本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 东风电子科技股份有限公司 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一) 股东大会召开的时间：2025 年 06 月 26 日 (二) 股东大会召开的地点：上海市闵行区浦江镇新骏环路 88 号 13B 证券代码：600081 证券简称：东风科技 公告编号：2025-029 2024年年度股东大会决议公告 (三) 出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 307 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 416,523,971 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 75.3172 | (四) 表决方式是否符合《公司法》及《公司章程》的规定，股东大会主持情况 等。 本次会议由公司董事会召集，采取现场和网络投票相结合的方式召开，现场 会议由公司董事长蔡士龙先生主持。现场会议采取记名投票表决的 ...

JIN MAO P.R.C.LAWYERS 金 茂 律 师 事 务 所 40th Floor, Bund Center, 222 East Yan Road, Shanghai 200002, China 中国 上海 200002 延安东路222号 外滩中心 40楼 Tel/电话:(8621) 6249 6040 Fax/传真:(8621) 6249 5611 E-mail/电子信箱：info@jinmao.com.cn 上海市金茂律师事务所 关于东风电子科技股份有限公司 2024年年度股东会的法律意见书 致：东风电子科技股份有限公司 东风电子科技股份有限公司（以下简称"公司"）2024年年度股东会（以下 简称"本次股东会"）于2025年6月26日召开。上海市金茂律师事务所（以下简 称"本所"）经公司聘请，委派吴伯庆律师、杨红良律师（以下简称"本所律师"） 出席会议，并根据《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》"）、中国证券监督管理委员会 《上市公司股东会规则》（以下简称"《股东会规则》"）等相关法律、法规和 规范性文件及《公司章程》《公司股东会议 ...

Domestic News - Fujian Province has issued a long-term plan for hydrogen energy industry innovation, aiming to establish over 10 high-level innovation platforms and achieve a production capacity of 30,000 tons/year of green hydrogen by 2035 [3] - In May, the Shanghai South Port exported 72,000 vehicles, marking a 200.9% year-on-year increase, with a total of 222,000 vehicles exported in the first five months, a 37.9% increase [4] - Hongqi's hydrogen fuel cell vehicle has passed key tests, achieving a 15% reduction in hydrogen consumption compared to competitors, indicating industry-leading performance [5] - ByteDance and BYD have deepened their collaboration to accelerate lithium battery research through a joint laboratory focusing on fast charging, lifespan, and safety [6] - Baidu's autonomous driving service, "萝卜快跑," has expanded its testing area in Hong Kong to include Tung Chung, with over 15,000 kilometers of safe driving recorded [7] - Huawei's rotating chairman predicts that the proportion of 5G-connected vehicles in China's passenger car sales will rise to 95% by 2030, emphasizing the need for independent vehicle decision-making [8] - Guoxuan High-Tech has initiated road testing for its all-solid-state battery PACK system, marking a significant step in battery technology [10] - The scale of fuel cell vehicle promotion in China is expanding, with over 28,000 units expected by the end of 2024, highlighting the need for policy support and technological innovation [11] International News - Düsseldorf, Germany, has opened Europe's largest hydrogen refueling station, capable of distributing up to 5 tons of hydrogen daily [13] - Volkswagen's subsidiary MOIA has launched its first fully autonomous vehicle, ID. Buzz AD, which will be deployed in Europe and the US starting in 2026 [14][15] - BMW's iX3 prototype has achieved a charging power of over 400 kW, allowing for a range increase of 350 kilometers in just 10 minutes [16] - Cadence has expanded its collaboration with Samsung Foundry to enhance AI-driven design solutions for AI data centers and automotive applications [17] Commercial Vehicles - Henan Province has announced a subsidy policy for the scrapping and updating of old freight vehicles, with a maximum subsidy of 140,000 yuan [19] - Suzhou King Long's brand value has surpassed 100 billion yuan, ranking 129th in the "China's 500 Most Valuable Brands" list [20] - Shaanxi Automobile has delivered its first batch of 100 electric dump trucks, marking a significant step in the new energy commercial vehicle sector [21] - Yutong has launched its C series luxury buses in Sri Lanka, enhancing its presence in the local market [22]

