[Liuzhou LMZ Co., Ltd. 2025 H1 Earnings Forecast](index=1&type=section&id=%E6%9F%B3%E5%B7%9E%E4%B8%A4%E9%9D%A2%E9%92%88%E8%82%A1%E4%BB%BD%E6%9C%89%E9%99%90%E5%85%AC%E5%8F%B8%202025%20%E5%B9%B4%E5%8D%8A%E5%B9%B4%E5%BA%A6%E4%B8%9A%E7%BB%A9%E9%A2%84%E5%91%8A) [Current Period Earnings Forecast](index=1&type=section&id=%E4%B8%80%E3%80%81%20%E6%9C%AC%E6%9C%9F%E4%B8%9A%E7%BB%A9%E9%A2%84%E5%91%8A%E6%83%85%E5%86%B5) The company forecasts a net loss for H1 2025 but expects a profit after excluding non-recurring items Forecast for the Period January 1, 2025, to June 30, 2025 | Metric | Forecasted Amount (RMB) | | :--- | :--- | | **Net Profit Attributable to Shareholders** | -3.5 million to -6.5 million | | **Net Profit Attributable to Shareholders (Excluding Non-recurring Items)** | 3.5 million to 6.5 million | - This earnings forecast has **not been audited** by a certified public accountant[4](index=4&type=chunk) [Prior Year Period Performance](index=1&type=section&id=%E4%BA%8C%E3%80%81%20%E4%B8%8A%E5%B9%B4%E5%90%8C%E6%9C%9F%E4%B8%9A%E7%BB%A9%E6%83%85%E5%86%B5) The company reported a net loss in the same period of 2024, though it was profitable after non-recurring items Performance for the Same Period in 2024 | Metric (Prior Year Period) | Amount (RMB) | | :--- | :--- | | **Total Profit** | -6.46 million | | **Net Profit Attributable to Shareholders** | -3.47 million | | **Net Profit Attributable to Shareholders (Excluding Non-recurring Items)** | 8.94 million | | **Earnings Per Share** | -0.0063 | [Main Reasons for the Projected Loss in the Current Period](index=2&type=section&id=%E4%B8%89%E3%80%81%20%E6%9C%AC%E6%9C%9F%E4%B8%9A%E7%BB%A9%E9%A2%84%E4%BA%8F%E7%9A%84%E4%B8%BB%E8%A6%81%E5%8E%9F%E5%9B%A0) The projected net loss is mainly due to fair value losses on securities and increased R&D expenses - A key reason for the loss is an approximate **-RMB 15 million fair value change loss** on trading financial assets, primarily CITIC Securities stock[7](index=7&type=chunk) - During the reporting period, the company **increased its R&D investment**, leading to higher R&D expenses[7](index=7&type=chunk) - The company's operating revenue remained relatively stable year-over-year, with a slight increase in gross profit, indicating **stable core business operations**[7](index=7&type=chunk) [Risk Warning and Other Explanations](index=2&type=section&id=%E5%9B%9B%E3%80%81%20%E9%A3%8E%E9%99%A9%E6%8F%90%E7%A4%BA) The company states this forecast is preliminary and final figures will be in the audited H1 2025 report - The company confirms there are **no material uncertainties** that could affect the accuracy of this earnings forecast[8](index=8&type=chunk) - Investors are advised that the forecast data is preliminary and unaudited; final figures will be in the official semi-annual report, and **investment risks should be noted**[9](index=9&type=chunk)

