湖南启元律师事务所 关于湖南白银股份有限公司 2025年第二次临时股东大会的 法律意见书 致：湖南白银股份有限公司 湖南启元律师事务所（以下简称"本所"）接受湖南白银股份有限公司（以 下简称"公司"）的委托，指派本所律师出席了公司 2025 年第二次临时股东大 会（以下简称"本次股东大会"），对本次股东大会的召集和召开程序、出席会 议人员及召集人的资格、表决程序和表决结果的合法有效性进行现场律师见证， 并发表本法律意见。 本所律师根据《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》"）、《上市公司股东会规则》 （以下简称"《股东会规则》"）等我国现行法律、法规、规范性文件以及《湖 南白银股份有限公司章程》（以下简称"《公司章程》"）的有关规定出具本法 律意见书。 本所律师声明如下： （一）本所律师根据本法律意见书出具日以前已经发生或者存在的事实，严 格履行了法定职责，遵循了勤勉尽责和诚实信用原则，进行了充分的核查验证， 保证本法律意见所认定的事实真实、准确、完整，所发表的结论性意见合法、准 确，不存在虚假记载、误导性陈述或者重大遗漏，并承担相应法律责任。 （ ...

Core Insights - The precious metals sector experienced a rise of 1.45% on November 5, with Western Gold leading the gains [1] - The Shanghai Composite Index closed at 3969.25, up 0.23%, while the Shenzhen Component Index closed at 13223.56, up 0.37% [1] Precious Metals Sector Performance - Western Gold (601069) closed at 27.39, with a gain of 3.55% and a trading volume of 252,400 shares, amounting to a transaction value of 682 million yuan [1] - Other notable performers include: - Zhaojin Mining (000506) at 12.19, up 2.87% with a volume of 400,700 shares [1] - Chifeng Jilong Gold Mining (600988) at 29.26, up 2.42% with a volume of 411,000 shares [1] - Hengbang Gold (002237) at 13.12, up 2.10% with a volume of 138,310 shares [1] Capital Flow Analysis - The precious metals sector saw a net outflow of 265 million yuan from institutional investors, while retail investors contributed a net inflow of 297 million yuan [1] - Detailed capital flow for key stocks includes: - Zhaojin Mining with a net outflow of 56.26 million yuan from institutional investors [2] - Western Gold with a net inflow of 23.03 million yuan from institutional investors [2] - Chifeng Jilong Gold with a net outflow of 19.15 million yuan from institutional investors [2]

New Stock Issuance - Multiple new stock issuances are scheduled for November 4, 2025, across various companies, including ST Zhongdi (000609) and Pingtan Development (000592) which reported significant abnormal fluctuations[1] - Jiangbolong (301308) and Xiangnong Xinchuan (300475) are among the companies with recent announcements prior to November 4, 2025[1] Abnormal Fluctuations - Pingtan Development (000592) reported severe abnormal fluctuations on November 4, 2025, indicating potential volatility in its stock performance[1] - Other companies such as ST Panda (600599) and ST Huapeng (603021) also reported abnormal fluctuations on the same date, suggesting a trend of instability in the market[1] Market Trends - The report highlights a growing trend of companies experiencing abnormal stock price movements, which may indicate increased market volatility and investor caution[1] - The presence of multiple companies with abnormal fluctuations could signal a broader market trend that investors should monitor closely[1]

