Group 1 - Donghong Co., Ltd. (SH 603856) announced a research meeting with Northeast Securities scheduled for August 28, 2025, where company representatives will address investor inquiries [1] - For the first half of 2025, Donghong's revenue composition was as follows: sales of pipes and fittings accounted for 83.15%, sales of materials for 15.14%, pipeline installation for 1.65%, and other businesses for 0.06% [1]

证券代码：603856 证券简称：东宏股份 山东东宏管业股份有限公司 投资者关系活动记录表 记录表编号：2025-003 投资者关系 活动类别 □特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 ■其他：电话会议 参与单位名称 及人员姓名 东北证券：杨占魁、张煜暄、吕妮珈、庄嘉骏。（以上排名不分先后） 时间 2025 年 8 月 28 日下午 16：00-16：30 地点 电话会议 上市公司接待 人员姓名 董事、董事会秘书兼证券事务代表寻金龙 副总裁孔令彬 证券部部长刘建宁 投资者关系活 动主要内容介 绍 一、公司概况介绍环节 1、公司基本情况 山东东宏管业股份有限公司是一家以管道智能终端研发制造为主营业务的大 型长输管线、城市生命线综合方案解决服务商，具备管道专用料、管道连接方 式、管道制造全产业链三大行业领先优势。作为全球最大的复合管道制造基地， 依托国家企业技术中心和国家级 CNAS 实验室等创新平台，充分发挥工程管道全 产业发展优势，在水利水务、市政热力、石油天然气、工业矿山、核能电力、化 工园区等领域提供智慧化综合解决方案。公司全面服务于城市生命线产业、城市 ...

Core Viewpoint - Donghong Co., Ltd. is leveraging policy support, technological innovation, and a comprehensive industry chain to transform from traditional manufacturing to system services, positioning itself for sustainable growth and value re-evaluation in the composite pipeline sector [8]. Financial Performance - In the first half of 2025, Donghong Co., Ltd. achieved operating revenue of 1.061 billion yuan and a net profit attributable to shareholders of 102 million yuan, showing a slight decline compared to the same period last year. However, the second quarter saw a quarter-on-quarter growth of approximately 37%, indicating a trend of increasing performance over the past three quarters [1]. - The company's total expenses during the reporting period were 131 million yuan, a decrease of 11.85% year-on-year, while the asset-liability ratio fell to 27.14%, down 9.27 percentage points from the beginning of the period [1]. Market Opportunities - The national strategic drive presents significant opportunities for Donghong Co., Ltd., with policies emphasizing the urgent need for urban infrastructure upgrades and safety improvements. The National Development and Reform Commission projected a total investment demand of approximately 4 trillion yuan for the renovation of nearly 600,000 kilometers of urban pipelines over the next five years [2]. - Donghong Co., Ltd. has proactively positioned itself in urban lifeline-related businesses, achieving significant breakthroughs in order acquisition in urban renewal and pipeline renovation sectors during the first half of 2025 [2]. Technological Innovation - Donghong Co., Ltd. prioritizes technological innovation as a core driver of development, with R&D investment reaching 86.46 million yuan in 2024 and 33.67 million yuan in the first half of 2025. The company holds 209 valid patents across various critical areas [4][5]. - The establishment of a pipeline intelligent terminal R&D center has led to multiple technological breakthroughs, enhancing the company's competitive edge [4]. Industry Positioning - The company operates as an integrated solution provider covering the entire industry chain, from specialized material R&D to lifecycle services, which enhances its ability to control product quality and costs while responding quickly to customer needs [6][7]. - Strategic partnerships with various organizations have accelerated the company's ecological industry layout and application of cutting-edge technologies, further solidifying its market position [7]. Future Outlook - Donghong Co., Ltd. is expected to maintain its leadership in the composite pipeline sector, driven by continuous policy benefits and accelerated technological transformation, paving the way for high-quality and sustainable development [8].

