Company Performance - Guofeng New Materials (SZ 000859) reported a revenue of approximately 1.025 billion yuan for the first half of 2025, representing a year-on-year decrease of 2.59% [1] - The net profit attributable to shareholders was a loss of approximately 40.07 million yuan, with basic earnings per share showing a loss of 0.04 yuan [1] - In the same period of 2024, the company had a revenue of approximately 1.052 billion yuan and a net profit loss of about 41.78 million yuan, with basic earnings per share reflecting a loss of 0.05 yuan [1] Market Overview - The pet industry is experiencing significant growth, with a market size of 300 billion yuan, leading to a surge in stock prices for related listed companies [1]

格隆汇8月26日丨国风新材(000859.SZ)公布2025年半年度报告，上半年公司实现营业收入10.25亿元，同 比下降2.59%；归属于上市公司股东的净利润-4006.55万元；归属于上市公司股东的扣除非经常性损益 的净利润-4584.19万元；基本每股收益-0.04元。 ...

证券代码：000859 证券简称：国风新材 公告编号：2025-043 安徽国风新材料股份有限公司 2025 年半年度募集资金存放与使用情况专项报告 本公司及董事会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。 二、募集资金存放和管理情况 （一）募集资金管理制度情况 根据中国证监会《上市公司监管指引第 2 号——上市公司募集资金 管理和使用的监管要求》、深圳证券交易所颁布的《深圳证券交易所上 市公司自律监管指引第 1 号-主板上市公司规范运作》及相关公告格式 规定，将本公司 2025 年半年度募集资金存放与使用情况报告如下： 一、募集资金基本情况 （一）实际募集资金金额、资金到账时间 经中国证券监督管理委员会《关于核准安徽国风塑业股份有限公司 非公开发行股票的批复》（证监许可[2020]2211 号）核准，公司向特 定对象非公开发行 156,526,541 股 A 股股票，发行价为 4.52 元/股，募 集资金总额为 707,499,965.32 元，扣除各项发行费用 12,236,722.51 元（不含税）后，实际募集资金净额为人民币 695,263,242.81 元。 ...

安徽国风新材料股份有限公司 2025 年度半年度非经营性资金占用及其他关联资金往来情况汇总表 单位：万元 | | 资金占用 | 占用方与上 市公司的关 | 上市公司核 算的会计科 | 2025 年期 初往来资 | 年度 2025 1-6 月份往来累 | 年度 2025 1-6 月份往 | 年度 2025 1-6 月份偿 | 2025 年 6 月 底往来资金 | 往来形 往来性质 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 非经营性资金占用 | 方名称 | | | | 计发生金额 | 来资金的利 | 还累计发生 | | 成原因 | | | | 联关系 | 目 | 金余额 | （不含利息） | 息（如有） | 金额 | 余额 | | | 控股股东、实际 控制人及其附属企 | | | | | | | | | | | 业 | | | | | | | | | | | 小计 | - | - | - | | | | | | - | | 前控股股东、实 | | | | | | | | | | | 际控制人及其附属 | | | | | | ...

安徽国风新材料股份有限公司 2025 年半年度报告 安徽国风新材料股份有限公司 Anhui Guofeng New Materials Co., Ltd. 2025 年半年度财务报告 2025 年 8 月 27 日 1 安徽国风新材料股份有限公司 2025 年半年度报告 一、审计报告 半年度报告是否经过审计 □是 否 公司半年度财务报告未经审计。 二、财务报表 财务附注中报表的单位为：元 1、合并资产负债表 编制单位：安徽国风新材料股份有限公司 2025 年 06 月 30 日 单位：元 | 项目 | 期末余额 | 期初余额 | | --- | --- | --- | | 流动资产： | | | | 货币资金 | 280,117,134.10 | 378,512,670.13 | | 结算备付金 | | | | 拆出资金 | | | | 交易性金融资产 | | | | 衍生金融资产 | | | | 应收票据 | 80,472,903.26 | 87,327,167.71 | | 应收账款 | 354,768,641.78 | 412,291,955.48 | | 应收款项融资 | 49,492,321.49 ...

一、监事会会议召开情况 安徽国风新材料股份有限公司（下称"公司"）第八届监事会第八次 会议于 2025 年 8 月 25 日以通讯方式召开，会议通知于 2025 年 8 月 15 日发出。会议应参与投票监事 3 名，实际参与投票监事 3 名。会议由监事 会主席李阳女士主持。会议的召开符合《公司法》和《公司章程》等相关 规定，会议合法有效。 二、监事会会议审议情况 1、审议通过《国风新材 2025 年半年度报告及其摘要》； 证券代码：000859 证券简称：国风新材 公告编号：2025-041 安徽国风新材料股份有限公司 第八届监事会第八次会议决议公告 本公司及监事会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。 《国风新材 2025 年半年度报告摘要》同日刊登在《证券时报》和巨 潮资讯网（编号：2025-042）,《国风新材 2025 年半年度报告全文》同日 刊登在巨潮资讯网（http://www.cninfo.com.cn）。 三、备查文件 1、经与会监事签字并加盖监事会印章的监事会决议； 2、深交所要求的其他文件。 经审核，监事会认为董事会编制和审议的安徽国风新材料股 ...

一、董事会会议召开情况 安徽国风新材料股份有限公司（以下简称"公司"）第八届董事会第 八次会议于 2025 年 8 月 25 日以通讯方式召开，会议通知于 2025 年 8 月 15 日发出。会议应参与投票董事 8 人，实际参与投票董事 8 人。会议由 董事长朱亦斌先生主持。本次董事会会议的召开及程序符合《公司法》和 《公司章程》的规定，会议合法有效。 证券代码：000859 证券简称：国风新材 公告编号：2025-040 安徽国风新材料股份有限公司 第八届董事会第八次会议决议公告 本公司及董事会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。 1 年度募集资金存放与使用情况专项报告》（编号：2025-043）。 表决结果：同意 8 票，反对 0 票，弃权 0 票。 三、备查文件 二、董事会会议审议情况 1、审议通过《国风新材 2025 年半年度报告及其摘要》； 《国风新材 2025 年半年度报告摘要》同日刊登在《证券时报》和巨 潮资讯网（编号：2025-042）,《国风新材 2025 年半年度报告全文》同日 刊登在巨潮资讯网（http://www.cninfo.com.c ...

[Important Notes, Table of Contents, and Definitions](index=2&type=section&id=%E7%AC%AC%E4%B8%80%E8%8A%82%20%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA%E3%80%81%E7%9B%AE%E5%BD%95%E5%92%8C%E9%87%8A%E4%B9%89) This section provides essential disclaimers, the report's structure, and definitions of key terms for clarity [Important Notes](index=2&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) The Board of Directors, Supervisory Board, and senior management guarantee the report's accuracy, completeness, and truthfulness, with no plans for cash dividends or share transfers - The Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the report content[4](index=4&type=chunk) - The company's responsible person Zhu Yibin, head of accounting Wang Chong, and head of accounting department Liao Qingmin declare the financial report is true, accurate, and complete[4](index=4&type=chunk) - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital[5](index=5&type=chunk) [Table of Contents](index=3&type=section&id=%E7%9B%AE%E5%BD%95) This section lists the nine main chapters of the report, including company overview, management discussion, and financial statements, providing a structural overview - The report comprises nine main chapters covering company operations, finance, governance, and significant matters[7](index=7&type=chunk) [List of Documents for Reference](index=4&type=section&id=%E5%A4%87%E6%9F%A5%E6%96%87%E4%BB%B6%E7%9B%AE%E5%BD%95) The list includes signed and sealed financial statements and original public disclosure documents, all available at the company's Securities Development Department - Documents for reference include signed and sealed financial statements and original publicly disclosed company documents[9](index=9&type=chunk)[10](index=10&type=chunk) - All documents for reference are fully available at the company's Securities Development Department[11](index=11&type=chunk) [Definitions](index=5&type=section&id=%E9%87%8A%E4%B9%89) This section defines common terms used in the report, such as company names, regulatory bodies, and core product types, ensuring clear understanding - "Company/This Company/Guofeng New Materials" refers to Anhui Guofeng New Materials Co., Ltd[12](index=12&type=chunk) - "Reporting Period" refers to January 1, 2025, to June 30, 2025[12](index=12&type=chunk) - Key products include BOPP film, BOPET film, capacitor film, pre-coated film, polyimide film/PI film, and optical-grade polyester base film[12](index=12&type=chunk) [Company Profile and Key Financial Indicators](index=6&type=section&id=%E7%AC%AC%E4%BA%8C%E8%8A%82%20%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B%E5%92%8C%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) This section provides an overview of the company's basic information, contact details, and a summary of its key financial performance and position for the reporting period [Company Profile](index=6&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B) Anhui Guofeng New Materials Co., Ltd. (Stock Abbreviation: Guofeng New Materials, Stock Code: 000859) is listed on the Shenzhen Stock Exchange, with Zhu Yibin as its legal representative Company Basic Information | Indicator | Content | | :--- | :--- | | Stock Abbreviation | Guofeng New Materials | | Stock Code | 000859 | | Stock Exchange | Shenzhen Stock Exchange | | Chinese Name | Anhui Guofeng New Materials Co., Ltd. | | Legal Representative | Zhu Yibin | [Contact Persons and Information](index=6&type=section&id=%E4%BA%8C%E3%80%81%E8%81%94%E7%B3%BB%E4%BA%BA%E5%92%8C%E8%81%94%E7%B3%BB%E6%96%B9%E5%BC%8F) The company's Board Secretary is Yang Yinglin and Securities Affairs Representative is Hu Jian, both located at Anhui Province, Hefei City, High-tech Industrial Development Zone, Mingchuan Road 1000 Company Contact Information | Position | Name | Contact Address | Phone | Fax | Email | | :--- | :--- | :--- | :--- | :--- | :--- | | Board Secretary | Yang Yinglin | Anhui Province, Hefei City, High-tech Industrial Development Zone, Mingchuan Road 1000 | 0551-68560860 | 0551-68560802 | ir@guofeng.com | | Securities Affairs Representative | Hu Jian | Anhui Province, Hefei City, High-tech Industrial Development Zone, Mingchuan Road 1000 | 0551-68560860 | 0551-68560802 | ir@guofeng.com | [Other Information](index=6&type=section&id=%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E6%83%85%E5%86%B5) The company's registered address, office address, postal code, website, email, information disclosure, and document storage locations remained unchanged during the reporting period - Company contact information, information disclosure, and document storage locations remained unchanged during the reporting period[16](index=16&type=chunk)[17](index=17&type=chunk) [Key Accounting Data and Financial Indicators](index=7&type=section&id=%E5%9B%9B%E3%80%81%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) In the first half of 2025, the company's operating revenue decreased by **2.59%**, net loss attributable to shareholders narrowed by **4.10%**, and operating cash flow turned positive Key Accounting Data and Financial Indicators for H1 2025 | Indicator | Current Reporting Period (yuan) | Prior Year