联合〔2025〕7652 号 联合资信评估股份有限公司 关于终止广东华锋新能源科技股份有限公司主体及"华锋转债"信用评 级的公告 受广东华锋新能源科技股份有限公司（以下简称"公司"）委托，联合资信评估股份有限公司 （以下简称"联合资信"）对公司主体及"华锋转债"进行了信用评级；根据最新的评级结果，公 司主体长期信用等级为 A-，"华锋转债"信用等级为 A-，评级展望为稳定。 根据公司于 2025 年 7 月 30 日披露的《关于"华锋转债"赎回结果的公告》，自 2025 年 6 月 9 日至 2025 年 6 月 27 日，公司股票价格已有十五个交易日的收盘价格不低于"华锋转债"当期转股 价格（8.70 元/股）的 130%，即 11.31 元/股。根据《募集说明书》的约定，已触发"华锋转债"有 条件赎回条款。2025 年 6 月 27 日，公司召开第六届董事会第二十二次会议，审议通过了《关于提 前赎回"华锋转债"的议案》，决定行使赎回权。截至赎回登记日（2025 年 7 月 21 日）收市后， "华锋转债"尚有 4,181 张未转股，本次赎回"华锋转债"的数量为 4,181 张，赎回价格为 101.764 ...

Summary of Key Points Core Viewpoint The announcement details the redemption of "HuaFeng Convertible Bonds" (华锋转债) by Guangdong HuaFeng New Energy Technology Co., Ltd., including the conditions for redemption, the redemption price, and the subsequent delisting of the bonds from the Shenzhen Stock Exchange. Group 1: Convertible Bond Issuance and Listing - The company issued 3.524 million convertible bonds with a total value of 352.40 million yuan, each with a face value of 100 yuan, approved by the China Securities Regulatory Commission on December 4, 2019 [2][22]. - The bonds were listed on the Shenzhen Stock Exchange on January 6, 2020, under the name "HuaFeng Convertible Bonds" with the code "128082.SZ" [3][25]. - The conversion period for the bonds is from June 10, 2020, to December 3, 2025 [4][25]. Group 2: Conversion Price Adjustments - The initial conversion price was set at 13.17 yuan per share, which was adjusted to 13.09 yuan on May 29, 2020, and further reduced to 11.71 yuan on July 2, 2020 [5][26]. - Subsequent adjustments brought the conversion price down to 9.13 yuan on March 23, 2021, and finally to 8.70 yuan on July 10, 2024 [6][7][26]. Group 3: Redemption Conditions and Implementation - The redemption was triggered as the stock price exceeded 130% of the current conversion price (11.31 yuan) for at least 15 trading days between June 9 and June 27, 2025 [7][27]. - The board approved the early redemption of the bonds on June 27, 2025, allowing for the redemption of all unconverted bonds at their face value plus accrued interest [7][27]. Group 4: Redemption Price and Payment - The redemption price is set at 101.764 yuan per bond, which includes accrued interest calculated based on a 2.80% annual interest rate [10][30]. - A total of 4,181 bonds will be redeemed, amounting to a total payment of 425,475.13 yuan, excluding redemption fees [16][35]. Group 5: Delisting and Share Capital Structure - Following the redemption, the bonds will be delisted from the Shenzhen Stock Exchange on July 30, 2025 [18][36]. - The total share capital increased by 39,420,343 shares due to the conversion of bonds, which may dilute earnings per share in the short term [17][19].

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。 特别提示： 一、"华锋转债"基本情况 （一）可转债发行情况 经中国证券监督管理委员会"证监许可【2019】1945 号"核准，公司于 2019 年 12 月 4 日公开发行了 352.40 万张可转换公司债券，每张面值 100 元，发行总 额 35,240.00 万元。发行方式采用向原股东优先配售，原股东优先配售后余额 （含原股东放弃优先配售部分）通过深圳证券交易所（以下简称"深交所"）交 易系统网上向社会公众投资者发行，认购金额不足 35,240.00 万元的部分由主承 销商余额包销。 | 证券代码：002806 | 证券简称：华锋股份 | 公告编号：2025-055 | | --- | --- | --- | | 债券代码：128082 | 债券简称：华锋转债 | | 广东华锋新能源科技股份有限公司 关于"华锋转债"摘牌的公告 （二）可转债上市情况 经深交所"深证上[2020]2 号"文同意，公司 35,240.00 万元可转换公司债 券于 2020 年 1 月 6 日起在深交所挂牌交易，债券简称"华锋转债" ...

