Lily Group(603823)

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百合花: 百合花集团股份有限公司2025年半年度报告全文
Zheng Quan Zhi Xing· 2025-08-27 08:13
Core Viewpoint - The report highlights the financial performance and operational status of Lily Group Co., Ltd. for the first half of 2025, indicating a decline in revenue and profit due to reduced sales volume, while emphasizing the company's strategic adjustments and ongoing commitment to innovation and safety in production [1][2][3]. Company Overview and Financial Indicators - Company Name: Lily Group Co., Ltd. [2] - Legal Representative: Chen Lirong [2] - Main Financial Data: - Revenue: CNY 1,125.36 million, down 7.83% from the previous year [2][4] - Total Profit: CNY 128.92 million, down 6.03% [2][4] - Net Profit attributable to shareholders: CNY 99.54 million, down 0.67% [2][4] - Net Cash Flow from Operating Activities: CNY 73.53 million, down 21.57% [2][4] - Total Assets: CNY 3,379.39 million, down 1.97% [2][4] - Net Assets attributable to shareholders: CNY 2,394.01 million, up 1.57% [2][4] Industry and Business Analysis - The organic pigment industry has shifted from Western dominance to Asia, particularly China, which has become the largest producer of organic pigments globally [3][4]. - The market is characterized by a dual structure where large enterprises dominate high-end products while numerous small and medium enterprises focus on the mid-to-low-end market [3][4]. - The demand for high-performance and environmentally friendly organic pigments is increasing, driven by the requirements of downstream industries such as coatings, inks, and plastics [3][4]. Operational Performance - The company has adjusted production in response to reduced demand, focusing on new product iterations and cost control measures to maintain profitability [5][6]. - The company achieved a net profit of CNY 99.54 million, with a slight decrease compared to the previous year, while the net profit excluding non-recurring items increased by 3.55% [5][6]. - The company has maintained a strong focus on safety and environmental standards, implementing various measures to enhance production safety and efficiency [5][6][7]. Competitive Advantages - The company has developed a comprehensive product range with over 200 specifications, positioning itself as a leader in the domestic organic pigment industry [6][7]. - The company emphasizes technological innovation and has established multiple research and development platforms, holding 57 authorized invention patents [6][7]. - The company has a complete supply chain, controlling key intermediates to mitigate risks associated with raw material supply and pricing [7][8]. Future Outlook - The organic pigment industry is expected to continue its steady growth, driven by stricter environmental regulations and technological advancements [3][4]. - The company aims to enhance its competitive edge by focusing on high-performance, eco-friendly products and expanding its market presence [6][7].
百合花: 百合花集团股份有限公司2025年半年度报告摘要
Zheng Quan Zhi Xing· 2025-08-27 08:13
Core Viewpoint - The report highlights a decline in key financial metrics for Lily Group Co., Ltd. in the first half of 2025, indicating challenges in revenue generation and profitability compared to the previous year [1]. Financial Summary - Total assets at the end of the reporting period amounted to CNY 3,379,387,886.52, a decrease of 1.97% from CNY 3,447,435,676.16 at the end of the previous year [1]. - Operating revenue for the period was CNY 1,125,359,528.13, reflecting a decline of 7.83% compared to CNY 1,220,985,024.02 in the same period last year [1]. - Total profit for the period was CNY 128,923,536.07, down 6.03% from CNY 137,189,710.31 year-on-year [1]. - Net profit attributable to shareholders of the listed company was CNY 95,649,358.03, which is an increase of 3.55% from CNY 92,368,699.52 in the previous year [1]. Shareholder Information - The largest shareholder, Lily Holdings Co., Ltd., holds 63.39% of the shares, amounting to 263,941,361 shares, with 18,000,000 shares pledged [2]. - Other notable shareholders include Chen Lirong with 4.09% (17,025,563 shares) and Chen Pengfei with 1.40% (5,844,683 shares) [2]. - The total number of shareholders at the end of the reporting period was 25,020 [1].
百合花: 百合花集团股份有限公司第五届董事会第六次会议决议公告
Zheng Quan Zhi Xing· 2025-08-27 08:13
Core Points - The board of directors of Baihehua Group Co., Ltd. held its sixth meeting of the fifth session on August 27, 2025, with all nine directors present, ensuring compliance with relevant laws and regulations [1][1][1] - The board approved the proposal regarding the full and summary report for the first half of 2025, which had already been reviewed by the audit committee [1][1][1] - The voting results for the proposal were unanimous, with 9 votes in favor, 0 against, and 0 abstentions [1][1][1]
百合花: 百合花集团股份有限公司2025年半年度主要经营数据
Zheng Quan Zhi Xing· 2025-08-27 08:13
Group 1 - The company disclosed its main operating data for the first half of 2025, including production, sales, and revenue figures for its key products [2] - The production and sales figures for the main products are as follows: - Yonggu Huang series: 5,296.11 tons produced, 5,336.70 tons sold, with a revenue of 27,050.77 million yuan - Lisuoer Red series: 3,854.55 tons produced, 3,564.35 tons sold, with a revenue of 9,089.76 million yuan - Se Diao Red series: 3,070.26 tons produced, 2,932.18 tons sold, with a revenue of 7,287.34 million yuan - Yonggu Red series: 2,737.17 tons produced, 2,674.59 tons sold, with a revenue of 17,938.17 million yuan [2] - The average selling prices for the main products from January to June 2025 compared to the same period in 2024 showed the following changes: - Yonggu Huang series: 50,688.20 yuan/ton, down 3.09% - Lisuoer Red series: 25,501.86 yuan/ton, down 1.42% - Se Diao Red series: 24,853.01 yuan/ton, down 2.36% - Yonggu Red series: 67,068.98 yuan/ton, up 0.27% [2] Group 2 - The average purchase prices for key raw materials from January to June 2025 compared to the same period in 2024 are as follows: - Ethyl Naphthol: 11,523.88 yuan/ton, up 4.39% - Liquid Alkali: 977.29 yuan/ton, up 13.90% [2] - There were no other significant matters affecting the company's production and operations during the reporting period [2]
百合花(603823) - 2025 Q2 - 季度财报
2025-08-27 07:55
[Section I Definitions](index=3&type=section&id=Section%20I%20Definitions) This section defines key terms and entities, including 'Baihehua' and its controlling shareholder, ensuring clarity and accurate interpretation of the report's content [Definitions of Common Terms](index=3&type=section&id=Definitions%20of%20Common%20Terms) This section provides definitions of common terms used in the report, clarifying the references for key entities such as 'Baihehua', 'the Company', 'Baihehua Holdings', and the names of major subsidiaries and related organizations, ensuring accurate understanding of the report content - “Baihehua”, “the Company”, “Baihehua Company”, “this Company”, and “this Group” all refer to Baihehua Group Co., Ltd[13](index=13&type=chunk) - “Baihehua Holdings” refers to Baihehua Holdings Co., Ltd., the controlling shareholder of the Company[13](index=13&type=chunk) - The “actual controller of the Company” refers to Chen Lirong[13](index=13&type=chunk) - The report lists several subsidiary names and their abbreviations, such as “Baihehui Baihe”, “Xuancheng Yingte”, and “Yuansheng Zhinai”[13](index=13&type=chunk) [Section II Company Profile and Key Financial Indicators](index=4&type=section&id=Section%20II%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section provides an overview of the company's fundamental information and key financial performance metrics for the reporting period [I. Company Information](index=4&type=section&id=I.%20Company%20Information) This section discloses the company's basic registration information, including its Chinese name, abbreviation, foreign name and abbreviation, and legal representative - The company's Chinese name is Baihehua Group Co., Ltd., abbreviated as Baihehua[15](index=15&type=chunk) - The company's legal representative is Chen Lirong[15](index=15&type=chunk) [II. Contact Person and Contact Information](index=4&type=section&id=II.%20Contact%20Person%20and%20Contact%20Information) This section provides contact details for the company's Board Secretary and Securities Affairs Representative, including names, addresses, phone numbers, faxes, and email addresses, facilitating communication for investors and relevant parties - The Board Secretary is Wang Diming, and the Securities Affairs Representative is Chen Siyu[16](index=16&type=chunk) - The company's contact address is No. 1768, Jingwu Road, Qiantang New Area, Hangzhou City, Zhejiang Province[16](index=16&type=chunk) [III. Brief Introduction to Changes in Basic Information](index=4&type=section&id=III.