证券代码：600249 证券简称：两面针 公告编号：临2025-028 柳州两面针股份有限公司 关于副总裁兼财务负责人离任 及总裁代行财务负责人职责的公告 特此公告。 柳州两面针股份有限公司董事会 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 柳州两面针股份有限公司（以下简称"公司"）近日收到董事、 副总裁、财务负责人王为民先生提交的书面辞职报告。王为民先生因 工作变动申请辞去公司董事、副总裁、财务负责人（财务总监）、董 事会战略委员会委员的职务。辞职后，王为民先生不再担任公司任何 职务。根据《公司章程》及相关法律、法规的规定，王为民先生的辞 职报告自送达董事会之日起生效。本次辞职未导致公司董事会成员人 数低于法定最低人数，不影响董事会的正常运行。 王为民先生在公司任职期间，恪尽职守、勤勉尽责，为公司的规 范运作和健康发展发挥了积极作用。公司及董事会对王为民先生为公 司做出的贡献表示衷心的感谢！ 为确保公司财务管理工作的平稳、有序运行，公司于 2025 年 7 月 1 日召开第八届董事会第二十九次会议，审议通过《关于总 ...

Core Viewpoint - The legal opinion letter confirms the legality and compliance of the 2024 annual general meeting of LiuZhou Two-Sided Needle Co., Ltd. with relevant laws and regulations, including the Company Law and Securities Law [1][2][7]. Group 1: Meeting Procedures - The board of directors proposed the annual general meeting on June 3, 2025, and scheduled it for June 26, 2025 [3]. - The meeting notice was published on June 4, 2025, in major financial newspapers and on the Shanghai Stock Exchange website, detailing the meeting's logistics [3][5]. - The meeting utilized a combination of on-site and online voting, with the on-site meeting starting at 10:00 AM on June 26, 2025 [3][5]. Group 2: Attendance and Qualifications - The meeting was convened by the board of directors, which is in accordance with the Company Law and relevant regulations [5][6]. - A total of 658 attendees, representing 204,413,845 shares (37.1661% of total issued shares), participated in the meeting [6]. - All attendees had valid proof of attendance, and online participants were verified by an identity verification agency [6]. Group 3: Voting Procedures and Results - Voting was conducted through both on-site and online methods, with monitoring by representatives and legal counsel [6][7]. - The results of the voting were compiled and included separate statistics for votes affecting minority investors [6]. - The voting procedures and results were confirmed to be in compliance with the Company Law and relevant regulations [7]. Group 4: Conclusion - The legal opinion concludes that all aspects of the meeting, including the convening, qualifications of attendees, voting procedures, and results, are in compliance with applicable laws and regulations [7].

证券代码：600249 证券简称：两面针 公告编号：2025-027 柳州两面针股份有限公司 2024年年度股东大会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 658 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 204,413,845 | | 3、出席会议的股东所持有表决权股份数占公司有 | 37.1661 | | 表决权股份总数的比例（%） | | (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持 情况等。 会议由公司董事会召集，董事长周云祥先生主持，采取现场投票 及网络投票相结合的方式召开并表决。会议的召集和召开符合《公司 法》和《公司章程》的规定，做出的决议合法、有效。 (一) 股东大会召开的时间：2025 年 06 月 26 日 (二) 股东大会召开的地点：广西柳州市东环大道 282 号本公司五楼会 议室 (三) 出席会议的普通股股东和恢 ...

北京市盈科（南宁）律师事务所 法律意见书 北京市盈科（南宁）律师事务所 关于柳州两面针股份有限公司 2024 年年度股东大 的法律意见书 盈科（桂）法意字（2025）第 L-02 号 致：柳州两面针股份有限公司 北京市盈科（南宁）律师事务所接受柳州两面针股份有限公司（以 下简称"公司"）的委托，指派本所律师对公司召开柳州两面针股份有 限公司 2024 年年度股东大会（以下简称"本次股东大会"或"会议"） 的有关事项进行见证并出具法律意见。 为出具法律意见，本所及经办律师依据《中华人民共和国证券法》、 《律师事务所从事证券法律业务管理办法》和《律师事务所证券法律业 务执业规则（试行）》等规定及本法律意见书出具日以前已经发生或者 存在的事实，严格履行了法定职责，遵循了勤勉尽责和诚实信用原则， 进行了充分的核查验证，保证本法律意见所认定的事实真实、准确、完 整，所发表的结论性意见合法、准确，不存在虚假记载、误导性陈述或 者重大遗漏，并承担相应法律责任。 本法律意见书的出具是基于公司已向本所律师提供了出具法律意见 所必须的、真实的、完整的书面材料。基于对上述文件、资料的审查和 现场见证情况，本所律师根据《中华人民共和 ...

