股东会议事规则 第一章 总 则 第一条 为规范华西能源工业股份有限公司（以下简称"公司"）行为，保 证股东会依法行使职权，根据《中华人民共和国公司法》、《中华人民共和国证券 法》《上市公司股东会规则》《深圳证券交易所股票上市规则》等法律、法规、规 范性文件和公司章程的规定，制定本规则。 第二条 公司应当严格按照法律、行政法规、公司章程及本规则的相关规定 召开股东会，保证股东能够依法行使权利。 公司董事会应当切实履行职责，认真、按时组织股东会。公司全体董事应当 勤勉尽责，确保股东会正常召开和依法行使职权。 华西能源工业股份有限公司 第四条 股东会分为年度股东会和临时股东会。年度股东会每年召开一次， 应当于上一会计年度结束后的六个月内举行。临时股东会不定期召开，出现公司 章程第五十条规定的应当召开临时股东会的情形时，临时股东会应当在二个月内 召开。 公司在上述期限内不能召开股东会的，应当报告公司所在地的中国证监会派 出机构和深圳证券交易所，说明原因并公告。 第三条 股东会应当在《公司法》和公司章程规定的范围内行使职权。 公司章程第五十条规定召开临时股东会的情形为： （一）董事人数不足《公司法》规定人数或者公司章程 ...

华西能源公司章程 华西能源工业股份有限公司 章 程 二〇二五年八月 华西能源公司章程 目 录 第一章 总则 第二章 经营宗旨和范围 第三章 股份 第四章 股东和股东会 第五章 董事和董事会 第六章 高级管理人员 第七章 财务会计制度、利润分配和审计 第八章 通知与公告 第九章 合并、分立、增资、减资、解散和清算 第一节 合并、分立、增资和减资 第二节 解散和清算 第十章 修改章程 第十一章 附则 第一节 股份发行 第二节 股份增减和回购 第三节 股份转让 第一节 股东的一般规定 第二节 控股股东和实际控制人 第三节 股东会的一般规定 第四节 股东会的召集 第五节 股东会的提案与通知 第六节 股东会的召开 第七节 股东会的表决和决议 第一节 董事的一般规定 第二节 董事会 第三节 独立董事 第二节 董事会专门委员会 第一节 财务会计制度 第二节 内部审计 第三节 会计师事务所的聘任 第一节 通知 第二节 公告 华西能源公司章程 第一章 总则 第八条 代表公司执行公司事务的董事为公司的法定代表人。 担任法定代表人的董事辞任的，视为同时辞去法定代表人。 第一条 为维护公司、股东、职工和债权人的合法权益，规范公司的组 ...

[Important Notice, Table of Contents, and Definitions](index=2&type=section&id=%E7%AC%AC%E4%B8%80%E8%8A%82%20%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA%E3%80%81%E7%9B%AE%E5%BD%95%E5%92%8C%E9%87%8A%E4%B9%89) This section provides an important notice, the structured table of contents, and definitions of key terms used throughout the report [Important Notice](index=2&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) The Board of Directors, Supervisory Board, and senior management guarantee the accuracy and completeness of the semi-annual report, which highlights significant risks including declining market demand, increased competition, bad debt, raw material price volatility, insufficient working capital, and potential delisting risk due to internal control audit issues, with no planned interim dividend distribution - The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report, free from false statements, misleading representations, or material omissions[4](index=4&type=chunk) - The company faces risks of declining market demand and intensified competition[4](index=4&type=chunk) - The company may face risks of uncollectible accounts receivable and bad debts[5](index=5&type=chunk) - The company may face risks of declining profits due to fluctuations in major raw material prices[5](index=5&type=chunk) - The company may experience insufficient working capital, potentially affecting the smooth execution of existing orders[6](index=6&type=chunk) - Unstarted orders in inventory may face risks of delayed execution or cancellation; ongoing orders may face risks of project suspension, delayed execution, or termination[6](index=6&type=chunk) - The company's stock has been subject to "other risk warnings" since April 30, 2025, and will face delisting risk warnings if the 2025 internal control audit results in a disclaimer or adverse opinion[7](index=7&type=chunk) - The company plans no cash dividends, bonus shares, or capital reserve conversions to share capital for the semi-annual period[8](index=8&type=chunk) [Table of Contents](index=4&type=section&id=%E7%9B%AE%E5%BD%95) This section presents the structured table of contents for the semi-annual report, outlining its nine main chapters and their respective starting page numbers [Reference Documents](index=5&type=section&id=%E5%A4%87%E6%9F%A5%E6%96%87%E4%BB%B6%E7%9B%AE%E5%BD%95) This section lists the reference documents for the company's semi-annual report, including signed financial statements and original drafts of all publicly disclosed company documents - Financial statements bearing the signatures and seals of the company's legal representative, chief financial officer, and head of accounting department[12](index=12&type=chunk) - Original copies of all company documents and announcements publicly disclosed during the reporting period on China Securities Journal, Shanghai Securities News, Securities Times, Securities Daily, and Juchao Information Network[12](index=12&type=chunk) [Definitions](index=6&type=section&id=%E9%87%8A%E4%B9%89) This section defines key terms and abbreviations used in the report, covering company names, subsidiaries, legal regulations, accounting firms, various boiler types (e.g., alkali recovery, biomass, waste-to-energy), and engineering models (e.g., EPC, PPP) - Huaxi Energy, the Company, or the Company refers to Huaxi Energy Industry Co, Ltd[14](index=14&type=chunk) - The reporting period refers to January 1, 2025, to June 30, 2025[15](index=15&type=chunk) - Definitions include various boiler types such as alkali recovery boilers, biomass boilers, waste-to-energy boilers, and blast furnace gas boilers[14](index=14&type=chunk) - Definitions include