Core Viewpoint - The financial performance of Lude Environment (688156) for the first half of 2025 shows a slight increase in revenue but significant losses in net profit, indicating potential challenges in its business model and financial health [1][2]. Financial Performance - Total revenue for the reporting period reached 147 million yuan, a year-on-year increase of 1.08% [1] - Net profit attributable to shareholders was -13.07 million yuan, a year-on-year decline of 969.04% [1] - In Q2, total revenue was 83.89 million yuan, up 8.32% year-on-year, while net profit was -14.43 million yuan, down 243.65% year-on-year [1] - Gross margin stood at 18.93%, a decrease of 44.28% year-on-year, and net margin was -8.0%, down 1243.96% year-on-year [1] - Total expenses (selling, administrative, and financial) amounted to 44.67 million yuan, accounting for 30.4% of revenue, an increase of 20.99% year-on-year [1] - Earnings per share were -0.13 yuan, a decrease of 1400.0% year-on-year [1] Business Model and Investment Returns - The company's net margin last year was -24.13%, indicating low added value in its products or services [2] - Historical data shows a median ROIC of 8.85%, with the worst year being 2024 at -4.4%, reflecting poor investment returns [2] - The company has reported losses in two out of four annual reports since its listing, suggesting a fragile business model [2] Cash Flow and Debt Situation - Cash flow metrics indicate that cash and cash equivalents represent only 9.86% of total assets and 46.81% of current liabilities [3] - The interest-bearing debt ratio has reached 30.83%, with total interest-bearing liabilities to the average operating cash flow over the past three years at 41.39% [3] - Financial expenses account for 77.19% of the average operating cash flow over the past three years, raising concerns about financial sustainability [3] Analyst Expectations - Analysts project a performance of 7 million yuan for 2025, with an average earnings per share of 0.07 yuan [4]

Group 1 - The company reported a total operating revenue of 147 million yuan for the first half of 2025, representing a year-on-year increase of 1.08% [1] - The net profit attributable to shareholders of the parent company was -13.07 million yuan, compared to a net profit of 1.5044 million yuan in the same period last year [1] - The basic earnings per share were -0.13 yuan [1]

Group 1 - The core point of the article is that Lude Environment (SH 688156) held its fifth board meeting on August 29, 2025, to review the semi-annual evaluation report of the "Quality Improvement and Efficiency Enhancement" action plan for 2025 [1] - For the fiscal year 2024, Lude Environment's revenue composition is as follows: environmental governance accounts for 93.72%, while other businesses account for 6.28% [1] - As of the report, Lude Environment has a market capitalization of 2.3 billion yuan [1]

Group 1 - The board of directors of Lude Environmental Technology Co., Ltd. held its second meeting on August 29, 2025, with all 7 directors present, ensuring compliance with relevant laws and regulations [1][2] - The board approved the 2025 semi-annual report and its summary, which is available on the Shanghai Stock Exchange website [1][2] - The board also approved a special report on the storage, management, and actual use of raised funds for the first half of 2025, with unanimous support [2] - A semi-annual evaluation report on the "Quality Improvement and Efficiency Enhancement" action plan for 2025 was also approved, receiving unanimous votes [2] - The board approved the formulation and revision of certain corporate governance systems, with all directors voting in favor [2][3]

Core Viewpoint - The report highlights the financial performance of Road Environmental Technology Co., Ltd. for the first half of 2025, indicating a slight increase in revenue but significant losses in net profit due to various operational challenges and market conditions [1]. Company Overview - Company Name: Road Environmental Technology Co., Ltd. - Stock Code: 688156 - Stock Exchange: Shanghai Stock Exchange, Sci-Tech Innovation Board [2][3]. Financial Performance - Total assets at the end of the reporting period were approximately CNY 1.69 billion, a decrease of 1.92% compared to the end of the previous year [3]. - Operating revenue reached CNY 146.96 million, reflecting a year-on-year increase of 1.08% [5]. - Total profit was reported at a loss of CNY 22.10 million, with a net profit attributable to shareholders of CNY -13.07 million, marking a significant decline of 969.04% compared to the previous year [3][5]. - The net profit after deducting non-recurring gains and losses was CNY -14.30 million [5]. Business Segments - The company’s white wine residue biological fermentation feed business expanded, with production reaching 73,100 tons, a growth of 53.28% year-on-year, and sales volume increasing by 42.68% to 72,500 tons [5]. - Revenue from the biological fermentation feed segment was CNY 109.75 million, showing slight growth despite low prices for raw materials [5]. - The inorganic solid waste treatment service business generated revenue of CNY 28.61 million, with an increase in processing volume compared to the previous year [5][6]. Challenges and Costs - The company faced challenges such as declining prices for feed products and increased operational costs due to new factory openings, leading to a rise in management expenses by 18.42% and financial costs by 153.16% [5][6]. - The collection period for accounts receivable extended, impacting cash flow, although efforts to recover historical debts resulted in a reduction of credit impairment losses by CNY 10.12 million [6]. Shareholder Information - The largest shareholder, Ji Guangming, holds 27.70% of the shares, followed by Wu Chuanqing with 4.33% [7].

