国泰海通证券股份有限公司 关于科顺防水科技股份有限公司 对外投资暨关联交易的核查意见 国泰海通证券股份有限公司（以下简称"国泰海通证券"或"保荐人"） 作为科顺防水科技股份有限公司（以下简称"科顺股份"或"公司"）的保荐 人，根据《证券发行上市保荐业务管理办法》《深圳证券交易所创业板股票上 市规则》和《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、法规和规范性文件的要求，对科顺股份对外投资暨关 联交易的事项进行了审慎核查，核查情况及核查意见如下： 一、关联交易概述 科顺防水科技股份有限公司（以下简称"公司"）及子公司广东科顺创新投 资有限公司（以下简称"科顺创投"）拟与陈伟忠、陈智忠、陈作留、陈华忠 4 位合伙人签署《股权转让协议》，收购其持有珠海横琴逸东投资合伙企业（有限 合伙）（以下简称"横琴逸东"）100%的合伙企业份额，交易价格合计为 8,200 万元。其中，公司拟以现金方式收购陈伟忠、陈智忠、陈作留、陈华忠 4 位合伙 人持有的横琴逸东合计 99%的合伙企业份额，作为横琴逸东有限合伙人，交易 价格合计为 8,118 万元，资金来源为公司自有资金或自筹资金。科顺创投 ...

科顺防水科技股份有限公司 独立董事吴鹏 2024 年度述职报告 各位股东及股东代表： 本人作为科顺防水科技股份有限公司（以下简称"公司"）的独 立董事，严格按照《中华人民共和国公司法》《中华人民共和国证券 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》等相关法律法规及业务规则的要求，积极履行独立董事职责， 独立、勤勉、负责地行使职权，按时参加公司 2024 年董事会及相关 会议，发挥独立董事的作用。现就 2024 年度履职情况报告如下： 一、独立董事的基本情况 （一）工作履历、专业背景以及兼职情况 本人吴鹏：1982 年出生，博士研究生学历，中国国籍，无永久 境外居留权。2008 年 1 月至 2017 年 4 月任鸿达兴业股份有限公司采 购总监；2017 年 4 月到 2018 年 2 月任暨南投资有限公司大健康项目 负责人；2018 年 3 月至 2022 年 12 月任广东顺钠电气股份有限公司 副总经理、董事会秘书。2022 年 12 月至 2024 年 6 月任广东炬森精 密科技股份有限公司董事、副总经理、董事会秘书。现任公司独立董 事，兼任澳门城市大学金融学院顾问委员会委员， ...

科顺防水科技股份有限公司 独立董事解云川 2024 年度述职报告 各位股东及股东代表： 本人于 2021 年 05 月 13 日至 2024 年 5 月 21 日期间担任科顺防 水科技股份有限公司（以下简称"公司"）的独立董事，严格按照《中 华人民共和国公司法》《中华人民共和国证券法》《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》等相关法律法 规及业务规则的要求，积极履行独立董事职责，独立、勤勉、负责地 行使职权，按时参加公司 2024 年董事会及相关会议，发挥独立董事 的作用。现就 2024 年度本人任职期间的履职情况报告如下： 一、独立董事的基本情况 （一）工作履历、专业背景以及兼职情况 本人解云川：1976 年出生，博士研究生学历，无永久境外居留 权。2008 年 4 月-2010 年 1 月在香港理工大学担任研究助理；2005 年至今在西安交通大学担任教师，2019 年获得西安交通大学教授资 格，目前主要从事化学领域教学、科研。 （二）独立性说明 2024 年度，本人在担任公司独立董事期间，任职符合《上市公 司独立董事管理办法》第六条规定的独立性要求，不存在影响独立性 的情况。 二 ...