Core Viewpoint - The article highlights the hidden truth within the automotive supply chain, where large parts manufacturers impose longer payment terms, creating significant pressure on small and medium-sized enterprises (SMEs) [4][7]. Group 1: Payment Terms and Their Impact - A recent lawsuit involving a mold company and a joint venture parts manufacturer illustrates the underlying issue of payment terms, where SMEs complete their work but face delayed payments from larger firms [2]. - The automotive industry has seen a positive response to commitments from automakers to a 60-day payment term, previously criticized for exploiting SMEs [3]. - However, large parts manufacturers, such as Huayu Automotive and Dongfeng Technology, have payment turnover days of 163 and 196 days respectively, indicating a trend of extended payment cycles that adversely affect SMEs [5][6]. Group 2: Industry Dynamics and Power Shifts - The payment turnover days are not equivalent to the contractual payment terms, as they reflect the actual payment cycles, which can serve as an indirect indicator of a company's payment practices and credit cycles [6]. - Some suppliers, while not directly affiliated with automakers, also exert pressure on SMEs, as seen with companies like CATL, which has a payment turnover day exceeding 258 days, indicating a trend of stringent payment practices [6]. - Large parts manufacturers leverage their negotiating power to impose even stricter payment terms on their suppliers, exacerbating the financial strain on SMEs [7]. Group 3: Need for Transparency and Fairness - To address the challenges posed by extended payment terms, there is a call for large enterprises to publicly disclose their payment policies, which is seen as a crucial first step towards restoring fairness in the industry [8]. - The article argues that while long payment terms may appear as a financial strategy, they should not undermine fair competition and the integrity of the industry credit ecosystem [9]. - The question is raised whether large parts manufacturers should also take a stance on the issue of extended payment terms, emphasizing the need for collective responsibility within the industry [10].

Core Viewpoint - The article discusses the ongoing issues in the automotive supply chain, particularly focusing on the extended payment terms imposed by large parts manufacturers on smaller suppliers, despite recent commitments from automakers to shorten their payment periods [3][4]. Group 1: Payment Terms and Industry Dynamics - A recent lawsuit highlights the contract disputes between a mold company and a joint venture parts manufacturer, revealing underlying issues related to payment terms and cash flow for small enterprises [3]. - Automakers have received praise for their commitment to a 60-day payment term, but the larger issue lies with major parts manufacturers who impose even longer payment terms on smaller suppliers [3][4]. - For instance, Huayu Automotive, a major parts supplier under SAIC, has an accounts payable turnover period of 163 days, while Dongfeng Technology has a turnover period exceeding 196 days [4]. Group 2: Impact on Smaller Suppliers - The accounts payable turnover days do not equate to the contractual payment terms, indicating that actual payment cycles can be significantly longer, affecting the cash flow of smaller suppliers [4]. - Larger parts manufacturers, such as CATL, have been able to maintain a favorable accounts receivable turnover period of around 60 days, while their own accounts payable turnover days exceed 258 days, further straining smaller suppliers [4][5]. - The article suggests that these large manufacturers are leveraging their negotiating power to impose harsher terms on smaller suppliers, exacerbating the financial strain within the supply chain [5]. Group 3: Call for Transparency and Fairness - The article advocates for greater transparency in payment policies from large manufacturers, similar to the commitments made by automakers, to foster a healthier competitive environment [5]. - It emphasizes that while extended payment terms may seem like a financial strategy, they should not undermine fair competition and the integrity of the supply chain [5]. - The article questions whether large parts manufacturers should also take responsibility and clarify their payment practices to ensure fairness across the industry [5].

