Group 1 - The company successfully acquired land use rights for the construction of the China Energy Construction Green Civil Explosives Innovation Development Center project on December 26, 2024 [1] - China Gezhouba Group Construction Engineering Co., Ltd. was confirmed as the winning bidder for the project, with a bid amount of 225 million yuan (including tax) [1] - The transaction amount accounts for 3% of the company's most recent audited net assets, and does not require submission for shareholder meeting approval [1] Group 2 - The contract is scheduled for completion by December 31, 2026 [1] - Gezhouba Construction Company is a wholly-owned subsidiary of Gezhouba Group, which holds a 43.37% stake in the company [1]

Core Viewpoint - Yipuli (002096.SZ) successfully acquired land use rights for the construction of the China Energy Construction Green Civil Explosives Innovation Development Center project in Changsha, Hunan Province on December 26, 2024 [1] Group 1: Project Details - The project aims to ensure construction management, quality, and investment efficiency through public bidding for selecting cooperation units [1] - China Gezhouba Group Construction Engineering Co., Ltd. was selected as the winning bidder with a bid amount of 225 million yuan (including tax) [1] Group 2: Corporate Relationships - China Gezhouba Group holds a 43.37% stake in Yipuli, making it the controlling shareholder [1] - The construction company is a wholly-owned subsidiary of Gezhouba Group, and this transaction constitutes a related party transaction under the Shenzhen Stock Exchange listing rules [1]

关联董事陈宏义先生和肖同军先生回避表决。 本议案在提交董事会前已经公司 2025 年第 2 次独立董事专门会、第七届董 事会审计委员会审议通过。 证券代码：002096 证券简称：易普力 公告编号：2025-039 易普力股份有限公司 第七届董事会第二十一次会议（临时）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、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 易普力股份有限公司（以下简称公司）第七届董事会第二十一次会议（临时） 于 2025 年 9 月 10 日以通讯表决的方式召开。本次会议通知已于 2025 年 9 月 8 日以书面形式送达各位董事。会议由付军董事长主持，会议应到董事 9 名，实到 董事 8 名，曾德坤副董事长因事委托邓小英董事代为出席并行使表决权。公司部 分高级管理人员列席会议。本次会议的召开符合《公司法》和《公司章程》的规 定。 会议以 7 票赞成，0 票反对，0 票弃权的表决结果，审议通过《关于公司与 中国葛洲坝集团建设工程有限公司开展关联交易的议案》 2025 年 9 月 11 日 该议案内容详见同日刊登在《证券时报》《中国证券报》《上海证券报》《证 券日报》上及公司 ...

证券代码：002096 证券简称：易普力 公告编号：2025-040 易普力股份有限公司 关于建设中国能建绿色民爆创新发展中心项目 暨关联交易的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、关联交易概述 1.2024 年 12 月 26 日，易普力股份有限公司（以下简称"公司"）于湖南 省长沙市湘江新区成功竞得土地使用权，用于建设中国能建绿色民爆创新发展中 心项目。为规范项目建设管理，确保工程质量和投资效益，根据公司招投标管理 办法有关要求，采用公开招标方式遴选合作单位。经评标委员会评审及中标结果 公示，最终确定中国葛洲坝集团建设工程有限公司（以下简称"葛洲坝建设公司"） 为本项目中标单位，中标金额为 2.25 亿元（含税）。 2.中国葛洲坝集团股份有限公司（以下简称"葛洲坝集团"）持有公司 43.37% 的股份，为本公司控股股东。葛洲坝建设公司为葛洲坝集团全资子公司，根据《深 圳证券交易所股票上市规则》6.3.3 条规定，葛洲坝集团及其下属企业为公司关 联法人。本次交易构成公司与葛洲坝建设公司的关联交易。 3.2025 年 9 月 10 日，公司 ...

