北京市中伦律师事务所 关于电连技术股份有限公司 2024 年度股东大会的 法律意见书 二〇二五年五月 致：电连技术股份有限公司 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》以及中国证券监督管理委员会（以下简称"中国证监会"）发布 的《上市公司股东会规则》的规定，北京市中伦律师事务所（以下简称"本所"） 接受电连技术股份有限公司（以下简称"公司"）的委托，指派本所律师列席公 司 2024 年度股东大会（以下简称"本次股东大会"），对本次股东大会的相关 事项进行见证并出具法律意见。 | 一、本次股东大会的召集、召开程序 2 | | --- | | 二、出席本次股东大会人员资格 2 | | 三、本次股东大会的表决程序 3 | | 四、结论意见 7 | 北京市中伦律师事务所 关于电连技术股份有限公司 2024 年度股东大会的 法律意见书 为出具本法律意见书，本所律师审查了公司提供的包括但不限于如下相关文 件： 1. 公司现行有效的公司章程； 2. 公司于 2025 年 4 月 23 日刊登于巨潮资讯网（www.cninfo.com.cn）的第 四届董事会第三次会议决议公告、第四届 ...

Group 1: Company Performance Highlights - The company achieved a revenue of ¥4,661,219,937.52 in 2024, representing a growth of 48.97% compared to the previous year [3] - Net profit attributable to shareholders reached ¥622,308,886.15, marking a 74.73% increase year-on-year [3] - The net cash flow from operating activities was ¥511,044,075.67, up by 57.99% from the previous year [3] Group 2: Product Performance and Market Demand - RF connectors and interconnect systems have a high and stable market share in the mobile terminal sector [2] - The electromagnetic compatibility components have made significant progress in non-mobile consumer electronics, achieving large-scale production and delivery to key clients [2] - Automotive connector revenue has seen rapid growth, with a market share continuously increasing [2] Group 3: Strategic Plans and Future Outlook - The company plans to focus on the 5G technology and AI mobile sectors while expanding its overseas customer base in non-mobile consumer electronics [2] - Future product development will include enhancing Ethernet products related to automotive intelligence and expanding into fields like humanoid robots and AI data centers [2] - The company aims to strengthen its domestic production capabilities to meet the growing demand for automotive connectors as China increases its automotive production capacity [5] Group 4: Challenges and Improvement Measures - The company acknowledges that its overseas business has room for profit margin improvement compared to domestic operations [4] - Management will be optimized to enhance efficiency and address challenges in overseas operations [4] - The company has no current plans for mergers or acquisitions but will seek opportunities for collaboration and capital operations to enhance synergy [5] Group 5: Financial Health and Shareholder Returns - The company maintains a low debt ratio, with a consolidated debt ratio of 30.49% and a parent company debt ratio of 27.48% [12] - The company has consistently returned profits to investors and aims to balance development with shareholder returns through reasonable profit distribution plans [6] Group 6: Market Position and Competitive Edge - The company is a leading supplier in the domestic RF connector industry and has entered the supply chains of major global smartphone brands [9] - It has been recognized as one of the top 100 electronic component enterprises in China for nine consecutive years [9] - The company is committed to quality and service, which has been a key strategy for increasing market share [11]

一、本员工持股计划的股票来源及数量 本员工持股计划股票来源为公司回购专用证券账户回购的电连技术 A 股普通股股 票。 公司于 2022 年 1 月 28 日召开了第三届董事会第三次会议和第三届监事会第三次 会议、于 2022 年 2 月 14 日召开了 2022 年第二次临时股东大会，会议分别逐项审议通 过了《关于回购公司股份方案的议案》，同意公司使用自有资金以集中竞价交易方式 回购公司发行的人民币普通股（A 股）股票的部分社会公众股份，用于实施股权激励 或员工持股计划。截至 2022 年 5 月 13 日，公司上述回购股份方案已实施完毕，公司 通过股份回购专用证券账户以集中竞价交易方式累计回购公司股份 2,064,500 股，占公 司当时总股本的 0.4901%，最低成交价为 32.06 元/股，最高成交价为 51.20 元/股，成交 总金额为人民币 100,035,844.12 元（不含佣金、过户费等交易费用）。具体内容详见公 证券代码：300679 证券简称：电连技术 公告编号：2025-042 电连技术股份有限公司 关于 2025 年员工持股计划非交易过户完成的公告 本公司及董事会全体成员保证信息披露 ...

