永久性补充流动资金的核查意见 上海证券交易所： 国泰海通证券股份有限公司 关于湖南金博碳素股份有限公司 部分募集资金投资项目结项并将节余募集资金 国泰海通证券股份有限公司（以下简称"国泰海通""保荐机构"）作为 湖南金博碳素股份有限公司（以下简称"上市公司""公司""金博股份"）持 续督导保荐机构，根据《证券发行上市保荐业务管理办法》《上海证券交易所科 创板股票上市规则》等有关法律、法规要求，对公司部分募集资金投资项目结项 并将节余募集资金永久性补充流动资金事项进行了核查，具体核查情况及核查意 见如下： 一、公司募集资金基本情况 公司本次向特定对象发行股票募集资金投资项目基本情况如下： 单位：万元 | 序号 | 项目名称 | 预计项目总投资额 | 拟投入募集资金金额 | 备注 | | --- | --- | --- | --- | --- | | 1 | 高纯大尺寸项目 | 180,256.46 | 180,256.46 | 已结项 | | 2 | 金博研究院建设项目 | 80,035.16 | 80,035.17 | 本次结项 | | 3 | 补充流动资金 | 50,000.00 | 46,702.86 | ...

Core Viewpoint - Jinbo Co., Ltd. has been recognized for its exemplary practices in investor communication, being included in the "Best Practices for 2024 Annual Report Performance Briefing" by the China Listed Companies Association [1][3]. Group 1: Company Recognition - Jinbo Co., Ltd. was selected for its standardized and innovative investor communication practices [1]. - The recognition serves as a benchmark for corporate governance and investor relations management in China's listed companies [3]. Group 2: Investor Communication Practices - The company emphasizes investor relations management through various channels, including the Shanghai Stock Exchange E-Interaction platform, performance briefings, investor meetings, and social media [3]. - Jinbo Co. actively participates in investor reception days and engages in activities that promote transparency and communication of its operational dynamics, strategic layout, and social responsibilities [3]. Group 3: Future Plans - The company plans to explore diversified investor communication models, focusing on investor needs and optimizing information disclosure and value transmission mechanisms [3]. - Jinbo Co. aims to deepen investors' understanding and recognition of its core values, fulfilling its responsibilities as a listed company and contributing to the high-quality development of the capital market [3].

Core Insights - The Essen Motor Show in Germany showcased Hunan Jinbo Carbon Co., Ltd.'s carbon-ceramic brake pads, attracting significant attention from the European automotive market [1] - The European Commission proposed the "EU Stage 7 Emission Standards," which aims to reduce brake particle emissions from 7 mg/km to 3 mg/km for new vehicles, creating a demand for low-cost, high-efficiency alternatives [1] Group 1: Company Developments - Jinbo's carbon-ceramic brake pads offer a lifespan of up to 500,000 kilometers, with some premium products reaching 800,000 kilometers, and emit only one-tenth of the particles compared to traditional cast iron brake pads [2] - The company is positioned to meet the needs of EU automotive manufacturers seeking reliable and efficient components as they adapt to stricter emission standards [3] Group 2: Industry Trends - The demand for low-cost and high-reliability automotive components is increasing among EU manufacturers, presenting an opportunity for Chinese automotive parts suppliers to strengthen their market position [3] - The collaboration between China and the EU in the automotive supply chain is expected to deepen, especially as China develops its own Stage 7 vehicle emission standards [3] Group 3: Technological Insights - An alternative to traditional brake pads is the laser cladding brake pad, which faces challenges such as coating defects, complex processing, and lower high-temperature performance compared to carbon-ceramic materials [2] - The long-term durability of laser cladding brake pads is significantly inferior to that of carbon-ceramic brake pads, which can operate without replacement under normal conditions [2]

