Core Viewpoint - Jiu Ri New Materials (688199) reported a narrowed loss in its 2025 mid-year financial results, with total revenue declining and net profit improving year-on-year [1] Financial Performance - Total revenue for the first half of 2025 was 713 million yuan, a decrease of 7.11% compared to the previous year [1] - The net profit attributable to shareholders was -9.0573 million yuan, showing a year-on-year improvement of 29.69% [1] - In Q2 2025, total revenue was 357 million yuan, down 13.14% year-on-year, while net profit attributable to shareholders was 1.467 million yuan, up 117.28% year-on-year [1] - Gross margin was 13.5%, a decrease of 1.96% year-on-year, while net margin was -1.75%, an increase of 4.75% year-on-year [1] - Total operating expenses (selling, administrative, and financial) amounted to 55.6017 million yuan, accounting for 7.79% of revenue, an increase of 7.02% year-on-year [1] - Earnings per share were -0.06 yuan, an increase of 25.0% year-on-year, while operating cash flow per share was 0.25 yuan, up 726.08% year-on-year [1] Debt and Cash Flow - The company has a healthy cash position, with cash assets amounting to 686 million yuan, a 15.70% increase year-on-year [1][2] - The debt situation shows an interest-bearing debt of 1.076 billion yuan, a decrease of 6.04% year-on-year, with an interest-bearing asset-liability ratio of 24.91% [3] Market Position and Analyst Expectations - Analysts expect the company's performance in 2025 to reach 45 million yuan, with an average earnings per share forecast of 0.28 yuan [4] - The company has seen new investments from several funds, indicating growing interest in its stock [5]

一、强化主业优势，提升市场占有率 天津久日新材料股份有限公司 关于公司 2025 年度"提质增效重回报"行动方案 的半年度评估报告 天津久日新材料股份有限公司（以下简称公司）始终践行"以投资者为本" 的上市公司发展理念，维护广大投资者特别是中小投资者的利益，基于对公司未 来持续稳定发展的信心和对公司长期价值的认可，公司于 2025 年 4 月 19 日发布 了《天津久日新材料股份有限公司关于公司 2024 年度"提质增效重回报"行动 方案年度评估报告暨 2025 年度"提质增效重回报"行动方案》，对公司在 2024 年度开展的"提质增效重回报"行动进行了全面评估，并在此基础上，为进一步 深化提质增效举措，持续提升公司核心竞争力，公司制定了《2025 年度"提质 增效重回报"行动方案》（以下简称《行动方案》）。 2025 年上半年，公司切实履行并持续评估《行动方案》的具体举措，现将 《行动方案》半年度实施情况报告如下： 为实现公司光引发剂产品 184 全产业链的贯通，进一步增强市场竞争力，并 延伸公司控股孙公司湖南弘润化工科技有限公司（以下简称弘润化工）的苯甲酸 产品以完善产业布局，公司于 2025 年上半年对 ...

一、本次计提减值准备情况概述 根据《企业会计准则》及天津久日新材料股份有限公司（以下简称公司）会 计政策、会计估计的相关规定，为真实、准确地反映公司截至 2025 年 6 月 30 日的财务状况及经营成果，本着谨慎性原则，公司对截至 2025 年 6 月 30 日公司 及子公司的应收账款、其他应收款、长期应收款、存货等资产进行了减值测试， 2025 年半年度确认的各项资产减值损失合计为 650.14 万元，具体情况如下： 单位：万元 | 资产名称 | 2025 年半年度计提减值损失金额 | | --- | --- | | 坏账损失 | -63.30 | | 存货跌价损失 | -586.84 | | 合计 | -650.14 | 二、本次计提资产减值准备的具体说明 证券代码：688199 证券简称：久日新材 公告编号：2025-046 天津久日新材料股份有限公司 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、准确性和完整性依法承担法律责任。 四、其他说明 本次计提的各项资产减值准备的相关财务数据未经会计师事务 ...

证券代码：688199 证券简称：久日新材 公告编号：2025-044 天津久日新材料股份有限公司 截 至 2025 年 6 月 30 日 ， 公 司 对 募 集 资 金 投 资 项 目 累 计 投 入 1,128,108,981.83 元，其中：于 2019 年 10 月 31 日起至 2024 年 12 月 31 日止 期 间 使 用 募 集 资 金 1,068,791,172.99 元 ； 2025 年 半 年 度 使 用 募 集 资 金 59,317,808.84 元。募集资金余额为 581,183,971.45 元。 二、募集资金的管理情况 根据有关法律法规及《上市公司募集资金监管规则》《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》的规定，遵循规范、安全、高效、透明的原则，公司制定了《天津久日 新材料股份有限公司募集资金管理制度》（以下简称《管理制度》），对募集资 1 金的存储、审批、使用、管理与监督做出了明确的规定，以在制度上保证募集资 金的规范使用。 2019 年 10 月 30 日，公司、久日新材料（东营）有限公司（以下简称东营 久日 ...

