证券代码：600525 证券简称：ST 长园 公告编号：2025073 长园科技集团股份有限公司 关于召开2025年第五次临时股东大会的通知 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： 一、 召开会议的基本情况 (一) 股东大会类型和届次 2025年第五次临时股东大会 召开的日期时间：2025 年 9 月 25 日 14 点 00 分 召开地点：深圳市南山区长园新材料港 5 栋 3 楼 (五) 网络投票的系统、起止日期和投票时间。 股东大会召开日期：2025年9月25日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 (四) 现场会议召开的日期、时间和地点 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 9 月 25 日 至2025 年 9 月 25 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开当日的 ...

一、审议通过了《关于向银行申请授信并提供担保的议案》 公司及子公司长园深瑞继保自动化有限公司等拟向银行申请授信额度，并根 据银行要求提供担保。具体详见公司 2025 年 9 月 10 日在上海证券交易所网站 （www.sse.com.cn）披露的《关于向银行申请授信并提供担保的公告》（公告编 号：2025072）。 表决结果：9 票同意，0 票反对，0 票弃权。 本议案需提交股东大会审议。 证券代码：600525 证券简称：ST长园 公告编号：2025071 长园科技集团股份有限公司 第九届董事会第十次会议决议公告 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。 长园科技集团股份有限公司（以下简称"公司"）第九届董事会第十次会议 于 2025 年 9 月 9 日以通讯方式召开，会议通知于 2025 年 9 月 3 日以电子邮件发 出。会议应参与表决董事 9 人，实际参与表决董事 9 人。本次会议的召集和召开 程序符合《中华人民共和国公司法》及《公司章程》的规定。本次会议审议通过 了以下议案： 长园科技集团股份有限公司 董事会 ...

证券代码：600525 证券简称：ST长园 公告编号：2025070 长园科技集团股份有限公司 关于公司股票被实施其他风险警示相关事项的进展 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。 重要提示： 长园科技集团股份有限公司（以下简称"公司"）2024年度审计机构上 会会计师事务所（特殊普通合伙）对公司2024年度财务报告内部控制出具了否定 意见的审计报告，根据《上海证券交易所股票上市规则》第9.8.1条等相关规定， 公司股票于2025年4月30日起被实施其他风险警示。 长园科技集团股份有限公司 董事会 二〇二五年八月三十日 一、公司被实施其他风险警示的相关情况 因公司2024年度内部控制被公司2024年度审计机构上会会计师事务所（特殊 普通合伙）出具了否定意见的《内部控制审计报告》，根据《上海证券交易所股 票上市规则》第 9.8.1 条"上市公司出现以下情形之一的，本所对其股票实施 其他风险警示：……（三）最近一个会计年度财务报告内部控制被出具无法表示 意见或否定意见的审计报告，或未按照规定披露财务报告内部控制审计报 ...

Core Viewpoint - ST Changyuan (600525) reported a decline in revenue and a significant increase in net loss for the first half of 2025, indicating financial distress and rising short-term debt pressure [1] Financial Performance Summary - Total revenue for H1 2025 was 3.47 billion yuan, a decrease of 0.89% year-on-year [1] - Net profit attributable to shareholders was -344 million yuan, a decline of 774.65% year-on-year [1] - In Q2 2025, total revenue was 2.07 billion yuan, an increase of 11.95% year-on-year, while net profit was -252 million yuan, a decrease of 351.46% year-on-year [1] - Gross margin was 32.94%, up 0.16% year-on-year, while net margin was -10.64%, down 514.21% year-on-year [1] - Total expenses (selling, administrative, and financial) amounted to 817 million yuan, accounting for 23.54% of revenue, a slight decrease of 0.38% year-on-year [1] Balance Sheet Highlights - Cash and cash equivalents increased by 23.63% to 4.31 billion yuan, with restricted cash accounting for 3.68 billion yuan [1][2] - Accounts receivable rose by 4.79% to 3.67 billion yuan [1] - Interest-bearing debt decreased by 19.42% to 2.81 billion yuan [1] Changes in Key Financial Metrics - Long-term equity investments decreased by 50.03% due to the transfer of a 25% stake in Changyuan Electronics, resulting in a reduction of 622 million yuan in equity investments [2] - Construction in progress increased by 36.38% due to investments in new material parks and upgrades [2] - Current liabilities saw significant changes, with a 158.56% increase in current portion of non-current liabilities due to long-term borrowings being reclassified [3] Cash Flow Analysis - Net cash flow from operating activities increased by 4.11%, attributed to higher cash receipts from sales [8] - Net cash flow from investing activities surged by 147.55%, driven by the sale of stocks and the receipt of funds from equity transfers [8] - Net cash flow from financing activities decreased by 171.1%, reflecting increased loan repayments [9] Investment and Business Model Insights - The company has historically shown weak investment returns, with a median ROIC of 2.91% over the past decade [11] - The business model relies heavily on R&D and marketing, necessitating a thorough examination of the underlying drivers [12]

