本所律师声明如下： （一）本所律师根据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、误导性陈述或者重大遗漏，并承担相应法律责任。 湖南启元律师事务所（以下简称"本所"）接受楚天科技股份有限公司（以下 简称"公司"）的委托，指派本所律师列席了公司 2025 年第一次临时股东会（以 下简称"本次股东会"），对本次股东会的召集和召开程序、出席会议人员及召集 人的资格、表决程序和表决结果的合法有效性进行现场律师见证，并发表本法律 意见。 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》"）等我国现行法律、法规、规范性文件以及《楚天科技股份有限公司 章程》（以下简称"《公司章程》"）的有关规定出具本法律意见。 湖南启元律师事务所 关于楚天科技股份有限公司 2025年第一次临时股东会的 法律意见书 致：楚天科技股份有限公司 （二）本所律师 ...

Core Viewpoint - Chutian Technology's stock has experienced a decline of 5.02% over the past three days, with a current price of 8.13 CNY per share and a market capitalization of 4.799 billion CNY [1] Group 1: Company Overview - Chutian Technology Co., Ltd. is located in Ningxiang, Changsha, Hunan Province, and was established on November 8, 2002, with its listing date on January 21, 2014 [1] - The company's main business involves pharmaceutical equipment and comprehensive technical solutions, with revenue composition as follows: - Testing and packaging solutions: 24.88% - Accessories and after-sales service: 16.44% - Bioengineering solutions: 14.84% - Aseptic preparation solutions: 14.61% - Pharmaceutical water equipment and engineering system integration: 13.81% - Solid preparation solutions: 10.85% - EPC engineering design services: 3.57% - Other products: 0.73% - Other (supplementary): 0.28% [1] Group 2: Shareholder Information - The top circulating shareholder of Chutian Technology is the Guoshou Anbao Fund, which holds 4.0473 million shares of the Guoshou Anbao Smart Life Stock A fund (001672), representing 0.7% of the circulating shares [2] - The fund has experienced a floating loss of approximately 202,400 CNY today and a total floating loss of 1.7403 million CNY during the three-day decline [2] - Guoshou Anbao Smart Life Stock A fund was established on September 1, 2015, with a current scale of 1.828 billion CNY and has achieved a year-to-date return of 31.88% [2]

Core Viewpoint - The "Lai Fu Initiative" was launched by Kexing Group and 70 other companies in the biopharmaceutical sector at the 2025 Supply Chain Ecological Conference, aiming to foster global cooperation in China's health industry and share market opportunities and development benefits [1] Group 1: Industry Trends - The biopharmaceutical industry is undergoing a transformative wave driven by innovation, reshaping the industry landscape and becoming a key force for economic growth and technological innovation [1] - The initiative emphasizes the need for collaborative research platforms to overcome key bottlenecks in drug and vaccine development, promoting shared technological achievements and accelerating product innovation cycles [1] Group 2: Market Opportunities - Industry experts believe that the current uncertainties in the sector may conceal greater opportunities for growth [1] - Kexing Group's CEO highlighted that the integration of biotechnology and AI technology is reshaping health demands and unlocking significant growth opportunities, with China leveraging its 1.4 billion domestic market to establish a global strategy in biotechnology [1]