Core Points - The Shanghai Composite Index fell by 0.41% to close at 3960.1860 points, while the Shenzhen Component Index dropped by 1.71% to 13175.221 points as of November 4 [1] Group 1: Top Gainers in Hunan Stocks - Changlan Technology opened at 16.740 and closed at 17.050, gaining 1.85% with a highest price of 17.720 and a lowest of 16.690, trading volume was 52,194 lots [2] - Mengjie Co., Ltd. opened at 4.270 and closed at 4.340, increasing by 1.64% with a highest price of 4.380 and a lowest of 4.260, trading volume was 239,327 lots [2] - Hunan Development opened at 13.100 and closed at 13.190, up by 1.46% with a highest price of 13.360 and a lowest of 13.020, trading volume was 247,072 lots [2] - Hunan Investment opened at 5.710 and closed at 5.780, rising by 1.40% with a highest price of 5.790 and a lowest of 5.660, trading volume was 170,367 lots [2] - Tianqiao Hoisting opened at 4.400 and closed at 4.510, increasing by 1.35% with a highest price of 4.530 and a lowest of 4.390, trading volume was 787,041 lots [2] Group 2: Top Losers in Hunan Stocks - Hengli Retreat opened at 0.160 and closed at 0.150, decreasing by 11.76% with a highest price of 0.170 and a lowest of 0.150, trading volume was 611,606 lots [3] - Qidi Pharmaceutical opened at 12.090 and closed at 11.450, down by 5.61% with a highest price of 12.090 and a lowest of 11.430, trading volume was 145,241 lots [3] - Kaimete Gas opened at 23.830 and closed at 23.340, falling by 4.70% with a highest price of 24.290 and a lowest of 23.130, trading volume was 763,116 lots [3] - Hunan Silver opened at 6.280 and closed at 6.130, declining by 3.46% with a highest price of 6.300 and a lowest of 6.090, trading volume was 991,979 lots [3] - Hunan Gold opened at 20.980 and closed at 20.530, decreasing by 3.16% with a highest price of 21.170 and a lowest of 20.260, trading volume was 473,720 lots [3]

Core Viewpoint - Hunan Silver (002716) announced a share buyback plan, indicating a strategic move to enhance shareholder value and confidence in the company's future performance [1] Summary by Categories Company Actions - The company has implemented a share buyback through centralized bidding, repurchasing a total of 17,550,000 shares [1] - This repurchase represents approximately 0.62% of the company's total share capital, which is 282,308.86 million shares [1]

Market Overview - The precious metals sector declined by 1.09% compared to the previous trading day, with Hunan Gold leading the decline [1] - The Shanghai Composite Index closed at 3976.52, up 0.55%, while the Shenzhen Component Index closed at 13404.06, up 0.19% [1] Individual Stock Performance - The closing prices and performance of key stocks in the precious metals sector are as follows: - Chifeng Jilong Gold: 29.92, +0.44%, volume 435,700, turnover 1.273 billion [1] - Hengbang Shares: 13.27, +0.30%, volume 314,900, turnover 411 million [1] - Sichuan Gold: 27.29, -0.07%, volume 116,600, turnover 314 million [1] - Western Gold: 27.42, -0.29%, volume 173,400, turnover 468 million [1] - Yancheng Technology: 24.45, -0.41%, volume 273,000, turnover 650 million [1] - Shandong Gold: 35.69, -0.97%, volume 457,200, turnover 1.612 billion [1] - Zhaojin Mining: 11.99, -1.07%, volume 373,000, turnover 442 million [1] - Hunan Silver: 6.35, -1.24%, volume 1,079,900, turnover 677 million [1] - Zhongquan Gold: 21.83, -1.53%, volume 778,500, turnover 1.683 billion [1] - Shanshe International: 21.27, -1.94%, volume 380,300, turnover 799 million [1] Fund Flow Analysis - The precious metals sector experienced a net outflow of 546 million from institutional investors, while retail investors saw a net inflow of 642 million [3][4] - The detailed fund flow for individual stocks indicates significant outflows for several companies, including: - Hunan Gold: -35.73 million from institutional investors, with a retail inflow of 33.07 million [4] - Shandong Gold: -42.38 million from institutional investors, with a retail inflow of 62.53 million [4] - Hunan Silver: -81.81 million from institutional investors, with a retail inflow of 81.13 million [4] ETF Performance - The gold stock ETF (product code: 159562) tracks the CSI Hong Kong and Shanghai Gold Industry Stock Index and has seen a 5-day change of +1.13% [6] - The ETF's current price-to-earnings ratio is 23.91, with a recent net outflow of 8.262 million from institutional investors [6]

