Core Viewpoint - Hongda Co., Ltd. reported mixed financial results for the first half of 2025, with a slight increase in total revenue but a significant decline in net profit, indicating potential challenges in profitability and cash flow management [1][3]. Financial Performance - Total revenue for the first half of 2025 reached 1.811 billion yuan, a year-on-year increase of 2.8% compared to 1.762 billion yuan in 2024 [1]. - The net profit attributable to shareholders was -74.9946 million yuan, representing a year-on-year decline of 228.54% from a profit of 5.8343 million yuan in 2024 [1]. - The gross profit margin decreased to 2.11%, down 79.04% from 10.08% in the previous year [1]. - The net profit margin turned negative at -4.14%, a decrease of 225.03% from 3.31% in 2024 [1]. - The company reported a significant increase in accounts receivable, which reached 434.967 million yuan, up 19.66% from 363.515 million yuan in 2024, indicating potential liquidity issues [1][3]. Cash Flow and Debt Management - The company’s cash assets improved significantly, with cash and cash equivalents rising to 3.099 billion yuan, an increase of 1129.58% from 252 million yuan in 2024 [1]. - The interest-bearing debt increased to 1.327 billion yuan, an increase of 86.57% from 711 million yuan in 2024, raising concerns about the company's debt levels [1][3]. - The operating cash flow per share was reported at -0.0 yuan, a decrease of 103.49% from 0.07 yuan in 2024, indicating cash flow challenges [1]. Shareholder and Capital Structure - The company completed a private placement of shares on June 27, 2025, raising a total of 2.852928 billion yuan, which will be used for debt repayment and working capital [4]. - Post-placement, the controlling shareholder, Shudao Group, increased its stake to 47.17%, maintaining its status as the controlling entity [4].

Core Viewpoint - Hongda Co., Ltd. has reported a decrease in the number of shareholders and an increase in average shareholding value, indicating a shift in investor sentiment despite a significant stock price increase during the same period [1][2]. Group 1: Shareholder Statistics - As of June 30, 2025, the number of shareholders for Hongda Co., Ltd. is 58,352, a decrease of 2,533 or 4.16% from March 31, 2025 [1][2]. - The average number of shares held per shareholder increased from 33,400 to 34,800 shares [1][2]. - The average market value of shares held per shareholder is 304,000 yuan, which is above the industry average of 260,300 yuan [1]. Group 2: Stock Price Performance - From March 31, 2025, to June 30, 2025, Hongda Co., Ltd. experienced a stock price increase of 21.93% [1][2]. - During this period, the net outflow of main funds was 213 million yuan, while speculative funds saw a net inflow of 170 million yuan, and retail investors contributed a net inflow of 4.33 million yuan [2].

Core Insights - The company Hongda Co., Ltd. (stock code: 600331.SH) reported its semi-annual results, showing a revenue of 1.811 billion yuan for the first half of 2025, which represents a year-on-year growth of 2.80% [1] - The net profit attributable to shareholders of the listed company was -74.9946 million yuan, indicating a significant year-on-year decline of 228.5% [1] Financial Performance - Revenue for the first half of 2025 reached 1.811 billion yuan, marking a 2.80% increase compared to the previous year [1] - The net profit attributable to shareholders was -74.9946 million yuan, reflecting a drastic decline of 228.5% year-on-year [1]

