目 录 | 一、内部控制审计报告…………………………………………第 | 1—2 | 页 | | --- | --- | --- | | 二、资质附件……………………………………………………第 | 3—8 | 页 | 内部控制审计报告 天健审〔2025〕8-509 号 海南天然橡胶产业集团股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求，我们审 计了海南天然橡胶产业集团股份有限公司（以下简称海南橡胶公司）2024 年 12 月 31 日的财务报告内部控制的有效性。 一、企业对内部控制的责任 按照《企业内部控制基本规范》《企业内部控制应用指引》以及《企业内部控制 评价指引》的规定，建立健全和有效实施内部控制，并评价其有效性是海南橡胶公司 董事会的责任。 第 1 页 共 8 页 我们认为，海南橡胶公司于 2024 年 12 月 31 日按照《企业内部控制基本规范》 和相关规定在所有重大方面保持了有效的财务报告内部控制。 天健会计师事务所（特殊普通合伙） 中国注册会计师： 二、注册会计师的责任 我们的责任是在实施审计工作的基础上，对财务报告内部控制的有效性发表审计 意见，并对注意 ...

三、资质附件…………………………………………………………第 4—9 页 关于海南天然橡胶产业集团股份有限公司 涉及财务公司关联交易的存款、贷款等 金融业务的专项说明 天健审〔2025〕8-512 号 目 录 | 一、涉及财务公司关联交易的存款、贷款等 | | --- | | 金融业务的专项说明…………………………………………………第 1—2 页 | 二、2024 年度涉及财务公司关联交易的存款、贷款等 金融业务情况汇总表…………………………………………………第 3 页 海南天然橡胶产业集团股份有限公司全体股东： 我们接受委托，审计了海南天然橡胶产业集团股份有限公司（以下简称海南 橡胶公司）2024 年度财务报表，包括 2024 年 12 月 31 日的合并及母公司资产负 债表，2024 年度的合并及母公司利润表、合并及母公司现金流量表、合并及母 公司所有者权益变动表，以及财务报表附注，并出具了审计报告。在此基础上， 我们审核了后附的海南橡胶公司管理层编制的《2024 年度涉及财务公司关联交 易的存款、贷款等金融业务情况汇总表》（以下简称金融业务情况汇总表）。 一、对报告使用者和使用目的的限定 本报告仅供海南橡 ...