Core Viewpoint - Hunan Silver (002716.SZ) has conducted a share buyback, purchasing 17,550,000 shares, which represents approximately 0.62% of the company's total share capital [1] Summary by Categories Share Buyback Details - The share buyback was executed through centralized bidding transactions [1] - The highest transaction price was 6.74 CNY per share, while the lowest was 4.47 CNY per share [1] - The total amount spent on the buyback was 92,600,588.30 CNY, excluding transaction fees [1] Compliance and Regulations - The buyback aligns with the company's share repurchase plan and complies with relevant laws and regulations [1]

证券代码：002716 证券简称：湖南白银 公告编号：2025-083 湖南白银股份有限公司 关于回购公司股份的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 湖南白银股份有限公司（以下简称"公司"）于 2025 年 6 月 23 日、7 月 18 日、9 月 4 日及 10 月 16 日，分别召 开了第六届董事会第十二次会议、2025 年第一次临时股东大 会、第六届董事会第十五次会议及第六届董事会第十七次会 议，审议通过了《关于以集中竞价交易方式回购公司股份的 议案》《关于调整公司回购股份价格上限的议案》《关于调 整回购公司股份方案的议案》；同意公司使用自有资金及回 购专项贷款以集中竞价方式回购公司部分已发行的人民币 普通股（A 股）股票用于限制性股票激励计划。本次拟用于 回购的资金总额为不低于人民币 9,260.06 万元（含），不 超过人民币 12,324.06 万元（含），回购价格不超过人民币 8 元/股，回购股份期限为自公司董事会审议通过本次回购股 份方案之日起不超过 12 个月。具体内容详见公司 2025 年 6 月 24 日、2025 ...

Core Viewpoint - The company plans to repurchase shares ranging from 92.60 million to 123.24 million yuan through a centralized bidding process for a restricted stock incentive plan, with a maximum repurchase price of 8 yuan per share and a duration of no more than 12 months [1] Summary by Relevant Sections - **Repurchase Plan**: The company intends to use 92.60 million to 123.24 million yuan for share repurchase, aimed at supporting a restricted stock incentive plan [1] - **Repurchase Price and Duration**: The maximum repurchase price is set at 8 yuan per share, and the repurchase period will not exceed 12 months [1] - **Current Status of Repurchase**: As of October 31, 2025, the company has repurchased 17.55 million shares, accounting for approximately 0.62% of the total share capital, with the highest transaction price at 6.74 yuan per share and the lowest at 4.47 yuan per share, totaling 92.60 million yuan (excluding transaction fees) [1] - **Compliance**: The ongoing repurchase plan is in accordance with relevant regulations and will continue to be disclosed as required [1]

Core Viewpoint - The Hong Kong gold retail brands experienced a significant decline in stock prices, with major players like Lao Pu Gold, Chow Tai Fook, and Luk Fook Group dropping over 7% as of the morning of November 3rd [1][2]. Group 1: Stock Performance - Lao Pu Gold saw a decrease of 7.52%, trading at HKD 633.000 [2] - Chow Tai Fook's stock fell by 7.23%, with a current price of HKD 14.120 [2] - Luk Fook Group's shares dropped by 7.15%, now priced at HKD 23.100 [2] - Chow Sang Sang experienced a decline of 6.89%, trading at HKD 12.970 [2] - In the A-share market, the precious metals sector also faced declines, with Hunan Gold down over 4% [3]. Group 2: Tax Policy Announcement - On November 1st, the Ministry of Finance and the State Administration of Taxation announced a tax policy regarding gold transactions [3]. - The announcement states that members or clients trading standard gold through the Shanghai Gold Exchange or Shanghai Futures Exchange will be exempt from value-added tax when selling standard gold [4]. - For transactions that do not involve physical delivery, the exchange will exempt value-added tax; for those that do involve physical delivery, the applicable value-added tax policy will be followed [4].