天津久日新材料股份有限公司 第五届监事会第二十四次会议决议公告 本公司监事会及全体监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。 证券代码：688199 证券简称：久日新材 公告编号：2025-043 一、监事会会议召开情况 天津久日新材料股份有限公司（以下简称公司）第五届监事会第二十四次会 议（以下简称本次会议）于 2025 年 8 月 21 日在公司会议室以现场方式召开，本 次会议通知已于 2025 年 8 月 10 日以专人送出等方式送达全体监事。本次会议应 出席监事 3 人，实际出席监事 3 人，由监事会主席罗想先生召集并主持。本次会 议的召开符合《中华人民共和国公司法》及《天津久日新材料股份有限公司章程》 （以下简称《公司章程》）等有关法律、法规、规范性文件的规定，程序合法。 二、监事会会议审议情况 经与会监事认真讨论，审议并通过如下事项： （一）审议通过《关于公司 2025 年半年度报告及摘要的议案》 经与会监事审议，公司监事会认为：公司 2025 年半年度报告及摘要的编制 和审议程序符合法律、法规、《公司章程》和公司内部管理制 ...

证券代码：688199 证券简称：久日新材 公告编号：2025-045 关于参与设立的投资基金减资、延长存续期 暨关联交易的公告 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。 重要内容提示： 交易简要内容：截至 2025 年 4 月 6 日，天津久日新材料股份有限公司（以 下简称公司）参与设立的天津市瑞武股权投资基金合伙企业（有限合伙）（以下简 称合伙企业、瑞武基金）共收回投资款 2,300.00 万元，并已向全体合伙人分配 2,260.00 万元，按照《天津市瑞武股权投资基金合伙企业（有限合伙）合伙协议》 （以下简称《合伙协议》）的约定，瑞武基金拟对已分配的 2,260.00 万元进行减资 处理，即瑞武基金的认缴出资额由 10,000.00 万元扣减 2,260.00 万元后变更为 7,740.00 万元，各合伙人按照出资比例等比例减资。本次减资完成后，公司对瑞 武基金的认缴出资额将由3,800.00万元减少至2,941.20万元，认缴出资比例不变， 仍为 38.00%。同时，鉴于瑞武基金存续期将于 2025 年 11 ...

Meeting Overview - The fifth meeting of the Supervisory Board of Tianjin Jiuri New Materials Co., Ltd. was held on August 21, 2025, with all three supervisors present, ensuring compliance with relevant laws and regulations [1][2]. Financial Reporting - The Supervisory Board approved the 2025 semi-annual report and its summary, confirming that the report's preparation and review processes adhered to legal and internal regulations, and accurately reflected the company's financial status without any misleading information [1][2]. Fund Management - The Supervisory Board approved the special report on the management and actual use of raised funds for the first half of 2025, indicating proper management practices [2]. Investment Fund Adjustment - The Supervisory Board approved the reduction of capital and extension of the duration of an investment fund established by the company, stating that this decision would optimize the fund's capital structure and was based on a comprehensive assessment of market conditions and investment projects [2][3].

