Core Points - Standard Co., Ltd. (stock code: 600302) reported that as of September 10, 2025, the number of shareholders is expected to be approximately 23,700 [1]

Group 1 - The company Standard Co. announced the convening of its first extraordinary general meeting of shareholders for 2025 on September 9, 2025 [2] - The meeting will review and approve multiple proposals, including the amendment of certain governance systems [2]

证券代码：600302 证券简称：标准股份 公告编号：2025-037 西安标准工业股份有限公司 2025年第一次临时股东大会决议公告 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 (一)股东大会召开的时间：2025 年 9 月 9 日 (二)股东大会召开的地点：西安市临潼区北田街办渭水七路公司渭北工业园五楼 会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 169 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 149,628,376 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股份总数的比例（%） | 43.2439 | (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。 本次股东大会由公司董事会召集，会议采用现场投票和网络投票相结合的方 式表决，表决方式符合《公司法》和《公司章程》的规定。现场会议由公司董事 长 ...

北京大成(西安)律师事务所 关于 西安标准工业股份有限公司 2025年第一次临时 股东大会的 法律意见书 大成西意字[2025]第【2t】】号 北京大成 西安市西安国际港务区港务大道4811号西安港 来购中心3号楼17层1702室(710026) Room 1702,17F,Building 3 Xi'an Port International Purchasing Center No.4811 Gangwu Road Xi'an International Trade & Logistics Park,Xi'an,China Tel: +86 29-88866955 Fax: +86 29-88866956 北京大成(西安)律师事务所 关于 西安标准工业股份有限公司 2025年第一次临时股东大会的 法律意见书 大成西意字[2025]第【2x】】号 致:西安标准工业股份有限公司 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（以下简称"中国证监会"）《上市公司股东会规则》（以下简称 "《股东会规则》")、《上市公司治理准则 ...

Core Viewpoint - The company plans to liquidate Shanghai Standard Hailing Sewing Machinery Co., Ltd. to mitigate the negative impact of its ongoing losses and to optimize resource integration and operational efficiency [1] Group 1 - The liquidation will result in the cancellation of Standard Hailing's independent legal status [1] - Customer resources and core technologies from Standard Hailing will be integrated within the company [1]

证券代码：600302 证券简称：标准股份 公告编号：2025-036 西安标准工业股份有限公司 关于对控股子公司标准海菱实施清算退出的公告 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： 1.公司直接持有标准海菱 55%的股权，标准海菱为公司控股子公司，为进一 步优化整合资源，提高运营效率，公司拟对标准海菱实施清算退出，清算完成后 标准海菱的独立法人资格将被注销。 2.标准海菱清算注销完成后，将不再纳入公司合并报表范围。本次清算退出 有利于优化整合资源，不会对公司财务状况和经营成果产生重大影响，不会损害 公司及股东的利益。 西安标准工业股份有限公司（以下简称"公司"）于 2025 年 9 月 5 日召开第 九届董事会第十八次会议，审议通过了《关于对控股子公司标准海菱实施清算退 出的议案》。具体如下： 一、清算退出概述 为终止上海标准海菱缝制机械有限公司（以下简称"标准海菱"）持续亏损 给公司带来的不利影响，进一步优化整合资源，提高运营效率，公司拟对标准海 菱实施清算退出。本次清算退出完成后，标准海菱的独立法人 ...

Group 1 - The core point of the article indicates that Standard Shares has experienced a decline in the number of shareholders, with a total of 24,500 shareholders as of August 31, which is a decrease of 3,100 from the previous period, representing a month-on-month decline of 11.23% [2] - The company's stock price closed at 6.95 yuan, up 0.43%, but has seen a cumulative decline of 3.74% since the concentration of shares began, with 3 days of increase and 5 days of decrease in the trading period [2] - According to the semi-annual report, the company achieved an operating income of 185 million yuan in the first half of the year, a year-on-year decrease of 21.37%, and reported a net loss of 8.52 million yuan, which is an increase of 68.82% compared to the previous year, with basic earnings per share at -0.0246 yuan [2]

