证券代码：000009 证券简称：中国宝安 公告编号：2025-032 中国宝安集团股份有限公司 关于发行中期票据及超短期融资券的公告 本公司及董事局全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈 述或者重大遗漏。 为进一步拓宽融资渠道，改善公司债务结构，增加长期债券信用资金，促进公 司持续稳定发展，中国宝安集团股份有限公司（以下简称"公司"）于 2025 年 8 月 28 日召开的第十五届董事局第五次会议，审议通过了《关于发行中票及超短融的议案》， 公司拟向中国银行间市场交易商协会申请同时注册发行总额不超过人民币 30 亿元的 中期票据（以下简称"中票"）和不超过 30 亿元的超短期融资券（以下简称"超短融"）。 具体情况如下： 一、发行方案的主要内容 1、注册规模 本次拟同时注册中票和超短融的规模分别为不超过 30 亿元人民币。本次债券 在完成必要的发行注册手续后，既可以采取一次发行，也可以采取分期发行的方式， 具体发行期数及各期发行规模提请股东大会授权董事局并由董事局授权董事局主席 根据公司资金需求情况和发行时市场情况确定。 2、发行期限 中票不超过 10 年，具体发行期限根据公司的 ...

[Important Notes, Table of Contents, and Definitions](index=2&type=section&id=Item%20I%20Important%20Notes%2C%20Table%20of%20Contents%2C%20and%20Definitions) This section provides essential preliminary information, a structured table of contents, and key definitions to ensure a clear understanding of the report's content [Important Notes](index=2&type=section&id=Important%20Notes) The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report, with no plans for cash dividends, bonus shares, or capital reserve conversions - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report[4](index=4&type=chunk) - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital[6](index=6&type=chunk) [Table of Contents](index=3&type=section&id=Table%20of%20Contents) The report's table of contents clearly lists nine main chapters, providing structured information navigation from important notes to financial reports and other submitted data - The report comprises nine main chapters, covering important notes, company profile, management discussion and analysis, corporate governance, significant events, share changes, bond information, financial reports, and other submitted data[9](index=9&type=chunk) [Reference Documents](index=4&type=section&id=Reference%20Documents) Reference documents include the semi-annual report text signed by the legal representative, financial report text, original drafts of publicly disclosed documents in designated newspapers, and other relevant materials - Reference documents include the semi-annual report text signed by the legal representative, financial report text, original drafts of publicly disclosed documents in designated newspapers, and other relevant materials[11](index=11&type=chunk)[12](index=12&type=chunk)[13](index=13&type=chunk)[14](index=14&type=chunk) [Definitions](index=5&type=section&id=Definitions) This section defines common terms used in the report, clarifying references to key entities like "China Baoan Group," "BTR," and "Mayinglong" to ensure accurate understanding of the content Key Definitions | Term | Definition | | :--- | :--- | | China Baoan Group, the Company, the Group | China Baoan Group Co., Ltd | | BTR | BTR New Material Group Co., Ltd | | International Precision | International Precision Group Limited | | Youcheng Technology | Zhangjiagang Youcheng New Energy Technology Co., Ltd | | Mayinglong | Mayinglong Pharmaceutical Group Co., Ltd | | Lvjin High-Tech | Chengdu Lvjin High-Tech Co., Ltd | | Gumaling Gold Mine | Ji'an Gumaling Gold Mine Co., Ltd | [Company Profile and Key Financial Indicators](index=6&type=section&id=Item%20II%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section provides an overview of the company's basic information and presents key accounting data and financial indicators for the reporting period [I. Company Profile](index=6&type=section&id=I.%20Company%20Profile) The company's stock abbreviation is "China Baoan," stock code 000009, listed on the Shenzhen Stock Exchange, with Huang Xu as its legal representative Company Basic Information | Indicator | Content | | :--- | :--- | | Stock Abbreviation | China Baoan | | Stock Code | 000009 | | Stock Exchange | Shenzhen Stock Exchange | | Company Chinese Name | China Baoan Group Co., Ltd | | Legal Representative | Huang Xu | [II. Contact Person and Contact Information](index=6&type=section&id=II.%20Contact%20Person%20and%20Contact%20Information) The company's Board Secretary is Guo Shanqing, Securities Affairs Representatives are Li Zhe and Zhang Xiaoming, with the contact address at Floors 28 and 29, Block A, Baoan Plaza, 1002 Sungang East Road, Shenzhen Contact Persons and Contact Information | Position | Name | Contact Address | Phone | Fax | Email | | :--- | :--- | :--- | :--- | :--- | :--- | | Board Secretary | Guo Shanqing | Floors 28 and 29, Block A, Baoan Plaza, 1002 Sungang East Road, Shenzhen | 0755-25170336 | 0755-25170367 | zgbajt@163.net | | Securities Affairs Representative | Li Zhe, Zhang Xiaoming | Floors 28 and 29, Block A, Baoan Plaza, 1002 Sungang East Road, Shenzhen | 0755-25161202, 0755-25170382 | 0755-25170300 | zgbajt@163.net | [III. Other Information](index=6&type=section&id=III.%20Other%20Information) The company's contact information, information disclosure and placement locations, and other relevant data remained unchanged during the reporting period, with specific details available in the 2024 annual report - The company's registered address, office address, website, email, and other contact information remained unchanged during the reporting period[20](index=20&type=chunk) - Information disclosure and placement locations remained unchanged during the reporting period[21](index=21&type=chunk) [IV. Key Accounting Data and Financial Indicators](index=7&type=section&id=IV.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) During this reporting period, the company's operating revenue increased by 8.07% year-on-year, net profit attributable to listed company shareholders grew by 24.51%, but net cash flow from operating activities significantly decreased by 93.14% year-on-year Key Accounting Data and Financial Indicators (Current Period vs. Prior Year) | Indicator | Current Period (RMB) | Prior Year (RMB) | Change from Prior Year | | :--- | :--- | :--- | :--- | | Operating Revenue | **10,839,305,325.03** | 10,029,771,698.37 | **8.07%** | | Net Profit Attributable to Shareholders of Listed Company | **243,786,781.48** | 195,791,762.24 | **24.51%** | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Items) | **126,746,768.55** | 195,764,799.39 | **-35.26%** | | Net Cash Flow from Operating Activities | **18,425,921.17** | 268,603,653.86 | **-93.14%** | | Basic Earnings Per Share (RMB/share) | **0.0945** | 0.0759 | **24.51%** | | Diluted Earnings Per Share (RMB/share) | **0.0945** | 0.0759 | **24.51%** | | Weighted Average Return on Net Assets | **2.43%** | 1.94% | **0.49%** | | Total Assets (Period-end) | **56,049,197,114.55** | 53,774,802,564.92 | **4.23%** | | Net Assets Attributable to Shareholders of Listed Company (Period-end) | **10,042,954,096.68** | 9,914,702,465.97 | **1.29%** | [V. Differences in Accounting Data Under Domestic and Overseas Accounting Standards](index=7&type=section&id=V.%20Differences%20in%20Accounting%20Data%20Under%20Domestic%20and%20Overseas%20Accounting%20Standards) The company has no differences in net profit and net assets in financial reports disclosed simultaneously under International Accounting Standards and Chinese Accounting Standards, or overseas accounting standards and Chinese Accounting Standards - The company has no differences in net profit and net assets under domestic and overseas accounting standards[24](index=24&type=chunk) [VI. Non-Recurring Gains and Losses and Amounts](index=7&type=section&id=VI.%20Non-Recurring%20Gains%20and%20Losses%20and%20Amounts) Non-recurring gains and losses for this reporting period totaled **RMB 117,040,012.93**, primarily comprising government subsidies, fair value change gains/losses, and non-current asset disposal gains/losses Non-Recurring Gains and Losses and Amounts | Item | Amount (RMB) | | :--- | :--- | | Disposal gains/losses on non-current assets | -4,622,148.23 | | Government subsidies recognized in current profit/loss | 113,787,603.51 | | Gains/losses from fair value changes and disposal of financial assets and liabilities | 87,069,672.88 | | Fund occupation fees received from non-financial enterprises recognized in current profit/loss | 89,264.88 | | Reversal of impairment provisions for receivables subject to separate impairment testing | 20,939.00 | | Debt restructuring gains/losses | 2,035,000.00 | | Other non-operating income and expenses apart from the above | -3,111,501.76 | | Less: Income tax impact | 14,779,548.45 | | Minority interest impact (after tax) | 63,449,268.90 | | Total | **117,040,012.93** | - The company does not classify non-recurring gains and losses as recurring gains and losses[26](index=26&type=chunk) [Management Discussion and Analysis](index=9&type=section&id=Item%20III%20Management%20Discussion%20and%20Analysis) This section provides a comprehensive analysis of the company's principal businesses, core competencies, financial performance, investment activities, and risk management strategies during the reporting period [I. Principal Businesses Engaged by the Company During the Reporting Period](index=9&type=section&id=I.