北京市东城区建国门内大街 26 号新闻大厦 7 层、8 层 电话：010-88004488/66090088 传真：010-66090016 邮编：100005 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 2025 年第一次临时股东大会的 法律意见书 国枫律股字[2025]A0461 号 致：山东南山智尚科技股份有限公司（贵公司） 北京国枫律师事务所（以下简称"本所"）接受贵公司的委托，指派律师出席并见 证贵公司 2025 年第一次临时股东大会（以下简称"本次会议"）。 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》"）、《上市公司股东会规则》（以下简称 "《股东会规则》"）、《律师事务所从事证券法律业务管理办法》（以下简称"《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）》（以下简 称"《证券法律业务执业规则》"）等相关法律、行政法规、规章、规范性文件及《山 东南山智尚科技股份有限公司章程》（以下简称"《公司章程》"）的规定，就本次会 议的召集与召开程序、召集人资格、出席会议人员资格、会议表决程序及表决结果等 ...

Market Performance - The textile manufacturing sector increased by 1.38% on September 16, with Nanshan Zhishang leading the gains [1] - The Shanghai Composite Index closed at 3861.87, up 0.04%, while the Shenzhen Component Index closed at 13063.97, up 0.45% [1] Key Stocks in Textile Manufacturing - Nanshan Zhishang (300918) closed at 26.20, up 10.92%, with a trading volume of 607,000 shares and a turnover of 1.568 billion yuan [1] - Wanshili (301066) closed at 15.85, up 8.04%, with a trading volume of 173,600 shares and a turnover of 275 million yuan [1] - Huafang Co. (600448) closed at 3.79, up 5.87%, with a trading volume of 1.6036 million shares and a turnover of 607 million yuan [1] Capital Flow Analysis - The textile manufacturing sector saw a net inflow of 97.28 million yuan from institutional investors, while retail investors experienced a net outflow of 15.15 million yuan [2] - Major stocks like Huafang Co. had a net inflow of 83.19 million yuan from institutional investors, indicating strong institutional interest [3] Individual Stock Performance - Huafang Co. (600448) had a significant institutional net inflow of 83.19 million yuan, while retail investors showed a net outflow of 63.01 million yuan [3] - Wanshili (301066) experienced a net inflow of 26.97 million yuan from institutional investors, but also saw a net outflow of 1.80 million yuan from retail investors [3]

Core Viewpoint - The article highlights the recent surge in the A-share market, particularly in the consumer and technology sectors, driven by strong performances in specific stocks and sectors such as humanoid robots and e-commerce [3][10]. Group 1: A-Share Market Performance - The A-share market saw significant movements with the consumer and technology sectors experiencing a breakout, particularly driven by the rise of Douyin-related stocks and humanoid robot stocks [3]. - The Shanghai Composite Index fell by 0.1%, the Shenzhen Component Index decreased by 0.26%, and the ChiNext Index dropped by 0.32% as of the morning close [5]. Group 2: Humanoid Robot Sector - The humanoid robot sector showed a strong recovery, with stocks like Hanwei Technology, Hengshuai Co., and Nanshan Zhishang experiencing substantial gains [7]. - Key stocks in the humanoid robot sector included Hanwei Technology, which surged by 20% with a market cap of 18.4 billion, and Hengshuai Co., which rose by 14.35% [8][9]. Group 3: Catalysts for Humanoid Robot Sector - Recent catalysts for the humanoid robot sector include the announcement by Yushun Technology regarding the open-source UnifoLM-WMA-0 model, designed for general robot learning [10]. - Yushun Technology is also preparing for an IPO, expected to submit documents between October and December [10]. - Strategic partnerships, such as the one between Duolun Technology and Zhongqing Robot, aim to enhance the application of intelligent robots in various fields [11]. Group 4: Drug Development Company Performance - The stock of Yaojie Ankang surged by 49.16% in the Hong Kong market, continuing a trend of significant increases over the past few days [13]. - Yaojie Ankang, which focuses on developing innovative therapies for cancer and other diseases, reported a 65.1% decline in other income and revenue for the first half of the year [16].

Core Viewpoint - The article highlights the launch of the "Fabric Tactile Smart Gloves" by Nanshan Zhishang, showcasing its innovative features and potential applications in various fields such as humanoid robotics and virtual reality [2]. Group 1: Product Launch and Features - Nanshan Zhishang introduced the "Fabric Tactile Smart Gloves" on September 12, emphasizing its integration of flexible sensing and drive technologies, enabling a high level of interaction and data collection [2]. - The gloves represent a significant advancement in tactile digitalization, moving from concept to reality, particularly in remote operation and data acquisition scenarios [2]. Group 2: Strategic Partnerships - Nanshan Zhishang has established strategic cooperation with Junsheng Electronics, Longsheng Bearings, and Yihaiyuan, focusing on production collaboration in the supply chain for humanoid robots [2][3]. - The collaboration aims to develop new materials for key components of humanoid robots, enhancing durability and reliability in various parts such as the head and chest [2]. Group 3: Production Capabilities - Nanshan Zhishang has built a production line capable of producing 3,600 tons of ultra-high molecular weight polyethylene fibers and 80,000 tons of differentiated nylon filaments, which will support the mass supply of materials for humanoid robots [2]. - The company is prepared to meet future production demands for millions of humanoid robots, ensuring high durability and reliability in their components [2].