Group 1 - The core viewpoint of the report indicates that Hongda Co., Ltd. experienced a decline in net profit and profitability metrics in the first half of 2025, despite a slight increase in revenue [1][2] - The company's revenue for the first half of 2025 was 1.811 billion yuan, representing a year-on-year growth of 2.80% [1] - The net profit attributable to shareholders was -74.9946 million yuan, a year-on-year decrease of 228.54% [1] Group 2 - The basic earnings per share for the reporting period was -0.04 yuan, with a weighted average return on equity of -21.21% [2] - The price-to-earnings ratio (TTM) was approximately 5127.96 times, and the price-to-book ratio (LF) was about 81.32 times [2] - The gross margin for the first half of 2025 was 2.11%, down 7.97 percentage points year-on-year, while the net margin was -4.14%, a decrease of 7.45 percentage points compared to the same period last year [2] Group 3 - The company reported a total expense of 97.6966 million yuan for the period, a decrease of 14.7183 million yuan year-on-year, with an expense ratio of 5.39%, down 0.99 percentage points from the previous year [2] - The number of shareholders decreased to 58,400, a decline of 2,533 households or 4.16% from the previous quarter, while the average market value per household increased by 27.22% [2][3] - Hongda Co., Ltd. is primarily engaged in mining, non-ferrous metal smelting, and the production and sale of phosphate chemical products, with its main revenue sources being zinc metal and its by-products [3]

第十届监事会第十五次会议决议公告 本公司监事会及全体监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。 一、监事会会议召开情况 四川宏达股份有限公司（以下简称"公司"）第十届监事会第十五次会议通 知于 2025 年 8 月 18 日以邮件、电话等方式发出，于 2025 年 8 月 28 日 10:30 中海国际中心 H 座 14 楼会议室以现场结合视频通讯方式召开。会议由监事会主 席金代勇主持，应到监事 3 人，实到监事 3 人。其中监事邓佳因工作原因，无法 参加现场会议，以视频通讯方式参会并表决。本次会议的召集和召开符合《公司 法》等有关法律、行政法规、部门规章、规范性文件和《公司章程》的相关规定， 会议形成的决议合法、有效。 证券代码：600331 证券简称：宏达股份 公告编号：临 2025-073 四川宏达股份有限公司 3、在提出本意见前，未发现参与 2025 年半年度报告编制和审议的人员有违 反保密规定的行为。 表决结果：3 票同意，0 票反对，0 票弃权。 1 （二）审议通过了《关于宏达股份 2025 年半年度募集资金存放、管理与实 际使 ...

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。 证券代码：600331 证券简称：宏达股份 公告编号：临 2025-072 四川宏达股份有限公司 第十届董事会第二十一次会议决议公告 一、董事会会议召开情况 四川宏达股份有限公司（以下简称"公司"）第十届董事会第二十一次会议 通知于 2025 年 8 月 18 日以邮件、电话等方式发出，于 2025 年 8 月 28 日 10:00 在中海国际中心 H 座 14 楼会议室以现场结合通讯方式召开。会议由董事长乔胜 俊先生主持，应到董事 9 人，实到董事 9 人。其中董事王浩、张建，独立董事郑 亚光、李军因工作原因，无法参加现场会议，以视频通讯方式参会并表决。公司 监事和高管人员列席了本次会议。本次会议的召集和召开符合《公司法》等有关 法律、行政法规、部门规章、规范性文件和《公司章程》的相关规定，会议形成 的决议合法、有效。 二、董事会会议审议情况 表决结果：9 票同意，0 票反对，0 票弃权。 （一）审议通过了《宏达股份 2025 年半年度报告全文及摘要》 公司《2025 年半年度 ...

四川宏达股份有限公司 内部审计暂行管理办法 第一章 总 则 第一条 为规范四川宏达股份有限公司（以下简称宏达股 份）内部审计工作，建立健全内部审计工作制度，提升内部审计 工作质量，充分发挥内部审计作用，根据《中华人民共和国审计 法》《中华人民共和国审计法实施条例》《审计署关于内部审计工 作的规定》《四川省内部审计条例》《上海证券交易所上市公司自 律监管指引第1号——规范运作》等法律、法规、规范性文件， 以及四川省国资委的有关规定，结合宏达股份《章程》及实际， 制定本办法。 第二条 本办法适用于宏达股份本部及所属企业。本办法所 称所属企业，是指宏达股份全资、控股子公司和拥有实际控制权 的其他企业。 第三条 本办法所称内部审计，是指宏达股份内部审计机构 依据国家法律法规、财务会计制度和内部管理规定，以及中华人 民共和国审计署、中国证券监督管理委员会、国务院国有资产监 督管理委员会等有权机关的要求，对宏达股份及所属企业财务收 支、经营活动、内部控制和风险管理实施独立、客观的监督、评 价和建议，以提高公司的运作效率和经营管理水平，以促进公司 完善治理、增加价值和实现目标的活动。 — 1 — 第四条 内部审计工作的目的 ...