Group 1 - The core viewpoint of the article highlights that Donghong Co., Ltd. reported a decline in revenue and net profit for the first half of 2025, but showed a significant quarter-on-quarter improvement in the second quarter [1] - As of August 27, the company's stock price was 12.45 yuan, down 0.95% from the previous trading day, with a trading volume of 55,263 hands and a transaction amount of 0.69 billion yuan [1] - The company specializes in the research, production, and sales of plastic pipeline systems, which are widely used in municipal and construction projects, and is considered one of the key suppliers in China [1] Group 2 - For the first half of 2025, Donghong Co., Ltd. achieved an operating income of 1.061 billion yuan and a net profit attributable to shareholders of 102 million yuan, indicating a year-on-year decline but a 37% increase in performance compared to the previous quarter [1] - The company reported an increase in orders on hand compared to the same period last year and plans to focus on advancing the national large-scale long-distance pipeline and urban lifeline "dual-line strategy" [1] - On August 27, the net inflow of main funds was 8.8248 million yuan, with a cumulative net inflow of 39.8965 million yuan over the past five days [1]

Meeting Overview - The 21st meeting of the 4th Board of Directors of Shandong Donghong Pipe Industry Co., Ltd. was held on August 26, 2025, with all 9 directors present [1] - The meeting was convened by Chairman Ni Liying and complied with the Company Law and Articles of Association [1] Financial Reports - The Board approved the 2025 Half-Year Report and its summary with a unanimous vote of 9 in favor [2] - The report was previously reviewed by the Audit Committee and does not require submission to the shareholders' meeting [2] Fund Management - The Board approved the Special Report on the Storage and Use of Raised Funds for the first half of 2025, also with a unanimous vote of 9 in favor [2] - This report was similarly reviewed by the Audit Committee and does not require shareholder approval [2] Impairment Provisions - The Board approved the proposal for impairment provisions for the first half of 2025, with a unanimous vote of 9 in favor [3] - The provisions were deemed to comply with accounting standards and reflect the company's financial status accurately [3] Related Party Transactions - The Board approved an increase in the estimated daily related party transactions for 2025, with 7 votes in favor, 0 against, and 2 abstentions [3] - The transactions are based on normal business operations and will not adversely affect the company's financial status [3] Profit Distribution - The Board approved the profit distribution plan for the first half of 2025 with a unanimous vote of 9 in favor [4] - The plan aligns with the company's profit distribution policy and is within the scope of the mid-term dividend authorization from the 2024 annual shareholders' meeting [4] Governance Changes - The Board approved the cancellation of the Supervisory Board and the revision of the Articles of Association with a unanimous vote of 9 in favor [5] - The Audit Committee will assume the responsibilities of the Supervisory Board, and relevant governance documents will be updated accordingly [5] Governance System Updates - The Board approved the formulation and revision of certain governance systems with a unanimous vote of 9 in favor [6] - These updates aim to enhance the company's governance structure and ensure compliance with legal regulations [6] Shareholders' Meeting - The Board approved the convening of the first temporary shareholders' meeting of 2025 on September 12, 2025, with a unanimous vote of 9 in favor [7] - The meeting will address matters requiring shareholder approval, including those discussed in the Board meeting [7]

Core Points - The meeting of the independent directors of Shandong Donghong Pipe Industry Co., Ltd. was held on August 26, 2025, and was legally valid as per relevant regulations [1] - The independent directors unanimously approved the proposal to increase the estimated daily related transactions for 2025, stating that it aligns with the company's operational needs and follows fair trading principles [1] - The decision to submit the proposal for further review at the board meeting was made, with a requirement for related directors to abstain from voting [1] Summary by Sections Meeting Details - The meeting was conducted both in-person and via communication methods, attended by all three independent directors [1] - The meeting was presided over by independent director Kong Xiangyong [1] Proposal Approval - The proposal to increase the estimated daily related transactions for 2025 was approved with a vote of 3 in favor, 0 against, and 0 abstentions [1] - The transactions are based on market prices and will not create dependency on related parties, ensuring no harm to the company or shareholders [1]

