股票代码：600423 股票简称：柳化股份 公告编号：2025-038 柳州化工股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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： ●会议问题征集：投资者可于 2025 年 09 月 04 日前访问网址 https://eseb.cn/1qWtNkXblcI 或使用微 信扫描下方小程序码进行会前提问，公司将在说明会上对投资者普遍关心的问题进行回答。 柳州化工股份有限公司（以下简称"公司"）已于 2025 年 8 月 22 日在《上海证券报》及上海证券交易 所网站（www.sse.com.cn）披露了公司 2025 年半年度报告及其摘要，为便于广大投资者更全面深入地了解 公司 2025 年半年度经营成果、财务状况，公司计划于 2025 年 9 月 4 日（星期四） 15:00-16:00 举行 2025 年半年度业绩说明会，就投资者关心的问题进行交流。 一、 说明会类型 本次业绩说明会以网络互动形式召开，公司将针对 2025 年半年度的经营成果及财务指标的具 ...

Core Viewpoint - Liu Hua Co., Ltd. reported a significant decline in net profit and revenue for the first half of 2025, indicating financial distress and operational challenges [1]. Financial Performance Summary - The total operating revenue for the first half of 2025 was 67.98 million yuan, a decrease of 7.45% compared to 2024 [1]. - The net profit attributable to shareholders was 3.44 million yuan, down 78.01% year-on-year [1]. - The gross profit margin fell to 6.22%, a decrease of 70.71% from the previous year [1]. - The net profit margin also declined to 5.06%, down 76.23% year-on-year [1]. - The total of selling, administrative, and financial expenses was -1.05 million yuan, with a year-on-year increase of 31.74% [1]. Cash Flow and Financial Ratios - The net cash flow from operating activities decreased by 79.46%, attributed to reduced cash receipts from product sales and the resolution of a previous court case [3][4]. - The return on invested capital (ROIC) for the previous year was 3.1%, indicating weak capital returns [4]. - The company has experienced four years of losses since its listing, suggesting a generally poor financial performance history [4]. Changes in Key Financial Items - Accounts receivable increased by 37.83% due to higher credit sales during the reporting period [3]. - The company’s cash and cash equivalents increased by 3.36% to 421 million yuan [1]. - The company’s interest-bearing liabilities rose by 62.61% to 464,200 yuan [1]. Investment and Financing Activities - The net cash flow from investing activities increased by 73.68%, reflecting reduced cash payments for construction projects compared to the previous year [4]. - The net cash flow from financing activities decreased by 77.03%, primarily due to increased rental expenses for land and buildings [4].

Core Points - The company has released its semi-annual report, emphasizing the importance of reviewing the full report for a comprehensive understanding of its operational results, financial status, and future development plans [1] - The board of directors and senior management have confirmed the authenticity, accuracy, and completeness of the report, taking legal responsibility for its content [1] - The report indicates that there are no significant changes in the company's operational situation or any major events that could impact its future performance [1] Company Overview - The company is identified as Liuzhou Chemical Co., Ltd., with stock code 600423 and stock abbreviation Liuhua Shares [1] - The report includes key financial data, although specific figures are not disclosed in the provided text [1] - There is no change in the controlling shareholder or actual controller during the reporting period [1] Important Matters - The company has not reported any significant changes in its operational situation during the reporting period [1] - There are no major events that have occurred or are expected to occur that would significantly impact the company's operations [1] Second Quarter Data - The company has disclosed its main operational data for the second quarter of 2025, although specific figures regarding product output, sales, and revenue are not provided in the text [2] - The announcement includes information on price changes for major products and raw materials, but specific data is not detailed [2] - The data presented is unaudited, and investors are advised to use caution [2]

