深圳市福田区中心五路 18 号星河中心大厦 19 层 电话：0755-23993388 传真：0755-86186205 邮编：518048 北京国枫（深圳）律师事务所 关于奕东电子科技股份有限公司 2025 年第四次临时股东会的 法律意见书 国枫律股字[2025]C0147 号 致：奕东电子科技股份有限公司（贵公司） 北京国枫（深圳）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 年第四次临时股东会（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《奕东电子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事宜，出具本法律意见书。 对本法律意见书的出具，本所 ...

证券代码：301123 证券简称：奕东电子 公告编号：2025-076 奕东电子科技股份有限公司 2025 年第四次临时股东会决议公告 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、本次股东会召开期间无增加、变更、否决议案的情况； 2、本次股东会未有涉及变更以往股东会已通过的决议； 3、本次股东会以现场投票和网络投票相结合的方式召开。 一、会议召开和出席情况 1、召集人：奕东电子科技股份有限公司（以下简称"公司"）董事会。 5、会议主持人：董事长邓玉泉先生。 6、会议出席情况： 1 （1）股东出席会议总体情况： 通过现场和网络投票的股东 72 人，代表股份 159,407,076 股，占公司有表决权股 份总数的 67.9369%。 其中：通过现场投票的股东 7 人，代表股份 154,837,387 股，占公司有表决权股 份总数的 65.9893%。 2、召开方式：现场投票和网络投票相结合的方式召开。 3、召开时间： （1）现场会议时间为：2025 年 12 月 16 日（星期二）下午 15:00； （2）网络投票时间为：2025 年 12 月 ...

Core Viewpoint - The article discusses whether the current liquid cooling concept stocks are a bubble or the beginning of long-term strategic investments, and it explores the potential market size for liquid cooling in the coming year [1][3][13]. Company Developments - Lens Technology (蓝思科技) announced plans to acquire 100% of PMG International Co., LTD, aiming to quickly gain mature technology and customer certifications in the server cabinet business, along with advanced liquid cooling system integration capabilities [2][4]. - Other companies such as Zhongshi Technology (中石科技), Yidong Electronics (奕东电子), and Chunqiu Electronics (春秋电子) have also made moves to enter the liquid cooling sector, indicating a trend of capital influx into this market [2][8]. Market Performance - The liquid cooling server index has seen a significant increase of 49.66% year-to-date, with several component stocks doubling in price [2][12]. - Notable stock performances include Siquan New Materials (思泉新材) with a 286.21% increase, Yinvike (英维克) at 155.36%, and Kexin New Source (科创新源) at 123.97% [12]. Market Potential - The liquid cooling market is projected to exceed 100 billion yuan, with specific components like cold plates estimated to have a market size of around 30 to 40 billion yuan [13]. - Analysts predict that by 2026, the liquid cooling market for computing power will surpass 100 billion yuan, driven by the increasing demand for high-density computing and the limitations of traditional air cooling [14].