Core Insights - Multiple listed companies are focusing on the silicon-carbon anode sector, with products entering small-scale testing and actively advancing pilot production [1] - The silicon-carbon anode material is expected to experience rapid growth, with a significant boom anticipated in 2026 [1] Company Developments - Jiangxi Hengda High-tech Co., Ltd. reported that its silicon-carbon anode project is progressing well, achieving small-scale supply, with a thousand-ton production line in installation and debugging [1] - Zhenjiang Dongfang Electric Heating Technology Co., Ltd. is manufacturing production equipment for silicon-carbon anodes [1] - Hunan Zhongke Electric Co., Ltd. is investing in the silicon-carbon anode sector, with existing products passing evaluations from multiple clients and set to enter mass production [1] - Shanghai Xiangfenghua Technology Co., Ltd. has delivered silicon-carbon anode products for testing to several battery manufacturers, planning small-scale trial production in 2025 [1] Industry Insights - Silicon-carbon anodes offer significant advantages, including a theoretical capacity over ten times that of traditional graphite, enhancing the endurance of electric vehicles and consumer electronics [2] - The main challenge for silicon-carbon anodes is their high cost, with premium products priced about eight times higher than traditional graphite [2] - Companies are focusing on reducing costs, particularly in the porous carbon segment, which constitutes 40% to 80% of the total cost [2] - The two main production pathways for porous carbon are high-priced resin and biomass materials, each with distinct advantages and disadvantages [2] - The industry anticipates that 2026 will be a pivotal year for technological breakthroughs in silicon-carbon anodes, with costs potentially becoming competitive with traditional graphite [3]

Group 1 - The core transaction of Jinbo Co., Ltd. on November 25 involved a block trade of 120,000 shares, amounting to 3.4656 million yuan, with a transaction price of 28.88 yuan, reflecting a premium of 0.14% over the closing price of the day [2][3] - The closing price of Jinbo Co., Ltd. on the same day was 28.84 yuan, showing an increase of 0.14%, with a turnover rate of 1.47% and a total trading volume of 86.1929 million yuan, while the net outflow of main funds was 748,100 yuan [2][3] - Over the past five days, the stock has experienced a cumulative decline of 5.19%, with a total net inflow of funds amounting to 13.111 million yuan [2][3] Group 2 - The latest margin financing balance for Jinbo Co., Ltd. is 594 million yuan, which has decreased by 8.9816 million yuan over the past five days, representing a decline of 1.49% [3]

Group 1 - On November 25, Jinbo Co., Ltd. executed a block trade of 120,000 shares, with a transaction amount of 3.4656 million yuan, accounting for 3.87% of the total transaction volume for the day [1] - The transaction price was 28.88 yuan, which is a premium of 0.14 yuan compared to the market closing price of 28.84 yuan [1]

Core Insights - Jinbo Carbon Co., Ltd. has received recognition from clients in the photovoltaic, hydrogen energy, and automotive sectors for its products, processes, and technologies [1] - The company was awarded the "Value Partner Award" by Tongwei Co., Ltd. during the 8th China International Photovoltaic and Energy Storage Industry Conference, highlighting its comprehensive strength and innovative value in the photovoltaic materials sector [1] Group 1 - On November 20, Jinbo's subsidiary, Hunan Jinbo Hydrogen Energy Technology Co., Ltd., signed a strategic cooperation framework agreement with Zhejiang Fengyuan Hydrogen Energy Technology Co., Ltd. to collaborate on key materials for fuel cells, product validation, and domestic application [2] - Fengyuan Hydrogen Energy, established in May 2018, holds over 150 patents related to fuel cells, including more than 100 invention patents, and provides hydrogen energy solutions for vehicles and power stations [2] Group 2 - From November 19 to November 21, a team of experts from Mercedes-Benz Group AMG conducted a comprehensive audit of Jinbo, focusing on production process compliance, product quality control, supply chain management, and after-sales service standards [2] - The AMG experts visited Jinbo's research institute and evaluated the company's performance in quality control, technology application, and order delivery, providing positive feedback and recognition [2][4]