Growth - Teva Pharmaceutical reported a net profit of 38.01 million yuan in the first half of the year, a year-on-year increase of 1313.23% [1] - Qianfang Technology achieved a net profit of 170 million yuan, up 1287.12% year-on-year [1] - Tianyu Digital Science and Technology recorded a net profit of 23.62 million yuan, reflecting a 453.67% increase [1] - Suzhou Gude reported a net profit of 43.70 million yuan, up 310.28% year-on-year [1] - Sainuo Medical achieved a net profit of 13.84 million yuan, an increase of 296.54% [1] - Runfeng Co., Ltd. reported a net profit of 556 million yuan, up 205.62% year-on-year [1] - Guodian Nanzi achieved a net profit of 159 million yuan, reflecting a 197.03% increase [1] - Ruijie Networks reported a net profit of 452 million yuan, up 194% year-on-year [1] - Zhongjing Technology achieved a net profit of 25.74 million yuan, an increase of 144.05% [1] - China National Materials Technology reported a net profit of 999 million yuan, up 114.92% year-on-year [1] - Lante Optics achieved a net profit of 103 million yuan, reflecting a 110.27% increase [1] - Yidao Information reported a net profit of 11.41 million yuan, up 96.02% year-on-year [1] - Qianzhao Optoelectronics achieved a net profit of 69.23 million yuan, an increase of 88.04% [1] - Ruile New Materials reported a net profit of 166 million yuan, up 74.22% year-on-year [1] - Lvtian Machinery achieved a net profit of 140 million yuan, reflecting a 64.36% increase [1] - Mega Chip Color reported a net profit of 110 million yuan, up 48.83% year-on-year [1] - Jiaojian Co., Ltd. achieved a net profit of 113 million yuan, an increase of 48.66% [1] - Huhua Electronics reported a net profit of 1.683 billion yuan, up 47.50% year-on-year [1] - Sany Heavy Industry achieved a net profit of 5.216 billion yuan, reflecting a 46% increase [1] - Goodix Technology reported a net profit of 431 million yuan, up 35.74% year-on-year [1] - Allwinner Technology achieved a net profit of 161 million yuan, an increase of 35.36% [1] - Bichu Electronics reported a net profit of 640 million yuan, up 30.32% year-on-year [1] - Ganneng Co., Ltd. achieved a net profit of 438 million yuan, reflecting a 29.39% increase [1] - Weigao Medical reported a net profit of 492 million yuan, up 28.07% year-on-year [1] - GoerTek achieved a net profit of 1.417 billion yuan, reflecting a 15.65% increase [1] - Huason Pharmaceutical reported a net profit of 53.95 million yuan, up 14.27% year-on-year [1] - Gaoxin Development achieved a net profit of 66.92 million yuan, an increase of 14.06% [1] - Shanghai Jahwa reported a net profit of 266 million yuan, up 11.66% year-on-year [1] Stable Growth - Hangcha Group reported a net profit of 1.121 billion yuan, reflecting an increase of 11.38% year-on-year [2] - Dong'e Ejiao achieved a net profit of 818 million yuan, up 10.74% [2] - Beikong Technology reported a net profit of 54.31 million yuan, an increase of 10.59% [2] - Hongxin Electronics achieved a net profit of 53.99 million yuan, up 9.85% year-on-year [2] - Huace Testing reported a net profit of 467 million yuan, reflecting a 7.03% increase [2] - Samsung Medical achieved a net profit of 1.230 billion yuan, up 6.93% year-on-year [2] - Jiangzhong Pharmaceutical reported a net profit of 522 million yuan, reflecting a 5.80% increase [2] - Hualing Cable achieved a net profit of 63.64 million yuan, up 4.74% year-on-year [2] - Kuaijishan reported a net profit of 93.88 million yuan, reflecting a 3.41% increase [2] - Laishen Tongling achieved a net profit of 60.61 million yuan, turning from loss to profit [2] - Yunnan Geology reported a net profit of 22.15 million yuan, turning from loss to profit [2] - Shandong Steel achieved a net profit of 1.253 million yuan, turning from loss to profit [2] Decline and Loss - Zhongtian Rocket reported a net profit of 394,460 yuan, a year-on-year decrease of 80.74% [2] - Liuhua Co., Ltd. achieved a net profit of 344,280 yuan, down 78.01% year-on-year [2] - Qiaqia Food reported a net profit of 886.42 million yuan, a decrease of 73.68% [2] - Hangjin Technology achieved a net profit of 1.372 million yuan, down 58.38% year-on-year [2] - Taiping Bird reported a net profit of 7.771 million yuan, a decrease of 54.61% [2] - Canadian Solar reported a net profit of 731 million yuan, down 41.01% year-on-year [2] - Sinopec achieved a net profit of 21.483 billion yuan, a decrease of 39.8% [2] - Fulejia reported a net profit of 230 million yuan, down 32.54% year-on-year [2] - Palin Bio reported a net profit of 236 million yuan, down 27.89% [2] - Yiwei Lithium Energy achieved a net profit of 1.605 billion yuan, down 24.9% year-on-year [2] - Jinguang Electric reported a net profit of 42.34 million yuan, down 17.16% [2] - Hexing Co., Ltd. achieved a net profit of 107 million yuan, down 16.98% year-on-year [2] - Electric Investment Production and Financing reported a net profit of 459 million yuan, down 13.41% [2] - Tiantan Biological achieved a net profit of 633 million yuan, down 12.88% year-on-year [2] - Huali Group reported a net profit of 1.671 billion yuan, down 11.06% [2] - Zhongyou Engineering achieved a net profit of 470 million yuan, down 10.87% year-on-year [2] Further Losses - Chongda Technology reported a net profit of 222 million yuan, down 6.19% year-on-year [3] - Xinhua Department Store achieved a net profit of 86.01 million yuan, down 2.52% [3] - Zhuosheng Micro reported a net loss of 147 million yuan, turning from profit to loss [3] - Penghui Energy reported a net loss of 88.23 million yuan, turning from profit to loss [3] - Yipin Hong reported a net loss of 73.54 million yuan, turning from profit to loss [3] - Zhongbing Hongjian reported a net loss of 40.71 million yuan, turning from profit to loss [3] - Sanwei Xinan reported a net loss of 29.39 million yuan, turning from profit to loss [3] - Anyuan Coal reported a net loss of 290 million yuan [3] - Keda Xunfei reported a net loss of 239 million yuan [3] - Jishi Media reported a net loss of 23.2 million yuan [3] - Nanjing Chemical Fiber reported a net loss of 88.93 million yuan [3] - Guangsheng Tang reported a net loss of 66.69 million yuan [3] - Chutian Long reported a net loss of 39.77 million yuan [3]