%20Brief%20Introduction%20to%20Changes%20in%20Basic%20Information) This section outlines the company's registered and office addresses, noting no historical changes during the reporting period - The company's registered and office addresses are both No. 1768, Jingwu Road, Qiantang New Area, Hangzhou City, Zhejiang Province[17](index=17&type=chunk) - There were no historical changes to the company's registered address during the reporting period[17](index=17&type=chunk) [IV. Brief Introduction to Changes in Information Disclosure and Document Storage Locations](index=4&type=section&id=IV.%20Brief%20Introduction%20to%20Changes%20in%20Information%20Disclosure%20and%20Document%20Storage%20Locations) This section lists the company's designated information disclosure newspapers, website address for semi-annual reports, and report storage locations, confirming no changes during the reporting period - The company's selected information disclosure newspapers are "Shanghai Securities News" and "Securities Times"[18](index=18&type=chunk) - The website address for publishing semi-annual reports is www.sse.com.cn[18](index=18&type=chunk) [V. Company Stock Overview](index=4&type=section&id=V.%20Company%20Stock%20Overview) This section provides the company's stock listing information, including stock type, listing exchange, stock abbreviation, and code - The company's stock is A-shares, listed on the Shanghai Stock Exchange, with stock abbreviation Baihehua and stock code 603823[19](index=19&type=chunk) [VII. Key Accounting Data and Financial Indicators](index=4&type=section&id=VII.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) This section summarizes the company's key accounting data and financial indicators for the first half of 2025, showing a decrease in operating revenue and total profit year-on-year, but an increase in non-recurring net profit, indicating overall stable operations 2025 H1 Key Accounting Data | Indicator | Current Reporting Period (Jan-Jun) | Prior Year Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (yuan) | 1,125,359,528.13 | 1,220,985,024.02 | -7.83 | | Total Profit (yuan) | 128,923,536.07 | 137,189,710.31 | -6.03 | | Net Profit Attributable to Shareholders of Listed Company (yuan) | 99,537,011.77 | 100,205,658.70 | -0.67 | | Net Profit Attributable to Shareholders of Listed Company After Deducting Non-Recurring Gains and Losses (yuan) | 95,649,358.03 | 92,368,699.52 | 3.55 | | Net Cash Flow from Operating Activities (yuan) | 73,526,117.11 | 93,752,726.08 | -21.57 | | **Period-End Indicators** | **Current Period-End** | **Prior Year-End** | **Period-End vs. Prior Year-End Change (%)** | | Net Assets Attributable to Shareholders of Listed Company (yuan) | 2,394,013,526.88 | 2,356,931,670.71 | 1.57 | | Total Assets (yuan) | 3,379,387,886.52 | 3,447,435,676.16 | -1.97 | 2025 H1 Key Financial Indicators | Indicator | Current Reporting Period (Jan-Jun) | Prior Year Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (yuan/share) | 0.24 | 0.24 | 0.00 | | Diluted Earnings Per Share (yuan/share) | 0.24 | 0.24 | 0.00 | | Basic Earnings Per Share After Deducting Non-Recurring Gains and Losses (yuan/share) | 0.23 | 0.22 | 4.55 | | Weighted Average Return on Net Assets (%) | 4.17 | 4.47 | Decrease of 0.3 percentage points | | Weighted Average Return on Net Assets After Deducting Non-Recurring Gains and Losses (%) | 4.01 | 4.12 | Decrease of 0.11 percentage points | - The company's overall operating performance was normal during the current reporting period, with financial indicators generally stable compared to the same period last year; the decrease in revenue was primarily due to lower sales volume[22](index=22&type=chunk) [IX. Non-Recurring Gains and Losses Items and Amounts](index=5&type=section&id=IX.%20Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) This section details the company's non-recurring gains and losses for the first half of 2025, primarily including government subsidies, gains/losses from disposal of non-current assets, and fair value changes of financial assets 2025 H1 Non-Recurring Gains and Losses Items | Non-Recurring Gains and Losses Item | Amount (yuan) | | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | -2,540,341.96 | | Government Subsidies Included in Current Profit and Loss | 12,167,351.82 | | Gains/Losses from Changes in Fair Value of Financial Assets and Liabilities Held by Non-Financial Enterprises and Disposal of Financial Assets and Liabilities | -4,058,924.34 | | Other Non-Operating Income and Expenses Apart from the Above Items | 112,105.66 | | Less: Income Tax Impact | 619,082.09 | | Impact on Minority Interests (After Tax) | 1,173,455.35 | | Total | 3,887,653.74 | [Section III Management Discussion and Analysis](index=7&type=section&id=Section%20III%20Management%20Discussion%20and%20Analysis) This section provides an in-depth analysis of the company's industry, business operations, core competencies, and financial performance during the reporting period [I. Industry and Main Business Overview During the Reporting Period](index=7&type=section&id=I.%20Industry%20and%20Main%20Business%20Overview%20During%20the%20Reporting%20Period) This section details the global development trends of the organic pigment industry, its shift from Europe and America to Asia, and China's diversified competitive landscape, highlighting the company's significant market share and involvement in sodium metal production - Global organic pigment production has shifted from Europe and America to Asian countries, primarily China, which has become the world's largest organic pigment producer[28](index=28&type=chunk) - The Chinese organic pigment market exhibits a diversified competitive landscape, with large enterprises dominating the high-end market and small and medium-sized enterprises focusing on mid-to-low-end markets[29](index=29&type=chunk) - The market share of high-performance, environmentally friendly organic pigments is steadily increasing, with companies investing more in R&D to meet downstream industries' demand for high-quality pigments[29](index=29&type=chunk) - The company primarily engages in the production and sale of organic pigments, offering a comprehensive range of product categories and color series, with a production capacity accounting for approximately **10% of the global market**[31](index=31&type=chunk) - The main downstream application areas for organic pigments are inks (**40%**), coatings (**28%**), and plastics (**27%**)[32](index=32&type=chunk) - The company also involves in the production and sale of sodium metal, with Inner Mongolia Yuansheng possessing a **20,000 tons/year** sodium metal capacity, primarily used in indigo dyes (**66.70%**) and pharmaceutical intermediates (**28.80%**)[32](index=32&type=chunk) [II. Discussion and Analysis of Operations](index=8&type=section&id=II.%20Discussion%20and%20Analysis%20of%20Operations) In the first half of 2025, the company actively responded to market changes by adjusting production, iterating new products, centralizing procurement, and implementing lean manufacturing to improve gross profit margins, while strictly controlling expenses and maintaining ample operating cash flow to enhance its anti-cyclical capabilities, also making progress in R&D and safety production 2025 H1 Operating Target Completion | Indicator | 2025 H1 | YoY Change | | :--- | :--- | :--- | | Operating Revenue (ten thousand yuan) | 112,535.95 | Decrease of 7.83% | | Net Profit Attributable to Shareholders of Listed Company (ten thousand yuan) | 9,953.70 | Decrease of 0.67% | | Net Profit Attributable to Shareholders of Listed Company After Deducting Non-Recurring Gains and Losses (ten thousand yuan) | 9,564.94 | Increase of 3.55% | - The company improved gross profit margins through new product iteration, centralized procurement, and lean manufacturing, while also reducing non-essential expenditures and strictly controlling inventory and accounts receivable, maintaining ample operating cash flow[34](index=34&type=chunk) - The company continuously improved its safety production standardization system and dual prevention system, optimized environmental governance, and achieved results in production process optimization and energy saving[35](index=35&type=chunk) - The company continued its R&D investment, obtaining **4 authorized invention patents** in the current period, with Baihehui Baihe obtaining **1 authorized invention patent** and Forward Chemical applying for **1 invention patent**; high-performance photoresist pigments for LCD panels achieved technological breakthroughs and ton-level sales[37](index=37&type=chunk) [III. Analysis of Core Competitiveness During the Reporting Period](index=9&type=section&id=III.