Core Viewpoint - The company, Liuzhou Two-Needles Co., Ltd., has faced a decline in profitability and has taken on new short-term loans to benefit from government policies, while also planning to improve its financial performance through innovation and restructuring [1][2]. Company Announcements - The company reported a total cash balance of 1.273 billion yuan at the end of the reporting period, which accounts for 46.78% of total assets, with short-term loans increasing by 55.17% year-on-year to 90 million yuan [1][2]. - The company achieved a net profit of 8.95 million yuan after deducting non-recurring items in 2024, representing a year-on-year decline of 37.13%, with a gross margin of 13.84% for its main business in daily chemical products [1][2]. - The company plans to hold its 2024 annual shareholders' meeting on June 26, 2025, to review six proposals, including the annual report and profit distribution plan [3][5]. Financial Performance - In 2024, the company reported operating revenue of 1.053 billion yuan, a year-on-year increase of 5.82%, and a total profit of 110 million yuan, up 264.59% year-on-year [3][5]. - The total assets of the company amounted to 2.721 billion yuan, with total liabilities of 539 million yuan, resulting in a debt-to-asset ratio of 19.80% [3]. - The company has increased its R&D investment by approximately 10% and has completed several new product development and upgrade projects [3].

Core Viewpoint - The company, Liuzhou Two-Needle Co., Ltd., is preparing for its 2024 Annual General Meeting, focusing on maintaining shareholder rights and ensuring effective governance and operational transparency. Group 1: Meeting Details - The Annual General Meeting is scheduled for June 26, 2025, at 10:00 AM, held at the company's office building in Liuzhou [2][4]. - Shareholders must present identification and relevant documents to verify their attendance [2]. - The meeting will include a report from independent directors and will be conducted with both on-site and online voting [3][4]. Group 2: Financial Performance - For the year 2024, the company achieved a revenue of 1.053 billion yuan, representing a year-on-year increase of 5.82% [21]. - The total profit reached 110 million yuan, a significant increase of 264.59% compared to the previous year [21]. - The net profit attributable to shareholders was approximately 81 million yuan, reflecting a growth of 255.59% [21]. Group 3: Operational Highlights - The company focused on enhancing product quality and brand value, launching 24 new oral care products and 13 personal care products in 2024 [6][7]. - Marketing strategies included leveraging social media platforms and participating in major exhibitions, resulting in recognition as a top brand in the industry [6][7]. - The company maintained a low debt ratio of 19.80%, indicating strong financial health [21]. Group 4: Governance and Compliance - The board of directors held multiple meetings throughout the year, ensuring compliance with legal and regulatory requirements [8][9]. - Independent directors actively participated in decision-making processes, safeguarding the interests of minority shareholders [28][34]. - The company received positive evaluations for its information disclosure practices, maintaining transparency and accuracy [12][32]. Group 5: Future Plans - The company aims to enhance its core business and expand its market presence, focusing on integrating its health and personal care sectors [15][16]. - Plans include increasing investment in technology and innovation to improve product offerings and operational efficiency [15][16]. - The company will continue to strengthen investor relations and governance structures to foster trust and engagement with shareholders [16].

