Core Points - The company plans to distribute a cash dividend of 0.25 yuan per share for the fiscal year 2024, maintaining the same amount as previously proposed [1][3] - The total number of shares after the capital reserve increase will rise to 997,491,851 shares, with the increase being based on the conversion of the "Furong Convertible Bonds" [1][2] - The adjustments in the profit distribution and capital reserve increase are due to changes in the total share capital resulting from the conversion of convertible bonds [1][3] Pre-Adjustment Situation - Prior to the adjustment, the company proposed a cash dividend of 2.50 yuan per 10 shares and a capital reserve increase of 3 shares for every 10 shares held, based on a total share capital of 764,710,063 shares [2] - The total number of shares to be increased was estimated at 229,413,019 shares, leading to a significant increase in the total share capital [2] Post-Adjustment Situation - Following the adjustments, the company will distribute a total cash dividend of approximately 191,177,814.75 yuan, based on the adjusted total share capital of 764,711,259 shares [3] - The company will also increase the share capital by 3 shares for every 10 shares held, with the final numbers subject to confirmation by the China Securities Depository and Clearing Corporation [3]

Core Viewpoint - Jiangsu Dingsheng New Energy Materials Co., Ltd. has completed the registration change of its business license following the approval of the capital change and amendment of the company's articles of association at the annual shareholders' meeting held on May 20, 2025 [1]. Group 1: Company Information - The company has a registered capital of 930.957413 million yuan [1]. - The company is located in the Jingkou Economic Development Zone, Zhenjiang, Jiangsu [1]. - The legal representative of the company is Wang Cheng [1]. Group 2: Business Scope - The company is engaged in the manufacturing and sales of electronic special materials, non-ferrous metal alloys, and various metal materials [1]. - The company also provides technology services, development, consulting, and transfer related to new materials [1]. - The company is involved in import and export activities, including machinery equipment and general goods [1].

Core Insights - The 2025 Shaoxing Top 100 Private Enterprises list has been released, showcasing the achievements of the local private economy and aiming to leverage exemplary companies for further development [2] - The threshold for inclusion in this year's list was an annual revenue of 2.143 billion yuan, reflecting a 6.35% increase from the previous year [2] - The total revenue of the listed companies reached 1.3 trillion yuan, marking a 2.7% growth [2] - There are 26 companies with revenues exceeding 10 billion yuan, maintaining the same number as last year, with Hailiang Group leading at 260.2 billion yuan [2] Regional Distribution - The companies on the list are distributed across various regions, with 29 from Keqiao District, 21 from Shangyu District, 20 from Zhuji City, 10 from Xinchang County, 8 from Yuecheng District, 7 from Binhai New District, and 5 from Shengzhou City [4] Industry Distribution - The industries represented in the list are diverse, with significant representation from construction, manufacturing, and services [4] - Notably, emerging industries such as integrated circuits, biomedicine, and new materials have a higher proportion of representation among manufacturing companies, aligning with the city's industrial development direction [4][11] Innovation and R&D - The total R&D investment of the top 100 private enterprises reached 22.409 billion yuan, a 6.13% increase from the previous year, indicating a continuous increase in innovation capabilities [4][8] - Hailiang Group has significantly invested in innovation, developing a fifth-generation intelligent casting and rolling production line, which has set a leading international standard [8][10] - New and emerging companies, such as Jingsheng Electromechanical, have made strides in semiconductor materials, achieving breakthroughs in self-developed technologies [12] Economic Contribution - From January to April this year, the added value of large-scale private industrial enterprises in Shaoxing grew by 11.8%, contributing 90.8% to the overall industrial added value [5] - The local government is committed to promoting the healthy development of the private economy and enhancing the business environment through various supportive measures [5][19] Core Competitiveness - Many enterprises have focused on deepening their core business areas, leading to the establishment of strong competitive advantages [15] - Companies like Zhejiang Baoye Construction Group and Supor have successfully expanded their business segments while maintaining a focus on their primary industries [15][16] Government Support - The local government has implemented upgraded policies to support private enterprises, including the "1+9+X" policy framework and various initiatives aimed at enhancing the innovation environment [19][21] - A total of 29 comprehensive service centers have been established to facilitate business operations, ensuring a supportive ecosystem for enterprise growth [21]

