北京德恒律师事务所 关于 宁波星源卓镁技术股份有限公司 2025 年第一次临时股东大会的 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 北京德恒律师事务所 关于宁波星源卓镁技术股份有限公司 2025 年第一次临时股东大会的法律意见 北京德恒律师事务所 关于宁波星源卓镁技术股份有限公司 2025 年第一次临时股东大会的 法律意见 德恒01G20250209号 致：宁波星源卓镁技术股份有限公司 受宁波星源卓镁技术股份有限公司（以下简称"星源卓镁"或"公司"）委托和 北京德恒律师事务所（以下简称"本所"）委派，本所律师为星源卓镁 2025 年第 一次临时股东大会出具法律意见。 根据《中华人民共和国证券法》（以下简称"《证券法》"）、《中华人民共 和国公司法》（以下简称"《公司法》"）、《上市公司股东大会规则》（以下简 称"《股东大会规则》"）、《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）等法律、法规和规范性文件的要求以及 《宁波星源卓镁技术股份有限公司章程》（以下简称"《公 ...

宁波星源卓镁技术股份有限公司 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： 证券代码：301398 证券简称：星源卓镁 公告编号：2025-043 （六）本次股东大会会议的召集、召开程序符合《中华人民共和国公司法》 等有关法律、行政法规、部门规章、规范性文件和《公司章程》的规定。 （七）会议出席情况： 1. 本次股东大会未出现否决议案的情形； 2. 本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 （一）会议召开时间： 1.现场会议时间：2025年9月15日（星期一）14:30。 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具体时间为： 2025年9月15日9:15-9:25，9:30-11:30，13:00-15:00；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9月15日9:15-15:00期间的任意时间。 （二）会议召开地点：浙江省宁波市北仑区大碶街道璎珞河路139号四楼高 层会议室。 （三）会议召开方式：本次股东大会采取现场表决与网络投票相结合 ...

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The low-altitude economy is gaining momentum with significant policy support and market developments, including the issuance of the first overseas pilot license for a manned aircraft by Xiaopeng Huaitian and a procurement agreement for 350 eVTOLs with Autocraft [17][25] - The average stock performance in the low-altitude economy sector increased by 2.3% from September 8 to September 12, with notable gains from companies like Wolong Electric Drive (+19.9%) and Changyuan Donggu (+18.4%) [4][10] Summary by Sections Industry Dynamics - On September 6, Wenchang City released a draft for the low-altitude economy industry development plan, focusing on aerospace equipment and general aviation, aiming to create a composite industry system integrating low-altitude economy, aerospace, and cultural tourism [22] - Sichuan Province announced a smart agriculture plan on September 9, targeting the establishment of 20 agricultural low-altitude demonstration sites by 2025 and 100 by 2028, with a goal of having over 15,000 agricultural drones [23] Individual Company Developments - Xiaopeng Huaitian's "Land Aircraft" received the first overseas pilot license for a Chinese enterprise, marking a breakthrough in the Middle East market for eVTOLs [25] - Ping An Property & Casualty disclosed that it has insured over 150,000 drones, providing risk coverage exceeding 90 billion yuan, and has established a new risk research institute for the low-altitude economy [26] - Chengdu Iron Tower proposed the creation of a "three-network" system for the low-altitude economy, covering eight application scenarios, leveraging its extensive site resources [27]

Core Viewpoint - Xingyuan Zhuomei's stock price increased by 5.21% with a trading volume turnover rate of 48.13%, indicating significant market activity and interest in the stock [2] Trading Activity - The total trading volume for the day reached 8.51 billion yuan, with a price fluctuation of 18.07% [2] - Institutional investors net bought 23.07 million yuan, while brokerage seats collectively net sold 48.44 million yuan [2] - The stock was listed on the Shenzhen Stock Exchange due to its high turnover rate of 48.13% [2] Institutional Participation - The top five trading departments accounted for a total transaction volume of 196 million yuan, with a buying amount of 85.23 million yuan and a selling amount of 111 million yuan, resulting in a net selling of 25.37 million yuan [2] - Four institutional specialized seats were involved in the trading, with a total buying amount of 63.87 million yuan and a selling amount of 40.80 million yuan, leading to a net buying of 23.07 million yuan [2] Fund Flow - The stock experienced a net inflow of 8.28 million yuan from major funds, with a significant inflow of 11.34 million yuan from large orders, while large orders saw a net outflow of 3.06 million yuan [2] - Over the past five days, the net inflow of major funds amounted to 153 million yuan [2]

