Core Viewpoint - The announcement details the results of the second vesting period of the 2023 restricted stock incentive plan for Hanghua Ink Co., Ltd, including the number of shares listed and the decision-making process involved in the vesting [1][4][10]. Summary by Sections Stock Listing and Vesting Details - The stock listing type is for equity incentive shares, with a total of 4,042,200 shares being listed for circulation [2][3]. - The listing date for these shares is set for September 19, 2025 [4][12]. Decision-Making Process - On August 14, 2023, the company's board of directors approved the incentive plan and its management measures, with independent directors expressing their agreement [4][5]. - The supervisory board also verified the incentive plan and the list of recipients on the same day [5]. Public Disclosure and Voting - The company disclosed relevant announcements on August 15, 2023, and collected proxy votes from shareholders for the plan [6][7]. - The list of recipients for the initial grant was publicly announced on August 31, 2023, following a verification process by the supervisory board [6][8]. Shareholder Meetings - A shareholder meeting on August 30, 2023, approved the incentive plan and related proposals [7][8]. - Subsequent meetings in September 2023 confirmed the list of recipients and adjustments to the plan [9]. Basic Information on Vesting - A total of 118 individuals are included as recipients of the vested shares [10]. - The shares are sourced from the company's directed issuance of A-share common stock [10]. Stock Flow and Capital Changes - The shares will be subject to transfer restrictions for directors and senior management during their tenure and for six months post-departure [11]. - The total share capital of the company will increase to 424,170,700 shares following this vesting, leading to a dilution of existing shareholders' stakes [13][14]. Financial Impact - The vesting of these shares is expected to have a minimal impact on the company's financial results, with the diluted earnings per share calculated based on the new total share capital [15].

Group 1 - The core point of the article is that Hanghua Co., Ltd. announced the results of the second vesting period for its 2023 restricted stock incentive plan, with a total of 4,042,200 shares being listed for trading [2] - The type of shares being listed is for equity incentive, and the subscription method is offline [2] - The shares will be available for trading starting from September 19, 2025 [2]

第二个归属期归属结果暨股份上市公告 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。 证券代码：688571 证券简称：杭华股份 公告编号：2025-043 杭华油墨股份有限公司 关于 2023 年限制性股票激励计划首次授予部分 重要内容提示： 本次股票上市类型为股权激励股份；股票认购方式为网下，上市股数为 4,042,200股。 本次股票上市流通总数为4,042,200股。 本次股票上市流通日期为2025 年 9 月 19 日。 根据中国证券监督管理委员会、上海证券交易所、中国证券登记结算有限责 任公司上海分公司相关业务规定，中国证券登记结算有限责任公司上海分公司于 2025 年 9 月 15 日出具了《证券变更登记证明》，杭华油墨股份有限公司（以下简 称"公司"）完成了 2023 年限制性股票激励计划（以下简称"本次激励计划"） 首次授予部分第二个归属期的股份登记工作。现将有关情况公告如下： 一、本次限制性股票归属的决策程序及相关信息披露 （一）2023年8月14日，公司召开第三届董事会第十五次会议，审议通过了《关 于< ...

证券代码：688571 证券简称：杭华股份 公告编号：2025-042 ●本次变动未导致公司控股股东及实际控制人变更。 杭华油墨股份有限公司 关于共同控股股东股权结构变动的提示性公告 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： ●杭州协丰投资管理合伙企业（有限合伙）（以下简称"协丰投资"）和杭 州市实业投资集团有限公司（以下简称"杭实集团"）为杭华油墨股份有限公司 （以下简称"公司"或"杭华股份"）共同的控股股东、实际控制人，双方保持 一致行动，对公司形成共同控制。 ●本次变动属于公司控股股东、实际控制人之一的协丰投资内部股权结构变 动，未导致其所持有的公司股份数量及持股比例发生变化，不会对公司经营产生 重大影响，不触及要约收购。 近日，公司收到协丰投资通知，获悉其已完成变更普通合伙人、执行事务合 伙人，以及部分合伙人减资和退伙的工商变更登记。此次调整后，协丰投资的普 通合伙人、执行事务合伙人由朱柏冬先生变更为曹文旭先生；同时部分合伙人通 过减资或退伙方式减少其所持协丰投资出资份额或实现完全退出，协丰投 ...

