北京国枫律师事务所 关于山东南山智尚科技股份有限公司 向特定对象发行股票之发行过程和认购对象合规性 的专项法律意见书 国枫律证字[2024]AN007-24号 GRANDWAY 北京国枫律师事务所 Grandway Law Offices 致:山东南山智尚科技股份有限公司（发行人） 根据北京国枫律师事务所(以下简称"本所")与发行人签订的《律师服务 协议书》,本所接受发行人的委托,担任发行人 2023年度向特定对象发行 A 股 股票(以下简称"本次发行")的专项法律顾问,并据此对发行人本次发行的发 行过程和认购对象合规性发表法律意见。 本所律师根据《中华人民共和国证券法》《中华人民共和国公司法》《上市 公司证券发行注册管理办法》(以下简称"《注册管理办法》")、《证券发行 与承销管理办法》《深圳证券交易所上市公司证券发行与承销业务实施细则》(以 下简称"《实施细则》")、《律师事务所从事证券法律业务管理办法》《律师 事务所证券法律业务执业规则(试行)》等相关法律、法规、规范性文件的规定, 并按照律师行业公认的业务标准、道德规范和勤勉尽责精神,对发行人本次发行 的发行过程和认购对象合规性进行了现场见证,对相关文 ...

| 目 录 | 页 | 码 | | --- | --- | --- | | 一、验资报告 | 1-3 | | | 二、附件 | | | | 1、新增注册资本实收情况明细表 | 4 | | | 2、注册资本及实收资本（股本）变更前后对照表 | 5 | | | 3、验资事项说明 | 6-7 | | | 4、银行询证函 | 8 | | 和信会计师事务所（特殊普通合伙） 山东南山智尚科技股份有限公司 向特定对象发行股票募集资金 验资报告 和信验字（2025）第 000011 号 二○二五年五月十六日 和信会计师事务所（特殊普通合伙） 1 山东南山智尚科技股份有限公司 验资报告 验 资 报 告 和信验字(2025)第 000011 号 山东南山智尚科技股份有限公司： 我们接受委托，审验了山东南山智尚科技股份有限公司（以下简称南山智尚公司）截至 2025年5月16日止新增注册资本及股本情况。按照法律法规以及协议、章程的要求出资，提供 真实、合法、完整的验资资料，保护资产的安全、完整是全体股东及南山智尚公司的责任。 我们的责任是对南山智尚公司新增注册资本及股本情况发表审验意见。我们的审验是依据《中 国注册会计师审计准则第1 ...

民生证券股份有限公司、国信证券股份有限公司 关于山东南山智尚科技股份有限公司 向特定对象发行股票发行过程和认购对象 合规性的报告 经中国证券监督管理委员会（以下简称"中国证监会"）《关于同意山东南山 智尚科技股份有限公司向特定对象发行股票注册的批复》（证监许可[2025]169 号）批复，山东南山智尚科技股份有限公司（以下简称"南山智尚"、"发行人"或 "公司"）以向特定对象发行股票的方式向不超过 35 名投资者发行人民币普通股 （A 股）（以下简称"本次发行"）。民生证券股份有限公司（以下简称"民生证券"、 "保荐人（联席主承销商））、国信证券股份有限公司（以下简称"国信证券"， 民生证券与国信证券合称"联席主承销商"）作为本次发行的联席主承销商，认为 南山智尚本次发行过程及认购对象符合《公司法》《证券法》《证券发行与承销 管理办法》《上市公司证券发行注册管理办法》《深圳证券交易所上市公司证券 发行与承销业务实施细则（2025 年修订）》《私募投资基金监督管理条例》以 及《私募投资基金登记备案办法》等有关法律、法规、规章制度的要求及南山智 尚有关本次发行的董事会、股东会决议，发行定价过程符合有关规定，发行对 ...

