Core Viewpoint - Fengzhu Textile (600493) reported a decline in total revenue for the first half of 2025, but an increase in net profit, indicating improved profitability despite lower sales [1] Financial Performance Summary - Total revenue for the first half of 2025 was 426 million yuan, a decrease of 7.63% year-on-year [1] - Net profit attributable to shareholders was 7.95 million yuan, an increase of 31.77% year-on-year [1] - In Q2 2025, total revenue was 233 million yuan, down 7.99% year-on-year, while net profit was 5.12 million yuan, up 19.42% year-on-year [1] - Gross margin increased by 11.8% to 13.57%, and net margin rose by 42.65% to 1.86% [1] - Total expenses (selling, administrative, and financial) amounted to 34.36 million yuan, accounting for 8.06% of revenue, an increase of 13.74% year-on-year [1] Key Financial Ratios - Earnings per share (EPS) increased by 31.53% to 0.03 yuan [1] - Operating cash flow per share rose by 44.73% to 0.08 yuan [1] - Net asset value per share increased by 3.25% to 4.10 yuan [1] Business Evaluation - The company's return on invested capital (ROIC) was 4.24% last year, indicating weak capital returns [1] - Historical data shows a median ROIC of 3.71% over the past decade, with the lowest ROIC recorded at 2.81% in 2015 [1] - The company has reported a total of 20 annual reports since its listing, with one year of losses, suggesting a need for further investigation into underlying causes [1]

Core Insights - Fengzhu Textile (600493.SH) reported a revenue of 426 million yuan for the first half of 2025, representing a year-on-year decrease of 7.63% [1] - The net profit attributable to shareholders of the listed company was 7.9467 million yuan, showing a year-on-year increase of 31.77% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 2.5886 million yuan, reflecting a year-on-year decline of 45.85% [1] - The basic earnings per share stood at 0.0292 yuan [1]

Group 1 - The semi-annual report summary is derived from the full semi-annual report, and investors are encouraged to read the complete report for a comprehensive understanding of the company's operating results, financial status, and future development plans [1] - The board of directors, supervisory board, and senior management guarantee the authenticity, accuracy, and completeness of the semi-annual report, and they bear individual and joint legal responsibilities for any false records, misleading statements, or significant omissions [1] - The report has not been audited [1] Group 2 - There are no profit distribution plans or capital reserve conversion plans approved by the board of directors for the reporting period [2] - The report includes basic company information and major financial data, but specific figures are not provided in the excerpt [2] - There are no significant changes in the company's operating conditions or major events that could impact the company's operations during the reporting period [2]

Core Viewpoint - Fujian Fynex Textile Science & Technology Co., Ltd. reported a decrease in revenue for the first half of 2025, primarily due to insufficient downstream demand, while net profit increased significantly compared to the previous year, indicating improved operational efficiency despite revenue challenges [2][9]. Company Overview and Financial Indicators - Company Name: Fujian Fynex Textile Science & Technology Co., Ltd. [2] - Stock Code: 600493 [2] - Total Revenue: CNY 426.39 million, a decrease of 7.63% compared to CNY 461.60 million in the same period last year [7][9]. - Total Profit: CNY 9.43 million, an increase of 46.59% from CNY 6.43 million [7][9]. - Net Profit Attributable to Shareholders: CNY 7.95 million, up 31.77% from CNY 6.03 million [7][9]. - Basic Earnings Per Share: CNY 0.0292, an increase of 31.53% from CNY 0.0222 [7][9]. - Total Assets: CNY 1.74 billion, an increase of 4.81% from CNY 1.66 billion [7][9]. Industry and Business Analysis - The company operates in the textile industry, focusing on the production and processing of knitted and woven fabrics, dyeing, spinning, and printing [3][5]. - Main product categories include knitted grey fabrics, finished knitted fabrics, and colored yarns, primarily used for children's clothing, sportswear, and high-end garments [3][5]. - The company positions itself in the mid-to-high-end market, with a stable operational performance throughout the year, despite some seasonal fluctuations [3][5]. Operational Strategies and Developments - The company has implemented a sales-driven production model, optimizing inventory management and reducing procurement costs through long-term supplier relationships [4][5]. - Emphasis on brand development and marketing management to enhance product quality and customer satisfaction [8]. - Continuous investment in advanced technology and equipment to improve production efficiency and product quality [8][9]. Challenges and Responses - The textile industry faces challenges such as rising costs, intense competition, and fluctuating raw material prices, leading to a trend of low-profit operations [6][7]. - The company is actively exploring new markets and enhancing its international trade capabilities to mitigate these challenges [6][7]. - Focus on green development and compliance with environmental standards to improve competitiveness and sustainability [6][8].