Group 1 - The core viewpoint is that the intelligent vehicle sector is experiencing significant growth, driven by consumer demand and government incentives, particularly in the context of the recent "trade-in" subsidy program [1][2] - The intelligent vehicle ETF, Taikang (159720), has seen a 1.61% increase, with the underlying index, the CSI Intelligent Electric Vehicle Index (H11052), rising by 1.43% [1] - The retail sales of new energy passenger vehicles reached 2.42 million units in the first quarter, marking a 36.4% year-on-year growth, with a market penetration rate of 47.2% [1] Group 2 - Minsheng Securities highlights that the intelligentization of vehicles is becoming a crucial competitive factor, with a notable shift in technology and user acceptance [2] - The intelligent driving sector is approaching a triple inflection point in technology, user acceptance, and business models, particularly benefiting leading domestic automakers [2] - The CSI Intelligent Electric Vehicle Index includes companies involved in various aspects of the intelligent electric vehicle ecosystem, reflecting the overall performance of listed companies in this sector [2]

Group 1 - Major shareholders of *ST WanFang plan to reduce their holdings by up to 9,341,596 shares, accounting for 3% of the company's total share capital from May 27 to August 25, 2025 [1] - Shareholders of Airo Energy intend to reduce their holdings by up to 800,000 shares, 800,000 shares, and 1,600,000 shares, representing 0.50%, 0.50%, and 1% of the company's total share capital respectively during the same period [1] - Anner plans to reduce its holdings by up to 3,186,159 shares, which is 1.5% of the company's total share capital, from May 27 to August 26, 2025 [1] Group 2 - Shareholders of Chuhuan Technology plan to reduce their holdings by up to 2,395,605 shares, accounting for 3% of the total share capital excluding repurchased shares from May 27 to August 26, 2025 [1] - Major shareholder of Dalian Technology intends to reduce their holdings by up to 4,189,336 shares, which is 0.99% of the company's total share capital from May 27 to August 26, 2025 [2] - Dongwei Technology's board members plan to reduce their holdings by a total of 2,574,857 shares, representing 0.8629% of the company's total share capital during the same period [2] Group 3 - Gann Li Pharmaceutical's shareholder has completed a reduction of 6,010,622 shares, which is 1% of the company's total share capital from April 22 to April 30, 2025 [2] - Guanshi Technology's board members plan to reduce their holdings by up to 359,375 shares, accounting for 0.4891% of the company's total share capital from May 27 to August 26, 2025 [2] - Guoguang Electric's shareholder has completed a reduction of 1,625,751 shares, which is 1.5% of the company's total share capital from April 25 to April 30, 2025 [2] Group 4 - Haili Biological's major shareholder has completed a reduction of 13,113,244 shares, representing 2% of the company's total share capital from April 15 to April 22, 2025 [3] - Hengfeng Information's board member has completed a reduction of 198,717 shares, which is 0.1207% of the company's total share capital on April 28, 2025 [3] - Hongwei Technology's shareholder plans to reduce their holdings by up to 820,000 shares, accounting for 0.39% of the company's total share capital from May 12 to August 11, 2025 [3] Group 5 - Huatai Medical's vice president has completed a reduction of 29,943 shares, which is 0.0308% of the company's total share capital from April 28 to April 29, 2025 [4] - Jilin Carbon Valley's major shareholder has completed a reduction of 4,989,160 shares, representing 0.8490% of the company's total share capital from April 25 to April 29, 2025 [4] - Jiahua Technology's shareholder plans to reduce their holdings by up to 1,160,000 shares, accounting for 1.50% of the company's total share capital from May 28 to August 25, 2025 [4] Group 6 - Jiangbo Long's shareholder plans to reduce their holdings by up to 4,159,815 shares, which is 1% of the company's total share capital from May 27 to August 26, 2025 [5] - Jiangshan Co. plans to reduce its holdings in Jiangtian Chemical by 4,330,800 shares, accounting for 3% of its total share capital from May 27 to August 26, 2025 [5] - Kairun Co.'s major shareholder plans to reduce their holdings by up to 9,000,000 shares, representing 2.43% of the total share capital excluding repurchased shares from May 27 to August 26, 2025 [5] Group 7 - Lianqi Technology's shareholders plan to reduce their holdings by a total of 18,717,374 shares, which is 2.96% of the total share capital excluding repurchased shares from May 27 to August 26, 2025 [9] - Zhongke Information's board members have completed a reduction of 698,914 shares, representing 0.2358% of the company's total share capital [9] - Zhongshi Co.'s major shareholder plans to reduce their holdings by up to 1,800,000 shares, accounting for 1.1527% of the company's total share capital from May 27 to August 26, 2025 [10]

