华纺股份有限公司 2025 年半年度报告 公司代码：600448 公司简称：华纺股份 华纺股份有限公司 2025 年半年度报告 1 / 132 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的未来计划、发展战略等前瞻性描述不构成公司对投资者的实质承诺，敬请投资者 注意投资风险。 华纺股份有限公司 2025 年半年度报告 重要提示 一、 本公司董事会及董事、高级管理人员保证半年度报告内容的真实性、准确性、完整性，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人盛守祥、主管会计工作负责人闫英山及会计机构负责人（会计主管人员）刘水超 声明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、 重大风险提示 公司已在本年度报告中详细描述公司 ...

Group 1 - The Shanghai Composite Index closed at 3591.26 points, with a decline of 0.68%, and the total trading volume of A-shares reached 1,157.801 billion yuan [1] - A total of 79 A-shares experienced a death cross, where the 5-day moving average fell below the 10-day moving average [1] - The stocks with the largest distance between the 5-day and 10-day moving averages included Zhejiang Dongri at -1.23%, Yaopi Glass at -1.16%, and Beijing Keri at -1.02% [1] Group 2 - Specific stocks showing a death cross include: - Zhejiang Dongri (code: 600113) with a price of 28.35 yuan, down 3.17% [1] - Yaopi Glass (code: 600819) with a price of 6.37 yuan, down 2.00% [1] - Beijing Keri (code: 002350) with a price of 6.95 yuan, down 0.57% [1] - Other notable stocks with similar patterns include: - Botao Biological (code: 688767) at 32.71 yuan, down 3.58% [1] - Dayou Energy (code: 600403) at 3.80 yuan, down 2.81% [1] - Sanor Biological (code: 300298) at 21.08 yuan, down 0.66% [1]

[Current Period Performance Forecast](index=1&type=section&id=I.%20Current%20Period%20Performance%20Forecast) The company anticipates a net loss for the first half of 2025, with attributable net profit projected between -40 million CNY and -34 million CNY 2025 Semi-Annual Performance Forecast | Item | Estimated Amount (CNY) | | :--- | :--- | | Net Profit Attributable to Parent Company Shareholders | -40 million CNY to -34 million CNY | | Net Profit Attributable to Parent Company Shareholders After Deducting Non-Recurring Gains and Losses | -41 million CNY to -35 million CNY | - These performance forecast figures are unaudited by a certified public accountant[4](index=4&type=chunk) [Operating Performance and Financial Status in the Same Period Last Year](index=1&type=section&id=II.%20Operating%20Performance%20and%20Financial%20Status%20in%20the%20Same%20Period%20Last%20Year) In contrast to the current period's projected loss, the company achieved profitability in H1 2024, with attributable net profit of 0.8361 million CNY 2024 Semi-Annual Performance Review | Item | Amount (CNY) | | :--- | :--- | | Total Profit | 1.3919 million CNY | | Net Profit Attributable to Parent Company Shareholders | 0.8361 million CNY | | Net Profit Attributable to Parent Company Shareholders After Deducting Non-Recurring Gains and Losses | 0.1371 million CNY | | Earnings Per Share | 0.002 CNY | [Main Reasons for Current Period's Pre-Loss](index=1&type=section&id=III.%20Main%20Reasons%20for%20Current%20Period%27s%20Pre-Loss) The 2025 first-half loss is attributed to US tariff impacts, intensified domestic competition, and significant RMB exchange losses - US tariff policies significantly impacted foreign trade sales orders, leading to a substantial decrease in product prices[6](index=6&type=chunk) - Intensified domestic market competition poses challenges to the company's operations[6](index=6&type=chunk) - RMB exchange rate fluctuations resulted in significant exchange losses[6](index=6&type=chunk) [Risk Warning](index=1&type=section&id=IV.%20Risk%20Warning) This performance forecast is a preliminary, unaudited estimate by the finance department, with no material uncertainties identified - This performance forecast is a preliminary estimate by the company's finance department and has not been audited by a certified public accountant[8](index=8&type=chunk) - The company assesses that there are no significant uncertainties affecting the accuracy of this performance forecast[8](index=8&type=chunk) [Other Explanatory Matters](index=2&type=section&id=V.%20Other%20Explanatory%20Matters) The disclosed forecast data is preliminary; final figures will be in the 2025 semi-annual report, advising investors of risks - The forecast data represents preliminary calculations, and the precise financial figures will be based on the company's officially disclosed 2025 semi-annual report[9](index=9&type=chunk) - Investors are advised to be aware of investment risks[9](index=9&type=chunk)