Group 1: Commercial Aerospace - SpaceX plans to conduct an IPO in 2026, aiming to raise several billion dollars, marking a new phase of commercialization and capitalization in the commercial aerospace industry [3] - China's recent successful launch of multiple satellites demonstrates its growing capabilities in space exploration, with an increasing frequency of launches expected to drive exponential growth in orders for upstream suppliers [3][4] - Companies like Guanglian Aviation are positioned to benefit significantly from the anticipated increase in commercial rocket launches, with potential revenue growth reaching tens of billions [4] Group 2: AI and Server Technology - The demand for AI computing power is escalating, with power consumption for AI models increasing significantly, leading to a shift from traditional air cooling to liquid cooling solutions [6] - Companies with rare certification for liquid cooling solutions are expected to see a revaluation of their worth due to the high technical barriers and increased average selling prices [6] - The AI server supply chain is evolving, with investments shifting towards companies that possess high technical barriers and rare certifications, which will likely enjoy valuation premiums [6][9] Group 3: Humanoid Robots - Tesla's Optimus has initiated the supplier review process, indicating that humanoid robots are on the verge of mass production, with Chinese companies expected to surpass Tesla in production scale by 2026 [7] - Key components such as lightweight materials and advanced sensors are critical for the development of humanoid robots, with companies like Ningbo Huaxiang collaborating on innovative materials [8][10] - Investment strategies should prioritize core components over complete systems, focusing on companies with high technical barriers and established supply chains [11] Group 4: Semiconductor Industry - The demand for high-bandwidth memory (HBM) is surging due to AI chip requirements, prompting a rapid evolution in HBM technology and a focus on domestic production capabilities [12] - Companies like Huahai Chengke are positioned to capture significant market share in the HBM materials sector, with potential revenues reaching 3 billion yuan [14] - The semiconductor investment landscape is shifting towards companies that can achieve substantial breakthroughs and secure orders in high-demand areas like HBM and advanced packaging [12] Group 5: Energy Sector - The energy market is experiencing a transition, with gas turbines expected to maintain strong demand through 2035, benefiting companies like Yingliu [15] - Nuclear fusion technology is advancing, with Chinese teams making significant progress, positioning companies like China Uranium Industry as future leaders in energy solutions [16] - Investment strategies should focus on both immediate opportunities in gas turbines and long-term potential in nuclear fusion technologies [16] Group 6: Optical Communication - The optical communication sector is transitioning from 800G to 1.6T technology, significantly increasing the demand for core materials like indium phosphide [17] - Companies that have achieved breakthroughs in domestic production of critical components for optical modules are expected to benefit from industry growth and market share increases [17][21] - Investment in optical communication should align with the dual themes of speed upgrades and domestic substitution [17] Group 7: Macro Variables - The Federal Reserve's recent interest rate cut is expected to create a more favorable liquidity environment for growth-oriented technology stocks, particularly those sensitive to interest rates [18][22] - The anticipated improvement in financing conditions will support technology companies in sectors like commercial aerospace, AI, and robotics that require substantial R&D investments [22] - Investors should focus on identifying companies with real technological barriers and clear growth paths in the evolving landscape of hard technology [23]

Core Viewpoint - The company, Yidong Electronics, announced a share reduction plan by its controlling shareholder and related parties, which has begun to take effect, resulting in a decrease in their total shareholding percentage from 66.99% to 65.99% [1][2] Group 1: Share Reduction Announcement - Yidong Electronics disclosed a plan for its controlling shareholder and related parties to reduce their holdings by up to 6,916,833 shares, representing 2.96% of the total share capital [1] - The reduction will occur within three months following the announcement, using centralized bidding and block trading methods [1] - The shareholders involved include Wang Gang and several investment partnerships controlled by the actual controller, Deng Yuquan [1][2] Group 2: Progress of Share Reduction - From December 8 to December 9, 2025, the shareholders reduced their holdings by 2,346,400 shares, which is 1% of the total share capital [2] - The weighted average price during the reduction period was 45.40 yuan per share, resulting in a cash-out of approximately 107 million yuan [2] - The company confirmed that the reduction aligns with the previously disclosed plan and has not exceeded the agreed number of shares to be reduced [2] Group 3: Company Financials and IPO Details - Yidong Electronics was listed on the Shenzhen Stock Exchange's Growth Enterprise Market on January 25, 2022, with an issuance of 58,400,000 shares at a price of 37.23 yuan per share [3] - The total funds raised from the IPO amounted to approximately 2.17 billion yuan, with a net amount of about 1.97 billion yuan after expenses [4] - The company reported revenues of 1.47 billion yuan and 1.71 billion yuan for 2023 and 2024, respectively, with net profits of 2.14 million yuan and a loss of 40.01 million yuan for the same years [4]

