目 录 年报显示，公司主营橡胶种植、加工和贸易等业务，报告期实现营业收入 496.73 亿元，同比增长 31.80%，实现归母净利润 1.03 亿元，同比下降 65.20%， 扣非净利润-5.81 亿元，长期处于扣非亏损状态。分行业看，公司未按主营业务 披露细分行业信息，仅披露农业行业收入 485.77 亿元。分地区看，境内收入 296.68 亿元，同比增长 58.46%，毛利率 1.89%，境外收入 189.09 亿元，与去年 同期持平，毛利率 4.68%。此外，前期年报回函显示，公司存在客户和供应商重 合或属同一控制的情形，且贸易业务收入确认分别采用了总额法和净额法。 | 关于主营业务及业绩……………………………………… 一、 | 第 | 1—22 | 页 | | --- | --- | --- | --- | | 二、关于合盛农业…………………………………………… | 第 | 22—29 | 页 | | 三、关于货币资金和借款………………………………… ……第 | | 30—34 | 页 | | 四、关于存货…………………………………………………… | 第 | 34—43 | 页 | | 五、关于往来款 ...

Group 1 - The core point of the article highlights the recent performance and financial metrics of Hainan Rubber (601118), noting a stock price of 4.98 yuan, a decline of 1.19%, and a trading volume of 616,000 hands with a transaction amount of 308 million yuan as of July 30, 2025 [1] - The company reported total operating revenue of 10.039 billion yuan for Q1 2025, representing a year-on-year growth of 23.30%, and a net profit attributable to shareholders of 108.377 million yuan, up 32.76% year-on-year [1] - The financial ratios indicate a current ratio of 1.045, a quick ratio of 0.698, and a debt-to-asset ratio of 69.93% [1] Group 2 - Hainan Rubber has made investments in 26 companies and participated in 331 bidding projects, showcasing its active engagement in the market [2] - The company holds 151 trademark registrations and 69 patents, indicating a strong focus on intellectual property [2] - Additionally, Hainan Rubber possesses 297 administrative licenses, reflecting its compliance and operational capabilities [2]

Group 1 - The company held the 41st meeting of the 6th Board of Directors on December 30, 2024, and the first extraordinary shareholders' meeting of 2025 on January 22, 2025, where it approved the proposal to apply for the registration and issuance of domestic debt financing instruments [1] - The company received the acceptance notice from the China Interbank Market Dealers Association for the registration of medium-term notes with a total amount of 1.5 billion yuan, valid for two years from the date of the notice [1] - The company has recently completed the issuance of the first phase of medium-term notes for 2025, with specific details available on the China Money website and the Shanghai Clearing House website [1]

Group 1 - The stock price of Hainan Rubber closed at 5.04 yuan on July 29, 2025, down 0.04 yuan or 0.79% from the previous trading day [1] - The company reported a total revenue of 10.039 billion yuan for Q1 2025, with a net loss attributable to shareholders of 108 million yuan [1] - Hainan Rubber completed the issuance of its first phase of medium-term notes for 2025, raising a total of 350 million yuan at an interest rate of 2.07% [1] Group 2 - Hainan Rubber's main business includes the planting, processing, and sales of natural rubber, along with involvement in rubber products and trade [1] - The company is a key enterprise in Hainan Province, covering the entire rubber industry chain and engaging in concepts such as the Hainan Free Trade Zone and biodegradable plastics [1] - On July 29, 2025, the net outflow of main funds was 15.4142 million yuan, accounting for 0.07% of the circulating market value [1]

证券代码：601118 证券简称：海南橡胶 公告编号：2025-047 海南天然橡胶产业集团股份有限公司 2025年度第一期中期票据发行结果的公告 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"公司"）分别于2024年12月30日、2025年1月22日召开 了第六届董事会第四十一次会议以及2025年第一次临时股东大会，审议通过了《关于申请注册发行境内 债务融资工具的议案》，同意公司在银行间市场申请注册发行债务融资工具。公司于2025年7月收到中 国银行间市场交易商协会《接受注册通知书》（中市协注〔2025〕MTN611号），中国银行间市场交易 商协会接受公司中期票据注册，注册金额为15亿元，注册额度自《接受注册通知书》落款之日起2年内 有效，公司在注册有效期内可分期发行中期票据。具体内容详见公司2024年12月31日、2025年1月23 日、2025年7月15日在上海证券交易所网站（www.sse.com.cn）披露的相关公告。 公司已于近日完成了2025年度第一期中期票据的发行， ...