%20Analysis%20of%20Core%20Competitiveness%20During%20the%20Reporting%20Period) Leveraging over 30 years of experience, the company has developed core competencies in scale, R&D, technological innovation, key intermediate support, environmental safety, marketing channels, brand, and talent, solidifying its leading position in the organic pigment industry - The company has become a leading enterprise in China's organic pigment industry with comprehensive competitiveness, operating over **50 pigment production lines** and producing more than **200 specifications of pigments**, possessing full-spectrum pigment production capabilities[38](index=38&type=chunk) - The company is a national high-tech enterprise, owning multiple R&D platforms including a national-level enterprise technology center, and has obtained **57 authorized invention patents** and **28 utility model patents**, also leading or participating in the formulation of several industry standards[39](index=39&type=chunk) - The company independently developed and produced various high-performance, environmentally friendly organic pigments, breaking the technological monopoly of global organic pigment suppliers, with high-performance pigments for electronic chemicals now in mass production[40](index=40&type=chunk) - By extending its industrial chain upstream to the intermediate industry, the company self-produces some key intermediates, effectively ensuring the production of high-performance organic pigments and controlling costs[41](index=41&type=chunk) - The company possesses complete waste treatment facilities, was among the first to implement a plant-wide RTO project, and places high importance on safety production, with a central control room and a dedicated emergency fire brigade[42](index=42&type=chunk) - The company has established a comprehensive sales network and customer service system, maintaining good relationships with partners, and has built a market image of high quality, safety, environmental protection, and excellent service within the industry[43](index=43&type=chunk)[44](index=44&type=chunk) - The company boasts a mature and systematic team structure, emphasizing human resource management and employee training, which has fostered an excellent and stable management and business backbone team[45](index=45&type=chunk) [IV. Major Operating Conditions During the Reporting Period](index=10&type=section&id=IV.%20Major%20Operating%20Conditions%20During%20the%20Reporting%20Period) This section analyzes the company's financial statement item changes, asset-liability status, and investment activities during the reporting period, noting decreases in operating revenue and costs, increases in sales and R&D expenses, a decrease in financial expenses due to exchange gains, stable asset-liability structure, and investment primarily in wealth management products [(I) Analysis of Main Business](index=10&type=section&id=(I)%20Analysis%20of%20Main%20Business) During this period, the company's operating revenue and cost both decreased, sales and R&D expenses increased, while administrative and financial expenses decreased, and net cash flow from operating activities declined, with significant changes in net cash flow from investing and financing activities Analysis of Changes in Financial Statement Items | Item | Current Period Amount (yuan) | Prior Year Period Amount (yuan) | Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 1,125,359,528.13 | 1,220,985,024.02 | -7.83 | Decrease in sales volume | | Operating Cost | 883,647,000.93 | 972,373,002.90 | -9.12 | In line with changes in operating revenue | | Selling Expenses | 12,180,207.20 | 10,926,555.97 | 11.47 | Increase in export credit insurance and exhibition fees | | Administrative Expenses | 46,631,483.45 | 51,487,228.97 | -9.43 | Decrease in entertainment and office expenses | | Financial Expenses | -3,964,316.39 | -1,346,789.29 | N/A | Increase in exchange gains | | R&D Expenses | 48,414,640.91 | 40,734,384.76 | 18.85 | Increased R&D investment, new product development | | Net Cash Flow from Operating Activities | 73,526,117.11 | 93,752,726.08 | -21.57 | Increase in settlement by bank acceptance bills | | Net Cash Flow from Investing Activities | -263,199,962.16 | -33,564,555.50 | N/A | Purchase of wealth management products | | Net Cash Flow from Financing Activities | -113,081,183.74 | -128,461,005.45 | N/A | Increase in bank loans | [(III) Analysis of Assets and Liabilities](index=10&type=section&id=(III)%20Analysis%20of%20Assets%20and%20Liabilities) At the end of the reporting period, the company's monetary funds significantly decreased due to the reclassification of structured deposits to trading financial assets; accounts receivable and fixed assets showed slight changes, while construction in progress decreased, and short-term borrowings and contract liabilities varied, with lease liabilities decreasing due to amortization Changes in Assets and Liabilities | Item Name | Current Period-End Amount (yuan) | Current Period-End % of Total Assets | Prior Year-End Amount (yuan) | Prior Year-End % of Total Assets | Change from Prior Year-End (%) | Explanation | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 371,060,891.89 | 10.98 | 651,814,110.90 | 18.91 | -43.07 | Structured deposits reclassified to trading financial assets | | Accounts Receivable | 961,018,534.53 | 28.44 | 921,103,098.34 | 26.72 | 4.33 | | | Inventories | 545,148,698.50 | 16.13 | 552,960,013.34 | 16.04 | -1.41 | | | Fixed Assets | 1,098,686,825.26 | 32.51 | 1,159,738,993.83 | 33.64 | -5.26 | | | Construction in Progress | 3,752,787.75 | 0.11 | 5,412,393.83 | 0.16 | -30.66 | Capitalized | | Right-of-Use Assets | 3,371,219.53 | 0.10 | 4,494,959.37 | 0.13 | -25.00 | Due to amortization | | Short-Term Borrowings | 66,681,346.54 | 1.97 | 57,048,554.51 | 1.65 | 16.89 | | | Contract Liabilities | 2,200,036.55 | 0.07 | 3,045,747.40 | 0.09 | -27.77 | Decrease in advance receipts for goods | | Long-Term Borrowings | 23,028,789.03 | 0.68 | 27,038,489.02 | 0.78 | -14.83 | | | Lease Liabilities | 1,176,264.47 | 0.03 | 2,331,000.66 | 0.07 | -49.54 | Due to amortization | Major Asset Restrictions at Period-End | Item | Year-End Carrying Amount (yuan) | Reason for Restriction | | :--- | :--- | :--- | | Notes Receivable | 308,013,906.76 | Notes receivable endorsed or discounted but not derecognized at period-end | | Other Monetary Funds | 18,306,500.00 | Acceptance deposit | | Total | 326,320,406.76 | | [(IV) Analysis of Investment Status](index=11&type=section&id=(IV)%20Analysis%20of%20Investment%20Status) The company's external equity investments primarily include an investment in Hushan Bank with a 3.75% stake, while accounts receivable financing increased for financial assets measured at fair value, and other non-current financial assets were adjusted downwards due to investment losses in Inner Mongolia Meilijian New Materials Co., Ltd Overall Analysis of External Equity Investments | Investee | Main Business | Investment Cost (yuan) | Period-End Balance (yuan) | Shareholding Ratio in Investee | | :--- | :--- | :--- | :--- | :--- | | Hushan Bank | Deposits, loans, bank settlements | 9,450,000.00 | 9,450,000.00 | 3.75% | Changes in Financial Assets Measured at Fair Value | Asset Category | Beginning Balance (yuan) | Fair Value Change Gain/Loss for Current Period (yuan) | Current Period Purchase Amount (yuan) | Period-End Balance (yuan) | | :--- | :--- | :--- | :--- | :--- | | Accounts Receivable Financing | 20,939,647.26 | | 36,316,970.33 | 57,256,617.59 | | Other Non-Current Financial Assets | 15,070,000.00 | -5,620,000.00 | | 9,450,000.00 | | Total | 36,009,647.26 | -5,620,000.00 | 36,316,970.33 | 66,706,617.59 | - The increase in other non-current financial assets at the end of the period, specifically the equity investment in Inner Mongolia Meilijian New Materials Co., Ltd., uses its semi-annual report data as the fair value reference[54](index=54&type=chunk) [(VI) Analysis of Major Holding and Participating Companies](index=13&type=section&id=(VI)%20Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) This section presents the financial data of the company's major holding subsidiaries, including total assets, net assets, operating revenue, operating profit, and net profit, reflecting each subsidiary's operational contribution Financial Data of Major Holding Subsidiaries (Unit: ten thousand yuan) | Company Name | Company Type | Main Business | Registered Capital | Total Assets | Net Assets | Operating Revenue | Operating Profit | Net Profit | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Baihehui Baihe | Subsidiary | Production and sales of pigments | 5,980.00 | 38,985.16 | 24,492.10 | 27,135.70 | 2,971.58 | 2,692.18 | | Xuancheng Yingte | Subsidiary | Production and sales of pigments | 5,000.00 | 24,024.60 | 19,252.07 | 9,857.23 | 661.92 | 484.37 | | Yuansheng Zhinai | Subsidiary | Production and sales of sodium metal | 8,000.00 | 24,018.10 | 436.03 | 6,415.67 | -754.18 | -745.18 | | Forward Chemical | Subsidiary | Pearlescent pigments | 2,700.00 | 11,820.17 | 10,725.42 | 3,399.80 | 445.75 | 438.28 | [V. Other Disclosure Matters](index=14&type=section&id=V.