蔚蓝锂芯 2025 年第四次临时股东会 法律意见书 江苏世纪同仁律师事务所关于 江苏蔚蓝锂芯集团股份有限公司 致：江苏蔚蓝锂芯集团股份有限公司 根据《中华人民共和国公司法》《中华人民共和国证券法》和中国证券监督 管理委员会《上市公司股东会规则》等法律、法规和规范性文件以及《江苏蔚蓝 锂芯集团股份有限公司章程》（以下简称"《公司章程》"）的规定，江苏世纪 同仁律师事务所（以下简称"本所"）接受江苏蔚蓝锂芯集团股份有限公司（以 下简称"贵公司"）的委托，指派本所律师出席贵公司 2025 年第四次临时股东会， 并就本次股东会的召集、召开程序、出席会议人员资格、召集人资格、表决程序 以及表决结果的合法有效性等事项出具法律意见。 为出具本法律意见书，本所律师对本次股东会所涉及的有关事项进行了审查， 查阅了相关会议文件，并对有关问题进行了必要的核查和验证。 本所律师同意将本法律意见书随贵公司本次股东会决议一并公告，并依法对 本法律意见书承担相应的责任。 本所律师根据相关法律、法规和规范性文件的要求，按照律师行业公认的业 务标准、道德规范和勤勉尽责精神，出具法律意见如下： 一、关于本次股东会的召集、召开程序和召集人资格 事 ...

Meeting Attendance - A total of 1,423 shareholders and their representatives attended the meeting, representing 242,367,401 shares, which is 21.01% of the total voting shares [1] - Out of these, 5 shareholders attended the meeting in person, representing 223,502,408 shares, or 19.37% of the total voting shares [1] - 1,418 shareholders participated via online voting, representing 18,864,993 shares, or 1.64% of the total voting shares [1] Voting Results - The voting results showed that 241,382,001 shares were in favor, accounting for 99.59% of the valid votes cast [1] - There were 573,800 shares against the proposal, representing 0.24% of the valid votes, and 411,600 shares abstained, which is 0.17% [1] - For small investors, 17,964,393 shares voted in favor, which is 94.80% of the small shareholders' valid votes [2] Legal Opinion - The legal opinion provided by Jiangsu Century Tongren Law Firm confirmed that the meeting was convened and conducted in accordance with legal regulations and the company's articles of association [5] - The qualifications of the attendees and the conveners were deemed valid, and the voting procedures and results were confirmed as legal and effective [5]

锂电池板块走高，诺德股份涨停，铜冠铜箔、南都电源、蔚蓝锂芯、德福科技、珠海冠宇等纷纷走高。 ...

Core Viewpoint - The report from CITIC Securities expresses a strong positive outlook on the investment value of core battery assets in China, driven by short-term supply-demand improvements and long-term growth opportunities in commercial vehicles, AI data centers, and overseas markets [1] Group 1: Short-term Performance - In Q2 2025, battery prices stabilized due to continuous supply-demand improvements, with upstream raw material costs decreasing and operational rates increasing, leading to additional profit elasticity [1] - Companies like CATL and others have reported better-than-expected unit profitability for Q2 2025, attributed to high shipment growth and stable battery prices [1][2] - The average battery price remained stable in Q2 2025, with some models experiencing price increases, while lithium carbonate prices dropped from 74,000 CNY/ton at the end of March to 61,000 CNY/ton by the end of June [1] Group 2: Supply-Demand Dynamics - The core reason for stable battery prices is the improvement in supply-demand structure, with global lithium battery production expected to reach 986.5 GWh in H1 2025, a year-on-year increase of 48.3% [2] - Demand for power and energy storage batteries is driven by policies like vehicle trade-in incentives and changes in U.S. tariff policies, leading to significant growth in production [2] - On the supply side, capital expenditure has been concentrated among leading companies with strong cash flow and high operational rates, indicating a tightening supply environment [2] Group 3: Future Outlook - The commercial vehicle market is expected to see explosive growth, with heavy-duty battery installations projected to reach approximately 31.7 GWh in H1 2025, a year-on-year increase of 230% [3] - The demand for energy storage batteries in AI data centers is anticipated to grow significantly, with global shipments expected to reach 300 GWh by 2030, reflecting a CAGR of over 80% from 2024 to 2030 [3] - Chinese companies are set to ramp up overseas production capacity in H2 2025, which may help distribute fixed costs and improve profitability [3] Group 4: Valuation Insights - The closing price of CATL's H-shares was approximately 40% higher than its A-shares as of August 8, 2025, indicating a potential uplift in the valuation of Chinese battery assets within the global pricing framework [4] - The premium on CATL's H-shares reflects global investor confidence in the growth potential of core battery assets, driven by strong profitability and increasing market share [4]

