金安国纪向特定对象发行 A 股股票 募集说明书 证券简称：金安国纪 证券代码：002636 金安国纪集团股份有限公司 Goldenmax International Group Ltd. （上海市松江工业区宝胜路 33 号） 2025年度向特定对象发行A股股票 募集说明书 （申报稿） 保荐机构（主承销商） （中国（上海）自由贸易试验区浦明路 8 号） 二〇二六年二月 1-1-1 金安国纪向特定对象发行 A 股股票 募集说明书 声 明 本公司及全体董事、董事会审计委员会成员、高级管理人员承诺募集说明书 及其他信息披露资料不存在任何虚假记载、误导性陈述或重大遗漏，并对其真实 性、准确性及完整性承担相应的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人保证募集说明书中财务 会计资料真实、完整。 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对申请 文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对发行人的 盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任何与之相反 的声明均属虚假不实陈述。 根据《证券法》的规定，证券依法发行后，发行人经营与收益的变化，由发 行人自行负 ...

国联民生证券承销保荐有限公司 关于金安国纪集团股份有限公司 2025 年度向特定对象发行 A 股股票 之 发 行 保 荐 书 保荐人（主承销商） （中国（上海）自由贸易试验区浦明路 8 号） 二〇二六年二月 金安国纪集团股份有限公司 发行保荐书 声 明 本保荐人及保荐代表人根据《中华人民共和国公司法》（下称"《公司法》"）、 《中华人民共和国证券法》（下称"《证券法》"）、《上市公司证券发行注册 管理办法》（下称"《注册管理办法》"）、《证券发行上市保荐业务管理办法》 等有关法律、行政法规和中国证券监督管理委员会（下称"中国证监会"）及深 圳证券交易所的有关规定，诚实守信，勤勉尽责，严格按照依法制订的业务规则、 行业执业规范和道德准则出具本发行保荐书，并保证所出具文件的真实性、准确 性和完整性。 本发行保荐书中如无特殊说明，相关用语具有与《国联民生证券承销保荐有 限公司关于金安国纪集团股份有限公司 2025 年度向特定对象发行 A 股股票之尽 职调查报告》中相同的含义。 3-1-1 | 第一节 | 本次证券发行基本情况 3 | | --- | --- | | | 一、保荐人、保荐代表人、项目组成员介绍 3 | ...

金安国纪集团股份有限公司 审计报告 上会师报字(2025)第 7474 号 上会会计师事务所（特殊普通合伙） 中国 上海 审计报告 上会师报字(2025)第 7474 号 金安国纪集团股份有限公司全体股东： 一、审计意见 我们审计了金安国纪集团股份有限公司（以下简称"金安国纪"）财务报表， 包括 2024 年 12 月 31 日的合并及母公司资产负债表，2024 年度的合并及母公司利润 表、合并及母公司现金流量表、合并及母公司所有者权益变动表以及相关财务报表 附注。 我们认为，后附的财务报表在所有重大方面按照企业会计准则的规定编制，公 允反映了金安国纪 2024 年 12 月 31 日的合并及母公司财务状况以及 2024 年度的合并 及母公司经营成果和现金流量。 二、形成审计意见的基础 我们按照中国注册会计师审计准则的规定执行了审计工作。审计报告的"注册 会计师对财务报表审计的责任"部分进一步阐述了我们在这些准则下的责任。按照 中国注册会计师职业道德守则，我们独立于金安国纪，并履行了职业道德方面的其 他责任。我们相信，我们获取的审计证据是充分、适当的，为发表审计意见提供了 基础。 三、关键审计事项 关键审计事 ...

2025 年度向特定对象发行A股股票的 法律意见 京天股字（2026）第042号 致：金安国纪集团股份有限公司 根据北京市天元律师事务所（下称"本所"）与金安国纪集团股份有限公司 （下称"发行人"或"公司"）签订的委托协议，本所担任公司 2025 年度向特 定对象发行 A 股股票（下称"本次发行"）的专项中国法律顾问并出具法律意见。 本所及经办律师依据《中华人民共和国证券法》《中华人民共和国公司法》 《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、法规和中国证券监督管理委员会的有关规定及本法律意见出 具日以前已经发生或者存在的事实，按照律师行业公认的业务标准、道德规范和 勤勉尽责的精神，出具本法律意见。 北京市天元律师事务所 关于金安国纪集团股份有限公司 2025 年度向特定对象发行 A 股股票的 法律意见 北京市天元律师事务所 北京市西城区金融大街 35 号国际企业大厦 A 座 509 单元 邮编：100033 北京市天元律师事务所 关于金安国纪集团股份有限公司 4-1-1 释 义 本法律意见中提到的下列简称，除非根据上下文另有解释外，其含义如下： | 发行人、公司 ...

