2024 年年度股东大会的法律意见书 康达股会字【2025】第 0229 号 致：北京声迅电子股份有限公司 北京市康达律师事务所（以下简称"本所"）接受北京声迅电子股份有限公司（以 下简称"公司"）的委托，指派本所律师参加公司 2024 年年度股东大会（以下简称"本 次会议"）。 北京市朝阳区建外大街丁 12 号英皇集团中心 8、9、11 层 8/9/11/F, Emperor Group Centre, No.12D, Jianwai Avenue, Chaoyang District, Beijing, 100022, P.R.China 电话/Tel.:010-50867666 传真/Fax:010-56916450 网址/Website:www.kangdalawyers.com 北京 西安 深圳 海口 上海 广州 杭州 沈阳 南京 天津 菏泽 成都 苏州 呼和浩特 香港 武汉 郑州 长沙 厦门 重庆 合肥 宁波 济南 昆明 南昌 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》"） ...

| 证券代码：003004 | 证券简称：*ST 声迅 | 公告编号：2025-042 | | --- | --- | --- | | 债券代码：127080 | 债券简称：声迅转债 | | 北京声迅电子股份有限公司 2024 年年度股东大会决议公告 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、本次股东大会没有否决议案的情形； 2、本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开情况 4、会议召集人：公司董事会 5、会议主持人：公司董事长聂蓉女士 6、本次股东大会会议的召集和召开符合有关法律、行政法规、部门规章、 规范性文件和公司章程的规定。 二、会议出席情况 股东出席的总体情况：通过现场和网络投票的股东及股东授权代理人共 53 人，代表股份 50,691,892 股，占公司有表决权股份总数的 62.7977％。其中：通 过现场投票的股东 9 人，代表股份 50,316,850 股，占公司有表决权股份总数的 62.3331％。通过网络投票的股东 44 人，代表股份 375,042 股，占公司有表决权 股份总数的 0.4646％ ...

证券代码：003004 证券简称：*ST 声迅 债券代码：127080 证券简称：声迅转债 北京声迅电子股份有限公司 2024 年度业绩说明会投资者关系活动记录表 编号：2025-002 | | 特定对象调研 □分析师会议 | | --- | --- | | 投资者关系 | □媒体采访 业绩说明会 | | 活动类别 | □新闻发布会 □路演活动 | | | 现场参观 | | | □其他 （请文字说明其他会议内容） | | 活动参与人员 | 线上参与公司 年度网上业绩说明会的全体投资者 2024 | | 时间 | 年 月 2025 5 20 日（星期二）15：00—17：00 | | 地点 | "深交所互动易"平台（http://irm.cninfo.com.cn）—"云访谈"栏目 | | 形式 | 线上网络互动 | | | 董事长：聂蓉 | | 公司接待 | 独立董事：吴甦 | | 人员姓名 | 总经理：楚林 | | | 董事会秘书、财务总监：王娜 | | | 保荐代表人：邵晓宁 | | | 年营业成本显著变高的原 1.各位领导你们好，我想问一下贵公司 2024 | | | 因是什么？ | | | 答： ...

Financial Performance - The company's revenue for Q1 2025 remained stable compared to the previous year, primarily driven by service income, which has a higher gross margin than solution-based income [5] - The company aims to achieve over 300 million in revenue for 2025 to avoid delisting risks, with strategies including mergers and acquisitions, cost control, and enhancing sales incentives [7][8] Cost and Profitability - The significant increase in operating costs in 2024 was attributed to external environmental factors and intensified market competition, leading to a decrease in project gross margins [2][4] - Future profitability will be driven by focusing on core business areas, controlling costs, improving operational efficiency, and exploring mergers and acquisitions [4][8] Market Expansion and Technology Development - The company is actively expanding its presence in the civil aviation sector, with a focus on smart security technologies, having established a research center in collaboration with local partners [3] - The millimeter-wave body imaging security inspection equipment has received certification from the Civil Aviation Administration of China, marking a significant step in enhancing the company's capabilities in the aviation security market [3] Strategic Initiatives - The company plans to enhance its operational service offerings by integrating security and emergency response services, thereby increasing competitiveness [4] - There is a strong emphasis on AI applications in the banking sector, with a successful project at Beijing Bank showcasing the potential for deepening customer value [6] Governance and Shareholder Interests - The independent directors are committed to protecting the interests of minority shareholders by ensuring compliance with regulations and promoting good governance practices [6][9] - The company is focused on maintaining transparency and effective communication with shareholders regarding operational and financial performance [11]

