北京市嘉源律师事务所 关于河北中瓷电子科技股份有限公司 2024 年年度股东大会的 法律意见书 西城区复兴门内大街 158 中国 ·北京 二〇二五年五月 源律师事务所 IA YUAN LAW OFFICES 北京 BEIJING·上海 SHANGHAI·深圳 SHENZHEN·香港 HONGKONG·广州 GUANGZHOU·西安 XI'AN 致:河北中瓷电子科技股份有限公司 北京市嘉源律师事务所 中瓷电子 2024 年年度股东大会 关于河北中瓷电子科技股份有限公司 2024 年年度股东大会的 法律意见书 嘉源(2025)-04-302 北京市嘉源律师事务所(以下简称"本所")接受河北中瓷电子科技股份有限 公司(以下简称"公司")的委托,根据《中华人民共和国公司法》(以下简称"《公 司法》")《上市公司股东会规则》(以下简称"《股东会规则》")等现行有 效的法律、行政法规、部门规章、规范性文件(以下简称"法律法规")以及《河 北中瓷电子科技股份有限公司章程》(以下简称"《公司章程》")的有关规定, 指派本所律师对公司 2024年年度股东大会(以下简称"本次股东大会")进行见 证,并依法出具本法律意见书。 为出 ...

证券代码：003031 证券简称：中瓷电子 公告编号：2025-048 河北中瓷电子科技股份有限公司 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： 1. 本次股东大会无增加、变更、否决议案的情形； 2. 本次股东大会不涉及变更前次股东大会决议； 3. 本次股东大会采取现场投票和网络投票相结合的表决方式。 一、会议召开和出席情况 （一）会议召开情况 1. 本次股东大会的召开时间： （1）现场会议召开时间：2025 年5月15 日（星期四）14:30-16:00 （2）网络投票时间：2025年5月15 日（星期四） 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：2025 年 5月15 日（星期四）上午9:30-11:30，下午13:00-15:00； 3. 召开方式：本次股东大会采取现场投票与网络投票相结合的方式。 4. 召集人：公司董事会 5. 现场会议主持人：董事长卜爱民先生 6. 本次股东大会的召集和召开程序符合《中华人民共和国公司法》等法律、 法规及规范性文件及《公司章程》的规定。 （二）会议出席情 ...

河北中瓷电子科技股份有限公司 关于股东减持股份计划完成的公告 石家庄泉盛盈和企业管理合伙企业（有限合伙）保证向本公司提供的信息 内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一 致。 公司于 2025 年 1 月 18 日披露了《关于股东减持股份的预披露公告》（公告 编号：2025-006 号）。公司股东石家庄泉盛盈和企业管理合伙企业（有限合伙） （以下简称"泉盛盈和"）计划自前述公告披露之日起 15 个交易日后的三个月 内以集中竞价、大宗交易方式减持不超过 451.0529 万股，即不超过公司当前股 份总数的 1%（如遇送股、资本公积金转增股本等股份变动事项，上述拟减持股 份数量可以进行相应调整）（以下简称"本次减持计划"）。 公司于近日收到泉盛盈和出具的《关于减持河北中瓷电子科技股份有限公司 股份计划实施完毕的告知函》，截至本公告披露日，泉盛盈和本次减持计划已经 完成。根据《上市公司股东减持股份管理暂行办法》《深圳证券交易所上市公司 自律监管指引第 18 号——股东及董事、高级管理人员减持股份》等相关规定， 现将有关情况公告如下： ...

Core Viewpoint - Company is actively engaging with institutional investors and has shown significant growth in its financial performance, particularly in the semiconductor and electronic ceramic materials sectors. Group 1: Financial Performance - In Q1 2025, the company's main revenue reached 614 million yuan, an increase of 12.01% year-on-year, while the net profit attributable to shareholders was 123 million yuan, up 48.81% year-on-year [11] - The company's net profit growth is attributed to product structure optimization and enhanced cost control, leading to an increase in gross profit margin [11] Group 2: Business Development - The company is focusing on the development of precision ceramic components, having established a manufacturing process platform and achieved international standards in core technology indicators for ceramic heating plates [3] - The company is also expanding its presence in the third-generation semiconductor sector, which is a core part of its development strategy, with ongoing investments in research and development [5] Group 3: Market Position and Competition - The company faces some market competition in the SiC chip sector, but its product performance and quality have led to a high level of market recognition and an increasing market share [4] - In the context of slowing 5G base station construction domestically, the company sees long-term growth potential for GaN RF chips, particularly in overseas markets [6] Group 4: Strategic Initiatives - The company is exploring diverse employee incentive methods and is considering stock incentive plans in line with regulatory requirements and its development strategy [6] - The company emphasizes collaboration with industry partners and research institutions to foster innovation and accelerate technology transfer [8] Group 5: Future Outlook - The company has set ambitious profit forecasts for the coming years, with projected net profits of 653 million yuan in 2025 and 801 million yuan in 2026 according to various securities firms [14] - The company is actively working on technological advancements for 5G, 6G, and satellite communication systems, indicating a commitment to staying at the forefront of the industry [10]