Same Period (yuan) | Change from Prior Year Same Period | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,025,064,434.76 | 1,052,359,554.96 | -2.59% | | Net Profit Attributable to Listed Company Shareholders | -40,065,514.50 | -41,777,032.96 | 4.10% | | Net Profit Attributable to Listed Company Shareholders (Excluding Non-Recurring Gains/Losses) | -45,841,911.83 | -45,626,079.16 | -0.47% | | Net Cash Flow from Operating Activities | 998,345.54 | -46,683,308.88 | Not Applicable | | Basic Earnings Per Share (yuan/share) | -0.04 | -0.05 | 20.00% | | Diluted Earnings Per Share (yuan/share) | -0.04 | -0.05 | 20.00% | | Weighted Average Return on Net Assets | -1.45% | -1.47% | 1.71% | | Indicator | End of Current Reporting Period (yuan) | End of Prior Year (yuan) | Change from End of Prior Year | | :--- | :--- | :--- | :--- | | Total Assets | 4,339,070,836.11 | 4,337,700,017.96 | 0.03% | | Net Assets Attributable to Listed Company Shareholders | 2,751,328,990.35 | 2,791,394,504.85 | -1.44% | [Differences in Accounting Data under Domestic and International Accounting Standards](index=7&type=section&id=%E4%BA%94%E3%80%81%E5%A2%83%E5%86%85%E5%A4%96%E4%BC%9A%E8%AE%A1%E5%87%86%E5%88%99%E4%B8%8B%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%B7%AE%E5%BC%82) The company reported no differences in net profit or net assets between domestic and international accounting standards during the reporting period - The company reported no differences in accounting data under domestic and international accounting standards during the reporting period[20](index=20&type=chunk)[21](index=21&type=chunk) [Non-Recurring Gains and Losses and Amounts](index=7&type=section&id=%E5%85%AD%E3%80%81%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%8F%8A%E9%87%91%E9%A2%9D) Non-recurring gains and losses totaled **5,776,397.33 yuan** in the reporting period, primarily from asset disposal, government grants, and fair value changes Non-Recurring Gains and Losses for H1 2025 | Item | Amount (yuan) | | :--- | :--- | | Gains or losses from disposal of non-current assets | 1,183,490.97 | | Government grants recognized in current profit or loss (excluding those closely related to the company's ordinary course of business, continuously enjoyed, and in line with national policies) | 2,923,051.96 | | Fair value changes and disposal gains/losses from financial assets and liabilities held by non-financial enterprises | 1,332,754.56 | | Other non-operating income and expenses apart from the above | 1,356,428.78 | | Less: Income tax impact | 1,019,328.94 | | Total | 5,776,397.33 | - The company has no other profit and loss items meeting the definition of non-recurring gains and losses, nor has it reclassified non-recurring items as recurring[24](index=24&type=chunk) [Management Discussion and Analysis](index=9&type=section&id=%E7%AC%AC%E4%B8%89%E8%8A%82%20%E7%AE%A1%E7%90%86%E5%B1%82%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) This section provides an in-depth analysis of the company's business operations, financial performance, core competencies, and risk factors during the reporting period [Principal Businesses Engaged by the Company During the Reporting Period](index=9&type=section&id=%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E4%BB%8E%E4%BA%8B%E7%9A%84%E4%B8%BB%E8%A6%81%E4%B8%9A%E5%8A%A1) The company focuses on five major industries: polymer functional film materials, optoelectronic new materials, polyimide materials, green environmental wood-plastic new materials, and new energy vehicle lightweight materials [Company's Main Business](index=9&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%E5%85%AC%E5%8F%B8%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1) The company's main business focuses on five key new material industries, strategically shifting from traditional packaging films to high-end, electronic, and display materials - The company's main business focuses on five major industries: high-molecular functional film materials, optoelectronic new materials, polyimide materials, green environmental wood-plastic new materials, and new energy vehicle lightweight materials[26](index=26&type=chunk) - The company's strategic direction is to transform into the new materials industry, with products evolving from traditional packaging films to high-end packaging films, electronic information films, and display materials[26](index=26&type=chunk) [Main Products and Applications](index=9&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%E4%B8%BB%E8%A6%81%E4%BA%A7%E5%93%81%E5%8F%8A%E7%94%A8%E9%80%94) The company's main products include BOPP, BOPET, polyimide films, new energy vehicle lightweight materials, and wood-plastic materials, serving diverse sectors like packaging, electronics, and automotive - BOPP film series are widely used in mid-to-high-end printing and packaging, electronic appliance release protection, and building energy efficiency[27](index=27&type=chunk) - BOPET film products are extensively applied in printing, lamination, coating, metallization, thermal transfer ribbons, hot stamping transfer, laser, electrical insulation, pharmaceutical packaging, and construction[27](index=27&type=chunk) - Polyimide film materials are used in flexible displays, integrated circuits, chip flexible packaging, 5G communication, new energy vehicles, electrical electronics, and aerospace, with various products under development[28](index=28&type=chunk)[29](index=29&type=chunk) - New energy vehicle lightweight materials are primarily used for exterior parts, enabling plastic-for-steel substitution to meet demands for lightweighting, low development costs, high melt flow index, high modulus, and low linear expansion coefficient materials[30](index=30&type=chunk) - New green environmental wood-plastic materials are mainly applied in outdoor facilities, architectural decoration, indoor furnishings, municipal gardens, and tourism facilities[31](index=31&type=chunk)[32](index=32&type=chunk) [Business Model](index=10&type=section&id=%EF%BC%88%E4%B8%89%EF%BC%89%E7%BB%8F%E8%90%A5%E6%A8%A1%E5%BC%8F) The company operates on an order-based production model, sourcing raw materials globally through its supply chain center and primarily selling products directly to established domestic and international clients - All company products are self-produced, following an order-based production model[32](index=32&type=chunk) - Raw materials are primarily procured from well-known domestic and international enterprises through multiple channels, based on production plans, market prices, and inventory levels[34](index=34&type=chunk) - The company's product sales model is primarily direct sales, having established long-term stable cooperative relationships with renowned domestic and international clients[35](index=35&type=chunk) [Industry Development and Company's Market Position](index=11&type=section&id=%EF%BC%88%E5%9B%9B%EF%BC%89%E8%A1%8C%E4%B8%9A%E5%8F%91%E5%B1%95%E5%8F%8A%E5%85%AC%E5%8F%B8%E6%89%80%E5%A4%84%E7%9A%84%E5%B8%82%E5%9C%BA%E5%9C%B0%E4%BD%8D) China's general packaging film industry faces overcapacity, but the company is leveraging its two decades of experience to strategically shift towards high-end functional films like electronic-grade polyimide and optical-grade polyester base films, accelerating domestic substitution - China's general packaging film industry faces oversupply and intense market competition, with future trends moving towards high-end, specialized, functional, and green environmental development[36](index=36&type=chunk) - High-end functional film materials such as electronic-grade polyimide film and optical-grade polyester base film have vast market potential, with accelerated domestic substitution[37](index=37&type=chunk) - With over two decades of experience in film material production, the company possesses advantages in formulation, process, technology development, and equipment operation, accelerating strategic transformation and focusing on polyimide film materials and optical-grade polyester base film projects[38](index=38&type=chunk) [Performance Driving Factors](index=11&type=section&id=%EF%BC%88%E4%BA%94%EF%BC%89%E4%B8%9A%E7%BB%A9%E9%A9%B1%E5%8A%A8%E5%9B%A0%E7%B4%A0) In H1 2025, the company maintained stable operating performance by expanding international markets, accelerating technological innovation, deepening state-owned enterprise reform, and enhancing capital operation efficiency - The company actively participated in international exhibitions, adding **18 new customers** in "Belt and Road" countries and regions during the first half of the year[40](index=40&type=chunk) - Technological innovation progressed, with