北京金杜（成都）律师事务所 关于 北京钢研高纳科技股份有限公司 创业板向特定对象发行股票 金杜在《法律意见书》和《律师工作报告》中发表法律意见的前提和假设，同 样适用于本补充法律意见书。本补充法律意见书中使用的定义与《法律意见书》和 《律师工作报告》相同。 2 本补充法律意见书仅供发行人为本次发行之目的使用，不得用作任何其他目的。 金杜同意将本补充法律意见书作为发行人本次发行申请所必备的法定文件，随其他 申报材料一起上报，并愿意承担相应的法律责任。 金杜及经办律师依据上述法律、行政法规、规章、规范性文件和中国证监会的 有关规定以及本补充法律意见书出具日以前已经发生或者存在的事实，严格履行了 法定职责，遵循了勤勉尽责和诚实信用原则，对发行人本次发行相关事项进行了充 分的核查验证，保证本补充法律意见书所认定的事实真实、准确、完整，对本次发 行所发表的结论性意见合法、准确，不存在虚假记载、误导性陈述或者重大遗漏， 并承担相应法律责任。 金杜根据《审核问询函》中涉及的发行人律师部分以及发行人在补充核查期间 的变化情况，按照律师行业公认的业务标准、道德规范和勤勉尽责精神，对相关事 项做了进一步核查，并补充了工作底稿，现 ...

成立时间：2002 年 11 月 8 日 上市保荐书 华泰联合证券有限责任公司关于 北京钢研高纳科技股份有限公司 2024 年度向特定对象发行 股票并在创业板上市之上市保荐书 深圳证券交易所： 作为北京钢研高纳科技股份有限公司（以下简称"发行人"、"公司"）2024 年度向特定对象发行股票并在创业板上市的保荐人，华泰联合证券有限责任公司 及其保荐代表人已根据《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》"）等法律法规和中国证券监督管理 委员会（以下简称"中国证监会"）及贵所的有关规定，诚实守信，勤勉尽责， 严格按照依法制定的业务规则和行业自律规范出具上市保荐书，并保证所出具文 件真实、准确、完整。 现将有关情况报告如下： 一、发行人基本情况 （一）发行人概况 发行人名称：北京钢研高纳科技股份有限公司 注册地址：北京市海淀区大柳树南村 19 号 公司及前身是我国高温合金领域的缔造者之一，为我国高温合金从无到有以 至建立起自己的合金体系和国防事业的发展，做出了重要贡献。公司目前是国内 高端和新型高温合金制品生产规模最大的企业之一，拥有年生产超千吨航空航天 用高 ...

关于北京钢研高纳科技股份有限公司 2024 年度向特定对象发行股票并 在创业板上市 发行保荐书 保荐人（主承销商） （深圳市前海深港合作区南山街道桂湾五路 128 号前海深港基金小镇 B7 栋 401） 发行保荐书 华泰联合证券有限责任公司 关于北京钢研高纳科技股份有限公司 2024 年度向特定对象发行股票并在创业板上市发行保荐书 北京钢研高纳科技股份有限公司（以下简称"钢研高纳"或"发行人"或"上 市公司"或"公司"）申请向特定对象发行股票并在创业板上市，依据《公司法》 《证券法》《上市公司证券发行注册管理办法》《深圳证券交易所上市公司证券发 行上市审核规则》等相关的法律、法规的有关规定，提交发行申请文件。华泰联 合证券有限责任公司（以下简称"华泰联合证券"或"保荐人"）作为其本次发 行的保荐人，孙琪和吴思航作为具体负责推荐的保荐代表人，特为其出具本发行 保荐书。 保荐人华泰联合证券、保荐代表人孙琪和吴思航承诺：本保荐人和保荐代表 人根据《公司法》《证券法》等有关法律、法规和中国证监会、深圳证券交易所 的有关规定，诚实守信、勤勉尽责，严格按照依法制定的业务规则、行业执业规 范和道德准则出具本发行保荐书，并保 ...