路德生物环保科技股份有限公司 证券代码：688156 证券简称：路德环境 公告编号：2025-035 路德生物环保科技股份有限公司 会议召开方式：上证路演中心网络互动 会议问题征集：投资者可于 2025 年 09 月 03 日（星期三）16:00 前登录 上 证 路 演 中 心 网 站 首 页 点 击 " 提 问 预 征 集 " 栏 目 或 通 过 公 司 邮 箱 zhengquanbu@road-group.com 进行提问。公司将在说明会上对投资者普遍关注 的问题进行回答。 路德生物环保科技股份有限公司（以下简称"公司"）已于 2025 年 8 月 30 日在上海证券交易所网站（www.sse.com.cn）披露了《2025 年半年度报告》及 其摘要，为便于广大投资者更全面深入地了解公司 2025 年半年度经营成果、财 务状况，公司计划于 2025 年 09 月 04 日（星期四）15:00-17:00 参加 2025 年半 年度科创板节能环保行业集体业绩说明会，就投资者关心的问题进行交流。 一、说明会类型 关于参加2025年半年度科创板节能环保行业集体业绩说明 会的公告 本公司董事会及全体董事保证本公告 ...

路德生物环保科技股份有限公司 证券代码：688156 证券简称：路德环境 公告编号：2025-033 路德生物环保科技股份有限公司 2025 年半年度募集资金存放、管理与实际使用情况的专 项报告 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、准确性和完整性依法承担法律责任。 根据《上市公司募集资金监管规则》《上海证券交易所上市公司自律监管指引第1号——规 范运作》《上海证券交易所科创板股票上市规则》及《路德生物环保科技股份有限公司募集资金 管理办法》（以下简称"《募集资金管理办法》"）等规定，路德生物环保科技股份有限公司（以 下简称"公司"，曾用名为路德环境科技股份有限公司）董事会对2025年半年度募集资金存放、 管理与实际使用情况专项报告说明如下： 一、募集资金基本情况 （一）扣除发行费用后的实际募集资金金额、资金到账时间 1、2020 年首次公开发行股票实际募集资金情况 经中国证券监督管理委员会《关于同意路德环境科技股份有限公司首次公开发行股票注册的 批复》（证监许可[2020]1915 号）核准，并经上海证券交易所同意，公司首次向社会公开发行 人民 ...

关于制定及修订部分公司治理制度的公告 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、准确性和完整性依法承担法律责任。 路德生物环保科技股份有限公司（以下简称"公司"）于 2025 年 8 月 29 日召开第五届董事会第二次会议审议通过了《关于制定及修订部分公司治理制度 的议案》。为推动公司治理制度相关规定符合法律、行政法规、部门规章、规范 性文件和上海证券交易所业务规则的最新规定，提高公司内部控制管理水平，促 进公司的规范运作，根据《中华人民共和国公司法》《中华人民共和国证券法》 《上市公司章程指引（2025 年修订）》《上海证券交易所科创板股票上市规则》 《上海证券交易所科创板上市公司自律监管指引第 1 号——规范运作》等法律法 规的规定和规范性文件的要求，并结合《路德生物环保科技股份有限公司章程》 的修订情况及公司自身实际情况，公司对原有的部分治理制度进行了系统性的梳 理修订，并新增制定公司部分治理制度，具体明细如下表所示： 路德生物环保科技股份有限公司 证券代码：688156 证券简称：路德环境 公告编号：2025-034 路德生物环保科技股份有限 ...

公司根据《行动方案》的内容，积极开展和切实履行各项工作，现将 2025 年上半年的执行情况汇报如下： 一、聚焦主业经营，提升经营质量 2025 年上半年，面对复杂多变的市场环境，公司坚定聚焦生物制造主业及 优势领域，以白酒糟生物发酵饲料业务为核心发力点，积极抢抓产业发展机遇， 全力推进优质产能高效释放，加快拓展市场份额，驱动公司业务稳健发展。凭借 精准的市场预判及优秀的产品品质，公司白酒糟生物发酵饲料工厂产能持续攀 升，成功开发出多家农牧业头部企业集团客户，产品质量与售后服务收获客户高 度赞誉。2025 年上半年，公司实现营业收入 14,696.09 万元，其中生物发酵饲 料业务表现亮眼，销量达 7.25 万吨，较去年同期增长 42.68%，销售收入达 10,975.19 万元，同比增长 4.39%。 1、持续巩固提升优势产业 路德生物环保科技股份有限公司 路德生物环保科技股份有限公司 2025 年度"提质增效重回报"行动方案的 半年度评估报告 为践行以"投资者为本"的发展理念，提高上市公司质量，树立良好市场形 象，助力市场信心提振、资本市场稳定和经济高质量发展，路德生物环保科技股 份有限公司（以下简称"公司 ...

第五届董事会第二次会议决议公告 路德生物环保科技股份有限公司 证券代码：688156 证券简称：路德环境 公告编号：2025-032 路德生物环保科技股份有限公司 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、准确性和完整性依法承担法律责任。 一、董事会会议召开情况 路德生物环保科技股份有限公司（以下简称"公司"）第五届董事会第二次 会议于 2025 年 8 月 29 日在公司会议室以现场与通讯表决相结合的方式召开，本 次会议通知已于 2025 年 8 月 19 日以电子邮件的方式发出。本次会议应出席董事 7 名，实到 7 名，本次会议由董事长季光明先生主持。会议的召集、召开和表决情 况符合《中华人民共和国公司法》（以下简称"《公司法》"）等有关法律、法 规及《路德生物环保科技股份有限公司章程》（以下简称"公司章程"）的规定， 形成的决议合法、有效。 二、董事会会议审议情况 参会董事审议并以投票表决方式通过了下列议案： （一）审议通过《关于公司 2025 年半年度报告及其摘要的议案》 具体内容详见同日披露于上海证券交易所网站（www.sse.com.cn ...