Financial Performance - The company's operating revenue for the third quarter was ¥592,215,558.91, a decrease of 15.74% compared to the same period last year[4] - The total profit for the third quarter was -¥29,812,965.01, representing an increase of 42.44% year-on-year[4] - The net profit attributable to shareholders was -¥26,838,871.21, reflecting a 45.93% increase compared to the same quarter last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥34,805,677.92, a decrease of 34.67% year-on-year[4] - The basic earnings per share for the third quarter was -¥0.1300, an increase of 45.54% compared to the same period last year[4] - Total operating revenue for the first three quarters of 2025 was RMB 1,991,274,646.75, a decrease of 9.45% compared to RMB 2,198,902,945.07 in the same period of 2024[18] - The net profit for the first three quarters of 2025 was -21,415,825.28 RMB, compared to -91,351,734.39 RMB in the same period of 2024, showing an improvement[19] - The company reported a total comprehensive loss of -21,648,048.11 RMB for the first three quarters of 2025, compared to -90,875,229.29 RMB in 2024[19] - The basic and diluted earnings per share for the first three quarters of 2025 were both -0.1174 RMB, an improvement from -0.4503 RMB in 2024[19] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,412,557,179.21, an increase of 1.68% from the end of the previous year[5] - Total assets as of September 30, 2025, amounted to RMB 3,412,557,179.21, an increase from RMB 3,356,330,821.20 at the end of 2024[16] - Total liabilities as of September 30, 2025, were RMB 1,513,863,346.68, compared to RMB 1,438,950,953.60 at the end of 2024, reflecting an increase of 5.2%[15] - The company's equity attributable to shareholders was RMB 1,805,945,809.76 as of September 30, 2025, down from RMB 1,825,205,300.81 at the end of 2024[16] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥123,572,668.05, a decrease of 403.86% compared to the same period last year[4] - Operating cash flow for the first three quarters of 2025 was -123,572,668.05 RMB, a decline from -24,525,152.38 RMB in 2024[21] - Cash and cash equivalents as of September 30, 2025, were RMB 339,878,449.86, a decrease from RMB 658,162,888.55 at the end of 2024[13] - The cash and cash equivalents at the end of the period were 324,054,571.21 RMB, down from 456,160,441.44 RMB at the end of the same period in 2024[22] - The net cash flow from investing activities for the first three quarters of 2025 was -326,134,696.41 RMB, an improvement from -414,466,502.31 RMB in 2024[22] Operating Costs and Expenses - Total operating costs for the first three quarters of 2025 were RMB 1,985,006,859.22, down 11.58% from RMB 2,244,815,413.87 in the previous year[18] - Operating costs included RMB 1,752,043,398.69 for cost of goods sold, which decreased from RMB 2,010,765,649.25 in 2024, indicating a reduction of 13.0%[18] - The company incurred a total operating expense of 1,786,725,003.70 RMB in 2025, slightly lower than 1,791,219,170.68 RMB in 2024[21] Research and Development - Research and development expenses for the first three quarters of 2025 were RMB 67,148,435.29, slightly down from RMB 67,239,395.73 in 2024[18] Borrowings and Financing - The company reported a significant increase in short-term borrowings, rising to RMB 273,000,000.00 from RMB 97,000,000.00 in the previous period[14] - The company received cash from borrowings amounting to 632,932,853.04 RMB in 2025, compared to 547,064,682.03 RMB in 2024, reflecting an increase of approximately 15.7%[22] Non-Recurring Gains - The company reported non-recurring gains of ¥7,966,806.71 for the third quarter, with government subsidies contributing ¥3,454,396.25[7] - The company reported a decrease in other comprehensive income attributable to the parent company, with a net amount of -411,969.10 RMB in 2025 compared to 240,764.10 RMB in 2024[19] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 11,554[10] - The weighted average return on net assets was -1.47%, an increase of 1.12 percentage points compared to the previous year[4]

证券代码：603968 证券简称：醋化股份 公告编号：临2025-033 南通醋酸化工股份有限公司 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： 南通醋酸化工股份有限公司（以下简称"公司"）已于 2025 年 8 月 29 日在 《中国证券报》、《上海证券报》、《证券日报》以及上海证券交易所网站披露 了公司《2025 年半年度报告》。为了便于广大投资者全面、深入了解公司 2025 年半年度经营成果及财务状况，公司计划于 2025 年 10 月 21 日下午 14:00 至 15:00 召开"2025 年半年度业绩说明会"，就投资者普遍关注的问题进行回答。 一、说明会类型 成果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的范 围内就投资者普遍关注的问题进行回答。 二、说明会召开的时间、地点 1、会议召开时间：2025 年 10 月 21 日（星期二）下午 14:00-15:00 2、会议召开地点：上海证券交易所上证路演中心（网址： https://ro ...

