北京市齐致（济南）律师事务所 关于山东赫达集团股份有限公司 2023 年度股东大会的法律意见书 京齐济法意字[2024]第 30503 号 北京市齐致（济南）律师事务所 BEIJING QIZHI （JINAN） LAW FIRM 济南市市中区顺河东街 66 号银座晶都国际 1 号楼 3405 室 邮编：250011 电话：0531-66683939 传真：0531-66683939 北京市齐致（济南）律师事务所 法律意见书 北京市齐致（济南）律师事务所 关于山东赫达集团股份有限公司 2023年度股东大会的法律意见书 致：山东赫达集团股份有限公司 北京市齐致（济南）律师事务所（以下简称"本所"）接受贵公司的委托， 指派李莹律师、刘福庆律师（以下称"本所律师"）出席了贵公司2023年度股东大 会（以下简称"本次股东大会"或"会议"），并根据《中华人民共和国公司法》 （以下简称"《公司法》"）《上市公司股东大会规则》及《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》等法律、法规、规章、规范性 文件以及《山东赫达集团股份有限公司章程》（以下简称"《公司章程》"）的规定， 出具本法律意见书。 本 ...

证券代码：002810 证券简称：山东赫达 公告编号：2024-034 山东赫达集团股份有限公司 关于 2023 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、准确和完整， 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议案的情形。 2、本次股东大会没有新议案提交表决。 债券代码：127088 债券简称：赫达转债 3、本次股东大会无变更以往股东大会决议的情况。 一、会议的召开和出席情况 （一）会议的召开情况 1、会议召开时间： （1）现场会议召开时间：2024 年 5 月 20 日（星期一）下午 14:30 （2）网络投票时间：2024 年 5 月 20 日（星期一） 其中，通过深圳证券交易所交易系统进行网络投票的具体时间为： 2024 年 5 月 20 日上午 9:15-9:25，9:30-11:30 和下午 13:00-15:00；通 过深圳证券交易所互联网投票系统投票的具体时间为：2024 年 5 月 20 日 9:15-15:00 期间的任意时间。 2、会议召开地点：山东省淄博市周村区赫达路 999 号公司会议 室。 3、会议召开方式：现场投票与网 ...

招商证券股份有限公司 | 1.是否在募集资金到位后一个月内签订三方监管协议 | √ | | --- | --- | | 2.募集资金三方监管协议是否有效执行 | √ | | 3.募集资金是否不存在第三方占用或违规进行委托理财等情形 | √ | | 4.是否不存在未履行审议程序擅自变更募集资金用途、暂时补 | √ | | 充流动资金、置换预先投入、改变实施地点等情形 | | | 5.使用闲置募集资金暂时补充流动资金、将募集资金投向变更 为永久性补充流动资金或者使用超募资金补充流动资金或者偿 | √ | | 还银行贷款的，公司是否未在承诺期间进行高风险投资 | | | 6.募集资金使用与已披露情况是否一致，项目进度、投资效益 | √ | | 是否与招股说明书等相符 | | | 7.募集资金项目实施过程中是否不存在重大风险 | √ | | （六）业绩情况 | | | 现场检查手段：查阅公司披露的定期报告；查阅同行业上市公司的定期报告并进行对 | | | 比分析；访谈公司财务管理人员，了解公司财务状况。 | | | 1.业绩是否存在大幅波动的情况 | √ | | 2.业绩大幅波动是否存在合理解释 | √ | | 3. ...

招商证券股份有限公司 关于山东赫达集团股份有限公司 2023 年度持续督导培训情况报告 招商证券股份有限公司（以下简称"招商证券"或"保荐人"）作为山东赫 达集团股份有限公司（以下简称"山东赫达"或"公司"向不特定对象发行可转 换公司债券的保荐人，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（2023 年修订）》《深圳证券交易所上市公司自律监管指引第 13 号——保荐业务》等有关规定，于 2024 年 4 月 26 日对山东赫达全体董事、监 事、高级管理人员等相关人员等进行了持续督导培训。培训工作情况报告如下： 一、 持续督导培训的基本情况 1、保荐人：招商证券股份有限公司 2、保荐代表人：葛麒、罗磊 3、培训时间：2024 年 4 月 26 日 4、培训地点：山东赫达 5 楼会议室 5、培训对象：全体董事、监事、高级管理人员等相关人员 二、 持续督导培训的主要内容 本次培训详细介绍了《国务院关于加强监管防范风险推动资本市场高质量发 展的若干意见》（以下简称"国九条"）及中国证监会制定的《关于加强上市公司 监管的意见（试行）》等相关配套政策，重点围绕加强市值管理、严格规范减持、 强化分红 ...