Investment Rating - The report maintains a rating of "Overweight" for the light industry manufacturing sector [1]. Core Insights - The report highlights the listing of Daxing Technology, the leading company in the folding bicycle market, which holds a market share of 36.5% in sales. The company is expected to achieve a revenue of 450 million yuan in 2024, with a compound annual growth rate (CAGR) of 33.1% from 2022 to 2024. The sales volume is projected to reach 229,500 units in 2024, with a CAGR of 24.1% during the same period. The folding bicycle segment is characterized as a low penetration, high growth niche market, suitable for urban applications and with a low barrier to entry for new riders [5][6]. Summary by Sections Market Overview - The light industry manufacturing index increased by 1.88% from September 8 to September 12, 2025, ranking 13th among 28 Shenwan industries. The textile and apparel index rose by 0.67%, ranking 20th [10]. Key Company Performance - Daxing Technology has established a comprehensive sales network covering offline, online, and overseas markets, with 680 domestic dealerships as of April 2025. The company has significant potential for market expansion, particularly in overseas channels, where it generated approximately 30 million yuan in revenue in 2024 [5][6]. Investment Opportunities - The report suggests actively monitoring the folding bicycle sector due to its high growth potential and the competitive advantages of leading companies like Daxing Technology. Additionally, it emphasizes investment opportunities in the consumer supply chain as companies expand overseas, particularly in packaging and hygiene products [5][6]. Sector Recommendations - The report recommends focusing on companies with strong growth potential in the new consumer market, particularly in the trendy toy segment, and highlights the performance of companies like Pop Mart and Morning Glory, which are expected to benefit from expanding demand and market presence [6][67].

南山智尚（300918.SZ）9月15日在投资者互动平台表示，公司腱绳产品已持续迭代多款产品：高强腱 绳、低蠕变腱绳、高耐磨腱绳、弹性腱绳等，覆盖人形机器人灵巧手、仿生机器人本体传动应用，相关 腱绳在基础超高分子量聚乙烯纤维的基础上，进行外表加固、包覆低摩擦高分子材料等工艺，性能提升 明显。现阶段，已多次向国内外头部机器人本体、灵巧手厂商完成送样，其中部分厂商已获得小批量订 单。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：两个问题：1.请介绍下公示人形机器人腱绳迭代进展情 况。2.腱绳除送样国内机器人公司，是否送样国外机器人头部公司？如果有，反馈怎样？ ...

每经AI快讯，有投资者在投资者互动平台提问：两个问题：1.请介绍下公示人形机器人腱绳迭代进展情 况。2.腱绳除送样国内机器人公司，是否送样国外机器人头部公司？如果有，反馈怎样？ 南山智尚（300918.SZ）9月15日在投资者互动平台表示，公司腱绳产品已持续迭代多款产品：高强腱 绳、低蠕变腱绳、高耐磨腱绳、弹性腱绳等，覆盖人形机器人灵巧手、仿生机器人本体传动应用，相关 腱绳在基础超高分子量聚乙烯纤维的基础上，进行外表加固、包覆低摩擦高分子材料等工艺，性能提升 明显。现阶段，已多次向国内外头部机器人本体、灵巧手厂商完成送样，其中部分厂商已获得小批量订 单。 （记者 谭玉涵） ...

Core Viewpoint - Nanshan Zhishang (300918.SZ) has launched a new fabric tactile smart glove that integrates flexible sensing and actuating fiber technologies, enabling remote control and data collection functionalities, which can be applied in humanoid robot dexterous hand systems [1] Company Summary - The newly released smart glove features innovative technologies such as flexible sensing and actuating fibers [1] - The glove is designed for applications in humanoid robotics, particularly in dexterous hand systems [1]

Core Viewpoint - The company, Nanshan Zhishang, focuses on the research and innovation of tendon products, which are essential for the development of dexterous hands used in humanoid robots [1] Group 1 - The company confirmed that its newly developed tendon products can be adapted for dexterous hand drive systems [1] - These tendon products provide critical transmission support for dexterous hands, ensuring stable operation and precision in fine task scenarios for humanoid robots [1]

Core Viewpoint - The company Nanshan Zhishang has developed fabric tactile smart gloves that can be utilized in humanoid robot dexterous hand systems, featuring innovative technologies such as flexible sensing and integrated fiber for remote operation control and data collection [1] Group 1 - The company responded to an investor inquiry regarding the application of its fabric tactile smart gloves in robotics [1] - The newly released smart gloves are equipped with advanced technologies that enable remote operation and data collection capabilities [1] - The gloves are specifically designed for use in humanoid robot dexterous hand systems, indicating potential applications in robotics [1]