Core Viewpoint - Longxing Technology (002442.SZ) reported a revenue of 2.122 billion yuan for the first half of 2025, reflecting a year-on-year growth of 4.24% [1] - The net profit attributable to shareholders decreased by 22.68% to 48.3412 million yuan [1] - The net profit after deducting non-recurring gains and losses also saw a decline of 26.82%, amounting to 44.3801 million yuan [1] - Basic earnings per share stood at 0.0985 yuan [1] Financial Performance - Revenue for the first half of 2025: 2.122 billion yuan, up 4.24% year-on-year [1] - Net profit attributable to shareholders: 48.3412 million yuan, down 22.68% year-on-year [1] - Net profit after non-recurring items: 44.3801 million yuan, down 26.82% year-on-year [1] - Basic earnings per share: 0.0985 yuan [1]

| | | 龙星科技集团股份有限公司 关于 2025 年半年度募集资金存放、管理与实际使用情况的专项报告 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。 根据中国证券监督管理委员会出具的《关于同意龙星化工股份有限公司向不 特定对象发行可转换公司债券注册的批复》（证监许可〔2023〕2920 号），公司 于 2024 年 2 月 1 日向不特定对象发行了 7,547,539 张可转换公司债券，每张面 值为人民币 100.00 元，按面值发行，募集资金总额为人民币 754,753,900.00 元,扣除不含税发行费用人民币 9,438,723.30 元，实际募集资金净额为人民币 745,315,176.70 元。上述募集资金已于 2024 年 2 月 7 日到位。天职国际会计师 事务所（特殊普通合伙）已于 2024 年 2 月 7 日对上述募集资金到位情况进行了 审验，并出具了（天职业字〔2024〕1996 号）验资报告。 （二）募集资金使用和结余情况 单位：人民币元 | 项目 | | | | | | 金额 | | | --- | --- | --- | --- ...

龙星科技集团股份有限公司2025年1-6月份非经营性资金占用及其他关联资金往来情况汇总表 单位：人民币万元 法定代表人：刘鹏达 主管会计工作的负责人：杨津 会计机构负责人：周文杰 | 非经营性资金占用 | 资金占用方名称 | 占用方与上市公司的关 联关系 | 上市公司核算的 会计科目 | 2025年期初占用 资金余额 | 2025年1-6月占用 累计发生金额 | 2025年1-6月占用 资金的利息(如 | 2025年1-6月偿还 累计发生金额 | 2025年6月期末占 用资金余额 | 占用形成原因 | 占用性质 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | （不含利息） | 有) | | | | | | 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 | | | | | | | | | | | | 及其附属企业 | ...

龙星科技集团股份有限公司 2025 年半年度财务报告 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：龙星科技集团股份有限公司 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 | 342,851,890.43 | 311,161,722.38 | | 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 | 500,000.00 | 2,127,000.00 | | 应收账款 | 943,411,949.35 | 1,043,065,975.33 | | 应收款项融资 | 712,779,226.74 | 690,583,293.74 | | 预付款项 | 44,087,235.40 | 32,674,901.88 | | 应收保费 | | | | 应收分保账款 | | | | 应收分保合同准备金 | | | | 其他应 ...

一、会议召开情况 龙星科技集团股份有限公司（以下简称"公司"）第六届监事会 2025 年第 三次会议通知已于 2025 年 8 月 18 日以邮件和电话方式送达公司全体监事。本次 会议于 2025 年 8 月 29 日在公司三号会议室召开，会议应到监事 3 名，参与表决 的监事 3 名，会议由监事会主席侯贺钢先生主持。 本次监事会会议的召开符合《中华人民共和国公司法》《中华人民共和国证 券法》等法律、行政法规、部门规章、规范性文件及公司章程的有关规定。 证券简称：龙星科技 证券代码：002442 公告编号：2025-040 龙星科技集团股份有限公司 第六届监事会 2025 年第三次会议决议公告 本公司及监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。 表决结果：同意 3 票，反对 0 票，弃权 0 票。 二、会议审议情况 经与会监事认真审议、充分讨论，以记名投票方式表决，会议审议通过了以 下议案： 全体监事认为：《2025 年半年度报告及摘要》的编制程序符合法律、行政 法规等相关规定，客观、真实反映了公司当前的财务状况和生产经营情况，一致 同意该议案。 表决结果：同意 ...

