证券代码：300777 证券简称：中简科技 公告编号：2025-046 中简科技股份有限公司 2025年第一次临时股东大会决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完 整，没有虚假记载、误导性陈述或重大遗漏。 特别提示： 1.本次股东大会无否决提案的情形； 2.本次股东大会未涉及变更以往股东大会已通过的决议。 一、会议召开情况 1.现场会议召开时间：2025 年 6 月 26 日下午 2:30。 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 时间为：2025 年 6 月 26 日上午 9:15-9:25，9:30-11:30 和 13:00-15:00； 通过深圳证券交易所互联网投票系统投票的具体时间为：2025 年 6 月 26 日 9:15 至 15:00 期间的任意时间。 3.现场会议召开地点：常州市新北区河海东路 56 号环球恐龙城 维景国际大酒店。 4.表决方式：现场投票和网络投票相结合 5.会议召集人：公司董事会 6.会议主持人：公司董事长杨永岗先生 7.本次会议的召集、召开符合《中华人民共和国公司法》《上市公 1 司股东大会规则》等法律、法规和规范性法律文件以及 ...

北京海润天睿律师事务所 关于中简科技股份有限公司 2025 年第一次临时股东大会的 法律意见书 地址：北京市朝阳区建外大街甲14号广播大厦5层、9层、10层、13层、17层 邮政编码：100022. 电话:86-10-65219696 传真:86-10-88381869 法律意见书 北京海润天睿律师事务所 关于中简科技股份有限公司 2025 年第一次临时股东大会的法律意见书 致：中简科技股份有限公司 北京海润天睿律师事务所（以下简称"本所"）接受中简科技股份有限公司 （以下简称"公司"）委托，指派律师出席了公司 2025 年第一次临时股东大会 （以下简称"本次股东大会"）进行法律见证。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》）等法律、法规及《中简科技股份有限公司章程》（以下简称"公司章程"） 的规定，对本次股东大会的召集程序，会议召集人资格，本次股东大会的召开， 出席会议人员资格，本次股东大会的议案情况，本次股东大会的表决程序及表决 结果等重要事项的合法性进行见证并出具法律意见书。 关于本法律意见书，本所及本所律师谨作如下声明： （1）在本法 ...

Investment Rating - The report maintains a positive outlook on the defense and military industry, particularly in light of the current global geopolitical tensions, indicating a favorable investment opportunity in this sector [3][36]. Core Insights - The defense and military sector is expected to benefit from the recovery of demand and the elimination of previous disruptions, with a long-term growth certainty supported by national defense modernization goals set for 2035 and 2050 [5][38]. - The report highlights the increasing importance of drone technology in modern warfare, emphasizing its cost-effectiveness and operational advantages [4][36]. - The low-altitude economy is identified as a burgeoning sector, with significant policy support and commercial opportunities emerging [4][35]. Summary by Sections Market Review - The defense and military index fell by 2.01% last week, ranking 17th among 31 sectors, with a current PE(TTM) of 74.63 times [3][20]. - The sub-sectors show varying PE ratios, with aerospace equipment at 134.59 times and ground weaponry at 148.10 times [20]. Key Recommendations - Focus on companies with strong demand and product depth in the downstream manufacturing sector, such as Hongdu Aviation, AVIC Shenyang Aircraft, and AVIC Xi'an Aircraft [5][40]. - Highlight new technology firms in the military sector, including Lianchuang Optoelectronics and Guangqi Technology [5][40]. - Emphasize underwater equipment companies like Hailanxin and Yaxing Anchor Chain [5][41]. - Recommend missile industry chain companies such as Feilihua and Guokexun [5][42]. - Suggest companies involved in military-grade titanium materials and electronic components, including Western Superconducting and Hongyuan Electronics [5][43][44]. Industry Dynamics - The report notes that geopolitical tensions, particularly in the Middle East, are driving interest in military investments [3][36]. - The low-altitude economy is highlighted as a significant growth area, with various local governments implementing supportive measures to foster development [31][35].

Group 1: Project Development and Market Position - The company initiated the high-performance carbon fiber product project in November 2024, following a thorough investigation of market needs and production capacity [1] - The feasibility study confirmed that the project aligns with national and local industrial policies, has strong market competitiveness, and can effectively utilize existing infrastructure to reduce investment and construction time [1] - 40% of the company's revenue last year was attributed to the new generation ZT9H carbon fiber product, which has received positive feedback from existing and potential customers [2] Group 2: Strategic Partnerships and Investments - Sinopec Capital's investment is expected to enhance the company's capabilities in the civil aviation sector, leveraging Sinopec's extensive resources and industry expertise [3] - The company aims to collaborate with clients to develop and expand the civilian market for carbon fiber composite materials, enhancing its competitive edge [3] Group 3: Employee Incentives and Corporate Governance - The company is working on a broad employee stock ownership plan to share development results with long-term employees, focusing on strategic arrangements for sustainable growth [3] - The establishment of the Sanqiang Company as an associated entity is aimed at strengthening the company's supply chain in high-performance composite materials [4] Group 4: Environmental and Regulatory Compliance - The project has been designed to meet environmental protection laws and regulations, ensuring that all pollutants can be effectively managed and discharged within legal limits [1] - The company emphasizes the importance of internal controls and governance to protect the interests of shareholders, particularly in relation to associated transactions [4]