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。 山东南山智尚科技股份有限公司（以下简称"公司"）向特定对象发行A 股股票（以下简称"本次发行"）的发行承销总结及相关文件已在深圳证券交 易所备案通过，公司将依据相关规定尽快办理本次发行新增股份的登记托管事 宜。 《山东南山智尚科技股份有限公司向特定对象发行A股股票发行情况报告 书》及相关文件于2025年5月21日刊登在中国证监会指定创业板信息披露网站巨 潮资讯网（http://www.cninfo.com.cn），敬请投资者注意查阅。 特此公告。 山东南山智尚科技股份有限公司董事会 2025年5月21日 证券代码：300918 证券简称：南山智尚 公告编号：2025-065 山东南山智尚科技股份有限公司 关于向特定对象发行 A 股股票发行情况报告书披露 的提示性公告 ...

Group 1: Company Overview and Market Position - The company is one of the few integrated companies in the wool textile industry, possessing a complete industrial chain from wool to finished garments, demonstrating strong market competitiveness and risk resistance [2] - The wool textile business is stable, with a solid market share and consistent revenue, providing a strong foundation for overall business performance [2] Group 2: Future Growth Areas - New materials are expected to become the company's second growth curve, with a focus on lightweight materials for the robotics sector [3][5] - The ultra-high molecular weight polyethylene (UHMWPE) fiber production capacity is 3,600 tons, with 12 production lines operating at a balanced production and sales state [3] Group 3: Robotics Market Development - The robotics market is still in its early development stage, with significant uncertainties in downstream market demand, highlighting investment risks [3][5] - The company is actively collaborating with domestic robot manufacturers to adapt product performance parameters and technical standards, aiming for deeper cooperation and potential order conversions [4][7] Group 4: Product Applications and Innovations - UHMWPE fiber is suitable for various applications, including special protection, marine industries, safety protection, functional textiles, and robotics [5][9] - The company is focusing on developing applications for nylon 66 and nylon 6 in robotics, leveraging their high strength and lightweight characteristics [6][8] Group 5: Strategic Partnerships and Collaborations - The company has signed patent cooperation and strategic agreements with Wuhan University and Shouzhihua Innovation, enhancing its research and development capabilities in the robotics field [4][7] - Ongoing projects are in the product verification and technical optimization stages, with plans for further collaboration to accelerate product industrialization [5][9] Group 6: Financial and Investment Updates - The company is progressing steadily with its private placement matters, with updates to be provided in future announcements [3][9]

本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站（ http://rs.p5w.net）；或关注微信公众号（名称：全景财经）；或下载全景 路演APP,参与本次互动交流。活动时间为2025年5月15日（周四）15:00-16:30。 届时公司董事、副总经理兼董事会秘书赵厚杰先生；财务总监徐晓青女士将在 线就公司2024年度业绩、公司治理、发展战略、经营状况、融资计划、股权激 励和可持续发展等投资者关心的问题，与投资者进行沟通与交流，欢迎广大投 资者踊跃参与。 特此公告。 山东南山智尚科技股份有限公司董事会 2025年5月13日 山东南山智尚科技股份有限公司 关于参加 2025 年山东辖区上市公司投资者网上集体 接待日活动的公告 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。 为进一步加强与投资者的互动交流，山东南山智尚科技股份有限公司（以 下简称"公司"）将参加由山东证监局、山东上市公司协会与深圳市全景网络 有限公司联合举办的"2025年山东辖区上市公司投资者网上集体接待日活动"， 现将相关事项公告如下： 证券代码：300918 证券简称：南山智尚 ...