| 证券代码：002806 | 证券简称：华锋股份 公告编号：2025-054 | | --- | --- | | 债券代码：128082 | 债券简称：华锋转债 | 广东华锋新能源科技股份有限公司 关于"华锋转债"赎回结果的公告 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。 一、"华锋转债"基本情况 （一）可转债发行情况 "华锋转债"的转股期限为 2020 年 6 月 10 日至 2025 年 12 月 3 日。 （四）可转债转股价格调整情况 （二）可转债上市情况 经深交所"深证上[2020]2 号"文同意，公司 35,240.00 万元可转换公司债 券于 2020 年 1 月 6 日起在深交所挂牌交易，债券简称"华锋转债"，债券代码 "128082.SZ"。 （三）可转债的转股期限 1、根据相关法律法规的规定及《广东华锋新能源科技股份有限公司公开发 1 行可转换公司债券募集说明书》（以下简称"《募集说明书》"）的约定，公司 本次发行的"华锋转债"自 2020 年 6 月 10 日起可转换为公司股份。初始转股价 格为 13.17 元/股。 经中国证券监督管 ...

Investment Rating - The industry investment rating is maintained at "Overweight" [6][11]. Core Insights - The report highlights a seasonal increase in inventory and slight fluctuations in the prices of base metals, with a focus on the ongoing macroeconomic environment and its impact on supply and demand dynamics [6][11]. - The report suggests that the long-term supply-demand structure is being reshaped, indicating limited downside potential for base metal prices and encouraging investors to seek new entry points, particularly for rigid supply varieties like aluminum and copper [6][11]. Summary by Sections Market Overview - The report notes that the domestic industrial metal prices have shown slight fluctuations, with the non-ferrous metal index outperforming the market. The weekly price changes for LME copper, aluminum, lead, and zinc were 0.0%, -0.3%, 0.4%, and 0.2%, respectively, while SHFE prices were 1.1%, 1.2%, 0.8%, and 2.6% [6][20][21]. Macroeconomic Factors - The report tracks three macroeconomic factors: 1. China's June export value increased by 6% year-on-year, with total exports amounting to $325.2 billion [6][27]. 2. U.S. inflation showed an uptick, with the June CPI rising by 2.7% year-on-year [6][33]. 3. The European economic sentiment index continued to rise, with the Eurozone manufacturing PMI at 49.5 [6][36]. Base Metals Analysis - For electrolytic aluminum, the macro environment remains strong, but market sentiment has cooled, leading to a price retreat. The operating capacity of the electrolytic aluminum industry increased by 10,000 tons, reaching 43.975 million tons, with production at 843,400 tons, a slight increase of 0.02% [6][40][41]. - The report indicates that the aluminum processing sector's operating rate decreased by 0.1%, averaging 58.7% as of July 24, 2025 [6][43]. - In terms of inventory, domestic aluminum ingot inventory rose by 36,000 tons to 577,000 tons, while global inventory increased by 42,300 tons to 1.2921 million tons [6][43][44]. Profitability Metrics - The report states that the immediate profit per ton for the aluminum industry remains above 3,500 yuan, with the current spot aluminum price at 20,800 yuan per ton, reflecting a 0.19% increase [6][43].

Core Insights - The main business of the company includes research, production, sales, and technical services of electric control and drive systems for new energy vehicles, as well as the development and production of electrode foils [2] - The revenue structure shows that the electric control and drive systems for new energy vehicles account for the highest proportion at 52.26%, followed closely by electrode foils at 47.73% [2] - The company achieved a net profit attributable to shareholders of 0.85 billion yuan in the latest complete fiscal year 2024, representing a cumulative growth of 225.46% since its listing in 2016 [2] - The company has experienced three years of losses since its listing, with five years of profit, indicating a profit rate of 55.56% [2] Revenue Analysis - In 2020, the company reported a revenue of 4.40 billion yuan, which increased to 10.31 billion yuan by 2024 [3] - The revenue growth rate reached 43.3% in 2024, despite fluctuations in the intervening years [3] Profit Analysis - The company recorded a net profit attributable to shareholders of -3.05 billion yuan in 2020, recovering to 0.85 billion yuan in 2024 [4] - This indicates significant volatility in profitability, transitioning from deep losses to profitability over the years [4] Market Capitalization - Since its listing, the company's market capitalization has increased by 2.50 times [6] - The peak market capitalization reached 67.65 billion yuan on May 22, 2018, with a corresponding stock price of 49.34 yuan [6] - As of July 25, the stock price was 12.17 yuan, with a market capitalization of 25.00 billion yuan, reflecting a decrease of 42.65 billion yuan from its peak, equating to a 63.05% market value evaporation [6]

