证券代码：300887 证券简称：谱尼测试 公告编号：2025-035 谱尼测试集团股份有限公司 第五届董事会第二十次会议决议公告 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。 一、董事会会议召开情况 谱尼测试集团股份有限公司（以下简称"公司"）第五届董事会第二十次 会议通知以专人送达的方式于 2025 年 5 月 22 日发出，会议于 2025 年 5 月 26 日上午 9:00 在北京市海淀区中关村环保科技示范园锦带路 66 号院 1 号楼谱 尼测试大厦 207 会议室以现场表决的方式召开，会议由董事长宋薇女士召集和 主持，会议应出席董事 6 人，实际出席董事 6 人。公司全体监事和高级管理人 员列席会议。本次会议的召集、召开符合《公司法》和《公司章程》的有关规定。 与会董事经过认真审议，表决形成如下决议： 二、董事会会议审议情况 出席会议的董事对各项议案进行了认真审议并做出了如下决议： （一）审议通过《关于向中信银行股份有限公司北京分行申请授信额度的 议案》 为满足公司日常经营与发展的资金需求，综合考虑公司资金安排，董事会 同意公司向中信银行股份有限公 ...

谱尼测试集团股份有限公司 2024 年度股东大会决议公告 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、本次股东大会不存在增加、否决或变更议案的情形； 证券代码：300887 证券简称：谱尼测试 公告编号：2025-034 2、会议召开时间： （1）现场会议时间：2025 年 5 月 13 日（星期二）下午 15:00 （2）网络投票时间：2025 年 5 月 13 日 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 5 月 13 日 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进行网络投票的时间为 2025 年 5 月 13 日上午 9:15 至下午 15:00 期间的任意时间。 3、会议召开地点：北京市海淀区中关村环保科技示范园锦带路 66 号院 1 号楼谱尼测试大 厦公司 207 会议室 4、会议召开方式：现场表决与网络投票相结合 5、会议召集人：公司董事会 2、本次股东大会未涉及变更以往股东大会决议的情形。 一、会议召开情况 1、谱尼测试集团股份有限公司（以下 ...

北京德恒律师事务所 北京德恒律师事务所 关于谱尼测试集团股份有限公司 北京德恒律师事务所 2024 年度股东大会的法律意见 法律意见 北京市西城区金融街 19 号富凯大厦 B 座 12 层 电话:010-52682888 传真:010-52682999 邮编:100033 关于 谱尼测试集团股份有限公司 2024 年度股东大会的 法律意见 德恒 01G20200488-21 号 致：谱尼测试集团股份有限公司 北京德恒律师事务所接受谱尼测试集团股份有限公司（以下简称"公司"）委 托，指派彭闳律师、丘汝律师（以下简称"本所律师"）出席公司 2024 年度股东 大会（以下简称"本次股东大会"），对本次股东大会的合法性进行见证并出具法 律意见。 本法律意见根据《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》"）、《上市公司股东大会规则》 （以下简称"《股东大会规则》"）等现行有效的法律、法规、规范性文件以及《谱 尼测试集团股份有限公司章程》（以下简称"《公司章程》"）的规定而出具。 为出具本法律意见，本所律师审查了公司本次股东大会的有关文件和材料，同 时本所律师出席 ...

Financial Performance - In 2024, the company achieved a revenue of CNY 154,139.97 million, with a net profit attributable to shareholders of CNY -35,631.30 million, primarily due to strategic contraction and customer structure optimization in a complex market environment [2] - In Q1 2025, the company reported a revenue of CNY 25,172.11 million, with a net profit of CNY -11,096.75 million, attributed to the seasonal nature of the business [3] Strategic Measures - The company implemented strategic contraction by reducing less profitable business segments such as construction materials and non-destructive testing, while integrating food, environment, and medical laboratory capacities [4] - Strengthened accounts receivable management and optimized customer structure, conducting impairment tests on long-term assets showing signs of impairment [4] Business Development - In 2024, the Shanghai biopharmaceutical division received the GLP certification from the NMPA, enhancing the group's drug innovation and research capabilities [5] - The Suzhou automotive laboratory improved testing capabilities for automotive seats and expanded its testing capacity for airbags and other components, gaining recognition from major automotive manufacturers [6][7] Future Plans - The company plans to cautiously reduce capital expenditures while optimizing internal resource allocation and improving capacity utilization [7] - Future strategies include deepening customer demand exploration in sectors like biopharmaceuticals, medical devices, and new energy vehicles, while maintaining strict operational budgets [7]

