| 北京金诚同达律师事务所 | | | --- | --- | | 关于 | | | 方正科技集团股份有限公司 | | | 法律意见书 | | | 金证法意[2025]字 | 0820 第 0772 号 | | 北京市建国门外大街1号国贸大厦A座十层 | 100004 | | 电话：010-5706 8585 | 传真：010-8515 0267 | | 金诚同达律师事务 | | | 所 | | | 法律意见书 | | | | 目 录 | | 金诚同达律师事务所 | 法律意见书 | | 释 | 义 | | 在本法律意见书中，除非文中另有说明，下列词语具有下述涵义： | | | | 方正科技集团股份有限公司，曾用名"上海方正延中科技集 | | 发行人、公司、方正 | | | 指 | 团股份有限公司""上海延中实业股份有限公司" | | | "上海延中 | | 科技 | | | 实业有限公司" | | | 本次发行股票、本次 | | | 方正科技集团股份有限公司 | 2025 年度向特定对象发行 A 股 | | 发行、本次向特定对 指 | | | 股票的行为 | | | 象发行股票 | | | 《方正科技集团股份 ...

Core Viewpoint - Founder Technology Group Co., Ltd. is planning to issue shares to specific investors, aiming to raise funds for business expansion and enhance its competitive position in the PCB industry [1][2][3] Company Overview - Founder Technology Group Co., Ltd. was established on December 10, 1984, with a registered capital of 4,170.293287 million yuan [1][2] - The company specializes in the design, research and development, manufacturing, and sales of printed circuit board (PCB) products, including HDI, multilayer boards, and customized PCBs [2][4] - The company is listed on the Shanghai Stock Exchange under the stock code 600601, with its shares trading since December 19, 1990 [1][2] Business Operations - The company's PCB products are widely used in various sectors, including communication equipment, consumer electronics, automotive electronics, and medical devices [2][4] - The company has established long-term technical cooperation relationships with domestic and international strategic customers, enhancing its competitive edge in high-end PCB markets [2][4] Financial Performance - As of March 31, 2025, the company's total assets amounted to 746,705.04 million yuan, with total liabilities of 327,586.42 million yuan, resulting in net assets of 419,118.62 million yuan [2][3] - The company's revenue for the first quarter of 2025 was 95,167.54 million yuan, with a net profit of 7,847.72 million yuan [2][3] - The comprehensive gross profit margin for the company has shown an upward trend, reaching 21.91% in the latest reporting period [4] Market Position - The company ranks 29th in the overall PCB industry and 16th among domestic PCB companies according to the CPCA's 2024 revenue report [2][4] - The PCB industry is experiencing growth, driven by increasing demand in electronic information sectors, although it faces challenges from intense competition and market fluctuations [4][5] Fundraising and Investment Plans - The company plans to raise up to 198,000.00 million yuan through this issuance, with the funds allocated for projects aimed at expanding its business capabilities [1][17] - The issuance will involve specific investors, including Huanxin Fangke, which will subscribe for up to 23.50% of the total shares issued [1][15] Risks and Challenges - The company faces risks related to market competition, raw material price fluctuations, and potential changes in macroeconomic conditions that could impact its financial performance [4][5][6] - The company has a significant amount of accounts receivable, which could lead to increased bad debt losses if the financial conditions of its major customers deteriorate [5][6]

Group 1: Asset-Backed Securities (ABS) Market - In July 2025, the Asset-Backed Securities (ABS) market saw 153 new registrations with a total scale of 1440.49 billion yuan [1] - The top three ABS underlying assets by registration scale were financing lease receivables (313.66 billion yuan), accounts receivable (309.34 billion yuan), and small loan receivables (247.95 billion yuan) [1] - Six ABS registrations were related to infrastructure public REITs, amounting to 147.33 billion yuan [1] Group 2: Digital Printing Market - In the first half of 2025, China's digital industrial printer market generated revenue of 39.4 billion yuan, marking a year-on-year growth of 10.7% [2] - The large-format digital printing machine market experienced a decline of 2.8%, while the industrial digital textile printing machine market surged by 76.6% [2] - The digital packaging and labeling printing machine market saw a year-on-year increase of 9.3% [2] Group 3: Digital Publishing Industry - The digital publishing industry in China reached a record high revenue of 17,485.36 billion yuan in 2024, reflecting an 8.07% increase from the previous year [2] - The digitalization of books and periodicals showed steady growth, with significant revenue increases in online gaming, online education, and online animation sectors [2] Group 4: Insurance Sector - China Life Insurance reported a net profit of 40.931 billion yuan for the first half of 2025, representing a year-on-year growth of 6.9% [3] - The company's total revenue for the same period was 239.235 billion yuan, up by 2.1% year-on-year [3] - A cash dividend of 0.238 yuan per share (including tax) is proposed for all shareholders [3] Group 5: E-commerce and Food Delivery - Meituan's second-quarter revenue reached 91.84 billion yuan, showing an 11.7% year-on-year increase [4] - The adjusted net profit for the quarter was 1.49 billion yuan, down 89% year-on-year [4] - The core local business segment's revenue grew by 7.7% to 65.3 billion yuan, but operating profit fell significantly due to irrational competition [4] Group 6: Real Estate Investment Trusts (REITs) - JD Group plans to establish a REIT in Singapore with an asset value exceeding 1 billion USD, expected to be listed on the Singapore Exchange by next year [4] Group 7: Food Industry - Youyou Foods reported a net profit of 108 million yuan for the first half of 2025, a year-on-year increase of 42.47% [5] - The company's revenue for the same period was 771 million yuan, up by 45.59% [5] - A cash dividend of 2.3 yuan per 10 shares (including tax) is proposed for shareholders [5] Group 8: Technology Sector - Huasen Technology achieved a net profit of 1.889 billion yuan in the first half of 2025, reflecting a 46.3% year-on-year increase [6] - The company's revenue surged by 113.06% to 83.939 billion yuan [6] - Puxin Technology reported a net profit of 1.055 billion yuan, up 23.03% year-on-year [7] Group 9: Market Overview - The Shanghai Composite Index fell by 1.76% amid a market downturn, with over 4,700 stocks declining [8] - The total trading volume for the day reached 3.17 trillion yuan, an increase of 486.5 billion yuan from the previous trading day [8] - Key sectors showing strength included computing power and chip stocks, while real estate and consumer goods sectors faced declines [8]