Core Viewpoint - Hainan Rubber has completed the issuance of the first phase of medium-term notes for the year 2025 [2] Group 1 - The company announced the completion of the issuance recently [2]

证券代码：601118 证券简称：海南橡胶 公告编号：2025-047 海南天然橡胶产业集团股份有限公司 2025 年度第一期中期票据发行结果的公告 海南天然橡胶产业集团股份有限公司 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。 董 事 会 海南天然橡胶产业集团股份有限公司（以下简称"公司"）分别于 2024 年 12 月 30 日、2025 年 1 月 22 日召开了第六届董事会第四十一次会议以及 2025 年第一次临时股东大会，审议通过了《关于申请注册发行境内债务融资工具的议 案》，同意公司在银行间市场申请注册发行债务融资工具。公司于 2025 年 7 月 收到中国银行间市场交易商协会《接受注册通知书》（中市协注〔2025〕MTN611 号），中国银行间市场交易商协会接受公司中期票据注册，注册金额为 15 亿元， 注册额度自《接受注册通知书》落款之日起 2 年内有效，公司在注册有效期内可 分期发行中期票据。具体内容详见公司 2024 年 12 月 31 日、2025 年 1 月 23 日、 2025 年 7 月 15 日 ...

关于签订 2025 年橡胶收入保险项目保险协议补充协议的公告 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"）2025年2月 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了《海南橡胶2025年橡胶收入保险项目保险协议》 （以下简称"原协议"）。根据《海南省财政厅 海南省农业农村厅 国家金融监 督管理总局海南监管局关于调整2025年海胶集团天然橡胶收入保险公允价格与 保险费率的通知》（琼财金〔2025〕540号），公司与保险公司近日签订了《海 南橡胶2025年橡胶收入保险项目保险协议补充协议》。具体内容如下： 证券代码：601118 证券简称：海南橡胶 公告编号：2025-046 海南天然橡胶产业集团股份有限公司 定执行。 二、对上市公司的影响 本次补充协议对 2025 年海南橡胶天然橡胶收入保险公允价格与保险费率等 条款进行调整，有利于进一步稳定 ...

Core Insights - The article highlights the successful implementation of an incentive mechanism by Hainan Rubber to strengthen its core rubber worker team, resulting in a 45% increase in the average effective tapping trees per worker compared to before the reforms [1][3][4] - The company aims to expand the core rubber worker team to over 8,000 by 2026, focusing on improving workers' rights and benefits, including housing and social security [4] Summary by Sections - **Core Worker Development**: Hainan Rubber has actively developed its core rubber worker team to address issues such as aging workforce and personnel loss due to low natural rubber market prices. The company has implemented various measures to enhance the skills and motivation of its workers [2][3] - **Performance Improvement**: The company has established a performance-based compensation system that incorporates factors like performance and job title, which has significantly boosted the motivation and productivity of core rubber workers [2][3] - **Insurance and Support**: Hainan Rubber provides comprehensive medical and pension insurance for its core rubber workers, ensuring their financial security and encouraging them to improve their skills and productivity [3] - **Future Plans**: The company plans to continue its efforts in promoting the core rubber worker team and aims to further enhance the income stability mechanism for workers, thereby solidifying the foundation of the natural rubber industry [4]

Core Insights - The Hainan Free Trade Port will officially start its full island closure operation on December 18, 2025, marking a new phase of openness and presenting significant development opportunities for local companies while raising the bar for brand value construction [1][3] Brand Value Status - Hainan has 9 listed companies in the national brand value TOP 3000 list, indicating a substantial room for improvement in brand building among local firms [1] - Hainan Rubber leads with a brand value of 9.56 billion, significantly surpassing the combined brand values of the second to fourth ranked companies, highlighting the need for more leading brand enterprises in the region [2] - The agricultural sector has the highest combined brand value exceeding 14 billion, while most other sectors have not surpassed 1 billion, indicating an imbalance in brand value distribution [2] Opportunities from Closure Policy - The total brand value of Hainan's listed companies is approximately 25.5 billion, ranking 30th among provincial administrative regions, which correlates closely with the region's GDP ranking [3] - The closure policy will implement a unique system of liberalization, expanding the range of zero-tariff goods from 1,900 to about 6,600, covering 74% of all goods [3] - Local companies are positioned to leverage policy advantages, but their success will depend on their ability to enhance competitiveness, address talent shortages, and innovate while facing increased competition [3]