successful trial production of TPI composite film, successful pilot production of 38/50μm corona-resistant PI film, and GL12.5F polyimide copper clad laminate recognized as an "Anhui Province New Product"[40](index=40&type=chunk) - Project construction advanced steadily, with the annual production of **38,000 tons** of high-end functional film project and the chemical method electronic-grade polyimide film production line successfully commissioned[40](index=40&type=chunk) - Deepened state-owned enterprise reform, optimizing internal management systems and establishing BOPP Center, BOPET Center, Human Resources Center, and Financial Management Center[41](index=41&type=chunk) - Enhanced capital operation efficiency of the listed company, successfully completing due diligence, audit, and valuation for the Jinzhang Technology acquisition, advancing the merger to the stock exchange review stage[41](index=41&type=chunk) [Core Competitiveness Analysis](index=12&type=section&id=%E4%BA%8C%E3%80%81%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) The company's core competitiveness stems from its two decades of expertise in high-end film materials, robust R&D capabilities, strong market reputation, and effective corporate culture and governance [Technological R&D Advantages](index=12&type=section&id=1%E3%80%81%E6%8A%80%E6%9C%AF%E7%A0%94%E5%8F%91%E4%BC%98%E5%8A%BF) As a national high-tech enterprise, the company leverages its state-level technology center and deep academic collaborations to drive innovation, securing numerous provincial new product certifications and patents - The company is a national high-tech enterprise with over two decades of experience in high-end film material R&D and manufacturing, recognized as an innovative enterprise and a key original technology source in Anhui Province[42](index=42&type=chunk) - Leveraging its national-level enterprise technology center, the company accelerates the construction of the Anhui Provincial Advanced Polyimide Material Engineering Research Center, attracting postdoctoral research teams and PI chemical synthesis professionals[42](index=42&type=chunk) - Established deep industry-academia-research collaboration mechanisms with the University of Science and Technology of China, Harbin Institute of Technology, and Changchun Institute of Applied Chemistry, Chinese Academy of Sciences[42](index=42&type=chunk) - During the reporting period, **3 products** received provincial new product certificates, and **18 patents** were granted (2 invention patents, 10 utility model patents, 6 design patents); as of the end of the reporting period, a total of **460 patents** have been granted (162 invention patents)[42](index=42&type=chunk) [Market and Brand Advantages](index=12&type=section&id=2%E3%80%81%E5%B8%82%E5%9C%BA%E4%B8%8E%E5%93%81%E7%89%8C%E4%BC%98%E5%8A%BF) The company's "Guofeng" brand is well-regarded, making it a key supplier to leading domestic and international firms, with its polyimide films entering mainstream smartphone supply chains and expanding into "Belt and Road" markets - The company is a primary supplier to several renowned domestic and international packaging material and electronic information substrate manufacturers[43](index=43&type=chunk) - Polyimide films have completed customer certification and achieved mass production and sales, with some products entering the supply chains of mainstream brand smartphones and electronic devices[43](index=43&type=chunk) - Actively expanded into "Belt and Road" countries and regions, adding **18 new customers** during the reporting period[43](index=43&type=chunk) - The company's industrial development aligns closely with Hefei City's "Chip-Screen-Automotive-Integration" strategy, leveraging geographical advantages to accelerate industrial transformation and upgrading[43](index=43&type=chunk) [Corporate Culture Advantages](index=12&type=section&id=3%E3%80%81%E4%BC%81%E4%B8%9A%E6%96%87%E5%8C%96%E4%BC%98%E5%8A%BF) The company leverages its state-owned enterprise party leadership to integrate party building with operations, fostering a culture of continuous improvement, employee innovation, and well-being - The company leverages the core leadership role of the state-owned enterprise Party Committee, strengthening the "Five Integrations" Party building brand to embed Party leadership throughout production and operations[44](index=44&type=chunk) - Continuously promotes reform in the industrial worker team, enhancing operational efficiency through management optimization, empowering upgrades with lean management, and deepening the "Reform-Breakthrough-Emphasis" company management brand[44](index=44&type=chunk) - Subsidiary Guofeng Xianji Company's Equipment Department was awarded the "Anhui Province Worker Pioneer" honorary title[45](index=45&type=chunk) - Organized various employee activities, including skill competitions, cultural and sports events, Spring Festival couplet distribution, Dragon Boat Festival zongzi making, corporate culture quizzes, International Women's Day reading activities, brisk walking, and summer childcare for employees' children, enriching employees' spiritual and cultural lives[45](index=45&type=chunk) [Main Business Analysis](index=13&type=section&id=%E4%B8%89%E3%80%81%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%88%86%E6%9E%90) In H1 2025, the company's operating revenue and cost slightly decreased, with a marginal increase in gross profit margin, while financial expenses significantly dropped due to increased exchange gains [Overview](index=13&type=section&id=%E6%A6%82%E8%BF%B0) For an overview of the company's main business activities during the reporting period, please refer to the "Principal Businesses Engaged by the Company During the Reporting Period" section - For an overview of the main business, please refer to the "Principal Businesses Engaged by the Company During the Reporting Period" section[46](index=46&type=chunk) [Year-on-Year Changes in Key Financial Data](index=13&type=section&id=%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE%E5%90%8C%E6%AF%94%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) Operating revenue and cost decreased, sales expenses dropped by **9.16%**, management expenses increased by **17.14%**, and financial expenses significantly decreased by **167.41%** due to exchange gains Year-on-Year Changes in Key Financial Data for H1 2025 | Indicator | Current Reporting Period (yuan) | Prior Year Same Period (yuan) | Year-on-Year Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 1,025,064,434.76 | 1,052,359,554.96 | -2.59% | | | Operating Cost | 979,972,048.11 | 1,009,978,626.49 | -2.97% | | | Selling Expenses | 16,616,015.51 | 18,291,264.49 | -9.16% | | | Administrative Expenses | 44,915,030.01 | 38,343,938.45 | 17.14% | | | Financial Expenses | -1,278,939.19 | -478,271.31 | -167.41% | Primarily due to increased exchange gains | | Income Tax Expense | 1,685,005.65 | -1,224,609.72 | Not Applicable | | | R&D Expenses | 42,192,157.63 | 38,044,741.96 | 10.90% | | | Net Cash Flow from Operating Activities | 998,345.54 | -46,683,308.88 | Not Applicable | | | Net Cash Flow from Investing Activities | -219,816,824.04 | -301,310,744.79 | 27.05% | | | Net Cash Flow from Financing Activities | 149,890,867.07 | 56,753,049.72 | 164.11% | Primarily due to increased borrowings in the current period | | Net Increase in Cash and Cash Equivalents | -68,049,397.97 | -291,112,833.09 | 76.62% | | - The company's profit composition or sources of profit did not undergo significant changes during the reporting period[47](index=47&type=chunk) [Composition of Operating Revenue](index=13&type=section&id=%E8%90%A5%E4%B8%9A%E6%94%B6%E5%85%A5%E6%9E%84%E6%88%90) In H1 2025, total operating revenue was **1,025,064,434.76 yuan**, a **2.59%** decrease year-on-year, with film materials contributing **62.79%** and domestic sales accounting for **85.59%** Composition of Operating Revenue for H1 2025 | Category | Amount (yuan) | Proportion of Operating Revenue | | :--- | :--- | :--- | | **Total Operating Revenue** | **1,025,064,434.76** | **100%** | | **By Industry** | | | | Manufacturing | 1,025,064,434.76 | 100.00% | | **By Product** | | | | Film Materials | 643,673,047.65 | 62.79% | | New Energy Vehicle Supporting Materials | 166,854,845.71 | 16.28% | | New Wood-Plastic Materials | 55,124,920.55 | 5.38% | | Other | 159,411,620.85 | 15.55% | | **By Region** | | | | Domestic | 877,396,973.08 | 85.59% | | International | 147,667,461.68 | 14.41% | [Industries, Products, or Regions Accounting for Over 10% of the Company's Operating Revenue or Operating