Core Viewpoint - Changhong Gaoke (605008.SH) has decided to terminate its investment plan to establish a joint venture with Panjin Shengteng Industrial Development Co., Ltd due to the ongoing downturn in the photovoltaic industry and the uncertainty in future profitability [1] Summary by Relevant Sections - **Investment Plan Details** - The original investment plan involved a total investment of 500 million yuan, with Changhong Gaoke contributing 225 million yuan for a 45% stake and Panjin Shengteng contributing 275 million yuan for a 55% stake [1] - **Market Conditions** - Since the third quarter of 2023, the photovoltaic industry chain has been in continuous decline, leading to POE film prices dropping to historical lows without signs of recovery [1] - **Decision Rationale** - The decision to terminate the investment was made to protect the interests of the company and its shareholders, as the future profitability of the project is highly uncertain [1]

Core Viewpoint - The company has released its 2025 semi-annual report, highlighting its financial performance, operational status, and future plans, while ensuring the accuracy and completeness of the information provided [1][4][6]. Group 1: Company Overview - The company is named Ningbo Changhong High Polymer Technology Co., Ltd. and is listed under the stock code 605008 [4]. - The company has confirmed that all board members attended the board meeting where the semi-annual report was approved [1][4]. Group 2: Financial Data - The company reported a total fundraising amount of RMB 484.84 million from its initial public offering in 2020, with a net amount of RMB 445.47 million after deducting issuance costs [11]. - In 2022, the company raised RMB 50 million through a targeted issuance, with a net amount of RMB 41.74 million after costs [11]. Group 3: Fund Management - The company has established a dedicated fund management system to ensure the proper use of raised funds, adhering to relevant laws and regulations [12][14]. - The company has not used idle funds for temporary working capital or invested in cash management products during the reporting period [18][19]. Group 4: Investment Decisions - The company has decided to terminate its plan to establish a joint venture due to unfavorable market conditions in the photovoltaic industry, which has seen a significant decline in prices [28]. - The termination of this investment will not have a significant impact on the company's operations or financial status [28]. Group 5: Asset Impairment - The company has recognized an asset impairment provision of RMB 12.27 million for the first half of 2025, which includes credit impairment losses and inventory write-downs [48][50]. - This provision will reduce the company's total profit for the reporting period by the same amount [50]. Group 6: Upcoming Events - The company plans to hold a performance briefing on September 16, 2025, to discuss its semi-annual results and address investor inquiries [30][31].

Core Insights - The company reported a revenue of 1,842,925,858.43 yuan for the first half of 2025, representing a year-on-year growth of 16.25% [1] - The net profit attributable to shareholders of the listed company was 1,676,574.82 yuan, showing a significant decline of 98.26% compared to the previous year [1] Financial Performance - Revenue for the first half of 2025: 1,842.93 million yuan, up 16.25% year-on-year [1] - Net profit for the same period: 1.68 million yuan, down 98.26% year-on-year [1]

Group 1 - The company Changhong Gaoke announced on the evening of August 27 that its third supervisory board's fifteenth meeting approved the proposals regarding certain matters and their summaries [2]

Group 1 - The company, Changhong Gaoke, announced the termination of its plan to establish a joint venture through a resolution passed in the 20th meeting of its third board of directors [2]

Core Viewpoint - The company reported a revenue of 1.843 billion yuan for the first half of 2025, marking a year-on-year increase of 16.25%, with a net profit attributable to shareholders of 1.6766 million yuan, indicating a recovery in the second quarter after a challenging first quarter [1][2]. Group 1: Financial Performance - In Q2, the company achieved a revenue of 1.125 billion yuan and a net profit of 18.1054 million yuan, successfully turning around from a loss [1][2]. - The overall performance in the first half was impacted by a slow macroeconomic recovery and operational challenges, particularly due to a technical upgrade at a subsidiary that affected production [2][3]. Group 2: Project Progress - Several key projects made substantial progress, including the completion of the 250,000 tons/year solution styrene-butadiene rubber expansion project and the TPE black masterbatch technical upgrade project [3]. - The company is also advancing the construction of the Guangdong Longhong acrylic acid industrial park and has initiated the acquisition of 100% equity in Guangxi Changke, expanding its product matrix [3]. Group 3: Business Segment Performance - The PBAT/PBT business saw a revenue increase of 23.05% year-on-year, with a gross margin improvement of 2.12 percentage points [4]. - The calcium carbonate business emerged as a significant highlight, with a revenue increase of 842.33% year-on-year, benefiting from high-purity mineral resources and expected market growth [4]. - Despite short-term challenges in the black masterbatch business due to technical upgrades, long-term competitiveness is expected to improve with enhanced production processes [4]. Group 4: Industry Outlook - Analysts predict that the company is likely to achieve a growth pattern of "increased revenue in the first half and improved profits in the second half" as industry recovery trends continue and new capacities are released [5].