Core Viewpoint - ST Changyuan (600525) reported a decline in revenue and a significant increase in net loss for the first half of 2025, indicating financial distress and rising short-term debt pressure [1]. Financial Performance Summary - Total revenue for H1 2025 was 3.47 billion yuan, a decrease of 0.89% year-on-year [1]. - Net profit attributable to shareholders was -344 million yuan, a decline of 774.65% year-on-year [1]. - In Q2 2025, total revenue was 2.07 billion yuan, an increase of 11.95% year-on-year, while net profit was -252 million yuan, a decrease of 351.46% year-on-year [1]. - The gross margin was 32.94%, up 0.16% year-on-year, while the net margin was -10.64%, down 514.21% year-on-year [1]. - Total expenses (selling, administrative, and financial) amounted to 817 million yuan, accounting for 23.54% of revenue, a slight decrease of 0.38% year-on-year [1]. Key Financial Metrics - Earnings per share (EPS) was -0.26 yuan, a decrease of 772.24% year-on-year [1]. - Net asset value per share was 2.83 yuan, down 26.78% year-on-year [1]. - Operating cash flow per share was -0.17 yuan, an increase of 4.4% year-on-year [1]. Significant Changes in Financial Items - Cash and cash equivalents increased by 23.63% to 4.31 billion yuan, primarily due to increased bank acceptance bills and loan guarantees [1]. - Long-term equity investments decreased by 50.03% due to the transfer of 25% equity in Changyuan Electronics, resulting in a reduction of 622 million yuan [1]. - Construction in progress increased by 36.38% due to investments in new material parks and upgrades [1]. - Accounts payable increased by 79.51% due to increased bill issuance [1]. - The current ratio was 0.97, indicating rising short-term debt pressure [1]. Business Evaluation - The company's historical return on invested capital (ROIC) has been weak, with a median of 2.91% over the past decade and a low of -10.83% in 2021 [4]. - The business model relies heavily on research and marketing, necessitating careful examination of the underlying drivers [4]. - Recommendations include monitoring cash flow status and debt levels, as the liquidity ratio is only 44.45% and the current ratio is 0.97 [4].

