关于深圳市赢合科技股份有限公司 2024 年度涉及上海电气集团财务有限责任公司 存贷款业务情况的专项审核报告 上会师报字(2025)第 3352 号 上会会计师事务所（特殊普通合伙） 中国 上海 关于深圳市赢合科技股份有限公司 2024 年度涉及上海电气集团财务有限责任公司 存贷款业务情况的专项审核报告 上会师报字(2025)第 3352 号 深圳市赢合科技股份有限公司全体股东： 我们接受委托，在审计了深圳市赢合科技股份有限公司(以下简称"赢合科 技")2024 年 12 月 31 日的合并及公司的资产负债表，2024 年度合并及公司的利润表、 合并及公司的现金流量表和合并及公司的所有者权益变动表以及财务报表附注的基 础上，对后附的《深圳市赢合科技股份有限公司 2024 年度涉及上海电气集团财务有 限责任公司存贷款业务情况汇总表》(以下简称"汇总表")进行了专项审核。 一、管理层对汇总表的责任 中国 上海 二〇二四年三月二十七日 按照《深圳证券交易所上市公司自律监管指引第 7 号—交易与关联交易》的规 定，编制和披露汇总表，提供真实、合法、完整的审核证据，是赢合科技管理层的 责任。 二、注册会计师的责任 我们 ...

深圳市赢合科技股份有限公司2024年度非经营性资金占用及其他关联资金往来情况汇总表 单位：人民币万元 | 非经营性资金占用 | 资金占用方名称 | 占用方与上市公司的 | 上市公司核算的 | 2024年期初占用 | 2024年度占用累 计发生金额 | 2024年度占用资 | 2024年度偿还累 | 2024期末占用资 | 占用形成原因 | 占用性质 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 关联关系 | 会计科目 | 资金余额 | （不含利息） | 金的利息(如有) | 计发生金额 | 金余额 | | | | 控股股东、实际控制人 | | | | | | | | | | | | 及其附属企业 | | | | | | | | | | | | 小计 | - | - | - | | | | | | - | - | | 前控股股东、实际控制人 | | | | | | | | | | | | 及其附属企业 | | | | | | | | | | | | 小计 | - | - | - | | | | | | - ...

广东华商律师事务所 法律意见书 中国深圳福田区深南大道 4011 号港中旅大厦 21A-3 层、第 22A、23A、24A、25A、26A 层， 21A-3/F., 22A/F.,23A/F.,24A/F., 25A/F., 26A/F., CTS Tower, No.4011, ShenNan Road, ShenZhen, 电话（Tel.）：（86）0755-83025555；传真（Fax.）：（86）0755-83025068, 83025058 邮编(P.C.)：518048；网址（Website）：https://www.huashanglawyer.com 广东华商律师事务所 关于深圳市赢合科技股份有限公司 2022 年限制性股票激励计划 第一个解除限售期解除限售条件成就的 法律意见书 广东华商律师事务所 二○二五年三月 中国深圳福田区深南大道 4011 号香港中旅大厦 21A-3 层、第 22A、23A、24A、25A、26A 层 | 第一节 律师声明 | | --- | | 第二节 正 文 | | 一、本次解除限售的批准与授权 . | | 二、本次解除限售的相关事项 .. | | 三、结论意见 ...