Company Overview - Fujian Fengzhu Textile Technology Co., Ltd. is listed on the Shanghai Stock Exchange with the stock code 600493 and the stock name Fengzhu Textile [1] - The company has a total asset value of approximately CNY 1.74 billion, which represents a 4.81% increase compared to the previous year [1] Financial Performance - The company's operating revenue for the reporting period is approximately CNY 426.39 million, reflecting a decrease of 7.63% compared to the same period last year [1] - The total profit for the period is approximately CNY 9.43 million, which is an increase of 46.59% year-on-year [1] - The net profit attributable to shareholders is approximately CNY 7.95 million, marking a 31.77% increase compared to the previous year [1] - The net profit after deducting non-recurring gains and losses is approximately CNY 2.59 million, showing a significant decrease of 45.85% year-on-year [1] - The net cash flow from operating activities is approximately CNY 21.51 million, which is an increase of 44.73% compared to the previous year [1] - The weighted average return on equity increased by 0.1706 percentage points to 7.16% [1] Shareholder Information - As of the reporting period, the total number of shareholders is 18,188 [1] - The largest shareholder, Chen Chengqing, holds 10.72% of the shares, amounting to 29,147,520 shares [2] - Other significant shareholders include Li Changchun with 8.69% and Li Mingfeng with 8.55% [2]

公司代码：600493 公司简称：凤竹纺织 福建凤竹纺织科技股份有限公司 2025 年半年度报告 福建凤竹纺织科技股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、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、 公司负责人陈强、主管会计工作负责人彭家国及会计机构负责人（会计主管人员）彭家国 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 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。 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 无 十一、 其他 □适用 √不适用 2 / 140 | ...

Market Overview - The textile manufacturing sector experienced a decline of 2.53% on August 27, with Huasheng Co. leading the drop [1] - The Shanghai Composite Index closed at 3800.35, down 1.76%, while the Shenzhen Component Index closed at 12295.07, down 1.43% [1] Individual Stock Performance - Nanshan Zhishang (300918) saw a price increase of 4.20%, closing at 22.84, with a trading volume of 432,500 shares and a turnover of 979 million yuan [1] - Other notable declines included Hu'an Fashion (002042) down 1.08% to 5.47, and Jinchun Co. (300877) down 1.24% to 26.25 [1] - The largest decline was seen in Runtong Co. (600156), which fell by 7.94% to 8.69, with a trading volume of 453,900 shares and a turnover of 40.9 million yuan [2] Capital Flow Analysis - The textile manufacturing sector experienced a net outflow of 47.22 million yuan from institutional investors, while retail investors saw a net outflow of 6.17 million yuan [2] - Conversely, speculative funds recorded a net inflow of 53.39 million yuan [2] Detailed Capital Flow for Selected Stocks - Nanshan Zhishang (300918) had a net inflow of 89.63 million yuan from institutional investors, while retail investors faced a net outflow of 80.94 million yuan [3] - Jinchun Co. (300877) saw a net inflow of 35.31 million yuan from institutional investors, with retail investors experiencing a net outflow of 42.45 million yuan [3] - Xinye Technology (002674) had a net inflow of 26.44 million yuan from institutional investors, while retail investors faced a net outflow of 17.70 million yuan [3]

