二〇二四年十一月 北京市东城区东直门南大街 1 号来福士中心办公楼 12 层 邮编：100007 12th Floor, Raffles City Beijing Offices Tower, No.1 Dongzhimen South Street,Dongcheng District, Beijing 100007 P.R.C. 电话（Tel）: 010-56500900 传真（Fax）: 010-56500999 www.meritsandtree.com 北京植德律师事务所 关于海南钧达新能源科技股份有限公司 2024 年第三次临时股东会的 法律意见书 植德京（会）字[2024]0140号 北京植德律师事务所 关于海南钧达新能源科技股份有限公司 2024 年第三次临时股东会的 法律意见书 植德京（会）字[2024]0140 号 致：海南钧达新能源科技股份有限公司（贵公司） 北京植德律师事务所（以下简称"本所"）接受贵公司的委托，指派律师出席 并见证贵公司 2024 年第三次临时股东会（以下简称"本次会议"）。 本所律师参加本次会议进行见证，并根据《中华人民共和国公司法》（以下简称 "《公司法》"）、《 ...

证券代码：002865 证券简称：钧达股份 公告编号：2024-133 海南钧达新能源科技股份有限公司 关于 2021 年股票期权激励计划预留授予部分 一、本次注销 2021 年股票期权激励计划预留授予部分股票期权的情况说明 股票期权注销完成的公告 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。 鉴于在 2021 年股票期权激励计划预留授予的第一个行权期内，公司共有 2 名激励对象合计 57,889 份期权在可行权期内尚未行权已过时效。公司根据《上 市公司股权激励管理办法》及《2021 年股票期权激励计划（草案）》的有关规定， 对上述 2 名激励对象合计 57,889 份失效期权予以注销。 二、期权注销完成说明 海南钧达新能源科技股份有限公司（以下简称"公司"或"钧达股份"）于 2024 年 10 月 30 日召开第四届董事会第六十九次会议和第四届监事会第五十次 会议，审议通过了《关于注销 2021 年股票期权激励计划预留授予部分股票期权 的议案》，详见 2024 年 10 月 31 日披露于巨潮资讯网的《关于注销 2021 年股票 期权激励计划预留授予部分股 ...

证券代码：002865 证券简称：钧达股份 公告编号：2024-134 海南钧达新能源科技股份有限公司 关于 2022 年股票期权激励计划首次授予部分 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。 海南钧达新能源科技股份有限公司（以下简称"公司"或"钧达股份"）于 2024 年 10 月 14 日召开第四届董事会第六十七次会议和第四届监事会第四十九 次会议，审议通过了《关于注销 2022 年股票期权激励计划首次授予部分股票期 权的议案（更新稿）》，详见 2024 年 10 月 15 日披露于巨潮资讯网的《关于注销 2022 年股票期权激励计划首次授予部分股票期权的公告（更新稿）》（公告编号： 2024-118）。现就有关事项说明如下： 一、本次注销 2022 年股票期权激励计划首次部分股票期权的情况说明 鉴于公司 2022 年股票期权激励计划首次授予部分的激励对象在第二个行权 等待期内，共有 29 名激励对象因个人原因离职，1 名激励对象不符合激励对象 身份要求。根据公司 2022 年股票期权激励计划的相关规定，上述激励对象已不 再具备享受激励的资格，其已获 ...