| 并不是很客观。 | | --- | | 中简从成立就围绕国家战略领域需求开展一系列工作，作 | | 为一个有使命感、有核心技术、不断创新的团队，单纯追求高 | | 毛利率并不符合公司、用户单位的长远发展利益，也不符合公 | | 司的价值观。我们发展至今，不仅在于能高质量、更具备价格 | | 等竞争力优势地去生产产品，也在于能更快、更好、更具前瞻 | | 性的思维与设计部门一起融入到新产品开发中，基于此，我们 | | 期待的毛利率水平一定是符合产业链生态长期发展与共赢的 | | 水平。 | | 毛利率变化与产品价格、客户对不同产品的需求结构等都 | | 有关系，在不同季度期间的变化不太好去做线性预测。在一定 | | 时期内，客户单位的公司的产品需求量是稳定的，而且公司也 | | 在拓宽产品谱系，以有竞争力的产品和产业延伸来不断拓展新 | | 的应用场景。 | | 公司新的管理层对市值管理高度重视，制定了市值管理制 | | 度，并不断配强工作团队，一方面培育壮大新质生产力、提高 | | 公司发展质量，另一方面探索用好资本市场工具，推动科技创 | | 新和产业创新融合发展，更好提升公司的投资价值。 | | 2. ...

Investment Rating - The report rates the defense and military industry as "Recommended" [1] Core Viewpoints - The J-10C fighter jet is expected to lead China's military trade, becoming a prominent symbol of China's military exports [11] - The potential demand and development space in the military trade market are anticipated to exceed market expectations, with various companies positioned to benefit [11] Summary by Sections Events - Indonesia is evaluating the feasibility of purchasing Chinese-made J-10 fighter jets, influenced by the aircraft's performance in the India-Pakistan conflict and its competitive pricing compared to Western counterparts [2] - Recent reports highlight the J-10's development and achievements, with significant interest shown at the Langkawi International Maritime and Aerospace Exhibition [2] - Pakistan's government announced the acquisition of 40 J-35 fifth-generation stealth fighters and other military equipment from China [2] Analysis and Judgments - The J-10 is poised to continue the success of previous Chinese military exports, moving from low-end markets to mid-high-end markets [3] - The J-10CE is recognized as China's most advanced fighter jet export, indicating China's capability for comprehensive high-performance fighter jet exports [4] - The J-10CE is seen as a cost-effective option for developing countries, competing against established models like the F-16 and MiG series [4] Market Dynamics - The global military trade landscape is shifting towards integrated solutions rather than just hardware sales, with increasing demand for comprehensive military systems [6] - Countries like South Korea are emerging as competitors in the arms market, leveraging their military-industrial capabilities [6] Industry Development - The J-10CE's export is expected to drive significant growth in the military supply chain, with advancements in materials, engines, and avionics systems enhancing its performance [7][9] - The report emphasizes the importance of domestic aerospace manufacturers in achieving technological self-reliance and innovation [10] Investment Recommendations - Key beneficiaries identified include: - AVIC Chengdu Aircraft Industry Group, a core manufacturer of fighter jets, expected to gain from increased international interest in the J-10CE [11] - Zhongjian Technology, a leader in high-end carbon fiber materials crucial for aircraft performance [11] - Guorui Technology, a leader in military radar systems, showing positive growth in military trade orders [11] - Other companies like AVIC Shenyang Aircraft Corporation and Hongdu Aviation are also highlighted for their export potential in various military aircraft and systems [12]

Core Viewpoint - The company plans to invest 1.402 billion yuan in a high-performance carbon fiber project, aiming for an annual production capacity of 2,000 tons, with a projected annual revenue of 158.8 million yuan and a net profit of 77.374 million yuan upon reaching full capacity in the seventh year [2][3]. Group 1: Project Overview - The project will utilize self-owned funds to construct a high-performance carbon fiber production facility, with a total investment of 1.402 billion yuan and a construction period of 3 years [2][3]. - The project aims to produce T700 grade and above high-strength carbon fibers, addressing the growing market demand and expanding the company's production capacity [3][4]. Group 2: Market Demand and Growth - The demand for carbon fiber is expected to grow significantly, with global demand projected at 156,100 tons in 2024, a year-on-year increase of 35.7%, and the aerospace and military sectors accounting for 26,400 tons of this demand [5]. - In China, the total demand for carbon fiber is anticipated to reach 84,000 tons in 2024, reflecting a year-on-year growth of 21.7%, with the aerospace and military sectors demanding 9,000 tons [5]. Group 3: Competitive Advantage - The company has achieved advanced performance levels in its aerospace-grade carbon fibers, surpassing international standards, and has successfully transitioned from imitation to independent innovation in key materials for aviation [4]. - The expansion of production capacity is expected to enhance the company's competitive edge, particularly in high-end applications within the aerospace sector [4].

