Core Viewpoint - The company reported a revenue of 2.79 billion with a year-on-year growth of 3.6%, but the net profit attributable to shareholders decreased by 48% to 69 million [1] Group 1: Financial Performance - In the first half of 2025, the company's revenue was 2.79 billion, reflecting a 3.6% increase year-on-year, while the net profit attributable to shareholders was 69 million, down 48% [1] - For Q2 2025, the company achieved a revenue of 1.45 billion, a year-on-year increase of 3.9%, but the net profit attributable to shareholders dropped by 79% to 14 million, primarily due to a credit impairment provision of 32.14 million [2] Group 2: Market Environment - The domestic refractory materials industry is under pressure, with national production of refractory materials in the first half of 2025 at 10.6287 million tons, a decrease of 3.69% year-on-year, and crude steel production at 515 million tons, down 3% [2] - Domestic sales amounted to 1.95 billion, a decline of 1.4%, with a domestic gross margin of 12.1%, down 3.17 percentage points year-on-year [2] Group 3: Business Developments - The company signed a supplemental agreement with Greenme, committing to supply approximately 500,000 tons of active magnesium oxide from 2025 to 2028, which is expected to secure the company's profit base for the next three years [2] - The active magnesium oxide business is progressing steadily, with potential orders and a focus on markets in Indonesia and Africa, while production capacity is being established in the US and Serbia [3] Group 4: Future Outlook - The company expects revenues of 270 million and 550 million for 2025 and 2026, respectively, corresponding to price-to-earnings ratios of 32 and 15, indicating a buy rating [4]

Major Events - China Railway announced an investigation into the construction accident at the Qianzhai Yellow River Bridge, which resulted in 12 fatalities and 4 missing persons. The bridge is 1596.2 meters long with a contract value of approximately 436 million yuan. The company stated that this incident will not have a significant impact on its operations and performance [4] - Greenme announced plans to issue H-shares and list on the main board of the Hong Kong Stock Exchange [5] - Jingwang Electronics plans to invest 5 billion yuan in the Zhuhai Jinwan base expansion project, focusing on high-growth areas such as AI computing power and automotive intelligence [6][7] - Mingtai Aluminum intends to sell a 2.5% stake in Sanmenxia Aluminum to Jiaozuo Wanfang, with the share price set at 5.39 yuan per share, expecting to receive 149 million shares [8] - Dingsheng New Materials also plans to sell a 0.57% stake in Sanmenxia Aluminum under similar terms [9] Performance Overview - Xiyu Co. reported a net profit of 1.062 billion yuan for the first half of 2025, a year-on-year increase of 32.76%, with total revenue of 21.093 billion yuan, up 12.35% [10] - Jintailang reported a net profit of 358 million yuan, a 3.95% increase, with revenue of 9.528 billion yuan, up 2.49% [11] - Huaxia Eye Hospital achieved a net profit of 282 million yuan, a 6.2% increase, with revenue of 2.139 billion yuan, up 4.31% [12] - Juxin Technology reported a net profit growth of 123.19%, reaching 91.375 million yuan, with revenue of 449 million yuan, up 60.12% [13][14] - Zhendong Pharmaceutical reported a net profit of 7.9313 million yuan, a decline of 74.13%, with revenue of 1.457 billion yuan, down 3.3% [15] - China Merchants South Oil reported a net profit decline of 53.28%, totaling 570 million yuan, with revenue of 2.772 billion yuan, down 21.43% [16] - Chongqing Construction reported a net loss of 249 million yuan, with revenue of 14.359 billion yuan, down 7.97% [17] - Huacan Optoelectronics reported a net loss of 115 million yuan, with revenue of 2.532 billion yuan, up 33.93% [18] - Digital Government reported a net loss of 18.6927 million yuan, with revenue of 321 million yuan, down 40.34% [19] Major Contracts - Zhonggong International signed a contract for an overseas road engineering project in Nicaragua, valued at approximately 513 million yuan, which represents 4.2% of the company's total revenue for 2024 [20] Shareholding Changes - Tiancheng Technology announced that shareholder Qingxun Electronics plans to reduce its stake by up to 119,000 shares, representing no more than 0.1% of the total share capital [22] - Ailong Technology's controlling shareholder plans to reduce its stake by up to 1.69% through various trading methods [23]

Core Viewpoint - Greeenme Co., Ltd. has officially initiated the planning for its H-share listing on the Hong Kong Stock Exchange to support its global development strategy and enhance its international brand image and competitiveness [1] Group 1: H-share Listing - The company held a board and supervisory committee meeting on August 21 to approve the series of proposals for the H-share issuance [1] - The purpose of the H-share issuance is to leverage diversified financing channels in the international capital market for sustainable development and management [1] Group 2: Company Overview - Founded in 2001 and headquartered in Shenzhen, Greenme specializes in the manufacturing of new energy materials and urban mining [1] - The company has established a full lifecycle value chain encompassing battery recycling, raw material regeneration, material regeneration, battery pack regeneration, and new energy vehicle services [1] - Greenme is a pioneer in urban mining in China and a promoter of the global new energy industry, having built 16 major recycling industrial parks worldwide [1]

Core Viewpoint - Company plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its global strategy and brand image [1] Group 1 - The decision is aimed at meeting the needs of the company's globalization efforts [1] - The move is intended to improve the company's international brand image and overall competitiveness [1] - The company seeks to leverage international capital markets and diversify its financing channels for sustainable development [1]

智通财经APP讯，格林美(002340.SZ)发布公告，为满足公司全球化发展的需要，深入推进全球化战略， 提升国际品牌形象和综合竞争力，更好地借助国际资本市场、多元化融资渠道，助力公司可持续发展及 管理，经充分研究论证，董事会同意公司发行H股股票并在香港联合交易所有限公司(以下简称"香港联 交所")主板挂牌上市。 ...