Group 1 - Sichuan Gold achieved a net profit of 209 million yuan in the first half of 2025, a year-on-year increase of 48.41% [1] - Hai Xin Co. reported a net profit of 108 million yuan, up 5.62% year-on-year, despite a revenue decline of 8.35% [1] - Shanhe Pharmaceutical Auxiliary's net profit decreased by 2.61% to 93.04 million yuan, with a revenue increase of 4.65% [2] Group 2 - Donghua Software's net profit fell by 15.78% to 244 million yuan, with a slight revenue decline of 1.76% [2] - Zhongyuan Haike reported a significant net profit drop of 91.21% to 9.83 million yuan, alongside a revenue decrease of 9.97% [3] - Xingxin New Materials experienced a net profit decline of 21.72% to 33.64 million yuan, with a minimal revenue growth of 0.02% [4] Group 3 - Longban Media's net profit increased by 13.28% to 120 million yuan, despite a revenue drop of 24.01% [6] - Guangge Technology reported a net loss of 31.38 million yuan, worsening from a loss of 20.17 million yuan in the previous year, with a revenue increase of 71.44% [7] - Ge Ke Wei's net profit decreased by 61.59% to 29.76 million yuan, despite a revenue growth of 30.33% [8] Group 4 - Shaoyang Hydraulic's net profit fell by 31.68% to 7.11 million yuan, with a revenue decline of 12.84% [9] - Qianjiang Biochemical achieved a net profit of 107 million yuan, a year-on-year increase of 30.24%, despite a revenue decline of 9.64% [10] - Jianhui Information's net profit dropped by 82.99% to 502.52 million yuan, with a revenue increase of 9.03% [11] Group 5 - Nobon Co. reported a net profit of 65.33 million yuan, up 48.33% year-on-year, with a revenue increase of 33.35% [12] - Proya's net profit increased by 13.80% to 799 million yuan, with a revenue growth of 7.21% [13] - Huayuan Holdings reported a net loss of 22.48 million yuan, improving from a loss of 39.2 million yuan in the previous year, with a revenue decline of 94.74% [15] Group 6 - Chihong Zn & Ge's net profit increased by 3.27% to 932 million yuan, with a revenue growth of 7.67% [17] - Dae Oriental's net profit decreased by 45.33% to 59.04 million yuan, with a revenue decline of 5.20% [19] - Zhongnong Lihua's net profit fell by 10.06% to 142 million yuan, despite a revenue increase of 3.27% [20] Group 7 - Triangle Tire's net profit decreased by 35.31% to 396 million yuan, with a revenue decline of 4.50% [21] - Lianchuang Optoelectronics reported a net profit of 263 million yuan, up 15.18% year-on-year, with a revenue increase of 6.51% [22] - Taijing Technology's net profit fell by 61.59% to 22.04 million yuan, despite a revenue growth of 16.73% [23] Group 8 - Congsheng Co. announced plans to establish a wholly-owned subsidiary with an investment of 5 million yuan [24] - Yilian Network's net profit decreased by 8.84% to 1.24 billion yuan, with a slight revenue decline of 0.64% [25] - Weichuang Electric's net profit increased by 4.87% to 141 million yuan, with a revenue growth of 16.39% [26] Group 9 - Liuyuan Chemical reported a net loss of 149 million yuan, worsening from a profit of 29.37 million yuan in the previous year, with a revenue increase of 3.10% [28] - Luxshare Precision achieved a net profit of 6.644 billion yuan, a year-on-year increase of 23.13%, with a revenue growth of 20.18% [29] - Jiangfeng Electronics reported a net profit of 253 million yuan, up 56.79% year-on-year, with a revenue increase of 28.71% [30] Group 10 - Hongqiao Technology reported a net loss of 22.97 million yuan, worsening from a profit of 21.96 million yuan in the previous year, with a revenue decline of 11.76% [31] - Hong Sifang's net profit decreased by 47.10% to 43.97 million yuan, with a revenue decline of 8.18% [32] - Huaxia Happiness reported a net loss of 6.827 billion yuan, worsening from a loss of 4.849 billion yuan in the previous year, with a revenue decline of 50.90% [35] Group 11 - Watson Bio's net profit decreased by 74.69% to 43.16 million yuan, with a revenue decline of 19.47% [37] - Huayang Lianzhong's controlling shareholder plans to increase its stake by 1% to 2% [39] - Lanhua Ketech's net profit decreased by 89.58% to 57.48 million yuan, with a revenue decline of 26.05% [41] Group 12 - Aike Optoelectronics reported a net profit increase of 127.40% to 36.04 million yuan, with a revenue growth of 64.39% [43] - Guojia Automobile's net profit decreased by 14.32% to 21.3 million yuan, with a revenue decline of 11.64% [44] - Yingjia Gongjiu's net profit decreased by 18.19% to 1.13 billion yuan, with a revenue decline of 16.89% [46] Group 13 - China Shipbuilding Technology reported a net loss of 574 million yuan, worsening from a loss of 81.71 million yuan in the previous year, with a revenue increase of 30.79% [48] - Dayang Electric's net profit increased by 34.41% to 602 million yuan, with a revenue growth of 7.66% [49] - Shoukai Co. reported a net loss of 1.839 billion yuan, improving from a loss of 1.948 billion yuan in the previous year, with a revenue increase of 105.19% [51]