%20Principal%20Businesses%20Engaged%20by%20the%20Company%20During%20the%20Reporting%20Period) The Group's main businesses span high-tech, biomedicine, and real estate, with each sector continuously evolving amidst policy support and market changes, actively adjusting strategies to address challenges - The high-tech industry is a key national priority, with new energy vehicle production and sales growing over **40%** year-on-year, and lithium-ion battery anode material output increasing by approximately **34.56%** year-on-year[29](index=29&type=chunk)[30](index=30&type=chunk) - The biomedical industry, affected by medical insurance cost control and expanded centralized procurement, saw a **1.2%** year-on-year decrease in revenue and a **2.8%** year-on-year decrease in total profit for enterprises above designated size in the first half[31](index=31&type=chunk) - The real estate industry faces weak demand, with national new commercial housing sales area decreasing by **3.5%** and sales value by **5.5%** year-on-year in the first half, though core city markets show positive signs[33](index=33&type=chunk) - The company's high-tech industry primarily involves new materials, new energy vehicles, and precision parts manufacturing, with its subsidiary BTR being a global leader in lithium-ion battery anode materials[34](index=34&type=chunk) - The company's biomedical industry mainly covers pharmaceutical production and operation, hospital diagnostic and treatment services, and organic agriculture, with its subsidiary Mayinglong being a "China Time-Honored Brand" enterprise with over four centuries of history[35](index=35&type=chunk) - The company has been involved in the real estate industry for over forty years and has also made strategic arrangements in other sectors such as investment and financing, and mineral resource extraction and processing[36](index=36&type=chunk)[37](index=37&type=chunk) [II. Analysis of Core Competencies](index=11&type=section&id=II.%20Analysis%20of%20Core%20Competencies) The Group possesses strong industrial investment control, cross-industry synergy, resource integration, and capital assurance capabilities, forming a diversified industrial layout centered on high-tech industries, with significant advantages in capital operation and management - The Group adheres to a combination of industrial and capital operations, possessing strong industrial investment control capabilities, cross-industry collaborative organizational capabilities, resource integration capabilities, and certain capital assurance capabilities[39](index=39&type=chunk) - The high-tech industry has initially formed synergistic advantages in lithium battery materials, new energy vehicle charging connectors, and precision manufacturing, with a globally leading market share in lithium battery anode materials[39](index=39&type=chunk) - A multi-level capital market layout of "five locations and six public companies" has been formed, including listed companies on the Shenzhen Stock Exchange, Beijing Stock Exchange, Shanghai Stock Exchange, Hong Kong Stock Exchange, and companies listed on the New Third Board[40](index=40&type=chunk) - In terms of operational management, a series of management tools and theoretical systems such as "addition and subtraction method," "three-force system," and "benchmark management" have been developed[40](index=40&type=chunk) [III. Analysis of Principal Business](index=11&type=section&id=III.%20Analysis%20of%20Principal%20Business) In the first half of 2025, the Group's total operating revenue increased by 8.06%, and net profit attributable to the parent company grew by 24.51%, with high-tech and biomedical sectors showing revenue and profit growth, while real estate experienced declines Key Financial Data for H1 2025 | Indicator | Amount (RMB 10,000) | Year-on-Year Change | | :--- | :--- | :--- | | Total Operating Revenue | **1,083,930.73** | **8.06%** | | Operating Cost | **783,084.36** | **6.80%** | | Selling Expenses | **53,753.25** | **-0.13%** | | Administrative Expenses | **68,437.33** | **7.50%** | | Financial Expenses | **33,034.26** | **123.87%** | | Net Profit Attributable to Owners of Parent Company | **24,378.68** | **24.51%** | | Net Profit Attributable to Owners of Parent Company (Excluding Non-Recurring Items) | **12,674.68** | **-35.26%** | - The high-tech industry achieved sales revenue of **RMB 862,299.56 million**, a year-on-year increase of **10.36%**, and total profit of **RMB 72,421.03 million**, a year-on-year increase of **13.56%**[42](index=42&type=chunk) - The biomedical industry achieved sales revenue of **RMB 199,112.26 million**, a year-on-year increase of **1.54%**, and total profit of **RMB 41,444.04 million**, a year-on-year increase of **8.09%**[44](index=44&type=chunk) - The real estate industry achieved sales revenue of **RMB 7,245.41 million**, a year-on-year decrease of **11.25%**, and total profit of **RMB -7,826.74 million**, a year-on-year decrease of **168.70%**[45](index=45&type=chunk) Operating Revenue Composition (by Industry) | Industry | Current Period Amount (RMB) | Proportion of Operating Revenue | | :--- | :--- | :--- | | High-tech Industry | **8,622,995,580.90** | **79.55%** | | Biomedical Industry | **1,991,122,570.28** | **18.37%** | | Real Estate Industry | **72,454,062.89** | **0.67%** | | Other Industries | **152,733,110.96** | **1.41%** | Operating Revenue Composition (by Region) | Region | Current Period Amount (RMB) | Proportion of Operating Revenue | | :--- | :--- | :--- | | Mainland China | **8,529,265,738.29** | **78.69%** | | Countries and Regions Outside Mainland China | **2,310,039,586.74** | **21.31%** | [IV. Analysis of Non-Principal Business](index=15&type=section&id=IV.%20Analysis%20of%20Non-Principal%20Business) Non-principal businesses significantly impacted the company's total profit, with investment income and fair value change gains/losses contributing positively, while asset impairment had a negative effect Impact of Non-Principal Business on Total Profit | Item | Amount (RMB) | Proportion of Total Profit | | :--- | :--- | :--- | | Investment Income | **134,217,164.23** | **13.00%** | | Fair Value Change Gains/Losses | **42,098,317.53** | **4.08%** | | Asset Impairment | **-159,501,398.15** | **-15.44%** | | Non-Operating Income | **3,547,081.78** | **0.34%** | | Non-Operating Expenses | **10,071,191.34** | **0.98%** | - Investment income primarily stemmed from the disposal of trading financial assets, long-term equity investment income accounted for using the equity method, and interest income from wealth management products[55](index=55&type=chunk) - Fair value change gains/losses primarily arose from changes in the fair value of trading financial assets and other non-current financial assets[57](index=57&type=chunk) [V. Analysis of Assets and Liabilities](index=16&type=section&id=V.%20Analysis%20of%20Assets%20and%20Liabilities) At the end of the reporting period, total assets increased by 4.23% year-on-year, and net assets attributable to listed company shareholders grew by 1.29%, with significant increases in trading financial assets and non-current liabilities due within one year, while some assets were restricted Significant Changes in Asset Composition | Item | Amount at Period-End (RMB) | Proportion of Total Assets | Amount at Prior Year-End (RMB) | Proportion of Total Assets | Change in Proportion | | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Bank Balances | **6,950,011,955.01** | **12.40%** | 7,465,256,292.49 | 13.88% | **-1.48%** | | Trading Financial Assets | **1,712,026,807.82** | **3.05%** | 692,341,532.99 | 1.29% | **1.76%** | | Accounts Receivable | **5,840,617,410.92** | **10.42%** | 4,998,823,860.78 | 9.30% | **1.12%** | | Inventories | **12,126,492,077.21** | **21.64%** | 11,239,670,423.90 | 20.90% | **0.74%** | | Construction in Progress | **3,074,793,800.54** | **5.49%** | 3,864,233,621.85 | 7.19% | **-1.70%** | | Short-term Borrowings | **2,092,097,541.65** | **3.73%** | 1,714,613,972.59 | 3.19% | **0.54%** | | Other Payables | **1,259,622,410.64** | **2.25%** | 951,859,106.93 | 1.77% | **0.48%** | | Non-current Liabilities Due Within One Year | **7,625,764,668.63** | **13.61%** | 4,450,803,536.46 | 8.28% | **5.33%** | | Long-term Borrowings | **10,301,941,074.59** | **18.38%** | 12,043,051,888.76 | 22.40% | **-4.02%** | Key Overseas Asset Information | Specific Asset | Asset Size (RMB) | Country | Profit/Loss (RMB) | Proportion of Overseas Assets to Company's Net Assets | | :--- | :--- | :--- | :--- | :--- | | International Precision and its subsidiaries | **2,212,205,926.90** | Hong Kong | **1,224,771.42** | **9.88%** | Assets with Restricted Ownership or Use Rights | Item | Book Value at Year-End (RMB) | Reason for Restriction | | :--- | :--- | :--- | | Cash and Bank Balances | **566,490,795.09** | Bank acceptance bills, letters of guarantee, guaranteed bank deposits, customer mortgage loans, demolition resettlement compensation deposits, judicial frozen funds, etc | | Notes Receivable | **13,633,476.54** | Pledged bank acceptance bills | | Inventories | **89,239,808.98** | Pledged for loans | | Construction in Progress | **3,223,367.15** | Sale-leaseback financing | | Fixed Assets | **1,300,970,331.22** | Pledged for loans, pledged for issuing bills, sale-leaseback financing | | Intangible Assets | **548,703,556.04** | Pledged for loans, pledged for issuing bank acceptance bills | | Total | **2,522,261,335.02** | | [VI. Analysis of Investment Status](index=17&type=section&id=VI.