（原标题：36只创业板股换手率超20%） 创业板指今日上涨5.15%，报收3053.75点，创业板全日成交额7042.61亿元，比上个交易日增加1370.09 亿元。今日可交易创业板股中，1166只股收盘上涨，涨幅超过10%的有25只，其中，金信诺、南风股 份、鼎泰高科等7股涨停，涨幅在5%至10%之间的有89只，收盘下跌的有205只，跌幅超10%的有1只。 证券时报•数据宝统计显示，换手率方面，创业板今日平均换手率为4.77%，换手率区间分布显示，换手 率超过20%的有36只，换手率10%~20%之间的有137只，换手率5%~10%的有369只，换手率1%~5%的有 823只，换手率不足1%的有21只。 换手率最高的是C艾芬达，该股为上市5日内的新股，收盘跌幅为4.36%，换手率66.03%，日成交额7.46 亿元，全天主力资金净流入1658.89万元；其次是元道通信，该股今日收盘上涨1.65%，全天换手率 57.22%，成交额10.45亿元；换手率居前的还有星源卓镁、北方长龙、晓程科技等，换手率分别为 48.13%、35.89%、35.56%。 统计显示，换手率超20%的高换手率个股中，C艾芬达为上市5日 ...

融券方面，当日无融券交易。 融资融券余额1.27亿元，较昨日上涨2.3%。 | 交易日 | 两融余额(元) | 余额变动(元) | 变动幅度 | | --- | --- | --- | --- | | 2025-09-10 | 1.27亿 | 284.61万 | 2.30% | | 2025-09-09 | 1.24亿 | 64.71万 | 0.53% | | 2025-09-08 | 1.23亿 | 446.98万 | 3.77% | | 2025-09-05 | 261"I | 418.85万 | 3.66% | | 2025-09-04 | 1.15亿 | 299.89万 | 2.69% | 证券之星消息，9月10日，星源卓镁（301398）融资买入7482.13万元，融资偿还7197.52万元，融资净买 入284.61万元，融资余额1.27亿元，近3个交易日已连续净买入累计796.3万元，近20个交易日中有12个 交易日出现融资净买入。 | 交易日 | 融资净买入(元) | 融资余额(元) | 占流通市值比 | | --- | --- | --- | --- | | 2025-09-10 | 284. ...

星源卓镁今日上涨10.23%，全天换手率50.94%，成交额9.29亿元，振幅11.51%。龙虎榜数据显示，机构 净卖出3051.94万元，营业部席位合计净买入4947.86万元。 星源卓镁9月10日交易公开信息 | 买/ 卖 | 会员营业部名称 | 买入金额（万元） | 卖出金额（万元） | | --- | --- | --- | --- | | 买一 | 东方证券股份有限公司上海松江区沪亭北路证券营业 部 | 2163.58 | 2.16 | | 买二 | 机构专用 | 2019.45 | 0.57 | | 买三 | 华鑫证券有限责任公司上海茅台路证券营业部 | 1986.46 | 1.11 | | 买四 | 中泰证券股份有限公司常州惠国路证券营业部 | 1784.56 | 7.49 | | 买五 | 东亚前海证券有限责任公司上海分公司 | 1481.82 | 0.00 | | 卖一 | 机构专用 | 0.00 | 3685.03 | | 卖二 | 中信证券股份有限公司北京首体南路证券营业部 | 0.00 | 1705.83 | | 卖三 | 机构专用 | 724.82 | 1485.69 | | 卖四 ...

