| 证券代码：002645 | 证券简称：华宏科技 | 公告编号：2025-042 | | --- | --- | --- | | 债券代码：127077 | 债券简称：华宏转债 | | 江苏华宏科技股份有限公司 2024 年度股东大会决议的公告 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。 特别提示： 1、本次股东大会未出现否决提案的情形； 2、本次股东大会未涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 （一）召开情况 1、召开时间： 现场会议召开时间：2025 年 5 月 23 日（星期五）下午 14：30。 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时间为：2025 年 5 月 23 日上午 9:15-9:25，9:30-11:30，下午 13:00-15:00； 出席本次股东大会的股东及股东代表（包括代理人）186 人，代表有表决权的 股份为 299,875,792 股，占公司有表决权股份总数的 52.1554%。 1、出席现场会议的股东及股东代表（包括代理人）8 人，代表有表决权的股份 为 295,820,577 股，占公 ...

华宏科技 法律意见书 江苏世纪同仁律师事务所 关于江苏华宏科技股份有限公司 2024 年度股东大会的法律意见书 致：江苏华宏科技股份有限公司 根据《中华人民共和国公司法》《中华人民共和国证券法》和中国证监会《上 市公司股东会规则》等法律、法规和规范性文件以及《公司章程》的规定，本所 受贵公司董事会的委托，指派本所律师出席贵公司 2024 年度股东大会，并就本 次股东大会的召集、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，本所律师对本次股东大会所涉及的有关事项进行了审 查，查阅了本所律师认为出具法律意见所必须查阅的文件，并对有关问题进行了 必要的核查和验证。 本法律意见书仅供公司 2024 年度股东大会之目的使用。本所律师同意将本 法律意见书随贵公司本次股东大会决议一并公告，并依法对本法律意见书承担相 应的责任。 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、关于本次股东大会的召集、召开程序 （一）本次股东大会由董事会召集。2025 年 4 月 23 日，贵公司召 ...

Investment Ratings - The report does not explicitly provide investment ratings for the industry sectors discussed. Core Insights - The industrial metals sector is experiencing an upward turning point in market conditions, particularly for copper and aluminum, driven by easing trade tensions between the US and China [13]. - Precious metals, particularly gold, are facing downward pressure due to a stronger US dollar and reduced appeal as a safe-haven asset amid improving trade relations [15]. - The rare earth sector is witnessing a simultaneous increase in both domestic and international prices, driven by export controls and a recovering market sentiment [32]. Summary by Sections 1. Overview of Bulk and Precious Metals Market - Copper prices increased slightly, with LME copper at $9,440.00 per ton and Shanghai copper at ¥78,100 per ton. A notable rise in copper inventory was observed, ending a ten-week decline, attributed to weakened downstream demand [13]. - Aluminum prices rose by 2.75% to $2,484.50 per ton, with domestic inventories remaining low despite a slight decrease in stock levels [14]. - Gold prices fell by 1.13% to $3,205.30 per ounce, influenced by a stronger dollar and easing trade tensions between the US and China [15]. 2. Updates on Bulk and Precious Metals Fundamentals 2.1 Copper - The report highlights a significant increase in copper inventory, reaching 132,000 tons, marking a shift in market dynamics due to reduced demand [13]. - The processing fee for imported copper concentrate has dropped to -$43.05 per ton, indicating pressure on the supply side [13]. 2.2 Aluminum - Domestic electrolytic aluminum ingot inventory decreased to 581,000 tons, remaining at a near three-year low, while the cost of prebaked anodes increased slightly [14]. - The report notes that the Guinean government has revoked mining licenses for over 40 companies, impacting aluminum ore production capacity [14]. 2.3 Precious Metals - The report discusses the impact of US-China trade negotiations on gold prices, with a significant reduction in SPDR gold holdings [15]. - Economic indicators such as the US CPI and PPI suggest a cooling inflation environment, which may influence future monetary policy [15]. 3. Overview of Minor Metals and Rare Earths Market - The rare earth market is experiencing price increases, particularly for dysprosium and terbium, driven by export controls and a recovering market sentiment [32]. - The antimony market is expected to see price recovery due to supply disruptions from Myanmar and ongoing anti-smuggling efforts in China [33]. - Tin prices have risen, supported by positive expectations from US-China trade negotiations, despite some production concerns [35]. 4. Updates on Minor Metals and Rare Earths Fundamentals 4.1 Rare Earths - Prices for rare earth elements are showing upward trends, with significant increases in overseas prices following export control measures [32]. - The report anticipates a continued tightening of supply due to regulatory changes and geopolitical factors affecting production [32]. 4.2 Antimony - Antimony prices are expected to recover as supply constraints from Myanmar persist, alongside increased demand from various sectors [33]. 4.3 Tin - Tin prices are supported by a favorable market outlook, driven by demand recovery in sectors such as semiconductors and photovoltaics [35].