金安国纪集团股份有限公司 关于 2025 年度向特定对象发行 A 股股票申请获得深圳 证券交易所受理的公告 公司本次向特定对象发行A股股票事项尚需深圳证券交易所审核通过，并获 得中国证券监督管理委员会同意注册后方可实施，最终能否通过深圳证券交易所 审核并获得中国证券监督管理委员会同意注册的决定及时间仍存在不确定性。公 司将根据该事项进展情况及时履行信息披露义务，敬请广大投资者谨慎决策，注 意投资风险。 特此公告。 金安国纪集团股份有限公司 金安国纪集团股份有限公司 关于 2025 年度向特定对象发行 A 股股票申请获得深圳证券 交易所受理的公告 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。 金安国纪集团股份有限公司（以下简称"公司"）于2026年2月12日收到深 圳证券交易所出具的《关于受理金安国纪集团股份有限公司向特定对象发行股票 申请文件的通知》(深证上审〔2026〕31号)，深圳证券交易所对公司报送的向特 定对象发行股票的申请文件进行了核对，认为申请文件齐备，决定予以受理。 证券代码：002636 证券简称：金安国纪 公告编号：2026-011 1 董 ...

国联民生证券承销保荐有限公司 关于金安国纪集团股份有限公司 2025 年度向特定对象发行 A 股股票 之 上 市 保 荐 书 保荐人（主承销商） 二〇二六年二月 金安国纪集团股份有限公司 上市保荐书 声 明 国联民生证券承销保荐有限公司（以下简称"保荐人""国联民生承销保 荐"）接受金安国纪集团股份有限公司（以下简称"金安国纪""公司"或"发 行人"）的委托，担任金安国纪本次向特定对象发行股票（以下简称"本项目"） 的保荐人。 本保荐人及保荐代表人已根据《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 证券发行注册管理办法》（以下简称"《注册管理办法》"）、《证券发行上市保 荐业务管理办法》等法律法规和中国证券监督管理委员会（以下简称"中国证监 会"）及深圳证券交易所的有关规定，诚实守信，勤勉尽责，严格按照依法制定 的业务规则和行业自律规范出具上市保荐书，并保证所出具文件真实、准确、完 整。 本上市保荐书中如无特殊说明，相关用语具有与《国联民生证券承销保荐有 限公司关于金安国纪集团股份有限公司 2025 年度向特定对象发行 A 股股票之尽 职 ...

Group 1 - Unisplendour plans to raise no more than 5.57 billion yuan through a private placement to acquire a 6.98% stake in H3C, fund R&D equipment purchases, and repay bank loans [1] - The acquisition is expected to enhance the net profit attributable to the parent company's shareholders, thereby strengthening the company's operational capabilities [1] - The company has decided to terminate plans for issuing H-shares and listing on the Hong Kong Stock Exchange [1] Group 2 - Kaiying Network's subsidiary signed a settlement agreement with Legend IP, which is expected to positively impact the current period's profit by approximately 200 million yuan [1] - The agreement includes the termination of legal actions and payment of settlement fees, improving asset liquidity and resolving long-term litigation uncertainties [1] Group 3 - Zhongwei Semiconductor plans to establish an IPM production line project in Ziyang, Sichuan, using 121 million yuan of leftover IPO funds for working capital and 100 million yuan for the new project [1] - The company will set up a wholly-owned subsidiary in Sichuan to implement the IPM production line project [1] Group 4 - New锐股份 intends to acquire 70% of PCB tool company HuiLian Electronics for no more than 700 million yuan to gain control and address competition issues [2] - HuiLian Electronics is recognized as a national-level specialized "little giant" in the PCB tool sector, indicating strong market competitiveness [2] Group 5 - Jinhaitong plans to invest no more than 400 million yuan in the Shanghai Lanbo Semiconductor Equipment Manufacturing Center project, which will include a production and R&D center of up to 55,000 square meters [3] - The project aims to establish a comprehensive production operation center for semiconductor equipment [3] Group 6 - Lanshi Heavy Industry's deputy general manager Wang Bingzheng is under investigation for suspected violations of discipline and law, but the company's operations remain unaffected [4] - The company has made arrangements for the responsibilities related to Wang's position [4] Group 7 - Top Group expects a net profit decline of 3% to 13% in 2025, with projected revenues between 28.75 billion and 30.35 billion yuan, reflecting an increase of 8.08% to 14.10% year-on-year [5] - The profit decline is attributed to raw material price fluctuations and intensified market competition affecting gross margins [5][6] Group 8 - Tianji shares are under investigation by the China Securities Regulatory Commission for suspected information disclosure violations, but normal operations are ongoing [7] Group 9 - Pingzhi Information plans to raise no more than 1 billion yuan through a private placement for the construction of a domestic intelligent computing center and to supplement working capital [8] Group 10 - Dongfang Guoxin's Inner Mongolia Intelligent Computing Center project has been partially completed and delivered, but its revenue contribution is currently small [9] - Future revenue will depend on the project's delivery progress and client onboarding pace, indicating some uncertainty [9]