科顺防水科技股份有限公司 独立董事张学军 2024 年度述职报告 各位股东及股东代表： 本人张学军：1967 年出生，博士研究生学历，无永久境外居留 权。1989 年至 1995 年在交通部第四航务工程学校担任讲师；1995 年 至 1998 年在广东省高级人民法院政治部担任科员；1998 年至 2006 年在广东省高级人民法院商事审判庭担任书记员、审判员；2006 年 至 2019 年在广东省高级人民法院知识产权审判庭担任审判员、副庭 长，三级高级法官；现任北京市金杜律师事务所高级顾问，兼任深圳 大学法学院特聘教授、广东外语外贸大学法学院硕士生导师、华南理 工大学法学院特聘教授、中国知识产权法学会理事、广东法学会知识 产权法学研究会副会长、佛山仲裁委员会仲裁员。现任公司独立董事。 经自查，本人任职符合《上市公司独立董事管理办法》第六条规 定的独立性要求，不存在影响独立性的情况。 二、2024 年度履职情况 （一）出席董事会及股东大会的情况 2024 年度，公司召开 14 次董事会、1 次年度股东会和 3 次临时 股东会。本人按时出席董事会和股东会，无委托其他独立董事代为出 席会议的情况，本人认为上述会议的召 ...

一、独立董事的基本情况 （一）工作履历、专业背景以及兼职情况 本人曾德民：1970 年出生，博士研究生学历，无永久境外居留 权。1995 年 4 月-2003 年 6 月在中国建筑科学研究院工程抗震研究所 工作，2003 年 7 月-2008 年 4 月在中国建筑科学研究院建研抗震工程 技术有限公司任室副主任，2008 年 5 月-2008 年 8 月在中国建筑科学 研究院建研科技股份有限公司工作，2008 年 9 月-2016 年 10 月在中 国建筑标准设计院防灾抗震技术中心任副主任，2016 年 11 月至今在 北京建筑大学土木学院工作，主要从事工程隔震减震及抗震技术领域 研究。 （二）独立性说明 科顺防水科技股份有限公司 独立董事曾德民 2024 年度述职报告 各位股东及股东代表： 本人于 2021 年 05 月 13 日至 2024 年 5 月 21 日期间担任科顺防 水科技股份有限公司（以下简称"公司"）的独立董事，本人任职期 间严格按照《中华人民共和国公司法》《中华人民共和国证券法》《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》 等相关法律法规及业务规则的要求，积极履行独立董 ...

经自查，本人的任职符合《上市公司独立董事管理办法》规定的 独立性要求，不存在影响独立性的情况。 科顺防水科技股份有限公司 独立董事谭有超 2024 年度述职报告 各位股东及股东代表： 作为科顺防水科技股份有限公司（以下简称"公司"）的独立董 事，本人严格遵照《中华人民共和国公司法》《中华人民共和国证券 法》《深圳证券交易所创业板股票上市规则》《上市公司独立董事管 理办法》等相关法律法规及业务规则，以及《公司章程》《独立董事 工作细则》等规定，忠实、勤勉地履行独立董事职责，充分发挥独立 董事的独立性作用，维护了公司的整体利益和全体股东尤其是中小股 东的合法权益。现将本人 2024 年任期内履职情况汇报如下： 一、独立董事的基本情况 本人谭有超：1983 年出生，博士研究生学历，中国国籍，无永 久境外居留权。2013 年 9 月至 2014 年 2 月在东北财经大学任职，2014 年 3 月至 4 月在西南财经大学任职。2018 年 4 月进入暨南大学管理 学院会计系工作至今。现任暨南大学管理学院会计系教授、系主任、 广东省会计学会理事。现任公司独立董事、广东新宝电器股份有限公 司独立董事、广发银行股份有限公司外 ...

科顺防水科技股份有限公司董事会 关于独立董事 2024 年度独立性情况的专项意见 根据《上市公司独立董事管理办法》《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》的规定，独立董 事应当每年对独立性情况进行自查，并将自查情况提交董事会。董事 会应当每年对在任独立董事独立性情况进行评估并出具专项意见，与 年度报告同时披露。基于此，科顺防水科技股份有限公司（以下简称 "公司"）董事会就公司在任独立董事谭有超、张学军、吴鹏的独立 性情况进行评估并出具如下专项意见： 经核查，在任独立董事谭有超、张学军、吴鹏的任职经历以及签 署的相关自查文件，董事会认为公司独立董事均能够胜任独立董事的 职责要求，其未在公司担任除独立董事以外的任何职务，也未在公司 主要股东单位担任任何职务，与公司以及主要股东之间不存在妨碍我 们进行独立客观判断的关系，不存在影响独立董事独立性的情况，符 合《上市公司独立董事管理办法》《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》中对独立董事独立性的 相关要求。 科顺防水科技股份有限公司 董 事 会 2025 年 4 月 25 日 ...

