公司代码：600653 公司简称：申华控股 辽宁申华控股股份有限公司 2025 年半年度报告 1 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、 公司负责人高新刚、主管会计工作负责人周春及会计机构负责人（会计主管人员）彭丽萍 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 十、 重大风险提示 公司存在的风险因素主要有经济及政策风险、行业竞争加剧风险，有关风险因素内容与对策 措施已在本报告中第三节"管理层讨论与分析"中予以详细描述，敬请查阅。 十一、 其他 □适用 √不适用 2 | 第一节 | 释义 | ...

| 交易日 | 融资净买入(元) | 融资余额(元) | 占流通市值比 | | --- | --- | --- | --- | | 2025-08-21 | 64.19万 | 1.16亿 | 2.95% | | 2025-08-20 | 38.86万 | 1.16 Z | 2.92% | | 2025-08-19 | 21.77万 | 1.15 Z | 3.03% | | 2025-08-18 | -55.14万 | 1.15亿 | 3.08% | | 2025-08-15 | 74.59万 | 1.16亿 | 3.15% | 融券方面，当日融券卖出2.38万股，融券偿还0.0股，融券净卖出2.38万股，融券余量10.08万股，近20个 交易日中有13个交易日出现融券净卖出。 | 交易日 | 融券冷卖用(股) | | 融券余量(股) | 融券余额(元) | | --- | --- | --- | --- | --- | | 2025-08-21 | | 2.38万 | 10.08万 | 20.46万 | | 2025-08-20 | | -5.28万 | 7.70万 | 15.71万 | | 2025-08- ...

Core Viewpoint - The company plans to establish a joint venture, Shenwei Exploration (Shenyang) Technology Co., Ltd., with Shuo Cheng Technology to focus on AI predictive maintenance in the automotive smart manufacturing and industrial production sectors in Northern China [2][3][14]. Group 1: Investment Overview - The registered capital of the joint venture is set at RMB 10 million, with the company contributing RMB 5.1 million for a 51% stake, while Shuo Cheng Technology contributes RMB 4.9 million for a 49% stake [2][3][11]. - The joint venture aims to leverage the company's resources in the automotive industry and Shuo Cheng Technology's AI capabilities for industrial asset lifecycle management [2][10][14]. Group 2: Joint Venture Details - The joint venture will operate under the name Shenwei Exploration (Shenyang) Technology Co., Ltd., with its registered address in the Shenyang Free Trade Zone [8]. - The business scope includes technology promotion, software development, AI application software development, and various technology services [8][9]. Group 3: Agreement and Governance - The joint venture agreement was signed on August 19, 2025, and does not require shareholder approval as it is not classified as a related party transaction or a major asset restructuring [4][11]. - The governance structure includes a board of directors with three members, two nominated by the company and one by Shuo Cheng Technology, with the company nominating the chairman [9][11]. Group 4: Impact on the Company - This investment is seen as a strategic move to explore new growth paths and enhance the company's operational sustainability by tapping into the AI maintenance market [14].

证券代码：600653 证券简称：申华控股 公告编号：临 2025-28 号 辽宁申华控股股份有限公司 关于合资设立申维探索（沈阳）科技有限公司的公告 本公司董事会、全体董事及相关股东保证本公告内容不存在任何虚假记载、误导性 陈述或重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 投资标的名称：申维探索（沈阳）科技有限公司（暂定名，最终名称以工商登 记核准的名称为准） 投资金额：合资公司拟定注册资本为人民币 1,000 万元整，其中辽宁申华控股 股份有限公司（以下简称"公司"）以人民币现金形式出资 510 万元，持股 51%；硕橙 （厦门）科技有限公司（以下简称"硕橙科技"）以人民币现金形式出资 200 万元，以 发明专利形式出资 290 万元，合计出资 490 万元，持股 49%。 投资标的业务：合资公司拟依托公司在汽车相关行业的资源积累和市场触达优 势，以及硕橙科技在基于数据基座和算法模型的工业资产全生命周期 AI 运维能力，致 力于开展面向汽车智能制造和北方区域工业生产领域的 AI 预测性运维业务。 相关风险提示：合资公司未来可能面临宏观经济、国家政策、行业周期、市场 竞 ...