Investment Rating - The report maintains a "Buy" rating for the company [2] Core Views - The company has shown significant results in expanding its research and market development efforts, with a notable increase in revenue and a slight decrease in net profit for the first three quarters of 2024 [4][5] - The company is expected to benefit from the long-term growth of the domestic aerospace industry, which is a critical part of national security strategy [4] - The company is actively improving its capital structure through a private placement to raise up to 280 million yuan, aimed at enhancing liquidity and supporting business expansion [6] - The company is diversifying its business in the aerospace sector and expanding applications of high-temperature alloys into other industries, which is expected to yield significant results in the next 3-5 years [7] Financial Performance Summary - For the first three quarters of 2024, the company achieved a revenue of 2.533 billion yuan, a year-on-year increase of 4.74%, while the net profit attributable to shareholders was 235 million yuan, a slight decrease of 0.17% [4] - The gross profit margin improved by 2.90 percentage points to 31.43% in the first three quarters of 2024, with notable increases in the margins for casting and deformation alloys [5] - The company’s inventory at the end of Q3 2024 was 2.060 billion yuan, reflecting a year-on-year increase of 22%, indicating proactive production and stocking strategies [5] - The projected net profits for 2024, 2025, and 2026 are estimated to be 354 million yuan, 494 million yuan, and 670 million yuan respectively, corresponding to price-to-earnings ratios of 39, 28, and 21 times [7]

Investment Rating - The report maintains a "Recommended" rating for the company [2][4]. Core Views - The company achieved a revenue of 2.533 billion yuan in the first three quarters of 2024, representing a year-over-year increase of 4.7%. The net profit attributable to shareholders was 235 million yuan, a slight decrease of 0.2% year-over-year [2]. - The company is focusing on expanding its international market presence and is actively advancing its capacity construction [2]. - The gross margin improved by 2.9 percentage points to 31.4% for the first three quarters of 2024, while the net profit margin increased by 0.5 percentage points to 13.0% [2]. - The company plans to raise 280 million yuan through a private placement to enhance liquidity and strengthen its long-term development foundation [2]. Financial Performance Summary - For Q3 2024, the company reported a revenue of 804 million yuan, down 15.7% year-over-year, and a net profit of 55 million yuan, down 32.1% year-over-year [2]. - The company’s operating cash flow was -375 million yuan for the first three quarters of 2024, compared to -173 million yuan in the same period last year [2]. - The company’s projected net profits for 2024, 2025, and 2026 are 395 million yuan, 490 million yuan, and 600 million yuan, respectively, with corresponding PE ratios of 35x, 28x, and 23x [3][5]. Market Position and Future Outlook - The company is one of the largest producers of high-end and new high-temperature alloy products in China, with significant production capabilities in aerospace applications [2]. - The company is expected to benefit from the high demand in the "two-machine" industry, which includes aerospace and defense sectors [2].

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company has achieved a revenue of 2.533 billion yuan in the first three quarters of 2024, representing a year-on-year increase of 4.74%. However, the net profit attributable to the parent company is 235 million yuan, showing a slight decline of 0.17% year-on-year [1] - The company is expanding its sales scale and has a strong technical reserve in high-temperature alloys, particularly benefiting from demand growth in aerospace, power, automotive, and metallurgy sectors [1][2] - The company plans to issue shares to its controlling shareholder, China Steel Research, to raise up to 280 million yuan, which will be used to supplement working capital and enhance financial stability [3] Financial Performance Summary - Total revenue (in million yuan) is projected to grow from 3,408 in 2023 to 4,128 in 2024, with a year-on-year growth rate of 21.14% [9] - The net profit attributable to the parent company is expected to increase from 416 million yuan in 2024 to 629 million yuan in 2026, with corresponding growth rates of 30.46% and 18.91% [9] - The company’s earnings per share (EPS) is forecasted to rise from 0.54 yuan in 2024 to 0.81 yuan in 2026 [9] Cash Flow and Financial Health - The company experienced a significant decrease in cash flow from operating activities, with a net cash flow of 24 million yuan projected for 2024, down from 526 million yuan in 2023 [10] - The company’s short-term borrowings increased by 32.15%, indicating a rise in bank loans to support business expansion [2] - The asset-liability ratio is projected to decrease from 48.38% in 2023 to 44.07% in 2026, reflecting improved financial stability [10]

