Group 1 - The company has decided to extend the completion date of the "Annual Production of 1.8 Million 12-inch Semiconductor Silicon Epitaxial Wafer Project" to December 2027 due to market conditions and demand fluctuations [3][6][8] - The company raised a total of RMB 339 million through the issuance of convertible bonds, with a net amount of RMB 337.81 million after deducting issuance costs [1][2] - As of December 31, 2025, the cumulative investment from the raised funds amounted to RMB 286.99 million, excluding issuance costs [2] Group 2 - The project was initially delayed to May 2026 due to weak market conditions affecting the semiconductor industry, leading to underutilization of existing production capacity [3][5] - The construction of the new epitaxial workshop has reached the roofing stage and is expected to be completed by August 2026, followed by equipment installation and debugging [6][7] - The company has observed a recovery in the semiconductor silicon wafer industry since Q1 2025, with increased demand for high-end power devices, prompting a faster project construction pace [7] Group 3 - The board of directors approved the project delay during a meeting on January 9, 2026, and the decision followed necessary procedures [9][42] - The company has implemented a prudent investment strategy to protect shareholder interests and mitigate investment risks [5][8] - The company will continue to monitor market conditions and adjust the project implementation pace accordingly to ensure efficient use of raised funds [7][8]

Core Viewpoint - The company has made significant decisions during its board meeting, including the use of idle funds for working capital, acquisition of minority shares in a subsidiary, and providing guarantees for another subsidiary's financing [1][10][27]. Group 1: Board Meeting Resolutions - The board approved the use of idle raised funds not exceeding 800 million yuan for temporary working capital, with a usage period of up to 12 months [18][22]. - The board approved the acquisition of 10.27% minority shares in Henan Shennong Nylon Chemical Co., increasing the company's stake from 61.79% to 72.06% [28][32]. - The board approved providing guarantees for the financing of the subsidiary Zhongping Shennong Jiangsu New Materials Technology Co., with a total guarantee amount of 24.2 million yuan for one loan and 36 million yuan for another [12][15]. Group 2: Financial Details of Transactions - The acquisition price for the minority shares is set at 95.2 million yuan, based on an asset valuation report that indicated an increase in the company's equity value by 61.3 million yuan, representing a 7.08% increase [28][29][42]. - The company has cumulatively provided guarantees amounting to 5.306 billion yuan, exceeding 50% of its latest audited net assets [13][17]. Group 3: Upcoming Shareholder Meeting - A third extraordinary general meeting of shareholders is scheduled for August 19, 2025, to discuss the resolutions passed by the board [55][56]. - The meeting will utilize both on-site and online voting methods, ensuring broader participation [56][60].

2025 年第一次临时股东大会 上海锦天城（厦门）律师事务所 关于福建海峡环保集团股份有限公司 之 法 律 意 见 书 中国福建省厦门市思明区湖滨东路华润大厦 B 栋 12、13 层 电话：+86-592-261 3399 传真：+86-592-263 0863 www.allbrightlaw.com 上海锦天城（厦门）律师事务所 关于福建海峡环保集团股份有限公司 2025年第一次临时股东大会之法律意见书 （2025）厦锦律书字第【0005】号 三、在出具本法律意见书之前，本所律师得到海峡环保公司及其相 上海锦天城（厦门）律师事务所 - 1 - 法律意见书 关人员的如下保证： 1、提供给本所律师的所有文件副本和书面材料复印件，与其正本或 原件是严格相符的； 2、文件和书面材料中的盖章和签字均是真实有效的； 3、文件、书面材料、以及有关的书面和口头陈述，均真实、准确、 完整、没有遗漏，且不包含任何误导性的信息； 共【7】页 致：福建海峡环保集团股份有限公司 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》"）和中国证券监督管 理委员会《上市公司股东大会规则 ...