Financial Performance - The company's operating revenue for Q1 2025 was ¥10,039,128,211.38, representing a 23.30% increase compared to ¥8,142,341,159.98 in the same period last year[4] - The net profit attributable to shareholders was -¥108,376,973.15, an improvement from -¥161,185,737.70 year-over-year[4] - The basic earnings per share for the reporting period was -¥0.0253, an improvement from -¥0.0377 in the same period last year[4] - The net profit attributable to shareholders, excluding non-recurring gains and losses, improved by 37.09% compared to the previous year[9] - The company experienced a 32.76% increase in net profit attributable to shareholders due to rising rubber product prices[9] - Net profit for Q1 2025 was a loss of ¥121,959,653.85, an improvement from a loss of ¥226,369,005.50 in Q1 2024[19] - The company reported a comprehensive loss of ¥51,627,154.08 for Q1 2025, compared to a loss of ¥372,029,032.67 in Q1 2024[19] Cash Flow and Liquidity - The net cash flow from operating activities increased by 130.41% to ¥444,401,673.51, up from ¥192,873,691.62 in the previous year[4] - In Q1 2025, the cash inflow from operating activities was CNY 11,604,219,621.53, a 32.7% increase from CNY 8,789,148,388.03 in Q1 2024[21] - The net cash flow from operating activities in Q1 2025 was CNY 444,401,673.51, compared to CNY 192,873,691.62 in Q1 2024, reflecting a significant improvement[21] - The cash inflow from financing activities in Q1 2025 totaled CNY 3,506,847,509.79, compared to CNY 2,272,347,526.80 in Q1 2024, marking a 54.2% increase[22] - The net cash flow from financing activities in Q1 2025 was CNY 941,848,928.17, significantly higher than CNY 75,225,893.51 in Q1 2024, indicating improved financing conditions[22] - The total cash and cash equivalents at the end of Q1 2025 reached CNY 6,746,299,488.88, up from CNY 4,198,707,640.16 at the end of Q1 2024, reflecting strong liquidity[22] Assets and Liabilities - The total assets at the end of the reporting period were ¥37,401,710,312.46, a 3.69% increase from ¥36,069,765,150.54 at the end of the previous year[5] - The company's current assets reached CNY 16,796,111,700.36, up from CNY 15,465,796,203.65, indicating an increase of about 8.59%[15] - The company's total liabilities increased to ¥26,154,589,451.46 in Q1 2025, compared to ¥24,771,382,855.46 in Q1 2024[17] - The total equity attributable to shareholders decreased to ¥9,764,694,838.80 in Q1 2025 from ¥9,846,348,103.60 in Q1 2024[17] - The company's non-current assets totaled CNY 20,605,598,612.10, slightly up from CNY 20,603,968,946.89, indicating a marginal increase of approximately 0.01%[15] Operational Costs - Total operating costs for Q1 2025 were ¥10,138,256,677.55, up 20.9% from ¥8,370,772,088.96 in Q1 2024[17] - The cash outflow for purchasing goods and services in Q1 2025 was CNY 10,236,020,460.84, up from CNY 7,927,371,846.97 in Q1 2024, indicating increased operational costs[21] - The cash outflow for employee compensation in Q1 2025 was CNY 456,138,154.44, slightly higher than CNY 419,692,150.97 in Q1 2024, reflecting increased labor costs[21] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 82,445[10] - The company has not reported any significant changes in shareholder relationships or actions during the reporting period[13] Non-Recurring Items - The company reported non-recurring gains of ¥980,643.98 from the disposal of non-current assets[6] - The company's contract liabilities increased significantly to ¥1,102,340,003.43 in Q1 2025 from ¥509,183,914.65 in Q1 2024, indicating growth in future revenue recognition[17] Research and Development - Research and development expenses for Q1 2025 were ¥4,608,120.41, a decrease from ¥5,379,603.37 in Q1 2024[19] Miscellaneous - There are no applicable reminders for investors regarding the company's operational status during the reporting period[13] - The cash flow statement for Q1 2025 indicates ongoing financial management efforts, although specific cash flow figures were not detailed in the provided content[20] - The impact of exchange rate changes on cash and cash equivalents in Q1 2025 was -CNY 3,171,758.55, an improvement from -CNY 9,209,219.30 in Q1 2024, indicating reduced currency volatility effects[22]