电连技术股份有限公司 关于持股 5%以上股东减持股份预披露公告 持股 5%以上股东任俊江先生保证向本公司提供的信息内容真实、准确、完 整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 特别提示： 持有公司股份 29,924,629 股（占公司总股本比例为 7.06%，占扣除回购专户股 数后总股本比例为 7.14%）的股东任俊江先生计划在本公告披露之日起 15 个交易 日后 3 个月内（2025 年 5 月 27 日至 2025 年 8 月 26 日）以集中竞价方式减持公司 股份不超过 4,189,336 股，占公司总股本比例为 0.99%，占扣除回购专户股数后总 股本比例为 1%。若减持期间公司有送股、资本公积金转增股本等股份变动事项， 减持股份数量进行相应调整。 电连技术股份有限公司（以下简称 "公司"）于近日收到持股 5%以上股东任 俊江先生出具的《关于股东减持计划的告知函》，现将有关情况公告如下： | 股东名称 | 持有公司股份数量（股） | 占公司总股本比例 | 占扣除回购专户股数后总股 | | --- | --- | --- | --- | ...

Core Viewpoint - Major shareholder Ren Junjiang of Dianlian Technology (300679) plans to reduce his stake in the company by up to 4.1893 million shares, representing 0.99% of the total share capital, between May 27, 2025, and August 26, 2025 [1] Summary by Category - Shareholder Action - Ren Junjiang, holding more than 5% of shares, intends to sell up to 4.1893 million shares [1] - The planned reduction will occur through centralized bidding [1] - The timeframe for this share reduction is set from May 27, 2025, to August 26, 2025 [1]

