披露的、对本公司 ...