兴业证券股份有限公司 关于 四川福蓉科技股份公司 收购报告书 之 财务顾问报告 （福建省福州市湖东路268号） 签署日期：二〇二五年六月 目 录 十、关于对在收购标的是否设定其他权利，是否在收购价款之外还作出其他补偿安排的 十二、关于上市公司原控股股东、实际控制人及其关联方是否存在未清偿对上市公司的 非经常性资金占用、未解除上市公司为其负债提供的担保或者损害上市公司利益的其他 第一节 财务顾问声明 本声明所述词语或简称与本财务顾问报告"释义"所述词语或简称具有相同 的含义。 依据《中华人民共和国公司法》 《中华人民共和国证券法》 《上市公司收购管 《公开发行证券的公司信息披露内容与格式准则第 16 号——上市公司收 理办法》 购报告书》及其他相关法律、法规、部门规章和规范性文件的规定，兴业证券股 份有限公司按照证券行业公认的业务标准、道德规范，本着诚实信用、勤勉尽责 的精神，对本次收购的相关情况和资料进行了核查，对《四川福蓉科技股份公司 收购报告书》所披露的内容出具财务顾问报告。为使相关各方恰当地理解和使用 本财务顾问报告，本财务顾问特作出如下声明： 一、本财务顾问已按照规定履行了尽职调查义务，对收购人披露的 ...

关于《四川福蓉科技股份公司收购报告书》的 法 律 意 见 书 福建至理律师事务所 地址：中国福州市鼓楼区洪山园路华润万象城三期 TB#写字楼 22 层 邮政编码：350025 电话： （86 591）8806 5558 传真： （86 591）8806 8008 网址：http://www.zenithlawyer.com 福建至理律师事务所 关于《四川福蓉科技股份公司收购报告书》 的法律意见书 闽理非诉字〔2025〕第 126-01 号 致：福建省工业控股集团有限公司 根据福建省工业控股集团有限公司（以下简称省工控集团或收购人）与福建 至理律师事务所（以下简称本所）签订的《证券法律业务委托协议书》，本所接 受省工控集团的委托，指派蒋浩、谢婷律师（以下简称本所律师）担任省工控集 团的专项法律顾问，就福建省人民政府国有资产监督管理委员会（以下简称福建 省国资委）将其直接持有的福建省冶金(控股)有限责任公司（以下简称福建冶金） 的 80%股权全部无偿划转给省工控集团（以下简称本次无偿划转），从而使得省 工控集团间接拥有四川福蓉科技股份公司（股票代码：603327，以下简称福蓉科 技或上市公司）权益，并成为福蓉科技 ...

Core Viewpoint - The acquisition of Xiamen Tungsten Industry Co., Ltd. by Fujian Provincial Industrial Holding Group Co., Ltd. is a strategic move to consolidate state-owned enterprises in Fujian Province, with the aim of enhancing operational efficiency and control over the company [1][2][11]. Group 1: Acquisition Details - The acquisition involves the transfer of 80% equity of Fujian Metallurgy (Holding) Co., Ltd. to Fujian Provincial Industrial Holding Group, which will indirectly control 30.90% of the voting rights in Xiamen Tungsten [2][11]. - The acquisition is classified as a state-owned equity transfer, which allows the acquirer to bypass the obligation to make a public offer due to the nature of the transaction [2][11]. - The acquisition is part of a broader strategy to reorganize and integrate state-owned enterprises in Fujian Province, aligning with the directives of the provincial government [7][8]. Group 2: Company Background - Fujian Provincial Industrial Holding Group Co., Ltd. was established on May 27, 2025, with a registered capital of 800 million RMB and is wholly owned by the Fujian Provincial State-owned Assets Supervision and Administration Commission [3][4]. - The company is involved in various sectors, including investment activities, management consulting, and manufacturing of materials such as steel and rare earth products [4][5]. - As of the report date, Fujian Provincial Industrial Holding Group has not engaged in any actual business operations since its establishment [5]. Group 3: Future Plans - There are currently no plans for further acquisition or disposal of shares in Xiamen Tungsten within the next 12 months, aside from the current equity transfer [8][10]. - The company will adhere to all legal and regulatory requirements for information disclosure regarding any future changes in equity [8].

Core Viewpoint - The report outlines the equity change of Fujian Qingshan Paper Industry Co., Ltd., where Fujian Provincial Industrial Holding Group Co., Ltd. will acquire 100% equity of Fujian Light Textile through a non-compensatory transfer, indirectly controlling 18.95% of Qingshan Paper's voting rights, thus becoming its indirect controlling shareholder [1][2][12]. Group 1: Equity Change Details - The equity change is a result of the non-compensatory transfer of 100% equity of Fujian Light Textile from the Fujian State-owned Assets Supervision and Administration Commission to Fujian Provincial Industrial Holding Group [2][10]. - After the equity change, Fujian Provincial Industrial Holding Group will indirectly control 426,942,224 shares of Qingshan Paper, representing 18.95% of the total voting rights [12][24]. - The change does not affect the direct controlling shareholder or the actual controller of Qingshan Paper, which remains Fujian Light Textile and Fujian State-owned Assets Supervision and Administration Commission, respectively [10][12]. Group 2: Company Information - Fujian Provincial Industrial Holding Group was established on May 27, 2025, with a registered capital of 800 million yuan [7][8]. - The company is a wholly state-owned limited liability company, primarily engaged in investment activities, management consulting, and various manufacturing sectors including paper production [7][8]. - As of the report date, Fujian Provincial Industrial Holding Group has not conducted any actual business operations since its establishment [8]. Group 3: Future Plans and Procedures - There are no plans for further acquisition or disposal of Qingshan Paper shares within the next 12 months, aside from the current equity change [10][11]. - The equity change requires the completion of registration procedures with government market supervision departments for the change of equity holder of Fujian Light Textile [11][26]. - The company has committed to maintaining the independence of Qingshan Paper in terms of assets, personnel, finance, and operations following the equity change [16][18].