Financial Performance - The company's total revenue for 2024 was approximately ¥8.52 billion, a decrease of 12.58% compared to ¥9.75 billion in 2023[18]. - Net profit attributable to shareholders for 2024 was approximately ¥503.16 million, down 9.14% from ¥553.80 million in 2023[18]. - The net cash flow from operating activities for 2024 was approximately ¥26.51 million, a significant decline of 98.11% compared to ¥1.40 billion in 2023[18]. - Basic earnings per share for 2024 were ¥0.78, down 8.24% from ¥0.85 in 2023[18]. - Total assets at the end of 2024 were approximately ¥14.76 billion, a decrease of 15.85% from ¥17.54 billion at the end of 2023[18]. - The company's net assets attributable to shareholders increased by 6.50% to approximately ¥6.58 billion at the end of 2024, compared to ¥6.17 billion at the end of 2023[18]. - The company reported a significant drop in quarterly net profit in Q4 2024, with only ¥7.37 million compared to previous quarters[20]. - The company reported a net loss from investment activities of approximately ¥17.29 million, primarily due to interest from bill discounting[73]. - The company’s financial derivatives reported a fair value loss of ¥1.89 million during the period[82]. - The company distributed cash dividends of RMB 113 million on July 3, 2024, amounting to RMB 1.75 per 10 shares, representing 20.4% of the net profit attributable to shareholders for 2023[108]. Strategic Initiatives - The company has outlined a strategic plan for 2024-2026, referred to as the "73 Strategy," focusing on market expansion and new product development[12]. - The company aims to become a global leader in lithium battery equipment manufacturing and the vaping industry, focusing on high-quality development[91]. - For 2025, the company plans to enhance international market expansion and customer-centric strategies, particularly in the lithium battery and vaping sectors[92]. - The company is considering strategic acquisitions to bolster its technology portfolio, with a budget of $200 million allocated for potential deals[141]. - The company is implementing a comprehensive digital transformation strategy, including the deployment of a product lifecycle management (PLM) system and an E-HR digital project[51]. Research and Development - The company has been investing in R&D to enhance product efficiency and reduce costs, aligning with national "dual carbon" strategies[41]. - The company has introduced over 30 high-end talents, including PhDs and Masters, to enhance its research capabilities and support cutting-edge technology projects[45]. - R&D investment amounted to ¥529,479,207.17 in 2024, a decrease of 26.67% from ¥721,780,220.05 in 2023, representing 6.21% of revenue[70]. - The company has completed the development of a high-speed coating and shell integration machine, which is expected to lower labor costs and improve production efficiency[69]. - The company has made significant advancements in autonomous technology, enhancing the consistency and safety of battery production[69]. Market Trends - In 2024, China's new energy passenger car sales are projected to reach 11.05 million units, reflecting a year-on-year growth rate of 40.2%[28]. - The global demand for energy storage batteries is expected to grow, with a projected shipment volume of 301 GWh in 2024, representing a 62.7% increase[29]. - The electronic cigarette business is expanding, with China's export value reaching $10.96 billion in 2024, covering 167 countries and regions[30]. - The global sales of new energy vehicles are projected to reach 17.63 million units in 2024, representing a year-on-year growth of 26.1%[40]. - The demand for global power batteries is expected to reach 894.4 GWh in 2024, with a year-on-year increase of 27.2%[40]. Operational Efficiency - The company has been focusing on optimizing its supply chain and procurement models, leading to continuous improvement in operational quality[41]. - The company has established a strict procurement management system, ensuring quality and service capabilities of suppliers before signing long-term contracts[34]. - Sales expenses decreased by 29.80% to ¥209,947,502.22 due to improved sales management[66]. - The company has successfully reduced operational costs by 8% through improved supply chain management[141]. - The company aims to improve organizational efficiency through a deep optimization of its organizational structure and the introduction of a talent efficiency management system[52]. Risk Management - The company is facing uncertainties regarding its ability to continue as a going concern, as indicated in the audit report[18]. - The company has implemented strict risk control measures for foreign exchange hedging, including a management system to avoid high-risk speculative trading[83]. - The company has implemented a multi-dimensional risk warning system for accounts receivable management to mitigate bad debt risks[99]. - The company faces risks from macroeconomic fluctuations and intensified competition in the lithium battery equipment sector, prompting a focus on new product development and cost management[98]. Corporate Governance - The company has a well-defined governance structure, including a shareholders' meeting, board of directors, and supervisory board[126]. - The company actively engages with investors through various communication channels, including investor surveys and annual performance briefings[118]. - The company has maintained a robust internal control system to mitigate operational risks and ensure compliance with regulations[170]. - The company ensures that its operations are independent from its controlling shareholders and actual controllers[120]. - The company has a commitment to maintain its independence from Shanghai Electric and its controlled entities[188]. Environmental and Social Responsibility - The company implemented a distributed rooftop photovoltaic project, generating over 7 million kWh of electricity, significantly reducing carbon emissions[177]. - The company established an environmental management system and energy management policies to promote low-carbon and energy-saving practices[177]. - The company actively engages in community support and social responsibility initiatives, including donations and volunteer activities[180]. - The company aims to align its operations with the national strategy for rural revitalization, contributing to social welfare[181]. Employee Management - The total number of employees at the end of the reporting period was 7,207, with 452 in the parent company and 6,755 in major subsidiaries[157]. - The company has implemented a comprehensive compensation management system based on market standards and industry benchmarks to stabilize and motivate employees[158]. - In 2024, the company will enhance organizational capabilities and employee effectiveness through an optimized training system, focusing on competency, new talent, and leadership development[159]. - The company has established a cloud learning platform and implemented a credit system to ensure employee learning progress and effectiveness[160].