%20Other%20Disclosure%20Matters) This section details eight potential risks faced by the company, including industry market competition, cyclical fluctuations in downstream industries, raw material price volatility, exchange rate fluctuations, environmental risks, production safety, international trade, and new business operational experience risks, advising investors to be aware of these factors - The company faces industry market competition risks, as the domestic organic pigment industry has low concentration, severe product homogeneity, and intense market competition[56](index=56&type=chunk) - The company's performance is directly related to the prosperity of downstream industries such as inks, coatings, and plastics, posing a risk of cyclical fluctuations in these industries[57](index=57&type=chunk) - Raw material costs account for a high proportion of the main business costs (**over 70%**), indicating that raw material price fluctuations have a significant impact on the company's profitability[58](index=58&type=chunk) - The company's product exports are primarily settled in US dollars, and significant fluctuations in the RMB exchange rate could have a substantial impact on operating revenue and profit[59](index=59&type=chunk) - The company produces fine chemical products, entailing environmental risks such as potential pollution from unforeseen incidents or improper handling, or increased expenses due to stricter environmental regulations[60](index=60&type=chunk) - The company's production involves chemicals, posing risks of safety accidents due to improper operations, equipment failures, or adverse effects from non-compliance with regulatory requirements[61](index=61&type=chunk) - The company faces international trade risks due to the influence of political environments, economic conditions, trade regulations, tariff levels, and unforeseen international events in overseas markets[62](index=62&type=chunk) - The company has relatively limited operational experience in new material fields, facing uncertainties in policy, market, technology, production, and sales, which presents a risk that new business operations may not meet expectations[63](index=63&type=chunk)[64](index=64&type=chunk) [Section IV Corporate Governance, Environment, and Society](index=16&type=section&id=Section%20IV%20Corporate%20Governance,%20Environment,%20and%20Society) This section covers changes in the company's board and senior management, profit distribution plans, and environmental information disclosure, highlighting governance and social responsibility aspects [I. Changes in Company Directors and Senior Management](index=16&type=section&id=I.%20Changes%20in%20Company%20Directors%20and%20Senior%20Management) During the reporting period, the company's board of directors saw changes, with Chen Weizhong and Gao Jianjiang resigning due to personal reasons, and Xuanyong Jun and Chen Yang elected as new directors - Chen Weizhong and Gao Jianjiang resigned from their director positions on May 20, 2025[67](index=67&type=chunk) - Xuanyong Jun was democratically elected as an employee representative director for the company's fifth board of directors[67](index=67&type=chunk) - Chen Yang was approved by the board of directors to serve as a non-independent director for the company's fifth board of directors[67](index=67&type=chunk) [II. Profit Distribution or Capital Reserve Conversion Plan](index=16&type=section&id=II.%20Profit%20Distribution%20or%20Capital%20Reserve%20Conversion%20Plan) This section states that the company's semi-annual profit distribution or capital reserve conversion plan is "not applicable," meaning no distribution or conversion will occur - The company's proposed semi-annual profit distribution or capital reserve conversion plan is “No,” indicating no distribution or conversion[68](index=68&type=chunk) [IV. Environmental Information of Listed Companies and Their Major Subsidiaries Included in the List of Enterprises Required to Disclose Environmental Information by Law](index=17&type=section&id=IV.%20Environmental%20Information%20of%20Listed%20Companies%20and%20Their%20Major%20Subsidiaries%20Included%20in%20the%20List%20of%20Enterprises%20Required%20to%20Disclose%20Environmental%20Information%20by%20Law) This section lists the company and its six major subsidiaries included in the list of enterprises required to disclose environmental information by law, providing inquiry indexes and demonstrating the company's compliance with environmental information disclosure - The company and **6 major subsidiaries** are included in the list of enterprises required to disclose environmental information by law[70](index=70&type=chunk)[71](index=71&type=chunk) - Inquiry indexes for each enterprise's environmental information disclosure report are provided, primarily accessible through the ecological environment department's enterprise environmental information disclosure systems in Zhejiang, Hubei, Inner Mongolia, and Anhui[70](index=70&type=chunk)[72](index=72&type=chunk) [Section V Important Matters](index=19&type=section&id=Section%20V%20Important%20Matters) This section details the fulfillment of commitments made by the company's actual controller, controlling shareholder, directors, and senior management, and discloses significant related-party transactions and major guarantees [I. Fulfillment of Commitments](index=19&type=section&id=I.%20Fulfillment%20of%20Commitments) This section details the fulfillment of various commitments made by the company's actual controller, controlling shareholder, directors, and senior management during initial public offerings and refinancing, including share lock-ups, avoidance of horizontal competition, reduction of related-party transactions, and measures to mitigate dilution of immediate returns, all of which have been strictly and timely fulfilled - The company's actual controller, director, and general manager Chen Lirong and his son Chen Pengfei committed to a **36-month share lock-up** and to transfer no more than **25% of their shares annually** during their tenure[75](index=75&type=chunk)[77](index=77&type=chunk) - The company's controlling shareholder, Baihehua Holdings, committed to a **36-month share lock-up**, with a share reduction price not lower than the issue price within two years after the lock-up period expires, and an annual reduction quantity not exceeding **10% of the total shares held** at the end of the previous year[75](index=75&type=chunk)[78](index=78&type=chunk)[80](index=80&type=chunk) - The company's directors, supervisors, and senior management committed to a **12-month share lock-up** and to transfer no more than **25% of their shares annually** during their tenure[75](index=75&type=chunk)[79](index=79&type=chunk) - The company's controlling shareholder and actual controller committed to avoid horizontal competition and to take measures to withdraw from businesses that might constitute competition[76](index=76&type=chunk)[81](index=81&type=chunk) - The company's actual controller and controlling shareholder committed to minimize related-party transactions and ensure the fairness of transaction prices[76](index=76&type=chunk)[82](index=82&type=chunk) - The company and relevant parties implemented measures to mitigate the dilution of immediate returns and committed not to harm the company's interests, with compensation systems linked to these return-filling measures[76](index=76&type=chunk)[83](index=83&type=chunk)[84](index=84&type=chunk)[85](index=85&type=chunk) - All commitment matters have been fulfilled strictly and timely, with no instances of failure to fulfill them on time[75](index=75&type=chunk)[76](index=76&type=chunk) [X. Significant Related-Party Transactions](index=25&type=section&id=X.%20Significant%20Related-Party%20Transactions) This section discloses the company's routine operating related-party transactions during the reporting period, including sales of pigments and intermediates, procurement of goods, payment of property lease fees, and collection of electricity fees, listing major related parties and their transaction amounts - In the company's projected related-party transactions for 2025, the sales quota for pigments is **720 million yuan**, and for intermediates is **60 million yuan**[89](index=89&type=chunk) - As of June 30, 2025, the company had achieved pigment sales of **174.5204 million yuan** and intermediate sales of **5.4762 million yuan**[89](index=89&type=chunk) Routine Related-Party Transactions Not Disclosed in Temporary Announcements (Unit: yuan) | Related Party | Related Relationship | Related Transaction Type | Related Transaction Content | Related Transaction Amount | | :--- | :--- | :--- | :--- | :--- | | Heubach Pigments (Shanghai) Co., Ltd. | Sales of pigments | Sales of goods | Sales of pigments | 91,783,898.17 | | Heubach Colorants Singapore Pte. Ltd. | Sales of pigments | Sales of goods | Sales of pigments | 70,566,717.32 | | Heubach Colorants Germany GmbH | Sales of intermediates | Sales of goods | Sales of intermediates | 5,476,227.38 | | Zhejiang Baihe Hangtai Composite Materials Co., Ltd. | Group sister company | Collection of utility fees | Collection of utility fees | 806,432.96 | | Zhejiang Baihe Industrial Group Co., Ltd. | Group sister company | Lease-in | Property lease-in | 1,192,660.56 | | Total | / | / | / | 181,995,679.77 | [XI. Major Contracts and Their Fulfillment](index=27&type=section&id=XI.