Market Overview - The A-share market experienced a significant decline in the afternoon, with the Shanghai Composite Index dropping over 1.5% and the Shenzhen Component Index falling over 1% [1] - By the end of the trading day, the Shanghai Composite Index closed down 1.76% at 3800.35 points, the Shenzhen Component Index down 1.43% at 12295.07 points, and the ChiNext Index down 0.69% at 2723.20 points [1] - The total trading volume for the Shanghai and Shenzhen markets reached 3.17 trillion, an increase of 486.5 billion compared to the previous trading day [1] Sector Performance - Market focus was on computing power and chip sectors, with a majority of stocks declining; over 4700 stocks fell [1] - CPO and other computing hardware stocks remained strong, with companies like New Yisheng hitting historical highs [1] - Chip stocks experienced a pullback after initial gains, with Cambrian Technology's stock price briefly surpassing Kweichow Moutai [1] - Rare earth permanent magnet concept stocks were active, with Beikong Technology hitting the daily limit [1] - Real estate stocks underwent adjustments, with Shen Shen Fang A hitting the daily limit down [1] Top and Bottom Performing Sectors - The top-performing sectors included CPO, rare earth, and semiconductors [1] - The sectors with the largest declines included real estate, liquor, beauty care, and innovative pharmaceuticals [1]

市场全天冲高回落，三大指数午后跳水。芯片股逆势拉升，寒武纪盘中涨超10%，股价一度超越贵州茅台。CPO等算力硬件股表现活跃，东田微、剑桥科技 等涨停。下跌方面，创新药概念股走低，立方制药跌停，悦康药业、广生堂跌超10%；房地产板块调整，深深房A跌停。个股呈现普跌态势，沪深京三市超 4700股飘绿，今日成交再次突破3万亿。 二、当日热点 1.稀土磁材 稀土磁材板块今日继续大涨，北矿矿业涨停、大地熊大涨10%，北方稀土一度涨停。 稀土龙头北方稀土26日发布公告称，公司上半年实现归属于上市公司股东的净利润约9.31亿元，同比增长1951.52%；实现归属于上市公司股东的扣除非经常 性损益的净利润约8.97亿元，同比增长5644.93%。 | 股票名称 | 最新价 = | 涨跌幅 ⇒ | 涨停时间 ◆ | 换手率 = | 流通市值 ⇒ | | | --- | --- | --- | --- | --- | --- | --- | | 北矿科技 600980.SS | 28.07 | +9.99% | 10:23:40 | 15.27% | 52.71亿 | 世界最 | | 大地熊 | 40.25 | +10.36% ...

【收评：沪指冲高回落跌1.76% 全市场超4700只个股下跌】智通财经8月27日电，市场午后跳水回落， 沪指、深成指双双跌超1%。沪深两市全天成交额3.17万亿，较上个交易日放量4865亿。盘面上，市场 热点集中在算力和芯片方向，个股跌多涨少，全市场超4700只个股下跌。从板块来看，CPO等算力硬件 股维持强势，新易盛等多股再创历史新高。芯片股一度冲高，瑞芯微涨停。稀土永磁概念股表现活跃， 北矿科技涨停。下跌方面，地产股展开调整，深深房A跌停。板块方面，CPO、稀土、半导体等板块涨 幅居前，房地产、白酒、美容护理、创新药等板块跌幅居前。截至收盘，沪指跌1.76%，深成指涨 1.43%，创业板指跌0.69%。 转自：智通财经 ...