Group 1 - The stock price of Standard Shares closed at 7.06 yuan on August 27, 2025, down by 0.21 yuan, representing a decline of 2.89% from the previous trading day [1] - The stock opened at 7.24 yuan, reached a high of 7.57 yuan, and a low of 7.04 yuan, with a trading range of 7.29% [1] - The total trading volume for the day was 158,800 hands, with a transaction amount of 116 million yuan [1] Group 2 - Standard Shares specializes in the research, production, and sales of sewing equipment, including industrial and household sewing machines [1] - The company is headquartered in Xi'an, Shaanxi Province, and operates within the specialized equipment manufacturing industry [1] - The net inflow of main funds for Standard Shares on that day was 1.7391 million yuan, with a cumulative net inflow of 8.9508 million yuan over the past five trading days [1] Group 3 - The current total market capitalization of Standard Shares is 2.443 billion yuan, with a circulating market value also at 2.443 billion yuan [1]

Core Insights - Standard Co. (600302) reported a total revenue of 185 million yuan for the first half of 2025, a year-on-year decrease of 21.37% [1] - The company recorded a net profit attributable to shareholders of -8.52 million yuan, which represents a year-on-year increase of 68.82% [1] - The gross profit margin improved by 9.69% year-on-year, reaching 19.13%, while the net profit margin increased by 48.18%, resulting in a net profit margin of -6.74% [1] Financial Performance - Total revenue for 2025 was 185 million yuan, down from 235 million yuan in 2024, reflecting a decline of 21.37% [1] - The net profit attributable to shareholders improved from -27.33 million yuan in 2024 to -8.52 million yuan in 2025, marking a 68.82% increase [1] - The company’s gross profit margin rose to 19.13% from 17.44% in the previous year, while the net profit margin improved from -13.00% to -6.74% [1] Cost and Expense Analysis - Total selling, administrative, and financial expenses amounted to 37.95 million yuan, accounting for 20.53% of revenue, a decrease of 23.79% year-on-year [1] - Operating costs decreased by 22.98% due to a drop in revenue, while sales expenses fell by 11.43% and management expenses decreased by 5.09% [3] - Financial expenses saw a significant increase of 645.29%, attributed to foreign exchange gains, which increased by 21.64 million yuan compared to the previous year [3] Cash Flow and Asset Management - The company’s cash flow from operating activities showed a negative change of 135.02%, primarily due to decreased cash inflow from sales [3] - Cash and cash equivalents increased by 114.58% due to the recovery of maturing financial products [3] - The company’s net cash flow from investment activities increased by 253.45%, while cash flow from financing activities decreased by 103.62% [3] Historical Performance and Investment Return - Over the past decade, the median Return on Invested Capital (ROIC) has been -2.66%, with the worst year being 2023 at -21.21% [4][5] - The company has reported losses in 8 out of 24 annual reports since its listing, indicating a generally poor financial performance [5] - The average operating cash flow over the past three years has been negative, raising concerns about the company's cash flow situation [5]

Core Viewpoint - Standard Co., Ltd. reported a decline in total revenue and a significant improvement in net profit for the first half of 2025, indicating a mixed financial performance amidst a challenging market environment [1]. Financial Performance Summary - Total revenue for the first half of 2025 was 185 million yuan, a decrease of 21.37% year-on-year [1]. - The net profit attributable to shareholders was -8.52 million yuan, an increase of 68.82% year-on-year [1]. - In Q2 2025, total revenue was 86.98 million yuan, down 25.34% year-on-year, while net profit was -3.88 million yuan, up 62.22% year-on-year [1]. - Gross margin improved by 9.69% to 19.13%, and net margin increased by 48.18% to -6.74% [1]. Cost and Expense Analysis - Total selling, administrative, and financial expenses amounted to 37.95 million yuan, accounting for 20.53% of revenue, a decrease of 23.79% year-on-year [1]. - The decrease in expenses was attributed to reduced advertising and employee compensation [3]. Cash Flow and Asset Management - Cash flow from operating activities showed a significant decline, with a net cash flow of -0.13 yuan per share, down 135.02% year-on-year [1][5]. - The company experienced a 109.74% increase in cash and cash equivalents due to the recovery of maturing financial products [3]. - Accounts receivable decreased by 19.68% to 265 million yuan, reflecting reduced sales [3]. Investment and Return Metrics - The company's historical return on invested capital (ROIC) has been poor, with a median of -2.66% over the past decade and a worst year ROIC of -21.21% in 2023 [4]. - The company has reported losses in 8 out of 24 annual reports since its listing, indicating a challenging investment profile [4].