| 证券代码：003004 | 证券简称：*ST 声迅 | 公告编号：2025-041 | | --- | --- | --- | | 债券代码：127080 | 债券简称：声迅转债 | | 北京声迅电子股份有限公司 关于声迅转债预计触发转股价格向下修正条件的提示性公告 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、证券代码：003004；证券简称：声迅股份 2、债券代码：127080；债券简称：声迅转债 3、当期转股价格：28.94 元/股 4、转股期限：2023 年 7 月 7 日至 2028 年 12 月 29 日 5、自 2025 年 5 月 7 日至 2025 年 5 月 20 日，北京声迅电子股份有限公司 （以下简称"公司"）股票已有十个交易日的收盘价低于当期转股价格的 85%（即 24.60 元/股），预计后续有可能触发"声迅转债"转股价格向下修正条款。 6、若触发转股价格修正条件，公司将根据《深圳证券交易所上市公司自律 监管指引第 15 号——可转换公司债券》等相关规定及《公开发行可转换公司债 券募集说明书》（以下简称"《募集 ...

Group 1 - The disclosure period for convertible bond ratings is expected to be intensive following the annual report releases of listed companies [1][2] - Credit ratings serve as an important tool for risk disclosure in financial markets and are crucial for market regulation and promotion [1][2] - Several convertible bonds have recently had their ratings downgraded due to poor company performance and high repayment pressures [2][3] Group 2 - The China Securities Association has issued new regulations requiring credit rating agencies to provide annual tracking reports for rated securities with a duration of over one year [2] - The tracking reports are expected to be concentrated in June, with the latest ratings for convertible bonds to be disclosed by the end of July [2] - Companies like *ST Shengxun have been placed on credit rating watch lists due to their financial difficulties, with potential implications for their convertible bonds [2][3] Group 3 - The competitive market environment has led to declining profit margins and increased costs for companies, resulting in significant financial losses projected for 2024 [3] - Companies facing downgrades often exhibit fundamental issues such as performance losses, rising debt pressures, and deteriorating credit conditions [3][4] - The trend of rating adjustments for convertible bonds has been increasing since 2018, primarily affecting bonds rated A- and above [4] Group 4 - Investors are expected to focus on high-rated and fundamentally sound convertible bonds during the rating adjustment period [4][5] - Market sentiment may shift towards sectors supported by domestic demand policies and those with high economic activity, such as consumer electronics and retail [5] - Companies with low prices, high yield to maturity, and strong fundamentals are likely to be favored in the current market environment [5]

Core Viewpoint - *ST Shengxun has experienced significant stock price movements, with three trading halts in four days, resulting in a cumulative increase of 11.51% and a turnover rate of 21.57% [2] Trading Performance - The stock recorded a trading volume of 2.4756 million shares and a transaction amount of 48.7081 million yuan, with a turnover rate of 3.76% as of 9:45 AM [2] - The stock's performance over recent days shows fluctuations, including a 5.00% increase on May 14 and a 3.69% decrease on May 13 [2] Shareholder Dynamics - As of May 10, the number of shareholders decreased to 7,949, down by 3,149 from the previous period, marking a 28.37% decline [2] - This decline in shareholder count indicates a trend of increasing concentration of shares [2] Financial Performance - In the first quarter, the company reported total revenue of 0.19 billion yuan, a year-on-year decrease of 1.35%, and a net profit of -0.14 billion yuan, reflecting a 32.85% decline compared to the previous year [2]