关于参加 2025 年湖南辖区上市公司投资者网上 集体接待日活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 为进一步加强与投资者的互动交流，易普力股份有限公司（以下简称"公司"） 将参加由湖南证监局、湖南省上市公司协会与深圳市全景网络有限公司联合举办 的"资本聚三湘 楚光耀新程—2025 年湖南辖区上市公司投资者网上集体接待 日"活动，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （https://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演 APP， 参与本次互动交流，活动时间为 2025 年 9 月 19 日（星期五）14:00-17:00。届 时公司高管将在线就公司 2024 年度及 2025 年半年度业绩、公司治理、发展战略、 经营状况和可持续发展等投资者关心的问题，与投资者进行沟通与交流，欢迎广 大投资者踊跃参与。 特此公告。 2025 年 9 月 11 日 证券代码：002096 证券简称：易普力 公告编号：2025-038 易普力股份有限公司 易普力股份有限公司董事会 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has shown steady growth in performance, with a significant increase in revenue and net profit for the first half of 2025. Revenue reached 4.713 billion yuan, a year-on-year increase of 20.42%, while net profit attributable to shareholders was 409 million yuan, up 16.43% year-on-year [4] - The company is focusing on mergers and acquisitions to expand its capacity, with a notable increase in new contracts for blasting services, amounting to 5.903 billion yuan, a 96% year-on-year growth [7] - The company has a strong market presence in both domestic and international markets, covering approximately 21 provinces in China and expanding into countries along the Belt and Road Initiative [6] Financial Performance - In the first half of 2025, the company achieved a basic earnings per share of 0.33 yuan, with the second quarter showing a revenue of 2.703 billion yuan, a year-on-year increase of 26.44% and a quarter-on-quarter increase of 34.48% [4] - The gross profit margins for different segments were 34.48% for explosives, 29.19% for detonators, and 21.15% for engineering blasting, with a notable increase in the share of engineering blasting revenue [5] - The company expects net profits for 2025 to reach 864 million yuan, with projected earnings per share of 0.70 yuan, corresponding to a price-to-earnings ratio of 19.46 [8]

Group 1 - The core viewpoint of the news is that Yipuli's stock performance has shown fluctuations, with a year-to-date increase of 18.71% and recent declines in the short term [1] - As of August 29, Yipuli had 37,000 shareholders, with an average of 18,944 circulating shares per person, indicating stable shareholder engagement [2] - Yipuli's main business revenue composition includes 75.36% from blasting services, 13.53% from industrial explosives, and 4.71% from industrial detonators, highlighting its focus on the explosive materials sector [1] Group 2 - For the first half of 2025, Yipuli achieved operating revenue of 4.713 billion yuan, a year-on-year increase of 20.42%, and a net profit attributable to shareholders of 409 million yuan, up 16.43% [2] - Since its A-share listing, Yipuli has distributed a total of 891 million yuan in dividends, with 577 million yuan distributed over the past three years [3] - The company's stock has experienced a trading volume of 1.06 billion yuan with a market capitalization of 17.155 billion yuan as of September 8 [1]

Group 1: SF Express (顺丰同城) / Logistics - The company achieved revenue of 10.236 billion yuan in H1 2025, a year-on-year increase of 48.81%, and a net profit of 137 million yuan, up 120.43% year-on-year [3][4] - The ToB delivery and last-mile business saw significant growth, with a 50%+ increase in same-city delivery orders, driving revenue to 5.779 billion yuan, a 43.11% increase year-on-year [4] - The company’s gross margin was 6.65%, slightly down by 0.23 percentage points, while the net profit margin improved by 0.44 percentage points to 1.34% [5][6] Group 2: China Everbright Environment (光大环境) / Environmental Governance - The company reported a revenue of 14.304 billion HKD in H1 2025, a decrease of 8% year-on-year, and a net profit of 2.207 billion HKD, down 10% year-on-year [8][9] - Operating service revenue increased by 5% to 9.943 billion HKD, accounting for 70% of total revenue, while construction service revenue fell by 49% [9][10] - The company’s gross margin improved significantly to 44.26%, up 5.53 percentage points year-on-year, and the net margin increased to 19.44%, up 0.84 percentage points [10] Group 3: Fenbi (粉笔) / Education - The company reported a revenue of 1.492 billion yuan in H1 2025, a decrease of 8.5% year-on-year, and a net profit of 227 million yuan, down 18.39% year-on-year [11][12] - The AI question-answering system is expected to become a new growth engine, with significant potential for revenue increase [13][14] - The company forecasts revenues of 2.525 billion yuan, 2.618 billion yuan, and 2.793 billion yuan for 2025-2027, with a "buy" rating [14] Group 4: HuiLiang Technology (汇量科技) / Advertising Marketing - The company achieved total revenue of 938 million USD in H1 2025, a year-on-year increase of 47%, and a net profit of 32.28 million USD, up 340% year-on-year [15][17] - The average daily advertising requests increased from over 200 billion in H1 2024 to over 300 billion in H1 2025, indicating strong client engagement [18] - The company forecasts revenues of 2.211 billion USD, 2.747 billion USD, and 3.301 billion USD for 2025-2027, with a "buy" rating [18] Group 5: Focus Media (分众传媒) / Advertising Marketing - The company reported total revenue of 6.112 billion yuan in H1 2025, a year-on-year increase of 2.43%, and a net profit of 2.665 billion yuan, up 6.87% year-on-year [20][21] - The gross margin improved to 68.3%, up 3.2 percentage points year-on-year, while the net margin reached 43.4%, up 2.3 percentage points [21][22] - The company plans to distribute a cash dividend of 1 yuan per 10 shares, with a cash dividend ratio of 25.5% [20] Group 6: Tungsten Industry / Industry Research - The report highlights a tightening supply of tungsten due to regulatory constraints and declining ore grades, with limited new projects expected [27][28] - The demand for tungsten is projected to grow, driven by applications in hard alloys and the semiconductor industry, with significant projects like the Yarlung Tsangpo River hydropower project expected to boost demand [28][29] - The strategic importance of tungsten is increasing due to export controls and tariffs, leading to a potential revaluation of tungsten resources [29] Group 7: Great Wall Motors (长城汽车) / Passenger Vehicles - The company reported total revenue of 92.33 billion yuan in H1 2025, a year-on-year increase of 1%, and a net profit of 6.34 billion yuan, down 10.2% year-on-year [31][32] - The company’s Q2 2025 revenue reached 52.32 billion yuan, a year-on-year increase of 7.7%, with a significant increase in net profit [32][33] - The company forecasts revenues of 225.3 billion yuan, 278.5 billion yuan, and 312.5 billion yuan for 2025-2027, with a "buy" rating [34] Group 8: Dongfang Tower (东方铁塔) / Agricultural Chemical Products - The company achieved revenue of 2.148 billion yuan in H1 2025, a year-on-year increase of 8.51%, and a net profit of 493 million yuan, up 79.18% year-on-year [35][36] - The company’s Q2 revenue was 1.193 billion yuan, a year-on-year increase of 10.20%, with a significant increase in net profit [37][38] - The company forecasts revenues of 4.926 billion yuan, 5.145 billion yuan, and 5.372 billion yuan for 2025-2027, with a "buy" rating [39] Group 9: Yipule (易普力) / Chemical Products - The company reported revenue of 4.713 billion yuan in H1 2025, a year-on-year increase of 20.4%, and a net profit of 409 million yuan, up 16.4% year-on-year [42][43] - The company’s Q2 revenue was 2.703 billion yuan, a year-on-year increase of 26.4%, with a significant increase in net profit [43][44] - The company’s performance is driven by high-quality development and market investment [44]

