Group 1 - The company plans to repurchase shares to enhance its long-term incentive mechanism and recognizes its value, with a budget of no less than RMB 40 million and no more than RMB 80 million for the buyback, at a price not exceeding RMB 11.38 per share [2][3] - As of August 31, 2025, the company has not yet conducted any share repurchases [3] - The company will adhere to relevant regulations and will make buyback decisions based on market conditions, ensuring timely disclosure of progress [4]

证券代码：605162 证券简称：新中港 公告编号：2025-054 一、 回购股份的基本情况 基于对浙江新中港热电股份有限公司（以下简称"公司"）未来持续发展的信 心和对公司价值的认可，为建立、完善公司长效激励机制，公司拟通过集中竞价 交易方式回购股份，将在未来适宜时机用于股权激励或员工持股计划。 公司于 2025 年 6 月 30 日召开第三届董事会第十三次会议，审议通过了《关 于以集中竞价交易方式回购公司股份方案的议案》，公司将使用不低于人民币 4,000 万元（含）且不超过人民币 8,000 万元（含）以集中竞价交易方式进行股份 回购，回购股份的价格不超过 11.38 元/股。本次回购股份事项具体内容详见公司 于 2025 年 7 月 5 日在上海证券交易所网站（www.sse.com.cn）披露的《关于以集 中竞价交易方式回购公司股份的回购报告书》（公告编号：2025-041）。 二、 回购股份的进展情况 根据《上市公司股份回购规则》《上海证券交易所上市公司自律监管指引第 7 转债代码：111013 转债简称：新港转债 浙江新中港热电股份有限公司 关于股份回购进展公告 本公司董事会及全体董事保证本公 ...

Group 1 - The core viewpoint of the articles indicates that New Zhonggang's stock has experienced fluctuations, with a year-to-date increase of 35.10% but a recent decline of 2.08% on August 27 [1] - The company operates in the public utility sector, specifically in power and heat services, with its main business revenue derived from cogeneration at 95.17%, energy storage at 4.73%, and other sources at 0.10% [1][2] - As of June 30, the number of shareholders decreased by 4.18% to 20,400, while the average circulating shares per person increased by 4.37% to 19,622 shares [2] Group 2 - For the first half of 2025, New Zhonggang reported operating revenue of 364 million yuan, a year-on-year decrease of 17.74%, and a net profit attributable to shareholders of 61.81 million yuan, down 4.62% year-on-year [2] - The company has distributed a total of 344 million yuan in dividends since its A-share listing, with 204 million yuan distributed over the past three years [3]

Core Insights - New Zhonggang (605162) reported a total revenue of 364 million yuan for the first half of 2025, a year-on-year decrease of 17.74%, with a net profit attributable to shareholders of 61.81 million yuan, down 4.62% year-on-year [1] - In Q2, the company generated a revenue of 190 million yuan, a decline of 15.08% year-on-year, while the net profit attributable to shareholders increased by 17.7% to 46.36 million yuan [1] - The company's profitability improved, with a gross margin increase of 13.43% to 31.61% and a net margin increase of 16.56% to 16.88% [1] Financial Performance - Total operating expenses, including sales, management, and financial expenses, amounted to 26.99 million yuan, representing 7.41% of revenue, an increase of 27.16% year-on-year [1] - Earnings per share decreased by 6.25% to 0.15 yuan, while the net asset per share increased by 5.98% to 3.17 yuan [1] - Operating cash flow per share rose significantly by 134.48% to 0.51 yuan [1] Significant Financial Changes - Cash and cash equivalents decreased by 49.89% due to increased purchases of structured deposits [2] - Trading financial assets increased by 149.61%, also attributed to the purchase of structured deposits [3] - Inventory decreased by 51.32% due to reduced coal inventory and lower coal prices [5] - Construction in progress surged by 4076.82% due to increased investment in the 2 unit upgrade project [6] - Other non-current assets rose by 276.38% due to increased prepayments for engineering equipment [8] Liabilities and Expenses - Accounts payable decreased by 58.14% as the company paid off equipment payables [9] - Employee compensation payable dropped by 44.42% due to the payment of last year's accrued bonuses [10] - Non-current liabilities due within one year fell by 71.92% as the company repaid bank loans [11] - Deferred income increased by 101.48% due to higher government subsidies related to assets [12] Operational Metrics - The company's return on invested capital (ROIC) was 9.6%, indicating average capital returns, while the net profit margin was 16.7%, suggesting high added value for products or services [12] - Historical data shows a median ROIC of 18.25% since the company went public, with the lowest ROIC recorded in 2022 at 9.18% [12] - The company has a debt ratio of 20.37% for interest-bearing liabilities, and accounts receivable have reached 109.99% of profits, indicating potential concerns in these areas [13]