Market Overview - The Shanghai Composite Index fell by 0.30% on May 9, with 7 industries experiencing gains, led by the beauty and personal care sector and banking, which rose by 1.41% and 1.36% respectively. The textile and apparel industry ranked third in terms of gains [1] - The electronic and computer industries faced the largest declines, with drops of 2.07% and 1.96% respectively [1] Capital Flow Analysis - The main capital flow showed a net outflow of 47.4 billion yuan across the two markets, with only 4 industries seeing net inflows. The textile and apparel sector led with a net inflow of 226 million yuan, while the coal industry followed with a slight increase of 0.10% and a net inflow of 186 million yuan [1] - A total of 27 industries experienced net capital outflows, with the electronic industry leading at a net outflow of 9.164 billion yuan, followed by the computer industry with a net outflow of 6.486 billion yuan [1] Textile and Apparel Sector Performance - The textile and apparel industry rose by 0.72% with a total net inflow of 226 million yuan. Out of 104 stocks in this sector, 68 saw gains, including 10 that hit the daily limit [2] - The top stocks by net inflow included Wanshili with 113 million yuan, Huamao Shares with 93.7 million yuan, and Feiyada with 72.7 million yuan [2] - The sector also had stocks with significant net outflows, with the largest being Tanshizhe at 190 million yuan, followed by Nanshan Zhishang and Xunxing Shares with outflows of 79.1 million yuan and 23.3 million yuan respectively [3] Top Gainers and Losers in Textile and Apparel - **Top Gainers**: - Wanshili: +20.03%, turnover rate 15.16%, net inflow 112.7 million yuan - Huamao Shares: +9.90%, turnover rate 10.62%, net inflow 93.7 million yuan - Feiyada: +10.04%, turnover rate 6.16%, net inflow 72.7 million yuan [2] - **Top Losers**: - Tanshizhe: -7.02%, turnover rate 17.38%, net outflow 190.4 million yuan - Nanshan Zhishang: -4.45%, turnover rate 10.08%, net outflow 79.1 million yuan - Xunxing Shares: +2.16%, turnover rate 11.10%, net outflow 23.3 million yuan [3]

Investment Rating - The report maintains a positive outlook on the industry, suggesting an "Increase" rating for the sector [8]. Core Insights - The market for robotic tendons is expected to grow significantly, with projections indicating a market size of 10 trillion yuan by 2045 as humanoid robots advance to Level 5 capabilities [1][27]. - The adoption of tendon transmission systems in robotic hands is increasing due to their advantages in flexibility, lightweight design, and efficiency compared to traditional mechanisms [10][18]. - The report emphasizes the importance of ultra-high molecular weight polyethylene (UHMWPE) as a key material for robotic tendons, highlighting its superior strength-to-weight ratio and cost-effectiveness [3][39]. Summary by Sections 1. Robotic Tendons: Accelerating Penetration and Focus on UHMWPE - Robotic tendons enhance dexterity and lightweight design, with a significant market potential as humanoid robots evolve [1]. - The tendon transmission mechanism mimics human muscle structure, improving speed and precision in robotic applications [10][18]. 2. Market Potential for Robotic Tendons - The introduction of Tesla's Optimus GEN-3 robot, featuring a tendon-based hand with 22 degrees of freedom, indicates a market size of 35.2 billion yuan for tendon systems based on projected sales of 10 million units [2][31]. - The report anticipates further applications of tendons beyond robotic hands, including joints and other structural components [32]. 3. Material Opportunities: Focus on UHMWPE - UHMWPE fibers are recognized for their high strength and low density, making them ideal for robotic tendons [3][39]. - The report notes that domestic manufacturers are rapidly advancing in UHMWPE production, potentially disrupting the current market dominated by foreign companies [40][41]. 4. Key Companies - **Tongyi Zhong**: Leading in UHMWPE fiber production with a capacity of 7,960 tons, focusing on high-strength materials [4][42]. - **Nanshan Zhishang**: Producing 3,600 tons of UHMWPE fibers, with applications in robotic tendons [45]. - **Henghui Security**: Expected to increase its UHMWPE capacity by 4,800 tons, targeting the robotic tendon market [46].