%20Analysis%20of%20Investment%20Status) During the reporting period, the company's total investment significantly increased by 167.67% year-on-year, primarily involving securities and derivative investments, with the latter mainly for hedging foreign currency exchange rate fluctuations Investment Amount During the Reporting Period | Indicator | Investment Amount (RMB) | Investment Amount in Prior Year (RMB) | Change Rate | | :--- | :--- | :--- | :--- | | Total Investment Amount | **45,635,678.01** | 17,049,236.68 | **167.67%** | - The company had no significant equity or non-equity investments during the reporting period[66](index=66&type=chunk) Securities Investment Status (Book Value at Period-End) | Security Name | Book Value at Period-End (RMB) | Source of Funds | | :--- | :--- | :--- | | Huaxia Select Money | **65,933,985.00** | Own Funds | | Xiaomi Group-W | **49,750,976.28** | Own Funds | | Kuaishou-W | **33,481,332.30** | Own Funds | | SF Holding | **29,256,000.00** | Own Funds | | Meituan-W | **26,281,487.05** | Own Funds | | Tencent Holdings | **16,054,879.75** | Own Funds | | Southern Tian Tian Li Money B | **14,025,111.40** | Own Funds | | Alibaba-W | **13,017,174.30** | Own Funds | | ZhongAn Online | **5,328,706.24** | Own Funds | | Siwei Lickong | **4,236,800.00** | Own Funds | | Other Securities Investments | **17,195,297.79** | - | | Total | **274,561,750.11** | - | - Derivative investments are primarily for hedging purposes, with an actual gain/loss of **RMB 5.82 million** during the reporting period, generally capable of managing foreign currency deposit exchange rate fluctuation risks[70](index=70&type=chunk) - The company had no use of raised funds during the reporting period[73](index=73&type=chunk) [VII. Significant Asset and Equity Sales](index=21&type=section&id=VII.%20Significant%20Asset%20and%20Equity%20Sales) During the reporting period, the company did not engage in any significant asset or equity sales - The company did not sell any significant assets during the reporting period[74](index=74&type=chunk) - The company did not sell any significant equity during the reporting period[75](index=75&type=chunk) [VIII. Analysis of Major Holding and Participating Companies](index=21&type=section&id=VIII.%20Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) The Group's major holding and participating companies, including BTR New Material Group and Mayinglong Pharmaceutical Group, significantly contributed to net profit, with changes in the company's consolidation scope due to new and liquidated subsidiaries during the reporting period Major Holding and Participating Companies | Company Name | Company Type | Principal Business | Net Profit (RMB 10,000) | | :--- | :--- | :--- | :--- | | BTR New Material Group Co., Ltd | Subsidiary | R&D, production, and sales of lithium-ion battery anode materials, cathode materials, and advanced new materials | **47,858.71** | | Mayinglong Pharmaceutical Group Co., Ltd | Subsidiary | Manufacturing and sales of traditional Chinese and Western medicines | **34,322.23** | | China Venture Capital Co., Ltd | Associate Company | Venture Capital | **23,633.14** | | China Baoan Group Holdings Co., Ltd | Subsidiary | Project Investment | **22,497.38** | | Shenzhen Yuntong Logistics Industrial Co., Ltd | Subsidiary | Project Investment | **5,702.59** | | Zhangjiagang Youcheng New Energy Technology Co., Ltd | Subsidiary | R&D, production, and sales of new energy electric vehicle charging connectors and power connectors | **3,526.92** | - During the reporting period, the company acquired new subsidiaries including Sichuan BTR New Energy Material Co., Ltd, Shenzhen Ruixing Chuangjie Intelligent Equipment Co., Ltd, and Indonesia New Energy Material Co., Ltd[77](index=77&type=chunk) - During the reporting period, the company liquidated Kaige Surface Treatment (Taicang) Co., Ltd[77](index=77&type=chunk) - The operating performance of Shenzhen Yuntong Logistics Industrial Co., Ltd and China Venture Capital Co., Ltd significantly increased, primarily due to secondary market securities investment income[77](index=77&type=chunk) [IX. Information on Structured Entities Controlled by the Company](index=22&type=section&id=IX.%20Information%20on%20Structured%20Entities%20Controlled%20by%20the%20Company) The company did not control any structured entities during the reporting period - The company did not control any structured entities during the reporting period[78](index=78&type=chunk) [X. Risks Faced by the Company and Countermeasures](index=22&type=section&id=X.%20Risks%20Faced%20by%20the%20Company%20and%20Countermeasures) The company faces multiple risks including geopolitical, technological substitution, supply chain transmission, safety and environmental, industry policy, new business expansion, quality and safety, real estate policy and market, industry cyclicality, inventory pressure, and financial risks, with countermeasures such as lean management, technological innovation, market expansion, ecosystem building, and safety and environmental standardization - The high-tech industry faces operational risks from geopolitical and trade protectionism, technological substitution, supply chain transmission from upstream and downstream enterprises, as well as safety production and environmental risks[78](index=78&type=chunk)[79](index=79&type=chunk) - The biomedical industry faces industry policy, new business expansion, and quality and safety risks[81](index=81&type=chunk) - The real estate industry faces policy and market, industry cyclicality, inventory pressure, and financial risks[82](index=82&type=chunk) - Countermeasures include implementing lean management, technological innovation, market expansion, building an industrial ecosystem, strengthening overseas risk prevention and control, and promoting standardized safety production and environmental protection systems[80](index=80&type=chunk)[81](index=81&type=chunk)[83](index=83&type=chunk) [XI. Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan](index=24&type=section&id=XI.%20Formulation%20and%20Implementation%20of%20Market%20Value%20Management%20System%20and%20Valuation%20Enhancement%20Plan) The company has formulated and approved a "Market Value Management System" but has not yet disclosed a valuation enhancement plan - The company approved the "Proposal on Formulating the Market Value Management System" on April 29, 2025[84](index=84&type=chunk) - The company has not disclosed a valuation enhancement plan[84](index=84&type=chunk) [XII. Implementation of "Dual Improvement in Quality and Returns" Action Plan](index=24&type=section&id=XII.%20Implementation%20of%20%22Dual%20Improvement%20in%20Quality%20and%20Returns%22%20Action%20Plan) The company has not disclosed an announcement regarding the "Dual Improvement in Quality and Returns" action plan - The company has not disclosed an announcement regarding the "Dual Improvement in Quality and Returns" action plan[85](index=85&type=chunk) [Corporate Governance, Environment, and Society](index=25&type=section&id=Item%20IV%20Corporate%20Governance%2C%20Environment%2C%20and%20Society) This section details changes in the company's governance structure, including personnel, profit distribution, and employee incentives, alongside its environmental information disclosure and social responsibility initiatives [I. Changes in Directors, Supervisors, and Senior Management](index=25&type=section&id=I.