Group 1: Investor Relations Activities - The company engaged in specific investor research activities, including site visits and meetings with various investment firms [2][3] - Notable participants included representatives from major investment firms such as China Life Asset Management and E Fund Management [2] Group 2: Business Performance and Growth - The company reported a significant increase in net profit attributable to shareholders, driven by product structure optimization and enhanced cost control, with gross profit margins improving [6] - Following the acquisition of the remaining equity in Guolian Wanzhong, the company's ownership increased from 94.60% to 100%, contributing to profit growth [6] Group 3: Product Development and Market Position - The company is focusing on the development of precision ceramic components, with advancements in alumina and aluminum nitride products achieving international standards [3][4] - In the third-generation semiconductor sector, the company is committed to maintaining R&D resources and investments, aiming to enhance product technology and reduce costs [4] Group 4: Competitive Landscape and Market Strategy - The company faces competitive pressure in the SiC chip market but maintains a strong market presence due to product quality and performance advantages [3][4] - The company is actively promoting SiC modules in high-voltage markets such as smart grids and has established small batch orders in the new energy vehicle sector [4] Group 5: Future Outlook and Strategic Initiatives - The company is exploring potential stock buyback plans and employee incentive programs, contingent on market conditions and business needs [5] - Ongoing research and development efforts are focused on next-generation communication systems, including 5G-A and 6G technologies [6][7]

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。 经河北中瓷电子科技股份有限公司（以下简称"公司 "）第二届董事会第三 十二次会议审议通过，公司董事会决定于2025 年5 月15日召开 2024年年度股东 大会，现将本次股东大会的有关事项通知如下： 证券代码：003031 证券简称：中瓷电子 公告编号：2025-047 河北中瓷电子科技股份有限公司 关于召开 2024 年年度股东大会的提示性公告 一、召开会议的基本情况 第三十二次会议审议通过，符合有关法律、行政法规、部门规章、规范性文件、 深圳证券交易所业务规则和《公司章程》的有关规定。 （1）现场会议时间：2025 年5 月15日 14:30-16:00 （2）网络投票时间：2025 年5 月15日 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：2025年5月15 日 上午 9:30-11:30，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：2025 年5 月15日 9:15-15:00 期间的任意时间。 本次股东大会采用现场投票与网络投票相结合的方式。公司将通 ...

证券代码：003031 证券简称：中瓷电子 公告编号：2025-047 河北中瓷电子科技股份有限公司 关于召开 2024 年年度股东大会的提示性公告 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。 经河北中瓷电子科技股份有限公司（以下简称"公司"）第二届董事会第三 十二次会议审议通过，公司董事会决定于2025 年5 月15日召开 2024年年度股东 大会，现将本次股东大会的有关事项通知如下： 一、召开会议的基本情况 1 、股东大会届次：2024 年年度股东大会 2、会议的召集人：公司董事会 3、会议召开的合法、合规性：本次股东大会的召开已经公司第二届董事会 第三十二次会议审议通过，符合有关法律、行政法规、部门规章、规范性文件、 深圳证券交易所业务规则和《公司章程》的有关规定。 4、会议召开的日期、时间： 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：2025年5月15 日 上午 9:30-11:30，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：2025 年5 月15日 9:15-15:00 期间的任意时间。 5 ...