%20Major%20Contracts%20and%20Their%20Fulfillment) This section discloses the company's major guarantees, both fulfilled and unfulfilled, during the reporting period, primarily guarantees for subsidiaries, with the total guarantee amount representing **9.32%** of the company's net assets Company Guarantees for Subsidiaries (Unit: ten thousand yuan) | Guaranteed Party | Guarantee Amount | Guarantee Start Date | Guarantee End Date | Has Guarantee Been Fulfilled | | :--- | :--- | :--- | :--- | :--- | | Inner Mongolia Yuansheng Zhinai Technology Co., Ltd. | 10,000.00 | March 1, 2021 | December 21, 2025 | No | | Inner Mongolia Yuansheng Zhinai Technology Co., Ltd. | 3,000.00 | December 28, 2021 | December 28, 2026 | No | | Hubei Caili New Materials Co., Ltd. | 1,000.00 | March 12, 2025 | March 12, 2028 | No | | Hubei Caili New Materials Co., Ltd. | 8,300.00 | March 23, 2023 | March 22, 2028 | No | | Total Guarantee Amount for Subsidiaries During Reporting Period | 22,300.00 | | | | | Total Guarantee Balance for Subsidiaries at Period-End (B) | 22,300.00 | | | | | Total Guarantee Amount (A+B) | 22,300.00 | | | | | Total Guarantee Amount as % of Company's Net Assets | 9.32 | | | | [Section VI Changes in Shares and Shareholder Information](index=29&type=section&id=Section%20VI%20Changes%20in%20Shares%20and%20Shareholder%20Information) This section details the company's share capital changes and shareholder structure, including the total number of shareholders and the top ten shareholders, along with their restricted and unrestricted shareholdings and related-party relationships [I. Changes in Share Capital](index=29&type=section&id=I.%20Changes%20in%20Share%20Capital) During the reporting period, there were no changes in the company's total share capital or share capital structure - During the reporting period, there were no changes in the company's total share capital or share capital structure[97](index=97&type=chunk) [II. Shareholder Information](index=29&type=section&id=II.%20Shareholder%20Information) This section discloses the total number of shareholders, the top ten shareholders, and the top ten unrestricted shareholders at the end of the reporting period, along with the related-party relationships among major shareholders - As of the end of the reporting period, the total number of common shareholders was **25,020**[98](index=98&type=chunk) Top Ten Shareholders' Shareholdings (as of period-end) | Shareholder Name | Period-End Shareholding (shares) | Percentage (%) | Number of Restricted Shares Held (shares) | Share Status | Quantity (shares) | Shareholder Nature | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Baihehua Holdings Co., Ltd. | 263,941,361 | 63.39 | | Pledged | 18,000,000 | Domestic Non-State-Owned Legal Person | | Chen Lirong | 17,025,563 | 4.09 | 5,336,200 | Unrestricted | | Domestic Natural Person | | Chen Pengfei | 5,844,683 | 1.40 | | Unrestricted | | Domestic Natural Person | | Chen Weizhong | 3,506,809 | 0.84 | | Unrestricted | | Domestic Natural Person | | Shen Huatang | 2,890,000 | 0.69 | | Unrestricted | | Domestic Natural Person | | Zhang Junbiao | 2,777,836 | 0.67 | | Unrestricted | | Domestic Natural Person | | Zhu Jiafeng | 2,343,300 | 0.56 | | Unrestricted | | Domestic Natural Person | | Wang Diming | 2,337,872 | 0.56 | | Unrestricted | | Domestic Natural Person | | Su Ling | 1,350,040 | 0.32 | | Unrestricted | | Domestic Natural Person | | Li Hu | 1,254,800 | 0.30 | | Unrestricted | | Domestic Natural Person | - Chen Lirong and Chen Pengfei hold **40%** and **35%** of the shares in the issuer's controlling shareholder, Baihehua Holdings, respectively, and Chen Lirong and Chen Pengfei are father and son[101](index=101&type=chunk) Top Ten Restricted Shareholders' Shareholdings and Restrictions | No. | Name of Restricted Shareholder | Number of Restricted Shares Held (shares) | Date Available for Trading | Restriction Condition | | :--- | :--- | :--- | :--- | :--- | | 1 | Chen Lirong | 5,336,200 | January 12, 2026 | Private placement restriction | [Section VII Bond-Related Information](index=32&type=section&id=Section%20VII%20Bond-Related%20Information) This section states that the company had no corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments, nor convertible corporate bonds, during the reporting period - The company had no corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments during the reporting period[106](index=106&type=chunk) - The company had no convertible corporate bonds during the reporting period[106](index=106&type=chunk) [Section VIII Financial Report](index=33&type=section&id=Section%20VIII%20Financial%20Report) This section presents the company's comprehensive financial statements for the first half of 2025, including balance sheets, income statements, cash flow statements, and statements of changes in owners' equity, along with detailed notes on accounting policies, taxes, and financial items [II. Financial Statements](index=33&type=section&id=II.%20Financial%20Statements) This section provides the company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity for the first half of 2025, comprehensively presenting the company's financial position, operating results, and cash flow situation - The consolidated balance sheet shows total assets of **3.379 billion yuan**, total liabilities of **795.23 million yuan**, and total equity attributable to parent company owners of **2.394 billion yuan** at period-end[108](index=108&type=chunk)[110](index=110&type=chunk) - The consolidated income statement shows total operating revenue of **1.125 billion yuan** and net profit attributable to parent company shareholders of **99.54 million yuan** for the current period[115](index=115&type=chunk)[116](index=116&type=chunk) - The consolidated cash flow statement shows net cash flow from operating activities of **73.53 million yuan**, net cash flow from investing activities of **-263.20 million yuan**, and net cash flow from financing activities of **-113.08 million yuan**[123](index=123&type=chunk) [III. Company Basic Information](index=53&type=section&id=III.%20Company%20Basic%20Information) This section introduces Baihehua Group Co., Ltd.'s establishment date, registered location, listing information, and share capital changes, clarifying its main business as the production, R&D, and sales of organic pigments and intermediates - Baihehua Group Co., Ltd. was established on August 11, 1995, with its registered office in Hangzhou, Zhejiang Province[137](index=137&type=chunk) - The company's A-shares were listed on the Shanghai Stock Exchange on December 20, 2016[138](index=138&type=chunk) - The company's total share capital changed from **412,160,476 shares** to **417,496,676 shares**, then decreased by **1,128,972 shares** due to the repurchase and cancellation of restricted shares, ultimately becoming **416,367,704 shares**[138](index=138&type=chunk)[139](index=139&type=chunk) - The company's main business is the production, R&D, and sales of organic pigments and intermediates, with primary products including high-performance heterocyclic pigments, high-performance azo pigments, traditional azo pigments, organic pigment intermediates, and pearlescent pigments[139](index=139&type=chunk) [IV. Basis for Preparation of Financial Statements](index=53&type=section&id=IV.%20Basis%20for%20Preparation%20of%20Financial%20Statements) This section states that the company's financial statements are prepared in accordance with "Enterprise Accounting Standards" and related regulations, presented on a going concern basis, with no significant doubts about its ability to continue as a going concern identified - The Group's financial statements are prepared in accordance with the "Enterprise Accounting Standards" promulgated by the Ministry of Finance, its application guidelines, interpretations, and other relevant regulations[140](index=140&type=chunk) - These financial statements are presented on a going concern basis, and no significant doubts or circumstances regarding the ability to continue as a going concern have been identified[141](index=141&type=chunk) [V. Significant Accounting Policies and Accounting Estimates](index=54&type=section&id=V.