Overview - The demand for cell culture bags in China is rapidly increasing due to the growth of downstream markets such as biopharmaceuticals, cell therapy, and gene therapy, with a projected demand of 9.723 million units in 2024, a year-on-year increase of 24.53% [1][8] - The market size for cell culture bags is expected to reach 1.05 billion yuan in 2024, reflecting a year-on-year growth of 21.06% [1][8] - Factors such as an aging population and increasing health awareness are driving the demand for biopharmaceutical products, further boosting the cell culture bag market [1][8] Market Policies - A series of supportive policies have been issued in China, including the "14th Five-Year Plan for the Development of the Pharmaceutical Industry" and guidelines for the production quality management of cell therapy products, creating a favorable environment for the development of the cell culture bag industry [6][7] Industry Chain - The upstream of the cell culture bag industry includes suppliers of raw materials like polyethylene and polypropylene, while the midstream involves R&D and production, and the downstream encompasses applications in biopharmaceuticals, cell therapy, and research [7][8] - Biopharmaceuticals account for over 40% of the demand for cell culture bags, primarily used in the production of monoclonal antibodies, recombinant proteins, and vaccines [8] Current Development - The cell culture bag market in China is expanding, with a projected demand of 9.723 million units and a market size of 1.05 billion yuan in 2024, driven by the rapid growth of the biopharmaceutical market [1][8] Competitive Landscape - The market is becoming increasingly competitive, with foreign companies like ThermoFisher Scientific and Corning holding significant market shares due to their advanced technology and product quality [9][10] - Domestic companies such as Guangzhou Jiet Biofilter Co., Ltd. and Wuhan Saikecheng Technology Co., Ltd. are enhancing their R&D efforts and product quality, gradually increasing their market share and competitiveness [10][11] Development Trends - The demand for single-use cell culture bags is expected to continue rising due to their advantages in reducing contamination risks and simplifying operations [12] - There is a growing focus on developing biodegradable or recyclable single-use bags to align with environmental sustainability goals [12] - Domestic companies are expected to narrow the technology gap with foreign products, leading to increased market share and potential international expansion [12]

Core Viewpoint - The financial performance of Chutian Technology (300358) for the first half of 2025 shows a decline in revenue but an improvement in profitability metrics, indicating a potential recovery strategy in place. Financial Performance - The total revenue for the first half of 2025 was 2.417 billion yuan, a year-on-year decrease of 14.55% [1] - The net profit attributable to shareholders was -12.3046 million yuan, a year-on-year increase of 85.11% [1] - In Q2 2025, revenue was 1.334 billion yuan, down 7.15% year-on-year, while the net profit attributable to shareholders was -3.7477 million yuan, up 93.93% year-on-year [1] - The gross margin increased by 10.04% year-on-year, reaching 30.29%, while the net margin improved by 78.65% [1] - Total operating expenses (sales, management, and financial expenses) amounted to 554 million yuan, accounting for 22.91% of revenue, an increase of 12.31% year-on-year [1] Business Model and Strategy - The company relies heavily on research and marketing to drive its performance, with a historical median ROIC of 6.73% over the past decade, indicating weak investment returns [2] - The company has been focusing on improving operational quality since the second half of 2024, with significant efforts in international business expansion, which saw nearly 40% growth in overseas revenue in the first half of 2025 [3] - Domestic order quality is reportedly improving, with new orders' gross margins gradually returning to normal levels despite a competitive domestic market [3] - The company is committed to cost reduction and efficiency improvements across management, research, procurement, and manufacturing [3] Investment Insights - The most significant fund holding Chutian Technology is Nord New Prosperity, with a current scale of 21 million yuan and a recent net value of 1.2999, reflecting a 28.83% increase over the past year [2]

Core Viewpoint - Chutian Technology held a conference call with 13 institutions, discussing its operational performance and strategic direction for 2025, highlighting a focus on improving operational quality and international business expansion [1] Group 1: Operational Performance - In the first half of 2025, the company achieved revenue of 2.417 billion yuan, a year-on-year decrease of 14.55%, with a non-recurring net profit loss of 49 million yuan, although the loss margin significantly narrowed compared to the previous year [1] - The company is confident in turning a profit in 2025, driven by significant growth in overseas revenue, which increased nearly 40% in the first half of 2025, and improvements in domestic order quality [1] Group 2: International Business Development - The company reported strong performance in international markets, particularly in the Middle East, Africa, and Southeast Asia, with notable breakthroughs in cooperation with leading international pharmaceutical companies [1] - The Romaco Group, a subsidiary, is experiencing steady improvement in operations, with no immediate plans for overseas capacity expansion [1] Group 3: Industry Competition and Profitability Outlook - The domestic market remains highly competitive and price-sensitive, but the company believes that price competition has reached its bottom [1] - The company plans to enhance operational quality by selectively abandoning low-margin orders while aiming for an overall improvement in gross margin levels throughout the year [1]