| 证券代码：002806 | 证券简称：华锋股份 | 公告编号：2025-053 | | --- | --- | --- | | 债券代码：128082 | 债券简称：华锋转债 | | 广东华锋新能源科技股份有限公司 关于"华锋转债"即将停止转股暨赎回前最后半个交易日的 重要提示性公告 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。 重要内容提示： 1、最后转股日：2025 年 7 月 21 日 截止本公告披露日，距离"华锋转债"停止转股仅剩最后半个交易日（即 2025 年 7 月 21 日下午交易时段），2025 年 7 月 21 日收市后，未转股的"华锋转债" 将停止转股，剩余可转债将按照 101.764 元/张的价格被强制赎回。若被强制赎 回，投资者可能面临损失。 2、如投资者未及时转股，可能面临损失。敬请投资者仔细阅读本公告内容， 关注相关风险。 特别提示： 1、"华锋转债"赎回价格：101.764 元/张（含当期应计利息，当期年利率 为 2.8%，且当期利息含税），扣税后的赎回价格以中国证券登记结算有限责任公 司深圳分公司（以下简称"中登公司"）核 ...

Group 1 - The company held its 23rd meeting of the 6th Board of Directors on July 11, 2025, with all 9 directors present, and the meeting complied with relevant laws and regulations [1] - The Board approved the proposal to reappoint Rongcheng Accounting Firm as the financial and internal control audit institution for the year 2025, with an audit service fee of 1.1 million yuan, including 900,000 yuan for the financial report audit and 200,000 yuan for internal control audit [1][2] - The Board approved the appointment of Mr. Li Shengyu as the Chief Financial Officer, effective immediately, with Mr. Zhao Baoguo no longer acting in this role [2] - The Board proposed to hold the first extraordinary general meeting of shareholders on August 5, 2025, to review matters related to this Board meeting [3]

| 证券代码：002806 | 证券简称：华锋股份 | 公告编号：2025-047 | | --- | --- | --- | | 债券代码：128082 | 债券简称：华锋转债 | | 广东华锋新能源科技股份有限公司 关于"华锋转债"即将停止转股暨赎回前最后一个交易日的 重要提示性公告 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。 重要内容提示： 1、最后转股日：2025 年 7 月 21 日 因"华锋转债"已停止交易，本公司特提醒投资者在期限内转股。2025 年 7 月 21 日是"华锋转债"最后一个转股日，当日收市前，持有"华锋转债"的投 资者仍可进行转股；2025 年 7 月 21 日收市后，未转股的"华锋转债"将停止转 股。 2、截至 2025 年 7 月 18 日收市后，距离"华锋转债"停止转股并赎回仅剩 1 个交易日。如投资者未及时转股，可能面临损失。敬请投资者仔细阅读本公告 内容，关注相关风险。 特别提示： 1、"华锋转债"赎回价格：101.764 元/张（含当期应计利息，当期年利率 为 2.8%，且当期利息含税），扣税后的赎回价格以中国证券 ...

广东华锋新能源科技股份有限公司（以下简称"公司"）于 2025 年 7 月 18 日分别召开第六届董事会第二十三次会议、第六届监事会第十三次会议，审议 通过了《关于拟续聘会计师事务所的议案》。同意公司聘任容诚会计师事务所 （特殊普通合伙）（以下简称"容诚会计师事务所"）为公司 2025 年度财务及内 部控制审计机构，聘期一年。该事项尚需提交公司 2025 年第一次临时股东大会 审议。现就相关情况公告如下： 一、拟续聘会计师事务所的基本情况 （一）机构信息 1、基本信息 容诚会计师事务所（特殊普通合伙）由原华普天健会计师事务所（特殊普 通合伙）更名而来，初始成立于 1988 年 8 月，2013 年 12 月 10 日改制为特殊普 通合伙企业，是国内最早获准从事证券服务业务的会计师事务所之一，长期从 事证券服务业务。注册地址为北京市西城区阜成门外大街 22 号 1 幢 10 层 1001- 1 至 1001-26，首席合伙人刘维。 | 证券代码：002806 | 证券简称：华锋股份 | 公告编号：2025-050 | | --- | --- | --- | | 债券代码：128082 | 债券简称：华锋转债 | ...