Core Insights - The company reported a total revenue of 1.399 billion yuan for the first half of 2025, a decrease of 6.49% year-on-year, while the net profit attributable to shareholders was 2.6087 million yuan, an increase of 105.9% [1] - The second quarter revenue was 711 million yuan, down 8.64% year-on-year, but the net profit for the same period was 9.3266 million yuan, up 154.26% [1] - The company's profitability improved, with a gross margin increase of 33.34% and a net margin increase of 111.72% compared to the previous year [1] Financial Performance - Total revenue for 2024 was 1.496 billion yuan, while for 2025 it was 1.399 billion yuan, reflecting a decline of 6.49% [1] - The net profit for 2024 was a loss of 44.2223 million yuan, while for 2025 it turned into a profit of 2.6087 million yuan, marking a significant turnaround [1] - The gross margin for 2025 was 12.68%, up from 9.51% in 2024, and the net margin improved from -2.77% to 0.32% [1] Cost and Expenses - Total selling, administrative, and financial expenses amounted to 101 million yuan, accounting for 7.23% of revenue, which is an increase of 13.14% year-on-year [1] - The company's cash flow per share was -0.28 yuan, showing a 31.15% improvement from -0.4 yuan in the previous year [1] Asset and Liabilities - Cash and cash equivalents decreased by 52.28% from 932 million yuan in 2024 to 445 million yuan in 2025 [1] - Interest-bearing liabilities decreased by 29.36% from 775 million yuan to 547.1 million yuan [1] Business Model and Strategy - The company's performance is primarily driven by research and development, indicating a need for further analysis of the underlying factors supporting this growth [2]

Core Viewpoint - Nantong Acetic Acid Chemical Co., Ltd. reported a decrease in revenue and a significant increase in net profit for the first half of 2025, indicating a recovery from previous losses despite a challenging market environment [1][2]. Financial Performance - The company's operating income for the first half of 2025 was approximately CNY 1.399 billion, a decrease of 6.49% compared to the same period last year [2]. - Total profit reached approximately CNY 9.78 million, a significant increase of 120.81% year-on-year [2]. - The net profit attributable to shareholders was approximately CNY 2.61 million, up 105.90% from the previous year [2]. - The net cash flow from operating activities was negative CNY 56.45 million, but improved by 32.12% compared to the previous year [2]. Key Financial Indicators - Basic earnings per share were CNY 0.0126, a turnaround from a loss of CNY 0.2116 in the same period last year [2]. - The weighted average return on equity increased to 0.14%, up 2.38 percentage points from the previous year [2]. - The total assets of the company at the end of the reporting period were approximately CNY 3.459 billion, an increase of 3.07% from the end of the previous year [2]. Business Overview - The company operates in the fine chemical industry, focusing on the production and sale of food and feed additives, pharmaceutical and pesticide intermediates, and dye intermediates [3]. - The company has established a comprehensive fine chemical business system, including product research and development, process optimization, industrial production, and custom processing [3]. - Nantong Acetic Acid Chemical Co., Ltd. is recognized as a key high-tech enterprise and has received various accolades for its innovation and technology [3]. Market Environment - The company is navigating a challenging market influenced by global economic conditions and regulatory changes, particularly in the chemical industry [3]. - Recent government policies have emphasized technological innovation and green development, which may benefit companies with strong technical capabilities and cost advantages [3]. - The tightening of environmental regulations is expected to eliminate outdated production capacities, potentially increasing market concentration in the industry [3].