Financial Performance - The company's operating revenue for 2024 reached ¥49.67 billion, representing a 31.80% increase compared to ¥37.69 billion in 2023[22]. - The net profit attributable to shareholders for 2024 was ¥103.39 million, a decrease of 65.20% from ¥297.12 million in 2023[22]. - The net cash flow from operating activities increased by 22.90% to ¥1.51 billion in 2024, up from ¥1.23 billion in 2023[22]. - The total assets of the company as of the end of 2024 were ¥36.07 billion, reflecting a 6.24% increase from ¥33.95 billion at the end of 2023[22]. - The basic earnings per share for 2024 were ¥0.0242, down 65.13% from ¥0.0694 in 2023[23]. - The weighted average return on equity decreased to 1.05% in 2024 from 3.11% in 2023, a decline of 2.06 percentage points[23]. - The company reported a net loss attributable to shareholders of ¥161.19 million in Q1 2024, with a total operating revenue of ¥8.14 billion for the same period[25]. - The company achieved a revenue of 49.67 billion RMB, representing a year-on-year increase of 31.80%[65]. - The net profit attributable to shareholders was 1.03 billion RMB, with total assets amounting to 360.70 billion RMB and net assets of 9.846 billion RMB[65]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of RMB 0.109 per 10 shares, totaling RMB 46,645,762.99 based on a total share capital of 4,279,427,797 shares as of the end of 2024[6]. - The cumulative cash dividend amount over the last three accounting years is 136,085,802.45 RMB, with an average cash dividend payout ratio of 85.60% based on the average net profit of 158,971,132.14 RMB during the same period[181]. Risk Management and Compliance - The company has not identified any significant risks that could impact its ongoing operations during the reporting period[8]. - The company has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties[8]. - The company has not violated any regulatory decision-making procedures in providing guarantees[8]. - The company has detailed various risks and countermeasures in its management discussion and analysis section[8]. - The company is actively managing exchange rate risks through natural hedging and other management tools to mitigate the impact of currency fluctuations on operations[130]. - The company has established a comprehensive compliance management system, focusing on investment mergers and acquisitions, trade environmental protection, and implementing a dynamic management system for exchange rate risks[128]. - The company has committed to enhancing its compliance management and has revised several internal governance documents to improve operational efficiency[162]. Operational Efficiency and Cost Management - The company implemented cost reduction and efficiency enhancement measures, achieving over RMB 400 million in savings, including management of KM and ART companies[37]. - The manufacturing costs for rubber products decreased by 21.43% as a result of cost reduction initiatives[71]. - The company is actively pursuing cost reduction and efficiency improvement projects across its subsidiaries, focusing on procurement management and production optimization[185]. - A new strategic initiative has been launched to improve operational efficiency and reduce costs by 5%[145]. - The company aims to improve operational efficiency, with a goal to reduce costs by 15% through new technologies[146]. Research and Development - The total R&D investment amounted to ¥33,134,563.03, representing 0.07% of the total operating income[77]. - The number of R&D personnel is 364, accounting for 1.32% of the total workforce[78]. - The company has filed 33 new patents during the reporting period, including 21 invention patents[81]. - The company is committed to fostering new productive forces and enhancing the natural rubber industry layout through a comprehensive R&D system[127]. Market and Industry Trends - The global natural rubber production in 2024 is projected to be 14.291 million tons, an increase of 2.8% year-on-year, with China showing a growth of 4.2%[42]. - China's natural rubber consumption in 2024 is expected to reach approximately 7.216 million tons, a year-on-year increase of 3.3%, accounting for 46.7% of global consumption[44]. - The company is positioned as a key player in the national strategy for securing natural rubber resources, benefiting from supportive policies and funding[95]. - The establishment of the RCEP is expected to lower export barriers for rubber and tires, enhancing the company's competitive position in the market[94]. Environmental and Sustainability Initiatives - The company invested approximately 49.13 million yuan in environmental protection initiatives, including projects for VOCs treatment and solar power generation[191]. - The company has made significant investments in environmental projects, including a total budget of 1.6 million yuan for VOCs treatment, with substantial funds already allocated[191]. - The company has established emergency response plans for environmental incidents, which have been filed with the environmental protection authorities[199]. - The wastewater treatment facilities of all processing companies are operational 24/7, ensuring compliance with environmental standards[197]. Governance and Management Changes - The company has undergone several changes in its board and management personnel, including the election of Wang Hongxiang as the chairman of the board[155]. - The company has seen a significant turnover in its management team, with multiple resignations and appointments in recent months[156]. - The company is focusing on compliance and risk management, with Lei Min appointed as the Deputy General Manager of the Compliance and Risk Control Department[147]. - The company has appointed new executives, including the CFO and vice general managers, through board resolutions[156]. Meetings and Shareholder Engagement - The first extraordinary general meeting in 2024 was held on January 30, with 2,768,406,124 shares represented, accounting for 64.6910% of the total voting shares[137]. - The company’s meetings adhered to legal and regulatory requirements, ensuring the validity of the resolutions passed[137][138][139][140][141]. - The company held multiple board meetings and appointed new directors, including Wang Hongxiang as a non-independent director and Yang Yu as the general manager, effective from March 12, 2024[157][158].