Investment Rating - The report maintains an "Overweight" rating for the low-altitude economy sector [3][36]. Core Insights - The low-altitude economy index increased by 9.8% this week, with an average daily trading volume of 31.152 billion yuan, indicating a significant rise in market activity and valuation [3][13]. - The military performance of Chinese weaponry in the India-Pakistan conflict has led to a reevaluation of the aerospace sector's value, particularly in the military industry [3][13]. Sector Performance - The low-altitude economy index outperformed the Shanghai and Shenzhen 300 index by 7.92% this week [3][13]. - The price-to-earnings ratio (TTM) reached 96.48, placing it in the 99.58% percentile over the past year [3][13]. - The average daily net inflow of main funds was 254 million yuan, indicating a shift towards net inflows from major investors [3][13]. Individual Stock Performance - The top five performing stocks this week were Chenxi Aviation, Aerospace Nanhu, Aileda, Sichuan Electronics, and Andavil, with significant weekly gains [4][18]. - Conversely, the five stocks with the largest declines included Wolong Electric Drive, Yingboer, Bozhong Precision, Xiaopeng Motors-W, and *ST Shengxun [4][18]. Industry Dynamics - The report highlights the release of the "2024 County (District) Low-altitude Economy Industry Development Index Report," which evaluates various indicators across leading counties and cities [5][22]. - A low-altitude regulatory service platform has been established in Qingdao, enhancing the management and monitoring of low-altitude airspace [5][22]. - Four major low-altitude economic projects have been signed in Shanghai's Qingpu District, focusing on various aspects of the low-altitude economy [5][23]. Policy Developments - Sichuan Province has issued several policy measures to support the development of the low-altitude economy, including financial support for the construction of general airports and low-altitude management systems [6][31]. Key Company Developments - Wofei Chang Kong has signed a strategic agreement with China Construction Bank and Jianxin Financial Leasing, securing a total financing amount of 6 billion yuan, marking the highest financing leasing credit in the domestic eVTOL sector [7][32]. - Zero Gravity showcased its ZG-ONE "Que Fei" model at the 2025 World Expo in Osaka, Japan, highlighting advancements in Chinese aviation technology [7][35]. - Zongheng Co., Ltd. has won bids for low-altitude projects in Sichuan, indicating active participation in the sector [7][35].

Group 1 - The ST sector showed strong performance in the morning, with several stocks experiencing significant gains [1] - Notable stocks that reached the daily limit include *ST Shuangcheng, *ST Zhengping, *ST Wanfang, *ST Yatai, *ST Jianyi, *ST Bosen, and *ST Shengxun, among nearly 20 stocks [1]

Group 1: Company Overview and Financial Performance - The company reported a slight increase in overall revenue for 2024, but faced a significant decline in gross profit margin due to intensified competition, resulting in a year-on-year decrease in gross profit [2][3] - In 2024, the company recognized various impairment losses totaling approximately 37.6 million yuan [3] - The company adopted a cautious approach in 2024, overestimating bad debt provisions by 7 million yuan, although actual bad debts were minimal [4] Group 2: Cash Flow and Collection Measures - In Q1 2025, the company achieved cash collections of approximately 90 million yuan, comprising 70 million yuan in cash and 20 million yuan in notes [5] - The company holds weekly and monthly meetings to monitor cash collection status, with performance metrics increasingly tied to collection outcomes [5] Group 3: Strategies to Address Losses and Delisting Risks - The company’s board and management are committed to implementing effective measures to improve operational and financial conditions, aiming to eliminate delisting risk warnings [6] - Key strategies include focusing on core security operations, controlling costs, enhancing sales incentives, and increasing efforts to collect receivables [6] - The company plans to explore mergers and acquisitions that align with its strategic development goals [7] Group 4: Debt and Asset Management - The company has over 100 million yuan in unutilized fundraising, which is expected to generate revenue once investment projects are completed [8] - The company’s net assets exceed 700 million yuan, with an asset-liability ratio below 40%, providing a solid foundation for debt repayment capabilities [8] Group 5: Conditions for Lifting Delisting Risk Warning - The company can apply to lift the delisting risk warning if it meets specific financial criteria in its 2025 audited report, including a positive net profit or a minimum operating revenue of 300 million yuan [8]