| 名称 | 持有数量(万股) | 占总股本比例(%) | 增减情况(万股) | | --- | --- | --- | --- | | 佛山顺德区顺控兴诚投资合伙企业(有限合伙) | 7900.00 | 9.26 | 不变 | | 阮宜宝 | 7580.67 | 8.89 | 不变 | | 陈智忠 | 5329.11 | 6.25 | 不变 | | 科顺防水科技股份有限公司-第一期员工持股计划 | 3678.62 | 4.31 | 不变 | | 陈伟忠 | 3456.51 | 4.05 | 不变 | | 景顺长城中国回报混合A | 2707.21 | 3.17 | -676.16 | | 景顺资源垄断混合A | 2280.45 | 2.67 | -360.74 | | 陈作留 | 1898.96 | 2.23 | 不变 | | 陈华忠 | 1895.43 | 2.22 | 不变 | | 基本养老保险基金一二零二组合 | 1149.58 | 1.35 | 不变 | 三、分红送配方案情况 一、主要会计数据和财务指标 | 报告期指标 | 2024年年报 | 2023年年报 | 本年比上年增减(%) | 2022年 ...

Financial Performance - The company's operating revenue for 2024 was CNY 6,828,803,327.70, a decrease of 14.04% compared to CNY 7,944,393,327.05 in 2023[20]. - The net profit attributable to shareholders for 2024 was CNY 44,071,003.42, a significant increase of 113.05% from a loss of CNY 337,600,673.18 in 2023[20]. - The net cash flow from operating activities increased by 64.52% to CNY 315,590,878.86 in 2024, compared to CNY 191,826,903.51 in 2023[20]. - The basic earnings per share for 2024 was CNY 0.04, up 113.79% from a loss of CNY 0.29 in 2023[20]. - The gross profit margin for the reporting period was 21.77%, an increase of 0.9 percentage points year-on-year, attributed to stable sales prices and reduced operating costs[91]. - The company reported a net profit attributable to shareholders of 44.07 million yuan, an increase of 113.05% year-on-year, driven by business transformation and improved asset quality[92]. - Cash flow from operating activities was 316 million yuan, up 64.52% year-on-year, due to enhanced credit risk management and optimized payment methods[93]. - The company achieved operating revenue of 6.83 billion yuan, a decrease of 14.04% compared to the previous year, primarily due to strategic adjustments in business layout and a focus on high-quality development[91]. Market Trends and Industry Outlook - The total production of waterproof materials in China is projected to be 2.538 billion square meters in 2024, a decrease of 16.8% compared to 2023, which may impact the company's revenue growth[5]. - The waterproofing industry is projected to see a total production of 2.538 billion square meters in 2024, a decline of 16.8% compared to 2023[32]. - The company anticipates that the stock housing market will become a new growth point for the waterproofing industry due to urban renewal projects targeting old residential areas[34]. - The government has implemented policies to stabilize the real estate market, which is expected to support demand for waterproofing products[33]. - The demand for waterproof materials is expected to grow due to urban renewal projects and the renovation of old residential areas, which will require improved waterproofing solutions[39]. - The waterproof industry in China is experiencing significant consolidation, with over 3,000 companies competing for a market where the top firms hold less than 30% of the share[43]. - The government has implemented new regulations to enhance the durability requirements of waterproof materials, which is anticipated to raise industry entry barriers and concentration levels[36]. Risk Management - The company faces risks related to the fluctuation of raw material prices, which include asphalt and various petrochemical products, potentially affecting profitability[6][7]. - The company has a significant accounts receivable balance, which may pose a risk if major debtors experience financial difficulties[8]. - The company is closely monitoring raw material price fluctuations and plans to implement strategic reserves to mitigate procurement costs[160]. - The company is enhancing its accounts receivable management to reduce risks associated with potential defaults from major clients[161]. - The company has established a comprehensive risk management system for its hedging activities, including strict controls on the scale of hedging funds[125]. Corporate Governance and Compliance - The company emphasizes the importance of accurate financial reporting and has declared that all board members attended the meeting to review the annual report[4]. - The company has not reported any discrepancies between net profit and net assets under international and Chinese accounting standards during the reporting period[24][25]. - The company ensures strict compliance with laws and regulations regarding information disclosure, with designated personnel responsible for coordinating investor relations and providing timely and accurate information[173]. - The company maintains independence from its controlling shareholders in terms of assets, personnel, finance, organization, and business, ensuring a complete R&D, production, and sales system[175]. - The company has established an