增加2025年度日常关联交易预计的核查意见 华福证券有限责任公司（以下简称"华福证券"或"保荐机构"）作为山东东宏 管业股份有限公司（以下简称"东宏股份"或"公司"）向特定对象发行A股股票持 续督导阶段的保荐机构，根据《证券发行上市保荐业务管理办法》《上海证券交 易所股票上市规则》《上市公司监管指引第2号——上市公司募集资金管理和使 用的监管要求》《上海证券交易所上市公司自律监管指引第1号——规范运作》 《上海证券交易所上市公司自律监管指引第11号——持续督导》等法律法规、规 范性文件的要求，对公司增加2025年度日常关联交易预计情况进行了审慎核查， 具体情况如下： 华福证券有限责任公司 关于山东东宏管业股份有限公司 单位：万元 | | | | | | 月与关联 | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 关联交 | 关联人 | 2025年原 | 本次增加 | | 本次增加后 人累计已 | | 本次增加预 | | 易类别 | | 预计金额 | 金额 | | 预计金额 | | 计金额原因 | | | | | | | 发生的交 | | | | ...

证券代码：603856 证券简称：东宏股份 公告编号：2025-044 山东东宏管业股份有限公司 关于 2025 年半年度利润分配方案的公告 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： ? 在实施权益分派的股权登记日前公司总股本发生变动的，拟维持分配总 额不变，相应调整每股分配比例，并将另行公告具体调整情况。 一、利润分配方案主要内容 截至 2025 年 6 月 30 日， 公司母公司报 表中期末未分配 利润为人民 币 登记日登记的总股本为基数分配利润，本次利润分配方案如下： 公司拟向全体股东每 10 股派发现金红利人民币 0.37 元（含税）。截至 2025 年 6 月 30 日， 公 司总股 本 282,056,060 股，以 此计算 合计拟派发 现金红 利 如在实施权益分派的股权登记日前公司总股本发生变动的，拟维持分配总额 不变，相应调整每股分配比例，并将另行公告具体调整情况。 二、公司履行的决策程序 （一）股东大会授权情况 公司于 2025 年 5 月 15 日召开 2024 年年度股东大会，审议通 ...

Meeting Overview - The fourth supervisory board meeting of Shandong Donghong Pipe Industry Co., Ltd. was held on August 26, 2025, with all three supervisors present, and the meeting complied with relevant laws and regulations [1] Half-Year Report - The supervisory board approved the 2025 half-year report and its summary, confirming that the report's preparation and review procedures met legal and regulatory requirements, and the information accurately reflects the company's operating results and financial status for the first half of 2025 [2] Fund Usage Report - The supervisory board approved the special report on the storage and usage of raised funds for the first half of 2025, stating that the usage complies with relevant regulations and does not harm the interests of shareholders, especially minority shareholders [3] Impairment Provision - The supervisory board approved the proposal for impairment provision for the first half of 2025, affirming that the provision complies with accounting standards and accurately reflects the company's financial status as of June 30, 2025 [4] Related Party Transactions - The supervisory board approved the increase in expected daily related party transactions for 2025, ensuring that the transactions are based on normal business needs and adhere to fair pricing principles [5] Profit Distribution Plan - The supervisory board approved the profit distribution plan for the first half of 2025, which aligns with legal requirements and the company's operational situation, ensuring no harm to the interests of all shareholders [5]

Group 1 - The company reported a revenue of 1.061 billion, representing a year-on-year decline of 32.78% [1] - The net profit attributable to the parent company was 102 million, down 32.31% year-on-year [1] - The net profit excluding non-recurring items was 94.6245 million, reflecting a year-on-year decrease of 35.50% [1]