招商证券股份有限公司 | （1）列席公司股东大会次数 | 0 | | --- | --- | | （2）列席公司董事会次数 | 1（均事前或事后审阅会议议案） | | （3）列席公司监事会次数 | 0（均事前或事后审阅会议议案） | | 5.现场检查情况 | | | （1）现场检查次数 | 1 | | （2）现场检查报告是否按照本所规定报送 | 是 | | （3）现场检查发现的主要问题及整改情况 | 不适用 | | 6.发表独立意见情况 | | | （1）发表独立意见次数 | 7 | | （2）发表非同意意见所涉问题及结论意见 | 0 | | 7.向本所报告情况（现场检查报告除外） | | | （1）向本所报告的次数 | 0 | | （2）报告事项的主要内容 | 不适用 | | （3）报告事项的进展或者整改情况 | 不适用 | | 8．关注职责的履行情况 | | | （1）是否存在需要关注的事项 | 否 | | （2）关注事项的主要内容 | 不适用 | | （3）关注事项的进展或者整改情况 | 不适用 | | 9.保荐业务工作底稿记录、保管是否合规 | 是 | | 10.对上市公司培训情况 | | | （1） ...

Investment Rating - The report maintains an "Outperform" rating for the company [6] Core Views - The company reported a revenue of 1.556 billion yuan in 2023, a year-on-year decrease of 9.7%, and a net profit attributable to shareholders of 220 million yuan, down 37.76% year-on-year [6] - In Q1 2024, the company achieved a revenue of 435 million yuan, representing a year-on-year increase of 16.1%, and a net profit of approximately 53.6 million yuan, down 26.4% year-on-year but showing a quarter-on-quarter recovery [6] - The cellulose ether sales volume increased steadily, while prices declined due to domestic demand and raw material costs [6] - The plant capsule sales volume reached a record high in Q1 2024, driven by recovering consumer demand [6] Summary by Sections Financial Performance - In 2023, the company’s cellulose ether production and sales volumes were approximately 46,000 tons (up 26.3% YoY) and 40,400 tons (up 16.6% YoY) respectively, with revenue from cellulose ether declining by 2.6% to 11.275 billion yuan [6] - The gross margin for cellulose ether fell by 5.02 percentage points to 25.52% due to increased depreciation costs from new capacity and lower product prices [6] - The company’s net profit margin decreased by 6.38 percentage points to 14.15% in 2023 [6] Product Insights - The plant capsule sales volume in 2023 was approximately 13.13 billion capsules (down 15.6% YoY) with revenue of about 246 million yuan (down 10.9% YoY) [6] - The gross margin for plant capsules improved by approximately 0.8 percentage points to 55% due to lower costs [6] Future Outlook - The company has adjusted its profit forecasts for 2024-2025, now expecting net profits of approximately 309 million yuan and 385 million yuan respectively, with a new forecast for 2026 at 489 million yuan [6] - The company is expanding its product line with the acquisition of hydroxyethyl cellulose and expects significant growth in plant capsule sales in 2024 [6]