证券代码：002645 证券简称：华宏科技 公告编号：2025-041 债券代码：127077 债券简称：华宏转债 江苏华宏科技股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、担保情况概述 （一）担保审议情况 江苏华宏科技股份有限公司（以下简称"公司"或"华宏科技"）于 2024 年 4 月 24 日召开第七届董事会第十四次会议，并于 2024 年 5 月 17 日召开 2023 年度股东大会，审议通过了《关于公司及子公司 2024 年度对外担保额度预计的 议案》，同意公司为子公司提供担保额度总计不超过 15 亿元人民币，并授权公 司董事长全权代表公司签署上述担保额度内的各项法律文件，授权期限自公司 刊登于《证券时报》 《上海证券报》及巨潮资讯网（www.cninfo.com.cn）的《关 于公司及子公司 2024 年度对外担保额度预计的公告》。 保证人：江苏华宏科技股份有限公司 债权人：宁波余姚农村商业银行股份有限公司 债务人：浙江中杭新材料科技有限公司 担保本金金额：人民币 3,900 万元 保证范围：本合同项下所产生的债权人的所有债权， ...

| 证券代码：002645 | 证券简称：华宏科技 公告编号：2025-041 | | --- | --- | | 债券代码：127077 | 债券简称：华宏转债 | 江苏华宏科技股份有限公司 关于为控股子公司提供担保的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 江苏华宏科技股份有限公司（以下简称"公司"或"华宏科技"）于 2024 年 4 月 24 日召开第七届董事会第十四次会议，并于 2024 年 5 月 17 日召开 2023 年度股东大会，审议通过了《关于公司及子公司 2024 年度对外担保额度预计的 议案》，同意公司为子公司提供担保额度总计不超过 15 亿元人民币，并授权公 司董事长全权代表公司签署上述担保额度内的各项法律文件，授权期限自公司 2023 年度股东大会批准之日起至 2024 年度股东大会召开之日止。具体内容详见 刊登于《证券时报》《上海证券报》及巨潮资讯网（www.cninfo.com.cn）的《关 于公司及子公司 2024 年度对外担保额度预计的公告》。 （二）担保进展情况 近日，公司与宁波余姚农村商业银行股份有限公司（ ...

Summary of Rare Earth Industry Research Conference Call Industry Overview - The report focuses on the rare earth industry chain, highlighting the geopolitical competition and supply chain dynamics between China, the US, and Europe [1][8] - Rare earth elements are critical in high-tech fields such as renewable energy, military, and electronics, with China controlling approximately 70% of global production and 90% of refining capacity [8][23] Key Points Global Supply Chain Dynamics - The US and Western countries are pushing for "de-China" strategies regarding rare earths, viewing it as a national security issue [8] - Policies are being implemented to explore domestic rare earth resources and establish refining capacities in countries like the US, Australia, and Canada [8][29] - The geopolitical tensions have highlighted the strategic value of rare earth resources in reshaping global power dynamics [8] China's Dominance in Rare Earths - China holds the largest rare earth reserves globally, with 44 million tons, accounting for about 48% of total global reserves [19][21] - In 2024, China's rare earth production is projected to reach 270,000 tons, representing 69% of global output [22][23] - The country has a complete rare earth industry chain, from mining to functional materials processing, maintaining a significant competitive advantage [23] Market Size and Growth - The rare earth industry in China had an estimated output value of approximately 900 billion yuan in 2018, with functional materials accounting for 56% of this value [41] - The revenue for China's rare earth refining and separation industry is expected to exceed 45 billion yuan in 2023 [42] - The market for rare earth functional materials has been growing rapidly, with a compound annual growth rate (CAGR) of 34.40% from 2017 to 2022 [43] Supply Chain Management and Regulations - China has implemented strict controls on rare earth mining and refining, with total production quotas set annually [30][35] - The establishment of the China Rare Earth Group in 2021 consolidated the industry, enhancing resource management and operational efficiency [32][33] Future Trends - The demand for rare earth materials is expected to grow significantly in high-tech applications, particularly in electric vehicles, wind power, and robotics [54][55] - The global market for rare earth permanent magnets is projected to continue expanding, with China maintaining a dominant position [51] Additional Insights - The integration of rare earth resources into national strategic reserves is becoming a priority for many countries, reflecting the increasing importance of these materials in global supply chains [8][29] - The ongoing geopolitical tensions and supply chain diversification efforts may lead to a restructuring of the global rare earth market, impacting pricing and availability [29][35]