东风电子科技股份有限公司 2024 年年度股东大会会议资料 2024 年 6 月 1 东风电子科技股份有限公司 2024 年年度股东大会会议议程 会议议程： 逐项审议以下议案： | 序号 | | | 议案名称 | | --- | --- | --- | --- | | 1 | 关于 | 2024 | 年年度报告及其摘要的议案 | | 2 | 关于 | 2024 | 年度董事会工作报告的议案 | | 3 | 关于 | 2024 | 年度监事会工作报告的议案 | | 4 | 关于 | 2024 | 年度财务决算报告及 2025 年度财务预算报告的议案 | | 5 | 关于 | 2024 | 年度利润分配预案的议案 | | 6 | 关于预计 | | 2025 年度日常关联交易的议案 | | 7 | | | 关于向东风汽车财务有限公司申请 2025 年度综合授信的议案 | | 8 | | | 关于使用自有资金进行现金管理的议案 | | 9 | | | 关于使用募集资金进行现金管理的议案 | | 10 | | | 关于公司固定资产处置的议案 | | 11 | | | 关于长期股权投资减值准备及应收账款坏账核销的议案 | ...

Group 1 - The 2025 International Automotive and Supply Chain Expo in Hong Kong focuses on creating a broader platform for the automotive industry, supply chain layout communication, and financial services, showcasing technological breakthroughs in the global automotive industry to promote high-quality sustainable development [2][5] - Hong Kong's Chief Executive, John Lee, emphasized the region's role in supporting the high-quality development of the automotive industry, leveraging its international capital market and professional services to assist domestic new energy vehicle companies in financing and overseas promotion [2] - The event is noted for having the highest participation of mainland automotive enterprises in an overseas auto show, with a larger scale and richer content compared to previous editions, attracting significant attention [2][5] Group 2 - The Hong Kong Chinese Manufacturers' Association President, Lu Jinrong, highlighted the trend of Chinese automotive and supply chain brands actively expanding into international markets, with the expo being held in Hong Kong to leverage the city's unique advantages [3] - The expo features seven core exhibition areas, including global automotive, supply chain, low-altitude economy, and innovation technology from both Hong Kong and mainland China, organized by various associations [5] - The event includes participation from 11 mainland vehicle manufacturers and nearly 40 mainland automotive supply chain and technology companies, marking the highest number of Chinese automotive enterprises at an international auto show [5]

Core Viewpoint - The event showcased the revitalization of the Hongqi brand through a blend of technology and culture, targeting younger consumers with innovative products and marketing strategies [2][10][15] Group 1: Event Highlights - The event featured multiple interactive areas, a trunk market displaying unique cultural products, and technology exhibition booths showcasing Hongqi's youthful vehicle lineup, including the pure electric Tian Gong 05/06 and plug-in hybrid HS3 PHEV/H5 PHEV [1][2] - A spectacular drone light show with 1,500 drones illuminated the night sky, creating captivating visuals and promoting the brand's youthful image [7][10] - The event included performances from various student groups, contributing to a vibrant atmosphere that resonated with the theme of youth and potential [5][10] Group 2: Product and Marketing Strategy - Hongqi is focusing on a young consumer base by offering a diverse product matrix priced between 150,000 to 250,000 yuan, including models that cater to fuel, hybrid, and electric markets [10][11] - The brand emphasizes a combination of traditional design elements and modern aesthetics, as seen in the Tian Gong series, which features advanced technology such as the industry-first mass-produced inertial navigation three-eye vision system [10] - Marketing efforts include collaborations with young influencers, such as signing the 00s table tennis world champion Sun Yingsha as a spokesperson, and engaging in nationwide promotional activities that resonate with youth culture [13][15]