证券代码：601118 证券简称：海南橡胶 公告编号：2025-013 海南天然橡胶产业集团股份有限公司 第六届董事会第四十二次会议决议公告 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。 海南天然橡胶产业集团股份有限公司（以下简称"公司"或"海南橡胶"）第 六届董事会第四十二次会议于 2025 年 4 月 7 日以通讯表决方式召开，本次会议应 出席董事 7 名，实际参会董事 7 名。本次会议的召集、召开符合《公司法》《公 司章程》的有关规定，合法有效。会议以记名投票表决方式通过如下议案： 一、审议通过《海南橡胶关于聘任高级管理人员的议案》 经公司总经理提名，董事会提名委员会审核通过，同意聘任崔红光先生为公 司副总经理（挂职一年）。 特此公告。 海南天然橡胶产业集团股份有限公司 董 事 会 2025 年 4 月 8 日 附件：人员简历 崔红光：男，1983 年 8 月出生，农学博士。2013 年 6 月至 2016 年 5 月，任 加拿大农业部伦敦研究与发展中心博士后；2016 年 5 月至 2017 年 6 月，任河北 农业 ...

证券代码：601118 证券简称：海南橡胶 公告编号：2025-012 海南天然橡胶产业集团股份有限公司 关于收到橡胶收入保险赔款及财产险保险赔款的公告 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。 近日，公司已收到上述赔付款项，会计核算计入其他收益。 二、财产险保险赔款 根据公司与中国人民财产保险股份有限公司海南省分公司签订的《海南橡胶 2024 年度胶工团体人身保险及集团财产险统保项目保险合同》约定，2024 年 9 月期间因台风"摩羯"导致投保财产受损，触发保险赔付条件。经查勘定损，确 定保险赔付金额为 5,043,136.52 元，会计核算计入营业外收入。 以上具体会计处理最终以审计机构审计确认后的结果为准，敬请广大投资者 注意投资风险。 一、橡胶收入保险赔款 根据海南天然橡胶产业集团股份有限公司（以下简称"公司"）与中国太平 洋财产保险股份有限公司海南分公司、中国人民财产保险股份有限公司海南省分 公司、中国人寿财产保险股份有限公司海南省分公司、中国平安财产保险股份有 限公司海南分公司、阳光财产保险股份有限公司海南省 ...

证券代码：601118 证券简称：海南橡胶 公告编号：2025-011 海南天然橡胶产业集团股份有限公司 关于签订 2025 年橡胶收入保险项目保险协议的公告 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。 海南天然橡胶产业集团股份有限公司（以下简称"海南橡胶"）近日与中国 太平洋财产保险股份有限公司海南分公司、中国人民财产保险股份有限公司海南 省分公司、中国人寿财产保险股份有限公司海南省分公司、阳光财产保险股份有 限公司海南省分公司签订《海南橡胶 2025 年橡胶收入保险项目保险协议》，具 体内容如下： 一、协议当事人 甲方（投保人、被保险人）：海南天然橡胶产业集团股份有限公司 乙方（主承保人、保险人）：中国太平洋财产保险股份有限公司海南分公司 丙方（共保人、保险人）：中国人民财产保险股份有限公司海南省分公司 丁方（共保人、保险人）：中国人寿财产保险股份有限公司海南省分公司 戊方（共保人、保险人）：阳光财产保险股份有限公司海南省分公司 二、协议主要条款 （2）洪水、泥石流、滑坡或山崩； 五方本着自愿、平等、互利和诚实信用的原 ...