Core Insights - The textile fiber fabric industry is crucial for manufacturing fabrics and garments, divided into natural fiber fabrics and chemical fiber fabrics [3][5] - In 2024, China's cotton textile industry is projected to generate revenue of 1,141.86 billion yuan, accounting for 61.40% of the textile industry, while the chemical textile industry is expected to generate 247.88 billion yuan, representing 13.33% [6][8] - The development of the textile fabric industry is increasingly focused on functionality and environmental sustainability, with the application of new fibers and technologies expanding [22] Industry Definition and Classification - Textile fiber fabrics are elongated materials used for making fabrics and garments, categorized into natural fiber fabrics and chemical fiber fabrics [3] - Natural fibers are favored for their environmental friendliness and comfort, while chemical fibers are essential for their strength and durability [3] Current Development Status - The textile industry has evolved significantly since the Neolithic era, reflecting advancements in technology, art, culture, and economy [5] - The industrial revolution greatly enhanced production efficiency and quality, with cotton becoming a key textile raw material [5] - The 21st century presents new challenges and opportunities, emphasizing sustainable practices and the emergence of innovative materials like nanofibers and smart textiles [5] Industry Chain Structure - The textile fabric industry chain consists of upstream natural fibers (cotton, linen, silk, wool) and chemical fibers (polyester, nylon), midstream fabric production, and downstream applications in clothing, home textiles, and industrial textiles [10] Market Size and Growth - The market size for industrial textiles in China is projected to reach 332.44 billion yuan in 2024, with total industry output valued at 597.74 billion yuan [14] - The silk industry is expected to generate approximately 76.59 billion yuan in revenue in 2024, with a year-on-year growth of 5.75% [12] Competitive Landscape - The textile fabric industry in China is characterized by a diverse and fragmented competitive landscape, with key players including Zhejiang Xin'ao Textile Co., Ltd., Hengli Petrochemical Co., Ltd., and others [16] - Major companies are focusing on product innovation and sustainability, with significant investments in technology and brand development [18] Future Trends - The development of textile fabrics is increasingly influenced by new materials and technologies, emphasizing diversification, functionality, lightweight, and environmental sustainability [22] - The industry is expected to continue evolving to meet consumer demands for high-quality, eco-friendly products [22]

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： 证券代码：600448 证券简称：华纺股份 公告编号：2025-023 华纺股份有限公司 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 | 635 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 122,774,531 | | 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（%） | 19.49 | (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。 会议以现场表决与网络投票相结合的方式召开，由董事长盛守祥主持,符合《公 司法》及《公司章程》的规定。 (五)公司董事、监事和董事会秘书的出席情况 二、议案审议情况 (一)非累积投票议案 表决情况： (一) 股东大会召开的时间：2025 年 6 月 27 日 (二) 股东大会召开的地点：山东省滨州市东海一路 118 号华纺股份有限公司。 (三) 出席会议 ...

国浩律师（北京）事务所 关 于 华纺股份有限公司 2024 年年度股东大会 之 法律意见书 北京/上海/深圳/杭州/广州/昆明/天津/成都/宁波/福州/西安/南京/南宁/济南/重庆/苏州/长沙/太原/武汉/贵阳 乌鲁木齐/郑州/石家庄/合肥/海南/青岛/南昌/大连/银川/香港/巴黎/马德里/斯德哥尔摩/纽约/马来西亚/柬埔寨 地址：北京市朝阳区东三环北路38号泰康金融大厦9层 邮编：100026 电话：010-65890699 传真：010-65176800 电子信箱：grandallbj@grandall.com.cn 网址：http://www.grandall.com.cn 2025 年 6 月 国浩律师（北京）事务所 法律意见书 国浩律师（北京）事务所 关于华纺股份有限公司 2024 年年度股东大会 之 法律意见书 国浩京证字[2025]第 0371 号 国浩律师（北京）事务所（简称"本所"）接受华纺股份有限公司（简称"公 司"或"上市公司"）的委托，指派赵清律师、董靖政律师（简称"本所律师"） 见证公司 2025 年 6 月 27 日召开的 2024 年年度股东大会（简称"本次股东大会" 或"本次会 ...

Group 1 - The company will hold its 2024 annual general meeting on June 27, 2025, with both on-site and online voting options available [1][2] - The meeting will be presided over by Chairman Sheng Shouxiang, and will include shareholders, directors, supervisors, and legal representatives [1][2] Group 2 - The company reported a total revenue of 293,438.66 million yuan for the reporting period, representing a year-on-year increase of 4.89% [3] - The company experienced a net loss attributable to shareholders of 5,551.55 million yuan, marking a shift from profit to loss compared to the previous year [3][19] Group 3 - The board of directors emphasized a strategic focus on "enterprise reconstruction" to enhance operational efficiency and competitiveness in a challenging market environment [3][4] - The company aims to optimize its organizational structure and clarify departmental responsibilities to improve collaboration and reduce operational costs [4][5] Group 4 - The company has introduced a new "three-level nine-grade" salary performance evaluation system to align employee compensation with their contributions [7] - The establishment of Huafang Business School aims to cultivate talent and enhance the company's innovation capabilities [7] Group 5 - The company faces significant challenges due to rising trade barriers and geopolitical tensions, which are impacting its export markets [12][13] - The introduction of a global equivalent tariff policy by the U.S. government is expected to increase the tax burden on Chinese textile exports, leading to reduced orders and profit margins [12][13] Group 6 - The company plans to focus on enhancing product quality, expanding market reach, and fostering technological innovation to adapt to changing market conditions [13] - The company aims to transform from a cost-dependent model to one focused on value creation, supported by government policies and industry self-initiatives [13] Group 7 - The company has proposed not to distribute profits for the 2024 fiscal year due to accumulated losses exceeding the total paid-in capital [19][20] - The company is committed to improving its financial performance and addressing its losses through strategic management and operational efficiency [20][21] Group 8 - The company has approved mutual guarantees with Binhai Printing Group for a total amount of 100 million yuan, which can be adjusted between the two entities [25][28] - The company is also providing guarantees for its subsidiaries totaling 130 million yuan to support their financing needs [28][29]

