Group 1 - The company received an "AA+" rating for its bond issuance aimed at professional investors, indicating a strong credit quality [1] - The company's main revenue sources are from digital systems and data operation services, with a gradual shift away from its original data lake business towards smart transportation and data element integration [2] - As of March 2025, the company has seen a steady increase in its contract amounts, providing a foundation for revenue [2] Group 2 - The company experienced a significant decline in total operating revenue due to the contraction of its data lake business and revenue adjustments in certain projects, which could not be compensated by the growth in smart transportation and data element businesses [2] - The company reported substantial losses in total profit due to large impairment provisions for accounts receivable and contract assets, as well as investment losses related to long-term equity investments [2] - The company faces high asset restrictions and limited financing channels, leading to a significant increase in debt burden and a net cash outflow situation, which does not provide adequate support for its debt [2] Group 3 - The company has a risk of impairment for accounts receivable and contract assets, as well as potential contingent liabilities, raising concerns about the continued decline in equity [2] - China Hualu Group Co., Ltd. provides unconditional and irrevocable joint liability guarantees for the company's bond, significantly enhancing its credit level [2]

北京易华录信息技术股份有限公司 公开发行公司债券 2025 年跟踪评级报告 1 www.lhratings.com 联合〔2025〕4472 号 联合资信评估股份有限公司通过对北京易华录信息技术股份有 限公司主体及其相关债券的信用状况进行跟踪分析和评估，确定维 持北京易华录信息技术股份有限公司主体长期信用等级为 AA，维 持"22 华录 01"信用等级为 AA+，评级展望为稳定。 特此公告 联合资信评估股份有限公司 评级总监： 二〇二五年六月十八日 声 明 一、本报告是联合资信基于评级方法和评级程序得出的截至发表之日的 独立意见陈述，未受任何机构或个人影响。评级结论及相关分析为联合资信 基于相关信息和资料对评级对象所发表的前瞻性观点，而非对评级对象的事 实陈述或鉴证意见。联合资信有充分理由保证所出具的评级报告遵循了真 实、客观、公正的原则。鉴于信用评级工作特性及受客观条件影响，本报告 在资料信息获取、评级方法与模型、未来事项预测评估等方面存在局限性。 二、本报告系联合资信接受北京易华录信息技术股份有限公司（以下简 称"该公司"）委托所出具，除因本次评级事项联合资信与该公司构成评级 委托关系外，联合资信、评级人 ...

Group 1 - The legal opinion letter is issued by Zhonglun Law Firm regarding the 2024 annual general meeting of Beijing Yihualu Information Technology Co., Ltd. [3][20] - The meeting was convened in accordance with the Company Law, Securities Law, and the company's articles of association, ensuring compliance with legal requirements [6][19] - A total of 418 shareholders and their proxies attended the meeting, representing 264,477,177 shares, which is 36.7384% of the total voting shares [6][19] Group 2 - The meeting was held on June 10, 2025, using a combination of on-site and online voting methods [5][6] - The voting results for various proposals were announced, with significant support from minority investors, indicating a high level of agreement on key issues [7][10][12] - The legal opinion confirms that the voting procedures and results are valid and comply with relevant laws and regulations [18][20]

Group 1 - The company held its 2024 annual general meeting on June 10, 2025, combining on-site and online voting methods [1] - The controlling shareholder, China Hualu Group Co., Ltd., proposed a temporary motion regarding the transfer of part of its equity in a subsidiary, which was approved for discussion at the meeting [1][2] - A total of 418 shareholders participated in the meeting, representing 257,336,232 shares, accounting for 35.7465% of the total voting shares [2] Group 2 - The voting results showed that 264,062,882 shares were in favor of the proposals, representing 99.8434% of the valid votes cast [2][3] - Among minority shareholders, 6,729,250 shares voted in favor, accounting for 94.2004% of the minority shareholder votes [3] - The meeting's resolutions were passed with significant majorities, indicating strong support from shareholders [4][5] Group 3 - The legal opinions provided confirmed that the meeting's procedures and voting processes complied with relevant laws and regulations, ensuring the validity of the resolutions [12]

北京市中伦律师事务所 关于北京易华录信息技术股份有限公司 2024 年年度股东大会的 法律意见书 二〇二五年六月 北京 • 上海 • 深圳 • 广州 • 武汉 • 成都 • 重庆 • 青岛 • 杭州 • 南京 • 海口 • 东京 • 香港 • 伦敦 • 纽约 • 洛杉矶 • 旧金山 • 阿拉木图 Beijing • Shanghai • Shenzhen • Guangzhou • Wuhan • Chengdu • Chongqing • Qingdao • Hangzhou • Nanjing • Haikou • Tokyo • Hong Kong • London • New York • Los Angeles • San Francisco • Almaty 法律意见书 本所及经办律师依据《证券法》《律师事务所从事证券法律业务管理办法》 和《律师事务所证券法律业务执业规则》等规定及本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， 进行了充分的核查验证，保证本法律意见所认定的事实真实、准确、完整，所发 表的结论性意见合法、准确，不存在虚假记载、误导性 ...

| 证券代码：300212 | 证券简称：易华录 | 公告编号：2025-035 | | --- | --- | --- | | 债券代码：148002 | 债券简称：22 华录 01 | | 北京易华录信息技术股份有限公司 2024 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、本次股东大会未涉及变更前次股东大会决议的情形； 2、本次股东大会以现场与网络投票相结合的方式召开； 3、本次股东大会有增加提案的情况： 2025 年 5 月 30 日，公司召开的第六届董事会第十三次会议审议通过了《关 于转让控股子公司部分股权暨关联交易的议案》。2025 年 5 月 30 日，公司控股 股东中国华录集团有限公司（持有公司股份 229,124,004 股，占股本总数 31.83%）以临时提案的方式提请公司 2024 年度股东大会审议上述议案。中国华 录集团有限公司提出临时提案的申请符合《公司法》《上市公司股东会规则》 和《公司章程》的相关规定。为提高决策效率，公司董事会同意将《关于转让 控股子公司部分股权暨关联交易的议案》作为临时 ...