上市企业：南京公用（000421）、协鑫能科（002015）、金智科技（002090）、东华能源（002221）、 蔚蓝锂芯（002245）、海陆重工（002255）、华昌化工（002274）、润邦股份（002483）、天顺风能 （002531）、新联电子（002546） 相关报告：智研咨询发布的《2025-2031年中国能源行业市场研究分析及投资前景评估报告》 2025年6月，江苏省发电507.8亿千瓦时，同比下滑3.7%。2025年上半年，江苏省发电1455.8亿千瓦时， 同比下滑5.7%。分品种看，2025年上半年，江苏省火力发电量2271.5亿千瓦时，占总发电量的77.8%， 同比下滑5.4%；江苏省水力发电量20.6亿千瓦时，占总发电量的0.7%，同比增长34.5%；江苏省核能发 电量252.2亿千瓦时，占总发电量的8.6%，同比下滑2.1%；江苏省风力发电量275.2亿千瓦时，占总发电 量的9.4%，同比下滑3.5%；江苏省太阳能发电量101.57亿千瓦时占总发电量的3.5%，同比增长15.1%。 附注 统计范围： 报告中的产量数据统计口径均为规模以上工业，其统计范围为年主营业务收入2000万元及 ...

Core Viewpoint - The stock of Weilan Lithium Chip has seen a significant increase, reflecting positive market sentiment and strong financial performance in the lithium battery sector [1] Company Overview - Weilan Lithium Chip is located in Zhangjiagang, Jiangsu Province, and specializes in lithium batteries, LED chips, and metal logistics distribution, with an annual revenue of nearly 5.3 billion yuan [1] - The company has 18 years of experience in the research and manufacturing of cylindrical power batteries and possesses advanced LED research and manufacturing capabilities [1] - Weilan Lithium Chip has established large metal material distribution centers in the Yangtze River Delta and the Pearl River Delta regions [1] Financial Performance - For the period from January to September 2024, Weilan Lithium Chip achieved a revenue of 4.838 billion yuan, representing a year-on-year growth of 30.92% [1] - The net profit attributable to shareholders for the same period was 282 million yuan, showing a substantial year-on-year increase of 173.21% [1] - As of September 30, the number of shareholders for Weilan Lithium Chip was 141,800, with an average of 7,668 circulating shares per person [1]

Core Viewpoint - The report highlights the rapid growth of global AIDC capital expenditure driven by high demand in the industry, particularly due to advancements in AI technology and the increasing investment in data centers by cloud service providers (CSPs) [2] Group 1: Industry Growth and Trends - Global data center installed capacity is expected to exceed 100 GW by 2025, with projected growth rates of 21% and 15% for the periods 2024-2030 under optimistic and neutral scenarios, respectively [2] - AIDC is evolving towards direct current (DC), high voltage, and high density, moving away from traditional power supply methods [2][3] - The market for external power supply is projected to reach 99.6 billion yuan by 2030, with a compound annual growth rate (CAGR) of approximately 50% from 2024 to 2030 [2] Group 2: Technological Advancements - AI server power supplies are adhering to OCP ORV3 standards, with power density increasing as GPU power rises, leading to higher value and profit margins [3] - The introduction of high-power supplies (5.5 kW and above) is expected to coincide with the next generation of technology, enhancing market dynamics [3] - New demands are emerging in the AIDC sector, with products like supercapacitors and battery backup units (BBUs) becoming essential for stabilizing power fluctuations from AI chips [3][4] Group 3: Investment Recommendations - The report recommends focusing on companies that are well-positioned in the evolving landscape, including those in power supply, distribution, and related technologies [4] - Key companies highlighted for investment include Megmeet, Zhongheng Electric, and Keda Data, among others, across various segments such as supercapacitors and BBU [4]