证券代码：002442 证券简称：龙星科技 公告编号：2025-039 龙星科技集团股份有限公司 第六届董事会 2025 年第三次会议公告 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。 一、会议召开情况 龙星科技集团股份有限公司（以下简称"公司"）第六届董事会 2025 年第 三次会议通知于 2025 年 8 月 18 日以邮件和电话形式送达公司全体董事。会议于 2025 年 8 月 29 日在公司多功能会议室召开。会议应到董事 9 名，参与表决的董 事 9 名。本次会议由公司董事长刘鹏达先生主持，监事、高级管理人员列席了本 次会议。 本次董事会会议的召开符合《中华人民共和国公司法》《中华人民共和国证 券法》等法律、行政法规、部门规章、规范性文件及公司章程的有关规定。 全体董事认为：《2025 年半年度报告及摘要》的议案客观、真实地反映了 公司当前的财务状况和生产经营情况，报告内容真实、准确、完整，不存在任何 虚假记载、误导性陈述或者重大遗漏，全体董事一致同意该议案。 具体内容详见指定信息披露媒体《中国证券报》、《上海证券报》、《证券时 报》和巨潮资讯网（h ...

格隆汇8月29日丨龙星科技(002442.SZ)公布2025年半年度报告，上半年公司实现营业收入21.22亿元，同 比增长4.24%；归属于上市公司股东的净利润4834.12万元，同比下降22.68%；归属于上市公司股东的扣 除非经常性损益的净利润4438.01万元，同比下降26.82%；基本每股收益0.0985元。 ...

第一章 总则 信息披露暂缓与豁免管理制度 第一条 为规范龙星科技集团股份有限公司（以下简称"公司"）和其他信 息披露义务人的信息披露暂缓、豁免行为，督促公司及其他信息披露义务人依法、 合规履行信息披露义务，明确信息披露暂缓与豁免事项的内部审核程序，保护投 资者的合法权益，根据《中华人民共和国保守国家秘密法》、《中华人民共和国 证券法》、《上市公司信息披露管理办法》、《上市公司信息披露暂缓与豁免管 理规定》、《深圳证券交易所股票上市规则》等法律、法规、规范性文件及公司 相关制度规定，结合公司实际情况，制定本制度。 第二条 公司和其他信息披露义务人暂缓、豁免披露临时报告，在定期报告、 临时报告中豁免披露中国证券监督管理委员会和深圳证券交易所规定或者要求 披露的内容，适用本制度。 龙星科技集团股份有限公司 本制度适用于公司各部门、子公司以及公司能够对其实施重大影响的参股公 司。 第三条 公司和其他信息披露义务人应当真实、准确、完整、及时、公平地 披露信息，不得滥用暂缓或者豁免披露规避信息披露义务、误导投资者，不得实 施内幕交易、操纵市场等违法行为。 第四条 公司和其他信息披露义务人应当审慎确定信息披露暂缓、豁免事项 ...

