2025 年 6 月 16 日，上述股权变更的工商变更手续办理完毕。 根据《上市公司收购管理办法》（以下简称"《收购管理办法》"）第七十 一条以及《上海证券交易所上市公司自律监管指引第 11 号——持续督导》等有 关规定，本财务顾问持续督导期为 2025 年 6 月 13 日至 2026 年 6 月 16 日。 2025 年 8 月 21 日，上市公司披露了 2025 年半年度报告。通过日常沟通， 结合上市公司的 2025 年半年度报告，本财务顾问出具 2025 年半年度（2025 年 6 月 13 日至 2025 年 6 月 30 日，以下简称"本持续督导期"）持续督导意见。 一、交易资产的交付或过户情况 兴业证券股份有限公司 关于龙岩高岭土股份有限公司收购报告书之 2025 年半年度持续督导意见 兴业证券股份有限公司（以下简称"兴业证券"、"本财务顾问"）接受龙 岩市投资开发集团有限公司（以下简称"投开集团"、"收购人"）的委托，担 任其收购龙岩高岭土股份有限公司（以下简称"龙高股份"、"上市公司"）的 财务顾问。 2025 年 6 月 13 日，龙高股份公告了《收购报告书》，福建省龙岩市人民政 府国有资 ...

Market Overview - The non-metal materials sector experienced a decline of 0.52% on August 26, with Quartz Co. leading the drop [1] - The Shanghai Composite Index closed at 3868.38, down 0.39%, while the Shenzhen Component Index closed at 12473.17, up 0.26% [1] Individual Stock Performance - Quartz Co. (603688) closed at 40.47, down 4.17% with a trading volume of 313,300 shares [1] - Ningxin New Materials (839719) closed at 16.14, down 1.82% with a trading volume of 44,800 shares [1] - Lianrui New Materials (688300) closed at 62.96, down 1.01% with a trading volume of 58,300 shares [1] - Dongfang Xiayuan (832175) closed at 12.86, down 1.00% with a trading volume of 33,100 shares [1] - Power Diamond (301071) closed at 31.54, down 0.76% with a trading volume of 48,800 shares [1] - Kuncai Technology (603826) closed at 20.60, down 0.68% with a trading volume of 58,500 shares [1] - Qilu Huaxin (830832) closed at 8.71, down 0.46% with a trading volume of 24,900 shares [1] - Bingyang Technology (836675) closed at 12.80, up 0.87% with a trading volume of 21,500 shares [1] - Tianma New Materials (838971) closed at 39.39, up 2.15% with a trading volume of 65,900 shares [1] - Longgao Co. (605086) closed at 29.34, up 2.48% with a trading volume of 59,100 shares [1] Capital Flow Analysis - The non-metal materials sector saw a net outflow of 168 million yuan from institutional investors, while retail investors contributed a net inflow of 148 million yuan [1] - Speculative funds recorded a net inflow of 19.89 million yuan into the sector [1]

Core Points - Longgao Co., Ltd. reported a stock price of 28.45 yuan as of August 21, with a decrease of 0.18 yuan, representing a decline of 0.63% [1] - The company operates in the mining industry, focusing on the extraction, processing, and sales of kaolin, which is widely used in ceramics, paper, and coatings [1] - For the first half of 2025, the company achieved a revenue of 145 million yuan, reflecting a year-on-year growth of 9.53%, and a net profit of 55.53 million yuan, up 22.46% year-on-year [1] - On August 20, the company announced a cash dividend distribution plan for the first half of 2025, proposing a cash dividend of 0.93 yuan per 10 shares (tax included), totaling 16.67 million yuan, marking the seventh cash dividend since its listing, with a payout ratio of 30.01% of net profit [1] - On August 21, there was a net outflow of 20.28 million yuan in main funds, accounting for 0.4% of the circulating market value, with a cumulative net outflow of 26.61 million yuan over the past five trading days, representing 0.52% of the circulating market value [1]

Core Viewpoint - The company announced a profit distribution plan for the first half of 2025, proposing a cash dividend of 0.093 yuan per share, which represents 30.01% of the net profit attributable to shareholders for the same period [1][2]. Profit Distribution Plan - The proposed cash dividend is 0.093 yuan per share (including tax), based on a total share capital of 17.92 million shares as of June 30, 2025, resulting in a total cash distribution of approximately 16.67 million yuan [1]. - The profit distribution will be based on the total share capital registered on the equity distribution record date, with adjustments made if there are changes in total share capital before this date [1][2]. - The company's board of directors is authorized to implement the mid-term profit distribution without needing further approval from the shareholders' meeting [2]. Decision-Making Process - The 2024 annual shareholders' meeting authorized the board to conduct mid-term profit distributions, provided that the company has positive net profits and sufficient cash flow to support ongoing operations [2]. - The board unanimously approved the profit distribution plan with no votes against or abstentions [2][3]. Supervisory Board Opinion - The supervisory board reviewed and approved the profit distribution plan, stating it aligns with the company's industry characteristics, development status, and long-term sustainability [3][4]. - The plan is deemed beneficial for the company's long-term health and shareholder interests, complying with relevant laws and regulations [3][4].