Core Points - The average stock price of A-shares is 12.63 yuan, with 36 stocks priced below 2 yuan, the lowest being *ST Suwu at 1.08 yuan [1] - Among the low-priced stocks, 12 are ST stocks, accounting for 33.33% of the total [1] - The Shanghai Composite Index closed at 3665.92 points as of August 12 [1] Low-Priced Stocks Summary - The lowest priced stock is *ST Suwu at 1.08 yuan, followed by *ST Jinke at 1.41 yuan and Rongsheng Development at 1.43 yuan [1] - In terms of market performance, 15 of the low-priced stocks increased in price, with ST Zhongzhu rising by 5.03%, *ST Tianmao by 2.63%, and *ST Jinglan by 1.75% [1] - Conversely, 12 stocks decreased in price, with Shandong Steel dropping by 1.29%, Chongqing Steel by 1.28%, and *ST Jinke by 0.70% [1] Detailed Low-Priced Stocks Table - The table includes various low-priced stocks with their latest closing prices, daily price changes, turnover rates, price-to-book ratios, and industries [2] - Notable stocks include ST Zhongzhu at 1.88 yuan with a 5.03% increase, and *ST Xingguang at 1.96 yuan with a 1.03% increase [2]

Core Points - The Shanghai Composite Index closed at 3653.50 points, above the annual line, with a gain of 0.51% [1] - The total trading volume of A-shares reached 1,149.623 billion yuan [1] - A total of 69 A-shares have surpassed the annual line today, with notable stocks showing significant deviation rates [1] Summary of Stocks Breaking the Annual Line - The stocks with the highest deviation rates include: - Shen Zhen Zhi Ye A: 5.97% deviation, closing price 6.97 yuan, with a daily increase of 7.07% and turnover rate of 4.64% [1] - De Fang Na Mi: 5.54% deviation, closing price 35.42 yuan, with a daily increase of 8.25% and turnover rate of 8.20% [1] - An Da Ke Ji: 5.19% deviation, closing price 5.86 yuan, with a daily increase of 5.78% and turnover rate of 6.58% [1] - Other notable stocks with smaller deviation rates include: - Hua Xi Biological: just above the annual line [1] - Yuan Zuo Shares: just above the annual line [1] - Pu Rui Eye Care: just above the annual line [1] Additional Stock Data - Other stocks with significant performance include: - Zhu Hai Guan Yu: 4.33% deviation, closing price 15.64 yuan, daily increase of 6.76% [1] - San Wei Gu Fen: 4.27% deviation, closing price 12.50 yuan, daily increase of 7.76% [1] - Tian Li Lithium Energy: 2.96% deviation, closing price 30.04 yuan, daily increase of 4.05% [1]

Group 1 - The automotive service sector increased by 1.17% on August 5, with Jiaoyun Co. leading the gains [1] - The Shanghai Composite Index closed at 3617.6, up 0.96%, while the Shenzhen Component Index closed at 11106.96, up 0.59% [1] - Key stocks in the automotive service sector showed various performance metrics, with Jiaoyun Co. closing at 5.69, up 3.08% [1] Group 2 - The automotive service sector saw a net inflow of 8.83 million yuan from institutional investors, while retail investors contributed a net inflow of 8.39 million yuan [2] - The overall net outflow from speculative funds was 17.22 million yuan [2] - Detailed stock performance indicated that Xiamen Xinda had a significant net outflow from institutional investors of 37.26 million yuan [3]

Core Viewpoint - The annual report of Liaoning Shenhua Holdings Co., Ltd. for 2024 indicates a significant recovery in net profit, despite a decline in revenue, highlighting the company's strategic adjustments and operational improvements in a challenging market environment [1][3]. Company Overview and Financial Indicators - The company reported a net profit attributable to shareholders of 38,598,756.24 yuan for 2024, a 119.42% increase from a loss of 198,775,447.12 yuan in 2023 [2][3]. - Total revenue for 2024 was 4,193,384,127.55 yuan, down 18.43% from 5,140,865,960.51 yuan in 2023 [2][3]. - The company's net assets at the end of the reporting period were 820,890,018.67 yuan, reflecting a 4.75% increase from 783,694,608.57 yuan in 2023 [2][3]. Business Performance - The automotive sales segment generated revenue of 41.44 billion yuan, maintaining stable sales despite market pressures [3][4]. - The company implemented measures such as optimizing vehicle structure and sales rhythm, which contributed to the reduction of losses and improved profitability [3][4]. - The company successfully cleared nine subsidiaries, recovering approximately 30 million yuan through asset management [3][4]. Industry Context - The automotive industry in China faced challenges, with total vehicle production and sales declining by 7.5% in 2024, while new energy vehicle sales reached 12.9 million units, accounting for 40.93% of total sales [5][6]. - The market for office buildings in Shanghai remains under pressure, with a shift towards high-quality projects and flexible office spaces expected to continue [6][7]. Competitive Advantages - The company is one of the largest BMW dealers in China, operating 14 BMW 4S stores, which positions it favorably in the automotive market [7][8]. - The company has enhanced the operational quality of its financial building, maintaining stable occupancy rates despite a sluggish market [7][8]. Financial Analysis - The company’s operating expenses decreased due to effective cost management, with sales expenses down by 17.12% and management expenses reduced by 7.41% [8][9]. - The net cash flow from operating activities increased by 11.85% to 73,781,875.19 yuan, attributed to improved management of receivables [8][9].