Investment Rating - The report maintains a "Buy" rating for the company [3][12]. Core Views - The company's performance in 2023 was impacted by depreciation and amortization from new facilities, but there are signs of improvement in Q1 2024 [12][34]. - The company is actively adjusting its product and market structure in response to industry supply-demand imbalances and overcapacity [1][34]. - The successful registration of high-end pharmaceutical coating products and the second-generation pure gelatin capsules is expected to enhance the company's market position [1][34]. Financial Performance Summary - In 2023, the company achieved revenue of 1.56 billion yuan, a decrease of 9.7% year-on-year, and a net profit attributable to shareholders of 220 million yuan, down 37.8% year-on-year [3][46]. - The gross profit margin for 2023 was 29.3%, a decline of 4.9 percentage points year-on-year, while the net profit margin was 14.2%, down 6.4 percentage points year-on-year [3][46]. - In Q4 2023, the company reported revenue of 380 million yuan, a year-on-year decrease of 3.5% and a quarter-on-quarter decrease of 11.8% [3][4]. - In Q1 2024, the company recorded revenue of 435 million yuan, an increase of 16.1% year-on-year and 15.3% quarter-on-quarter, with a net profit of 54 million yuan [4][13]. Product Segment Performance - The cellulose ether segment generated revenue of 1.13 billion yuan in 2023, a slight decline of 2.5% year-on-year, with a sales volume of 40,353 tons, up 17% year-on-year [46]. - The plant capsule segment reported revenue of 250 million yuan, down 10.9% year-on-year, with a sales volume of 11 billion capsules, down 8% year-on-year [46]. - The company has a cellulose ether and plant capsule integrated advantage, which is expected to improve capacity utilization as industry demand recovers [1][34]. Capacity and Investment - As of the end of 2023, the company had a cellulose ether production capacity of 69,000 tons, with an additional 5,000 tons under construction and 11,000 tons planned but not yet built [1][34]. - The company has made strategic acquisitions, such as the purchase of Zhongfu Heda, to expand its product matrix, particularly in hydroxyethyl cellulose (HEC) [1][34].

债券代码：127088 债券简称：赫达转债 证券代码：002810 股票简称：山东赫达 公告编号：2024-032 其中，通过深圳证券交易所交易系统进行网络投票的具体时间为 2024 年 5 月 20 日上午 9:15-9:25，9:30-11:30 和下午 13:00-15:00；通 过深圳证券交易所互联网投票系统进行网络投票的具体时间为 2024 年 5 月 20 日 9:15-15:00 的任意时间。 山东赫达集团股份有限公司 关于召开 2023 年度股东大会的通知 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。 山东赫达集团股份有限公司（以下简称"公司"）第九届董事会 第九次会议决定于 2024 年 5 月 20 日召开公司 2023 年度股东大会。 现将本次股东大会的有关事项通知如下： 一、召开会议基本情况 1、股东大会届次：2023 年度股东大会 2、股东大会召集人：公司第九届董事会 3、会议召开的合法、合规性：本次股东大会会议召开符合有关 法律、行政法规、部门规章、规范性文件和《公司章程》的有关规定。 4、会议召开时间： ①现场会议召开时间：20 ...

