证券代码：002165 证券简称：红宝丽 公告编号：临 2025－052 红宝丽集团股份有限公司 关于使用部分闲置募集资金进行现金管理的赎回公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 红宝丽集团股份有限公司（以下简称"公司"）第十届董事会第十四次会议 于 2024 年 8 月 13 日召开，会议审议通过了《公司关于使用部分闲置募集资金进 行现金管理的议案》。2024 年 8 月 30 日，公司召开 2024 年第三次临时股东大 会批准了前述议案，同意公司在不影响募投项目建设的前提下，使用不超过 2.5 亿元（含）额度的部分闲置募集资金进行现金管理，购买金融机构发行的投资期 限为 12 个月以内（含）的安全性高、流动性好、满足保本要求的短期投资产品， 在上述额度内，资金可以滚动使用。投资产品到期后，或期间项目建设资金需要， 所使用的资金将转回募集资金专户，不会影响募投项目的建设。监事会、保荐机 构均发表了明确的同意意见。具体内容详见公司 2024 年 8 月 15 日披露在巨潮 资讯网（www.cninfo.com.cn）上的《关于使用部分闲置募集资金 ...

Financial Performance - The company reported a total revenue of 1.245 billion yuan, a year-on-year decrease of 1.1% [1] - The net profit attributable to shareholders was 24.39 million yuan, down 35.51% year-on-year [1] - In Q2, total revenue was 591 million yuan, a decline of 10.65% year-on-year, with net profit of 2.39 million yuan, down 73.43% [1] - The gross margin was 13.55%, a decrease of 11.19% year-on-year, while the net margin was 2.01%, down 33.64% [1] - Total expenses (selling, administrative, and financial) amounted to 140 million yuan, accounting for 11.24% of revenue, an increase of 5.0% year-on-year [1] - Earnings per share were 0.03 yuan, a decrease of 40.0% year-on-year [1] Cash Flow and Debt Management - The net cash flow from operating activities increased by 24.48%, attributed to reduced purchases and a decrease in operating receivables [2] - The net cash flow from financing activities increased by 138.28%, due to a reduction in debt repayment and the use of acceptance bill guarantees [3] - The company has a healthy cash asset position, with cash assets to current liabilities ratio at 54.41% [6] Business Model and Operations - The company relies heavily on R&D for its business performance, focusing on technological innovation and lean production to reduce costs and enhance competitiveness [5] - The company produces a range of isopropanol amines, which are used in various applications, and continues to innovate and expand into new application areas [7] - The company is involved in the epoxy propane industry, facing increased competition due to rapid capacity expansion and low pricing [8] - The company is currently upgrading its epoxy propane production technology to improve efficiency and increase capacity to 160,000 tons [8] Financial Ratios and Historical Performance - The company's return on invested capital (ROIC) was 2.69%, indicating weak capital returns, with a historical median ROIC of 2.81% over the past decade [3] - The company has experienced a generally weak financial performance, with one loss year since its IPO and a notable low ROIC of 0.41% in 2022 [3] - The company's receivables are concerning, with accounts receivable amounting to 965.24% of net profit [6]

Core Viewpoint - Hongbaoli's financial performance in the first half of 2025 shows significant pressure, with a slight decline in revenue and a substantial drop in net profit compared to the previous year [1][3]. Financial Performance - Revenue for the first half of 2025 was 1.245 billion yuan, a year-on-year decrease of 1.1% [1]. - Net profit attributable to shareholders was 24 million yuan, representing a significant decline of 35.51% year-on-year [1]. - The net profit margin decreased from 3.03% in the first half of 2024 to 2.01% in 2025, a drop of 1.02 percentage points [3]. - Gross profit margin fell from 15.26% in the first half of 2024 to 13.55% in 2025, a decrease of 1.71 percentage points [3]. - Return on equity for the first half of 2025 was 1.20%, down 0.64 percentage points year-on-year [3]. Operational Stability - Inventory turnover days increased to 62.54 days, up 9.69% from the first half of 2024, indicating increased inventory management pressure [5]. - Net cash flow from operating activities was 91 million yuan, an increase of 0.18 million yuan compared to 73 million yuan in the same period of 2024 [5]. - The debt-to-asset ratio for the first half of 2025 was 66.02%, an increase of 3.67 percentage points year-on-year, indicating a heavier debt burden [5]. Institutional Holdings - As of the first half of 2025, the number of institutions holding Hongbaoli's stock decreased to 7, down from 32 in the same period of 2024, reflecting weakened confidence among institutional investors [7]. - The company's market capitalization peaked at nearly 20 billion yuan in June 2021, while the current market cap is 7.228 billion yuan, requiring a 177% increase in stock price to reach historical highs [7]. - The overall cyclical adjustment pressure in the basic chemical industry suggests that a return to historical highs may take time [7].