Profit](index=14&type=section&id=%E5%8D%A0%E5%85%AC%E5%8F%B8%E8%90%A5%E4%B8%9A%E6%94%B6%E5%85%A5%E6%88%96%E8%90%A5%E4%B8%9A%E5%88%A9%E6%B6%A6%2010%25%E4%BB%A5%E4%B8%8A%E7%9A%84%E8%A1%8C%E4%B8%9A%E3%80%81%E4%BA%A7%E5%93%81%E6%88%96%E5%9C%B0%E5%8C%BA%E6%83%85%E5%86%B5) Manufacturing is the sole industry revenue source with a **4.40%** gross margin. Film materials, new energy vehicle materials, and new wood-plastic materials are key products, with domestic and international markets showing varying gross margins Gross Profit Margin of Main Businesses for H1 2025 | Category | Operating Revenue (yuan) | Operating Cost (yuan) | Gross Profit Margin | Year-on-Year Change in Operating Revenue | Year-on-Year Change in Operating Cost | Year-on-Year Change in Gross Profit Margin | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **By Industry** | | | | | | | | Manufacturing | 1,025,064,434.76 | 979,972,048.11 | 4.40% | -2.59% | -2.97% | 0.37% | | **By Product** | | | | | | | | Film Materials | 643,673,047.65 | 617,434,466.36 | 4.08% | -0.93% | -2.78% | 1.83% | | New Energy Vehicle Supporting Materials | 166,854,845.71 | 163,755,208.06 | 1.86% | -4.62% | -0.99% | -3.59% | | New Wood-Plastic Materials | 55,124,920.55 | 42,636,006.54 | 22.66% | -6.98% | -10.78% | 3.30% | | Other | 159,411,620.85 | 156,146,367.15 | 2.05% | -5.37% | -3.44% | -1.96% | | **By Region** | | | | | | | | Domestic | 877,396,973.08 | 857,157,092.36 | 2.31% | -2.79% | -3.22% | 0.44% | | International | 147,667,461.68 | 122,814,955.75 | 16.83% | -1.39% | -1.18% | -0.18% | [Non-Principal Business Analysis](index=14&type=section&id=%E5%9B%9B%E3%80%81%E9%9D%9E%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%88%86%E6%9E%90) The company's non-principal business situation is applicable for the reporting period, but no specific analysis details were provided - The company's non-principal business situation is applicable for the reporting period, but no specific analysis was provided[51](index=51&type=chunk) [Analysis of Assets and Liabilities](index=14&type=section&id=%E4%BA%94%E3%80%81%E8%B5%84%E4%BA%A7%E5%8F%8A%E8%B4%9F%E5%80%BA%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) Total assets slightly increased by **0.03%**, with decreases in cash and accounts receivable, and increases in inventory and construction in progress, while both short-term and long-term borrowings rose [Significant Changes in Asset Composition](index=14&type=section&id=1%E3%80%81%E8%B5%84%E4%BA%A7%E6%9E%84%E6%88%90%E9%87%8D%E5%A4%A7%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) As of the end of the reporting period, total assets were **4,339,070,836.11 yuan**, a slight increase of **0.03%** from the previous year-end, with construction in progress increasing by **2.88%** Changes in Asset and Liability Composition as of H1 2025 | Item | Amount at End of Current Reporting Period (yuan) | Proportion of Total Assets | Amount at End of Prior Year (yuan) | Proportion of Total Assets | Change in Proportion | | :--- | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 280,117,134.10 | 6.46% | 378,512,670.13 | 8.73% | -2.27% | | Accounts Receivable | 354,768,641.78 | 8.18% | 412,291,955.48 | 9.50% | -1.32% | | Inventories | 269,928,302.86 | 6.22% | 228,098,928.86 | 5.26% | 0.96% | | Fixed Assets | 1,629,131,415.29 | 37.55% | 1,633,005,446.31 | 37.65% | -0.10% | | Construction in Progress | 789,631,587.84 | 18.20% | 664,642,883.35 | 15.32% | 2.88% | | Short-term Borrowings | 168,403,529.63 | 3.88% | 145,020,412.93 | 3.34% | 0.54% | | Contract Liabilities | 28,739,650.37 | 0.66% | 22,544,321.60 | 0.52% | 0.14% | | Long-term Borrowings | 462,101,738.85 | 10.59% | 295,746,376.63 | 6.82% | 3.77% | [Major Overseas Assets](index=14&type=section&id=2%E3%80%81%E4%B8%BB%E8%A6%81%E5%A2%83%E5%A4%96%E8%B5%84%E4%BA%A7%E6%83%85%E5%86%B5) The company reported no major overseas assets during the reporting period - The company reported no major overseas assets during the reporting period[52](index=52&type=chunk) [Assets and Liabilities Measured at Fair Value](index=14&type=section&id=3%E3%80%81%E4%BB%A5%E5%85%AC%E5%85%81%E4%BB%B7%E5%80%BC%E8%AE%A1%E9%87%8F%E7%9A%84%E8%B5%84%E4%BA%A7%E5%92%8C%E8%B4%9F%E5%80%BA) As of the end of the reporting period, financial assets measured at fair value primarily consisted of other non-current financial assets totaling **94,217,878.69 yuan**, with no financial liabilities measured at fair value Assets and Liabilities Measured at Fair Value as of H1 2025 | Item | Beginning Balance (yuan) | Fair Value Change Gains/Losses for Current Period (yuan) | Ending Balance (yuan) | | :--- | :--- | :--- | :--- | | **Financial Assets** | | | | | Other Non-current Financial Assets | 92,885,124.13 | 1,332,754.56 | 94,217,878.69 | | **Total Above** | **92,885,124.13** | **1,332,754.56** | **94,217,878.69** | | **Financial Liabilities** | **0.00** | | **0.00** | - The measurement attributes of the company's main assets did not undergo significant changes during the reporting period[54](index=54&type=chunk) [Asset Restrictions as of the End of the Reporting Period](index=15&type=section&id=4%E3%80%81%E6%88%AA%E8%87%B3%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E7%9A%84%E8%B5%84%E4%BA%A7%E6%9D%83%E5%88%A9%E5%8F%97%E9%99%90%E6%83%85%E5%86%B5) As of the end of the reporting period, restricted assets totaled **77,287,305.03 yuan**, primarily comprising monetary funds, notes receivable, fixed assets, intangible assets, and accounts receivable financing Asset Restrictions as of H1 2025 | Item | Book Value at Period-End (yuan) | Reason for Restriction | | :--- | :--- | :--- | | Monetary Funds | 26,482,432.92 | Bill deposit | | Notes Receivable | 11,222,759.98 | Pledged for issuing bank acceptance bills | | Fixed Assets | 15,887,308.76 | Mortgage financing | | Intangible Assets | 4,762,679.01 | Mortgage financing | | Accounts Receivable Financing | 18,932,124.36 | Pledged for issuing bank acceptance bills | | Total | 77,287,305.03 | | [Investment Analysis](index=15&type=section&id=%E5%85%AD%E3%80%81%E6%8A%95%E8%B5%84%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) Total investments for the reporting period were **874,354,651.19 yuan**, a slight increase of **1.82%**, with several major non-equity investment projects under construction and no securities or derivatives investments [Overall Situation](index=15&type=section&id=1%E3%80%81%E6%80%BB%E4%BD%93%E6%83%85%E5%86%B5) During the reporting period, the company's total investment amounted to **874,354,651.19 yuan**, representing a **1.82%** increase compared to the same period last year Investment Amount for H1 2025 | Indicator | Amount (yuan) | | :--- | :--- | | Investment Amount for Reporting Period | 874,354,651.19 | | Investment Amount for Prior Year Same Period | 858,746,839.08 | | Change Percentage | 1.82% | [Significant Equity Investments Acquired During the Reporting Period](index=15&type=section&id=2%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E8%8E%B7%E5%8F%96%E7%9A%84%E9%87%8D%E5%A4%A7%E7%9A%84%E8%82%A1%E6%9D%83%E6%8A%95%E8%B5%84%E6%83%85%E5%86%B5) The company did not acquire any significant equity investments during the reporting period - The company did not acquire any significant equity investments during the reporting period[56](index=56&type=chunk) [Significant Non-Equity Investments in Progress During the Reporting Period](index=15&type=section&id=3%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E6%AD%A3%E5%9C%A8%E8%BF%9B%E8%A1%8C%E7%9A%84%E9%87%8D%E5%A4%A7%E7%9A%84%E9%9D%9E%E8%82%A1%E6%9D%83%E6%8A%95%E8%B5%84%E6%83%85%E5%86%B5) The company is undertaking several major non-equity investment projects, including high-end functional polypropylene film, optical-grade polyester base film, and polyimide film materials, all currently under construction and funded by internal capital Progress of Major Non-Equity Investment Projects for H1 2025 | Project Name | Investment Method | Industry | Total Investment Amount (yuan) | Amount Invested in Current Reporting Period (yuan) | Cumulative Investment Amount (yuan) | Project Progress | Source of Funds | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Annual Production of 38,000 Tons of High-End Functional Polypropylene Film Project | Self-built | Manufacturing | 132,640,740.00 | 17,352,283.49 | 40,380,000.00 | 100.00% | Own Funds | | Annual Production of 1 Billion Square Meters of Optical-Grade Polyester Base Film Project | Self-built | Manufacturing | 659,169,670.00 | 16,290,415.83 | 246,806,000.00 | 78.00% | Own Funds | | Electronic-Grade Polyimide Film Material Project | Self-built | Manufacturing | 324,651,980.00 | 63,207,545.68 | 117,696,400.00 | 72.62% | Own Funds | | New Flexible Electronic Polyimide Film Material