柳州两面针股份有限公司 2024 年年度股东大会 会议资料 为了维护股东的合法权益，确保公司股东大会的会议秩序和议事 效率，保证大会顺利进行，公司根据《公司法》《证券法》《上市公 司股东大会规则》《公司章程》及《股东大会议事规则》等规定，特 制定本须知。 一、股东和股东代理人参加股东大会，依法享有发言权、质询权、 表决权等规定的各项权利。出席人员应认真履行法定义务，不得侵犯 公司和其他股东的合法权益，不得扰乱大会的正常秩序。 二、股东的发言主题应与本次股东大会审议事项有关，简明扼要。 对于可能将泄露公司商业秘密或内幕消息，损害公司、股东共同利益 的提问，相关人员有权拒绝回答。 三、出席股东大会的股东及股东代理人，应当对提交表决的议案 发表如下意见之一：同意、反对或弃权。出席现场会议的股东及股东 代表务必在表决票上签署股东名称或姓名。未填、多填、填错、字迹 无法辨认、没有投票人签名或未投票的，均视为弃权。 股票简称：两面针 股票代码：600249 2025 年 6 月 26 日 目录 | 2024 | 年年度股东大会会议须知 | | 1 | | --- | --- | --- | --- | | 2024 | ...

Core Viewpoint - The company, Two-faced Needle, faces scrutiny from the stock exchange after disclosing its 2024 annual report, highlighting issues such as "non-urgent borrowing" and weak profitability in its main business [1] Financial Performance - As of the end of 2024, Two-faced Needle reported short-term borrowings of 90 million yuan, a significant increase of 55.17% year-on-year, despite holding a large amount of cash totaling 1.273 billion yuan, which accounts for 46.78% of total assets [2] - The company has a unique arbitrage model, with an average annual deposit interest rate of 3.26%, while the actual financing cost of loans obtained through various policies is as low as 0.22%-2.6%, resulting in a spread of 3.04 percentage points [2] - Interest income reached 40.72 million yuan in 2024, constituting 455% of the net profit excluding non-recurring items, indicating a heavy reliance on financial operations rather than core business activities [3] Business Challenges - The company derives 70% of its revenue from hotel daily necessities but faces structural challenges, including weak bargaining power as a supplier, low-value-added products, and a lag in channel transformation [4] - The reliance on external products accounts for 30% of its offerings, further compressing profit margins, while R&D investment remains below 1%, significantly lower than industry leaders [4] - Despite a strategic focus on "focusing on the main business and deepening the integration of medical and elderly care," the company has seen limited success in cost reduction and efficiency improvement, with sales expenses increasing by only 6.99% and management expenses rising by 15.33% in 2024 [4]

Core Viewpoint - In 2024, Liuzhou Two-side Needle (600249) has 1.2 billion yuan in self-owned funds for deposit interest collection, yet it borrowed 90 million yuan from banks to pay interest, revealing a business logic where deposit rates significantly exceed loan rates [1][2]. Group 1: Financial Position - As of the end of the reporting period, the company had monetary funds of 1.273 billion yuan, accounting for 46.78% of total assets, with short-term borrowings increasing by 55.17% year-on-year to 90 million yuan [2]. - The company's monetary funds include 1.142 billion yuan in the parent company, representing 89.71% of the total, largely due to a significant asset transaction in 2019 that generated approximately 1.2 billion yuan in principal and interest [3]. Group 2: Interest Income - The total monetary funds deposited by the company and its subsidiaries amounted to 1.27288 billion yuan, generating interest income of 40.7246 million yuan [4]. - The average monetary fund balance for the year was approximately 1.2605411 billion yuan, with an average interest rate of 3.26%. The majority of deposits, amounting to 1.03813 billion yuan, were held at Liuzhou Bank with interest rates ranging from 0.3% to 3.8%, yielding 33.2204 million yuan in interest [5]. Group 3: Loan Details - Of the 90 million yuan in loans, 10 million yuan benefited from a preferential rate under the Science and Technology Loan program, resulting in a post-subsidy annual interest rate of only 2.6%. The remaining 80 million yuan loans enjoyed a subsidy rate of 2.88%, with post-subsidy rates ranging from 0.22% to 1.27%, including 35 million yuan at a post-subsidy rate of 0.22% [6]. Group 4: Business Overview - Established on January 30, 2004, and listed on the Shanghai Stock Exchange, the company primarily engages in the research, production, and sales of oral care products, personal care items, and hotel supplies. In 2024, it achieved an operating income of 1.053 billion yuan, with a net profit of only 8.95 million yuan after deducting non-recurring items [7].