Core Viewpoint - The company has implemented a "Quality Improvement and Efficiency Enhancement" action plan for 2025, focusing on strengthening its core business, optimizing production capacity, and enhancing market competitiveness while maintaining investor interests [1][8]. Group 1: Business Performance and Strategy - In the first half of 2025, the company achieved a net profit attributable to shareholders of -9.0573 million yuan, a reduction in loss by 3.8239 million yuan compared to the same period last year, indicating a 29.69% improvement in loss narrowing [1]. - The company has successfully implemented a price increase strategy for its photoinitiator products, leading to a slight profit in Q2 2025 and an overall positive operational trend [1]. - The company has completed the development of 29 semiconductor g-line and i-line photoresist products, with 13 successfully introduced to the market, indicating strong market acceptance [3]. Group 2: Production and Capacity Optimization - The company has optimized the use of 50 million yuan of previously unutilized fundraising to support the H4 ketone project at its subsidiary, enhancing production efficiency and self-sufficiency in key intermediates [2]. - The overall capacity utilization rate of the company's subsidiary in Inner Mongolia has significantly improved, with several products reaching or nearing design capacity [2]. - The company is advancing digital capabilities, including the launch of an AI-driven customer service system to enhance response speed and resource allocation [3]. Group 3: Innovation and Product Development - The company holds 192 patents, including 128 invention patents, and has developed a range of macromolecular products, with significant sales in UV LED photoinitiators and cationic photoinitiators [5]. - The company has established a project database to track customer needs and provide comprehensive solutions, enhancing its market promotion efforts [5]. - An internal innovation competition has been held to stimulate employee creativity, with rewards provided to winning teams to encourage ongoing innovation [6]. Group 4: Governance and Compliance - The company is enhancing its internal governance structure and compliance awareness among key personnel through targeted training sessions [7]. - A special task force has been established to revise internal control systems, ensuring compliance and effective governance [7]. - The company has been recognized as a "Green Supply Chain Management Enterprise" for its commitment to sustainable development and carbon reduction initiatives [7]. Group 5: Investor Relations and Communication - The company emphasizes investor relations, conducting multiple communication initiatives, including a performance briefing and interactive Q&A sessions, achieving a 100% response rate to investor inquiries [8]. - The company has utilized new media platforms to enhance communication with investors, publishing 27 articles to keep them informed [8]. - Continuous evaluation of the action plan will be conducted to ensure alignment with investor interests and market expectations [8].

Summary of Key Points Core Viewpoint - The company has announced a provision for asset impairment totaling 6.50 million yuan for the first half of 2025, reflecting a cautious approach to accurately represent its financial status and operational results as of June 30, 2025 [1][2][3]. Group 1: Impairment Provision Overview - The company conducted impairment testing on accounts receivable, other receivables, long-term receivables, and inventory, resulting in a total impairment loss of 6.50 million yuan [1][2]. - The breakdown of the impairment losses includes 0.63 million yuan for bad debts and 5.87 million yuan for inventory write-downs [1][2]. Group 2: Specifics of Bad Debt Loss - The bad debt loss of 0.63 million yuan was primarily due to an increase in accounts receivable and changes in aging of long-term receivables, leading to a higher provision for bad debts [1][2]. Group 3: Inventory Write-down Details - The inventory write-down of 5.87 million yuan was determined based on the lower of cost or net realizable value, with specific calculations for finished goods and materials held for sale [2]. Group 4: Impact on Financial Statements - The total asset impairment and credit impairment losses of 6.50 million yuan will impact the company's consolidated profit before tax by the same amount [2][3]. Group 5: Compliance and Assurance - The impairment provision complies with the accounting standards and reflects the company's actual situation, ensuring no harm to the interests of the company and its shareholders [3].

Fundraising Overview - The company raised a total of RMB 1,854,157,424.00 from the public offering of 27,806,800 shares at a price of RMB 66.68 per share, with a net amount of RMB 1,709,292,953.28 after deducting issuance costs [1] - As of June 30, 2025, the company has invested RMB 1,068,791,172.99 in projects funded by the raised capital [2] Fund Management - The company has established a fundraising management system to ensure the proper use of raised funds, adhering to principles of regulation, safety, efficiency, and transparency [2] - Multiple special accounts for fundraising have been opened at various banks, including Shanghai Pudong Development Bank and China Merchants Bank, with a tripartite supervision agreement in place [3][4] Fund Usage and Status - As of June 30, 2025, the balance of the fundraising accounts was RMB 85,727,172.32, with additional investments in financial products totaling RMB 610 million [6][15] - The company has utilized part of the idle funds for cash management, generating a total of RMB 164,120,630.38 in investment income by June 30, 2025 [15] Project Investment and Adjustments - The company has made significant adjustments to its investment projects, including the termination of the East Dongying project due to regulatory and market conditions, reallocating funds to other projects [8][9] - The company has also postponed several projects, including the semiconductor materials research laboratory and the light-curing technology research center, due to various external factors and strategic realignments [10][12] Financial Performance - The company reported a total investment of RMB 59,317,808.84 in the current year, with a cumulative investment of RMB 1,128,108,981.83 in various projects [7][8] - The proportion of funds reallocated from the original investment projects reached 78.38% [7] Future Outlook - The company plans to continue its focus on the light-curing and semiconductor industries, with ongoing adjustments to its project timelines and investment strategies to align with market demands [11][14]