Investment Rating - The investment rating for the company is "Buy" and is maintained [7]. Core Views - The report highlights that short-term performance fluctuations do not alter the long-term growth trajectory of the company [5][11]. - The company experienced significant improvement in Q4 2024 performance, primarily due to the increased contribution from the automotive business [5][11]. - For Q1 2025, the company reported a decline in net profit, attributed to several factors including a decrease in gross margin and reduced investment income [11]. Financial Performance Summary - In Q4 2024, the company achieved revenue of 1.328 billion yuan, representing a year-on-year growth of 43.72% and a quarter-on-quarter growth of 11.78%. The net profit attributable to the parent company was 164 million yuan, up 50.54% year-on-year and 8.40% quarter-on-quarter [5][11]. - The gross margin for Q4 2024 was 33.34%, an increase of over 2 percentage points year-on-year [5][11]. - In Q1 2025, the company reported revenue of 1.196 billion yuan, a year-on-year increase of 15.02%, but the net profit decreased by 23.80% year-on-year [5][11]. Business Segment Performance - In 2024, the automotive connector segment generated revenue of 1.461 billion yuan, a year-on-year increase of 77.42%, with a gross margin of 39.35% [11]. - The RF connector segment reported revenue of 1.04 billion yuan, up 30.12% year-on-year, with a gross margin of 43.16% [11]. - The EMC components segment achieved revenue of 913 million yuan, a year-on-year increase of 14.75%, with a gross margin of 30.78% [11]. - The soft board segment saw revenue of 538 million yuan, a year-on-year increase of 73.06%, with a gross margin of 12.61% [11]. Future Outlook - The company is expected to benefit from the trend of automotive intelligence, which will drive demand for high-frequency and high-speed connectors [11]. - The report projects that the net profit attributable to the parent company will reach 812 million yuan, 1.023 billion yuan, and 1.245 billion yuan for the years 2025, 2026, and 2027, respectively [11].

点击招商研究小程序查看PDF报告原文 事件： 公司发布 2024 年及 25Q1 业绩， 24 全年营收 46.6 亿元，同比 +49.0% ，归母净利润 6.2 亿元，同比 +74.7% 。 25Q1 公司营收 11.96 亿元，同比 +15.0%/ 环比 -9.9% ；归母净利润 1.23 亿元，同比 -23.8%/ 环比 -24.7% 。我们点评如下： 24 全年收入及净利润同比高增，汽车、软板等业务贡献业绩增量。 24 全年营收 46.6 亿元，同比 +49.0% ，归母净利润 6.2 亿元，同比 +74.7% ，扣非归母净利润 6.1 亿元，同比 +75.6% ；毛利率 33.64% ，同比 +1.26pct 。分业务看， 24 全年公司汽车连接器 / 射频连接器及线缆组件 / 电磁兼容 件 / 软板 / 其他主营业务营收分别为 14.6/10.4/9.1/5.4/7.1 亿元，同比 +77.4%/30.1%/14.8%/73.1%/ 77.4% ；毛利率 39.4%/43.2%/30.8%/12.6%/27.6% ，同比 -0.7/+0.8/+1.7/+6.5/ +3.9pct 。其中 1 ） 汽 ...

Investment Rating - The report maintains an "Outperform" rating for the company [1] Core Insights - The company reported a revenue of 4.661 billion yuan for 2024, representing a year-on-year growth of 48.97%, and a net profit of 622 million yuan, with a year-on-year increase of 74.73% [6] - In Q1 2025, the company achieved a revenue of 1.196 billion yuan, reflecting a year-on-year growth of 15.02%, while the net profit was 123 million yuan, showing a year-on-year decline of 23.8% [6] - The automotive connector segment has shown significant growth, with revenue reaching 1.46 billion yuan, a year-on-year increase of 77.4%, driven by the rising demand for complex products due to the acceleration of automotive intelligence [6] - The consumer electronics sector is recovering, benefiting from a 7% growth in the global smartphone market in 2024, which ended a two-year decline [6] - The report indicates that the fluctuations in Q1 profit are primarily due to short-term factors and do not pose a long-term negative impact on future quarters [6] - The company is expected to maintain its growth trajectory in the automotive connector business, which is seen as a second growth curve, with potential for continued market share expansion [6] - The profit forecasts for 2025-2027 are maintained, with expected net profits of 811 million yuan, 1.021 billion yuan, and 1.267 billion yuan respectively, corresponding to PE ratios of 25, 20, and 16 [6] Financial Data and Earnings Forecast - Total revenue projections for 2025 are set at 5.681 billion yuan, with a year-on-year growth rate of 21.9% [5] - The gross profit margin is expected to improve from 30.7% in Q1 2025 to 35.3% by 2027 [5] - The return on equity (ROE) is projected to increase from 2.4% in Q1 2025 to 16.8% by 2027 [5]