Group 1 - The core revenue composition of Hongbaoli for the first half of 2025 is as follows: basic chemical raw materials account for 90.52%, other businesses account for 9.4%, and other industries account for 0.09% [1] - Hongbaoli announced on August 21 that it will increase its investment in its wholly-owned subsidiary, Hongbaoli Group Taixing Chemical Co., Ltd., by 600 million yuan to support project construction and optimize capital structure [3] - After the capital increase, the registered capital of Taixing Chemical will change to 1.6 billion yuan, and the increase accounts for 29.56% of the company's most recent audited net assets [3]

（文章来源：每日经济新闻） 红宝丽（SZ 002165，收盘价：9.83元）8月21日晚间发布半年度业绩报告称，2025年上半年营业收入约 12.45亿元，同比减少1.1%；归属于上市公司股东的净利润约2439万元，同比减少35.51%；基本每股收 益0.03元，同比减少40%。 ...

格隆汇8月21日丨红宝丽(002165.SZ)公布，公司为推进公司向上一体化产业转型升级，满足全资子公司 红宝丽集团泰兴化学有限公司(简称"泰兴化学公司")项目建设资金需要并优化其资本结构，以自有资金 对泰兴化学公司增资6亿元。本次增资完成后，泰兴化学公司的注册资本变更为16亿元，增资额占公司 最近一期经审计净资产的29.56%。 ...

Group 1 - The core viewpoint of the article is that Hongbaoli (002165.SZ) reported a decline in both revenue and net profit for the first half of 2025 compared to the previous year [1] Group 2 - The company achieved an operating income of 1.245 billion yuan, representing a year-on-year decrease of 1.10% [1] - The net profit attributable to shareholders of the listed company was 24.39 million yuan, down 35.51% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -6.17 million yuan [1] - The basic earnings per share were 0.03 yuan [1]

格隆汇8月21日丨红宝丽(002165.SZ)公布，公司为推进公司向上一体化产业转型升级，满足全资子公司 红宝丽集团泰兴化学有限公司(简称"泰兴化学公司")项目建设资金需要并优化其资本结构，以自有资金 对泰兴化学公司增资6亿元。本次增资完成后，泰兴化学公司的注册资本变更为16亿元，增资额占公司 最近一期经审计净资产的29.56%。 ...

证券代码：002165 证券简称：红宝丽 公告编号：临 2025－050 红宝丽集团股份有限公司 关于增加子公司泰兴化学项目投资概算的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏 红宝丽集团股份有限公司（以下简称"公司"或"红宝丽"）于 2025 年 8 月 20 日召开了第十一届董事会第二次会议，审议通过了《关于增加子公司泰兴 化学项目投资概算的议案》。现将具体内容公告如下： 一、基本情况 公司第十届董事会于 2023 年 9 月 20 日召开了第七次会议，审议通过了《关 于泰兴化学公司环氧丙烷扩建项目方案调整的议案》。公司环氧丙烷综合技术改 造项目仍由全资子公司泰兴化学公司承担建设任务。公司对泰兴化学项目原扩建 方案进行了调整，根据能量指标条件，决定先将项目技改为 16 万吨装置规模， 并根据工艺优化等情况对原计划的项目建设内容进行调整。该技术改造项目已于 2023 年 3 月经政府主管部门备案，项目计划总投资 39,909.76 万元，其中建 设投资 27,620.36 万元，铺底流动资金 4,789.40 万元等。技改项目完全达产 后，形成环氧丙 ...

证券代码：002165 证券简称：红宝丽 公告编号：临 2025－049 红宝丽集团股份有限公司 关于对全资子公司泰兴化学增资的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏 红宝丽集团股份有限公司（以下简称"公司"或"红宝丽"）于 2025 年 8 月 20 日召开了第十一届董事会第二次会议，审议通过了《关于对全资子公司泰 兴化学增资的议案》。现将具体内容公告如下： 一、增资概述 公司为推进公司向上一体化产业转型升级，满足全资子公司红宝丽集团泰兴 化学有限公司（以下简称"泰兴化学公司"）项目建设资金需要并优化其资本结 构，以自有资金对泰兴化学公司增资 60,000 万元。本次增资完成后，泰兴化学 公司的注册资本变更为 160,000 万元，增资额占公司最近一期经审计净资产的 29.56%。根据《深圳证券交易所自律监管指引第 1 号——主板上市公司规范运作》、 《公司章程》等相关规定，本议案须提交公司股东会审议。本次交易不构成关联 交易，亦不构成《上市公司重大资产重组管理办法》规定的重大资产重组。 二、增资主体基本情况 1、泰兴公司基本情况 公司名称：红宝 ...