Market Performance - The textile manufacturing sector increased by 0.64% on August 22, with Nanshan Zhishang leading the gains [1] - The Shanghai Composite Index closed at 3825.76, up 1.45%, while the Shenzhen Component Index closed at 12166.06, up 2.07% [1] Stock Performance - Nanshan Zhishang (300918) closed at 22.40, with a rise of 10.02% and a trading volume of 580,200 shares, amounting to a transaction value of 1.273 billion [1] - Other notable performers included Xingye Technology (002674) with a 6.16% increase, closing at 14.64, and Junjie Microfiber (300819) with a 1.49% increase, closing at 26.52 [1] Capital Flow - The textile manufacturing sector experienced a net outflow of 12.02 million from institutional investors and 42.26 million from speculative funds, while retail investors saw a net inflow of 54.28 million [2] - Nanshan Zhishang had a net inflow of 85.95 million from institutional investors, while speculative funds saw a net outflow of 80.12 million [3] Individual Stock Analysis - Huamao Co. (000850) had a significant net inflow of 28.42 million from institutional investors, indicating strong interest [3] - The overall capital flow in the textile sector shows a mixed sentiment, with institutional and speculative funds withdrawing while retail investors are actively buying [2][3]

Market Overview - The textile manufacturing sector experienced a decline of 0.46% on August 7, with Nanshan Zhishang leading the drop [1] - The Shanghai Composite Index closed at 3639.67, up 0.16%, while the Shenzhen Component Index closed at 11157.94, down 0.18% [1] Stock Performance - Notable gainers in the textile sector included: - Yunzhong San (603130) with a closing price of 42.72, up 9.99% and a trading volume of 65,900 shares, totaling 274 million yuan [1] - Xingye Technology (002674) closed at 10.71, up 2.49% with a trading volume of 148,100 shares, totaling 159 million yuan [1] - Major decliners included: - Nanshan Zhishang (300918) closed at 20.44, down 2.20% with a trading volume of 184,600 shares, totaling 377 million yuan [2] - Jinchun Co. (300877) closed at 27.14, down 1.99% with a trading volume of 59,400 shares, totaling 163 million yuan [2] Capital Flow - The textile manufacturing sector saw a net outflow of 252 million yuan from institutional investors, while retail investors contributed a net inflow of 214 million yuan [2] - The detailed capital flow for selected stocks showed: - Xingye Technology had a net inflow of 18.30 million yuan from institutional investors, while retail investors had a net outflow of 8.19 million yuan [3] - Yunzhong San experienced a net inflow of 14.33 million yuan from institutional investors, with a net outflow of 16.09 million yuan from retail investors [3]

Group 1 - As of July 29, there are 5,817 listed companies in the A-share market, with a total remuneration for company secretaries reaching 4.086 billion yuan and an average salary of 754,300 yuan [1] - In the textile and apparel industry, the highest annual salary for a company secretary is 2.3533 million yuan, while the lowest is 128,400 yuan, with an industry average salary of 750,000 yuan [1] - The company secretary with the highest salary in 2024 is Wang Qinglin from Taiping Bird, earning 2.3533 million yuan, while the lowest is Hu Liping from Ruibeka at only 128,400 yuan [1] Group 2 - Most listed companies have increased the salaries of their company secretaries, with the largest increase seen in Zhang Wangwang from Jian Sheng Group, whose salary rose from 430,500 yuan in 2023 to 1.1508 million yuan, a year-on-year increase of 167% [4] - The oldest company secretary in the textile industry is Wang Jianyou from Langzi Co., born in 1963, while the youngest is Cai Xiaoli from Huijie Co., born in 1993, making her only 32 years old [4] - The overall educational background of company secretaries in the industry shows that most hold a bachelor's degree, with only a few having an associate degree, and one, Wang Jianyou, holding a doctoral degree [4] Group 3 - The professional capabilities and performance of company secretaries significantly impact company stock prices, with companies paying over 1 million yuan in salaries experiencing stock price declines [5] - Taiping Bird's stock price has consistently decreased from 2021 to 2024, with annual changes of -5.55%, -31.88%, -6.54%, and -10.12% [5] - Similarly, Dongmei Co. has also seen a continuous decline in stock prices from 2021 to 2024, with annual changes of -21.89%, -32.43%, -10.26%, and -7.41% [5]