Project | Self-built | Manufacturing | 88,730,900.74 | 15,524,896.35 | 31,885,600.00 | 55.58% | Own Funds | | **Total** | | | **1,123,751,330.74** | **112,375,133.07** | **436,768,000.00** | | | [Financial Asset Investments](index=16&type=section&id=4%E3%80%81%E9%87%91%E8%9E%8D%E8%B5%84%E4%BA%A7%E6%8A%95%E8%B5%84) The company did not engage in any securities or derivatives investments during the reporting period - The company had no securities investments during the reporting period[59](index=59&type=chunk) - The company had no derivatives investments during the reporting period[60](index=60&type=chunk) [Use of Raised Funds](index=17&type=section&id=5%E3%80%81%E5%8B%9F%E9%9B%86%E8%B5%84%E9%87%91%E4%BD%BF%E7%94%A8%E6%83%85%E5%86%B5) As of June 30, 2025, the company's net proceeds from its 2020 non-public offering were **695,263,242.81 yuan**, with cumulative usage exceeding this amount due to increased interest income, and the electronic-grade polyimide film project's implementation details were modified Overall Use of Raised Funds for H1 2025 | Fundraising Year | Fundraising Method | Total Raised Funds (10,000 yuan) | Net Raised Funds (10,000 yuan) | Total Raised Funds Used in Current Period (10,000 yuan) | Total Raised Funds Used Cumulatively (10,000 yuan) | Proportion of Raised Funds Used | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | 2020 | Issuance of shares to specific targets | 70,750 | 69,526.32 | 1,792.75 | 72,106.48 | 103.71% | - As of June 30, 2025, the company's cumulative use of raised funds was **721,064,821.77 yuan**, exceeding the actual net proceeds of **695,263,242.81 yuan**, with the difference primarily attributed to **42,470,942.61 yuan** in deposit interest[62](index=62&type=chunk) Raised Funds Committed Projects for H1 2025 | Committed Investment Project | Committed Investment Amount (10,000 yuan) | Raised Funds Invested (10,000 yuan) | Amount Invested in Current Reporting Period (10,000 yuan) | Cumulative Investment Amount as of Period-End (10,000 yuan) | Investment Progress as of Period-End | | :--- | :--- | :--- | :--- | :--- | :--- | | Supplement Working Capital | 13,880 | 13,880 | 0 | 13,880 | 100.09% | | Electronic-Grade Polyimide Film Material Project (After Change) | 55,646.32 | 55,646.32 | 1,792.74 | 58,213.73 | 104.61% | - The implementation entity, content, and location of the electronic-grade polyimide film material project were changed from Anhui Guofeng New Materials Co., Ltd. to its wholly-owned subsidiary Hefei Guofeng Advanced Base Materials Technology Co., Ltd., but the project's feasibility remains largely unchanged after the modifications[68](index=68&type=chunk) [Significant Asset and Equity Disposals](index=19&type=section&id=%E4%B8%83%E3%80%81%E9%87%8D%E5%A4%A7%E8%B5%84%E4%BA%A7%E5%92%8C%E8%82%A1%E6%9D%83%E5%87%BA%E5%94%AE) The company did not dispose of any significant assets or equity during the reporting period - The company did not dispose of any significant assets during the reporting period[69](index=69&type=chunk) - The company did not dispose of any significant equity during the reporting period[70](index=70&type=chunk) [Analysis of Major Holding and Participating Companies](index=19&type=section&id=%E5%85%AB%E3%80%81%E4%B8%BB%E8%A6%81%E6%8E%A7%E8%82%A1%E5%8F%82%E8%82%A1%E5%85%AC%E5%8F%B8%E5%88%86%E6%9E%90) Key subsidiaries include Anhui Guofeng Wood-Plastic Technology, Wuhu Guofeng Plastic Technology, and Hefei Guofeng Advanced Base Materials Technology, with Wuhu Guofeng experiencing declining performance due to customer price reductions and Hefei Guofeng in a capacity ramp-up phase Financial Performance of Major Holding Subsidiaries for H1 2025 | Company Name | Company Type | Main Business | Registered Capital (10,000 yuan) | Total Assets (10,000 yuan) | Net Assets (10,000 yuan) | Operating Revenue (10,000 yuan) | Operating Profit (10,000 yuan) | Net Profit (10,000 yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Anhui Guofeng Wood-Plastic Technology Co., Ltd. | Subsidiary | Wood-plastic new materials, new wood-plastic products | 7,000 | 16,516.51 | 8,715.48 | 5,608.14 | 202.66 | 237.80 | | Wuhu Guofeng Plastic Technology Co., Ltd. | Subsidiary | Automotive parts, home appliance injection molded parts, logistics parts, etc. | 11,500 | 55,167.24 | 16,243.80 | 18,430.27 | -842.14 | -814.91 | | Hefei Guofeng Advanced Base Materials Technology Co., Ltd. | Subsidiary | Manufacturing, R&D, and sales of electronic special materials | 60,000 | 115,925.31 | 91,566.81 | 6,389.74 | 1,227.32 | 1,197.75 | - Wuhu Guofeng Plastic Technology Co., Ltd. experienced a decline in operating performance due to price reductions for some vehicle model products by its major customers[74](index=74&type=chunk) - Hefei Guofeng Advanced Base Materials Technology Co., Ltd.'s projects are gradually completing construction, with capacity still in the ramp-up phase[75](index=75&type=chunk) [Structured Entities Controlled by the Company](index=20&type=section&id=%E4%B9%9D%E3%80%81%E5%85%AC%E5%8F%B8%E6%8E%A7%E5%88%B6%E7%9A%84%E7%BB%93%E6%9E%84%E5%8C%96%E4%B8%BB%E4%BD%93%E6%83%85%E5%86%B5) The company did not control any structured entities during the reporting period - The company did not control any structured entities during the reporting period[76](index=76&type=chunk) [Risks Faced by the Company and Countermeasures](index=20&type=section&id=%E5%8D%81%E3%80%81%E5%85%AC%E5%8F%B8%E9%9D%A2%E4%B8%B4%E7%9A%84%E9%A3%8E%E9%99%A9%E5%92%8C%E5%BA%94%E5%AF%B9%E6%8E%AA%E6%96%BD) The company faces risks from industry cyclicality, market competition, raw material price fluctuations, and new project underperformance, addressed by strategic transformation, market expansion, and robust project management - The company's film business faces risks from industry cyclical fluctuations, which will be addressed by anchoring strategic emerging materials transformation, accelerating product structure adjustment, and new project construction[76](index=76&type=chunk) - The company faces risks from intensified market competition, which will be addressed by deepening product structure adjustment, accelerating industrial transformation and upgrading, strengthening technological innovation, implementing differentiated operating strategies, and enhancing cost reduction and efficiency improvement[76](index=76&type=chunk) - The company faces risks from raw material price fluctuations, which will be addressed by improving procurement mechanisms, strengthening market forecasting, optimizing inventory management, and flexibly adjusting product prices[77](index=77&type=chunk) - The company's new projects carry the risk of not meeting expected investment returns, which will be addressed by comprehensively allocating resources, accelerating engineering construction, and ensuring smooth production and market integration[78](index=78&type=chunk) [Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan](index=21&type=section&id=%E5%8D%81%E4%B8%80%E3%80%81%E5%B8%82%E5%80%BC%E7%AE%A1%E7%90%86%E5%88%B6%E5%BA%A6%E5%92%8C%E4%BC%B0%E5%80%BC%E6%8F%90%E5%8D%87%E8%AE%A1%E5%88%92%E7%9A%84%E5%88%B6%E5%AE%9A%E8%90%BD%E5%AE%9E%E6%83%85%E5%86%B5) The company has not formulated a market value management system nor disclosed any valuation enhancement plan - The company has not formulated a market value management system[79](index=79&type=chunk) - The company has not disclosed a valuation enhancement plan[79](index=79&type=chunk) [Implementation of "Quality and Return Dual Improvement" Action Plan](index=21&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%22%E8%B4%A8%E9%87%8F%E5%9B%9E%E6%8A%A5%E5%8F%8C%E6%8F%90%E5%8D%87%22%E8%A1%8C%E5%8A%A8%E6%96%B9%E6%A1%88%E8%B4%AF%E5%BD%BB%E8%90%BD%E5%AE%9E%E6%83%85%E5%86%B5) The company has not disclosed an announcement regarding the "Quality and Return Dual Improvement" action plan - The company has not disclosed an announcement regarding the "Quality and Return Dual Improvement" action plan[79](index=79&type=chunk) [Corporate Governance, Environment, and Society](index=21&type=section&id=%E7%AC%AC%E5%9B%9B%E8%8A%82%20%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86%E3%80%81%E7%8E%AF%E5%A2%83%E5%92%8C%E7%A4%BE%E4%BC%9A) This section details changes in the company's governance, profit distribution plans, environmental disclosures, and social responsibility initiatives during the reporting period [Changes in Directors, Supervisors, and Senior Management](index=21&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) There were no changes in the company's directors, supervisors, or senior management during the reporting period - There were no changes in the company's directors, supervisors, or senior management