Group 1: Dividend Indices - The Low Volatility Dividend Index (H30269.CSI) includes 50 securities with good liquidity, continuous dividends, moderate payout ratios, positive growth in dividends per share, high dividend yields, and low volatility, with a 1-year dividend yield of 4.21% as of December 10 [1] - The Dividend Quality Index (931468.CSI) consists of 50 listed companies that provide continuous cash dividends, have high payout ratios, and exhibit strong profitability, with a 1-year dividend yield of 3.48% as of December 10 [1] Group 2: Company Dividend Announcements - Kweichow Moutai announced a cash dividend of 23.957 RMB per share (tax included), with the record date on December 18, 2025, and the ex-dividend date on December 19, 2025 [1] - Wuliangye announced a cash dividend of 25.78 RMB for every 10 shares (tax included), with the record date on December 17, 2025, and the ex-dividend date on December 18, 2025 [2] - Yidong Electronics declared a cash dividend of 1.00 RMB for every 10 shares (tax included), with the record date on December 16, 2025, and the ex-dividend date on December 17, 2025 [2] - Shouchuang Securities announced a cash dividend of 0.10 RMB per share (tax included), with the record date on December 18, 2025, and the ex-dividend date on December 19, 2025 [2] - Ningbo Bank declared a cash dividend of 3.00 RMB for every 10 shares (tax included), with the record date on December 16, 2025, and the ex-dividend date on December 17, 2025 [3] - Marco Polo announced a cash dividend of 3.00 RMB for every 10 shares (tax included), with the record date on December 17, 2025, and the ex-dividend date on December 18, 2025 [3]

Group 1 - The core viewpoint of the announcement is that Yidong Electronics has declared a cash dividend distribution plan for the first three quarters of 2025, proposing a distribution of 1 RMB per 10 shares (including tax) [2] - The record date for the dividend distribution is set for December 16, 2025, and the ex-dividend date is December 17, 2025 [2]

证券代码：301123 证券简称：奕东电子 公告编号：2025-075 奕东电子科技股份有限公司 2025年前三季度权益分派实施公告 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、奕东电子科技股份有限公司（以下简称"公司"）2025 年前三季度权益分派方案 已获 2025 年 11 月 12 日召开的 2025 年第二次临时股东会审议通过。公司回购专用证券 账户中的股份 3,038,900 股不参与本次权益分派。公司 2025 年前三季度权益分派方案 为：以实施权益分派股权登记日总股本（扣除回购专用证券账户中股份）为基数，向 全体股东按每 10 股派发现金股利人民币 1.000000 元（含税），实际派发现金分红总额 为 23,160,110.00 元（含税）。本次权益分派不送红股，不以资本公积金转增股本。 2、按 A 股除权前总股本（含回购股份及其他不参与分红的股份）计算的每 10 股 派发现金红利为 0.987048 元。本次权益分派实施后，根据股票市值不变原则，实施权 益分派前后公司总股本保持不变。每股现金红利=现金分红总额/总股本（含 ...

Core Viewpoint - The company announced that its controlling shareholder and concerted actors will reduce their shareholding by 2.3464 million shares, representing 1% of the total share capital, in line with previously disclosed plans [1] Group 1: Shareholding Changes - The shareholding ratio of the controlling shareholder and concerted actors will decrease from 66.99% to 65.99% after the reduction [1] - The reduction will occur between December 8 and December 9, 2025, through centralized bidding and block trading methods [1] - The number of shares reduced does not exceed the amount specified in the previously announced reduction plan and complies with relevant commitments [1]

证券代码：301123 证券简称：奕东电子 公告编号：2025-074 奕东电子科技股份有限公司 关于控股股东、实际控制人的一致行动人减持股份 触及 1%整数倍的提示性公告 2 | 变动方向 | 上升□下降 | 一致行动人 | | 有☑ 无□ | | | | --- | --- | --- | --- | --- | --- | --- | | ☑ | | | | | | | | 是 否 为 第 一 大 股东或实际控制 | 是□ 否☑ | | | | | | | 人 | | | | | | | | 2.本次权益变动情况 | | | | | | | | 股份种类（A 股、 B 股等） | 减持股数（股） | | 占公司总股 本比例（%） | | 占剔除回购专户持股数 后的总股本比例(%) | | | （A 股） | 2,346,400 | | 1.00 | | 1.01 | | | 合 计 | 2,346,400 | | 1.00 | | 1.01 | | | 本次权益的变动 方式 | 通过证券交易所的集中交易 | | ☑ | | | | | （可多选） | 通过证券交易所的大宗交易 | | ☑ | | | | ...