Group 1 - International Composite Materials (301526) is a core supplier of electronic-grade glass fiber and products in China, focusing on high-performance glass fiber material research and production, with a full industry chain layout advantage in electronic cloth [1][21] - The company’s main business includes electronic-grade glass fiber yarn, electronic cloth, and composite material products, widely used in copper-clad laminates (CCL) and printed circuit board (PCB) manufacturing, featuring electrical insulation and fire resistance [1][21] - The company is focusing on high-end products such as low-dielectric electronic cloth, suitable for high-speed PCB scenarios like AI servers and data centers, with production capacity and technical strength among the industry leaders [1][21] Group 2 - Honghe Technology (603256) is a leading enterprise in the global mid-to-high-end electronic-grade glass cloth segment, breaking international monopolies in ultra-thin and extremely thin electronic cloth [2][22] - The company’s main business focuses on the research, production, and sales of electronic-grade glass fiber yarns and fabrics, with applications covering various electronic devices including mobile phones, computers, and AI servers [2][22] - As a core supplier to global top copper-clad board manufacturers, the company has a significant competitive advantage in high-end PCB manufacturing, especially in AI computing-related high-speed PCB fields [2][22] Group 3 - China National Materials (002080) is a comprehensive leader in the new materials sector, leveraging state-owned enterprise resources to maintain industry leadership in glass fiber and wind power blades [3][23] - The company’s main business includes glass fiber and products, wind power blades, and lithium battery separators, with glass fiber being a core segment [3][23] - The company’s subsidiary, Taishan Glass Fiber, developed the first generation of low-dielectric fine yarn and electronic cloth, which won a global leading ICT manufacturer’s "Technology Breakthrough Award" [3][23] Group 4 - China Jushi (600176) is the absolute leader in the global glass fiber industry, with production capacity and technical strength at the forefront globally [4][24] - The company has built a full industry chain advantage from glass fiber yarn to electronic cloth, with products widely used in construction, electronics, and automotive sectors [4][24] - The company’s electronic cloth production capacity ranks among the top globally, with significant cost advantages in self-developed low-dielectric glass fiber (TLD-glass) [4][24] Group 5 - Jinan Guojin (002636) is a key player in the copper-clad board industry, with a complete electronic materials industry chain layout [5][25] - The company focuses on the research and production of copper-clad boards and related materials, maintaining a stable market share in East China [5][25] - The company’s electronic-grade glass fiber cloth is a core raw material for copper-clad boards, enabling effective cost reduction through in-house production [5][25] Group 6 - Hongchang Electronics (603002) is an important enterprise in the domestic electronic-grade epoxy resin and copper-clad board sector, covering core upstream and downstream segments of electronic cloth [6][26] - The company has established long-term partnerships with major domestic PCB manufacturers, focusing on the production and sales of electronic-grade epoxy resin, copper-clad boards, and semi-cured sheets [6][26] - The company benefits indirectly from the development of the electronic cloth industry through its copper-clad board business [6][26] Group 7 - Filihua (300395) is a leading enterprise in the global quartz glass materials sector, being the only company in China to achieve mass production of high-end quartz electronic cloth (Q cloth) [7][27] - The company’s main business focuses on the research, production, and sales of quartz glass and products, with applications in high-end fields such as semiconductors and optical communications [7][27] - The company’s third-generation quartz cloth has a dielectric constant as low as 2.3, making it a core enhancement material for M9 copper-clad boards [7][27] Group 8 - Changhai Co., Ltd. (300196) is an important enterprise in the domestic glass fiber and composite materials industry, focusing on high-end electronic cloth business through its subsidiaries [8][28] - The company’s main business includes glass fiber yarn, glass fiber products, and composite materials, with a stable production capacity layout in East China [8][28] - The company’s subsidiary, Guangyuan New Materials, focuses on producing low-dielectric electronic cloth and electronic yarn, entering the high-end PCB materials market [8][28] Group 9 - Jiuding New Materials (002201) is one of the leading enterprises in the domestic electronic cloth industry, with deep accumulation in glass fiber and composite materials [9][30] - The company’s main business includes glass fiber products, composite materials, and wind power blades, with electronic cloth being a core segment [9][30] - The company is continuously advancing the research and development of special glass fibers and electronic cloth, with significant revenue growth expected in the second quarter of 2025 [9][30] Group 10 - Shandong Glass Fiber (605006) is an important enterprise in the domestic glass fiber industry, with electronic cloth being a key focus area [10][31] - The company leverages the glass fiber industry cluster advantage in Shandong, steadily expanding its production capacity [10][31] - The company is focusing on mid-to-high-end electronic cloth products, adapting to the upgrading needs of the PCB industry [10][31]