during the reporting period[80](index=80&type=chunk) [Profit Distribution and Capital Reserve to Share Capital Conversion for the Reporting Period](index=21&type=section&id=%E4%BA%8C%E3%80%81%E6%9C%AC%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%88%A9%E6%B6%A6%E5%88%86%E9%85%8D%E5%8F%8A%E8%B5%84%E6%9C%AC%E5%85%AC%E7%A7%AF%E9%87%91%E8%BD%AC%E5%A2%9E%E8%82%A1%E6%9C%AC%E6%83%85%E5%86%B5) The company plans no cash dividends, bonus shares, or capital reserve to share capital conversions for the half-year period - The company plans no cash dividends, bonus shares, or capital reserve to share capital conversions for the half-year period[81](index=81&type=chunk) [Implementation of Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=21&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E6%9D%83%E6%BF%80%E5%8A%B1%E8%AE%A1%E5%88%92%E3%80%81%E5%91%98%E5%B7%A5%E6%8C%81%E8%82%A1%E8%AE%A1%E5%88%92%E6%88%96%E5%85%B6%E4%BB%96%E5%91%98%E5%B7%A5%E6%BF%80%E5%8A%B1%E6%8E%AA%E6%96%BD%E7%9A%84%E5%AE%9E%E6%96%BD%E6%83%85%E5%86%B5) The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures in place or implemented during the reporting period - The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures during the reporting period[82](index=82&type=chunk) [Environmental Information Disclosure](index=21&type=section&id=%E5%9B%9B%E3%80%81%E7%8E%AF%E5%A2%83%E4%BF%A1%E6%81%AF%E6%8A%AB%E9%9C%B2%E6%83%85%E5%86%B5) The company and its subsidiary, Wuhu Guofeng Plastic Technology Co., Ltd., are listed as enterprises required to disclose environmental information, with reports available on the Anhui environmental disclosure system - The company and its main subsidiary, Wuhu Guofeng Plastic Technology Co., Ltd., are included in the list of enterprises required to disclose environmental information by law[83](index=83&type=chunk) - Wuhu Guofeng Plastic Technology Co., Ltd.'s environmental information disclosure report can be found on the Enterprise Environmental Information Disclosure System (Anhui)[83](index=83&type=chunk) [Social Responsibility](index=22&type=section&id=%E4%BA%94%E3%80%81%E7%A4%BE%E4%BC%9A%E8%B4%A3%E4%BB%BB%E6%83%85%E5%86%B5) The company actively fulfills its social responsibilities by supporting rural revitalization, maintaining robust corporate governance, protecting shareholder rights, fostering employee innovation, and ensuring a safe and healthy work environment - The company continuously deepens its rural revitalization strategy, dispatches Party members and cadres for temporary assignments, innovates consumer assistance initiatives, conducts special sales of Ying Shang Gualou seeds and yellow peaches, and engages in Xinjiang aid cooperation procurement[84](index=84&type=chunk) - The company has established a standardized corporate governance structure, including a Shareholders' Meeting, Board of Directors, Supervisory Board, and specialized committees, diligently fulfills information disclosure obligations, and protects shareholder rights through various investor relations management activities[84](index=84&type=chunk) - The company carries out various initiatives focused on industrial worker team building reform, employee innovation, and the establishment of model worker innovation studios, with a project receiving a second-place award in Hefei City's 10th Employee Innovation Competition[85](index=85&type=chunk) - The company strictly adheres to labor laws and regulations, has a labor union and employee representative assembly, ensures employees' rights to participate in management, provides a safe and healthy workplace, and organizes activities such as Spring Festival condolences, serious illness assistance, and summer childcare classes for employees' children[85](index=85&type=chunk) [Significant Matters](index=23&type=section&id=%E7%AC%AC%E4%BA%94%E8%8A%82%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) This section covers the company's commitments, related party transactions, legal proceedings, and other significant events during the reporting period [Commitments Fulfilled and Overdue Unfulfilled by the Company's Actual Controller, Shareholders, Related Parties, Acquirers, and Other Committed Parties During and as of the End of the Reporting Period](index=23&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E3%80%81%E8%82%A1%E4%B8%9C%E3%80%81%E5%85%B3%E8%81%94%E6%96%B9%E3%80%81%E6%94%B6%E8%B4%AD%E4%BA%BA%E4%BB%A5%E5%8F%8A%E5%85%AC%E5%8F%B8%E7%AD%89%E6%89%BF%E8%AF%BA%E7%9B%B8%E5%85%B3%E6%96%B9%E5%9C%A8%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%B1%A5%E8%A1%8C%E5%AE%8C%E6%AF%95%E5%8F%8A%E6%88%AA%E8%87%B3%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E8%B6%85%E6%9C%9F%E6%9C%AA%E5%B1%A5%E8%A1%8C%E5%AE%8C%E6%AF%95%E7%9A%84%E6%89%BF%E8%AF%BA%E4%BA%8B%E9%A1%B9) The company reported no commitments that were overdue and unfulfilled by its actual controller, shareholders, related parties, acquirers, or other committed parties during or as of the end of the reporting period - The company reported no overdue unfulfilled commitments during the reporting period[87](index=87&type=chunk) [Non-Operating Funds Occupied by Controlling Shareholders and Other Related Parties from the Listed Company](index=23&type=section&id=%E4%BA%8C%E3%80%81%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E5%8F%8A%E5%85%B6%E4%BB%96%E5%85%B3%E8%81%94%E6%96%B9%E5%AF%B9%E4%B8%8A%E5%B8%82%E5%85%AC%E5%8F%B8%E7%9A%84%E9%9D%9E%E7%BB%8F%E8%90%A5%E6%80%A7%E5%8D%A0%E7%94%A8%E8%B5%84%E9%87%91%E6%83%85%E5%86%B5) The company reported no non-operating funds occupied by controlling shareholders or other related parties from the listed company during the reporting period - The company reported no non-operating funds occupied by controlling shareholders or other related parties from the listed company during the reporting period[88](index=88&type=chunk) [Irregular External Guarantees](index=23&type=section&id=%E4%B8%89%E3%80%81%E8%BF%9D%E8%A7%84%E5%AF%B9%E5%A4%96%E6%8B%85%E4%BF%9D%E6%83%85%E5%86%B5) The company reported no irregular external guarantees during the reporting period - The company reported no irregular external guarantees during the reporting period[89](index=89&type=chunk) [Appointment and Dismissal of Accounting Firms](index=23&type=section&id=%E5%9B%9B%E3%80%81%E8%81%98%E4%BB%BB%E3%80%81%E8%A7%A3%E8%81%98%E4%BC%9A%E8%AE%A1%E5%B8%88%E4%BA%8B%E5%8A%A1%E6%89%80%E6%83%85%E5%86%B5) The company's semi-annual financial report was not audited - The company's semi-annual financial report was not audited[90](index=90&type=chunk) [Board of Directors' and Supervisory Board's Explanation on "Non-Standard Audit Report" for the Reporting Period](index=23&type=section&id=%E4%BA%94%E3%80%81%E8%91%A3%E4%BA%8B%E4%BC%9A%E3%80%81%E7%9B%91%E4%BA%8B%E4%BC%9A%E5%AF%B9%E4%BC%9A%E8%AE%A1%E5%B8%88%E4%BA%8B%E5%8A%A1%E6%89%80%E6%9C%AC%E6%8A%A5%E5%91%8A%E6%9C%9F%22%E9%9D%9E%E6%A0%87%E5%87%86%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A%22%E7%9A%84%E8%AF%B4%E6%98%8E) The company did not have a non-standard audit report during the reporting period - The company did not have a non-standard audit report during the reporting period[91](index=91&type=chunk) [Board of Directors' Explanation on "Non-Standard Audit Report" for the Previous Year](index=23&type=section&id=%E5%85%AD%E3%80%81%E8%91%A3%E4%BA%8B%E4%BC%9A%E5%AF%B9%E4%B8%8A%E5%B9%B4%E5%BA%A6%22%E9%9D%9E%E6%A0%87%E5%87%86%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A%22%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5%E7%9A%84%E8%AF%B4%E6%98%8E) The company did not have a non-standard audit report during the reporting period - The company did not have a non-standard audit report during the reporting period[91](index=91&type=chunk) [Bankruptcy and Reorganization Matters](index=23&type=section&id=%E4%B8%83%E3%80%81%E7%A0%B4%E4%BA%A7%E9%87%8D%E6%95%B4%E7%9B%B8%E5%85%B3%E4%BA%8B%E9%A1%B9) The company did not have any bankruptcy or reorganization matters during the reporting period - The company did not have any bankruptcy or reorganization matters during the reporting period[91](index=91&type=chunk) [Litigation Matters](index=23&type=section&id=%E5%85%AB%E3%80%81%E8%AF%89%E8%AE%BC%E4%BA%8B%E9%A1%B9) The company had no significant litigation, arbitration, or other litigation matters during the reporting period - The company had no significant litigation or arbitration matters during the reporting period[92](index=92&type=chunk) [Penalties and Rectification](index=24&type=section&id=%E4%B9%9D%E3%80%81%E7%BD%9A%E5%A4%84%E5%8F%8A%E6%95%B4%E6%94%B9%E6%83%85%E5%86%B5) The company reported no penalties or rectification situations during the reporting period - The company reported no penalties or