%20Significant%20Accounting%20Policies%20and%20Accounting%20Estimates) This section details the significant accounting policies and estimates followed by the company in preparing its financial statements, covering financial instruments, inventories, fixed assets, intangible assets, revenue recognition, and government grants, ensuring the truthfulness, accuracy, and completeness of financial information - These financial statements comply with the requirements of enterprise accounting standards, truthfully, accurately, and completely reflecting the company's financial position, operating results, and cash flows[142](index=142&type=chunk)[143](index=143&type=chunk) - The company's accounting year runs from January 1 to December 31 of the Gregorian calendar, with a 12-month operating cycle[144](index=144&type=chunk)[145](index=145&type=chunk) - Regarding the classification and measurement of financial instruments, the company classifies financial assets as measured at amortized cost, at fair value through other comprehensive income, or at fair value through profit or loss, based on business models and contractual cash flow characteristics[159](index=159&type=chunk) - For accounts receivable, notes receivable, accounts receivable financing, contract assets, and other receivables, the company applies a simplified measurement method, measuring loss provisions at an amount equal to the expected credit losses over the entire lifetime[171](index=171&type=chunk) - Inventories are valued at the lower of cost or net realizable value, with actual cost determined using the weighted average method, and inventory impairment provisions are recognized[189](index=189&type=chunk) - Fixed assets are depreciated using the straight-line method, with estimated useful lives, estimated net residual values, and depreciation methods reviewed at each year-end[202](index=202&type=chunk)[203](index=203&type=chunk) - Intangible assets are amortized on a straight-line basis over the shortest of their estimated useful lives, contractually stipulated benefit periods, or legally prescribed effective periods[207](index=207&type=chunk)[208](index=208&type=chunk) - The company recognizes revenue when customers obtain control of the related goods or services, distinguishing between performance obligations fulfilled over time or at a point in time based on their nature[224](index=224&type=chunk)[225](index=225&type=chunk) [VI. Taxes](index=75&type=section&id=VI.%20Taxes) This section lists the company's main tax categories and rates, detailing the corporate income tax preferential policies and VAT input tax deduction policies enjoyed by the company and its subsidiaries Main Tax Categories and Rates | Tax Category | Tax Basis | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax | Value-added from sales of goods | 13%, 9%, 6% | | Urban Maintenance and Construction Tax | Amount of turnover tax paid | 7%, 5% | | Corporate Income Tax | Taxable income | 25%, 20%, 15% | | Education Surcharge | Amount of turnover tax paid | 3% | | Local Education Surcharge | Amount of turnover tax paid | 2% | | Property Tax | 70% of original property value | 1.2% | | Land Use Tax | Levied based on land area used | 1.6-11 yuan/year/square meter | - Baihehua Group Co., Ltd., Hangzhou Baihehui Baihe Pigment Co., Ltd., and Hangzhou Forward Fine Chemical Co., Ltd. have all passed high-tech enterprise certification, enjoying a preferential corporate income tax rate of **15%**[252](index=252&type=chunk) - The export tax rebate rate for the company's organic pigment products increased from **0% to 13%**, effective from March 20, 2020[253](index=253&type=chunk) - The company and some subsidiaries enjoy a **5% VAT input tax deduction** policy for advanced manufacturing enterprises, as well as corporate income tax preferential policies for small and micro-profit enterprises[253](index=253&type=chunk)[254](index=254&type=chunk) [VII. Notes to Consolidated Financial Statement Items](index=77&type=section&id=VII.%20Notes%20to%20Consolidated%20Financial%20Statement%20Items) This section provides detailed notes on major asset, liability, owner's equity, revenue, cost, and expense items in the consolidated financial statements, including period-end balances, beginning balances, changes, and related explanations, offering specific data to understand the company's financial position and operating results Period-End Balance of Monetary Funds | Item | Period-End Balance (yuan) | | :--- | :--- | | Cash on Hand | 52,038.36 | | Bank Deposits | 352,702,353.53 | | Other Monetary Funds | 18,306,500.00 | | Total | 371,060,891.89 | Period-End Balance of Trading Financial Assets | Item | Period-End Balance (yuan) | | :--- | :--- | | Structured Deposits | 248,220,000.00 | | Total | 248,220,000.00 | Period-End Carrying Amount of Accounts Receivable | Age | Period-End Carrying Balance (yuan) | | :--- | :--- | | Within 1 year (inclusive) | 490,169,416.30 | | 1 to 2 years | 9,562,387.39 | | 2 to 3 years | 269,742.94 | | Over 3 years | 1,997,724.92 | | Total | 501,999,271.55 | Operating Revenue and Operating Cost (Current Period Amount) | Item | Revenue (yuan) | Cost (yuan) | | :--- | :--- | :--- | | Main Business | 1,113,391,598.14 | 874,695,508.14 | | Other Business | 11,967,929.99 | 8,951,492.79 | | Total | 1,125,359,528.13 | 883,647,000.93 | R&D Expenses (Current Period Amount) | Item | Current Period Amount (yuan) | | :--- | :--- | | Nanometer-grade high-performance organic pigment quinacridone yellow 138 | 6,744,325.75 | | Environmentally friendly plastic coloring special organic pigment Permanent Orange BHO347 | 3,551,219.64 | | Food contact grade safe and environmentally friendly organic pigment Golden Light Red 5327 | 2,571,600.00 | | Water-based inkjet high-performance organic pigment Yellow 180 | 9,374,605.22 | | Safe and environmentally friendly Permanent Red BHR4813 | 6,156,623.14 | | Total | 48,414,640.91 | Investment Income (Current Period Amount) | Item | Current Period Amount (yuan) | | :--- | :--- | | Bank wealth management income | 1,561,075.66 | | Total | 1,561,075.66 | [VIII. R&D Expenditures](index=128&type=section&id=VIII.%20R%26D%20Expenditures) This section discloses the company's R&D expenditures during the reporting period, all of which were expensed, primarily for research and development projects related to various high-performance organic pigments, environmentally friendly pigments, and lithium battery materials R&D Expenditures by Expense Nature | Item | Current Period Amount (yuan) | | :--- | :--- | | R&D Expenses | 48,414,640.91 | | Total | 48,414,640.91 | | Of which: Expensed R&D expenditures | 48,414,640.91 | | Capitalized R&D expenditures | 0 | - R&D expenditures were primarily allocated to multiple projects, including nanometer-grade high-performance organic pigments, environmentally friendly plastic coloring special organic pigments, food contact grade safe and environmentally friendly organic pigments, and inkjet-grade high-performance organic pigments[390](index=390&type=chunk)[391](index=391&type=chunk) [IX. Changes in Consolidation Scope](index=129&type=section&id=IX.%20Changes%20in%20Consolidation%20Scope) This section states that during the reporting period, the company did not experience any changes in its consolidation scope, such as business combinations under common control, business combinations not under common control, reverse acquisitions, or disposal of subsidiaries leading to loss of control - During the reporting period, the company did not experience any business combinations not under common control[430](index=430&type=chunk) - During the reporting period, the company did not experience any business combinations under common control[430](index=430&type=chunk) - During the reporting period, the company did not experience any reverse acquisitions[431](index=431&type=chunk) - During the reporting period, the company did not experience any transactions or events leading to the loss of control over subsidiaries[431](index=431&type=chunk) [X. Interests in Other Entities](index=131&type=section&id=X.%20Interests%20in%20Other%20Entities) This section outlines the company's group structure, including the registered location, business nature, registered capital, shareholding ratio, and establishment method of each subsidiary, and discloses key financial information for significant non-wholly owned subsidiaries Composition of Enterprise Group (Major Subsidiaries) | Company Name | Registered Location | Registered Capital (ten thousand yuan) | Business Nature | Direct Shareholding Ratio (%) | Establishment Method | | :--- | :--- | :--- | :--- | :--- | :--- | | Hangzhou Caili Chemical Co., Ltd. | Hangzhou Xiaoshan | 500.00 | Trading | 100.00 | Directly established | | Xuancheng Yingte Pigment Co., Ltd. | Anhui Xuancheng | 5,000.00 | Production, sales | 100.00 | Directly established | | Hangzhou Baihehui Baihe Pigment Co., Ltd. | Hangzhou Xiaoshan | 5,980.00 | Production, sales | 51.00 | Directly established | | Inner Mongolia Yuansheng Zhinai Technology Co., Ltd. | Inner Mongolia | 8,000.00 | Production, sales | 80.00 | Directly established | | Hubei Caili New Materials Co., Ltd. | Hubei Yingcheng | 3,312.50 | Production, sales | 68.00 | Business combination not under common control | Financial Information of Significant Non-Wholly Owned Subsidiaries (Current Period Amount, Unit: yuan) | Subsidiary Name | Minority Shareholding Ratio (%) | Current Period Profit/Loss Attributable to Minority Shareholders | Dividends Declared to Minority Shareholders in Current Period | Period-End Minority Interest Balance | | :--- | :--- | :--- | :--- | :--- | | Baihehui Baihe | 49 | 13,335,334.10 | 30,643,864.11 | 123,855,244.46 | Asset and Liability Status of Significant Non-Wholly Owned Subsidiaries (Period-End Balance, Unit: yuan) | Subsidiary Name | Current Assets | Non-Current Assets | Total Assets | Current Liabilities | Non-Current Liabilities | Total Liabilities | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Baihehui Baihe | 315,340,715.91 | 74,510,846.90 | 389,851,562.81 | 144,461,779.73 | 468,749.76 | 144,930,529.49 | [XI. Government Grants](index=134&type=section&id=XI.