Financial Performance - The company's operating revenue for 2023 was ¥1,556,225,490, a decrease of 9.70% compared to ¥1,723,483,310 in 2022[21]. - Net profit attributable to shareholders for 2023 was ¥220,209,397, representing a decline of 37.76% from ¥353,798,901 in 2022[21]. - The net cash flow from operating activities decreased by 40.06% to ¥179,737,827 in 2023 from ¥299,855,198 in 2022[21]. - Basic earnings per share for 2023 were ¥0.64, down 38.46% from ¥1.04 in 2022[21]. - Total assets increased by 13.85% to ¥3,792,527,550 in 2023 from ¥3,331,342,690 in 2022[22]. - Net assets attributable to shareholders rose by 11.33% to ¥2,094,899,070 in 2023 from ¥1,881,733,080 in 2022[22]. - The company reported a quarterly revenue of ¥428,101,052 in Q3 2023, with a net profit of ¥72,621,029[28]. - The company experienced a net loss of ¥9,320,819 in Q4 2023, contrasting with positive net profits in the previous quarters[28]. - The weighted average return on net assets decreased to 11.17% in 2023 from 20.65% in 2022, a decline of 9.48%[21]. - The company reported a total revenue of 32.636 billion in 2023, showing a decrease from 39.270 billion in the previous year, representing a decline of approximately 17.5%[171]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 2 RMB per 10 shares to all shareholders, based on a total of 341,699,040 shares[3]. - The company has a clear policy for cash dividends, requiring positive distributable profits and a debt-to-asset ratio not exceeding 50%[200]. - The company aims to distribute at least 10% of the annual distributable profit in cash, with a cumulative distribution of at least 30% of the average annual distributable profit over the last three years[200]. Risks and Uncertainties - The company reported no significant risks that could materially affect its operations during the reporting period[3]. - The company emphasizes the importance of understanding the uncertainties associated with future plans and performance forecasts due to market conditions[3]. - The company has not experienced any major safety incidents but acknowledges risks associated with the expansion of production scale and the potential for safety accidents[149]. - The company has maintained a stable ratio of accounts receivable to total assets at around 10%, but faces risks related to the recovery of these receivables due to potential changes in the macroeconomic environment[151]. Market and Industry Insights - The cellulose ether industry is characterized by a wide range of applications, including construction materials, pharmaceuticals, and food additives[34]. - The market for cellulose ether is expected to grow due to its environmentally friendly properties and efficiency in resource utilization[36]. - The domestic pharmaceutical market reached a scale of CNY 181.76 billion in 2021, with a compound annual growth rate of 6.17% from CNY 143.04 billion in 2017, projected to reach CNY 228.73 billion by 2025[47]. - The global market for plant-based capsules was approximately USD 1.184 billion in 2020, projected to reach USD 1.585 billion by 2026, indicating significant growth potential for pharmaceutical-grade HPMC[50]. - The demand for construction-grade cellulose ether is expected to increase due to the growing use of premixed mortar, which offers better quality stability and environmental benefits compared to traditional site-mixed mortar[44]. Research and Development - The company launched 7 R&D projects in 2023, including the globally innovative "hydroxypropyl methylcellulose plant capsule development" which enhances product competitiveness[84]. - Research and development (R&D) investment amounted to ¥66,646,918.86, a decrease of 1.67% compared to ¥67,779,945.44 in 2022, while the R&D investment as a percentage of operating revenue increased to 4.28% from 3.93%[115]. - The number of R&D personnel increased to 246 in 2023, up 7.89% from 228 in 2022, with the proportion of R&D personnel rising to 13.74% from 13.47%[114]. - The company has successfully completed the development of a cellulose ether with high suspension stability, which is expected to significantly improve product performance and reduce customer costs, leading to considerable economic benefits[109]. Environmental and Sustainability Initiatives - The company has invested nearly 200 million RMB in environmental protection projects, significantly reducing fossil energy and water resource consumption[74]. - The company has established a sustainable development committee with carbon peak and neutrality goals set for 2030 and 2050, respectively[89]. - The company is committed to environmental protection and has invested in facilities to minimize its environmental impact, but may face increased costs due to stricter future regulations[147]. Corporate Governance - The company has established a complete and independent business system, ensuring operational independence from the controlling shareholder[161]. - The board of directors consists of 7 members, including 3 independent directors, complying with relevant legal requirements[157]. - The company maintains a strict internal audit system to oversee financial operations and prevent internal control risks[159]. - The company has a robust governance structure, adhering to laws and regulations, ensuring equal rights for all shareholders[156]. Strategic Initiatives and Future Outlook - The company aims to enhance its core competitiveness through technology innovation and cost reduction measures in 2024[145]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its product offerings[171]. - The company plans to enhance internal management and increase technological investment to capture international market opportunities[92]. - The company is focusing on expanding its market presence and developing new products, although specific figures and timelines were not disclosed in the report[171].

山东赫达集团股份有限公司 2023 年度独立董事述职报告 李洪武 各位股东及股东代表： 作为山东赫达集团股份有限公司（以下简称"山东赫达"或"公司"）第八 届董事会的独立董事，因本人担任公司独立董事任期届满，经公司 2023 年 5 月 16 日召开的 2022 年度股东大会选举董事会成员组成第九届董事会，本人正式离 任。2023 年 1-5 月，本人严格按照《公司法》《证券法》《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、规范性文件 及《山东赫达集团股份有限公司章程》（以下简称"《公司章程》"）《独立董事工 作制度》之相关规定及要求，保持独立董事独立性，认真履行职务，参加有关会 议，发表独立意见，维护公司整体利益，尤其关注中小股东的合法权益不受损害。 现就 2023 年度本人履职情况汇报如下： 一、独立董事基本情况 李洪武先生，中国国籍，无境外永久居留权，1962 年 9 月出生，硕士研究生 学历，1984 年 7 月至今任山东大学法学院副教授。现任山东明仁福瑞达制药股 份有限公司、菏泽农村商业银行股份有限公司、山东恒嘉高纯铝业科技股份有限 公司独立董事。2017 ...