Core Viewpoint - The restructuring plans of Dongfeng Motor Group and China Ordnance Equipment Group have reached a new turning point after nearly four months of developments, with Dongfeng Group deciding not to engage in asset and business restructuring at this time, while the restructuring of the automotive business of China Ordnance Equipment Group is proceeding as planned [1][3]. Group 1: Restructuring Developments - On June 5, multiple listed companies from the "Dongfeng system" and "Ordnance system" released announcements regarding their restructuring progress, indicating that Dongfeng Group will not be involved in the restructuring of related assets and businesses [1]. - The State-owned Assets Supervision and Administration Commission (SASAC) has approved the separation of the automotive business from China Ordnance Equipment Group, which will become an independent central enterprise [1][3]. - Following the separation, Changan Automobile will have its indirect controlling shareholder changed to the newly established central enterprise for the automotive business, although the actual controller remains unchanged [1]. Group 2: Market Reactions - As of June 5, shares of "Ordnance system" companies generally rose, with Huachuang Technology up 13.32%, and several others reaching their daily limit, while Dongfeng system stocks performed poorly, with Dongfeng Motor and Dongfeng Technology both dropping over 6% [2]. Group 3: Industry Context and Future Outlook - Analysts suggest that the change in Changan Automobile's indirect controlling shareholder to the new central enterprise will facilitate better resource integration and more effective overseas expansion [3]. - The restructuring is seen as a response to the pressures of transitioning to electric vehicles, with the establishment of new automotive central enterprises expected to enhance competitiveness in the new energy vehicle market [3][4]. - The automotive industry in China is undergoing significant changes, with a focus on increasing efficiency and high-quality development as core goals [3][7]. Group 4: Performance Metrics - Dongfeng Group's total vehicle sales for the first four months of the year were 526,700 units, a decrease of 20.8% year-on-year, while its high-end electric brand "Lantu" achieved sales of 36,053 units, up 77% [5]. - Changan Automobile reported sales of 895,800 units from January to April, with 256,100 units being new energy vehicles [6]. - The three major automotive central enterprises are projected to have a combined global market share of only 8.7% in 2024, significantly lower than leading international competitors [6].

Summary of the Autonomous Logistics Vehicle Industry Conference Call Industry Overview - The autonomous logistics vehicle industry is experiencing explosive growth, with an expected scale of 30,000 units by 2025, increasing to 100,000 units by 2026, and potentially reaching 600,000 units by 2030. The penetration rate could reach 30% in the short term, corresponding to a market space of approximately 600,000 vehicles, with long-term potential exceeding 1 million vehicles [2][4][19]. Key Insights and Arguments - **Profitability Model**: Companies primarily profit through hardware sales and Full Self-Driving (FSD) services. Initial hardware sales may incur losses, but the software service model is profitable. A breakeven point is reached at 5,000 units sold, with a profit of 40,000 to 50,000 yuan per vehicle at 50,000 units sold, resulting in a net profit margin close to 50% [2][5][22]. - **Cost Reduction**: The cost of logistics has significantly decreased, with the cost per delivery dropping to 0.08 yuan, a 60% reduction compared to traditional methods. The hardware cost gap with traditional logistics vehicles has narrowed to about 20,000 to 30,000 yuan, enhancing economic viability [2][17]. - **Technological Development**: The industry is moving towards lightweight mapping and even no-mapping solutions, which lower costs and deployment times but require higher data collection and algorithm demands. The deployment time for lightweight mapping is significantly shorter, taking only one to two days compared to two weeks to a month for high-definition mapping [2][6][16]. - **Policy Support**: There is increasing policy support, with over 200 cities in China accelerating the issuance of road usage permits, simplifying processes for industry development [2][13][14]. Competitive Landscape - **Barriers to Entry**: The competitive barriers in the autonomous logistics vehicle sector include access rights, differences in autonomous driving technology, and innovation in business models. Efficiently mobilizing resources to meet diverse demands is crucial [3][21]. - **Market Leaders**: Key players include the publicly listed company WeRide, Jinlong Automobile, and Zhongyou Technology. Other notable companies include intelligent hardware manufacturers and electric vehicle-related firms [8][23][24]. Market Demand and Growth Expectations - **Order Growth**: Major manufacturers are seeing significant increases in orders, with companies like 90 and New Stone achieving substantial sales targets. The market demand is strong and continues to grow [18][19]. - **Future Projections**: The industry is expected to grow significantly in the coming years, with projections of 30,000 units in 2025, 100,000 units in 2026, and 600,000 units by 2030. Chinese companies are growing rapidly, while overseas markets are expanding at a slower pace [19][20]. Application Scenarios - **Ideal Use Cases**: Short-distance transportation scenarios, such as urban cross-district or rural-urban routes, are more suitable for autonomous logistics development due to their standardization potential. The e-commerce and express delivery sectors are the most mature and automated, making them the first to adopt autonomous logistics solutions [11][12]. Conclusion - The autonomous logistics vehicle industry is at a pivotal moment, driven by technological advancements, significant cost reductions, and strong policy support. The competitive landscape is evolving, with established players and new entrants vying for market share. The future looks promising, with substantial growth expected in both domestic and international markets.