华纺股份有限公司 2024 年年度股东大会材料 二○二五年六月 华纺股份有限公司 2024 年年度股东大会议程 | 时间 | 现场会议：2025 年 6 月 27 日 14:00 开始 | | | --- | --- | --- | | | 网络投票：2025 年 6 月 27 日 9:15-15:00 | | | 地点 | 山东省滨州市东海一路 118 号华纺股份有限公司 | | | 人员 | 公司股东、董事出席，监事、高管人员、律师列席 | | | 主持人 | 盛守祥董事长 | | | 会议内容 | | 备注 | | 1 | 主持人宣布会议开始 | | | 2 | 汇报本次会议召集及出席情况 | | | 3 | 选举计票人、监票人 | | | 4 | 宣读议案 | | | 4-1 | 董事会 2024 年工作报告 | | | 4-2 | 监事会 2024 年工作报告 | | | 4-3 | 公司 2024 年度利润分配预案 | | | 4-4 | 关于未弥补亏损达实收股本总额三分之一的议案 | | | 4-5 | 公司 2024 年年度报告全文及摘要 | | | 4-6 | 关于聘任 2025 年财务审计 ...

Group 1 - The A-share textile and apparel sector weakened in the afternoon session [1] - *ST Bosen hit the daily limit down, indicating significant market pressure [1] - Other companies such as Huafang Co., Kanglongda, Yingfeng Co., ST Qibu, Annai'er, and Bangjie also experienced declines [1]

Core Viewpoint - The article discusses the evolution and current policies of China's textile industry, emphasizing the government's support for digital transformation, quality improvement, and sustainable development to enhance the industry's global competitiveness and achieve the goals of becoming a manufacturing and quality powerhouse [1][3]. Policy Evolution - During the "11th Five-Year Plan," the focus was on increasing the technological content and brand proportion in the textile industry, promoting high-tech and environmentally friendly fibers, and expanding the use of non-cotton natural fibers [1]. - The "12th Five-Year Plan" emphasized environmental protection, quality safety, and brand building within the light textile industry [1]. - The "13th Five-Year Plan" aimed to consolidate China's advantages in textile manufacturing and international trade, establishing the country as a textile powerhouse [1]. - The "14th Five-Year Plan" seeks to elevate the textile industry to a higher position in the global value chain, contributing to the goals of becoming a manufacturing and quality strong nation [1]. National Policy Summary and Interpretation - Recent national policies, such as the "Three-Year Action Plan for Digital Transformation of the Textile Industry (2022-2024)" and the "Implementation Plan for Quality Improvement and Upgrading of the Textile Industry (2023-2025)," provide a favorable macro environment and policy support for the industry's development [3][4]. - These policies aim to promote healthy and rapid development across various segments of the textile supply chain and enhance the industry's global competitiveness [3]. Key Policy Details - The "Implementation Plan" outlines goals for 2025, including: - R&D expenditure intensity of 1.3% for large-scale textile enterprises [8]. - 70% of large-scale textile enterprises achieving digital networking [8]. - Reduction in energy and water consumption per unit of industrial added value, along with continuous decreases in major pollutant emissions [8]. - Improvement in the quality and scale of recycled textile products, aiming to establish 20 globally recognized brands [8]. Key Tasks and Focus Areas - Accelerate innovation-driven development and enhance independent innovation capabilities by focusing on key technology breakthroughs and establishing industry innovation platforms [9]. - Promote high-end manufacturing in textiles and expand the application of functional chemical fibers across various sectors of the economy [9]. - Develop smart manufacturing and improve industry quality and efficiency through the adoption of digital technologies [9]. - Advance green and circular low-carbon development by promoting energy-saving and pollution-reducing technologies [9]. - Enhance the resilience of the supply system to meet and lead fashion consumption upgrades [9]. - Optimize regional industrial layouts and foster open cooperation within the textile industry [9]. Provincial Policy Summary - Various provinces have introduced policies to support the development of the textile industry, focusing on high-quality growth, digital transformation, and the promotion of environmentally friendly materials [12][14]. - For example, Guangdong aims to enhance the digital transformation of its textile industry by 2025, achieving over 60% integration of digital technologies [16].