%20Changes%20in%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) During the reporting period, Director Xu Biao resigned due to work reasons, and Liu Zhihua was elected as a director and member of relevant committees Changes in Directors, Supervisors, and Senior Management | Name | Position Held | Type | Date | Reason | | :--- | :--- | :--- | :--- | :--- | | Xu Biao | Director, Member of Board Remuneration and Assessment Committee, Investment and Risk Management Committee | Resignation | June 08, 2025 | Work reasons | | Liu Zhihua | Director, Member of Board Remuneration and Assessment Committee, Investment and Risk Management Committee | Election | June 30, 2025 | Elected | [II. Profit Distribution and Capital Reserve Conversion to Share Capital in This Reporting Period](index=25&type=section&id=II.%20Profit%20Distribution%20and%20Capital%20Reserve%20Conversion%20to%20Share%20Capital%20in%20This%20Reporting%20Period) The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the semi-annual period - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the semi-annual period[88](index=88&type=chunk) [III. Implementation of Company Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=25&type=section&id=III.%20Implementation%20of%20Company%20Equity%20Incentive%20Plans%2C%20Employee%20Stock%20Ownership%20Plans%2C%20or%20Other%20Employee%20Incentive%20Measures) The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures implemented during the reporting period - The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures implemented during the reporting period[89](index=89&type=chunk) [IV. Environmental Information Disclosure](index=25&type=section&id=IV.%20Environmental%20Information%20Disclosure) The company and its 14 major subsidiaries are included in the list of enterprises required to disclose environmental information by law, and have publicly disclosed environmental information through provincial and municipal ecological environment department systems - The company and its **14** major subsidiaries are included in the list of enterprises required to disclose environmental information by law[90](index=90&type=chunk) - Environmental information disclosure reports can be accessed through the ecological environment department systems of various provinces and cities[90](index=90&type=chunk) [V. Social Responsibility](index=26&type=section&id=V.%20Social%20Responsibility) The Group actively fulfills its social responsibilities, carrying out various initiatives to consolidate poverty alleviation achievements and promote rural revitalization through its subsidiaries, including purchasing agricultural products, providing educational assistance, donations, and medicine donations - BTR New Material Group Co., Ltd, a subsidiary of the Group, supported poverty alleviation and rural revitalization through consumption, purchasing **RMB 60,000** worth of agricultural products[91](index=91&type=chunk) - BTR (Sichuan) New Material Technology Co., Ltd provided educational assistance to university students from impoverished families and offered targeted assistance to Baiguo Community, purchasing over **RMB 30,000** in agricultural products[91](index=91&type=chunk) - Mayinglong Pharmaceutical Group Co., Ltd donated medicines worth **RMB 2.2631 million** to various regions through the Hubei Provincial Red Cross Society and received a "Special Contribution Award"[92](index=92&type=chunk) [Significant Events](index=27&type=section&id=Item%20V%20Significant%20Events) This section outlines significant events during the reporting period, including commitments, fund occupation, guarantees, auditor appointments, audit reports, bankruptcy, litigation, penalties, integrity, related party transactions, and major contracts [I. Commitments Fulfilled and Overdue Unfulfilled by the Company's Actual Controller, Shareholders, Related Parties, Acquirers, and the Company During the Reporting Period](index=27&type=section&id=I.%20Commitments%20Fulfilled%20and%20Overdue%20Unfulfilled%20by%20the%20Company%27s%20Actual%20Controller%2C%20Shareholders%2C%20Related%20Parties%2C%20Acquirers%2C%20and%20the%20Company%20During%20the%20Reporting%20Period) The company had no overdue unfulfilled commitments from its actual controller, shareholders, related parties, acquirers, or the company itself at the end of the reporting period - The company had no overdue unfulfilled commitments during the reporting period[94](index=94&type=chunk) [II. Non-Operating Fund Occupation by Controlling Shareholders and Other Related Parties of the Listed Company](index=27&type=section&id=II.%20Non-Operating%20Fund%20Occupation%20by%20Controlling%20Shareholders%20and%20Other%20Related%20Parties%20of%20the%20Listed%20Company) The company had no non-operating fund occupation by controlling shareholders or other related parties of the listed company during the reporting period - The company had no non-operating fund occupation by controlling shareholders or other related parties of the listed company during the reporting period[95](index=95&type=chunk) [III. Illegal External Guarantees](index=27&type=section&id=III.%20Illegal%20External%20Guarantees) The company had no illegal external guarantees during the reporting period - The company had no illegal external guarantees during the reporting period[96](index=96&type=chunk) [IV. Appointment and Dismissal of Accounting Firms](index=27&type=section&id=IV.%20Appointment%20and%20Dismissal%20of%20Accounting%20Firms) The company's semi-annual financial report was not audited - The company's semi-annual financial report was not audited[97](index=97&type=chunk) [V. Board of Directors' and Supervisory Board's Explanation on "Non-Standard Audit Report" for This Reporting Period](index=27&type=section&id=V.%20Board%20of%20Directors%27%20and%20Supervisory%20Board%27s%20Explanation%20on%20%22Non-Standard%20Audit%20Report%22%20for%20This%20Reporting%20Period) The company had no "non-standard audit report" for this reporting period - The company had no "non-standard audit report" for this reporting period[98](index=98&type=chunk) [VI. Board of Directors' Explanation on "Non-Standard Audit Report" for the Prior Year](index=27&type=section&id=VI.%20Board%20of%20Directors%27%20Explanation%20on%20%22Non-Standard%20Audit%20Report%22%20for%20the%20Prior%20Year) The company had no "non-standard audit report" for the prior year - The company had no "non-standard audit report" for the prior year[98](index=98&type=chunk) [VII. Bankruptcy Reorganization Related Matters](index=27&type=section&id=VII.%20Bankruptcy%20Reorganization%20Related%20Matters) The company had no bankruptcy reorganization related matters during the reporting period - The company had no bankruptcy reorganization related matters during the reporting period[98](index=98&type=chunk) [VIII. Litigation Matters](index=27&type=section&id=VIII.%20Litigation%20Matters) The company had no significant litigation or arbitration matters during the reporting period - The company had no significant litigation or arbitration matters during the reporting period[99](index=99&type=chunk) [IX. Penalties and Rectification](index=28&type=section&id=IX.%20Penalties%20and%20Rectification) The company had no penalties or rectification situations during the reporting period - The company had no penalties or rectification situations during the reporting period[100](index=100&type=chunk) [X. Integrity Status of the Company, its Controlling Shareholders, and Actual Controllers](index=28&type=section&id=X.%20Integrity%20Status%20of%20the%20Company%2C%20its%20Controlling%20Shareholders%2C%20and%20Actual%20Controllers) The company, its controlling shareholders, and actual controllers maintain good integrity, with no applicable adverse situations - The company, its controlling shareholders, and actual controllers maintain good integrity, with no applicable adverse situations[101](index=101&type=chunk) [XI. Significant Related Party Transactions](index=28&type=section&id=XI.%20Significant%20Related%20Party%20Transactions) The company had no significant related party transactions during the reporting period, including those related to daily operations, asset/equity acquisitions/disposals, joint external investments, related party creditor/debtor relationships, or financial company dealings - The company had no related party transactions related to daily operations during the reporting period[101](index=101&type=chunk) - The company had no related party transactions involving asset or equity acquisitions/disposals during the reporting period[102](index=102&type=chunk) - The company had no related party transactions involving joint external investments during the reporting period[103](index=103&type=chunk) - The company had no related party creditor-debtor relationships during the reporting period[104](index=104&type=chunk) - There were no deposits, loans, credit lines, or other financial transactions between the company and related financial companies[105](index=105&type=chunk) - There were no deposits, loans, credit lines, or other financial transactions between the company's controlled financial company and related parties[106](index=106&type=chunk) - The company had no other significant related party transactions during the reporting period[107](index=107&type=chunk) [XII. Significant Contracts and Their Performance](index=29&type=section&id=XII.