rectification situations during the reporting period[93](index=93&type=chunk) [Integrity Status of the Company, its Controlling Shareholder, and Actual Controller](index=24&type=section&id=%E5%8D%81%E3%80%81%E5%85%AC%E5%8F%B8%E5%8F%8A%E5%85%B6%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E3%80%81%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E7%9A%84%E8%AF%9A%E4%BF%A1%E7%8A%B6%E5%86%B5) The company's actual controller is the Hefei Municipal People's Government State-owned Assets Supervision and Administration Commission, and its controlling shareholder maintains good integrity with stable operations and no unfulfilled judgments or overdue debts - The company's actual controller is the Hefei Municipal People's Government State-owned Assets Supervision and Administration Commission[94](index=94&type=chunk) - The controlling shareholder, Hefei Industrial Investment Holding (Group) Co., Ltd., maintains stable operations and has no unfulfilled court judgments or large overdue debts, demonstrating good integrity[94](index=94&type=chunk) [Significant Related Party Transactions](index=24&type=section&id=%E5%8D%81%E4%B8%80%E3%80%81%E9%87%8D%E5%A4%A7%E5%85%B3%E8%81%94%E4%BA%A4%E6%98%93) The company reported no significant related party transactions concerning daily operations, asset/equity acquisition/disposal, joint external investments, or related party receivables/payables, and terminated its investments in two equity investment funds - The company reported no related party transactions concerning daily operations, asset or equity acquisition/disposal, joint external investments, or related party receivables/payables during the reporting period[95](index=95&type=chunk)[96](index=96&type=chunk)[97](index=97&type=chunk)[98](index=98&type=chunk) - The company terminated its capital contributions to Guolian Capital Equity Investment Fund and Jianhui Zhanxin Equity Investment Fund[102](index=102&type=chunk) [Significant Contracts and Their Performance](index=25&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%E9%87%8D%E5%A4%A7%E5%90%88%E5%90%8C%E5%8F%8A%E5%85%B6%E5%B1%A5%E8%A1%8C%E6%83%85%E5%86%B5) The company had no entrustment, contracting, or leasing matters, or entrusted wealth management. Total guarantees for subsidiaries amounted to **105.4533 million yuan**, representing **3.83%** of net assets, with **69.8356 million yuan** for entities with a debt-to-asset ratio exceeding **70%** [Entrustment, Contracting, and Leasing Matters](index=25&type=section&id=1%E3%80%81%E6%89%98%E7%AE%A1%E3%80%81%E6%89%BF%E5%8C%85%E3%80%81%E7%A7%9F%E8%B5%81%E4%BA%8B%E9%A1%B9%E6%83%85%E5%86%B5) The company had no entrustment, contracting, or leasing matters during the reporting period - The company had no entrustment matters during the reporting period[104](index=104&type=chunk) - The company had no contracting matters during the reporting period[105](index=105&type=chunk) - The company had no leasing matters during the reporting period[106](index=106&type=chunk) [Significant Guarantees](index=25&type=section&id=2%E3%80%81%E9%87%8D%E5%A4%A7%E6%8B%85%E4%BF%9D) During the reporting period, the company approved a total guarantee limit of **670 million yuan** for subsidiaries, with actual guarantees totaling **43.3525 million yuan** and an outstanding balance of **105.4533 million yuan** at period-end Company Guarantees for Subsidiaries for H1 2025 | Name of Guaranteed Party | Guarantee Limit (10,000 yuan) | Actual Guarantee Amount (10,000 yuan) | Guarantee Type | Guarantee Period | Fulfilled | | :--- | :--- | :--- | :--- | :--- | :--- | | Anhui Guofeng Wood-Plastic Technology Co., Ltd. | 6,000 | 0 | Joint and several liability guarantee | Two years | Yes | | Wuhu Guofeng Plastic Technology Co., Ltd. | 16,000 | 0 | Joint and several liability guarantee | One year | Yes | | Wuhu Guofeng Plastic Technology Co., Ltd. | 6,000 | 1,487.95 | Joint and several liability guarantee | Two years | No | | Wuhu Guofeng Plastic Technology Co., Ltd. | 3,000 | 0 | Pledge | One year | Yes | | Wuhu Guofeng Plastic Technology Co., Ltd. | 6,000 | 3,577.53 | Joint and several liability guarantee | One year | No | | Wuhu Guofeng Plastic Technology Co., Ltd. | 16,000 | 413.08 | Joint and several liability guarantee | One year | No | | Wuhu Guofeng Plastic Technology Co., Ltd. | 16,000 | 1,505 | Joint and several liability guarantee | One year | No | | Hefei Guofeng Advanced Base Materials Technology Co., Ltd. | 20,000 | 731.51 | Joint and several liability guarantee | Two years | No | | Anqing Guofeng New Energy Materials Co., Ltd. | 8,000 | 2,830.25 | Joint and several liability guarantee | One year | No | Company Total Guarantees for H1 2025 | Indicator | Amount (10,000 yuan) | | :--- | :--- | | Total Guarantee Limit Approved in Current Reporting Period | 67,000 | | Total Actual Guarantees Issued in Current Reporting Period | 4,335.25 | | Total Approved Guarantee Limit as of Period-End | 67,000 | | Total Actual Guarantee Balance as of Period-End | 10,545.33 | | Proportion of Total Actual Guarantees to Company's Net Assets | 3.83% | | Of which: Debt Guarantee Balance Provided Directly or Indirectly for Guaranteed Parties with Debt-to-Asset Ratio Exceeding 70% | 6,983.56 | [Entrusted Wealth Management](index=27&type=section&id=3%E3%80%81%E5%A7%94%E6%89%98%E7%90%86%E8%B4%A2) The company did not engage in any entrusted wealth management during the reporting period - The company did not engage in any entrusted wealth management during the reporting period[109](index=109&type=chunk) [Other Significant Contracts](index=27&type=section&id=4%E3%80%81%E5%85%B6%E4%BB%96%E9%87%8D%E5%A4%A7%E5%90%88%E5%90%8C) The company had no other significant contracts during the reporting period - The company had no other significant contracts during the reporting period[110](index=110&type=chunk) [Explanation of Other Significant Matters](index=27&type=section&id=%E5%8D%81%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E9%87%8D%E5%A4%A7%E4%BA%8B%E9%A1%B9%E7%9A%84%E8%AF%B4%E6%98%8E) The company plans to transfer assets from its polyimide branch to its wholly-owned subsidiary, Hefei Guofeng Advanced Base Materials Technology Co., Ltd., and is advancing the acquisition of **58.33%** of Jinzhang Technology shares - The company plans to transfer assets from its polyimide branch at book value to its wholly-owned subsidiary, Hefei Guofeng Advanced Base Materials Technology Co., Ltd[111](index=111&type=chunk) - The company continues to advance the acquisition of **46,263,796 shares** (representing **58.33%** of total share capital) of Jinzhang Technology through share issuance and cash payment, along with raising supporting funds; this matter has been submitted to the Shenzhen Stock Exchange for review[111](index=111&type=chunk) [Significant Matters of Company Subsidiaries](index=27&type=section&id=%E5%8D%81%E5%9B%9B%E3%80%81%E5%85%AC%E5%8F%B8%E5%AD%90%E5%85%AC%E5%8F%B8%E9%87%8D%E5%A4%A7%E4%BA%8B%E9%A1%B9) The company reported no significant matters concerning its subsidiaries during the reporting period - The company reported no significant matters concerning its subsidiaries during the reporting period[112](index=112&type=chunk) [Share Changes and Shareholder Information](index=28&type=section&id=%E7%AC%AC%E5%85%AD%E8%8A%82%20%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E5%8F%8A%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) This section details the company's share capital structure, shareholder numbers, and changes in holdings for directors, supervisors, and senior management during the reporting period [Share Change Situation](index=28&type=section&id=%E4%B8%80%E3%80%81%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) As of the end of the reporting period, the company's total shares were **895,976,271**, with **51,000** restricted shares (**0.01%**) and **895,925,271** unrestricted shares (**99.99%**), with no changes in total shares or structure [Share Change Situation](index=28&type=section&id=1%E3%80%81%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) As of the end of the reporting period, the company's total shares were **895,976,271**, with **51,000** restricted shares and **895,925,271** unrestricted shares, showing no changes in total shares or structure Share Change Situation as of H1 2025 | Share Type | Number Before This Change (shares) | Proportion | Increase/Decrease in This Change (shares) | Number After This Change (shares) | Proportion | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 51,000 | 0.01% | 0 | 51,000 | 0.01% | | 3. Other Domestic Shares | 51,000 | 0.01% | 0 | 51,000 | 0.01% | | Domestic Natural Person Shares | 51,000 | 0.01% | 0 | 