Group 1 - The core point of the news is that Jinbo Co., Ltd. experienced a 5.02% decline in stock price, closing at 30.30 yuan per share, with a total market capitalization of 6.289 billion yuan [1] - Jinbo Co., Ltd. was established on June 6, 2005, and went public on May 18, 2020. The company specializes in the research, production, and sales of advanced carbon-based composite materials and products [1] - The main revenue composition of Jinbo Co., Ltd. includes products for the lithium battery sector at 48.39%, photovoltaic and semiconductor sectors at 26.09%, transportation sector at 24.88%, and other supplementary products at 0.65% [1] Group 2 - Among the top ten circulating shareholders of Jinbo Co., Ltd., a fund under Invesco Great Wall is notable. The Invesco Great Wall New Energy Industry Stock A (011328) reduced its holdings by 3,308 shares in the third quarter, now holding 4.1106 million shares, which is 2.01% of the circulating shares [2] - The Invesco Great Wall New Energy Industry Stock A (011328) was established on February 22, 2021, with a latest scale of 2.468 billion yuan. Year-to-date returns are 33.18%, ranking 1468 out of 4212 in its category, while the one-year return is 31.54%, ranking 1295 out of 3956 [2]

Core Viewpoint - Jinbo Co., Ltd. has experienced a stock price decline of 2.02% on November 17, with a current price of 31.45 CNY per share, despite a year-to-date increase of 49.34% [1] Financial Performance - For the period from January to September 2025, Jinbo Co., Ltd. achieved a revenue of 618 million CNY, representing a year-on-year growth of 40.34%. However, the net profit attributable to shareholders was -276 million CNY, a decrease of 88.84% compared to the previous year [2] - Cumulative cash dividends since the A-share listing amount to 104 million CNY, with 23.52 million CNY distributed over the past three years [3] Shareholder Structure - As of September 30, 2025, the number of shareholders increased by 7.13% to 14,300, while the average circulating shares per person decreased by 6.66% to 14,262 shares [2] - The top ten circulating shareholders include notable entities such as Invesco Great Wall New Energy Industry Fund and Hong Kong Central Clearing Limited, with some shareholders reducing their holdings [3] Business Overview - Jinbo Co., Ltd. specializes in the research, production, and sales of advanced carbon-based composite materials, with its main revenue sources being lithium battery products (48.39%), photovoltaic and semiconductor products (26.09%), and transportation products (24.88%) [1] - The company is categorized under the power equipment industry, specifically in photovoltaic equipment and materials, and is associated with concepts such as silicon carbide and third-generation semiconductors [1]

Core Insights - The company reported a revenue of 618 million yuan for the first three quarters of 2025, representing a year-on-year growth of 40.34% [1] - The net profit attributable to shareholders was -276 million yuan, indicating a loss [1] - In Q3 2025, the company achieved a revenue of 207 million yuan, showing a significant year-on-year increase of 113.14%, but a quarter-on-quarter decline of 17.39% [1] Financial Performance - The company maintained a high R&D expenditure of 36 million yuan in Q3 2025, while other expenses related to sales, management, and finance remained stable [2] - The gross profit margin for Q3 2025 was -6.8%, reflecting the impact of reduced revenue from the photovoltaic sector and decreased operating rates [2] - The company recognized an asset impairment loss of 3.8 million yuan [2] Strategic Focus - The company is deeply engaged in the advanced carbon-based materials sector, focusing on the industrialization platform strategy and expanding applications in transportation and lithium battery fields [2] - To address intense market competition, the company is implementing quality improvement, cost reduction, and efficiency enhancement measures, while maintaining a high proportion of R&D investment [2] - The company is actively adjusting its market focus to enhance the market expansion of new business areas and diversify its advanced carbon-based material products [2] Future Outlook - The ongoing recovery in silicon wafer prices and profitability is expected to improve the company's thermal field profits as the photovoltaic sector continues to evolve [2] - The company is committed to ongoing innovation in new products and technologies, particularly in promoting carbon-ceramic brake discs, lithium battery thermal field components, and porous carbon products [2]