保荐总结报告书 华泰联合证券有限责任公司 关于谱尼测试集团股份有限公司 向特定对象发行股票并在创业板上市 之保荐总结报告书 | 保荐机构名称 华泰联合证券有限责任公司 | | --- | | 保荐机构编号 Z26774000 | 一、保荐机构及保荐代表人承诺 1、保荐总结报告书和证明文件及其相关资料的内容不存在虚假记载、误导 性陈述或重大遗漏，保荐机构及保荐代表人对其真实性、准确性、完整性承担法 律责任。 2、本机构及本人自愿接受中国证券监督管理委员会（以下简称"中国证监 会"）、深圳证券交易所对保荐总结报告书相关事项进行的任何质询和调查。 3、本机构及本人自愿接受中国证监会按照《证券发行上市保荐业务管理办 法》的有关规定采取的监管措施。 保荐总结报告书 三、发行人基本情况 | 情况 | 内容 | | --- | --- | | 发行人名称 | 谱尼测试集团股份有限公司 | | 证券代码 | 300887.SZ | | 注册资本 | 54575.8376 万元 | | 注册地址 | 北京市海淀区锦带路 66 号院 1 号楼 5 层 101 | | 主要办公地址 | 北京市海淀区锦带路 66 号院 1 号楼 5 ...

华泰联合证券有限责任公司 关于谱尼测试集团股份有限公司 2024 年现场检查报告 根据中国证监会《证券发行上市保荐业务管理办法》（以下简称《保荐办法》） 和《深圳证券交易所上市公司自律监管指引第 13 号——保荐业务》等有关法律 法规的要求，华泰联合证券有限责任公司作为谱尼测试集团股份有限公司（以下 简称"谱尼测试"或"公司"）向特定对象发行股票的保荐机构，于 2025 年 4 月 18 日对谱尼测试集团股份有限公司 2024 年有关情况进行了现场检查，报告如 下： 现场检查报告 | 保荐机构名称：华泰联合证券有限责任公司 被保荐公司简称：谱尼测试 | | | --- | --- | | 保荐代表人姓名：刘晓宁 联系电话：010-56839300 | | | 保荐代表人姓名：王禹 联系电话：010-56839300 | | | 现场检查人员姓名：王禹 | | | 现场检查对应期间：2024 年 1 月 日-2024 年 12 月 31 日 | 1 | | 现场检查时间：2025 年 4 月 18 日 | | | 一、现场检查事项 现场检查意见 | | | （一）公司治理 是 否 不适用 | | | 现场检查手 ...

华泰联合证券有限责任公司 关于谱尼测试集团股份有限公司 2024 年度持续督导跟踪报告 2 | 项目 | 工作内容 | | --- | --- | | | 面，并结合实际案例进行讲解 | | 11.其他需要说明的保荐工作情况 | 无 | | 保荐人名称：华泰联合证券有限责任公司 | 被保荐公司简称：谱尼测试集团股份有限公司 | | --- | --- | | 保荐代表人姓名：刘晓宁 | 联系电话：010-56839300 | | 保荐代表人姓名：王禹 | 联系电话：010-56839300 | 一、保荐工作概述 | 项目 | 工作内容 | | --- | --- | | 1.公司信息披露审阅情况 | | | （1）是否及时审阅公司信息披露文件 | 是 | | （2）未及时审阅公司信息披露文件的次数 | 无 | | 2．督导公司建立健全并有效执行规章制度的情况 | | | （1）是否督导公司建立健全规章制度（包括 但不限于防止关联方占用公司资源的制度、 | | | | 是 | | 募集资金管理制度、内控制度、内部审计制 | | | 度、关联交易制度） | | | （2）公司是否有效执行相关规章制度 | 是 | ...

Investment Rating - The industry investment rating is "Positive" and is maintained [9] Core Viewpoints - As of April 25, 2025, the issuance of special refinancing bonds for replacing hidden debts has reached 80% of the 2 trillion yuan quota, indicating strong momentum in debt replacement efforts. The environmental sector, particularly in government-related debts, is expected to benefit significantly from this policy shift, which is supported by a more proactive fiscal policy in 2025 [2][4][15] Summary by Sections Background - Since November 2024, local debt replacement has accelerated, with a total of 2 trillion yuan in debt limits set for replacement from 2024 to 2026. The central government has emphasized the need to resolve local government debts and accelerate payments owed to enterprises [4][14] Progress - By April 25, 2025, a total of 1.59 trillion yuan in special refinancing bonds has been issued, all aimed at replacing hidden debts. The issuance has significantly increased compared to previous years, with 2025 showing a marked acceleration in bond issuance [5][25][28] Investment Logic - The debt replacement strategy is expected to provide substantial benefits to companies with receivables from government entities. Two investment strategies are recommended: 1. Value Side: Focus on sectors with large receivables and low risk, such as waste incineration and water operations, which are likely to see reduced bad debt risks and improved cash flow [7][41] 2. Elasticity Side: Target leading companies in water, waste incineration, and environmental services that have a high proportion of government receivables and are significantly impacted by credit impairment losses [7][41]