engineering, procurement, and construction (EPC), Build-Operate-Transfer (BOT) concession, and Public-Private Partnership (PPP) project models[14](index=14&type=chunk)[15](index=15&type=chunk) [Company Profile and Key Financial Indicators](index=8&type=section&id=%E7%AC%AC%E4%BA%8C%E8%8A%82%20%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B%E5%92%8C%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) This section provides an overview of the company's basic information and presents its key accounting data and financial performance for the reporting period [Company Profile](index=8&type=section&id=%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B) This section provides the company's basic information, including its stock ticker "ST Huaxi", stock code 002630, listing exchange (Shenzhen Stock Exchange), legal representative Huang Youquan, and contact details Company Basic Information | Indicator | Content | | :--- | :--- | | Stock Abbreviation | ST Huaxi | | Stock Code | 002630 | | Stock Exchange | Shenzhen Stock Exchange | | Company's Chinese Name | Huaxi Energy Industry Co, Ltd | | Company's Legal Representative | Huang Youquan | - The company's contact information remained unchanged during the reporting period and can be found in the 2024 annual report[19](index=19&type=chunk) [Key Accounting Data and Financial Indicators](index=9&type=section&id=%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) This section presents the company's key accounting data and financial indicators for the first half of 2025, showing a significant year-over-year decrease in operating revenue and net profit attributable to shareholders, but a substantial increase in net cash flow from operating activities, alongside changes in total assets and net assets attributable to shareholders Key Accounting Data and Financial Indicators for H1 2025 | Indicator | Current Period | Prior Year Period | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue (CNY) | 1,022,138,825.65 | 1,483,006,034.82 | -31.08% | | Net Profit Attributable to Shareholders (CNY) | 36,172,228.45 | 62,107,392.95 | -41.76% | | Net Cash Flow from Operating Activities (CNY) | 70,530,924.22 | -713,392,587.04 | 109.89% | | Basic Earnings Per Share (CNY/share) | 0.0306 | 0.0526 | -41.83% | | Diluted Earnings Per Share (CNY/share) | 0.0306 | 0.0526 | -41.83% | | Weighted Average Return on Net Assets | 16.55% | 7.87% | 8.68% | Key Accounting Data and Financial Indicators as of H1 2025 End | Indicator | End of Current Period | End of Prior Year | Change from Prior Year End | | :--- | :--- | :--- | :--- | | Total Assets (CNY) | 9,204,242,222.03 | 9,629,197,683.24 | -4.41% | | Net Assets Attributable to Shareholders (CNY) | 248,854,165.63 | 200,427,311.34 | 24.16% | [Non-Recurring Gains and Losses and Amounts](index=9&type=section&id=%E9%9D%9E%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%8F%8A%E9%87%91%E9%A2%9D) This section details the company's non-recurring gains and losses for the reporting period, totaling **CNY 2.10 million**, primarily comprising government subsidies, debt restructuring gains, and fair value changes, after accounting for non-current asset disposal losses, income tax effects, and minority interest impacts Non-Recurring Gains and Losses for H1 2025 | Item | Amount (CNY) | | :--- | :--- | | Non-current asset disposal gains/losses (including reversal of asset impairment provisions) | -20,177.84 | | Government subsidies recognized in current profit/loss (excluding those closely related to normal operations, compliant with national policies, enjoyed by fixed standards, and with a continuous impact on company profit/loss) | 2,596,908.95 | | Fair value changes and disposal gains/losses from financial assets and liabilities held by non-financial enterprises, excluding effective hedge accounting related to normal operations | 81,836.00 | | Debt restructuring gains/losses | 601,460.23 | | Other non-operating income and expenses not listed above | -588,633.65 | | Less: Income tax impact | 552,559.14 | | Minority interest impact (after tax) | 19,085.12 | | **Total** | **2,099,749.43** | [Management Discussion and Analysis](index=11&type=section&id=%E7%AC%AC%E4%B8%89%E8%8A%82%20%E7%AE%A1%E7%90%86%E5%B1%82%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) This section provides an in-depth analysis of the company's operational performance, industry position, core competencies, and financial results, along with identified risks and corresponding countermeasures [Principal Businesses During the Reporting Period](index=11&type=section&id=%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E4%BB%8E%E4%BA%8B%E7%9A%84%E4%B8%BB%E8%A6%81%E4%B8%9A%E5%8A%A1) The company's principal