Investment Rating - The report maintains an "Outperform the Market" rating for Hainan Rubber [5] Core Views - Hainan Rubber is a global leader in the natural rubber industry, expected to benefit from an upward trend in the industry [1] - The company has a strong market position with significant influence and competitiveness in the global natural rubber market, covering major tire manufacturers [1][13] - The long-term supply-demand imbalance is expected to support a gradual increase in natural rubber prices [1][47] - The company is actively optimizing management and technology to enhance profitability as the rubber market improves [2] Summary by Sections Company Overview - Hainan Rubber focuses on the cultivation, processing, and trading of natural rubber, managing nearly 4 million acres of rubber plantations globally, with an annual production exceeding 100,000 tons [13] - The company has a significant trading volume of 3.8 million tons of rubber, accounting for approximately 25% of global consumption [1][13] Industry Outlook - The natural rubber industry is expected to experience a long-term upward trend, with supply constraints and stable demand driving price increases [1][47] - Short-term supply issues due to weather disturbances are anticipated, but the overall market is expected to remain strong [38][44] Profitability and Financials - The company’s profitability is primarily driven by its own rubber production, with a potential for cost reduction through management optimization and technology advancements [2] - Revenue forecasts for 2024-2026 are projected at 12 billion, 20 billion, and 44 billion yuan respectively, with significant year-on-year growth rates [3][4] - The estimated reasonable valuation for the company is between 6.1 and 6.3 yuan, indicating a premium over the current stock price [3][5] Operational Efficiency - The company has improved its operational efficiency through better management practices, resulting in reduced sales and management expense ratios [34] - Inventory turnover and accounts receivable turnover have shown positive trends, indicating enhanced operational performance [34] Strategic Initiatives - Hainan Rubber is expanding its business model by exploring underutilized land for non-rubber crops and enhancing its economic model [2][21] - The acquisition of HAC has significantly increased the company's processing capacity and strengthened its international market presence [20][21]

证券代码：601118 证券简称：海南橡胶 公告编号：2025-010 海南天然橡胶产业集团股份有限公司 关于为控股子公司提供担保的进展公告 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。 重要内容提示： ●被担保人名称：Halcyon Agri Corporation Limited（以下简称"合盛农业"） 为海南天然橡胶产业集团股份有限公司（以下简称"海南橡胶"或者"公司"） 的控股子公司。 ●本次担保金额及已实际为其提供的担保余额：公司为合盛农业提供不超过 人民币 167,032 万元的连带责任保证担保；截至本公告披露日，公司已实际为合 盛农业提供的担保余额为人民币 279,680.55 万元（含本次担保）。 ●逾期对外担保：无。 ●特别风险提示：合盛农业最近一期的资产负债率超过 70%，敬请投资者注 意相关风险。 一、担保情况概述 （一）担保的基本情况 1.国家开发银行信贷合同 为满足经营发展的需要，根据实际资金需求，合盛农业与国家开发银行海南 省分行（以下简称"国开行"）签署贷款合同，贷款金额为 40,000 万元人 ...

Financial Performance Forecast - The company expects a net profit attributable to shareholders for 2024 to be between 80 million and 120 million yuan, a decrease of 21.71 million to 17.71 million yuan compared to the previous year, representing a year-on-year decline of 73.08% to 59.61%[2]. - The expected net profit attributable to shareholders after deducting non-recurring gains and losses for 2024 is projected to be between -561.1 million and -374.1 million yuan, an increase of 402.20 million to 589.20 million yuan compared to the previous year, indicating a year-on-year increase of 41.75% to 61.16%[2]. - In 2023, the audited net profit attributable to shareholders was 297.12 million yuan, with a total profit of 320.62 million yuan, and a net profit after deducting non-recurring gains and losses of -963.30 million yuan[4]. Business Operations and Cost Control - The company has improved its main business operations by expanding terminal business and leveraging the premium advantage of EUDR products, leading to increased sales volume and prices of natural rubber products[6]. - The company has implemented cost control measures through centralized procurement, refined management, and strengthened budget control, which have enhanced its cost control capabilities[6]. Non-Recurring Gains and Losses - Non-operating income from asset disposals has decreased significantly, and losses from the "Mojiao" typhoon were not fully compensated by insurance, resulting in a substantial decline in overall non-recurring gains and losses compared to the previous year[6]. Audit and Forecast Accuracy - The performance forecast data has not been audited by a registered accountant, and there are no significant uncertainties affecting the accuracy of the forecast[7]. - The forecast data is preliminary and the specific financial data will be based on the officially disclosed audited financial report for 2024[8].