Financial Performance - For the first half of 2025, the company's operating revenue was approximately ¥1.81 billion, a 2.80% increase compared to ¥1.76 billion in the same period last year[22]. - The total profit for the first half of 2025 was a loss of approximately ¥74.93 million, a decrease of 224.44% compared to a profit of ¥60.22 million in the same period last year[22]. - The net profit attributable to shareholders was approximately -¥74.99 million, representing a 228.54% decrease from ¥58.34 million in the previous year[22]. - The net cash flow from operating activities was approximately -¥6.34 million, a decline of 104.54% compared to ¥139.61 million in the same period last year[22]. - The company's total assets increased by 130.94% to approximately ¥5.26 billion from ¥2.28 billion at the end of the previous year[22]. - The net assets attributable to shareholders increased by 708.62% to approximately ¥3.15 billion from ¥389.85 million at the end of the previous year[22]. - The company reported a net loss of RMB 23,078,359.62 from its subsidiary Sichuan Mianzhu, with total assets of RMB 722,687,167.80[87]. - The company reported a total of RMB 353,705,786.27 in related party transactions for the current period, within the approved limit of RMB 1,302,500,000.00[132]. Market Conditions - The average price of 0 zinc ingots fell by 13.03% from ¥25,860 per ton at the beginning of the year to ¥22,490 per ton by the end of June 2025[23]. - The sales price of synthetic ammonia decreased by 14.24% compared to the same period last year due to market influences[23]. - The average price of sulfur increased by 102.8% year-on-year, reaching an average of ¥2,155 per ton in the first half of 2025[23]. - The company reported significant losses in its zinc smelting and natural gas chemical businesses due to high production costs and declining market prices[23]. - The synthetic ammonia market faced pressure from weak demand and increased competition, leading to a downward trend in prices[35]. - The overall market conditions indicate a need for strategic adjustments to address the dual pressures of rising costs and weak demand across various product lines[31]. Operational Strategies - The company is focusing on expanding its market presence in the chemical and non-ferrous metal sectors, despite facing challenges from fluctuating raw material prices and demand[29]. - The company is exploring new strategies to enhance operational efficiency and mitigate the impact of external market pressures[29]. - The company is focusing on cost control and has implemented measures to reduce production costs through supply chain integration and procurement optimization[55]. - The company aims to enhance product competitiveness through performance upgrades and expand sales channels to improve brand influence[56]. - The company is enhancing its supply chain management and investing in R&D for high-efficiency compound fertilizers and specialty fertilizers to meet modern agricultural demands[95]. Financial Management - The company raised CNY 2.853 billion from issuing shares to its controlling shareholder, Shudao Group, on June 27, 2025, leaving approximately CNY 1.5 billion for self-development after debt repayment, significantly optimizing its asset-liability structure and enhancing liquidity[63]. - The asset-liability ratio decreased from 82.87% at the beginning of the year to 40.03%[60]. - The company reported a net cash inflow from financing activities of CNY 2,834,758,430.19 due to the issuance of new shares and an increase in bank loans[73]. - The company has improved the stability of its supply channels for key raw materials such as phosphate rock and sulfur, leveraging Shudao Group's annual cement consumption of nearly 10 million tons[64]. - The company has established a resource recycling system and industrial chain synergy through the integration of its phosphate chemical and zinc smelting businesses, enhancing energy efficiency and reducing costs[66]. Environmental and Safety Compliance - The company has achieved significant advancements in environmental governance, particularly in heavy metal pollution control and the comprehensive treatment of phosphogypsum, positioning itself as a leader in sustainable practices within the industry[69]. - The company’s subsidiaries are classified as high-risk in terms of safety and environmental protection, facing challenges in compliance with increasing regulatory standards[99]. - Sichuan Hongda's Shifang Phosphate Chemical Company has implemented a dual prevention mechanism for safety management, enhancing risk prevention and emergency response capabilities[102]. - The company has been recognized as an environmentally trustworthy enterprise and has achieved safety production standardization ratings of level two and three for its chemical and nonferrous metal operations, respectively[103][104]. Shareholder and Corporate Governance - The company has committed to resolving competition issues with Hongda Co. within five years through asset restructuring, business adjustments, and management delegation, ensuring the development of the listed company and protecting the interests of shareholders, especially minority shareholders[115]. - The company will maintain business independence, personnel independence, asset integrity, financial independence, and institutional independence after the completion of the equity change, in compliance with the regulations of the China Securities Regulatory Commission[115]. - The company has confirmed that the funds for the acquisition are sourced entirely from its own or self-raised funds, ensuring compliance with relevant laws and regulations[116]. - The company will adhere to the information disclosure obligations and necessary internal approval procedures as per relevant laws and regulations[116]. - The company has not disclosed any significant events or changes in shareholder structure beyond the share issuance[151]. Future Outlook - The company plans to continue expanding its market presence, focusing on new product development and technological advancements[185]. - Future guidance indicates a focus on increasing operational efficiency and exploring potential mergers and acquisitions to enhance market position[185]. - The company plans to increase exploration investment in the Duolong West Copper Mine in 2025, with 90% of this year's fieldwork already completed[83].