Core Viewpoint - Hanghua Co., Ltd. reported a decline in revenue and net profit for the first half of 2025, indicating challenges in the printing market due to external factors and increased competition. Financial Performance - Total revenue for the first half of 2025 was 571 million yuan, a decrease of 3.0% year-on-year [1] - Net profit attributable to shareholders was 46.51 million yuan, down 22.38% year-on-year [1] - Gross margin was 24.59%, a decrease of 5.58% year-on-year [1] - Net margin was 8.1%, down 19.31% year-on-year [1] - Total expenses (selling, administrative, and financial) amounted to 64.41 million yuan, accounting for 11.28% of revenue, an increase of 8.2% year-on-year [1] Balance Sheet Highlights - Accounts receivable represented 199.29% of the latest annual net profit, indicating a significant amount of outstanding payments [1][17] - Cash and cash equivalents increased by 57.79% year-on-year to 862 million yuan [1] - Interest-bearing debt decreased by 84.65% to 5.41 million yuan [1] Operational Insights - The company faced a challenging market environment, with the printing market experiencing slow growth and intensified price competition [5] - Sales expenses increased by 17.84% due to rising employee compensation and travel costs [5] - Management expenses decreased by 11.3% as a result of changes in accounting for stock-based compensation [5] Future Outlook - The company anticipates a complex external environment in 2025, with ongoing challenges in the printing market and competition [18] - Plans to enhance operational efficiency and market competitiveness through value marketing and product upgrades [18]

Core Viewpoint - The legal opinion letter from Grandall Law Firm (Shanghai) confirms that Hanghua Ink Co., Ltd.'s stock incentive plan adjustments, including price adjustments, vesting conditions, and the cancellation of certain restricted stocks, have received the necessary approvals and comply with relevant laws and regulations [1][6][12]. Group 1: Price Adjustment - The grant price for the restricted stock has been adjusted from RMB 3.30 to RMB 3.10 per share due to a cash dividend distribution of approximately RMB 0.1964 per share [7][8]. - The adjustment method follows the formula: P = P0 - V, where P0 is the original grant price, V is the cash dividend per share, and P is the adjusted grant price [7]. Group 2: Vesting Conditions - The second vesting period for the restricted stock is defined as the period from 24 months after the initial grant date to the last trading day within 36 months from the grant date, with a vesting ratio of 50% of the total granted restricted stock [8][9]. - The vesting conditions have been met, including no adverse audit opinions and compliance with performance targets, such as achieving a net profit of at least RMB 2.44 billion over two years [9][10]. Group 3: Cancellation of Restricted Stocks - A total of 86,300 shares of restricted stock have been canceled due to the departure of one individual and performance results of three individuals, which did not meet the required performance criteria [12]. - The cancellation aligns with the provisions of the stock incentive plan and has been duly approved by the company's board [11][12]. Group 4: Legal Compliance - The adjustments and actions taken regarding the stock incentive plan are in accordance with the Company Law, Securities Law, and relevant regulations, ensuring that all necessary approvals have been obtained [6][12].

Core Viewpoint - The company has decided to cancel a portion of the 2023 restricted stock incentive plan, specifically 86,300 shares that were granted but not yet vested, due to reasons including employee departures and performance issues [1][6][7]. Decision Process and Disclosure - The company held a board meeting on August 20, 2025, where the decision to cancel the shares was approved, following the procedures outlined in the incentive plan draft and authorized by the shareholders [1][4]. - Prior meetings included discussions and approvals regarding the incentive plan and its management, with independent directors providing their consent [2][3][5]. Reasons for Cancellation - The cancellation of shares was due to one employee leaving the company and another retiring, resulting in 70,000 shares being rendered non-vested [6]. - Additionally, three employees did not meet performance standards, leading to the cancellation of 16,300 shares based on their performance evaluations [6]. Impact on the Company - The cancellation of these shares is not expected to have a significant impact on the company's financial status or operational results, and it does not harm the interests of the company or its shareholders [7]. Committee Opinions - The Board's Compensation and Assessment Committee agreed that the cancellation aligns with relevant laws and regulations, confirming that the process was legal and did not harm shareholder interests [7][8]. Legal Opinion - The legal firm involved confirmed that all necessary approvals for the adjustments and cancellations have been obtained, and the actions taken are in compliance with applicable laws and the company's regulations [8].