Summary of the Conference Call Company and Industry Overview - The conference call was held by JunTuan Co., focusing on the photovoltaic (PV) industry and the company's operational status. The call was divided into two parts: an introduction by the Vice Chairman and General Manager, Zheng Hongwei, followed by a Q&A session with investors [1][12]. Industry Insights - **Global PV Demand**: The global demand for photovoltaic energy continues to grow, with the industry maintaining an upward growth trend. PV technology has become the lowest-cost energy production method, rapidly replacing fossil fuels [1][2]. - **Installation Growth**: In China, new PV installations reached approximately 160 GW from January to September, representing a year-on-year growth of 24.8%. Exports of PV components also saw significant increases, with a 30% rise in component exports and a 53% increase in battery exports [2][3]. - **Market Dynamics**: The PV industry is entering a phase of recovery, with a notable demand-supply imbalance emerging. The industry is transitioning from a phase of excess supply to one of demand recovery, with production rates declining significantly [3][4]. - **Price Trends**: Prices across various segments of the PV industry have been declining, indicating a shift towards a recovery phase. The industry is expected to see a rebalancing of supply and demand sooner than previously anticipated [3][4]. Company Performance - **Sales and Revenue**: JunTuan Co. reported revenues of approximately 8.2 billion CNY for the first three quarters, with a net loss of 470 million CNY, primarily due to price declines during the capacity reduction phase [7][8]. - **International Expansion**: The company has significantly increased its overseas sales, with the proportion of international sales rising from 10.69% in 2023 to over 35% in Q3 2023. This indicates substantial progress in expanding its international market presence [8][9]. - **New Projects**: JunTuan has signed agreements for a battery production project in Oman, which is expected to commence construction soon. The project has garnered attention from U.S. clients, indicating strong international interest [9][20]. Strategic Adjustments - **Focus on Specialization**: The company is shifting its strategy towards specialization in PV technology, moving away from previous growth models based on scale and diversification. This transition is expected to enhance competitiveness in a market increasingly driven by technological advancements [6][7]. - **Technological Leadership**: JunTuan aims to maintain its leadership in technology and production efficiency, with a focus on N-type battery production. The company has achieved significant output in this area, positioning itself as a key player in the market [7][10]. Future Outlook - **Market Growth Projections**: The company anticipates a long-term annual growth rate of 20-30% starting in 2024, driven by technological advancements and increased global demand for PV products [6][7]. - **Investment in R&D**: JunTuan is committed to investing in research and development to enhance its technological capabilities, particularly in the context of emerging battery technologies like BC (Bifacial Cell) and TOPCon [27][36]. Key Risks and Considerations - **Market Volatility**: The company acknowledges the potential for market volatility due to fluctuating demand and pricing pressures, particularly in the context of international trade dynamics and policy changes [25][45]. - **Financial Health**: The company's debt levels have increased, with a debt-to-asset ratio exceeding 75%. This is attributed to strategic investments in capacity expansion and market positioning [39][40]. Conclusion - JunTuan Co. is navigating a complex landscape in the PV industry, characterized by strong growth potential and significant challenges. The company's strategic focus on specialization, technological advancement, and international expansion positions it well for future growth, despite the inherent risks in the market.

Core Viewpoint - JunDa Co., Ltd. has significantly increased its overseas sales proportion from 4.69% in 2023 to 18.46% in the first three quarters of 2024, driven by capacity expansion and market development efforts [1] Group 1 - The company's overseas sales proportion is expected to continue rising due to ongoing market expansion and the construction of scarce battery production capacity in Oman [1]

Group 1: Industry Overview - The global photovoltaic (PV) demand is experiencing high growth, but by the end of 2023, supply has exceeded demand, leading the industry into a capacity reduction cycle [2] - The recent "anti-involution" discussions among PV companies aim to eliminate outdated capacity, stabilize market prices, and improve supply-demand relationships [2] Group 2: Company Projects and Developments - The company plans to invest in a 5GW high-efficiency N-type battery production capacity in Oman, with construction expected to start by the end of 2024 and completion in 2025 [2] - A memorandum of understanding has been signed with a leading North American component company, with intentions to purchase 1GW-2GW of high-efficiency batteries by 2025 [3] Group 3: Sales Performance - The overseas sales proportion of the company increased significantly from 4.69% in 2023 to 18.46% in the first three quarters of 2024 [3] - Future growth in overseas sales is anticipated as the company continues to expand its international market presence and develop its Oman project [3] Group 4: Technology and Market Position - The company is actively upgrading its TOPCon battery technology and exploring next-generation technologies like TBC and BC batteries [3] - The company maintains a competitive edge in the global market due to high technical barriers in battery production, making it difficult for local industries in other countries to establish their own battery production capacity [4] Group 5: Future Market Outlook - The company expects sustained high growth in overseas exports of PV batteries, despite other countries attempting to build local supply chains [4] - The operational rates of second- and third-tier battery companies may not improve in line with industry recovery due to their technological and cost disadvantages [4]