Investment Rating - The report maintains a "Buy" rating for the company [4] Core Views - The company has demonstrated stable revenue growth, with a revenue of 2.533 billion yuan in the first three quarters of 2024, reflecting a year-on-year increase of 4.74%. However, the net profit attributable to the parent company was 235 million yuan, showing a slight decline of 0.17% year-on-year [1] - The company is positioned as a leading player in the high-temperature alloy sector, with significant advancements in technology and a comprehensive product range. It has been actively expanding into various industries, including aerospace, petrochemical, and metallurgy, which is expected to support long-term growth [2] - The company has increased its R&D expenditure by 36% year-on-year to 140 million yuan in the first three quarters of 2024, indicating a commitment to product innovation and development [2] Financial Summary - For the first three quarters of 2024, the company reported a gross margin of 31.43%, an increase of 2.90 percentage points year-on-year, and a net profit margin of 12.98%, up by 0.54 percentage points year-on-year [1] - The company's inventory at the end of Q3 2024 was 2.060 billion yuan, a 26% increase from the beginning of the period, suggesting preparations for anticipated demand growth [1] - The projected net profits for 2024, 2025, and 2026 are expected to be 408 million yuan, 513 million yuan, and 632 million yuan, respectively, with corresponding P/E ratios of 34X, 27X, and 22X [2][3]

证券代码：300034 证券简称：钢研高纳 公告编号：2024-061 北京钢研高纳科技股份有限公司 第六届监事会第二十六次会议决议的公告 二、会议审议情况 （一）审议通过了《公司2024年第三季度报告》 经审核，监事会认为：董事会编制和审核公司2024年第三季度报告的程序符 合法律、行政法规和中国证监会的规定，内容真实、准确、完整地反映了报告期 内公司的实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 具体内容详见公司于2024年10月28日在巨潮资讯网（www.cninfo.com.cn）披 露的相关公告。 表决结果：5 票同意、0 票反对、0 票弃权。 特此公告。 本公司及其监事会全体成员保证公告内容真实、准确和完整，没有虚假记载、误导性 陈述或重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 一、会议召开情况 北京钢研高纳科技股份有限公司（以下简称"公司"或"钢研高纳"）第六届监 事会第二十六次会议于2024年10月16日以通信方式通知各位监事，于2024年10 月25日在公司会议室以现场结合通讯的方式召开。会议实际出席监事5名,表决监 事5名，委托其他监事出席0名。 本次会议的 ...

证券代码：300034 证券简称：钢研高纳 公告编号：2024-060 北京钢研高纳科技股份有限公司 第六届董事会第三十四次会议决议的公告 本公司及董事会全体成员保证公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 一、会议召开情况 具体内容详见公司于2024年10月28日在巨潮资讯网（www.cninfo.com.cn）披 露的相关公告。 表决结果：9票同意、 0票反对、 0票弃权。 特此公告。 北京钢研高纳科技股份有限公司董事会 2024 年 10 月 25 日 本次会议的召开符合《公司法》及有关法律法规的规定。会议由董事长孙少 斌先生主持，经表决形成如下决议： 二、会议审议情况 1、审议通过了《公司 2024 年第三季度报告》 经认真审阅，与会董事一致认为：公司《2024年第三季度报告》的编制和审 核程序符合相关法律法规、规范性文件及《公司章程》的规定，符合中国证监会、 深圳证券交易所的有关要求，报告内容真实、准确、完整地反映了公司 2024年 第三季度的实际经营情况、财务状况和现金流量，不存在虚假记载、误导性陈述 或者重大遗漏。 本议案已经公 ...