Financial Performance - The company's operating revenue for the first half of 2025 was ¥2,121,928,427.85, representing a 4.24% increase compared to ¥2,035,550,555.42 in the same period last year[17]. - Net profit attributable to shareholders decreased by 22.68% to ¥48,341,218.89 from ¥62,518,498.70 year-on-year[17]. - The net cash flow from operating activities was ¥63,708,200.50, down 17.77% from ¥77,471,837.07 in the previous year[17]. - Basic earnings per share fell by 23.29% to ¥0.0985 from ¥0.1284 in the same period last year[17]. - The operating cost increased by 4.50% year-on-year, amounting to 1.94 billion yuan[44]. - The company achieved a net cash flow from operating activities of 63.71 million yuan, down 17.77% from the previous year[45]. - The company’s gross profit margin for carbon black was 6.04%, a decrease of 0.91% compared to the previous year[47]. - The company reported a total revenue of 470.26 million CNY and a net profit of 18.87 million CNY for the period[67]. - The company reported a total revenue of 80,000 million for the first half of 2025, with a net profit of 4,950 million, reflecting a significant increase compared to previous periods[110]. - The company reported a total revenue of 55.17 million yuan for the current period, showing a significant increase compared to the previous year[174]. - The total revenue for the current period reached 898 million, showing a significant increase compared to the previous period[176]. - The total comprehensive income for the current period is 4,037 million yuan, showing a significant increase compared to the previous period[179]. Market and Industry Insights - The carbon black industry, crucial for the economy, saw production increase by 4.11% to 2.6 million tons in the first half of 2025[25]. - The sales volume of carbon black rose by 1.54% to 2.5 million tons during the same period[25]. - The automotive industry, a key consumer of carbon black, experienced a 12.5% increase in production and an 11.4% increase in sales in the first half of 2025[25]. - The market share of new energy vehicles reached 44.3%, with production and sales of 6.968 million and 6.937 million units, respectively, reflecting a growth of 41.4% and 40.3%[25]. - The overall profit of industrial enterprises above designated size in China decreased by 1.8% year-on-year to 343.65 billion yuan in the first half of 2025, with the chemical raw materials and chemical products manufacturing industry down by 9.0%[26]. - The company faces significant market risk due to its reliance on carbon black products, particularly in the tire industry, which could lead to performance declines if market conditions worsen[69]. - Approximately 80% of carbon black production costs are attributed to raw materials like coal tar and ethylene tar, making the company vulnerable to price fluctuations in these materials[70]. Research and Development - The company is focusing on research and development, particularly in new carbon materials and market expansion, to counteract external adverse impacts and maintain profitability[36]. - The company invested a total of 116.24 million yuan in R&D during the first half of 2025, a significant increase of 131.67% compared to the previous year[38]. - Research and development expenses increased to $22,109,093.52, up 55.38% from $14,248,568.51[162]. - The company has allocated 900 thousand yuan for special reserves in the current period, indicating a proactive approach to financial management[174]. - The company has invested significantly in R&D, with a focus on innovative technologies to enhance product offerings[176]. Production and Operations - In the first half of 2025, the company's carbon black production capacity reached 645,000 tons per year, with white carbon black capacity at 35,000 tons per year, positioning it as a leader in the domestic market[35]. - The company employs an "order-driven production" model, ensuring that production aligns with confirmed customer orders, which enhances efficiency and customer satisfaction[32]. - The company has implemented advanced production techniques, including a DCS automated production control system, to ensure high-quality and high-yield carbon black products[32]. - The company utilizes a wet granulation method for carbon black production, which reduces dust pollution and enhances product quality during storage and transportation[29]. - The company has a total of 17 advanced wet granulation production lines, ranking among the top three in carbon black production in China according to industry statistics[37]. - The company is focused on expanding its production capabilities in carbon-based materials and new technologies[68]. Financial Management and Strategy - The company plans not to distribute cash dividends or issue bonus shares for this period[5]. - The company has maintained a reasonable debt-to-asset ratio and has implemented a prudent financial policy to ensure good debt repayment capability[72]. - The company has not reported any significant equity investments during the reporting period, focusing instead on internal growth and development[55]. - The company has no significant changes in the use of raised funds or any major asset sales during the reporting period[64][65]. - The company has confirmed that there are no issues with the disclosure of raised funds or their usage[63]. - The company has established a modern corporate governance structure to ensure effective decision-making and protect shareholder rights[80]. - The company has not experienced any penalties or corrective actions during the reporting period, reflecting good compliance[95]. Shareholder and Equity Information - The company has repurchased and canceled 21,000 restricted shares at a price of 2.77 yuan per share as part of its stock incentive plan[77]. - The total number of shares decreased by 16,272 shares, from 503,298,525 shares to 503,282,253 shares[125]. - The number of restricted shares decreased by 612,406 shares, from 15,418,056 shares (3.06%) to 14,805,650 shares (2.94%) due to the unlocking of restricted stock[124]. - The number of unrestricted shares increased by 596,134 shares, from 487,880,469 shares (96.94%) to 488,476,603 shares (97.06%)[124]. - The company plans to continue its stock incentive program with future unlock dates set for January 15, 2025, and June 20, 2025[128]. - Liu Jiangshan holds 19.45% of the shares, totaling 97,897,902 shares, with no changes during the reporting period[131]. - The company has issued 7,547,539 convertible bonds with a total fundraising amount of RMB 754,753,900, which will be traded on the Shenzhen Stock Exchange starting March 6, 2024[140]. Compliance and Governance - The company has passed ISO9001 quality management system and ISO14001 environmental management system certifications, promoting clean production and energy conservation[83]. - The company has established a robust quality management system to continuously improve product quality and optimize product structure, enhancing customer satisfaction[84]. - The company maintains good long-term relationships with suppliers, focusing on communication and coordination to improve quality assurance capabilities[85]. - The company has no significant litigation or arbitration matters during the reporting period, ensuring stable operational performance[94]. - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[90]. - The company has no significant guarantees or related party transactions during the reporting period, maintaining financial integrity[91][97]. Community Engagement and Sustainability - The company actively participates in community development and charitable activities, improving community education and employment rates[87]. - The company has achieved a 100% safe disposal rate for industrial solid waste and hazardous waste, meeting total emission control requirements[83]. - The company has set a target to reduce carbon emissions by 20% by 2026 as part of its sustainability initiatives[173].