%20Government%20Grants) This section discloses the company's government grant liability items and the amounts of government grants recognized in current profit or loss during the reporting period, primarily comprising amortization of asset-related deferred income and income-related grants Liability Items Involving Government Grants (Unit: yuan) | Financial Statement Item | Beginning Balance | New Grants in Current Period | Amount Included in Non-Operating Income in Current Period | Transferred to Other Income in Current Period | Other Changes in Current Period | Period-End Balance | Asset/Income Related | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Deferred Income | 49,777,502.35 | | | 3,638,796.04 | | 46,138,706.31 | Asset-related | | Total | 49,777,502.35 | | | 3,638,796.04 | | 46,138,706.31 | / | Government Grants Included in Current Profit or Loss (Unit: yuan) | Type | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Income-related | 8,528,555.78 | 7,491,432.32 | | Asset-related | 3,638,796.04 | 3,414,330.54 | | Total | 12,167,351.82 | 10,905,762.86 | [XII. Risks Related to Financial Instruments](index=135&type=section&id=XII.%20Risks%20Related%20to%20Financial%20Instruments) This section details the financial instrument risks faced by the company, including market risks (exchange rate, interest rate, price risks), credit risk, and liquidity risk, along with the policies and measures implemented to manage these risks - The company faces exchange rate risk, primarily related to the US dollar and Euro, and closely monitors exchange rate fluctuations' impact on operating performance[441](index=441&type=chunk)[442](index=442&type=chunk) - The company's interest rate risk primarily stems from bank borrowings, with interest-bearing debt mainly consisting of RMB-denominated fixed-rate loan contracts[444](index=444&type=chunk) - The company faces price risk arising from fluctuations in product sales prices and raw material procurement prices[445](index=445&type=chunk) - The company manages credit risk through credit limits, credit approval, and monitoring procedures to ensure the recovery of overdue receivables, believing that credit risk has been significantly reduced[446](index=446&type=chunk) - The company's primary criteria for judging a significant increase in credit risk include a rise in the probability of default over the remaining lifetime exceeding a certain percentage compared to initial recognition, or significant adverse changes in the debtor's operating environment or credit rating[448](index=448&type=chunk) - The company's primary criteria for judging credit impairment include overdue days exceeding **90 days**, or internal/external information indicating the inability to fully recover the contract amount[450](index=450&type=chunk) - The company manages liquidity risk by regularly analyzing debt structure and maturity, monitoring bank loan utilization, and negotiating financing with financial institutions[452](index=452&type=chunk) Financial Asset Transfer Status (Unit: yuan) | Transfer Method | Nature of Transferred Financial Assets | Amount of Transferred Financial Assets | Derecognition Status | Basis for Derecognition Judgment | | :--- | :--- | :--- | :--- | :--- | | Bill endorsement or discounting | Undue bank acceptance bills in notes receivable | 308,013,906.76 | Not derecognized | Bank acceptance bills with general credit ratings, credit risk and deferred payment risk not yet transferred | | Bill endorsement or discounting | Undue bank acceptance bills in accounts receivable financing | 196,370,671.43 | Derecognized | Bank acceptance bills with high credit ratings, credit risk and deferred payment risk are very small, interest rate risk has been transferred | [XIII. Disclosure of Fair Value](index=139&type=section&id=XIII.%20Disclosure%20of%20Fair%20Value) This section discloses the period-end fair value of the company's assets and liabilities measured at fair value, primarily including accounts receivable financing and other non-current financial assets, and explains the valuation techniques and key parameters used for Level 3 fair value measurement items Total Assets Continuously Measured at Fair Value (Period-End, Unit: yuan) | Item | Level 2 Fair Value Measurement | Level 3 Fair Value Measurement | Total | | :--- | :--- | :--- | :--- | | Other Debt Investments | 57,256,617.59 | | 57,256,617.59 | | Other Non-Current Financial Assets | | 9,450,000.00 | 9,450,000.00 | | Total Assets Continuously Measured at Fair Value | 57,256,617.59 | 9,450,000.00 | 66,706,617.59 | - Accounts receivable financing consists of bank acceptance bills with high credit ratings, for which the face amount is considered a reasonable estimate of fair value[463](index=463&type=chunk) - Other non-current financial assets, specifically the equity investment in Zhejiang Xiaoshan Hushan Rural Commercial Bank Co., Ltd., use the acquisition cost as the best estimate of fair value due to insufficient recent fair value information[463](index=463&type=chunk) [XIV. Related Parties and Related-Party Transactions](index=141&type=section&id=XIV.%20Related%20Parties%20and%20Related-Party%20Transactions) This section comprehensively discloses the company's parent company, subsidiaries, other related parties, and various related-party transactions during the reporting period, including purchases and sales of goods, provision of services, related-party leases, related-party guarantees, and key management personnel compensation, along with outstanding receivables and payables from related parties - The company's parent company is Baihehua Holdings Co., Ltd., holding **63.39%** of both shares and voting rights, with Chen Lirong as the ultimate controlling party[466](index=466&type=chunk) - Other related parties include Heubach Holding Switzerland AG and its controlled subsidiaries, as well as companies controlled by the company's actual controller, Chen Lirong[466](index=466&type=chunk)[467](index=467&type=chunk) Related-Party Transactions for Purchase/Acceptance of Goods/Services (Current Period Amount, Unit: yuan) | Related Party | Related Transaction Content | Current Period Amount | | :--- | :--- | :--- | | Suzhou Meilijian Sales Co., Ltd. | Purchase of goods | 6,837,402.67 | | Total | | 6,837,402.67 | Related-Party Transactions for Sale of Goods/Provision of Services (Current Period Amount, Unit: yuan) | Related Party | Related Transaction Content | Current Period Amount | | :--- | :--- | :--- | | Heubach Pigments (Shanghai) Co., Ltd. | Sales of pigments | 91,783,898.17 | | Heubach Colorants Singapore Pte. Ltd. | Sales of pigments | 70,566,717.32 | | Heubach Colorants Germany GmbH | Sales of intermediates | 5,476,227.38 | | Zhejiang Baihe Hangtai Composite Materials Co., Ltd. | Collection of utility fees | 806,432.96 | | Total | | 180,803,019.20 | Related-Party Leases as Lessee (Current Period Amount, Unit: yuan) | Lessor Name | Type of Leased Asset | Rent Paid | | :--- | :--- | :--- | | Baihe Industrial | Office building lease | 1,300,000.00 | Related-Party Guarantees as Guarantor (Unit: ten thousand yuan) | Guaranteed Party | Guarantee Amount | Has Guarantee Been Fulfilled | | :--- | :--- | :--- | | Inner Mongolia Yuansheng Zhinai Technology Co., Ltd. | 10,000.00 | No | | Hubei Caili New Materials Co., Ltd. | 8,300.00 | No | Key Management Personnel Compensation (Unit: ten thousand yuan) | Item | Current Period Amount | | :--- | :--- | | Key management personnel compensation | 282.05 | Receivables from Related Parties (Period-End Balance, Unit: yuan) | Item Name | Related Party | Carrying Balance | | :--- | :--- | :--- | | Accounts Receivable | Heubach Pigments (Shanghai) Co., Ltd. | 41,770,087.98 | | Accounts Receivable | Heubach Colorants Singapore Pte. Ltd. | 23,613,239.87 | | Accounts Receivable | Heubach Colorants Germany GmbH | 12,196,078.19 | | Total | | 80,274,703.67 | Payables to Related Parties (Period-End Balance, Unit: yuan) | Item Name | Related Party | Carrying Balance | | :--- | :--- | :--- | | Accounts Payable | Heubach GmbH | 3,547,050.51 | | Accounts Payable | Suzhou Meilijian Sales Co., Ltd. | 49,168.20 | | Total | | 4,148,693.58 | [XV. Share-Based Payment](index=147&type=section&id=XV.