Core Points - The company has announced that the second vesting period of its 2023 restricted stock incentive plan has met the vesting conditions, allowing 404.22 million shares to vest for 118 eligible participants [1][14][15] Summary by Sections Incentive Plan Overview - The total number of shares to be granted under the incentive plan is 404.22 million, which represents 2.22% of the company's total share capital of 4,160 million shares [1][14] - The vesting arrangement includes two periods, with 50% of the shares vesting in each period [1][11] Performance Assessment Criteria - The performance assessment for the first vesting period requires either a revenue of no less than 1.2 billion yuan or a net profit of no less than 75 million yuan for the year 2023 [1][11] - For the second vesting period, the cumulative revenue must be no less than 2.5 billion yuan or the cumulative net profit must be no less than 165 million yuan over the two years from 2023 to 2024 [2][11] Vesting Conditions - The vesting conditions have been confirmed as met, with no adverse audit opinions or violations of regulations affecting the company or the participants [12][15] - The vesting price has been adjusted from 3.45 yuan to 3.10 yuan per share due to the completion of the company's annual profit distribution [1][15] Handling of Non-Vested Shares - A total of 86,300 shares will be canceled due to participants no longer qualifying for the incentive plan, including one participant who left the company and one who retired [14][15] Legal and Compliance - The board and the supervisory committee have confirmed that the vesting conditions and the handling of shares comply with relevant laws and regulations [15][20]

Core Viewpoint - Hanghua Ink Co., Ltd. reported a revenue of 571 million yuan and a net profit of 46.51 million yuan for the first half of 2025, highlighting its focus on environmentally friendly ink and functional materials [2] Group 1: Company Overview - Hanghua Ink specializes in the research, production, and sales of energy-saving and environmentally friendly inks, as well as electronic chemical materials, serving various industries including food and beverage, pharmaceuticals, and packaging [2] - The company is recognized as a high-tech enterprise with leading production scale, technology level, and product quality in the domestic industry, making it one of the most competitive and influential brands in the printing materials sector [2] - In the first half of the year, the company invested 24.34 million yuan in R&D, accounting for 4.26% of its revenue, demonstrating its commitment to innovation [2] Group 2: Strategic Acquisition - Hanghua Ink completed a controlling acquisition of Zhejiang Dick Donghua Fine Chemical Co., Ltd. in the reporting period, integrating it into its consolidated financial statements from May [3] - This acquisition represents a strategic move to extend its product offerings from traditional inks to electronic chemical materials, particularly focusing on the domestic production of color photoresist color paste, which is crucial for the display manufacturing sector [3] - The color photoresist color paste produced by Zhejiang Dick is a key raw material for color photoresists, essential for manufacturing color filters in LCDs, indicating a growing market demand driven by advancements in consumer electronics and display technologies [3] Group 3: Product Development and Market Outlook - Zhejiang Dick is actively collaborating with leading domestic manufacturers of color photoresists to refine the performance of red pigment dispersions and is testing various color dispersions for market readiness [4] - The company is optimizing its production processes to enhance the stability of mass production and is exploring improvements in the brightness of display colors through raw material research [4] - Despite facing international environmental challenges, Zhejiang Dick remains optimistic about future collaborations with top domestic enterprises in the display industry [4]

Group 1 - The company reported a revenue of 571,072,280.70 yuan for the first half of 2025, representing a year-on-year decrease of 3.00% [2] - The net profit attributable to shareholders of the listed company was 46,505,600.56 yuan, showing a year-on-year decline of 22.38% [2]