Group 1: Company Announcements - Wolong Electric Drive has submitted an application for issuing overseas listed shares (H-shares) and listing on the Hong Kong Stock Exchange on August 13, 2025, with the application materials published on the same day [1] - Shunhao Co., Ltd. plans to issue overseas shares (H-shares) and list on the Hong Kong Stock Exchange to respond to national policies aimed at accelerating the development of new productivity and promoting business transformation [2] - Chipsea Technology announced its intention to issue shares overseas and list on the Hong Kong Stock Exchange, considering the interests of existing shareholders and market conditions [3] Group 2: Financial Reports - Kang Shifu reported a revenue of 40.092 billion yuan for the first half of 2025, a decrease of 2.7% year-on-year, with a net profit of 2.688 billion yuan, an increase of 20.3% [23] - Weibo's Q2 revenue reached 4.448 billion USD (approximately 32 billion yuan), with an adjusted operating profit of 1.618 billion USD (approximately 11.58 billion yuan), exceeding Wall Street expectations [24] - Lenovo Group reported a revenue of 136.2 billion yuan for the first quarter of the 2025/26 fiscal year, a year-on-year increase of 22% [25] Group 3: Market Trends - The global smart glasses market saw a 110% year-on-year increase in shipments in the first half of 2025, with Meta holding over 70% market share [22] - JD Group reported a revenue of 356.7 billion yuan for Q2, a year-on-year increase of 22.4%, with a net profit of 16.2 billion yuan [27] - Vipshop achieved a net revenue of 25.8 billion yuan in Q2, with a GMV of 51.4 billion yuan, reflecting a 1.7% year-on-year growth [28] Group 4: Investment and Financing - "Dagu Technology" completed a new round of financing worth tens of millions of yuan, with the funds intended for production line construction, technology research and development, and global market expansion [29]

Company News - China Heavy Industry announced on August 14 that it has submitted an application for voluntary termination of its A-share listing [7] - China Telecom reported a net profit of 23.02 billion yuan for the first half of the year and plans to distribute an interim dividend of 16.58 billion yuan [8] - Tianpu Co. announced that its actual controller is planning a change in company control, and its stock will be suspended from trading starting tomorrow [9] Industry News - The number of investors participating in margin trading reached 523,400 on August 13, marking a new high for the year, with an increase of 46,100 from the previous trading day, a 9.67% month-on-month growth [4] - The China Chemical and Physical Power Industry Association released a draft proposal on August 14 to maintain fair competition and promote healthy development in the energy storage industry, with 152 energy storage companies participating in the initiative [6] - Jiangsu Province announced on August 14 that it will waive towing and lifting fees for vehicle rescue services on highways starting in September, making it the first province to fully exempt these fees [6] - The Guizhou Provincial Government issued a three-year action plan for the high-quality development of the low-altitude economy, aiming to establish a basic low-altitude management mechanism by 2027 [6] Global Market - The U.S. stock market saw most indices rise, with the S&P 500 index reaching a new record closing high for three consecutive trading days, up 0.03% [10] - International crude oil futures prices increased by approximately 2%, with WTI crude oil futures for September rising by 2.09% [11] - COMEX gold futures fell by 0.77%, settling at $3,382 per ounce, while silver futures dropped by 1.46% to $38.04 per ounce [11]

Group 1 - The sixth meeting of the sixth supervisory board of Shanghai Shunhao New Materials Technology Co., Ltd. was held on August 13, 2025, with all three supervisors present, confirming compliance with relevant laws and regulations [1] - The supervisory board approved the 2025 semi-annual report and its summary, affirming that the report accurately reflects the company's actual situation without any false records or misleading statements [1][2] - The company will no longer have a supervisory board, transferring its powers to the audit committee of the board of directors, with relevant amendments made to the company's articles of association [3] Group 2 - The decision to abolish the supervisory board was made to enhance corporate governance efficiency and streamline management processes [3] - The company expressed gratitude to the supervisors for their contributions during their tenure [3]