%20Share-Based%20Payment) This section states that during the reporting period, the company had no equity instruments, equity-settled share-based payments, cash-settled share-based payments, share-based payment expenses, or modifications/terminations of share-based payments - During the reporting period, the company had no equity instruments, equity-settled share-based payments, cash-settled share-based payments, share-based payment expenses, or modifications/terminations of share-based payments[486](index=486&type=chunk) [XVI. Commitments and Contingencies](index=147&type=section&id=XVI.%20Commitments%20and%20Contingencies) This section discloses the company's significant commitments as of the end of the reporting period, primarily capital contribution commitments to subsidiaries, and states that there are no other significant contingent matters requiring disclosure Committed and Unpaid Capital Contributions (as of June 30, 2025, Unit: ten thousand yuan) | Company Name | Subscribed Capital | Subscribed Ratio (%) | Paid-in Amount | Unpaid Capital Amount | | :--- | :--- | :--- | :--- | :--- | | Hangzhou Baihe Environmental Technology Co., Ltd. | 1,000.00 | 100.00 | 311.00 | 689.00 | | Hangzhou Baihe Fila Technology Co., Ltd. | 1,200.00 | 60.00 | 600.00 | 600.00 | | Total | 2,200.00 | | 911.00 | 1,289.00 | - The company has no significant contingent matters requiring disclosure[488](index=488&type=chunk) [XVII. Post-Balance Sheet Events](index=148&type=section&id=XVII.%20Post-Balance%20Sheet%20Events) This section states that no significant non-adjusting events, profit distribution, or sales returns occurred between the reporting period-end and the approval date of the financial report - No significant non-adjusting events occurred after the reporting period[489](index=489&type=chunk) - No profit distribution occurred after the reporting period[489](index=489&type=chunk) - No sales returns occurred after the reporting period[489](index=489&type=chunk) [XVIII. Other Significant Matters](index=148&type=section&id=XVIII.%20Other%20Significant%20Matters) This section states that during the reporting period, the company did not experience any other significant matters, such as prior period accounting error corrections, major debt restructurings, asset exchanges, annuity plans, discontinued operations, or segment information - No prior period accounting error corrections occurred during the reporting period[490](index=490&type=chunk) - No major debt restructurings occurred during the reporting period[490](index=490&type=chunk) - No asset exchanges occurred during the reporting period[490](index=490&type=chunk) - No annuity plans occurred during the reporting period[490](index=490&type=chunk) - No discontinued operations occurred during the reporting period[490](index=490&type=chunk) - The company has no segment information to report[490](index=490&type=chunk) [XIX. Notes to Parent Company Financial Statement Items](index=149&type=section&id=XIX.%20Notes%20to%20Parent%20Company%20Financial%20Statement%20Items) This section provides detailed notes on major items in the parent company's financial statements, including accounts receivable, other receivables, long-term equity investments, operating revenue and cost, and investment income, offering specific financial data and changes at the parent company level Parent Company Accounts Receivable Period-End Carrying Balance (by Age) | Age | Period-End Carrying Balance (yuan) | | :--- | :--- | | Within 1 year (inclusive) | 395,751,210.43 | | 1 to 2 years | 1,195,105.70 | | 2 to 3 years | 241,258.56 | | Over 3 years | 917,199.61 | | Total | 398,104,774.30 | Parent Company Other Receivables Period-End Carrying Balance (by Nature of Item) | Nature of Item | Period-End Carrying Balance (yuan) | | :--- | :--- | | Related parties within consolidation scope | 228,720,774.04 | | Payments collected/paid on behalf | 637,624.71 | | Deposits and guarantees | 22,333.00 | | Work-related injury medical expenses | 54,422.18 | | Petty cash | 60,000.00 | | Other | 335,965.12 | | Total | 229,831,119.05 | Parent Company Investments in Subsidiaries (Period-End Balance, Unit: yuan) | Investee | Period-End Balance (Carrying Amount) | | :--- | :--- | | Baihehui Baihe | 31,042,320.00 | | Xuancheng Yingte | 50,451,785.60 | | Forward Chemical | 62,517,728.00 | | Yuansheng Zhinai | 64,341,240.00 | | Hubei Caili | 39,196,500.00 | | Total | 274,597,178.29 | Parent Company Operating Revenue and Operating Cost (Current Period Amount, Unit: yuan) | Item | Revenue | Cost | | :--- | :--- | :--- | | Main Business | 864,556,854.85 | 709,958,256.50 | | Other Business | 28,795,957.53 | 22,477,795.99 | | Total | 893,352,812.38 | 732,436,052.49 | Parent Company Investment Income (Current Period Amount, Unit: yuan) | Item | Current Period Amount | | :--- | :--- | | Investment income from long-term equity investments accounted for using cost method | 36,844,634.08 | | Bank wealth management income | 1,428,886.97 | | Total | 38,273,521.05 | [XX. Supplementary Information](index=160&type=section&id=XX.%20Supplementary%20Information) This section provides supplementary financial information, including a detailed statement of non-recurring gains and losses, net asset return rates, and earnings per share, further elaborating on the company's financial performance Current Period Non-Recurring Gains and Losses Details (Unit: yuan) | Item | Amount | | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | -2,540,341.96 | | Government Subsidies Included in Current Profit and Loss | 12,167,351.82 | | Gains/Losses from Changes in Fair Value of Financial Assets and Liabilities Held by Non-Financial Enterprises and Disposal of Financial Assets and Liabilities | -4,058,924.34 | | Other Non-Operating Income and Expenses Apart from the Above Items | 112,105.66 | | Less: Income Tax Impact | 619,082.09 | | Impact on Minority Interests (After Tax) | 1,173,455.35 | | Total | 3,887,653.74 | Net Asset Return Rate and Earnings Per Share | Profit for the Reporting Period | Weighted Average Return on Net Assets (%) | Earnings Per Share (yuan/share) | | :--- | :--- | :--- | | Net profit attributable to ordinary shareholders of the company | 4.17 | 0.24 | | Net profit attributable to ordinary shareholders of the company after deducting non-recurring gains and losses | 4.01 | 0.23 |
百合花:上半年净利润9953.7万元,同比下降0.67%
Zheng Quan Shi Bao Wang· 2025-08-27 07:53
Core Viewpoint - The company reported a decline in revenue and net profit for the first half of 2025, primarily due to a decrease in sales volume [1] Financial Performance - The company achieved operating revenue of 1.125 billion yuan, a year-on-year decrease of 7.83% [1] - The net profit attributable to shareholders was 99.537 million yuan, reflecting a slight decline of 0.67% year-on-year [1] - Basic earnings per share stood at 0.24 yuan [1] Operational Insights - Overall operational performance remained stable, with financial indicators largely in line with the same period last year [1] - The primary reason for the revenue decline was attributed to a decrease in sales volume [1]
百合花(603823) - 百合花集团股份有限公司第五届董事会第六次会议决议公告
2025-08-27 07:51
证券代码:603823 证券简称:百合花 公告编号:2025-033 百合花集团股份有限公司 第五届董事会第六次会议决议公告 百合花集团股份有限公司董事会 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个别及连带责任。 2025年8月28日 百合花集团股份有限公司第五届董事会第六次会议于 2025 年 8 月 27 日在 公司会议室以现场结合通讯方式召开,会议通知于 2025 年 8 月 15 日以书面、 电子邮件、电话等方式发出。会议应到董事 9 名,实到董事 9 名。本次会议的 召开符合《中华人民共和国公司法》和《百合花集团股份有限公司章程》的有 关规定。会议由董事长陈立荣先生主持。 出席会议的董事对本次会议的议案进行了认真审议,表决并作出如下决议: 一、审议通过了《关于 2025 年半年度报告全文及摘要的议案》 本议案已经董事会审计委员会审议通过。 表决结果:同意9票,反对0票,弃权0票。 特此公告。 ...
百合花:2025年上半年净利润9953.7万元,同比下降0.67%
Xin Lang Cai Jing· 2025-08-27 07:44
百合花公告,2025年上半年营业收入11.25亿元,同比下降7.83%。净利润9953.7万元,同比下降 0.67%。 ...
百合花(603823)8月14日主力资金净流出1239.21万元
Sou Hu Cai Jing· 2025-08-14 10:18
资金流向方面,今日主力资金净流出1239.21万元,占比成交额8.88%。其中,超大单净流出1006.95万 元、占成交额7.22%,大单净流出232.26万元、占成交额1.66%,中单净流出流出12.67万元、占成交额 0.09%,小单净流入1251.88万元、占成交额8.97%。 百合花最新一期业绩显示,截至2025一季报,公司营业总收入5.69亿元、同比减少3.60%,归属净利润 4578.88万元,同比增长12.71%,扣非净利润4458.81万元,同比增长21.86%,流动比率3.014、速动比率 2.199、资产负债率22.84%。 金融界消息 截至2025年8月14日收盘,百合花(603823)报收于13.29元,下跌2.14%,换手率2.52%, 成交量10.35万手,成交金额1.40亿元。 天眼查商业履历信息显示,百合花集团股份有限公司,成立于1995年,位于杭州市,是一家以从事化学 原料和化学制品制造业为主的企业。企业注册资本41636.7704万人民币,实缴资本41636.77万人民币。 公司法定代表人为陈立荣。 通过天眼查大数据分析,百合花集团股份有限公司共对外投资了15家企业,参与招 ...
百合花(603823)7月29日主力资金净流出1276.02万元
Sou Hu Cai Jing· 2025-07-29 13:51
通过天眼查大数据分析,百合花集团股份有限公司共对外投资了15家企业,参与招投标项目40次,知识 产权方面有商标信息25条,专利信息66条,此外企业还拥有行政许可228个。 金融界消息 截至2025年7月29日收盘,百合花(603823)报收于12.95元,下跌1.07%,换手率1.95%, 成交量8.00万手,成交金额1.03亿元。 来源:金融界 天眼查商业履历信息显示,百合花集团股份有限公司,成立于1995年,位于杭州市,是一家以从事化学 原料和化学制品制造业为主的企业。企业注册资本41636.7704万人民币,实缴资本41636.77万人民币。 公司法定代表人为陈立荣。 资金流向方面,今日主力资金净流出1276.02万元,占比成交额12.34%。其中,超大单净流出568.93万 元、占成交额5.5%,大单净流出707.08万元、占成交额6.84%,中单净流出流出276.88万元、占成交额 2.68%,小单净流入1552.89万元、占成交额15.02%。 百合花最新一期业绩显示,截至2025一季报,公司营业总收入5.69亿元、同比减少3.60%,归属净利润 4578.88万元,同比增长12.71%,扣非净利 ...