2025 年 8 月 27 日 股指期货将偏强震荡 黄金、焦煤、天然橡胶期货将偏强震 荡 原油期货将震荡偏弱 豆粕、豆油期货将偏弱震荡 陶金峰 期货投资咨询从业资格号：Z0000372 邮箱：taojinfeng@gtht.com 【正文】 【声明】 本报告的观点和信息仅供风险承受能力合适的投资者参考。本报告难以设置访问权限，若给您造成不 便，敬请谅解。若您并非风险承受能力合适的投资者，请勿阅读、订阅或接收任何相关信息。本报告不构 成具体业务或产品的推介，亦不应被视为相应金融衍生品的投资建议。请您根据自身的风险承受能力自行 作出投资决定并自主承担投资风险，不应凭借本内容进行具体操作。 【期货行情前瞻要点】 通过宏观基本面分析和黄金分割线、水平线、日均线等技术面分析，预期今日期货主力合约行情走势大概率如 下： 股指期货将偏强震荡：IF2509 阻力位 4490 和 4530 点，支撑位 4449 和 4425 点；IH2509 阻力位 2999 和 3030 点，支撑位 2970 和 2959 点；IC2509 阻力位 7000 和 7100 点，支撑位 6916 和 6872 点；IM2509 阻力位 755 ...

8月27日，AI产业链再度爆发，盘面上光芯片、光模块CPO、半导体等算力概念领涨市场，截至13：17，AI算力含量近50%的创业板人工智能指数 涨超5%，截至13：18，同类费率最低的创业板人工智能ETF华夏(159381)涨5.69%，盘中价格再创新高！截至发文，该ETF成交额超2亿元，并且 获得资金实时净申购超2000万份。 消息面上，近日国内AI算力芯片龙头寒武纪、光模块龙头中际旭创（300308）发布半年报，利润同比大增，验证AI算力高景气。报告期内，中际 旭创公司实现营业收入147.89亿元，同比增长36.95%；归属于上市公司股东的净利润39.95亿元，同比增长69.4%；寒武纪方面，营业总收入28.81 亿元，同比去年增长4347.82%，归母净利润为10.38亿元，同比去年增长295.82%，基本EPS为2.50元，平均ROE为17.05%。 有分析认为，为了满足AI应用兴起带来的推理和训练需求，海外云服务厂商持续加大AI基础设施建设，整体资本开支呈现快速增长的趋势。国内 互联网厂商对AI基础设施的资本开支同样在大幅增长。同时，国内政策层面对算力产业链不断加码，也助推数字经济蓬勃发展。 创业板 ...

消息面上，国务院近期印发的《"人工智能+"行动方案》提出，要加快构建智能网络和算力基础设施， 推动人工智能与实体经济深度融合。这一政策导向对通信行业具有重大意义，因其为AI算力传输和智 能终端应用提供了不可或缺的底层支撑。 受此影响，今日人工智能相关板块表现亮眼。截至2025年8月27日 13:33，上证科创板人工智能指数 (950180)强势上涨7.06%，成分股乐鑫科技上涨20.00%，云天励飞上涨17.65%，晶晨股份上涨10.73%， 复旦微电，恒玄科技等个股跟涨。 ETF方面，科创人工智能ETF鹏华（589090）今日重磅上市！上市首日盘中便涨超6%，截至目前，该基 金上涨5.89%。流动性方面，科创人工智能ETF鹏华盘中换手52.51%，成交4.56亿元，市场交投活跃。 值得一提的是，科创人工智能ETF鹏华（589090）当前折价率超1%，投资性价比凸显。 上证科创板人工智能指数从科创板市场中选取30只市值较大的为人工智能提供基础资源、技术以及应用 支持的上市公司证券作为指数样本，以反映科创板市场代表性人工智能产业上市公司证券的整体表现。 根据Wind数据显示，截至2025年7月24日，科创人工智 ...

8月16日，由南方财经全媒体集团指导，21世纪经济报道主办，浦发银行联合主办，浦银安盛基金参与 协办的"2025资产管理年会"如期在上海浦东隆重举办。在基金行业变革不断加速，《推动公募基金高质 量发展行动方案》稳步落实的大背景下，本届论坛聚焦"破局与重构——大资管再造竞争力"的主题，吸 引了来自政府部门、金融行业、研究机构和媒体的数百位嘉宾相聚黄浦江畔，共同探讨相关话题，碰撞 智慧的火花。 其中，浦银安盛基金董事、总经理张弛作为公募行业的代表分享了该公司践行高质量发展的经验。他指 出，浦银安盛基金作为一家中法合资银行系基金公司，自2007年成立至今已走过十八个发展年头，即将 步入"成年"。目前，公司旗下公募基金、专户、子公司专项资产管理三大业务领域齐头并进。到2025年 6月末，其公募基金规模已超3616亿元，总资产管理规模超过5000亿元。 2025年开年以来，全球科技股迎来新一轮爆发，在前沿技术商业化、全球产业链重构、政策支持等多重 因素推动下，机器人、AI、算力等亮点板块不断涌现。 在中国A股市场，科技股行情表现亮眼，科创板成为此轮科技股上涨的核心载体。截至2025年8月15 日，作为首只能够全面刻画科 ...