Core Viewpoint - ST Changyuan (600525.SH) reported a decline in revenue and net profit for the first half of 2025, indicating ongoing financial challenges and a need for strategic adjustments [1][3]. Financial Performance - The company's total revenue for the first half of 2025 was 3.47 billion yuan, a decrease of 31.14 million yuan or 0.89% compared to the same period last year [1]. - The net profit attributable to shareholders was -344 million yuan, down 305 million yuan from the previous year [1]. - Operating cash flow showed a net inflow of -226 million yuan, which is an increase of 9.69 million yuan year-on-year, marking two consecutive years of improvement [1]. Key Financial Ratios - The latest debt-to-asset ratio stood at 77.13%, an increase of 0.27 percentage points from the previous quarter and up 9.21 percentage points from the same period last year [3]. - The gross profit margin was 32.94%, down 1.00 percentage points from the previous quarter and down 2.19 percentage points year-on-year [3]. - Return on equity (ROE) was -9.20%, a decrease of 8.43 percentage points compared to the same period last year [3]. Earnings Per Share and Turnover Ratios - The diluted earnings per share were -0.26 yuan, a decrease of 0.23 yuan from the previous year [3]. - The total asset turnover ratio was 0.21 times, down 0.01 times year-on-year, reflecting a decline of 2.64% [3]. - The inventory turnover ratio was 0.80 times, a decrease of 0.04 times compared to the previous year, representing a decline of 4.57% [3]. Shareholder Structure - The number of shareholders was 33,600, with the top ten shareholders holding 533 million shares, accounting for 40.43% of the total share capital [3]. - The largest shareholder is Zhuhai Gree Financial Investment Management Co., Ltd., holding 12.9% of the shares [3].

Core Points - The company held its ninth board meeting on August 22, 2025, where several key resolutions were passed, including the approval of the 2025 semi-annual report and an increase in expected daily related transactions for 2025 [1][2] - The company approved the sale of assets from its wholly-owned subsidiary, OptoFidelity Oy, which focuses on optical testing equipment [2][3] - The financial data of OptoFidelity Oy as of December 31, 2024, shows total assets of 90.2441 million yuan, net assets of -49.1399 million yuan, operating income of 12.41644 million yuan, and a net loss of 6.37516 million yuan [2][3] - The company plans to sell its mobile phone refurbishment business assets for 480,000 USD (approximately 3.445 million yuan) to Hyla Mobile, Inc., with the proceeds aimed at repaying internal loans and supplementing working capital [3][4] - The transaction is not classified as a related party transaction and is expected to generate an investment income of approximately 3.445 million yuan [4]

Group 1 - The company held its third meeting of the ninth Supervisory Board on August 22, 2025, via electronic communication, with all three supervisors participating in the voting [1][2]. - The meeting approved the full and summary report for the first half of 2025, which will be disclosed on August 26, 2025, on the Shanghai Stock Exchange website [1][2]. - The Supervisory Board confirmed that the report complies with the regulations of the China Securities Regulatory Commission and the Shanghai Stock Exchange, accurately reflecting the company's operational management and financial status for the first half of 2025 [1]. Group 2 - The voting results showed unanimous support with 3 votes in favor, 0 against, and 0 abstentions [2]. - The Supervisory Board takes legal responsibility for the truthfulness, accuracy, and completeness of the report's content [1]. - The company has established internal management systems that adhere to confidentiality regulations [1].

Group 1 - The company will hold a half-year performance briefing on September 5, 2025, from 13:00 to 14:00 [1][2] - The briefing will take place at the Shanghai Stock Exchange Roadshow Center and will be conducted in an interactive online format [2][3] - Key personnel attending the briefing include the CEO, Board Secretary, Financial Officer, and an Independent Director [2] Group 2 - Investors can submit questions from August 29, 2025, to September 4, 2025, via email or through the online platform [3] - After the briefing, investors can access the main content and details of the event on the Shanghai Stock Exchange Roadshow Center [3]