各位股东及股东代表： 本人张玉兰作为深圳市赢合科技股份有限公司（以下简称"公司"）第五届 董事会独立董事，严格按照《公司法》《证券法》《上市公司独立董事管理办法》 《深圳证券交易所创业板股票上市规则》《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》等相关法律、法规及《公司章程》《独 立董事工作制度》《独立董事专门会议制度》等制度的规定，在 2024 年的工作 中，本着对全体股东负责的态度，忠实、勤勉地履行独立董事的职责与义务，按 时出席董事会和股东大会，认真审议董事会各项议案，切实维护公司和全体股东 尤其是中小股东的合法权益。现将本人 2024 年度任职期间履行独立董事职责情 况报告如下： 一、独立董事的基本情况 （一）独立董事工作履历、专业背景及兼职情况 张玉兰，中国国籍，无境外永久居留权，1978 年出生，本科毕业于中国人 民大学新闻专业，现任中国化学与物理电源行业协会动力电池应用分会秘书长、 中国化学与物理电源行业协会监事会监事、中国电池工业协会副秘书长、氢能与 燃料电池分会秘书长。电池中国网创始人、CEO。新能源汽车和动力电池产业活 动资深策划人，资深媒体人。现任公司独立董 ...

深圳市赢合科技股份有限公司 关于董事、监事和高级管理人员所持公司股份变动管理制度 第一章 总则 第一条 为加强深圳市赢合科技股份有限公司(以下简称"公司"或"本公 司")董事、监事和高级管理人员持有、买卖本公司股票及其衍生品种的管理， 维护证券市场秩序，根据《公司法》《证券法》《上市公司董事、监事和高级管 理人员所持本公司股份及其变动管理规则》《上市公司股东减持股份管理暂行办 法》《深圳证券交易所创业板股票上市规则》等有关法律、法规、规范性文件及 公司章程，结合公司实际情况，制定本制度。 第二条 本制度适用于公司董事、监事、高级管理人员持有、买卖本公司股 票及其衍生品种的管理。公司董事、监事和高级管理人员委托他人代行买卖股票， 视作本人所为，也应遵守本办法并履行相关询问和报告义务。公司董事、监事和 高级管理人员所持本公司股份是指登记在其名下和利用他人账户持有的所有本 公司股份；从事融资融券交易的，还包括记载在其信用账户内的本公司股份。 第三条 公司董事、监事、高级管理人员在买卖本公司股票及其衍生品种前， 应当知悉《公司法》《证券法》等法律、法规、规范性文件关于内幕交易、操纵 市场、短线交易等禁止行为的规定，不 ...

深圳市赢合科技股份有限公司 2024 年度独立董事述职报告 （余爱水） 各位股东及股东代表： 本人余爱水作为深圳市赢合科技股份有限公司（以下简称"公司"）第四届 董事会和第五届董事会独立董事，严格按照《公司法》《证券法》《上市公司独 立董事管理办法》《深圳证券交易所创业板股票上市规则》《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》等相关法律、法规及 《公司章程》《独立董事工作制度》《独立董事专门会议制度》等制度的规定， 在 2024 年的工作中，本着对全体股东负责的态度，忠实、勤勉地履行独立董事 的职责与义务，按时出席董事会和股东大会，在董事会中发挥参与决策、监督制 衡、专业咨询作用，切实维护公司和全体股东尤其是中小股东的合法权益。现将 本人 2024 年度任职期间履行独立董事职责情况报告如下： 一、独立董事的基本情况 （一）独立董事工作履历、专业背景及兼职情况 余爱水，中国国籍，无境外永久居留权，1966 年出生，理学博士，复旦大 学教授、博士生导师，上海市"浦江人才计划"获得者，中国电池协会常务理事， 中国颗粒学会赢创奖获得者。1993 年加入复旦大学；先后在日本岩手大学、新 ...

