Core Viewpoint - The company faces significant pressure on its performance in 2025, although some financial indicators show signs of improvement [1] Financial Performance - The net profit attributable to the parent company for the entire year of 2025 was -22.18 million yuan, but the loss in the fourth quarter narrowed to -1.05 million yuan, which is an increase compared to the third quarter but a reduced year-on-year decline [2] - The gross profit margin in the fourth quarter increased to 6.58%, significantly higher than the average level in the first three quarters [2] Financial Condition - The net cash flow from operating activities turned positive in 2025, reaching 2.52 million yuan, a substantial year-on-year increase due to timely collection of sales receivables and increased cash inflows from financing activities [3] - At the end of 2025, the company's asset-liability ratio was 8.88%, significantly lower than at the end of the third quarter of 2025 [3] - The current ratio and quick ratio improved, indicating enhanced short-term solvency [3] Operational Status - The total operating revenue for 2025 was 465 million yuan, a year-on-year decline [4] - Total period expenses decreased year-on-year, with the three expenses accounting for 4.2% of revenue [4] - The net profit margin for 2025 was -4.77%, and the gross profit margin was only 1.07%, indicating weak profitability in the main business [4] - The weighted average return on equity (ROE) was -54.99%, and the return on assets (ROA) was -13.33% [4]

Core Viewpoint - The company, Kairuide, reported a significant decline in revenue and an increase in net loss for the year 2025, primarily due to a challenging domestic coal market and strategic business adjustments [1][3]. Financial Performance - The company achieved a revenue of 465 million CNY, a year-on-year decrease of 25.89% [1][2]. - The net profit attributable to shareholders was -22.18 million CNY, representing an 11-fold increase in losses compared to the previous year [1]. - The gross margin for coal trading decreased by 2.18% during the reporting period [1][2]. Business Operations - Kairuide operates mainly in the coal trading sector, utilizing both self-operated and agency models, with a focus on self-operated business [1]. - The company has adjusted its business strategy to control the scale of operations in response to market pressures [1]. Cash Flow and Legal Issues - The net cash flow from operating activities increased by 158.88% to 252,200 CNY, despite the net loss, due to timely collection of sales receivables [3]. - The company is facing multiple shareholder lawsuits related to past management's illegal activities, which may pose additional risks [3]. Regulatory Actions - Kairuide received an administrative penalty of 8 million CNY for failing to disclose certain external guarantees and significant litigation matters [3]. Shareholder Activity - The second-largest shareholder, Nonggu Group, plans to reduce its stake by up to 3% through market transactions starting December 21, 2025 [4]. - As of the report, Kairuide's stock price decreased by 2.65% to 7.70 CNY per share, with a total market capitalization of approximately 2.831 billion CNY [4][6].

Group 1 - The core viewpoint of the news is that 凯瑞德 (Kairde) reported a significant decline in both revenue and net profit for the year 2025, indicating financial distress [1] - The company's operating revenue for 2025 was 465 million yuan, a year-on-year decrease of 25.89% [1] - The net profit attributable to shareholders was -22.18 million yuan, a year-on-year decline of 1142.61% [1] - The basic earnings per share for the reporting period was -0.06 yuan, with a weighted average return on equity of -54.99% [1] - As of February 10, the company's price-to-earnings ratio (TTM) was approximately -142.71 times, and the price-to-book ratio (LF) was about 95.98 times [1] Group 2 - In the fourth quarter of 2025, the company's gross margin was 6.58%, an increase of 1.33 percentage points year-on-year [1] - The net profit margin for the same quarter was -1.28%, a decrease of 1.88 percentage points compared to the previous year [1] - The company's total expenses for the year were 19.51 million yuan, a decrease of 2.14 million yuan from the previous year [1] - The total number of shareholders as of the end of 2025 was 11,600, an increase of 314 from the previous quarter, representing a growth of 2.79% [2] - The average market value held per shareholder decreased from 248,500 yuan to 229,700 yuan, a decline of 7.56% [2] Group 3 - 凯瑞德 is located in Jingmen City, Hubei Province, and was established on June 12, 2000, with its listing date on October 18, 2006 [2] - The company's main business involves coal trading, accounting for 100% of its revenue [2] - The company belongs to the Shenwan industry classification of retail trade and is associated with concepts such as shell resources and small-cap growth [2]

Core Viewpoint - The company reported a significant decline in revenue and incurred net losses in its 2025 annual report, indicating challenges in the coal industry and a need for strategic improvements to enhance its market position [1] Financial Performance - The company achieved an operating revenue of 465 million yuan, representing a year-on-year decrease of 25.89% [1] - The net loss attributable to shareholders was 22.18 million yuan, with a net loss of 14.11 million yuan after deducting non-recurring gains and losses [1] - The basic loss per share was 0.0603 yuan [1] Industry Context - The company faced ongoing pressure from domestic coal prices, leading to a slight contraction in business while maintaining last year's scale [1] - The company is relatively small in terms of overall business volume and scale compared to its industry peers, indicating a weaker market position [1] Strategic Outlook - The company aims to leverage its resources accumulated over years in the coal industry to expand its self-operated coal trading business and improve its competitive position [1] - There is a focus on strengthening upstream and downstream relationships and enhancing supplier and customer reserves to maintain business development potential [1]

Group 1 - The company, Kairde (002072.SZ), announced a projected net loss of 22.18 million yuan for the year 2025 [1] - The company's operating revenue for 2025 is expected to be 465 million yuan, representing a year-on-year decline of 25.89% [1] - The company will not distribute cash dividends, issue bonus shares, or increase share capital from reserves [1]