Core Insights - The Chinese government is actively promoting the development of a national data factor market, with plans to establish 10 comprehensive pilot zones in regions like Beijing, Zhejiang, and Anhui to enhance the integration of the digital and real economies [1][2] - The marketization and valuation of data factors are emphasized as key objectives, with a focus on public data utilization and enterprise innovation to drive economic growth [1][2] - The data factor market in China is projected to reach approximately 204.29 billion yuan by 2025, indicating significant growth potential [3] Policy Developments - The National Data Bureau has released several important policies to support the data factor industry, including the "Digital China Construction 2025 Action Plan," which aims for the core industries of the digital economy to account for over 10% of GDP by 2025 [2] - The "Data Factor × Three-Year Action Plan (2024-2026)" aims to expand the application of data factors significantly by 2026, with a target of creating over 300 exemplary application scenarios [2] Company Initiatives - Companies like Beijing Yihualu Information Technology Co., Ltd. are leading the data factor industry by completing multiple national-level data asset projects and focusing on standardization and productization of data services [3] - Guangzhou Kingmed Diagnostics Group Co., Ltd. has made strides in the compliant trading of medical testing data, marking a significant step in the industry [4] - Zhejiang Big Data Trading Center Co., Ltd. is working to establish a comprehensive data factor trading system in Zhejiang Province, covering various sectors and enhancing data circulation [5] Market Trends - The data factor industry is witnessing a surge in application scenarios across multiple sectors, with a call for improved data resource systems and enhanced trading mechanisms to unlock the multiplier effect of data [5] - The focus on data-driven innovation is expected to foster deeper integration of data with industries such as smart manufacturing, healthcare, and smart cities, creating demonstrative effects [5]

Core Viewpoint - The company 易华录 (300212.SZ) is transferring 31.77% of its subsidiary 国富瑞数据系统有限公司 to 中电科投资控股有限公司 for 500 million yuan to alleviate financial pressure and enhance liquidity while maintaining control over the subsidiary [1][4][5]. Financial Performance - As of the end of Q1 this year, the company's debt-to-asset ratio reached 89.02%, the highest in its history, indicating significant financial pressure [2][5]. - The company reported a total loss of 47.55 billion yuan for 2023 and 2024, with a net loss of 1.20 billion yuan in Q1 this year, although this represented a significant reduction in losses compared to previous periods [2][9]. - The operating revenue for Q1 this year was 2.04 billion yuan, reflecting a year-on-year increase of 5.22%, while the net profit attributable to shareholders showed a 35.51% improvement in loss reduction [9]. Capital Operation - The transfer of 国富瑞's shares is part of a strategy to optimize the subsidiary's equity structure and improve asset liquidity, with the proceeds from the transaction expected to support the company's operational development [1][5]. - After the transfer, 易华录 will still control 国富瑞 through agreements that allow it to maintain 51% of the voting rights, ensuring that the subsidiary remains a core part of its business [4][5]. Historical Context - Since its listing in 2011, the company has faced fluctuating performance, with a significant decline in revenue and net profit since 2021, leading to four consecutive years of losses totaling 52.01 billion yuan [7][8]. - The company has been undergoing a strategic transformation since 2015, focusing on data lake development and related sectors, which has contributed to its current financial challenges [7].

| 证券代码：300212 | 证券简称：易华录 | 公告编号：2025-034 | | --- | --- | --- | | 债券代码：148002 | 债券简称：22 华录 01 | | 北京易华录信息技术股份有限公司 关于 2024 年度股东大会增加临时提案暨 股东大会补充通知的公告 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。 北京易华录信息技术股份有限公司（以下简称"公司"）于2025年5月21日 在创业板指定信息披露平台巨潮资讯网（www.cninfo.com.cn）上披露了《关于 召开2024年度股东大会的通知》的公告。定于2025年6月10日以现场与网络投票 相结合的方式召开公司2024年度股东大会。 2025年5月30日，公司召开的第六届董事会第十三次会议审议通过了《关于 转让控股子公司部分股权暨关联交易的议案》，此项议案尚需需提交公司股东大 会审议。 2025年5月30日，公司董事会收到控股股东中国华录集团有限公司（持有公 司股份229,124,004股，占股本总数31.83%）以书面形式提交的《关于提请公司 增加2024年度股东大会临 ...

本公司及监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。 北京易华录信息技术股份有限公司（以下简称"公司"或"易华录"）第六 届监事会第八次会议于 2025 年 5 月 30 日（星期五）以现场会议的方式召开，会 议通知已于 2025 年 5 月 25 日以专人送达、邮件等方式送达全体监事。本次会议 应出席监事 3 名，实际出席会议监事 3 名，会议由监事会主席许海英女士主持。 本次会议的召集和召开符合《公司法》和《公司章程》的有关规定。 证券代码：300212 证券简称：易华录 公告编号：2025-031 债券代码：148002 债券简称：22 华录 01 北京易华录信息技术股份有限公司 第六届监事会第八次会议决议公告 北京易华录信息技术股份有限公司监事会 2025 年 5 月 30 日 1 经与会的监事充分讨论与审议，会议形成以下决议： 一、审议通过了《关于转让控股子公司部分股权暨关联交易的议案》 经审核，监事会认为：公司转让控股子公司国富瑞数据系统有限公司的部 分股权暨关联交易事项是基于公司战略发展规划，优化公司对外投资结构，符 合公司的实际情况。关联交易定价公允 ...