Group 1 - The stock of Xingyuan Zhuomei has shown strong performance, reaching a price of 56.87 yuan with a 20.00% increase and a trading volume of 3.87 billion yuan, indicating strong upward momentum [1] - From June 24 to August 20, Xingyuan Zhuomei recorded an 81.04% increase, with a peak price of 59.58 yuan, reflecting sustained market interest [3] - The core logic behind the market speculation on Xingyuan Zhuomei is the explosive growth of magnesium alloy lightweight concepts, which can achieve a weight reduction of 25%-35% compared to aluminum alloys, making it a crucial material for the automotive industry [3] Group 2 - The company is a pioneer in the magnesium alloy die-casting field, possessing significant first-mover advantages and technical barriers [3] - A report from Southwest Securities on September 1 gave a buy rating, indicating that the company's magnesium alloy products are about to enter a phase of significant growth [3] - The company has received approval for a convertible bond project to raise up to 450 million yuan for the annual production of 3 million sets of high-strength large magnesium alloy precision forming parts for automobiles [3] Group 3 - The company has secured a designated project for new energy vehicle components, with an expected total sales of 650 million yuan, and is preparing for mass production from 2026 to 2029 [3] - Magnesium alloys, being lighter and stronger than aluminum alloys, have significant replacement potential in the lightweight trend of new energy vehicles [4] - The application of magnesium alloy technology by leading automotive companies like BYD is expected to trigger a follow-up effect in the industry, promoting rapid development across the entire magnesium alloy supply chain [4]

Core Viewpoint - Ningbo Xingyuan Zhuomei Technology Co., Ltd. is in the process of issuing convertible bonds to raise funds for a project aimed at producing 3 million sets of high-strength magnesium alloy precision forming parts for automobiles, with a total fundraising amount not exceeding 450 million yuan [3][4][5]. Group 1: Company Announcements - The application for issuing convertible bonds has been approved by the Shenzhen Stock Exchange, and the company is awaiting registration from the China Securities Regulatory Commission [3][5]. - The company reported continuous growth in main business revenue, with a stable cash flow and good collection situation, despite some fluctuations in gross profit margin due to raw material price changes [3][4][6]. - The proposed investment project has received environmental and energy assessments, and the investment scale is deemed reasonable with cautious profit forecasts [6]. Group 2: Financial Information - The company’s main credit rating is A, with a stable outlook, and the bond credit rating is A+ [4][5]. - The company has distributed a total of 83.2 million yuan in cash dividends over the past three years, which accounts for 115.21% of the average annual net profit [5]. - On September 9, the stock closed at 47.39 yuan, down 2.49%, with a trading volume of 36,800 shares and a turnover of 175 million yuan [1].

Core Viewpoint - Xingyuan Zhuomei has responded to the Shenzhen Stock Exchange's inquiry regarding its application for issuing convertible bonds, providing detailed explanations on financial fluctuations and project planning [1][4]. Financial Performance - The company's main business revenue for the reporting period was 214.68 million, 265.98 million, 346.83 million, and 285.20 million, showing a growth trend [1]. - The net cash flow from operating activities was lower than net profit from 2021 to 2024, primarily due to changes in inventory and operating receivables, as well as non-cash expenses [1]. - In the first half of 2025, net cash flow from operating activities exceeded net profit, attributed to an increase in cash received from sales and government subsidies [1]. Profitability Metrics - The gross profit margins from 2021 to June 2025 were 41.65%, 36.41%, 34.83%, 35.43%, and 30.72%, indicating a downward trend influenced by raw material price fluctuations [2]. - The cost of raw materials for magnesium alloy die-casting increased by approximately 57.59% in 2022, leading to a 9.76 percentage point decline in gross margin compared to the previous year [2]. - Xingyuan Zhuomei maintains a higher gross margin compared to industry peers due to its business focus, operational scale, and strategic choices [2]. Sales and Inventory Management - The company's foreign sales revenue closely matched export customs declaration amounts and tax refunds, indicating reliable collection from foreign clients [3]. - Inventory levels increased significantly during the reporting period, justified by business growth and raw material stocking [3]. - The inventory structure primarily consists of raw materials, work-in-progress, and finished goods, with a consistent proportion above 85% across reporting periods [3]. Fundraising and Project Investment - Xingyuan Zhuomei plans to raise up to 450 million RMB for a project to produce 3 million sets of high-strength magnesium alloy precision components for automobiles [4]. - The investment scale of the project is reasonable, with unit capacity investment lower than the industry average, and all project details are conservatively estimated [4]. - Although the project may lead to increased depreciation and dilution of net asset returns in the short term, it is expected to significantly enhance the company's long-term profitability [4].