Group 1 - The company forecasts a net profit loss between -65 million and -45 million yuan for the current period [1] - The main reason for the profit loss is intensified competition in the automotive market, leading to ongoing price wars among brands [2] - The company, as a BMW dealer, is facing dual pressures from the market and manufacturers, but has implemented measures to stabilize sales revenue [2] Group 2 - The company's unaudited non-operating income is approximately 2.44 million yuan, which has decreased compared to the same period last year [2] - The company did not receive similar rebate subsidies from manufacturers as in the previous period, impacting overall profit [2] - The total profit for the period is reported at -44.62 million yuan, with a net profit attributable to shareholders of -38.93 million yuan [3]

[Current Period Performance Forecast](index=1&type=section&id=Current%20Period%20Performance%20Forecast) The company anticipates an operating loss for the first half of 2025, with net profit attributable to shareholders projected between **-65 million RMB and -45 million RMB**, and non-recurring net profit attributable to shareholders projected between **-70 million RMB and -50 million RMB**; this forecast is unaudited 2025 Semi-Annual Performance Forecast | Metric | Estimated Amount (RMB) | | :--- | :--- | | Net Profit Attributable to Shareholders of the Listed Company | -65 million RMB to -45 million RMB | | Net Profit Attributable to Shareholders of the Listed Company After Deducting Non-Recurring Gains and Losses | -70 million RMB to -50 million RMB | - This performance forecast has not been audited by a certified public accountant[3](index=3&type=chunk) [Prior Period Performance](index=1&type=section&id=Prior%20Period%20Performance) The report discloses key financial data for the same period in 2024, with net profit attributable to shareholders at **-38.9271 million RMB** and non-recurring net profit attributable to shareholders at **-64.9113 million RMB** 2024 Semi-Annual Prior Period Performance | Metric | Amount (RMB) | | :--- | :--- | | Total Profit | -44.6232 million RMB | | Net Profit Attributable to Shareholders of the Listed Company | -38.9271 million RMB | | Net Profit Attributable to Shareholders After Deducting Non-Recurring Gains and Losses | -64.9113 million RMB | | Earnings Per Share | -0.0200 RMB | [Primary Reasons for Current Period's Anticipated Loss](index=1&type=section&id=Primary%20Reasons%20for%20Current%20Period%27s%20Anticipated%20Loss) The anticipated loss for the current period is primarily influenced by both core business operations and non-operating gains and losses; while core business revenue remained stable despite intense automotive market competition, a significant year-over-year decrease in non-operating income, due to large settlement receipts in the prior period, exacerbated the loss [Impact of Core Business Operations](index=2&type=section&id=Impact%20of%20Core%20Business%20Operations) Despite intense price competition in the automotive market, the company, as a BMW dealer, achieved stable sales revenue growth through strategic adjustments, enhanced services, and expanded channels, maintaining non-recurring net profit attributable to shareholders largely consistent with the prior year even without similar manufacturer rebates - Automotive market competition intensified in the first half of the year, with escalating price wars transferring downward pressure to the industry supply chain[6](index=6&type=chunk) - As a BMW dealer, the company achieved stable sales revenue growth through proactive responses[6](index=6&type=chunk) - The company's non-recurring net profit attributable to shareholders remained largely consistent with the prior year, even without similar manufacturer rebates from the previous period, demonstrating the resilience of its core business operations[6](index=6&type=chunk) [Impact of Non-Operating Gains and Losses](index=2&type=section&id=Impact%20of%20Non-Operating%20Gains%20and%20Losses) Current period non-operating income is approximately **2.44 million RMB**, a significant decrease from the prior year, primarily because the company received settlement payments from Brilliance Group and Renault Jinbei in the same period last year, resulting in a higher comparative base - Unaudited non-operating income for the current period is approximately **2.44 million RMB**[7](index=7&type=chunk) - The primary reason for the year-over-year decrease in non-operating income is the receipt of partial settlement payments from Brilliance Group and Renault Jinbei in the same period last year[7](index=7&type=chunk) [Risk Warning](index=2&type=section&id=Risk%20Warning) The company confirms the absence of significant uncertainties that would affect the accuracy of this performance forecast - The company declares no significant uncertainties exist that would impact the accuracy of this performance forecast[8](index=8&type=chunk) [Other Explanatory Notes](index=2&type=section&id=Other%20Explanatory%20Notes) The company advises investors that the data disclosed herein are preliminary estimates, and the final accurate financial figures will be subject to the company's officially released 2025 semi-annual report - The data in this announcement are preliminary estimates, with final figures subject to the company's officially disclosed 2025 semi-annual financial report; investors are advised to be aware of investment risks[9](index=9&type=chunk)