Investment Rating - The report suggests a positive investment outlook for the AIDC industry, driven by high growth in global capital expenditure and increasing demand for data centers [2][11][18]. Core Insights - The AIDC industry is experiencing a significant transformation towards direct current (DC), high voltage, and high density, with a projected market size of 99.6 billion yuan by 2030, reflecting a CAGR of approximately 50% from 2024 to 2030 [2][68]. - The global AI market is entering a high growth phase, with the market size expected to reach approximately $274.5 billion by 2032, growing at a CAGR of 36% [11]. - Major cloud service providers (CSPs) are significantly increasing their capital expenditures for data center infrastructure, with notable investments from companies like Alibaba and Tencent [17][22]. - The evolution of power supply systems in data centers is shifting from traditional UPS to more efficient HVDC systems, which are expected to dominate the market in the coming years [34][49]. Summary by Sections AIDC Capital Expenditure Growth - Global AIDC capital expenditure is experiencing high growth, with CSPs increasing investments in data centers, leading to a projected total installed capacity of over 100 GW by 2025 [2][18]. - The capital expenditure from domestic CSPs is expected to see explosive growth, with Alibaba's capital expenditure forecasted to increase by 239% in 2024 [17][22]. Power Supply System Evolution - The AIDC is rapidly evolving towards direct current and high voltage systems, with a significant focus on improving power supply efficiency and reducing system costs [34][49]. - The report highlights the transition from traditional UPS systems to HVDC systems, which are expected to enhance energy efficiency and reduce operational costs [49][52]. Market Opportunities - The report identifies new market opportunities in auxiliary power sources such as BBU and supercapacitors, which are becoming standard in AI server configurations [2][4]. - The global server power supply market is projected to reach 147 billion yuan by 2030, with a CAGR of approximately 42% from 2024 to 2030 [2][68]. Competitive Landscape - The competitive landscape for server power supplies is characterized by high barriers to entry, with established players like Delta Electronics and Lite-On Technology dominating the market [81]. - The report emphasizes the importance of customer relationships and technological capabilities as key competitive advantages in the server power supply sector [84][85].

去年至今，人形机器人成为投资领域出现的 "高频词"。 作为未来产业的前沿领域，人形机器人正成为全球科技和产业竞争的新赛道。据高盛预测，到 2035 年全球市场规模有望突破千亿美元。特 斯拉 CEO 埃隆·马斯克展望，长期来看人形机器人需求量可能达 100 亿台。 随着人形机器人产业加速落地，其对能源系统的挑战正日益凸显。 锂电池作为核心动力源，面临更高能量密度、更快充电速度、更高安全性 和更优温域适应性的多重考验， 这也促使电池企业从 "汽车"快速走向"人形"的新战场。 据亿纬锂能消息， 近日，维他动力与亿纬锂能正式达成机器人业务深度合作。 双方将通力协作，基于用户需求和机器人动力电池技术发展趋势，推进具身智能产品化量产的进一步发展。 01 牵手维他动力 亿纬锂能开发人形机器人专用电池 资料显示，今年 5 月， Vbot 维他动力已完成天使轮融资，由知名投资机构达晨创投领投，初心资本、联想创投、渶策资本跟投，高鹄资本 担任独家财务顾问。 成立半年，维他动力融资规模达 3 亿元，完成首款智能伴随机器人的投产及规模化的前置准备，将在 9 月启动制造工厂， 10 月开启量产级 早鸟内测，今年底完成产品上市，并开启海 ...

金融界消息 截至2025年8月11日收盘，蔚蓝锂芯（002245）报收于16.73元，上涨5.29%，换手率 11.19%，成交量121.28万手，成交金额19.99亿元。 资金流向方面，今日主力资金净流入1.52亿元，占比成交额7.6%。其中，超大单净流入8825.98万元、 占成交额4.41%，大单净流入6372.37万元、占成交额3.19%，中单净流出流出7216.70万元、占成交额 3.61%，小单净流出7981.66万元、占成交额3.99%。 蔚蓝锂芯最新一期业绩显示，截至2025一季报，公司营业总收入17.28亿元、同比增长20.90%，归属净 利润1.42亿元，同比增长100.56%，扣非净利润1.48亿元，同比增长204.48%，流动比率1.622、速动比率 1.170、资产负债率35.24%。 天眼查商业履历信息显示，江苏蔚蓝锂芯集团股份有限公司，成立于2002年，位于苏州市，是一家以从 事金属制品业为主的企业。企业注册资本115204.6537万人民币，实缴资本21739.5728万人民币。公司法 定代表人为CHEN KAI。 通过天眼查大数据分析，江苏蔚蓝锂芯集团股份有限公司共对外投资了 ...