法律意见书 江苏泰和律师事务所 关于扬州扬杰电子科技股份有限公司 实施员工持股计划的 法律意见书 法律意见书 江苏泰和律师事务所 关于扬州扬杰电子科技股份有限公司 实施员工持股计划 的法律意见书 致：扬州扬杰电子科技股份有限公司 江苏泰和律师事务所（以下简称"本所"）接受扬州扬杰电子科技股份有限 公司（以下简称"扬杰科技"或"公司"）的委托，担任公司本次实施"奋斗者 计划（六期）"员工持股计划（以下简称"本次员工持股计划"）事项的专项法 律顾问。本所根据《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》"）、中国证券监督管理委员会（以 下简称"中国证监会"）发布的《关于上市公司实施员工持股计划试点的指导意 见》（2025 年修订）（以下简称"《指导意见》"）、《深圳证券交易所上市公司自 律监管指引第 2 号——创业板上市公司规范运作》（2025 年修订）（以下简称"《监 管指引第 2 号》"）等有关法律、法规及规范性文件的规定，出具本法律意见书。 对本所出具的本法律意见书，本所律师声明如下： 1.本所律师承诺依据本法律意见书出具日以前已经发生或存在的事实和我 ...

扬州扬杰电子科技股份有限公司 "奋斗者计划（六期）"员工持股计划 （草案）摘要 二〇二五年五月 扬州扬杰电子科技股份有限公司"奋斗者计划（六期）"员工持股计划（草案）摘要 声明 本公司及全体董事、监事保证本员工持股计划及其摘要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、准确性和完整性依法承担法律 责任。 2 扬州扬杰电子科技股份有限公司"奋斗者计划（六期）"员工持股计划（草案）摘要 风险提示 一、扬州扬杰电子科技股份有限公司（以下简称"扬杰科技"、"公司"） "奋斗者计划（六期）"员工持股计划（草案）须经公司股东大会批准后方可 实施，本次员工持股计划能否获得公司股东大会批准，存在不确定性。 二、有关公司"奋斗者计划（六期）"员工持股计划（以下简称"本员工 持股计划"）的具体的资金来源、出资金额、预计规模和具体实施方案等属 初步结果，能否完成实施，存在不确定性。 三、股票价格受公司经营业绩、宏观经济周期、国际/国内政治经济形势 及投资者心理等多种复杂因素影响。因此，股票交易是有一定风险的投资活 动，投资者对此应有充分准备。 四、敬请广大投资者谨慎决策，注意投资风险。 3 扬州扬杰电子科技股 ...

扬州扬杰电子科技股份有限公司 关于召开 2025 年第一次临时股东大会的通知 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。 证券代码：300373 证券简称：扬杰科技 公告编号：2025-043 一、召开会议的基本情况 1、股东大会届次：2025 年第一次临时股东大会。 2、股东大会的召集人：经公司第五届董事会第十六次会议审议通过，公司董事会决 定召开 2025 年第一次临时股东大会。 3、会议召开的合法、合规性：本次股东大会的召集程序符合有关法律法规、深圳证 券交易所业务规则和《公司章程》的要求。 4、会议召开的日期、时间： （1）现场会议时间：2025 年 6 月 16 日（星期一）下午 13:30。 （2）网络投票时间： 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 6 月 16 日 9:15- 9:25，9:30-11:30，13:00-15:00； 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 6 月 16 日 9：15-15：00。 5、会议的召开方式：本次股东大会采用现场表决与网络投票相结合的方式召 ...

证券代码：300373 证券简称：扬杰科技 公告编号：2025-042 扬州扬杰电子科技股份有限公司 审议结果：1 票同意，0 票反对，0 票弃权。公司监事徐萍女士、华伟女士参 与了本次员工持股计划，对本议案回避表决。鉴于非关联监事人数不足监事会人 数的半数，监事会无法形成决议，因此提交公司股东大会审议。 该议案尚需提交股东大会审议。 二、审议了《关于<扬州扬杰电子科技股份有限公司"奋斗者计划（六期）" 员工持股计划管理办法>的议案》 经核查，监事会认为：《扬州扬杰电子科技股份有限公司"奋斗者计划（六期）" 员工持股计划管理办法》的制定符合相关法律、法规及规范性文件的规定，能够 保证公司本次员工持股计划的顺利实施。 审议结果：1 票同意，0 票反对，0 票弃权。公司监事徐萍女士、华伟女士参 与了本次员工持股计划，对本议案回避表决。鉴于非关联监事人数不足监事会人 数的半数，监事会无法形成决议，因此提交公司股东大会审议。 第五届监事会第十六次会议决议公告 本公司及监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。 扬州扬杰电子科技股份有限公司（以下简称"公司"）于 2025 ...