Core Viewpoint - In 2024, Huahong Technology experienced a significant decline in revenue and incurred a net loss, but showed signs of recovery in Q1 2025 with a return to profitability driven by improved market conditions and operational efficiency [1][2]. Group 1: Financial Performance - In 2024, Huahong Technology achieved operating revenue of 5.576 billion yuan, a year-on-year decrease of 18.96%, and a net profit attributable to shareholders of -356 million yuan [1]. - In Q1 2025, the company reported operating revenue of 1.436 billion yuan, a year-on-year increase of 18.76%, and a net profit of 31.13 million yuan, marking a return to profitability [1]. - The impairment of goodwill related to the acquisition of Jiangsu Weierman amounted to 334 million yuan, which significantly impacted the 2024 net profit [1]. Group 2: Business Segments - Huahong Technology's main business segments include recycling resource equipment and operations, high-end manufacturing of elevator components, comprehensive utilization of rare earth resources, and rare earth magnetic materials [1]. - The comprehensive utilization of rare earth resources and magnetic materials sales accounted for over 60% of the company's total revenue [1]. - In 2024, revenue from rare earth resource utilization was 2.486 billion yuan, representing 44.58% of total revenue, while magnetic materials sales generated 1.335 billion yuan, accounting for 23.93% of total revenue, with a year-on-year growth of 142.67% [2]. Group 3: Market Trends and Future Outlook - The company has increased investment in rare earth resource utilization and magnetic materials, benefiting from the growing demand in sectors such as new energy vehicles, industrial automation, and energy-saving appliances [2]. - Current production capacity for recycled rare earth oxides is 12,000 tons per year, and for magnetic materials, it is 15,000 tons per year [2]. - The company aims to enhance product competitiveness through technological innovation, cost reduction, and production efficiency improvements [2][3].

Group 1: Company Overview and Strategy - Huahong Technology has transformed from a manufacturer of recycling equipment to a resource operator in the circular economy sector, focusing on the dismantling of scrapped vehicles and recycling of various materials [2][3] - The company has established a circular economy industrial chain, with a significant focus on the recycling of waste steel, old magnetic materials, and rare earth recovery [2][3] Group 2: Financial Performance and Challenges - In 2024, the company reported a net profit loss of 356 million yuan, primarily due to a goodwill impairment provision of 334 million yuan related to the acquisition of Jiangsu Weierman [3][4] - Excluding the impact of the goodwill impairment, the company's operating performance showed a significant reduction in losses compared to 2023 [3][4] Group 3: Production Capacity and Market Position - The current production capacity for rare earth magnetic materials is 15,000 tons per year, with a rare earth oxide production capacity of 12,000 tons per year, positioning the company as a leader in the industry [3][4] - Sales from the rare earth resource utilization and magnetic materials segments account for over 60% of the company's total sales, indicating their critical role in revenue generation [3][4] Group 4: Future Outlook and Industry Trends - The company plans to enhance its gross margin through technological innovation, cost reduction, and production efficiency improvements [3][4] - The demand for rare earth products is expected to grow due to the rapid development of industries such as electric vehicles, industrial automation, and energy-efficient appliances [3][4] Group 5: Regulatory Environment and Compliance - The company does not engage in the export of rare earth technology, which is subject to strict regulations, and primarily sells its rare earth oxide products domestically [4] - The impact of China's export controls on rare earths is minimal for the company, as its export sales ratio is relatively low [4]

申万宏源证券承销保荐有限责任公司 关于江苏华宏科技股份有限公司 二、现场检查发现的问题及说明 注 1：公司募集资金使用与已披露情况一致，公司募投项目"大型智能化再生金 属原料处理装备扩能项目"的实施期限存在延期情况，公司已于 2024 年 4 月 26 日、 2024 年 7 月 25 日分别发布公告对该募投项目延期情况进行披露。 注 2：根据华宏科技披露的 2024 年年度报告，公司 2024 年实现归属于上市公司股 东的净利润-3.56 亿元，较去年同期减少 123.89%，主要系公司对收购江苏威尔曼科技 有限公司股权形成的商誉进行减值测试，根据企业会计准则的相关规定，结合对威尔 曼未来经营情况及盈利水平的预测，2024 年度公司对商誉计提减值准备 3.34 亿元。剔 除计提商誉减值准备影响，公司 2024 年度经营业绩较 2023 年已实现大幅减亏。年度 内，国内主要稀土产品的市场价格止跌企稳，公司稀土资源综合利用业务经营发展势 头良好，板块业绩实现扭亏为盈。保荐机构持续关注公司业务发展情况和财务状况， 已提请公司关注行业政策及市场波动对公司业务的影响，要求公司积极做好经营应对 和风险防范措施，强化经营 ...

申万宏源证券承销保荐有限责任公司 关于江苏华宏科技股份有限公司公开发行可转换公司债券之 保荐工作总结报告书 申万宏源证券承销保荐有限责任公司（以下简称"申万宏源承销保荐"、"保 荐机构"）作为江苏华宏科技股份有限公司（以下简称"华宏科技"、"公司"） 公开发行可转换公司债券的保荐机构，持续督导期间为 2023 年 1 月 10 日至 2024 年 12 月 31 日。华宏科技于 2025 年 4 月 25 日披露《2024 年年度报告》，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 1 号——主板上市公司规范运作》等相关 法律法规文件要求，申万宏源承销保荐现出具保荐工作总结报告书，具体内容如 下： 一、保荐机构及保荐代表人承诺 1、保荐工作总结报告书和证明文件及其相关资料的内容不存在虚假记载、 误导性陈述或重大遗漏，保荐机构及保荐代表人对其真实性、准确性、完整性承 担法律责任。 2、本保荐机构及本人自愿接受中国证监会对保荐工作总结报告书相关事项 进行的任何质询和调查。 3、本保荐机构及本人自愿接受中国证监会按照《证券发行上市保荐业务管 理办法 ...