Summary of Nanshan Zhishang Conference Call Company and Industry Overview - **Company**: Nanshan Zhishang - **Industry**: New Materials, specifically focusing on high-performance polymers for robotics and other applications Key Points and Arguments - Nanshan Zhishang has established a unique competitive advantage by connecting with Tesla through Nanshan Aluminum, enabling potential collaboration in material research and new material introduction [2][4] - The Jian Sheng technology route is favored due to its application of bionics and high-performance polyethylene materials, which, despite high processing difficulty, hold significant value comparable to key components like motors [2][5] - Despite deflation risks, companies in the new energy materials sector, including Jian Sheng, are performing well in the A-share market, indicating a stable market structure [2][6] - High-performance polyethylene must meet military-grade standards, creating technical barriers that only a few companies, such as Nanshan Zhishang and Tongyi, can meet [2][7] - Nanshan Zhishang's new materials platform includes not only high-performance polyethylene but also aramid and nylon, which are widely used in humanoid robotics and offer cost advantages [2][12] Additional Important Insights - Nanshan Zhishang is actively expanding its new materials research and customer base, aiming for high-level orders and addressing common issues in robotics with proprietary anti-creep and flame-retardant spinning solutions [3][23] - The company plans to raise 1 billion yuan to advance research and new material development, which is expected to enhance profitability and valuation [2][14] - The market for humanoid robotics may follow a growth pattern similar to that of the photovoltaic or lithium battery industries, with potential risks in the later stages [8][9] - The company has established connections with leading robotics firms and has secured five major orders, indicating strong market demand [12][24] - Nanshan Group's resources, including Nanshan Aluminum, provide significant advantages for Nanshan Zhishang in accessing top-tier clients like Tesla [2][13] - The company’s stock price has faced downward adjustments due to external pressures, but these have largely subsided, positioning the company for potential growth [30] Financial Projections and Market Position - Nanshan Zhishang's current market value is approximately 10 billion yuan, with projected profits of 260 million yuan this year and potential growth to 400 million yuan next year [14][26] - The company’s traditional textile business is expected to contribute around 190 million yuan in profit, while new materials are projected to add approximately 40 million yuan [26][27] - The anticipated market opportunities in robotics could lead to significant revenue, with estimates suggesting a combined valuation exceeding 15 billion yuan across various sectors [28] Future Catalysts - Key catalysts for future growth include progress in sample submissions to Tesla, large order placements expected in the second quarter, and new product launches [29] This summary encapsulates the essential insights from the conference call, highlighting Nanshan Zhishang's strategic positioning, market dynamics, and future growth potential in the new materials sector.

Group 1: Core Views - The recent upgrades in stock ratings by brokerages are primarily concentrated in sectors with significant performance growth, rising industry sentiment, or turnaround situations, particularly in AI and robotics [2][5] - The number of stocks downgraded by brokerages has reached a year-to-date high, with notable downgrades in the coal and tourism sectors [5][6] Group 2: Upgraded Stocks - Multiple stocks in the AI and robotics sectors have received rating upgrades, including: - Platinum New Materials, with a projected net profit of 376 million yuan for 2024, a year-on-year increase of 46.9% [2] - Huichang Communications, expected to achieve a net profit of 29 million yuan in 2024, turning profitable with a 12.28% year-on-year revenue growth in Q1 [2] - Beijing Junzheng, with Q1 revenue of 1.06 billion yuan, a 5.3% year-on-year increase, and anticipated market recovery [3] - Keli Sensor, reporting a net profit of 76 million yuan in Q1, a nearly 76% year-on-year increase [3] - Nanshan Zhishang, recognized for its leading position in domestic wool spinning and new materials applications [3][4] Group 3: Downgraded Stocks - Several coal stocks have been downgraded, including: - Shanxi Coking Coal and Pingmei Shenma, downgraded to "overweight" due to weak coking coal prices [5] - Shanmei International, also downgraded to "overweight" despite low mining costs and potential production increases [5] - The tourism sector has seen downgrades, such as: - Jinjiang Hotels, with a Q1 net profit of 36 million yuan, down 81% year-on-year [5] - Miao Exhibition, downgraded due to declining revenue amid intensified competition [6] Group 4: Market Outlook - Brokerages are optimistic about AI and high-dividend sectors for May, with expectations of a continued oscillating market [7] - Recommendations include focusing on three main directions: financial dividends, self-sufficiency in industries like military, and domestic consumption [7] - The market is expected to follow a gentle recovery path, with attention on cyclical sectors and growth styles, particularly in AI and robotics [7]