Key Points - The company announced a cash dividend of 0.16 RMB per share (before tax) [1][2] - The total cash dividend distribution amounts to 50,715,392 RMB (before tax) based on a total share capital of 316,971,200 shares [2][3] - The dividend distribution was approved at the annual general meeting held on May 16, 2025 [2] - Key dates for the dividend distribution include the record date on June 12, 2025, the last trading day on June 13, 2025, and the ex-dividend date also on June 13, 2025 [2][3] - The company will not implement any differential dividend distribution or capital increase through bonus shares [2] - The cash dividends will be distributed through China Securities Depository and Clearing Corporation Limited, Shanghai Branch [2][3] - Individual shareholders will be subject to different tax rates based on their holding period, with a maximum tax rate of 20% for shares held for one month or less [3][4] - For Qualified Foreign Institutional Investors (QFII), a withholding tax of 10% will apply, resulting in a net cash dividend of 0.144 RMB per share [4][5] - The company will not withhold corporate income tax for other institutional investors, who will be responsible for their own tax payments [5]

北京市鑫河律师事务所 BEIJING X.H.LAW FIRM 北京市鑫河律师事务所 关于宁波金田铜业（集团）股份有限公司 差异化分红事项的法律意见书 地址：北京市西城区太平街 6 号富力摩根中心 E 座 901 室 邮编：100050 电话：（8610）59362077 传真：（8610）59362188 网址：www.xhlaw.cn 鑫河律师事务所 法律意见书 北京市鑫河律师事务所 关于宁波金田铜业（集团）股份有限公司 差异化分红事项的法律意见书 致：宁波金田铜业（集团）股份有限公司 北京市鑫河律师事务所（以下简称"本所"）接受宁波金田铜业（集团）股 份有限公司（以下简称"金田股份"或"公司"）的委托，就公司 2024 年度利 润分配所涉及的差异化分红（以下简称"本次差异化分红"）相关事项，根据《公 司法》、《证券法》、《上市公司股份回购规则》、《上海证券交易所股票上市 规则》、《上海证券交易所交易规则》、《上海证券交易所上市公司自律监管指 引第 7 号——回购股份》等相关法律、法规及中国证监会、上海证券交易所的有 关规定，出具本法律意见书。 为出具本法律意见书之目的，本所律师审阅了金田股份与本次差异化 ...

Core Viewpoint - The company announces adjustments to the conversion prices of its convertible bonds, "Jintian Convertible Bond" and "Jincopper Convertible Bond," in relation to the 2024 annual profit distribution plan, effective June 13, 2025 [1][5]. Group 1: Conversion Price Adjustments - The pre-adjustment conversion prices are set at 10.43 CNY/share for "Jintian Convertible Bond" and 5.90 CNY/share for "Jincopper Convertible Bond" [1][4]. - The adjusted conversion prices will be 10.32 CNY/share for "Jintian Convertible Bond" and 5.79 CNY/share for "Jincopper Convertible Bond" after a cash dividend distribution of 0.108 CNY/share [5]. - The adjustment formula for conversion prices is based on the company's bond issuance regulations, which account for changes in share capital due to dividends, stock splits, or new share issuances [4][5]. Group 2: Dividend Distribution - The company plans to distribute a cash dividend of 1.10 CNY (including tax) for every 10 shares held, without any capital increase or stock bonus [2][3]. - The dividend distribution will be based on the total share capital after accounting for shares held in the company's repurchase account [2][3]. - The cash dividend distribution is part of a differentiated cash dividend plan, with the specific details disclosed in the company's annual profit distribution announcement [5].

Group 1 - The company held its 9th meeting of the 10th Supervisory Board on May 29, 2025, with all three supervisors present, meeting legal requirements [1][2] - The Supervisory Board approved the proposal to sell the aluminum profile business, which is considered to have weak profitability, to optimize the company's industrial layout and asset structure, promoting strategic transformation and high-quality development [1][2] - The transaction was conducted under objective, fair, and reasonable pricing principles, ensuring no significant adverse impact on the company's operating status or the interests of non-related shareholders, particularly minority shareholders [1][2] Group 2 - The Supervisory Board also approved the proposal to absorb and merge a wholly-owned subsidiary, which is expected to further optimize the organizational structure, reduce management costs, and improve operational efficiency [2] - The financial statements of the trading company, being a wholly-owned subsidiary, are already included in the company's consolidated financial statements, meaning the merger will not have a substantial impact on the company's financial status or ongoing profitability [2] - The decision aligns with the company's development strategy and benefits all shareholders [2]