51,000 | 0.01% | | II. Unrestricted Shares | 895,925,271 | 99.99% | 0 | 895,925,271 | 99.99% | | 1. RMB Ordinary Shares | 895,925,271 | 99.99% | 0 | 895,925,271 | 99.99% | | III. Total Shares | 895,976,271 | 100.00% | 0 | 895,976,271 | 100.00% | - Reasons for share changes, approval status, transfer status, and progress of share repurchases are all not applicable for the reporting period[115](index=115&type=chunk) [Changes in Restricted Shares](index=29&type=section&id=2%E3%80%81%E9%99%90%E5%94%AE%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) The company reported no changes in restricted shares during the reporting period - The company reported no changes in restricted shares during the reporting period[116](index=116&type=chunk) [Securities Issuance and Listing](index=29&type=section&id=%E4%BA%8C%E3%80%81%E8%AF%81%E5%88%B8%E5%8F%91%E8%A1%8C%E4%B8%8E%E4%B8%8A%E5%B8%82%E6%83%85%E5%86%B5) The company reported no securities issuance or listing activities during the reporting period - The company reported no securities issuance or listing activities during the reporting period[116](index=116&type=chunk) [Number of Shareholders and Shareholding](index=29&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E4%B8%9C%E6%95%B0%E9%87%8F%E5%8F%8A%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5) As of the end of the reporting period, the company had **71,260** common shareholders, with the controlling shareholder, Hefei Industrial Investment Holding (Group) Co., Ltd., holding **29.11%** of shares - The total number of common shareholders at the end of the reporting period was **71,260**[117](index=117&type=chunk) Shareholding of Shareholders Holding 5% or More or Top 10 Shareholders as of H1 2025 | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Shares Held at End of Reporting Period (shares) | Number of Unrestricted Shares Held (shares) | | :--- | :--- | :--- | :--- | :--- | | Hefei Industrial Investment Holding (Group) Co., Ltd. | State-owned Legal Person | 29.11% | 260,841,634 | 260,841,634 | | Wang Ziquan | Domestic Natural Person | 1.73% | 15,539,195 | 15,539,195 | | Li Guofeng | Domestic Natural Person | 1.32% | 11,867,136 | 11,867,136 | | Shang Pengyu | Domestic Natural Person | 0.67% | 6,021,200 | 6,021,200 | | Song Guoqiang | Domestic Natural Person | 0.67% | 6,011,670 | 6,011,670 | | Zhang Caihong | Domestic Natural Person | 0.43% | 3,826,100 | 3,826,100 | | Zhang Mingmin | Domestic Natural Person | 0.36% | 3,200,000 | 3,200,000 | | Luo Datong | Domestic Natural Person | 0.34% | 3,080,200 | 3,080,200 | | Hu Tianyi | Domestic Natural Person | 0.32% | 2,902,200 | 2,902,200 | | Ye Yongkang | Domestic Natural Person | 0.32% | 2,836,100 | 2,836,100 | - There is no associated relationship between the controlling shareholder and other shareholders, and it is unknown whether other shareholders have associated relationships or are acting in concert[117](index=117&type=chunk)[118](index=118&type=chunk) - Several top 10 common shareholders hold shares through both ordinary securities accounts and margin trading and securities lending accounts[118](index=118&type=chunk) [Changes in Shareholdings of Directors, Supervisors, and Senior Management](index=30&type=section&id=%E5%9B%9B%E3%80%81%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E5%92%8C%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E6%8C%81%E8%82%A1%E5%8F%98%E5%8A%A8) There were no changes in the shareholdings of the company's directors, supervisors, or senior management during the reporting period - There were no changes in the shareholdings of the company's directors, supervisors, or senior management during the reporting period[119](index=119&type=chunk) [Changes in Controlling Shareholder or Actual Controller](index=31&type=section&id=%E4%BA%94%E3%80%81%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E6%88%96%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E5%8F%98%E6%9B%B4%E6%83%85%E5%86%B5) 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[120](index=120&type=chunk) - The company's actual controller remained unchanged during the reporting period[120](index=120&type=chunk) [Preferred Shares Information](index=32&type=section&id=%E5%85%AD%E3%80%81%E4%BC%98%E5%85%88%E8%82%A1%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) The company had no preferred shares during the reporting period - The company had no preferred shares during the reporting period[121](index=121&type=chunk) [Bond-Related Information](index=33&type=section&id=%E7%AC%AC%E4%B8%83%E8%8A%82%20%E5%80%BA%E5%88%B8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) The company reported no bond-related information during the reporting period - The company reported no bond-related information during the reporting period[123](index=123&type=chunk) [Financial Report](index=34&type=section&id=%E7%AC%AC%E5%85%AB%E8%8A%82%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E5%91%8A) This section presents the company's unaudited consolidated and parent company financial statements for H1 2025, including balance sheets, income statements, cash flow statements, and statements of changes in equity [Audit Report](index=34&type=section&id=%E4%B8%80%E3%80%81%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) The company's semi-annual financial report was not audited - The company's semi-annual financial report was not audited[125](index=125&type=chunk) [Financial Statements](index=34&type=section&id=%E4%BA%8C%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section provides the company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owner's equity for H1 2025 Consolidated Balance Sheet Key Data as of June 30, 2025 | Item | Ending Balance (yuan) | | :--- | :--- | | Total Assets | 4,339,070,836.11 | | Total Liabilities | 1,587,741,845.76 | | Total Owner's Equity | 2,751,328,990.35 | | Total Owner's Equity Attributable to Parent Company | 2,751,328,990.35 | Consolidated Income Statement Key Data for H1 2025 | Item | Amount for Current Period (yuan) | | :--- | :--- | | Total Operating Revenue | 1,025,064,434.76 | | Total Operating Cost | 1,089,521,824.35 | | Operating Profit | -39,736,937.63 | | Total Profit | -38,380,508.85 | | Net Profit | -40,065,514.50 | | Net Profit Attributable to Parent Company Shareholders | -40,065,514.50 | | Basic Earnings Per Share (yuan/share) | -0.04 | | Diluted Earnings Per Share (yuan/share) | -0.04 | Consolidated Cash Flow Statement Key Data for H1 2025 | Item | Amount for Current Period (yuan) | | :--- | :--- | | Net Cash Flow from Operating Activities | 998,345.54 | | Net Cash Flow from Investing Activities | -219,816,824.04 | | Net Cash Flow from Financing Activities | 149,890,867.07 | | Net Increase in Cash and Cash Equivalents | -68,049,397.97 | | Cash and Cash Equivalents at End of Period | 253,634,701.18 | [Consolidated Balance Sheet](index=34&type=section&id=1%E3%80%81%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of June 30, 2025, consolidated total assets were **4.339 billion yuan**, with total liabilities of **1.588 billion yuan** and total owner's equity at

Group 1 - The company plans to acquire a total of 46,263,796 shares of Taihu Jinzhan Technology Co., Ltd., representing a significant portion of the company's total equity after cancellation of shares [1] - The company received an inquiry letter from the Shenzhen Stock Exchange regarding the issuance of shares and cash payment for asset acquisition, which prompted the revision of the restructuring report [1][2] - The revised restructuring report includes updates on major risks such as operational performance fluctuations, valuation risks, and the potential inability to meet performance commitments [2][3] Group 2 - The company has made updates to the basic information of the transaction counterparties and the operational qualifications of the target company [2][3] - The financial accounting information section has been supplemented with details regarding the goodwill situation arising from the transaction [3] - The company conducted a thorough review and self-inspection of the restructuring report, ensuring that the revisions did not impact the restructuring plan [3]

国元证券股份有限公司 关于深圳证券交易所 《关于安徽国风新材料股份有限公司 发行股份购买资产并募集配套资金申请的 审核问询函》回复之核查意见 （修订稿） 独立财务顾问 二〇二五年八月 深圳证券交易所： 安徽国风新材料股份有限公司（以下简称"上市公司"、"公司"或"国风新 材"）于 2025 年 5 月 19 日收到深圳证券交易所《关于安徽国风新材料股份有限公司 发行股份购买资产并募集配套资金申请的审核问询函》（审核函〔2025〕130004 号） （以下简称"《审核问询函》"）。公司及相关中介机构就《审核问询函》所提问题 进行了认真讨论分析与核查，并按照要求在《安徽国风新材料股份有限公司发行股份 及支付现金购买资产并募集配套资金暨关联交易报告书（草案）》（以下简称"重组 报告书"）中进行了相应的修订和补充披露。国元证券股份有限公司（以下简称"独 立财务顾问"）作为本次交易的独立财务顾问，现发表核查意见如下。 如无特别说明，本核查意见使用的简称与重组报告书中的释义相同。在本核查意 见中，部分合计数与各明细数直接相加之和在尾数上如有差异，如无特殊说明，均系 四舍五入造成。 问题 1：关于标的资产业绩和经营情况 目 ...