Meeting Information - The company will hold its first extraordinary general meeting of shareholders for 2025 on September 5, 2025, at 14:30 [1] - Shareholders can participate through on-site voting or online voting via the Shenzhen Stock Exchange systems [1][4] - The online voting will be available from 9:15 to 9:25, 9:30 to 11:30, and 13:00 to 15:00 on the same day [1] Shareholder Rights - All shareholders registered with the China Securities Depository and Clearing Corporation Limited as of September 1, 2025, have the right to attend the meeting and can appoint proxies [2] - Proxies do not need to be shareholders of the company [2] Agenda Items - The meeting will review proposals that have been approved by the company's board and supervisory board [3] - Proposals 1.00, 2.01, and 2.02 require a special resolution, needing over 2/3 of the voting rights held by attending shareholders to pass [3] - The meeting will elect one non-independent director and will not use cumulative voting [3] Registration Details - Registration can be done on-site or via mail/fax, with a deadline of September 4, 2025, at 17:00 [4] - Required documents for registration include identification and proof of shareholding [4] Voting Procedures - Detailed procedures for online voting are provided, ensuring that shareholders can vote effectively [5] - The voting process will prioritize the first valid vote in case of repeated voting on the same proposal [5] Contact Information - For inquiries, shareholders can contact the company via phone, fax, or email [4]

Core Viewpoint - The company plans to initiate the process for issuing H shares and listing on the Hong Kong Stock Exchange to enhance its global strategy and competitiveness [1][2]. Group 1: Company Actions - The company's board approved the proposal to authorize management to start preparations for the overseas issuance of H shares and listing on the Hong Kong Stock Exchange [1]. - The decision aims to respond to national policies promoting new productive forces and to leverage the advantages of its controlling shareholder in overseas markets [1]. Group 2: Future Steps and Uncertainties - The company is currently in discussions with relevant intermediaries regarding the issuance and listing, but specific details have not yet been finalized [2]. - The H share listing will require approval from the company's board and shareholders, as well as regulatory review by the China Securities Regulatory Commission and the Hong Kong Stock Exchange, introducing significant uncertainty [2].

证券代码：002565 证券简称：顺灏股份 公告编号：2025-043 上海顺灏新材料科技股份有限公司 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 上海顺灏新材料科技股份有限公司（以下简称"公司"）于2025年8月13日召 开公司第六届董事会第九次会议、第六届监事会第七次会议，分别审议通过了《关 于修订 <公司章程> 及不设监事会的议案》，此议案尚需提交公司股东大会审议，且 需经出席股东大会的股东所持有效表决权的2/3以上通过，现将有关情况公告如下： 一、关于修订《公司章程》及不设监事会的情况 根据《中华人民共和国公司法》《关于新 <公司法> 配套制度规则实施相关过渡 期安排》 《上市公司章程指引（2025年修订）》 《深圳证券交易所股票上市规则（2025 年修订）》等相关法律法规、规范性文件的最新规定，为进一步提升公司治理效能， 精简管理流程，公司将不再设置监事会，监事会的职权由董事会审计委员会行使， 同时对《公司章程》中相关条款进行了修订完善。 《公司章程》经股东大会审议通过后，公司《监事会议事规则》即行废止，公 司监事会将停止履职，公司监事自动解任，公司各 ...

Core Viewpoint - The company has approved the use of up to RMB 350 million of idle self-owned funds for entrusted wealth management to enhance fund utilization efficiency and increase returns for shareholders [2][3][5]. Investment Overview - The board of directors approved the investment of up to RMB 350 million in high-security, high-liquidity financial products, with a validity period of one year from the date of approval [2][3]. - The investment amount at any point in time, including reinvested earnings, should not exceed the authorized limit [2][3]. Risk Control Measures - The company will select qualified financial institutions with good credit and financial status for entrusted management, including banks, securities firms, and fund companies [3][4]. - The company will invest in high-credit, liquid financial instruments, ensuring that the funds used are idle self-owned funds and do not involve raised funds or bank credit [3][4]. Impact on the Company - The entrusted wealth management will not affect the company's normal operations or financial stability, and it aims to improve fund efficiency and generate investment returns [5][6]. Board Meeting Approval - The sixth board of directors unanimously approved the proposal for entrusted wealth management, allowing the rolling use of idle funds within the specified limit and timeframe [5][6].