证券代码：605008 证券简称：长鸿高科 公告编号：2025-052 宁波长鸿高分子科技股份有限公司 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、董事会会议召开情况 宁波长鸿高分子科技股份有限公司（以下简称"公司"）第三届董事会第二 十次会议于 2025 年 8 月 27 日在公司会议室以现场结合通讯方式召开。本次会议 通知已于 2025 年 8 月 22 日通过电子邮件的方式送达公司全体董事。本次会议应 出席董事 9 人，实际出席会议的董事 9 人。会议由公司董事长陶春风先生主持， 部分监事、高管列席会议。本次会议的召开符合《公司法》和《公司章程》的规 定。 二、董事会会议审议情况 （二）审议通过《关于 <宁波长鸿高分子科技股份有限公司 ensp="ensp" 年半年度="年半年度"> 募集资金存放与使用情况的专项报告>的议案》 具体内容详见公司同日在上海证券交易所网站（www.sse.com.cn）披露的《宁 波长鸿高分子科技股份有限公司关于 2025 年半年度募集资金存放与使用情况的 专项报告》（公告编号：20 ...

Group 1 - The third meeting of the Supervisory Board of Ningbo Changhong High Polymer Technology Co., Ltd. was held on August 27, 2025, with all three supervisors participating in the voting [1] - The Supervisory Board approved the 2025 semi-annual report and its summary, confirming that the report accurately reflects the company's operating results, financial status, and cash flow for the first half of 2025 [1][2] - The voting results for the semi-annual report were unanimous, with 3 votes in favor, 0 against, and 0 abstentions [2] Group 2 - The Supervisory Board also approved the special report on the storage and use of raised funds for the first half of 2025, with the details available on the Shanghai Stock Exchange website [2] - The voting results for the special report on raised funds were also unanimous, with 3 votes in favor, 0 against, and 0 abstentions [2]

人民财讯8月27日电，长鸿高科(605008)8月27日晚间披露半年报，2025年上半年，公司实现营业收入为 18.43亿元，同比增长16.25%；归母净利润167.66万元，同比下降98.26%；基本每股收益0.0026元。报告 期内，业绩承压的主要原因是：1.阶段性停产影响。公司子公司长鸿生物为了提升现有装置的生产效 率，在2025年第一季度进行了PBT装置技改，技改停工时间较长影响了产量；2.需求阶段性不足。由于 市场需求阶段性不足，产品销售价格降幅大于原材料价格降幅，毛利率下滑。 转自：证券时报 ...

证券代码：605008 证券简称：长鸿高科 公告编号：2025-057 宁波长鸿高分子科技股份有限公司 关于 2025 年半年度计提资产减值准备的公告 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。 （一）信用减值损失 2025年半年度，公司计提信用减值准备合计10,155,524.05元。 （二）资产减值损失 2025 年半年度，公司对存货跌价损失及合同履约成本减值损失计提减值准 备 2,115,129.57 元。 三、计提资产减值准备对公司的影响 公司 2025 年半年度计提各类信用及资产减值准备共计 12,270,653.62 元， 计 提 各 类 信 用 及 资 产 减 值 准 备 后 ， 减 少 公 司 2025 年 半 年 度 利 润 总 额 12,270,653.62 元。本次计提各类信用及资产减值损失数据未经审计，对公司 2025 年半年度的影响最终以会计师事务所年度审计确认的金额为准。 本次计提资产减值准备依据充分，符合公司资产现状及企业会计准则等相关 法律法规要求，不存在损害公司和全体股东特别是中小股东利益 ...