independent financial accounting system and maintains separate bank accounts, ensuring no shared accounts with controlling shareholders[179]. Strategic Initiatives and Partnerships - The company focuses on providing comprehensive waterproofing solutions, with a core business in construction waterproofing and a strategic shift towards diversified business transformation[51]. - The company has established long-term strategic partnerships with major state-owned enterprises and well-known private companies, enhancing its market presence[53]. - The company is actively pursuing market expansion in emerging areas such as urban renewal and green building initiatives[52]. - The company has established long-term partnerships with over 3,200 distributors across 31 provinces, enhancing its market presence and distribution efficiency[75]. - The company has engaged in extensive collaborations with suppliers such as BASF and Shell for advanced waterproof technologies aimed at sustainable development[108]. Research and Development - The company has a research and development team of nearly 500 people and has applied for a total of 1,239 patents, with 824 currently valid[83][84]. - The company has successfully developed a core technology for root-resistant waterproofing materials, reducing production costs and enhancing product performance[84]. - The company’s R&D investment for 2024 amounted to approximately ¥275.15 million, representing 4.03% of total revenue, a slight increase from 4.02% in 2023[109]. - The company received 60 patent applications in 2024, including 56 invention patents, and published four research papers in reputable journals[107]. Product Development and Innovation - The company is upgrading its product offerings in the civil building materials sector, emphasizing environmental certifications and a wide range of product categories[56][57]. - The company has implemented a comprehensive upgrade of its waterproofing materials, focusing on durability and compliance with new industry standards[50]. - The waterproofing products feature high-performance characteristics, such as excellent tensile strength and self-healing capabilities, suitable for various construction applications[71]. - The company has a diverse product line, including self-adhesive membranes and polyurethane coatings, catering to both industrial and civil construction needs[71]. - The company is focusing on five major business lines, including self-cleaning solutions for photovoltaic panels and agricultural chemical applications, to enhance its competitive edge[157]. Shareholder Engagement and Corporate Structure - The company held its annual shareholders' meeting on May 21, 2024, with a participation rate of 50%[183]. - The company conducted its first temporary shareholders' meeting on June 27, 2024, with a participation rate of 42.79%[183]. - The company reported a total shareholding of 297,901,983 shares at the end of the period, a decrease of 45,010,000 shares from the beginning of the period[187]. - The chairman, Chen Weizhong, reduced his shareholding by 45,000,000 shares through an agreement transfer, leaving him with 273,260,362 shares[187]. - The company’s total shareholding structure reflects a significant change with the departure of two independent directors and the appointment of new members[188]. Market Expansion and Sales Strategy - The company is expanding its market presence in Southeast Asia, targeting a 30% market share by 2025[196]. - The company has adopted live e-commerce as a key strategy for brand penetration and channel expansion, leveraging platforms like Douyin to reach end consumers and small B clients[62]. - The company aims to enhance its channel system and local market responsiveness through a strategy of "deep cultivation" and "precise sinking" into county markets[52]. - The company has expanded its channel layout, increasing the number of core decoration company resources by over 50 throughout the year, enhancing the depth of market penetration[61]. Sustainability and Environmental Commitment - The company has received multiple environmental certifications for its products, reinforcing its commitment to sustainability[57]. - The focus on green materials and low-carbon processes is becoming a core trend in the waterproofing industry, driven by national policies on energy efficiency and sustainable development[47]. - The company emphasizes low-carbon and low-emission production processes, utilizing biodegradable materials in its product formulations[71]. - The company has received multiple awards, including the National Green Supply Chain Management Enterprise and the National Green Factory, highlighting its commitment to sustainability[81].