Core Insights - Longgao Co., Ltd. (605086.SH) reported a total operating revenue of 145 million yuan for the first half of 2025, an increase of 12.64 million yuan compared to the same period last year, representing a year-on-year growth of 9.53% [1] - The net profit attributable to shareholders reached 55.53 million yuan, up by 10.18 million yuan from the same period last year, reflecting a year-on-year increase of 22.46% [1] - The net cash inflow from operating activities was 57.93 million yuan [1] Financial Ratios - The latest debt-to-asset ratio stands at 4.81%, a decrease of 0.97 percentage points from the previous quarter and a reduction of 1.26 percentage points compared to the same period last year [3] - The latest gross profit margin is 57.08% [3] - The return on equity (ROE) is 4.37%, an increase of 0.53 percentage points from the same period last year [3] Earnings Per Share - The diluted earnings per share (EPS) is 0.31 yuan, an increase of 0.06 yuan compared to the same period last year, representing a year-on-year growth of 24.00% [3] Asset Turnover - The total asset turnover ratio is 0.11 times, an increase of 0.01 times from the same period last year, reflecting a year-on-year growth of 4.88% [3] - The inventory turnover ratio is 2.62 times, an increase of 0.30 times compared to the same period last year, marking three consecutive years of growth with a year-on-year increase of 13.13% [3] Shareholder Structure - The number of shareholders is 10,100, with the top ten shareholders holding a total of 137 million shares, accounting for 76.29% of the total share capital [3] - The largest shareholder is Longyan Investment Development Group Co., Ltd. with 49.5% of shares [3]

8月20日龙高股份发布2025半年度分配预案，拟10派0.93元（含税），预计派现金额合计为1666.56万 元。派现额占净利润比例为30.01%，这是公司上市以来，累计第7次派现。 公司上市以来历次分配方案一览 | 日期 | 分配方案 | 派现金额合计（亿元） | 股息率（%） | | --- | --- | --- | --- | | 2025.06.30 | 10派0.93元（含税） | 0.17 | 0.33 | | 2024.12.31 | 10派0.95元（含税） | 0.17 | 0.41 | | 2024.09.30 | 10派1.14元（含税） | 0.20 | 0.54 | | 2024.06.30 | 10派0.77元（含税） | 0.14 | 0.35 | | 2023.12.31 | 10转增4派3.62元（含税） | 0.46 | 1.35 | | 2022.12.31 | 10派3.3元（含税） | 0.42 | 1.58 | | 2021.12.31 | 10派3.3元（含税） | 0.42 | 1.19 | 证券时报·数据宝统计显示，公司上半年共实现营业收入1.45亿元，同比 ...

Core Insights - Longgao Co., Ltd. reported a revenue of 145,357,936.84 yuan for the first half of 2025, representing a year-on-year growth of 9.53% [2] - The net profit attributable to shareholders of the listed company was 55,527,265.06 yuan, showing a year-on-year increase of 22.46% [2] Financial Performance - The company's revenue for the first half of 2025 reached approximately 145.36 million yuan, marking a 9.53% increase compared to the previous year [2] - The net profit for the same period was around 55.53 million yuan, which is a 22.46% rise year-on-year [2]

龙高股份（SH 605086，收盘价：28.63元）8月20日晚间发布半年度业绩报告称，2025年上半年营业收 入约1.45亿元，同比增加9.53%；归属于上市公司股东的净利润约5553万元，同比增加22.46%；基本每 股收益0.31元，同比增加24%。 （文章来源：每日经济新闻） ...

（文章来源：证券日报） 证券日报网讯 8月20日晚间，龙高股份发布公告称，公司第二届监事会第三十次会议审议通过了《2025 年半年度报告全文及摘要》《关于2025年半年度利润分配预案的议案》。 ...

（文章来源：证券日报） 证券日报网讯 8月20日晚间，龙高股份发布公告称，公司第二届董事会第四十一次会议审议通过了 《2025年半年度报告全文及摘要》《关于2025年半年度利润分配预案的议案》。 ...