金安国纪集团股份有限公司 关于组建覆铜板集团的进展公告 证券代码：002636 证券简称：金安国纪 公告编号：2026-010 金安国纪集团股份有限公司 关于组建覆铜板集团的进展公告 名称：金安国纪科技集团有限公司； 类型：有限责任公司（外商投资企业法人独资）； 住所：上海市松江区九亭镇盛龙路 951 号 9 幢 519 室； 法定代表人：韩涛； 注册资本：人民币 61,600 万元整； 经营范围：一般项目：技术服务、技术开发、技术咨询、技术交流、技术转 让、技术推广；电子专用材料研发；新材料技术研发；电子专用材料制造；电子 专用材料销售；玻璃纤维及制品销售；电子元器件批发；电子元器件零售；非居 住房地产租赁；企业管理咨询；信息咨询服务（不含许可类信息咨询服务）；货 物进出口；技术进出口。（除依法须经批准的项目外，凭营业执照依法自主开展 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。 一、概述 金安国纪集团股份有限公司（以下简称"公司"）于 2025 年 10 月 10 日召 开第六届董事会第十一次会议审议通过了《关于组建覆铜板集团的议案》，同意 公司组建覆铜 ...

Core Viewpoint - The electronic fabric industry is experiencing a price surge due to supply-demand imbalances, with significant price increases reported across various products in the supply chain [2][5]. Group 1: Price Trends and Market Dynamics - The price of electronic fabric has seen a notable increase, with prices rising from 4.15 yuan/meter at the end of September 2025 to 4.75 yuan/meter currently, reflecting a series of price hikes in October, December, and January 2026, each ranging from 0.15 to 0.25 yuan/meter [2][5]. - Major companies in the electronic fabric sector, such as Honghe Technology and International Composites, have reported significant stock price increases, with several reaching historical highs [3][4]. Group 2: Company Performance and Projections - Honghe Technology expects a net profit of 193 million to 226 million yuan for the fiscal year 2025, representing a year-on-year increase of 745% to 889% [4]. - International Composites anticipates a turnaround with a projected net profit of 260 million to 350 million yuan for 2025, indicating a return to profitability [4]. Group 3: Demand Drivers and Competitive Landscape - The rapid growth in AI demand is driving an increase in the market demand for electronic-grade glass fiber fabric, leading to both production and sales growth [5]. - The supply of LowCTE electronic fabric is constrained, with major supplier Nitto Denko holding over 90% of the global market share, and new production capacity not expected until 2027, which will only increase supply by 20% [5][6]. Group 4: Future Outlook - Analysts predict that the current price increase in electronic fabric will continue, with expectations of a new price increase cycle starting in 2026 due to ongoing supply constraints and recovering demand [6]. - The high-end electronic fabric market, particularly for LowDK and LCTE products, is expected to remain tight, further driving price increases and benefiting domestic manufacturers [6].