Investment Rating - The report maintains a "Recommend" rating for the company, indicating a positive outlook on its future performance [1][3] Core Views - The company's performance is under short-term pressure due to oversupply and intensified competition in the photovoltaic (PV) cell market, leading to price declines [1] - Despite the challenges, the company's overseas sales ratio has significantly increased, with a notable rise in market share in key regions such as India, Turkey, and Europe [1] - The company is accelerating its overseas capacity layout, particularly with a 5GW high-efficiency N-type cell production base in Oman, which is expected to enhance profitability by targeting high-value markets like the US, Europe, and the Middle East [1] - The company continues to optimize its TOPCon technology and is exploring future technologies like BC and perovskite, with lab efficiencies reaching industry-leading levels [1] Financial Performance - For 24Q1-Q3, the company reported revenue of RMB 8,202 million, a year-on-year decrease of 42.96%, and a net loss attributable to the parent company of RMB -417 million, a year-on-year decrease of 125.45% [1] - In 24Q3, the company's revenue was RMB 1,828 million, a year-on-year decrease of 63.14%, with a net loss attributable to the parent company of RMB -251 million, a year-on-year decrease of 136.69% [1] - The company's PV cell shipments reached 26.45GW in 24Q1-Q3, a year-on-year increase of 35.29%, with N-type cells accounting for 89.60% of total shipments [1] Future Projections - The company is expected to achieve revenue of RMB 10,764 million, RMB 15,425 million, and RMB 17,689 million in 2024, 2025, and 2026, respectively [1][2] - Net profit attributable to the parent company is projected to be RMB -481 million in 2024, turning positive to RMB 988 million in 2025 and RMB 1,513 million in 2026 [1][2] - The company's PE ratio is forecasted to be 19x in 2025 and 12x in 2026 [1][2] Technological Advancements - The company's TOPCon technology has achieved a bifacial rate of 90% and a conversion efficiency of 26.3% for its "MoNo2" product [1] - The company is also developing TBC and perovskite tandem cells, with lab efficiencies reaching 29.03%, positioning it as a leader in the industry [1]

证券代码：002865 证券简称：钧达股份 公告编号：2024-132 针对公司股票交易异常波动，公司董事会对公司、控股股东及实际控制人就相 关事项进行了核实，现就有关情况说明如下： 海南钧达新能源科技股份有限公司 股票交易异常波动公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 特别风险提示： 1、公司股票连续 3 个交易日内收盘价格涨幅累计偏离值达 20.57%，股票交易 累计换手率为 29.8%，敬请广大投资者注意二级市场交易风险。 2、公司股票价格自 2024 年 9 月 23 日起至 2024 年 11 月 1 日止，涨幅已达 130.5%，与同期深证 A 股指数偏离度达 100.49%。公司股价短期涨幅较大，与同期 深证 A 股指数偏离度较大，敬请广大投资者注意风险。 3、公司 2024 年前三季度营业收入 82.02 亿元，同比下降 42.96%；归属于上 市公司股东的净利润为亏损 4.17 亿元，同比下降 125.45%。敬请广大投资者注意 公司经营业绩下滑风险。 一、股票交易异常波动情况的说明 公司股票连续 3 个交易日内（2024 年 ...

证券代码：002865 证券简称：钧达股份 公告编号：2024-131 海南钧达新能源科技股份有限公司 关于投资建设阿曼年产 5GW 高效电池生产基地项目的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 海南钧达新能源科技股份有限公司（以下简称"公司"）于 2024 年 7 月 25 日 召开第四届董事会第六十三次会议，审议通过《关于拟投资建设阿曼年产 5GW 高 效电池生产基地项目的议案》。 随着光伏电池转换效率持续提升，产业链成本持续下降，光伏发电相较传统化 石能源具备显著经济性，成为世界主要国家重要能源生产方式之一。海外光伏需求 快速增长，光伏新增装机增速已超国内市场。海外各国出于能源安全、促进经济发 展、当地就业等因素考虑，正逐步构建本土光伏产业链。但受制于光伏电池高技术 壁垒及对人才、研发要求较高等因素，海外光伏电池产能较为紧缺。中国光伏电池 企业凭借领先核心技术，电池产品出口持续增长，迎来较大出海发展机遇。 公司作为全球领先的光伏电池龙头企业，为深化全球客户服务能力，进一步满 足海外光伏市场需求，拟于阿曼投资建设年产 5GW 高效 N 型 ...

Group 1 - The latest margin trading balance for the stock as of October 30 is 461 million yuan, with a financing balance of 456 million yuan, which increased by 11.32 million yuan compared to the previous trading day, representing a growth of 2.55% [1] - Over the past seven days, the cumulative increase in margin trading balance is 267 million yuan, reflecting a significant growth of 141.01% [1] - The stock has appeared on the龙虎榜 (Dragon and Tiger List) twice due to a cumulative price deviation of 20% over three consecutive trading days [1] Group 2 - Institutional investors have net bought 393 million yuan, while the deep stock connect has recorded a cumulative net sell of 5.13 million yuan [1] - The total net buying from brokerage seats amounts to 90.36 million yuan [1]