2025年第三季度主要经营数据公告 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个别及连带责任。 根据上海证券交易所《上市公司行业信息披露指引第十八号——化工》的要 求，百合花集团股份有限公司（以下简称"公司"）现将 2025 年第三季度主要经 营数据披露如下： 二、主要产品的价格变动情况（不含税） 证券代码：603823 证券简称：百合花 公告编号：2025-040 百合花集团股份有限公司 特此公告。 百合花集团股份有限公司董事会 2025年10月29日 | 主要产品 | 2025年1至 9月平均进价 （元/吨） | 2024 年1至9月平均 进价（元/吨） | 变动比率 （%） | | --- | --- | --- | --- | | 2.3 酸 | 16,645.74 | 16,989.28 | -2.02% | | 3,3 双氯联苯胺 | 15,342.20 | 14,834.38 | 3.42% | | 4B酸 | 10,688.30 | 10,437.66 | 2.40% | | 乙萘酚 | 11,570.03 | 11 ...

Core Insights - The company reported a third-quarter revenue of 512 million, representing a decline of 10.19% compared to the previous year [1] - The net profit for the third quarter was 35.8962 million, down 17.72% year-over-year [1] - For the first three quarters, the total revenue was 1.638 billion, reflecting an 8.58% decrease [1] - The net profit for the first three quarters amounted to 135 million, which is a decline of 5.84% [1]

Investment Rating - The report initiates coverage with an "Accumulate" rating for the company [7]. Core Views - The company is a leading domestic organic pigment manufacturer benefiting from industry improvements driven by national environmental and safety policies, leading to increased industry concentration and recovery of profit margins [1][2]. - The company is actively expanding into the panel photoresist pigment market, which is expected to contribute significantly to growth, establishing a second growth curve [6][7]. Company Overview - The company specializes in the production and sale of organic pigments, with a comprehensive range of products covering mainstream varieties. It holds over 40,000 tons of production capacity, accounting for approximately 10% of the global market [2][13]. - The company has seen a reversal in performance in 2024, with revenue expected to grow by 5.23% after a decline due to industry competition [28]. Financial Data - The company achieved a revenue of 2.284 billion yuan in 2023, with a projected revenue of 2.499 billion yuan in 2025, reflecting a year-on-year growth of 4.0% [8][30]. - The net profit attributable to shareholders is expected to reach 208 million yuan in 2025, representing a year-on-year increase of 18.4% [7][30]. Industry Dynamics - The organic pigment industry is experiencing a shift towards higher concentration due to the exit of smaller, less efficient producers, which is improving overall industry profitability [6][50]. - The domestic market for organic pigments is expected to continue growing, with a projected production of 277,000 tons in 2024, an increase of 11.24% from 2023 [46][49]. Growth Opportunities - The company is investing in new projects, including a 10 billion yuan investment in high-performance organic pigments and supporting materials, which will enhance its production capabilities [54][22]. - The panel photoresist pigment market presents significant growth potential, with the company already achieving ton-level sales in this segment [54][55].

证券代码：603823 证券简称：百合花 公告编号：2025-037 百合花集团股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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。 重要内容提示： https://roadshow.sseinfo.com/） （三） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 10 月 09 日 （星期四） 至 10 月 15 日 （星 期三）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目 或通过公司邮箱 csy@lilychem.com 进行提问。公司将在说明会上对 投资者普遍关注的问题进行回答。 百合花集团股份有限公司（以下简称"公司"）已于 2025 年 8 月 28 日发布公司 2025 年半年度报告，为便于广大投资者更全面深入地 了解公司 2025 年半年度经营成果、财务状况，公司计划于 2025 年 10 月 16 日（星期四）14:00-15:00 举行 2025 年半年度业绩说明会， 就投资者关心的问题进行交流。 一、 说明会类型 会议召开 ...

Group 1 - The company is rated as "Buy" for the first time [1][8] - The report highlights that the company is a leading domestic organic pigment manufacturer with a comprehensive product range covering various application fields [6][15] - The company achieved a revenue of 1.125 billion yuan in the first half of 2025, a year-on-year decrease of 7.83%, and a net profit of 100 million yuan, a decrease of 0.67% [6][28] Group 2 - The report emphasizes that the "anti-involution" policies introduced in 2025 will benefit the chemical industry by eliminating outdated production capacity, which will enhance the company's profitability [6][36] - The company is expanding into the photoresist pigment business, which is expected to open a second growth curve, with significant market potential in the LCD and semiconductor sectors [7][49] - The company plans to invest 1 billion yuan in a project to produce high-performance organic pigments and related materials, with an expected annual output value of approximately 1.7 billion yuan upon completion [7][58] Group 3 - The company forecasts net profits for 2025, 2026, and 2027 to be 207 million, 275 million, and 427 million yuan respectively, representing year-on-year growth rates of 17.64%, 32.96%, and 55.04% [8][60] - The projected revenue for 2025, 2026, and 2027 is 25.20 billion, 27.13 billion, and 30.92 billion yuan, with corresponding year-on-year growth rates of 4.86%, 7.67%, and 13.96% [8][61] - The company maintains a competitive edge with a gross margin of 21.34% in 2025, which is expected to increase to 25.85% by 2027 [33][61]