人民财讯8月24日电，格林美（002340）8月24日晚间公告，公司拟发行H股股票并在香港联交所主板挂 牌上市。 ...

格林美公告，公司于2025年8月21日召开董事会和监事会，审议通过了发行H股股票并在香港联交所主 板上市的议案。此举旨在满足公司全球化发展的需要，提升国际品牌形象和综合竞争力，多元化融资渠 道，助力公司可持续发展。目前，具体细节尚未最终确定，需提交股东会审议，并取得相关政府部门、 监管机构、证券交易所的批准或备案。本次发行上市能否通过审议、备案和审核程序并最终实施具有较 大不确定性。 ...

格林美股份有限公司 章 程（草案） （H 股发行并上市后适用） 二〇二五年八月 | | | | | | 第一章 总则 第一条 为维护格林美股份有限公司（以下简称"公司"）及其股东、职工和 债权人的合法权益，规范公司的组织和行为，根据《中华人民共和国公司法》（以 下简称"《公司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、 《中国共产党章程》（以下简称"《党章》"）、《香港证券及期货条例》、《香 港联合交易所有限公司证券上市规则》（以下简称"《香港上市规则》"）等法律、 法规、规范性文件、公司股票上市地证券监管部门和证券交易所（以下统称"公 司股票上市地证券监管机构"）有关监管法律、法规、规范性文件（以下统称"公 司股票上市地证券监管规则"）和其他有关规定,制订本章程。 第二条 公司系依照《公司法》和其他有关法律、法规的规定成立的股份有 限公司。 公司于 2006 年 12 月 11 日经原深圳市格林美高新技术有限公司股东会 作出决议，以原深圳市格林美高新技术有限公司全体股东共同作为发起人，以发 起设立方式将原深圳市格林美高新技术有限公司整体变更为股份公司。公司依法 在深圳市工商行政管理局注册登 ...

格林美股份有限公司 董事会议事规则 第一章 总 则 第一条 为了进一步规范本公司董事会的议事方式和决策程序，促使董事会 有效地履行其职责，提高董事会规范运作和科学决策水平，根据《中华人民共和 国公司法》（以下简称"《公司法》"）、《中华人民共和国证券法》等法律、法 规、规范性文件及《格林美股份有限公司章程》（以下简称"公司章程"）的规定， 制订本规则。 第二条 公司设董事会，对股东会负责。 第三条 董事会由6名董事组成，其中独立董事2名。董事会设董事长1人，为 公司法定代表人。董事会可以设副董事长1人。 公司董事会设立审计委员会，并根据需要设立战略委员会、提名委员会、薪 酬与考核委员会、信息披露委员会等专门委员会。专门委员会对董事会负责，依 照公司章程和董事会授权履行职责，提案应当提交董事会审议决定。专门委员会 成员全部由董事组成，其中审计委员会、提名委员会、薪酬与考核委员会中独立 董事占多数并担任召集人，审计委员会的召集人为会计专业人士。董事会负责制 定专门委员会工作规程，规范专门委员会的运作。 董事会下可设证券部，处理董事会日常事务。 董事会秘书兼任证券部负责人，保管董事会资料和董事会印章。 第二章 董事 ...

格林美股份有限公司 财务管理制度 第一章 总则 第一条 为了规范格林美股份有限公司(以下简称"公司")的会计确认、计量和 报告行为，加强公司内部财务管理，有效地防范财务风险，确保公司的各项具体 财务管理和核算工作制度化，保证会计信息质量，根据《中华人民共和国会计 法》、《企业会计准则——基本准则》和相关具体准则等法律法规，结合公司具 体情况，特制定本制度。 第二条 本制度适用于本公司及各分支机构、控股子公司。 第三条 本制度的拟定及修订程序 1、由公司财务部提出拟订或修订； 2、调查公司财务管理制度现状、结合公司目标等提出修订方案； 3、提请相关部门及人员讨论，审议修订方案； 4、提交董事会审核，由董事会批准后实施。 第四条 公司本部财务部根据本制度制订公司统一的具体财务制度、细则、 办法及流程。具体财务制度的批准，除相关法规及本制度规定须报经董事会批准 外，具体财务制度报公司总经理批准，具体财务管理与核算细则、办法及财务相 关流程由公司财务负责人批准。 第五条 具体财务制度拟定及修订程序比照本制度第三条执行。 第六条 公司财务部应定期对财务制度实施情况检查、收集最新相关法律法 规知识，使制度不断完善并得到有 ...