Group 1 - The core viewpoint of the news is that Yipuli's stock performance has shown fluctuations, with a year-to-date increase of 15.97% and a recent decline over the past five and twenty trading days [1] - As of September 4, Yipuli's stock price was 13.51 CNY per share, with a total market capitalization of 16.758 billion CNY [1] - The company has seen a net inflow of main funds amounting to 1.4578 million CNY, with significant buying and selling activities recorded [1] Group 2 - For the first half of 2025, Yipuli reported a revenue of 4.713 billion CNY, reflecting a year-on-year growth of 20.42%, and a net profit attributable to shareholders of 409 million CNY, up 16.43% [2] - The company has distributed a total of 889 million CNY in dividends since its A-share listing, with 577 million CNY distributed over the past three years [3] Group 3 - Yipuli's main business segments include blasting services (75.36% of revenue), industrial explosives (13.53%), and other products [1] - The company is categorized under the basic chemical industry, specifically in chemical products related to civil explosives, and is involved in various concept sectors such as civil explosives, hydropower, and the Belt and Road Initiative [1]

Group 1 - The construction industry faced overall pressure in the first half of 2025, with a slight improvement in cash flow in Q2 [6][10][12] - The industry's revenue and profit both declined year-on-year, with total revenue of 3.92 trillion yuan, down 5.63%, and net profit of 936.2 billion yuan, down 5.33% [12][26] - The gross profit margin for construction companies was 10.14%, a slight decrease of 0.12 percentage points year-on-year, while the net profit margin increased marginally to 2.39% [6][10][20] Group 2 - The construction industry saw an increase in cash collection efficiency, with the cash collection ratio rising by 6.29 percentage points to 95.11% [6][31] - The industry's asset-liability ratio increased to 77.52%, up 0.57 percentage points from the beginning of the year, indicating a rise in financial leverage [6][34] - The total amount of funds occupied by downstream owners increased, with accounts receivable and inventory reaching 10.03 trillion yuan, a year-on-year increase of 8.57% [27][30] Group 3 - The chemical engineering and petroleum engineering sectors showed resilience, with positive revenue growth, while the steel structure sector also saw profit recovery due to overseas expansion [11][39][40] - In the first half of 2025, only two sub-sectors, steel structure and chemical engineering, achieved positive revenue growth of 2.81% and 1.33% respectively [39][41] - The gross profit margin for the international engineering and petroleum engineering sectors improved, with international engineering at 15.14%, up 3.26 percentage points [43][44]