根据《企业会计准则第 22 号-金融工具确认和计量》及公司会计政策的相关 证券代码：600331 证券简称：宏达股份 公告编号：临 2025-075 四川宏达股份有限公司 关于 2025 年半年度计提信用减值准备和资产减值准备的 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。 四川宏达股份有限公司（以下简称"公司"）于 2025 年 8 月 28 日召开第十 届董事会第二十一次会议，审议通过了《关于宏达股份 2025 年半年度计提信用 减值准备和资产减值准备的议案》，该议案无需提交公司股东会审议。现将相关 情况公告如下： 一、本次计提减值准备概述 根据《企业会计准则》《上海证券交易所股票上市规则》等相关规定，为更 真实、准确、客观地反映公司截至 2025 年 6 月 30 日财务状况和 2025 年半年度 经营成果，基于谨慎性原则，对公司及下属子公司截至 2025 年 6 月 30 日合并报 表范围内存在减值迹象的资产进行了减值测试，并对其中存在减值迹象的资产相 应计提了减值准备，2025 年半年度公司相关资产计提信用减 ...

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。 四川宏达股份有限公司(以下简称"公司")根据上海证券交易所《上市公 司自律监管指引第 3 号—行业信息披露》附件《第十三号——化工》的相关要求， 现将公司 2025 年第二季度主要经营数据披露如下： 二、主要产品和原材料的价格变动情况 （一）主要产品的价格变动情况（不含税） （二）主要原材料的价格变动情况（不含税） 1 一、主要产品的产量、销量及收入实现情况 主要产品 2025 年 4-6 月 产量（吨） 2025 年 4-6 月 销量（吨） 2025 年 4-6 月 营业收入（万元） 磷酸盐系列产品 107,567.95 88,229.05 33,061.27 复合肥 29,000.34 33,819.99 9,136.58 单位：元/吨 主要产品 2025 年 4-6 月平均售价 2024 年 4-6 月平均售价 2025 年 1-3 月平均售价 同比变动 比率 环比变动 比率 磷酸盐系列产品 3747 3649 3545 2.69% 5.70% 复合肥 2702 2573 ...