Macro Strategy - The core viewpoint indicates that the recent auction results for US and Japanese long-term bonds show weak demand, raising concerns about US debt liquidity and fiscal sustainability, leading to a significant drop in US stocks and a rise in gold prices by 4.8% [1] - Analysts have collectively revised the US GDP growth forecast upward for the year while lowering CPI inflation expectations, maintaining the outlook for the Federal Reserve to cut rates twice this year [1] Fixed Income - The report suggests that the Federal Reserve is currently in a "data-dependent mode," likely to hold rates steady in June, but may start cutting rates between July and September if economic data continues to weaken [2] - It is recommended to pay attention to the value of interbank certificates of deposit following the recent reduction in deposit rates [3] Real Estate Industry - The report notes an increase in new home transactions both month-on-month and year-on-year, with a similar trend observed in second-hand home sales [6] - The LPR was adjusted down by 10 basis points, with the 5-year LPR now at 3.5% and the 1-year LPR at 3% [6] - Investment recommendations include major developers like China Resources Land and Poly Developments, as well as property management firms such as China Resources Vientiane Life and Greentown Service [6] Retail Industry - The retail sales total for April was reported at 3.72 trillion yuan, with a year-on-year growth of 5.1%, maintaining a high growth rate [7] - Investment opportunities in the consumer sector include beauty care brands like Maogeping and pet food companies like Guibao Pet [7] Oil Industry - The report highlights that the EIA and IEA have raised their global oil demand forecasts for 2025, with recommendations for companies like CNOOC and Sinopec [8] Gas Industry - The report anticipates a relaxed supply of gas and cost optimization for gas companies, with a focus on companies like Xin'ao Energy and China Gas [9] Electric Power Equipment Industry - The report indicates that Tesla is set to ramp up production of humanoid robots, with significant growth expected in the electric vehicle sector [11] - The domestic sales of new energy vehicles reached 1.23 million units in April, with a projected annual growth of 25-30% [11] Construction Materials Industry - The report suggests a continued recommendation for consumer building materials, with expectations for the home improvement sector to benefit from stimulus policies [12][13] - It highlights the potential for infrastructure projects in the Midwest to provide a buffer against external demand fluctuations [13] Pharmaceutical Industry - The report emphasizes the growth potential in the innovative drug sector, recommending companies like BeiGene and Hengrui Medicine [15][16] Non-Bank Financial Industry - The report indicates that the non-bank financial sector is currently undervalued, with a focus on insurance and securities firms benefiting from economic recovery [19] Precious Metals Industry - The report notes that gold prices have surged due to concerns over US fiscal health and fluctuating tariff policies, with gold closing at $3,357.70 per ounce [20] Coal Industry - The report indicates that coal prices are stabilizing after a period of decline, with recommendations for companies like Guanghui Energy and Haohua Energy [21]

Group 1: Company Overview and Development - Zhejiang Hailiang Co., Ltd. has a strong development history and a clear mission and vision, focusing on product services and global layout [1] - The company has been actively investing in new product development, particularly in copper foil, which is expected to improve profitability in 2024 [2] Group 2: Production and Operations - The U.S. factory, established in 2019, is currently in a stable capacity ramp-up phase with good order status [1] - The copper foil business faced short-term profit pressure but is showing signs of recovery, with production efficiency gradually improving [2] Group 3: Financial Information - As of March 31, 2025, the remaining convertible bonds amount to ¥2,702,368,200, with 27,023,682 bonds outstanding, indicating a strong repayment capability [3] Group 4: Risk Management and Innovation - The company has established an aluminum production base to address the risk of aluminum replacing copper, focusing on product innovation and process optimization [4] - Digital transformation is a key focus, with ongoing upgrades to ERP systems and global deployment of MES, recognized by provincial honors [2]

安徽众源新材料股份有限公司 章 程 二〇二五年四月 第一章 总则 第一条 为维护安徽众源新材料股份有限公司（以下简称公司）、股东、职 工和债权人的合法权益，规范公司的组织和行为，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》）和其 他有关规定，制订本章程。 第二条 公司系依照《中华人民共和国公司法》等法规和规定设立的股份有 限公司。 公司系由芜湖众源金属带箔有限公司以整体变更的方式发起设立，在安徽省 芜湖市工商行政管理局注册登记，取得营业执照，营业执照号 340208000001848。 第三条 公司于 2017 年 8 月 11 日经中国证券监督管理委员会核准，首次向 社会公众发行人民币普通股 3,110 万股，于 2017 年 9 月 7 日在上海证券交易所 上市。 第四条 公司注册名称：安徽众源新材料股份有限公司 第五条 公司住所：芜湖经济技术开发区凤鸣湖北路 48 号 邮政编码：241008 第六条 公司注册资本为人民币 31,697.12 万元。 第七条 公司为永久存续的股份有限公司。 第八条 代表公司执行公司事务的董事为公司的法定代表人，由董事会 ...