深圳市赢合科技股份有限公司 2024 年度独立董事述职报告 （李博） 各位股东及股东代表： 本人李博作为深圳市赢合科技股份有限公司（以下简称"公司"）第五届董 事会独立董事，严格按照《公司法》《证券法》《上市公司独立董事管理办法》 《深圳证券交易所创业板股票上市规则》《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》等相关法律、法规及《公司章程》《独 立董事工作制度》《独立董事专门会议制度》等制度的规定，在 2024 年的工作 中，本着对全体股东负责的态度，忠实、勤勉地履行独立董事的职责与义务，按 时出席董事会和股东大会，积极发挥独立董事作用，促进公司规范运作，切实维 护公司和全体股东尤其是中小股东的合法权益。现将本人 2024 年度任职期间履 行独立董事职责情况报告如下： 一、独立董事的基本情况 （一）独立董事工作履历、专业背景及兼职情况 李博，中国国籍，无境外永久居留权，1980 年出生，理学硕士，中国注册 会计师、香港会计师公会会员、英国特许会计师公会资深会员。曾任安永华明会 计师事务所（特殊普通合伙）上海分所审计合伙人，阿里巴巴集团副总裁及淘天 集团首席财务官，现任杭州泊含信 ...

证券代码：300457 证券简称：赢合科技 公告编号：2025-009 根据《深圳证券交易所上市公司自律监管指引第9号——回购股份》等相关 规定，公司应当在每个月的前三个交易日内披露截至上月末的回购进展情况。现 将公司回购股份的进展情况公告如下： 一、回购公司股份的进展情况 截至2025年2月28日，公司通过回购专用证券账户以集中竞价交易方式实施 股份回购，累计回购股份数量为980,000股，占公司目前总股本的0.15%，最高成 交价为20.99元/股，最低成交价为20.55元/股，成交总金额为20,375,338元（不 含交易费用）。本次回购符合公司回购股份方案及相关法律法规的要求。 二、其他说明 公司回购股份的时间、回购股份数量、集中竞价交易的委托时间及交易价格 等均符合《深圳证券交易所上市公司自律监管指引第9号——回购股份》及公司 回购股份方案的相关规定。具体如下： 1 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。 深圳市赢合科技股份有限公司（以下简称"公司"）于2025年1月23日召开 的第五届董事会第十五次会议、第五届监事会第十一次会议，审议通过了 ...

Investment Rating - The report assigns a "Buy" rating for the company with a target price of 47.40 CNY based on a 30X PE for 2025, corresponding to a market value of 307.89 billion CNY [5]. Core Insights - The company is a leading player in the lithium battery equipment sector and is expanding into the electronic cigarette market, which is expected to drive growth [1][4]. - In 2023, the company achieved a revenue of 9.75 billion CNY, a year-on-year increase of 8.09%, and a net profit attributable to shareholders of 554 million CNY, up 13.62% year-on-year [1][19]. - The electronic cigarette business generated 3.34 billion CNY in revenue in 2023, accounting for 34% of total revenue, showcasing its significant contribution to overall growth [1][19]. Summary by Sections 1. Lithium Battery Equipment Leadership - The company has established itself as a leader in lithium battery equipment, focusing on key processes such as coating, rolling, cutting, and assembly, with a strong emphasis on innovation and R&D [1][13]. - The company’s R&D expenses reached 722 million CNY in 2023, a 49.46% increase, reflecting its commitment to technological advancement and product quality [2][28]. 2. Solid-State Battery Market Potential - The company is well-positioned to capitalize on the solid-state battery market, having developed advanced stacking technology essential for this new battery type [2][32]. - The global demand for electric vehicles is increasing, with European sales reaching 2.95 million units in 2023, a 13.46% year-on-year growth, which is expected to drive the demand for lithium battery equipment [2][32]. 3. Electronic Cigarette Business Growth - The electronic cigarette segment, particularly through the SKE brand, has become a significant growth driver, with successful FDA approvals enhancing market competitiveness [3][19]. - The company is expanding its presence in the U.S. market, with exports expected to reach 1.814 billion USD in the first half of 2024, a 21.92% increase year-on-year [3][19]. 4. Financial Projections - The company forecasts net profits of 701 million CNY, 1.026 billion CNY, and 1.382 billion CNY for 2024, 2025, and 2026 respectively, indicating strong growth potential [4][19]. - The revenue from lithium battery equipment is projected to remain robust, supported by increasing demand from the electric vehicle sector [4][19].