%20Significant%20Contracts%20and%20Their%20Performance) The company had no trust or contracting arrangements during the reporting period, with leasing activities primarily involving office spaces, land, and equipment; it also had multiple external guarantees, mainly for subsidiaries, and entrusted wealth management with an outstanding balance of **RMB 783.0423 million** at period-end - The company had no trust arrangements during the reporting period[108](index=108&type=chunk) - The company had no contracting arrangements during the reporting period[109](index=109&type=chunk) - The company's leased-in assets primarily include office spaces, land, and employee dormitories, while leased-out assets mainly include office spaces and equipment, with no leasing project gains or losses exceeding **10%** of the company's total profit for the reporting period[110](index=110&type=chunk) Company Guarantees for Subsidiaries | Name of Guaranteed Party | Guarantee Limit (RMB 10,000) | Guarantee Balance (RMB 10,000) | Guarantee Start Date | Guarantee End Date | Fulfilled | | :--- | :--- | :--- | :--- | :--- | :--- | | BTR New Material Group Co., Ltd | **40,000** | - | 2019/11/25 | 2026/5/24 | No | | BTR New Material Group Co., Ltd | **39,000** | **12,976.36** | 2021/1/29 | 2027/1/29 | No | Entrusted Wealth Management | Specific Type | Amount of Entrusted Wealth Management (RMB 10,000) | Unexpired Balance (RMB 10,000) | | :--- | :--- | :--- | | Bank Wealth Management Products | **88,330.00** | **64,290.00** | | Brokerage Wealth Management Products | **98,032.22** | **14,014.23** | | Total | **186,362.22** | **78,304.23** | - The company had no other significant contracts during the reporting period[115](index=115&type=chunk) [XIII. Explanation of Other Significant Matters](index=31&type=section&id=XIII.%20Explanation%20of%20Other%20Significant%20Matters) The company has timely disclosed all significant matters on designated media and websites in accordance with relevant laws and regulations - The company has timely disclosed all significant matters on China Securities Journal, Securities Times, and Juchao Information Network (www.cninfo.com.cn)[116](index=116&type=chunk) [XIV. Significant Matters of Company Subsidiaries](index=31&type=section&id=XIV.%20Significant%20Matters%20of%20Company%20Subsidiaries) The company had no significant matters concerning its subsidiaries during the reporting period - The company had no significant matters concerning its subsidiaries during the reporting period[117](index=117&type=chunk) [Share Changes and Shareholder Information](index=32&type=section&id=Item%20VI%20Share%20Changes%20and%20Shareholder%20Information) This section details changes in the company's share capital, securities issuance, shareholder structure, and shareholdings of directors, supervisors, and senior management, as well as any changes in controlling shareholder or actual controller [I. Share Change Information](index=32&type=section&id=I.%20Share%20Change%20Information) During the reporting period, 2,345,566 shares held by former directors and senior management were converted to unrestricted shares, and 4,448,916 non-tradable shares were transferred, resulting in a decrease in restricted shares and an increase in unrestricted shares - During the reporting period, a total of **2,345,566** executive-locked shares held by the company's former directors and senior management were converted into unrestricted shares[120](index=120&type=chunk) - The **4,448,916** non-tradable shares repaid by China Construction Bank Corporation Shenzhen Branch Labor Union, a non-tradable shareholder of the company, were registered and transferred to Shenzhen Fuan Holdings Co., Ltd and Shenzhen Baoan District Investment Management Group Co., Ltd, respectively[120](index=120&type=chunk) Share Change Information | Category | Quantity Before Change | Proportion Before Change | Change (Subtotal) | Quantity After Change | Proportion After Change | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | **27,783,641** | **1.08%** | **-2,345,566** | **25,438,075** | **0.99%** | | II. Unrestricted Shares | **2,551,430,324** | **98.92%** | **2,345,566** | **2,553,775,890** | **99.01%** | | III. Total Shares | **2,579,213,965** | **100.00%** | **0** | **2,579,213,965** | **100.00%** | Restricted Share Change Information | Shareholder Name | Restricted Shares at Period-Start | Restricted Shares Released This Period | Restricted Shares Increased This Period | Restricted Shares at Period-End | Reason for Restriction | | :--- | :--- | :--- | :--- | :--- | :--- | | Chen Zhengli | **771,997** | **771,997** | 0 | 0 | Company Director, Senior Management Locked Shares | | He Dehua | **1,105,905** | **1,105,905** | 0 | 0 | Company Senior Management Locked Shares | | He Xueqin | **467,664** | **467,664** | 0 | 0 | Company Senior Management Locked Shares | | Shenzhen Fuan Holdings Co., Ltd | 0 | 0 | **2,224,458** | **2,224,458** | Shares acquired from equity split reform advance repayment | | Shenzhen Baoan District Investment Management Group Co., Ltd | 0 | 0 | **2,224,458** | **2,224,458** | Shares acquired from equity split reform advance repayment | | China Construction Bank Corporation Shenzhen Branch Labor Union | **22,244,575** | 0 | **-4,448,916** | **17,795,659** | Repayment of shares advanced for equity split reform | | Total | **24,590,141** | **2,345,566** | **0** | **22,244,575** | - | [II. Securities Issuance and Listing](index=33&type=section&id=II.%20Securities%20Issuance%20and%20Listing) The company had no securities issuance or listing during the reporting period - The company had no securities issuance or listing during the reporting period[124](index=124&type=chunk) [III. Number of Shareholders and Shareholding Information](index=33&type=section&id=III.%20Number%20of%20Shareholders%20and%20Shareholding%20Information) As of the end of the reporting period, the company had 161,951 common shareholders, with Shenzhen Chengxing Investment Co., Ltd and its concerted parties holding a combined 18.39%, and Shaoguan Gaocreative Enterprise Management Co., Ltd holding 16.66% with some shares pledged - The total number of common shareholders at the end of the reporting period was **161,951**[125](index=125&type=chunk) Shareholding Information of Shareholders Holding 5% or More or Top 10 Shareholders | Shareholder Name | Shareholder Nature | Shareholding Proportion | Number of Shares Held at Period-End | Number of Unrestricted Shares Held | Pledged, Marked, or Frozen Shares (Quantity) | | :--- | :--- | :--- | :--- | :--- | :--- | | Shenzhen Chengxing Investment Co., Ltd | State-owned Legal Person | **17.55%** | **452,559,574** | **452,559,574** | Not Applicable | | Shaoguan Gaocreative Enterprise Management Co., Ltd | Domestic Non-State-owned Legal Person | **16.66%** | **429,672,357** | **429,672,357** | **210,000,000** (Pledged) | | Shenzhen Yijing Food & Beverage Co., Ltd | Domestic Non-State-owned Legal Person | **4.73%** | **122,022,614** | **122,022,614** | Not Applicable | | Shenzhen Fuan Holdings Co., Ltd | Domestic Non-State-owned Legal Person | **4.26%** | **109,971,644** | **107,747,186** | Not Applicable | | Li Songqiang | Domestic Natural Person | **3.33%** | **85,923,792** | **85,923,792** | Not Applicable | | HKSCC Nominees Limited | Overseas Legal Person | **1.33%** | **34,424,977** | **34,424,977** | Not Applicable | | Agricultural Bank of China Co., Ltd. - CSI 500 ETF | Other | **1.04%** | **26,778,950** | **26,778,950** | Not Applicable | | Shenzhen Kunpeng New Industry Investment Co., Ltd | State-owned Legal Person | **0.85%** | **21,842,433** | **21,842,433** | Not Applicable | | China Construction Bank Corporation Shenzhen Branch Labor Union | Domestic Non-State-owned Legal Person | **0.69%** | **17,795,659** | **0** | Not Applicable | | Huitianze Investment Co., Ltd | Domestic Non-State-owned Legal Person | **0.48%** | **12,428,030** | **12,428,030** | Not Applicable | - There is no related party or concerted action relationship between the company's top two shareholders; Shenzhen Chengxing Investment Co., Ltd and Shenzhen Kunpeng New Industry Investment Co., Ltd are concerted parties, jointly holding **474,402,007** shares, representing **18.39%** of the company's total shares[126](index=126&type=chunk) [IV. Changes in Shareholdings of Directors, Supervisors, and Senior Management](index=35&type=section&id=IV.