证券代码：300373 证券简称：扬杰科技 公告编号：2025-041 扬州扬杰电子科技股份有限公司 第五届董事会第十六次会议决议公告 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。 扬州扬杰电子科技股份有限公司（以下简称"公司"或"扬杰科技"）于 2025 年 5 月 23 日以电子邮件和电话的方式发出关于召开公司第五届董事会第十六次会 议的通知，会议于 2025 年 5 月 30 日下午 15：00 在江苏省扬州市邗江区新甘泉 路 68 号公司 5 号厂区办公楼三楼会议室以通讯方式召开。 本次会议应到董事 9 人，实到董事 9 人。会议由董事长梁勤女士主持，公司 部分监事、高级管理人员列席了会议。本次会议的召开符合《中华人民共和国公 司法》和《公司章程》的有关规定。经与会董事审议，形成如下决议： 一、审议通过了《关于<扬州扬杰电子科技股份有限公司"奋斗者计划（六期）" 员工持股计划（草案）>及其摘要的议案》 为建立和完善劳动者与所有者的利益共享机制，进一步改善公司治理水平， 提高职工的凝聚力和公司竞争力，促进公司长期、持续、健康发展，充分调动公 司员工对公 ...

Investment Rating - The report assigns an "Accumulate" rating for the company, indicating a positive outlook based on its product matrix and expected performance recovery driven by cyclical recovery [5][7]. Core Views - The company is expected to benefit from a stable recovery in the power semiconductor industry, with a rich product matrix supported by both organic growth and acquisitions [5][6]. - The automotive electronics sector is highlighted as a key growth area, with significant demand expected from the electrification of vehicles [6][9]. - The report emphasizes the company's strategic acquisition of Better Electronics to enhance its product offerings and market presence [6][9]. Summary by Sections 1. Self-Development and Acquisition to Expand Product Categories - The company focuses on power semiconductors, with a collaborative development model across three main segments: materials, wafers, and packaged devices [15][18]. - The acquisition of Better Electronics is expected to enhance the company's product matrix and market reach [6][9]. 2. Traditional Power Devices: Solidifying the Foundation with Future Potential in Automotive Business - The global power device market is projected to grow steadily, with automotive applications leading the growth [9][59]. - The company has a comprehensive product line in traditional power devices, positioning itself well for future automotive electronics demand [6][9]. 3. Rich Product Line in Small Signal Products and Accelerated MOSFET Development - The company has a diverse range of small signal discrete devices and is enhancing its MOSFET product line to achieve import substitution [6][9]. 4. Continuous Launch of IGBT and Third-Generation Semiconductor New Products - The company is actively developing IGBT chips and high-voltage modules, with a focus on applications in AI servers, new energy vehicles, and industrial power [6][9]. 5. Earnings Forecast and Valuation - The forecast for net profit attributable to shareholders is projected to be 1.215 billion, 1.474 billion, and 1.732 billion RMB for 2025, 2026, and 2027 respectively, with year-on-year growth rates of 21.23%, 21.28%, and 17.50% [5][7]. - The current price-to-earnings ratio (P/E) is expected to decrease from 21 times in 2025 to 15 times in 2027, indicating potential for valuation improvement [5][7].