Group 1: Financial Performance - In the first half of 2025, the company achieved revenue of 2.417 billion yuan, a decrease of 14.55% compared to the same period last year [2] - The non-recurring net profit loss was 49 million yuan, significantly narrowing compared to the previous year [2] - The overall gross margin improved from approximately 26% in 2024 to nearly 30% in the first half of 2025, indicating enhanced operational and contract quality [4] Group 2: Business Strategy and Operations - The company is focusing on improving operational quality, with efforts including increased international business expansion, which saw nearly 40% growth in overseas revenue in the first half of 2025 [2] - Domestic order quality is improving, with new order gross margins gradually returning to normal levels despite intense competition in the domestic market [2] - The company is actively pursuing cost reduction and efficiency improvements across management, R&D, procurement, and manufacturing [2] Group 3: International Business Development - The company’s international business has seen significant changes, with major pharmaceutical companies beginning supplier audits, leading to breakthroughs in cooperation [3] - In the first half of 2025, the company experienced strong growth in the Middle East and Southeast Asia, with hopes of increasing the proportion of international business in the coming years [2][3] - Romaco Group, a subsidiary, is performing well with steady improvements, and currently has no plans for further overseas capacity expansion [3] Group 4: Market Conditions and Competition - The domestic market remains competitive, with price sensitivity; however, the price competition has improved compared to last year, suggesting a bottoming out of pricing pressures [3] - The company plans to selectively abandon low-margin orders to enhance operational quality while maintaining scale [3]

Group 1 - The core viewpoint of the news is that Chutian Technology's stock has experienced a decline of 5.07%, with a current price of 8.23 yuan per share and a total market capitalization of 4.858 billion yuan [1] - Chutian Technology, established on November 8, 2002, and listed on January 21, 2014, is based in Changsha, Hunan Province, and specializes in pharmaceutical equipment and comprehensive technical solutions [1] - The company's main business revenue composition includes: testing and packaging solutions (24.88%), parts and after-sales services (16.44%), biological engineering solutions (14.84%), sterile preparation solutions (14.61%), pharmaceutical water equipment and engineering system integration (13.81%), solid preparation solutions (10.85%), EPC engineering design services (3.57%), and other products (1.01%) [1] Group 2 - Among the top circulating shareholders of Chutian Technology, Guoshou Anbao Fund holds a position with its fund, Guoshou Anbao Smart Life Stock A, maintaining 4.0473 million shares, representing 0.7% of circulating shares [2] - The fund has achieved a year-to-date return of 35.49% and a one-year return of 88.27%, ranking 623 out of 4222 and 416 out of 3776 respectively in its category [2] - The fund manager, Zhang Qi, has a tenure of 15 years and 56 days, with the fund's total asset size at 2.317 billion yuan and a best return of 160.76% during his tenure [2]

Core Viewpoint - Chutian Technology reported a significant reduction in losses for the first half of 2025, with a revenue of 2.417 billion yuan and a net profit attributable to shareholders of -12.3046 million yuan, marking an 85.11% year-on-year improvement in loss reduction [1] Group 1: Financial Performance - The company achieved a revenue of 2.417 billion yuan in the first half of 2025, with a net profit attributable to shareholders of -12.3046 million yuan, reflecting an 85.11% reduction in losses compared to the previous year [1] - The gross profit margin for the main business reached 30.35%, an increase of 3.38 percentage points year-on-year, with specific segments like sterile preparation solutions and EPC engineering design services showing significant margin improvements [2] Group 2: Cost Reduction and Efficiency - Chutian Technology implemented various cost-cutting measures, including optimizing new product development, streamlining procurement costs, and enhancing production efficiency, resulting in a decrease in sales, management, and R&D expenses by 7.40%, 10.03%, and 25.95% respectively [2] - The company successfully added 52 new invention patents, further solidifying its innovation advantage while controlling costs [2] Group 3: International Market Expansion - The company's overseas revenue reached 1.09 billion yuan in the first half of 2025, representing a year-on-year growth of 39.80%, with the Americas showing a remarkable increase of 318.99% [3] - Chutian Technology is actively building partnerships with leading pharmaceutical companies in the Middle East and Africa, aiming to leverage its technological and service advantages in emerging markets [3]

Group 1 - The company announced that board member Tang Peihui submitted a written resignation due to personal reasons [1] - Following the resignation, Tang Peihui will no longer hold any position within the company [1]