Core Viewpoint - Company reported significant growth in net profit and revenue for Q1 2025, driven by strategic acquisitions and improved product margins. Financial Performance - In Q1 2025, the company's total revenue reached 614 million, a year-on-year increase of 12.01% [20] - The net profit attributable to shareholders was 123 million, reflecting a substantial year-on-year growth of 48.81% [20] - The net profit excluding non-recurring items increased by 68.76%, amounting to 114 million [20] Growth Drivers - The growth in net profit is attributed to the acquisition of the remaining stake in Guolian Wanzhong, which increased the company's ownership from 94.6029% to 100% [10] - Enhanced product structure and cost control measures contributed to improved gross margins [10][2] Direct Sales Model - The direct sales model achieved a growth rate of 36.41% in 2024, with a maintained gross margin of 36.41% [3][5] Product Development and Market Expansion - The company is focusing on silicon carbide (SiC) products, which are currently in the verification phase with major automotive clients like BYD [4] - The SiC main drive chip has a yield target of over 80% for mass production in 2025, with applications expanding into energy storage and charging stations [4] - The company is actively developing new products for emerging applications such as low-altitude economy and 5G-A communication [8] Challenges and Management - Internal offsets decreased from 625 million in 2023 to 501 million in 2024, indicating improved management of related transactions [7] - The company is monitoring foreign exchange risks closely, with a net exposure hedge yield of zero for 2024 [13] Strategic Outlook - The company aims to create a world-class leading enterprise and is open to potential acquisitions to enhance its semiconductor industry chain [16] - The production line for consumer electronic ceramic products has been completed and is ramping up to meet revenue targets [15]

Financial Performance - The net profit for Q1 2025 increased by 48.81% year-on-year, primarily due to product structure optimization and enhanced cost control, with gross profit levels improving [5] - The net profit attributable to shareholders grew by 39.87% year-on-year, with the difference in growth rates attributed to the acquisition of the remaining equity of Guolian Wanzhong, resulting in 100% ownership [5] - The revenue for Q1 2025 saw a year-on-year increase of 12.01%, driven by strong market expansion and rapid revenue growth in electronic ceramics and silicon carbide power modules [3] Operational Highlights - The direct sales model achieved a growth rate of 36.41% in 2024, with a maintained gross margin of 36.41% [3] - The internal offset amount decreased from 625 million yuan in 2023 to 501 million yuan in 2024, indicating improved financial management [4] - The company is actively developing new products for emerging applications in low-altitude economies and is expanding its production capacity for GaN and SiC products [4] Product Development and Market Strategy - The silicon carbide main drive products are currently in the verification phase with major automotive clients, targeting a yield rate of over 80% for the main drive chips by 2025 [3] - The company has established a comprehensive manufacturing process platform for precision ceramic components, achieving key technical indicators that meet international standards [6] - The company plans to enhance its competitive edge in the semiconductor market by focusing on technological innovation and resource optimization [4] Challenges and Risk Management - The company reported a significant increase in accounts receivable by 45.07% year-on-year, attributed to timing differences in customer payments and extended receivable periods [7] - The net open hedging gain for 2024 was reported at -608,529.85 yuan, primarily due to exchange rate fluctuations, with ongoing monitoring of foreign currency transactions to mitigate risks [8] - The company is addressing the challenges in the supply chain and technology for its silicon carbide products while ensuring effective integration of its semiconductor and electronic ceramics businesses [4][5]

Investment Rating - The report maintains a "Recommended" rating for the company [4][6]. Core Views - The company has demonstrated stable operating performance with a focus on high-end fields and domestic substitution [1][4]. - The revenue for 2024 was 2.648 billion yuan, a decrease of 1.0% year-on-year, while the net profit attributable to shareholders increased by 10.0% to 539 million yuan [1][5]. - The first quarter of 2025 showed a revenue of 614 million yuan, a year-on-year increase of 12.0%, and a net profit of 123 million yuan, up 48.8% [1][5]. Revenue Breakdown - The revenue from electronic ceramic materials and components in 2024 was 1.878 billion yuan, accounting for 59.6% of total revenue, with a gross margin of 27.35% [2]. - The revenue from third-generation semiconductor devices and modules was 1.272 billion yuan, a decrease of 12.05%, accounting for 40.4% of total revenue, with a gross margin of 36.27% [2]. - The overall gross margin for 2024 was 36.41%, an increase of 0.80 percentage points year-on-year [2]. R&D Investment - The company has maintained a high R&D expense ratio, with rates of 12.2%, 10.5%, and 10.9% from 2022 to 2024, respectively [3]. - In 2024, R&D expenses amounted to 290 million yuan, a year-on-year increase of 3.1% [3]. - The company leads the domestic market in GaN communication base station RF chips and devices, with products achieving international advanced levels [3]. Financial Forecast - The projected net profits for 2025, 2026, and 2027 are 620 million yuan, 713 million yuan, and 872 million yuan, respectively, with corresponding PE multiples of 33x, 29x, and 24x [4][5]. - Revenue is expected to grow to 2.970 billion yuan in 2025, reflecting a growth rate of 12.2% [5][10].