Investment Thesis - Yangjie Technology (300373) is positioned to benefit from the recovery of the power semiconductor market through a combination of self-built and acquisition strategies, particularly with the planned acquisition of 100% of Better Electronics by March 2025 [1][2] - The company has a diverse product matrix including materials, wafers, and packaging devices, which is expected to expand further with the acquisition [1] - The power semiconductor inventory destocking phase is nearing completion, leading to reduced inventory turnover days and a rebound in gross margins, indicating a potential industry stabilization [1] Automotive Sector Growth - Yangjie Technology has a strong foothold in traditional power devices, with a complete range of products in the automotive power device market, which was valued at $8.1 billion in 2022 and is projected to reach $16.7 billion by 2028, growing at a CAGR of 13% [1] - The company’s automotive product line is well-recognized for quality by major clients such as CATL, Aptiv, and BYD [1] Product Development and Innovation - The company is enhancing its small signal discrete devices and accelerating the development of high-end MOSFETs, aiming for import substitution in the MOSFET market, which is currently dominated by foreign brands [2] - Yangjie Technology is actively developing IGBT chips and third-generation semiconductor products, with plans for a SiC factory to be operational by 2024, targeting applications in AI servers, new energy vehicles, and industrial power [2] Financial Projections - The forecasted net profits for Yangjie Technology from 2025 to 2027 are projected to be 1.215 billion, 1.474 billion, and 1.732 billion yuan respectively, reflecting year-on-year growth rates of 21.23%, 21.28%, and 17.50% [3] - The current stock price corresponds to P/E ratios of 21, 17, and 15 for the years 2025, 2026, and 2027, respectively, which are significantly lower than the average P/E ratios of comparable companies [3]

Group 1 - The company is planning to acquire 100% equity of Dongguan Better Electronics Technology Co., Ltd. through a combination of issuing shares and cash payment [1][3] - This transaction is not expected to constitute a major asset restructuring as defined by the relevant regulations, nor will it result in a change of the company's actual controller [1][3] - The company has been actively progressing with the necessary audits, evaluations, and due diligence related to the transaction, which are proceeding as planned [3] Group 2 - The company has previously disclosed the transaction plan and has applied for a trading suspension to facilitate the process [2][3] - The board of directors has approved the transaction proposal, and further discussions on the transaction plan are ongoing [3] - The company will continue to disclose updates on the transaction progress every 30 days until the shareholders' meeting notification is issued [4]

证券代码：300373 证券简称：扬杰科技 公告编号：2025-040 扬州扬杰电子科技股份有限公司 关于筹划发行股份及支付现金购买资产并募集配套资金事项的 进展公告 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、扬州扬杰电子科技股份有限公司（以下简称"公司"）于 2025 年 3 月 27 日 披露的《扬州扬杰电子科技股份有限公司发行股份及支付现金购买资产并募集配套 资金预案》（以下简称"本次交易预案"）及其摘要中已对本次交易涉及的有关风险 因素及尚需履行的审批程序进行了详细说明，公司将根据相关事项的进展情况，及时 履行信息披露义务，提请广大投资者关注后续进展公告并注意投资风险。 2、截至本公告披露之日，除本次交易预案披露的风险因素外，公司尚未发现可 能导致公司董事会或者交易对方撤销、中止本次交易或者对本次交易方案作出实质 性变更的相关事项。本次交易相关工作正在有序进行中，公司将根据相关事项的进展 情况，及时履行信息披露义务。 一、本次交易概述 公司正在筹划以发行股份及支付现金方式购买东莞市贝特电子科技股份有限公 司 100%股权（以下简称 ...

Investment Rating - The industry investment rating is "Outperform" (maintained) [2] Core Insights - The profitability of the power semiconductor industry is steadily improving, with the automotive sector and data centers being the main growth drivers. The domestic production of medium and low voltage devices for automobiles is continuously advancing [4][7] - The penetration of SiC MOSFETs in new energy vehicles is increasing, with a notable rise in the market share of domestic suppliers in the IGBT module sector [38][39] - The overall industry is entering a stable phase, with demand from consumption and industrial control maintaining steady growth, while the new energy vehicle market continues to expand [6][21] Summary by Sections Power Semiconductor Performance - The industry is experiencing a recovery in profitability as revenues improve, with automotive and data center applications being the primary growth areas [4] - The sales volume of new energy vehicles in March reached 1.24 million units, a year-on-year increase of 40.1%, with a penetration rate of 42.4% [32][34] New Energy Vehicles - The market share of new energy vehicles with a peak power of over 200kW has increased from 9% in 2022 to 25% in the first quarter of 2025 [35] - The penetration rate of SiC MOSFETs in new energy vehicles reached 18.9% in the first quarter of 2025, indicating a shift towards higher power modules [38] Charging Infrastructure - The number of charging stations in March 2025 increased by 634,000 units, with public charging stations showing a year-on-year decrease of 18.35% [5] Market Dynamics - The competition among leading companies in the IGBT module market is stabilizing, with domestic suppliers gaining market share as overseas competitors decline [38][39] - The industry is expected to continue its growth trend in 2024, driven by the demand for automotive power devices and the ongoing transition to electric vehicles [6][21]