Group 1 - The stock price of Liu Hua Co., Ltd. closed at 3.82 yuan on August 21, 2025, with an increase of 0.03 yuan, representing a rise of 0.79% [1] - The company reported a revenue of 67.9762 million yuan for the first half of 2025, a year-on-year decrease of 7.45% [1] - The net profit attributable to shareholders was 3.4428 million yuan, down 78.01% year-on-year, primarily due to weak market demand for hydrogen peroxide and a price drop of 18.52% [1] Group 2 - The company's main business involves the production and sale of chemical products, including hydrogen peroxide, and it is part of the chemical raw materials sector [1] - On August 21, 2025, the net outflow of main funds was 6.5011 million yuan, with a cumulative net outflow of 21.379 million yuan over the past five days [1]

Core Insights - The company reported a revenue of 67.9762 million yuan for the first half of 2025, representing a year-on-year decline of 7.45% [1] - The net profit attributable to shareholders was 3.4428 million yuan, down 78.01% compared to the previous year [1] - The basic earnings per share stood at 0.004 yuan [1] Revenue and Profit Analysis - The decline in revenue and profit is primarily attributed to the continued weak demand in the hydrogen peroxide market [1] - The ex-factory price of 27.5% hydrogen peroxide decreased by 18.52% year-on-year, significantly impacting the company's profitability [1] - The gross margin decreased by 18.73 percentage points year-on-year, resulting in only a marginal profit [1]