%20Changes%20in%20Shareholdings%20of%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) The shareholdings of the company's directors, supervisors, and senior management remained unchanged during the reporting period - The shareholdings of the company's directors, supervisors, and senior management remained unchanged during the reporting period[128](index=128&type=chunk) [V. Changes in Controlling Shareholder or Actual Controller](index=35&type=section&id=V.%20Changes%20in%20Controlling%20Shareholder%20or%20Actual%20Controller) The company's controlling shareholder and actual controller remained unchanged during the reporting period - The company's controlling shareholder remained unchanged during the reporting period[129](index=129&type=chunk) - The company's actual controller remained unchanged during the reporting period[129](index=129&type=chunk) [VI. Preferred Share Information](index=35&type=section&id=VI.%20Preferred%20Share%20Information) The company had no preferred shares during the reporting period - The company had no preferred shares during the reporting period[130](index=130&type=chunk) [Bond Information](index=36&type=section&id=Item%20VII%20Bond%20Information) This section provides details on the company's bond issuances, including enterprise bonds, corporate bonds, non-financial enterprise debt financing instruments, and convertible corporate bonds, along with key financial indicators related to debt [I. Enterprise Bonds](index=36&type=section&id=I.%20Enterprise%20Bonds) The company had no enterprise bonds during the reporting period - The company had no enterprise bonds during the reporting period[132](index=132&type=chunk) [II. Corporate Bonds](index=36&type=section&id=II.%20Corporate%20Bonds) The company's "22 Baoan 01" corporate bond has a balance of **RMB 750 million** with an interest rate of 6.30%, maturing on August 19, 2025, and its credit enhancement mechanism, repayment plan, and security measures remained unchanged during the reporting period Corporate Bond Basic Information | Bond Name | Bond Abbreviation | Bond Code | Issue Date | Interest Commencement Date | Maturity Date | Bond Balance (RMB 10,000) | Interest Rate | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | China Baoan Group Co., Ltd 2022 Publicly Issued Corporate Bonds to Qualified Investors (Tranche 1) | 22 Baoan 01 | 148037 | August 19, 2022 | August 19, 2022 | August 19, 2025 | **75,000** | **6.30%** | - The credit enhancement mechanism, bond repayment plan, and other repayment guarantee measures for the "22 Baoan 01" corporate bond remained unchanged during the reporting period[136](index=136&type=chunk) [III. Non-Financial Enterprise Debt Financing Instruments](index=37&type=section&id=III.%20Non-Financial%20Enterprise%20Debt%20Financing%20Instruments) The company had no non-financial enterprise debt financing instruments during the reporting period - The company had no non-financial enterprise debt financing instruments during the reporting period[137](index=137&type=chunk) [IV. Convertible Corporate Bonds](index=37&type=section&id=IV.%20Convertible%20Corporate%20Bonds) The company had no convertible corporate bonds during the reporting period - The company had no convertible corporate bonds during the reporting period[138](index=138&type=chunk) [V. Consolidated Statement Scope Loss Exceeding 10% of Net Assets at Prior Year-End During the Reporting Period](index=37&type=section&id=V.%20Consolidated%20Statement%20Scope%20Loss%20Exceeding%2010%25%20of%20Net%20Assets%20at%20Prior%20Year-End%20During%20the%20Reporting%20Period) The company's consolidated statement scope loss did not exceed 10% of net assets at the prior year-end during the reporting period - The company's consolidated statement scope loss did not exceed **10%** of net assets at the prior year-end during the reporting period[139](index=139&type=chunk) [VI. Key Accounting Data and Financial Indicators for the Company's Last Two Years as of the End of the Reporting Period](index=37&type=section&id=VI.%20Key%20Accounting%20Data%20and%20Financial%20Indicators%20for%20the%20Company%27s%20Last%20Two%20Years%20as%20of%20the%20End%20of%20the%20Reporting%20Period) As of the end of the reporting period, the company's current ratio and quick ratio decreased, asset-liability ratio slightly increased, net profit after non-recurring items decreased by 35.26% year-on-year, but interest coverage ratio improved Key Accounting Data and Financial Indicators for the Last Two Years | Item | Current Period-End | Prior Year-End | Change from Prior Year-End | | :--- | :--- | :--- | :--- | | Current Ratio | **1.64** | 1.81 | **-9.39%** | | Asset-Liability Ratio | **60.06%** | 59.62% | **0.44%** | | Quick Ratio | **0.87** | 0.95 | **-8.42%** | | Net Profit After Non-Recurring Items (RMB 10,000) | **12,674.68** | 19,576.48 | **-35.26%** | | EBITDA to Total Debt Ratio | **9.78%** | 8.70% | **1.08%** | | Interest Coverage Ratio | **3.88** | 3.12 | **24.36%** | | Cash Interest Coverage Ratio | **1.53** | 1.87 | **-18.18%** | | EBITDA Interest Coverage Ratio | **6.15** | 5.05 | **21.78%** | | Loan Repayment Rate | **100.00%** | 100.00% | **0.00%** | | Interest Payment Rate | **100.00%** | 100.00% | **0.00%** | [Financial Report](index=38&type=section&id=Item%20VIII%20Financial%20Report) This section presents the company's financial statements and detailed notes, providing a comprehensive overview of its financial position, operating results, and cash flows for the reporting period [I. Audit Report](index=38&type=section&id=I.%20Audit%20Report) The company's semi-annual financial report was not audited - The company's semi-annual financial report was not audited[142](index=142&type=chunk) [II. Financial Statements](index=38&type=section&id=II.%20Financial%20Statements) This section includes the company's unaudited consolidated and parent company financial statements, comprising the balance sheet, income statement, cash flow statement, and statement of changes in shareholders' equity, comprehensively reflecting the financial position and operating results at the end of the reporting period - The consolidated balance sheet shows total assets of **RMB 56,049,197,114.55** and total liabilities of **RMB 33,664,594,000.16** at period-end[146](index=146&type=chunk)[149](index=149&type=chunk) - The consolidated income statement shows total operating revenue of **RMB 10,839,307,288.90**, net profit of **RMB 842,582,575.04**, and net profit attributable to parent company shareholders of **RMB 243,786,781.48** for the current period[151](index=151&type=chunk) - The consolidated cash flow statement shows net cash flow from operating activities of **RMB 18,425,921.17** and net cash flow from investing activities of **RMB -2,219,943,022.09**[153](index=153&type=chunk) - The parent company balance sheet shows total assets of **RMB 13,302,902,457.18** and total liabilities of **RMB 9,936,670,577.31** at period-end[160](index=160&type=chunk)[162](index=162&type=chunk) - The parent company income statement shows operating revenue of **RMB 400,826.14** and net profit of **RMB 106,145,852.89** for the current period[164](index=164&type=chunk) [III. Notes to Financial Statements](index=51&type=section&id=III.%20Notes%20to%20Financial%20Statements) The notes to the financial statements detail the company's basic information, basis of preparation, significant accounting policies and estimates, taxes, consolidated financial statement item notes, R&D expenses, changes in consolidation scope, interests in other entities, government grants, financial instrument risks, fair value disclosures, related parties and transactions, share-based payments, commitments and contingencies, post-balance sheet events, other significant matters, and supplementary information [I. Company Basic Information](index=51&type=section&id=I.%20Company%20Basic%20Information) The company, established in 1991 and renamed China Baoan Group Co., Ltd in 1993, has a registered capital of **RMB 2,579,213,965.00**, primarily operating in high-tech, biomedicine, and real estate, with no controlling shareholder or actual controller as of the reporting period, and its largest shareholder and concerted parties holding a combined 18.39% of shares, consolidating 218 subsidiaries - The company's registered capital is **RMB 2,579,213,965.00**, and its share capital is **RMB 2,579,213,965.00**[171](index=171&type=chunk) - The company primarily operates in new energy, new materials, and other high-tech industries; biomedical industry; real estate industry; and other sectors[172](index=172&type=chunk) - As of June 30, 2025, the company has no controlling shareholder or actual controller, with the largest shareholder being Shenzhen Chengxing Investment Co., Ltd and its concerted party Shenzhen Kunpeng New Industry Investment Co., Ltd (total shareholding ratio of **18.39%**)[172](index=172&type=chunk) - As of June 30, 2025, the Group's consolidated scope includes a total of **218** subsidiaries[173](index=173&type=chunk) [II. Basis of Preparation of Financial Statements](index=51&type=section&id=II.