Group 1 - The board of directors of Shanghai Shunhao New Materials Technology Co., Ltd. held its ninth meeting on August 13, 2025, where all five attending directors approved the resolutions [1] - The company’s 2025 semi-annual report was reviewed and deemed comprehensive, accurate, and free of misleading statements [1][2] - The company approved a total of RMB 280 million in comprehensive credit lines from various banks to support its business operations [2][3] Group 2 - The company agreed to provide guarantees for its wholly-owned subsidiary, Shunhao International Trade Co., Ltd., for credit applications totaling RMB 129 million and RMB 20 million from two banks [3] - The board authorized the management to use up to RMB 350 million of idle funds for entrusted wealth management, valid for one year [4] Group 3 - The company decided to abolish the supervisory board, transferring its powers to the audit committee of the board, and amended relevant articles in the company’s articles of association [6] - Several governance documents were revised and approved, including the rules for shareholder meetings and board meetings, all requiring shareholder approval [7][8] Group 4 - The company initiated preparations for issuing H shares and listing on the Hong Kong Stock Exchange, aiming to enhance its global competitiveness [11][12] - The board approved the appointment of Hong Kong Lixin Dehao Accounting Firm as the auditing agency for the H share issuance [12] Group 5 - Zhang Shancun was nominated as a non-independent director candidate, and Zhang Zheyu was appointed as co-president of the company [13][14] - The company plans to hold its first temporary shareholders' meeting on September 5, 2025, to discuss matters requiring shareholder approval [14]

Core Viewpoint - The report highlights the financial performance and strategic direction of Shanghai Shunho New Materials Technology Co., Ltd., emphasizing its focus on environmentally friendly packaging and the industrial hemp market, while also addressing the challenges and opportunities within the tobacco and new tobacco product sectors [1][2][3]. Financial Performance - The company's operating revenue for the first half of 2025 was approximately 619.54 million yuan, a decrease of 12.19% compared to the same period in 2024 [2]. - The net profit attributable to shareholders was approximately 29.48 million yuan, down 6.24% from the previous year [2]. - Basic and diluted earnings per share increased by 23.14% to 0.0314 yuan per share [2]. Industry Overview - The global green packaging market is experiencing significant growth, with the tobacco packaging sector projected to reach 10.15 billion USD by 2031, reflecting a compound annual growth rate (CAGR) of 1.9% [3]. - In China, the packaging industry is supported by a robust policy framework aimed at promoting green development, with the government emphasizing the establishment of a resource-circulating industrial system by 2025 [3]. - The industrial hemp market is expanding globally, with 57 countries legalizing some form of medical cannabis, and the market for medical cannabis expected to reach 21.04 billion USD by 2025 [3]. Company Strategy - The company maintains a dual strategy focusing on "environmentally friendly low-carbon new materials" and "biological health," with core business areas including special environmentally friendly paper, printing products, industrial hemp processing, and new tobacco products [7][11]. - The company is actively pursuing research and development in new tobacco products and has obtained necessary licenses for electronic cigarette production [11][12]. - The company has established subsidiaries in the U.S. to capitalize on the growing industrial hemp market and has developed innovative products such as Nano Joints, which aim to provide a healthier alternative to traditional smoking [9][10]. Competitive Advantages - The company is recognized as a high-tech enterprise and has been involved in setting industry standards, maintaining a competitive edge in the special anti-counterfeiting environmentally friendly paper market [12][16]. - The company has a strong focus on research and development, holding 402 patents and 223 trademarks, which supports its innovation capabilities [13][12]. - The company emphasizes sustainable practices, having developed biodegradable packaging products and implemented advanced waste treatment technologies [14][19].

| 上海顺灏新材料科技股份有限公司 | 证券简称：顺灏股份 | 2025 | 年半年度报告摘要 | | --- | --- | --- | --- | | 证券代码：002565 | | 公告编号：2025-039 | | | 上海顺灏新材料科技股份有限公司 | | | | | 一、重要提示 | | | | | 本半年度报告摘要来自半年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规划，投 | | | | | 资者应当到证监 | | | | | 会指定媒体仔细阅读半年度报告全文。 | | | | | 所有董事均已出席了审议本报告的董事会会议。 | | | | | 非标准审计意见提示 | | | | | □适用 ?不适用 | | | | | 董事会审议的报告期利润分配预案或公积金转增股本预案 | | | | | □适用 ?不适用 | | | | | 公司计划不派发现金红利，不送红股，不以公积金转增股本。 | | | | | 董事会决议通过的本报告期优先股利润分配预案 | | | | | □适用 ?不适用 | | | | | 上海顺灏新材料科技股份有限公司 | | 2025 | 年半年度报 | | 告 ...