Core Viewpoint - Zhejiang Xinhong Port Thermal Power Co., Ltd. plans to utilize up to RMB 300 million of idle self-owned funds for cash management to enhance the efficiency of fund usage and increase returns for shareholders [1][3]. Group 1: Cash Management Proposal - The company will use a maximum of RMB 300 million for cash management, with a usage period not exceeding 12 months [1]. - The board has authorized the management to implement the cash management plan, which includes investing in high-security, liquid, and capital-protected financial products such as structured deposits and time deposits [1][3]. - The decision is effective for 12 months from the date of board approval [1]. Group 2: Risk Management - Despite the high security and liquidity of the intended investment products, there are systemic risks that could affect investment returns due to macroeconomic and market fluctuations [2]. - The company will adhere to prudent investment principles and will monitor the performance of the financial products closely [2]. Group 3: Impact on the Company - Utilizing idle funds for cash management is expected to improve the efficiency of self-owned funds and increase company revenue, aligning with the interests of the company and its shareholders without impacting the main business operations [3].

Core Points - Zhejiang Xinhong Port Thermal Power Co., Ltd. held its 14th meeting of the 3rd Board of Directors on August 25, 2025, with all 9 directors present, indicating strong governance and compliance with regulations [1] - Three important resolutions were passed unanimously, including the approval of the 2025 semi-annual report, a special report on the use of raised funds, and a proposal for cash management using idle funds [1] Summary by Category - **Meeting Details** - The meeting was conducted both in-person and online, ensuring accessibility for all board members [1] - The meeting was chaired by Chairman Xie Baijun, demonstrating effective leadership [1] - **Resolutions Passed** - The 2025 semi-annual report and its summary were approved with 9 votes in favor, reflecting the company's transparency and commitment to shareholder communication [1] - A special report on the use of raised funds was also approved unanimously, indicating proper management of financial resources [1] - The proposal for cash management using idle self-owned funds was passed, suggesting a proactive approach to optimizing financial assets [1]

Core Viewpoint - New Zhonggang's 2025 semi-annual report shows a decline in revenue and net profit, indicating potential challenges in performance despite improvements in cash flow and gross margin [1]. Performance Quality - The company's revenue for the first half of 2025 was 364 million yuan, a year-on-year decrease of 17.74% [2][3]. - Net profit was 61.51 million yuan, down 4.12% year-on-year, while operating cash flow increased by 134.5% to 205 million yuan [2][5]. Profitability - The gross margin improved to 31.61%, reflecting a significant year-on-year increase of 13.43% [5][6]. - The net profit margin rose to 16.88%, up 16.56% year-on-year, but the return on equity (ROE) decreased to 4.58%, down 10.55% year-on-year [5][7]. Financial Pressure and Safety - The asset-liability ratio stood at 28.36%, a slight decrease of 0.78% year-on-year, with a current ratio of 6.84 and a quick ratio of 6.38 [7][8]. - Total debt was 373 million yuan, with short-term debt accounting for 6.95% of total debt [7]. Operational Efficiency - Accounts receivable turnover ratio was 2.31, down 6.05% year-on-year, and inventory turnover ratio was 3.33, down 10.51% [9]. - The ratio of revenue to fixed asset value has been declining, with the latest figure at 0.39 [10].