%20Basis%20of%20Preparation%20of%20Financial%20Statements) The Group's financial statements are prepared on a going concern basis, in accordance with the "Enterprise Accounting Standards" issued by the Ministry of Finance and the "Information Disclosure Rules No. 15" by the China Securities Regulatory Commission, primarily using historical cost measurement - The Group's financial statements are prepared on a going concern basis, according to actual transactions and events, and the disclosure requirements of the "Enterprise Accounting Standards" issued by the Ministry of Finance and the "Information Disclosure Rules for Companies Issuing Securities Publicly No. 15 - General Provisions for Financial Reports (Revised 2023)" issued by the China Securities Regulatory Commission[174](index=174&type=chunk)[175](index=175&type=chunk) - Except for certain financial instruments, these financial statements are all measured on a historical cost basis[175](index=175&type=chunk) [III. Statement of Compliance with Enterprise Accounting Standards](index=52&type=section&id=III.%20Statement%20of%20Compliance%20with%20Enterprise%20Accounting%20Standards) The company declares that its financial statements comply with enterprise accounting standards, accurately and completely reflecting its financial position, operating results, and cash flows - The financial statements prepared by the company comply with the requirements of enterprise accounting standards, truly and completely reflecting the financial position of the company and the Group as of June 30, 2025, and the operating results and cash flows for January-June 2025, among other relevant information[176](index=176&type=chunk) [IV. Significant Accounting Policies and Accounting Estimates](index=52&type=section&id=IV.%20Significant%20Accounting%20Policies%20and%20Accounting%20Estimates) This section details the Group's specific accounting policies and estimates across various areas, including accounting period, operating cycle, functional currency, materiality, business combinations, consolidated financial statements, joint arrangements, cash and cash equivalents, foreign currency transactions, financial instruments, financial asset impairment, receivables financing, inventories, contract assets, assets held for sale, long-term equity investments, investment properties, fixed assets, construction in progress, borrowing costs, biological assets, right-of-use assets, intangible assets, long-term deferred expenses, impairment of long-term assets, contract liabilities, employee benefits, lease liabilities, quality assurance deposits, maintenance funds, provisions, share-based payments, revenue, contract costs, government grants, deferred tax assets/liabilities, leases, debt restructuring, and changes in accounting policies/estimates and significant accounting judgments and estimates - The Group's accounting year adopts the calendar year, from January 1 to December 31 annually[178](index=178&type=chunk) - The Group classifies financial assets based on the business model for managing financial assets and the contractual cash flow characteristics of the financial assets into: financial assets measured at amortized cost; financial assets measured at fair value through other comprehensive income; and financial assets measured at fair value through profit or loss[198](index=198&type=chunk) - The Group recognizes impairment provisions and credit impairment losses for notes receivable, accounts receivable, other receivables, receivables financing, debt investments, other debt investments, long-term receivables, etc., based on expected credit losses[207](index=207&type=chunk) - The Group recognizes revenue when the customer obtains control of the related goods, provided that the contract with the customer simultaneously meets specific conditions[257](index=257&type=chunk) - The company implemented the provisions of "Interpretation No. 18 of Enterprise Accounting Standards" on December 31, 2024, changing its accounting policies accordingly, resulting in an increase in operating costs of **RMB 1,757,736.31** and a decrease in selling expenses of **RMB 1,757,736.31**[276](index=276&type=chunk)[277](index=277&type=chunk) [V. Taxes](index=77&type=section&id=V.%20Taxes) The Group's main taxes include VAT, urban maintenance and construction tax, education surcharge, local education surcharge, property tax, land value-added tax, and corporate income tax, with the company and its subsidiaries enjoying various tax incentives, especially for high-tech enterprises and agricultural product-related businesses Major Tax Categories and Rates | Tax Item | Tax Base | Tax Rate - Levy Rate | | :--- | :--- | :--- | | Value-Added Tax (VAT) | Operating Revenue | **13%**, **9%**, **6%**, **5%**, **3%** | | Urban Maintenance and Construction Tax | Actual Turnover Tax Paid | **7%**, **5%**, **1%** | | Education Surcharge | Actual Turnover Tax Paid | **3%** | | Local Education Surcharge | Actual Turnover Tax Paid | **2%**, **1.5%** | | Property Tax | Self-used Property / Leased Property | **1.2%** / **12%** | | Land Value-Added Tax | Value-Added Amount | **30%-60%** progressive tax rate | | Corporate Income Tax | Taxable Income | **25%** (some subsidiaries **15%**) | - The company's subsidiaries enjoy preferential policies such as export tax refunds, immediate VAT refunds for software products, VAT exemption for feed products, and VAT exemption for agricultural production materials[288](index=288&type=chunk)[289](index=289&type=chunk) - Several high-tech and biomedical subsidiaries enjoy a **15%** preferential corporate income tax rate[290](index=290&type=chunk) - Subsidiaries meeting the criteria for small and micro-profit enterprises have their income reduced by **25%** for taxable income calculation and pay corporate income tax at a **20%** rate[291](index=291&type=chunk) [VI. Notes to Consolidated Financial Statement Items](index=78&type=section&id=VI.%20Notes%20to%20Consolidated%20Financial%20Statement%20Items) This section details the period-end balances, period-start balances, and current period changes for each item in the consolidated financial statements, including cash and bank balances, financial assets, various receivables, inventories, long-term equity investments, fixed assets, intangible assets, borrowings, payables, deferred income tax, and government grants, with explanations for significant changes and restricted situations Cash and Bank Balances | Item | Balance at Period-End (RMB) | Balance at Period-Start (RMB) | | :--- | :--- | :--- | | Cash on Hand | **4,831,539.91** | 7,287,94

Group 1 - The core point of the article highlights the recent performance and financial metrics of China Baoan Group Co., Ltd, including stock price, trading volume, and financial results for Q1 2025 [1][3] - As of August 19, 2025, the stock price of China Baoan is 9.31 yuan, with a decrease of 0.53% and a trading volume of 267,000 hands, amounting to 249 million yuan in transaction value [1] - The company experienced a net outflow of main funds amounting to 16.04 million yuan, representing 6.43% of the transaction value, with significant outflows from large orders [1] Group 2 - For Q1 2025, China Baoan reported total operating revenue of 4.864 billion yuan, a year-on-year decrease of 2.73%, while net profit attributable to shareholders was 169 million yuan, showing a year-on-year increase of 138.20% [1] - The company's non-recurring net profit was 77.02 million yuan, reflecting a year-on-year decrease of 26.52% [1] - Financial ratios indicate a current ratio of 1.745, a quick ratio of 1.052, and a debt-to-asset ratio of 59.85% [1] Group 3 - China Baoan Group was established in 1990 and is located in Shenzhen, primarily engaged in other financial services [2][3] - The company has made investments in 56 enterprises and has participated in four bidding projects, along with holding 47 trademark registrations and nine administrative licenses [2]

（编辑 楚丽君） 证券日报网讯 8月19日晚间，中国宝安发布公告称，2024年年度权益分派方案为：以公司现有总股本 2，579，213，965股为基数，向全体股东每10股派0.30元人民币现金（含税）。股权登记日为2025年8 月26日，除权除息日为2025年8月27日。 ...