Core Viewpoint - The carbon black industry in China is experiencing structural overcapacity, with low operating rates and production growth, leading to increased operational pressures on companies due to fluctuating raw material prices and environmental regulations [1][8][19]. Industry Overview - Carbon black is a nano-sized carbon material primarily used in tire manufacturing, rubber products, and other applications, with the domestic market mainly focused on rubber-grade carbon black [2][3]. - The upstream materials for carbon black production include coal tar and ethylene tar, which account for 60-80% of total costs, while the downstream applications are dominated by the tire industry, which consumes 70-75% of carbon black [3][7]. Industry Operation - China's carbon black production capacity exceeds 9 million tons, with a utilization rate of around 60%, and production is expected to grow slightly in 2024 [8][19]. - The export of carbon black has increased due to the expansion of Chinese tire manufacturers in Southeast Asia, although the export growth rate is expected to slow due to international trade barriers [9][19]. Raw Material Prices - The price of coal tar, a key raw material, has shown significant volatility, impacting the cost structure of carbon black companies. In 2024, the average price of high-temperature coal tar is projected to be around 4,167 yuan/ton, a decrease of approximately 10% from 2023 [10][19]. Downstream Demand - The tire market's growth directly influences carbon black demand, with a projected 9.2% increase in tire production in 2024. However, rising costs and stricter environmental regulations have led to a decrease in carbon black usage in tires [14][19]. Price Trends - Carbon black prices have been on a downward trend since 2023, influenced by raw material price fluctuations and weak downstream demand. The market is expected to experience price volatility in 2024 [16][19]. Key Industry Players - In 2024, the total carbon black production in China is expected to reach 6.67 million tons, with leading companies like Jiangxi Black Cat and Jineng Technology holding significant market shares. The top five companies account for 46% of total production [19][21]. Industry Policies and Focus - National policies are aimed at eliminating outdated production capacity and increasing industry concentration, with a focus on encouraging advanced production techniques and improving resource utilization [21][22]. - The implementation of stricter environmental regulations is increasing the costs for carbon black companies, necessitating investments in cleaner production technologies [22][23]. Future Industry Outlook - The carbon black market is expected to maintain moderate growth, driven by demand from the tire and automotive sectors, as well as the expansion of high-end carbon black applications [26]. - Key trends include structural adjustments towards high-end products, accelerated industry consolidation, increased focus on technological innovation, and a shift towards green and low-carbon production methods [26].