Group 1 - The chemical products sector increased by 0.35% on September 24, with United Chemical leading the gains [1] - The Shanghai Composite Index closed at 3853.64, up 0.83%, while the Shenzhen Component Index closed at 13356.14, up 1.8% [1] - Key stocks in the chemical products sector showed significant price increases, with United Chemical rising by 20.00% to a closing price of 104.40 [1] Group 2 - The main capital flow in the chemical products sector showed a net inflow of 416 million yuan, while retail investors contributed a net inflow of 335 million yuan [1] - The table of individual stock performance indicates that several companies, including Huasoft Technology and Baihehua, experienced notable gains of over 10% [1]

Group 1 - The core viewpoint of the news is that Baihehua's stock has experienced fluctuations, with a year-to-date increase of 41.86% but a recent decline of 5.32% over the last five trading days [2] - As of September 22, Baihehua's stock price was 12.98 yuan per share, with a market capitalization of 5.404 billion yuan and a trading volume of 19.2764 million yuan [1] - The company has seen a net outflow of 373,300 yuan in principal funds, with large orders accounting for 11.38% of purchases and 13.32% of sales [1] Group 2 - Baihehua's main business involves the research, production, and sales of organic pigments, intermediates, and pearlescent pigments, with revenue composition being 89.33% from pigments, 9.60% from intermediates, and 1.06% from others [2] - The company is classified under the Shenwan industry as basic chemicals - chemical products - coatings and inks, and is associated with concepts such as dyes and coatings, lithium batteries, photoresist, small-cap, and sodium batteries [2] - As of June 30, the number of Baihehua's shareholders increased by 29.67% to 25,000, while the average circulating shares per person decreased by 22.88% to 16,428 shares [2] Group 3 - Baihehua has distributed a total of 563 million yuan in dividends since its A-share listing, with 191 million yuan distributed over the past three years [3]

Core Viewpoint - The stock of Baihehua (603823.SH) experienced a significant drop of 6.83% to 13.5 yuan following the announcement of a planned share reduction by its actual controller, Chen Lirong [1] Summary by Relevant Sections - **Share Reduction Announcement** - Chen Lirong plans to reduce his holdings by up to 2,900,000 shares within three months after a 15 trading day period from the announcement date [1] - This reduction represents 24.81% of his unlimited circulating shares and 0.70% of the company's total share capital [1]

Core Viewpoint - The actual controller of Baihehua Group Co., Ltd. plans to reduce shareholding due to personal financial needs, which may impact the company's stock performance and investor sentiment [3][9]. Shareholding Structure - As of the disclosure date of the reduction plan, the actual controller Chen Lirong and his concerted actors hold a total of 286,811,607 shares, accounting for 68.88% of the total share capital [2]. - Chen Lirong holds 17,025,563 shares, representing 4.09% of the total share capital, with 11,689,363 shares being tradable and 5,336,200 shares being restricted [2]. - Chen Pengfei holds 5,844,683 shares, accounting for 1.40% of the total share capital, all of which are tradable [2]. - Baihehua Holdings, controlled by Chen Lirong, holds 263,941,361 shares, representing 63.39% of the total share capital, all of which are tradable [2]. Reduction Plan Details - The reduction plan will commence 15 trading days after the announcement, from October 9, 2025, to January 8, 2026, with a maximum of 2,900,000 shares to be sold, which is 24.81% of his tradable shares and 0.70% of the total share capital [3][4]. - The selling price will be determined based on market conditions, and any corporate actions affecting total share capital will adjust the number and proportion of shares to be reduced [3][4]. Commitments and Restrictions - Chen Lirong made commitments regarding shareholding, including a lock-up period of 36 months post-IPO, during which he will not transfer or manage his shares [5][6]. - After the lock-up period, he can only transfer up to 25% of his shares annually while adhering to specific conditions regarding share price and market performance [6][7]. - The planned reduction aligns with previously disclosed commitments, ensuring compliance with relevant laws and regulations [8].

Core Viewpoint - The company Baihehua (603823) announced that its actual controller, Mr. Chen Lirong, plans to reduce his holdings of the company's unrestricted circulating shares due to personal financial needs [1] Summary by Relevant Sections - **Share Reduction Plan** - Mr. Chen Lirong intends to reduce his holdings by up to 2,900,000 shares, which represents 24.81% of his unrestricted circulating shares and 0.70% of the company's total share capital [1]