Core Viewpoint - The report highlights a decline in revenue and net profit for Zhejiang Xinzhonggang Thermal Power Co., Ltd. in the first half of 2025, attributed to reduced steam sales and lower pricing strategies, while emphasizing the company's commitment to energy efficiency and environmental standards [1][2][3]. Financial Performance - The company's operating income for the first half of 2025 was CNY 364.38 million, a decrease of 17.74% compared to CNY 442.95 million in the same period last year [2][10]. - Total profit amounted to CNY 80.97 million, down 2.04% from CNY 82.66 million year-on-year [2][10]. - Net profit attributable to shareholders was CNY 61.81 million, reflecting a 4.62% decline from CNY 64.80 million [2][10]. - The net cash flow from operating activities increased by 134.50% to CNY 205.04 million, primarily due to reduced cash payments for goods and services [2][10]. Industry Context - The company operates in the "Electricity, Heat, Gas, and Water Production and Supply" sector, specifically in cogeneration, which is encouraged by national policies aimed at promoting energy efficiency and reducing carbon emissions [3][4]. - As of June 2025, China's total installed power generation capacity reached approximately 3.65 billion kilowatts, with a year-on-year growth of 18.7%, indicating a shift towards diversified energy sources [3][4]. Business Operations - The company's steam products are primarily supplied to industrial users, with a total steam sales volume of 1.3282 million tons, down 7.50% year-on-year [5][6]. - The pricing of steam is determined through negotiations based on production costs and market demand, with a reported decrease in steam prices by 11.53% [5][6]. - The company has successfully engaged new industrial clients, including several pharmaceutical and chemical enterprises, to enhance its customer base [6][9]. Strategic Initiatives - The company is focused on improving operational efficiency, achieving a comprehensive thermal efficiency of 87.95% in the first half of 2025, which is above provincial standards [8][10]. - Ongoing projects include the construction of new heating pipelines to expand service areas and meet increasing demand from new industrial clients [8][9]. - The company is also investing in technology upgrades and employee training to enhance its competitive edge in the energy sector [10].

Core Points - The report presents the financial performance of Zhejiang Xinzhonggang Thermal Power Co., Ltd. for the first half of 2025, highlighting a decrease in total assets and net profit compared to the previous year [1][2]. Financial Summary - Total assets at the end of the reporting period amounted to CNY 1,828.62 million, a decrease of 3.00% from the previous year [1]. - The net assets attributable to shareholders decreased to CNY 1,308.13 million, reflecting a decline of 0.77% [1]. - Operating revenue for the period was CNY 364.38 million, down 17.74% year-on-year [1]. - Total profit for the period was CNY 80.97 million, a decrease of 2.04% compared to the same period last year [1]. - Net profit attributable to shareholders was CNY 61.81 million, down 4.62% from the previous year [1]. - The net cash flow from operating activities significantly increased to CNY 205.04 million, representing a 134.50% increase year-on-year [1]. - The weighted average return on net assets was 4.58%, a decrease of 0.54 percentage points from the previous year [1]. - Basic and diluted earnings per share were both CNY 0.15, a decrease of 6.25% compared to the previous year [1]. Shareholder Information - The total number of shareholders at the end of the reporting period was 20,412 [1]. - The largest shareholder, Zhejiang Yuesheng Group Co., Ltd., holds 74.66% of the shares, amounting to 299,021,050 shares [2].

Group 1 - The company has approved the use of up to RMB 300 million of idle self-owned funds for cash management, with a usage period not exceeding 12 months [1][2] - The purpose of cash management is to enhance the efficiency of idle funds, increase cash asset returns, and maximize shareholder benefits while ensuring normal operations and manageable risks [1][2] - The investment products will include high-security, good liquidity, and principal-protected options such as structured deposits, agreement deposits, notice deposits, fixed-term deposits, and large-denomination certificates of deposit [1][2] Group 2 - The resolution is valid for 12 months from the date of approval by the board of directors [2] - The management team is authorized to make investment decisions and sign relevant documents, with the finance department responsible for implementation [2] - The company will fulfill its information disclosure obligations in accordance with the regulations of the Shanghai Stock Exchange [2] Group 3 - The use of idle funds for cash management is expected to improve the efficiency of self-owned funds and increase company revenue, aligning with the interests of the company and its shareholders without affecting the development of its main business [2]