中国宝安集团股份有限公司 2024 年年度权益分派实施公告 证券代码：000009 证券简称：中国宝安 公告编号：2025-028 本公司及董事局全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误导性 陈述或者重大遗漏。 中国宝安集团股份有限公司（以下简称"本公司"），2024 年年度权益分派 方案已获 2025 年 6 月 30 日召开的 2024 年度股东大会审议通过，现将权益分派事 宜公告如下： 一、股东大会审议通过权益分派方案等情况 1、2025 年 6 月 30 日，本公司 2024 年度股东大会审议通过了《2024 年度权 益分派预案》：以本公司现有总股本 2,579,213,965 股为基数，向全体股东每 10 股 派 0.30 元（含税）、每 10 股送 0 股、不以公积金转增股本。本次预案经股东大会 审议通过之日至利润分配预案实施日，如公司总股本发生变动，则按分配比例固 定的方式实施。 2、自分配方案披露至实施期间公司股本总额未发生变化。 本公司 2024 年年度权益分派方案为：以公司现有总股本 2,579,213,965 股为基 数，向全体股东每 10 股派 0.30 元人民币现 ...

中国宝安集团股份有限公司 "22 宝安 01"本息兑付暨摘牌公告 | 证券代码：000009 | 证券简称：中国宝安 | | | 公告编号：2025-027 | | --- | --- | --- | --- | --- | | 债券代码：148037 | 债券简称：22 | 宝安 | 01 | | 本公司及董事局全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 特别提示： 中国宝安集团股份有限公司 2022 年面向合格投资者公开发行公司债券（第 一期）（简称"22 宝安 01"，证券代码：148037）将于 2025 年 8 月 19 日兑付 自 2024 年 8 月 19 日至 2025 年 8 月 18 日期间的利息及本期债券的本金并摘牌。 凡在 2025 年 8 月 18 日（含）前买入并持有本期债券的投资者享有本次派发的 本金及利息。 债权登记日及最后交易日：2025 年 8 月 18 日 本息兑付日及债券摘牌日：2025 年 8 月 19 日 中国宝安集团股份有限公司（以下简称"公司"或"中国宝安"）于 2022 年 8 月 19 日发行的中国宝安集团股份有限公司 ...

Group 1 - The core point of the article highlights the recent performance and financial metrics of China Baoan Group, including a stock price decline and key financial ratios [1][3] - As of August 14, 2025, China Baoan's stock closed at 8.94 yuan, down 1.97%, with a trading volume of 273,700 hands and a transaction amount of 247 million yuan [1] - The company's latest quarterly report shows total revenue of 4.864 billion yuan, a year-on-year decrease of 2.73%, while net profit attributable to shareholders reached 169 million yuan, a significant increase of 138.20% [1] Group 2 - The company has a current liquidity ratio of 1.745 and a quick ratio of 1.052, indicating its short-term financial health [1] - The asset-liability ratio stands at 59.85%, reflecting the proportion of the company's assets that are financed by liabilities [1] - China Baoan has made investments in 56 external enterprises and has participated in four bidding projects, showcasing its active engagement in business development [2]

金融界消息 截至2025年8月13日收盘，中国宝安（000009）报收于9.12元，下跌0.87%，换手率0.88%， 成交量22.67万手，成交金额2.07亿元。 资金流向方面，今日主力资金净流出3567.93万元，占比成交额17.2%。其中，超大单净流出5067.31万 元、占成交额24.42%，大单净流入1499.37万元、占成交额7.23%，中单净流出流入675.70万元、占成交 额3.26%，小单净流入2892.23万元、占成交额13.94%。 中国宝安最新一期业绩显示，截至2025一季报，公司营业总收入48.64亿元、同比减少2.73%，归属净利 润1.69亿元，同比增长138.20%，扣非净利润7701.57万元，同比减少26.52%，流动比率1.745、速动比率 1.052、资产负债率59.85%。 通过天眼查大数据分析，中国宝安集团股份有限公司共对外投资了56家企业，参与招投标项目4次，知 识产权方面有商标信息47条，此外企业还拥有行政许可9个。 来源：金融界 天眼查商业履历信息显示，中国宝安集团股份有限公司，成立于1990年，位于深圳市，是一家以从事其 他金融业为主的企业。企业注册资本25 ...

中国宝安8月11日大宗交易平台出现一笔成交，成交量39.25万股，成交金额360.32万元，大宗交易成交 价为9.18元。该笔交易的买方营业部为机构专用，卖方营业部为中信证券股份有限公司上海分公司。 8月11日中国宝安大宗交易一览 | 成交量（万 | 成交金额（万 | 成交价格 | 相对当日收盘折溢价 | 买方营 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | | 股） | 元） | （元） | （%） | 业部 | | | 39.25 | 360.32 | 9.18 | 0.00 | 机构专 | 中信证券股份有限公司上 | | | | | | 用 | 海分公司 | （文章来源：证券时报网） 证券时报·数据宝统计显示，中国宝安今日收盘价为9.18元，上涨1.21%，日换手率为0.77%，成交额为 1.82亿元，全天主力资金净流入1102.82万元，近5日该股累计下跌0.86%，近5日资金合计净流出1875.15 万元。 两融数据显示，该股最新融资余额为26.18亿元，近5日增加4687.49万元，增幅为1.82%。（数据宝） ...

| 交易日期 | 证券代码 | 证券简称 | 成交价格 | 成交量 | 成交金额 | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | (元) | (万股/万份) | (万元) | | | | 2025-08-11 | 000009 | 中国宝安 | 9.18 | 39.25 | 360.32 | | 中信证券股份有限 | | | | | | | | | 公司上海分公司 | 8月11日，中国宝安大宗交易成交39.25万股，成交额360.32万元，占当日总成交额的1.95%，成交价9.18元，较市场收盘价 9.18元持平。 ...