Core Viewpoint - Nantong Acetic Acid Chemical Co., Ltd. reported a decrease in operating income and an increase in net profit for the first half of 2025, indicating a recovery in profitability despite lower revenue [1][2]. Financial Summary - Total assets at the end of the reporting period amounted to CNY 3,459,406,528.08, reflecting a 3.07% increase from the previous year [1]. - Net assets attributable to shareholders reached CNY 1,835,029,661.03, a slight increase of 0.54% compared to the end of the previous year [1]. - Operating income for the period was CNY 1,399,059,087.84, down 6.49% from CNY 1,496,090,420.34 in the same period last year [1]. - Total profit for the period was CNY 9,784,364.85, a significant increase of 120.81% compared to a loss of CNY 47,023,224.48 in the previous year [1]. - Net profit attributable to shareholders was CNY 2,608,664.22, up 105.90% from a loss of CNY 44,222,320.27 in the same period last year [1]. - The net profit after deducting non-recurring gains and losses was CNY -6,583,510.09, showing an improvement of 87.06% from the previous year's loss of CNY 50,862,552.86 [1]. - The net cash flow from operating activities was CNY -56,448,463.71, an improvement of 32.12% from CNY -83,156,095.03 in the previous year [1]. - The weighted average return on net assets increased by 2.38 percentage points to 0.14% [1]. - Basic and diluted earnings per share were both CNY 0.0126, a significant recovery from CNY -0.2116 in the previous year [1]. Shareholder Information - The total number of shareholders at the end of the reporting period was 13,402 [1]. - The top shareholder, Gu Qingquan, holds 8.90% of the shares, followed by Nantong Xinyuan Investment with 8.57% [2][3]. - Other notable shareholders include Ding Caifeng (5.98%), Yang Meiyun (4.01%), and others, with various ownership percentages [2].

Group 1 - The board of directors of Nantong Acetic Acid Chemical Co., Ltd. held its 22nd meeting of the 8th session on August 27, 2025, which was conducted both in-person and via remote voting [1][2] - The meeting approved the "2025 Semi-Annual Report" and its summary, with a unanimous vote of 9 in favor and no votes against or abstentions [1] - The meeting also approved the proposal regarding the provision for impairment for the first half of 2025, again with a unanimous vote of 9 in favor [2]

Core Viewpoint - The company, Nantong Acetic Acid Chemical Co., Ltd. (醋化股份), has released its 2025 semi-annual report, highlighting significant financial data and the decision to not distribute profits or increase capital reserves during this period [1][5]. Group 1: Company Overview - The company is identified as Nantong Acetic Acid Chemical Co., Ltd. with the stock code 603968 [2]. - The report emphasizes the importance of reviewing the full semi-annual report for a comprehensive understanding of the company's performance and future plans [1]. Group 2: Financial Data - The company reported a total asset impairment loss of 25.99 million yuan for the first half of 2025, which includes credit impairment and inventory write-downs [13][14]. - The credit impairment provision amounted to 1.82 million yuan, while the inventory write-down provision was 24.17 million yuan, collectively reducing the total profit by 4.14 million yuan, representing 29.72% of the profit before impairment [15]. Group 3: Board Meeting - The 22nd meeting of the 8th Board of Directors was held on August 27, 2025, with all 9 directors participating, and the meeting was deemed legally valid [4][7]. - The board approved the semi-annual report and the asset impairment provision during this meeting [5][9].

Core Points - The company, Vinegar Chemical Co., announced the approval of a proposal regarding the provision for impairment for the first half of 2025 during the 22nd meeting of its eighth board of directors [2] Group 1 - The board meeting focused on the financial health of the company, specifically addressing the need for impairment provisions [2] - The decision reflects the company's proactive approach to managing potential financial risks [2]

Group 1 - The company, Vine Chemical Co., Ltd. (SH 603968), announced its board meeting held on August 27, 2025, to discuss the proposal for impairment provision for the first half of 2025 [1] - For the year 2024, the revenue composition of Vine Chemical is as follows: chemical manufacturing accounts for 78.83%, other goods for 16.4%, and other businesses for 4.77% [1] - As of the report date, the market capitalization of Vine Chemical is 2.6 billion yuan [1]

证券代码：603968 证券简称：醋化股份 公告编号：临2025-030 经表决：赞成9票，反对0票，弃权0票。 一、董事会会议召开情况 南通醋酸化工股份有限公司（以下简称"公司"）第八届董事会第二十二次会 议于2025年8月27日在公司会议室以现场+通讯表决的方式召开。本次会议通知于 2025年8月15日以电子邮件方式发出，应参与表决董事9人，实际参与表决董事9人（独 立董事赵伟建、王宝荣以通讯表决方式参加本次会议）。会议的召集和召开程序符 合《公司法》等相关法律法规及《公司章程》的有关规定，会议决议合法、有效。 会议由董事长庆九先生主持，公司监事、高级管理人员列席了本次会议。 二、董事会会议审议情况 会议审议通过了如下议案： （一）审议并通过《2025年半年度报告》及《2025年半年度报告摘要》 同意公司《2024年半年度报告》及《2024年半年度报告摘要》。 具体内容详见上海证券交易所网站（www.sse.com.cn）。 南通醋酸化工股份有限公司 第八届董事会第二十二次会议决议的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承 ...