Core Viewpoint - The company reported significant revenue declines and net losses for 2024 and Q1 2025, indicating challenges during its transformation phase [1][2][3] Revenue Summary - In 2024, the company achieved revenue of 1.541 billion yuan, a year-on-year decrease of 37.5% [1] - For Q1 2025, revenue was 252 million yuan, down 24.7% year-on-year [1] Profitability Analysis - The company recorded a net loss of 356 million yuan in 2024, a shift from profit to loss [1] - In Q1 2025, the net loss was 111 million yuan, compared to a loss of 98 million yuan in the same period last year [1] Business Segment Performance - In 2024, revenue by business segment included: - Life Sciences and Health Environmental: 1.077 billion yuan, down 45.53% - Automotive and Other Consumer Goods: 248 million yuan, down 3.44% - Security Assurance: 124 million yuan, down 6.23% - Electronics and Electrical: 74 million yuan, down 6.36% - Metrology: 16 million yuan, down 14.50% [2] Strategic Outlook - For 2025, the company plans to focus on large customer needs, emphasizing sectors such as biomedicine, cosmetics, medical devices, new energy vehicles, and special industry testing [2] - The company aims to improve laboratory capacity utilization and control capital expenditures while optimizing sales incentives and improving operational cash flow [2] Loss Drivers - The significant net losses were attributed to: - Structural adjustments in customer base leading to reduced gross margins and increased costs [3] - Intensified competition in the biomedicine sector compressing profit margins [3] - Initial investments in new special equipment testing fields not yet covering costs [3] - Impairment losses, including credit and asset impairment losses totaling 91 million yuan and 31 million yuan respectively [3] Cash Flow Insights - In 2024, the net cash flow from operating activities was 36 million yuan, with Q4 contributing 152 million yuan; Q1 2025 showed a net cash outflow of 43 million yuan [3] Revenue and Profit Forecast - Projected revenues for 2025-2027 are 1.752 billion yuan, 1.986 billion yuan, and 2.243 billion yuan, with year-on-year growth rates of 13.7%, 13.3%, and 12.9% respectively [4] - Expected net profits for the same period are 37 million yuan, 152 million yuan, and 248 million yuan, indicating a gradual recovery [4]

Investment Rating - The investment rating for the company is "Buy" and is maintained [7]. Core Views - The company has experienced significant revenue declines in 2024 and Q1 2025, with a 37.5% year-on-year decrease in revenue to 1.541 billion yuan in 2024, and a 24.7% decline to 252 million yuan in Q1 2025. The net profit attributable to shareholders turned to a loss of 356 million yuan in 2024, compared to a profit in the previous year [4][8]. - The report highlights that the company is undergoing a painful transformation, with expectations for profit recovery in 2025. The decline in revenue is attributed to several factors, including industry-specific events affecting key sectors like military testing and biomedicine, adjustments in customer structure, and a strategic contraction in less profitable business segments [8][4]. Summary by Sections Financial Performance - In 2024, the company reported total revenue of 1.541 billion yuan, a decrease of 37.5% year-on-year. The net profit attributable to shareholders was a loss of 356 million yuan, compared to a profit in the previous year. For Q1 2025, revenue was 252 million yuan, down 24.7% year-on-year, with a net loss of 111 million yuan [4][8]. - The revenue breakdown for 2024 shows significant declines across various business segments, with life sciences and health environmental revenue dropping by 45.53% to 1.077 billion yuan [8]. Business Strategy - The company is focusing on deepening customer demand, particularly in biomedicine, cosmetics, medical devices, and new energy vehicles. It aims to enhance laboratory capacity utilization and control capital expenditures while optimizing sales incentives and improving operational cash flow [8][4]. Profitability Outlook - The report forecasts gradual profit recovery, with expected revenues of 1.752 billion yuan in 2025, 1.986 billion yuan in 2026, and 2.243 billion yuan in 2027, reflecting year-on-year growth rates of 13.7%, 13.3%, and 12.9% respectively. The net profit attributable to shareholders is projected to improve to 37 million yuan in 2025 and reach 248 million yuan by 2027 [8][11].