Core Viewpoint - The company reported a significant decline in revenue and an increase in net loss for the year 2025, indicating financial challenges ahead [1] Financial Performance - The company's operating revenue for 2025 is projected to be 465 million yuan, representing a year-on-year decrease of 25.89% [1] - The net loss attributable to shareholders of the listed company is expected to be 22.1826 million yuan, compared to a net loss of 1.7852 million yuan in the same period last year [1] Dividend Policy - The company plans not to distribute cash dividends, issue bonus shares, or increase share capital from reserves [1]

尤振专审字[2026]第 0039 号 凯瑞德控股股份有限公司 内部控制审计报告 2025 年度 内部控制审计报告 尤振专审字[2026]第0039号 凯瑞德控股股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求，我们审 计了凯瑞德控股股份有限公司（以下简称"凯瑞德公司"）2025 年 12 月 31 日的财务报 告内部控制的有效性。 一、 企业对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业内部控制评价 指引》的规定，建立健全和有效实施内部控制，并评价其有效性是凯瑞德公司董事会 的责任。 二、 注册会计师的责任 我们的责任是在实施审计工作的基础上，对财务报告内部控制的有效性发表审计 意见，并对注意到的非财务报告内部控制的重大缺陷进行披露。 三、 内部控制的固有局限性 内部控制具有固有局限性，存在不能防止和发现错报的可能性。此外，由于情况 的变化可能导致内部控制变得不恰当，或对控制政策和程序遵循的程度降低，根据内 部控制审计结果推测未来内部控制的有效性具有一定风险。 四、 财务报告内部控制审计意见 【本页无正文,为凯瑞德控股股份有限公司内部控 ...

凯瑞德控股股份有限公司 审计报告及财务报表 2025 年度 尤振审字[2026]第 0027 号 凯瑞德控股股份有限公司 审计报告及财务报表 （2025 年 1 月 1 日至 2025 年 12 月 31 日止） | 目录 | 页次 | | --- | --- | | 一、 审计报告 | 1-5 | | 二、 财务报表 | | | 合并资产负债表 | 1-2 | | 合并利润表 | 3 | | 合并现金流量表 | 4 | | 合并股东权益变动表 | 5-6 | | 母公司资产负债表 | 7-8 | | 母公司利润表 | 9 | | 母公司现金流量表 | 10 | | 母公司股东权益变动表 | 11-12 | | 财务报表附注 | 1-74 | 审 计 报 告 尤振审字[2026]第0027号 凯瑞德控股股份有限公司全体股东： 一、审计意见 我们审计了凯瑞德控股股份有限公司（以下简称"凯瑞德公司"）财务报表，包括 2025 年 12 月 31 日的合并及母公司资产负债表，2025 年度的合并及母公司利润表、合并及母公 司现金流量表、合并及母公司股东权益变动表以及相关财务报表附注。 我们认为，后附的财务报表在所有 ...

关于凯瑞德控股股份有限公司 2025 年度营业收入扣除情况的 专项核查报告 尤振专审字[2026]第 0038 号 关于对凯瑞德控股股份有限公司2025年度 营业收入扣除情况的专项核查意见 尤振专审字[2026]第0038号 凯瑞德控股股份有限公司全体股东： 我们接受委托，对凯瑞德控股股份有限公司（以下简称"凯瑞德公司"）2025 年度 财务报表进行了审计，并于 2026 年 2 月 9 日出具了尤振审字[2026]第 0027 号审计报 告。在此基础上，我们对后附的由凯瑞德公司管理层编制 2025 年度营业收入扣除情况 表（以下简称"营业收入扣除情况表"）进行了专项核查。 一、 管理层的责任 凯瑞德公司管理层的责任是提供真实、合法、完整的相关资料，按照《深圳证券 交易所股票上市规则(2025 年修订)》的相关规定编制营业收入扣除情况表，确保营业 收入扣除情况表真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏。 二、 注册会计师的责任 我们的责任是在实施核查工作的基础上对凯瑞德公司管理层编制的营业收入扣除 情况表发表专项核查意见。 三、 工作概述 我们按照《中国注册会计师其他鉴证业务准则第 3101 号 ...

凯瑞德控股股份有限公司 独立董事 2025 年度述职报告（沈新鹏） 各位股东及股东代表： 本人作为凯瑞德控股股份有限公司（以下简称"公司"）的独立董事，在任 职期间严格按照《公司法》《上市公司独立董事管理办法》《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》《公司章程》《独立董 事工作制度》等相关法律、法规的规定，在 2025 年度工作中，诚信、勤勉尽责、 忠实履行职责，积极出席相关会议，对各项议案进行认真审议，充分发挥了独立 董事作用，维护公司利益和全体股东尤其是中小股东的合法权益。 现就本人 2025 年度履行独立董事职责情况汇报如下： 一、出席董事会会议及列席股东会情况 报告期内，本人对公司本年度召开的董事会会议的各项议案均认真审议，无 提出异议的事项，也没有反对、弃权的情形，与会期间积极参与各议案的讨论并 提出合理建议，所提建议均为公司所采纳，为董事会的正确、科学决策发挥积极 作用。 报告期内，公司董事会、股东会的召集召开符合法定程序，重大经营决策事 项和其他重大事项均履行了相关的审批程序。本人出席会议的情况如下： | 独立董事 | 现场出席 | 以通讯方式参加 | 委托出席 ...