Group 1 - The company disclosed its main operational data for the second quarter of 2025, including production, sales, and revenue figures for its key products [1] - The average selling price of major products and the percentage change in prices were reported, indicating market trends [1] - The company provided information on the price changes of key raw materials, specifically hydrogen, which remained stable with no percentage change [1]

Core Viewpoint - The report highlights a significant decline in the financial performance of Liuzhou Chemical Industry Co., Ltd. for the first half of 2025, primarily due to a persistent downturn in the demand and pricing of hydrogen peroxide products, leading to a substantial drop in revenue and profit margins [2][4][6]. Company Overview and Financial Indicators - The company reported a total revenue of approximately 67.98 million yuan, a decrease of 7.45% compared to the same period last year [2][4]. - The total profit for the period was approximately 4.31 million yuan, reflecting a dramatic decline of 72.51% year-on-year [2][4]. - The net profit attributable to shareholders was approximately 3.44 million yuan, down 78.01% from the previous year [2][4]. - The net cash flow from operating activities decreased by 79.46%, amounting to approximately 8.70 million yuan [2][4]. Business Operations and Market Conditions - The main product of the company is hydrogen peroxide, which is produced using a fixed-bed palladium catalyst process [3][4]. - The average price of 27.5% hydrogen peroxide was reported at 773 yuan per ton, a decrease of 18.52% compared to the previous year, while the average price of 50% hydrogen peroxide fell by 20.91% [3][4]. - The overall production capacity in the hydrogen peroxide industry remained low, with the average profit margin for Chinese hydrogen peroxide producers reported at -68 yuan per ton, a significant drop from 121 yuan per ton in the previous year [3][4]. Financial Performance Analysis - The company's gross margin decreased by 18.73 percentage points, indicating a challenging pricing environment [3][4]. - The company’s total assets were approximately 602.15 million yuan, showing a slight increase of 0.83% from the previous year [2][4]. - The net assets attributable to shareholders were approximately 551.55 million yuan, reflecting a minor increase of 0.68% [2][4]. Strategic Initiatives and Market Development - The company is actively developing the high-purity hydrogen peroxide market and has successfully entered the supply chain of leading photovoltaic companies in South China [4]. - Efforts are being made to enhance product quality and customer service, particularly in the food industry, to establish business relationships with clients in Guangdong and Hunan [4]. - The company is focusing on expanding its sales channels and improving its marketing strategies to adapt to market dynamics [4][5].

Group 1 - The core viewpoint of the report indicates a significant decline in the company's financial performance, with a notable drop in net profit and revenue compared to the previous year [1][2] - The company's net profit attributable to shareholders decreased by 72.51% to approximately 15.66 million yuan, while the operating income fell by 7.45% to around 73.45 million yuan [1][2] - The basic earnings per share (EPS) also saw a decline, reported at 0.004 yuan per share, down from 0.019 yuan per share, reflecting a decrease of 78.95% [2] Group 2 - The total assets of the company at the end of the reporting period were approximately 607.16 million yuan, showing a slight increase compared to the previous year [1] - The weighted average return on net assets was reported at 0.020, indicating a significant drop of 80% compared to the previous period [2] - The number of shareholders as of the reporting period was 27,961, which may indicate a stable shareholder base despite the financial downturn [2]

Core Viewpoint - Liu Hua Co., Ltd. (600423.SH) reported a decline in both revenue and net profit for the first half of 2025, indicating potential challenges in its financial performance [1] Financial Performance - The company achieved operating revenue of 67.9762 million yuan, a year-on-year decrease of 7.45% [1] - The net profit attributable to shareholders was 3.4428 million yuan, reflecting a significant year-on-year decline of 78.01% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 3.1989 million yuan, down 78.97% year-on-year [1] - Basic earnings per share were reported at 0.004 yuan [1]