Financial Performance - The company's revenue for Q3 2024 was ¥804,224,763.80, a decrease of 15.70% compared to the same period last year[2] - Net profit attributable to shareholders was ¥55,070,664.56, down 32.09% year-on-year[2] - The net profit after deducting non-recurring gains and losses was ¥51,226,856.39, a decline of 34.33% compared to the previous year[2] - The basic earnings per share were ¥0.0712, down 34.04% compared to the same period last year[2] - The net profit for Q3 2024 was CNY 328,846,922.42, an increase from CNY 300,802,202.39 in Q3 2023, representing a growth of approximately 9.8%[15] - Operating profit for the period was CNY 379,290,577.14, compared to CNY 349,758,511.43 in the previous year, marking an increase of about 8.4%[15] - The total comprehensive income for the period was CNY 328,846,922.42, compared to CNY 300,802,202.39 in the previous year, indicating an increase of about 9.8%[16] - The investment loss for the period was CNY -19,481,918.70, worsening from CNY -16,532,797.11 in the previous year[15] - The tax expenses for the quarter were CNY 50,340,268.28, compared to CNY 48,310,769.86 in the same quarter last year, reflecting an increase of about 4.2%[15] - Minority interests in net profit increased to CNY 93,952,301.01 from CNY 65,498,986.46, representing a growth of approximately 43.5%[16] Assets and Liabilities - The total assets at the end of the reporting period were ¥7,449,814,401.57, an increase of 3.18% from the end of the previous year[2] - Total liabilities increased to CNY 3,514,542,512.06 from CNY 3,493,307,376.61, reflecting a rise of 0.6%[14] - Non-current assets amounted to CNY 2,328,580,899.72, up from CNY 2,187,542,682.98, indicating an increase of 6.43%[13] - The company's equity increased to CNY 3,935,271,889.51 from CNY 3,726,861,599.51, representing a growth of 5.6%[14] Cash Flow - The company's cash flow from operating activities showed a net outflow of ¥375,292,588.83, a decrease of 116.51% year-on-year[2] - The net cash flow from operating activities was -375,292,588.83 CNY, compared to -173,337,926.59 CNY in the previous year, indicating a decline in operational performance[18] - Total cash inflow from operating activities reached 2,319,985,854.97 CNY, while cash outflow was 2,695,278,443.80 CNY, resulting in a net cash outflow of 375,292,588.83 CNY[18] - Cash and cash equivalents at the end of the period were 326,573,039.67 CNY, down from 586,625,854.15 CNY at the end of the previous year[19] - The company reported a cash inflow from financing activities of 178,482,528.86 CNY, significantly lower than 437,014,922.81 CNY in the same period last year[18] - Cash outflow from financing activities totaled 191,282,913.02 CNY, compared to 528,522,062.50 CNY in the previous year, reflecting a reduction in financing costs[18] - The company received 14,819,044.34 CNY in tax refunds, compared to 30,205,712.85 CNY in the previous year, indicating a decrease in tax recovery[18] - Investment activities resulted in a net cash outflow of -221,436,907.36 CNY, worsening from -161,121,834.11 CNY year-over-year[18] - The company paid 424,114,933.85 CNY to employees, slightly increasing from 414,069,031.40 CNY in the previous year, reflecting stable labor costs[18] - The total cash inflow from investment activities was 1,612,358.63 CNY, a significant drop from 16,949,817.23 CNY in the previous year[18] Shareholder Information - The total number of common shareholders at the end of the reporting period is 39,375[7] - The largest shareholder, China Steel Research Group Corporation, holds 40.38% of the shares, totaling 312,962,795 shares[7] - The company completed the 2023 profit distribution plan, distributing cash of RMB 1.24 for every 10 shares, based on a total share capital of 775,137,713 shares[11] - The top ten shareholders collectively hold a significant portion of the shares, with the top three alone accounting for over 46%[7] - The company has no pledged, marked, or frozen shares among the top shareholders[7] - The number of restricted shares at the beginning of the period was 26,310,591, which were all released during the period[10] - The company has not disclosed any related party transactions among the top shareholders[9] Operational Metrics - Total operating revenue for Q3 2024 reached CNY 2,533,186,106.69, an increase of 4.75% compared to CNY 2,418,604,933.99 in the same period last year[14] - Total operating costs decreased to CNY 2,153,556,857.74 from CNY 2,063,900,612.09, reflecting a reduction of approximately 4.3%[14] - Accounts receivable increased significantly to CNY 1,816,782,649.43, up from CNY 1,127,608,835.94, indicating a growth of 61.3%[13] - Inventory rose to CNY 2,059,863,147.83, compared to CNY 1,634,588,001.41, marking an increase of 26%[13] - Current assets totaled CNY 5,121,233,501.85, slightly up from CNY 5,032,626,293.14, showing a growth of 1.76%[13] - The cash balance at the end of the reporting period is RMB 353,313,685.78, down from RMB 968,850,288.40 at the beginning of the period[12] - Accounts receivable at the end of the reporting period amount to RMB 505,033,378.17, compared to RMB 974,404,307.05 at the beginning[12] Future Outlook - Future outlook includes continued focus on market expansion and potential new product development, although specific figures were not disclosed in the report[14]