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for future investment returns [6]. Core Views - The company plans to invest 1.402 billion yuan to build a high-performance carbon fiber production project with an annual capacity of 2,000 tons, expected to generate annual sales revenue of 1.588 billion yuan and a net profit of 773.74 million yuan upon reaching full capacity [1]. - The demand for carbon fiber is on the rise, particularly in the aerospace sector, with a projected global demand of 156,100 tons in 2024, representing a year-on-year growth of 35.7% [3]. - The company has achieved advanced performance levels in its aerospace-grade carbon fiber products, enabling domestic substitution and meeting national strategic needs [2]. Summary by Sections Investment Project - The company is set to invest 1.402 billion yuan in a project to produce high-performance carbon fiber, with a construction period of three years and a full production rate expected by the seventh year [1]. Market Demand - The aerospace and military sectors are expected to see a 20% increase in carbon fiber demand in 2024, with the total demand in China reaching 84,000 tons, a 21.7% increase year-on-year [3]. Financial Projections - The company’s projected net profits for 2025, 2026, and 2027 are 483 million yuan, 609 million yuan, and 705 million yuan respectively, reflecting significant growth [3][5]. - The report forecasts a recovery in downstream demand, leading to an upward revision of profit estimates for 2025-2026 [3]. Competitive Position - The company is positioned as a core supplier of high-end carbon fiber for aerospace applications, with a strong focus on expanding production capacity to meet growing market needs [2][3].

Core Viewpoint - The company plans to invest 1.402 billion yuan in a high-performance carbon fiber project, aiming for an annual production capacity of 2,000 tons, with a full production rate expected by the seventh year [1] Group 1: Investment and Project Details - The total investment for the high-performance carbon fiber project is 1.402 billion yuan, with a construction period of 3 years [1] - Upon reaching full production, the estimated annual sales revenue will be 1.588 billion yuan, with a net profit of 773.74 million yuan [1] - The project aims to expand production capacity to meet the growing market demand for carbon fiber, particularly in high-performance applications [1] Group 2: Product Performance and Market Position - The company's aerospace-grade carbon fiber has reached advanced international standards, achieving domestic substitution [2] - The ZT7 and ZT9 series carbon fibers have broken the technological blockade from developed countries and are now being applied in China's aerospace sector [2] - The expansion of production capacity is expected to enhance the company's competitive edge in high-end markets [2] Group 3: Market Demand and Growth Projections - Global carbon fiber demand is projected to reach 156,100 tons in 2024, with a year-on-year growth of 35.7%, driven by the aerospace and military sectors [3] - In China, the total demand for carbon fiber is expected to be 84,000 tons in 2024, reflecting a year-on-year increase of 21.7% [3] - The company is positioned to benefit from the recovery of demand in the aerospace sector, with profit forecasts for 2025-2027 showing significant growth [3]

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for future investment returns [6]. Core Viewpoints - The company plans to invest 1.402 billion yuan to build a high-performance carbon fiber production project, with an annual capacity of 2,000 tons, expected to achieve full production in the seventh year [1]. - The demand for carbon fiber is continuously improving, particularly in the aerospace sector, which is projected to grow significantly [3]. - The company has achieved advanced performance levels in its aerospace-grade carbon fiber products, enabling domestic substitution and meeting national strategic needs [2]. Summary by Relevant Sections Investment Project - The company is investing in a high-performance carbon fiber project with a total investment of 1.402 billion yuan, aiming for an annual sales revenue of 1.588 billion yuan and a net profit of 773.74 million yuan upon reaching full capacity [1]. Market Demand - Global carbon fiber demand is expected to reach 156,100 tons in 2024, a year-on-year increase of 35.7%, with the aerospace and military sectors accounting for 26,400 tons, a 20% increase [3]. - In China, the total carbon fiber demand is projected to be 84,000 tons in 2024, reflecting a 21.7% growth [3]. Financial Forecast - The company’s net profit forecasts for 2025, 2026, and 2027 are 483 million yuan, 609 million yuan, and 705 million yuan, respectively, with significant upward adjustments of 17.5% and 30.3% for 2025 and 2026 [3]. - The report provides a detailed financial outlook, including revenue growth rates and profit margins, indicating a recovery in demand and profitability [5][11]. Competitive Position - The company is positioned as a core supplier of high-end carbon fiber for aerospace applications, with a strong focus on expanding production capacity to meet growing market needs [2][3].