Financial Performance - The company's operating revenue for Q1 2025 was ¥1,395,038,910.94, a decrease of 6.06% compared to ¥1,485,098,885.06 in the same period last year[4] - The net profit attributable to shareholders for Q1 2025 was ¥40,504,756.80, down 23.19% from ¥52,732,211.62 in the previous year[4] - The basic earnings per share for Q1 2025 was ¥0.04, a decrease of 20.00% from ¥0.05 in the previous year[4] - The weighted average return on equity for Q1 2025 was 0.82%, down from 1.05% in the same period last year, a decrease of 0.23%[4] - Net profit for the period was ¥39,710,336.53, down from ¥50,994,831.70, representing a decline of 22.0%[21] - Total profit decreased to ¥52,099,579.56 from ¥63,026,104.30, a drop of 17.5%[21] - The total comprehensive income attributable to the parent company was ¥40,022,136.98, down from ¥52,773,179.30, a decrease of 24.3%[22] Cash Flow and Liquidity - The net cash flow from operating activities improved significantly, reaching -¥382,352,272.09, a 60.87% increase compared to -¥977,142,580.83 in the same period last year[8] - Operating cash flow net amount improved to -¥382,352,272.09 from -¥977,142,580.83, indicating a positive trend in cash flow management[24][26] - Cash inflow from operating activities totaled ¥1,520,029,126.14, up from ¥1,307,846,982.22, marking an increase of 16.2%[25] - The company reported a cash and cash equivalents balance of ¥1,588,147,763.29 at the end of the period, slightly down from ¥1,629,493,144.00[26] - Cash and cash equivalents decreased to CNY 2,696,828,997.56 from CNY 3,415,245,423.59, representing a decline of 21.06%[15] Assets and Liabilities - Total assets at the end of the reporting period were ¥14,131,413,557.81, reflecting a 0.63% increase from ¥14,043,623,151.24 at the end of the previous year[4] - Total liabilities increased to CNY 9,101,381,935.86 from CNY 9,065,124,308.26, showing a slight increase of 0.40%[17] - Total assets amounted to CNY 14,131,413,557.81, up from CNY 14,043,623,151.24, reflecting an increase of 0.62%[16] - The company's retained earnings increased to CNY 1,878,830,454.05 from CNY 1,837,360,171.39, an increase of 2.39%[18] - The total equity attributable to shareholders rose to CNY 4,940,214,499.17 from CNY 4,893,915,983.74, an increase of 0.94%[18] Shareholder Information - The company reported a total of 33,125 common shareholders at the end of the reporting period[10] - The top shareholder, Chen Weizhong, holds 24.62% of the shares, amounting to 273,260,362 shares, with 204,945,271 shares pledged[10] Operating Costs and Expenses - Total operating costs for the current period amount to CNY 1,319,656,053.43, down 6.76% from CNY 1,415,365,335.64 in the previous period[20] - R&D expenses increased to ¥48,730,236.98 from ¥47,340,139.46, reflecting a growth of 2.9% year-over-year[21] - Financial expenses decreased significantly to ¥12,213,414.19 from ¥23,244,349.57, a reduction of 47.5%[21] Government Subsidies and Non-Recurring Items - The company received government subsidies amounting to ¥4,758,870.35 during the reporting period, which are closely related to its normal business operations[6] - The total non-recurring gains and losses for the reporting period amounted to ¥17,988,531.83 after tax adjustments[6] Inventory and Receivables - Accounts receivable increased to CNY 4,225,695,563.61 from CNY 4,072,793,425.11, reflecting an increase of 3.76%[15] - Inventory rose to CNY 563,298,920.94 from CNY 501,975,812.22, indicating an increase of 12.18%[15] - Short-term borrowings increased to CNY 1,710,846,716.50 from CNY 1,377,572,651.30, a rise of 24.14%[17]