businesses, operating model, and key performance drivers remained largely unchanged, encompassing equipment manufacturing, EPC, and investment operations, focusing on energy-efficient and environmentally friendly boilers, with a "make-to-order" approach and expansion into "Belt and Road" markets, driven by macroeconomic conditions, industrial policies, and technological advantages - During the reporting period, there were no significant changes in the company's principal businesses, operating model, or key performance drivers[29](index=29&type=chunk) - The company's principal businesses include three major segments: equipment manufacturing, engineering, procurement, and construction (EPC), and investment operations[30](index=30&type=chunk) - The company's main products and services include the design, manufacturing, and sales of high-efficiency energy-saving boilers, environmental protection boilers, new energy comprehensive utilization boilers and their配套 products, as well as EPC services[30](index=30&type=chunk) - The company's products are widely used in captive power plants and waste heat/energy utilization in industries such as steel, metallurgy, chemical, and paper, as well as in energy-saving, environmental protection, circular economy, and new energy comprehensive utilization fields like cogeneration and urban waste-to-energy generation[31](index=31&type=chunk) - Companies in the boiler industry typically adopt a "make-to-order" operating model, organizing production and procurement based on signed orders[32](index=32&type=chunk) - While stabilizing the domestic market, the company actively expands into international power equipment markets, especially in "Belt and Road" countries and regions such as Southeast Asia, Central Asia, and Africa[32](index=32&type=chunk) - The power plant boiler complete equipment manufacturing and power plant EPC industry is characterized by being technology-intensive, capital-intensive, and labor-intensive, with high entry barriers[33](index=33&type=chunk) - The company is one of China's research and development manufacturers and export bases for large power plant boilers, large power plant auxiliary equipment, and special boilers, possessing independent R&D and design capabilities, and the ability to mass-produce supercritical complete boiler sets[33](index=33&type=chunk) [Company's Main Operating Performance During the Reporting Period](index=12&type=section&id=%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E4%B8%BB%E8%A6%81%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5) During the reporting period, the company's total operating revenue decreased by **31.08%** to **CNY 1.02 billion**, and net profit attributable to parent company shareholders declined by **41.76%** to **CNY 36.17 million**, primarily due to a shift in order product structure and fewer EPC projects, despite growth in boiler and auxiliary product revenue, while the company focused on core business, expanded into clean energy, and strengthened internal control rectification Key Operating Data for H1 2025 | Indicator | Amount (CNY) | YoY Change | | :--- | :--- | :--- | | Total Operating Revenue | 1,022,138,825.65 | -31.08% | | Operating Profit | 45,665,047.75 | -45.95% | | Total Profit | 45,076,414.10 | -42.09% | | Net Profit Attributable to Parent Company Shareholders | 36,172,228.45 | -41.76% | - During the reporting period, new orders increased, but the product structure of executed orders changed, leading to fewer EPC projects executed and delivered, thus reducing EPC revenue; production input for boilers and auxiliary products increased, leading to more completed deliveries and growth in boiler and auxiliary product revenue[35](index=35&type=chunk) - The company's overall revenue scale decreased, and net profit declined year-on-year[35](index=35&type=chunk) - The company closely adhered to annual operating targets, focused on its core business, actively expanded into clean energy, energy-saving and environmental protection, renewable energy, and new energy markets; it also strengthened internal control defect rectification and improved internal control system construction[35](index=35&type=chunk) [Industry Development Stage, Cyclical Characteristics, and Company's Industry Position](index=12&type=section&id=%E5%85%AC%E5%8F%B8%E6%89%80%E5%B1%9E%E8%A1%8C%E4%B8%9A%E7%9A%84%E5%8F%91%E5%B1%95%E9%98%B6%E6%AE%B5%E3%80%81%E5%91%A8%E6%9C%9F%E6%80%A7%E7%89%B9%E7%82%B9%E4%BB%A5%E5%8F%8A%E5%85%AC%E5%8F%B8%E6%89%80%E5%A4%84%E7%9A%84%E8%A1%8C%E4%B8%9A%E5%9C%B0%E4%BD%8D) China's energy structure is transitioning from coal-dominated to clean and low-carbon, with non-fossil fuel power generation exceeding **60%** of installed capacity and rapid growth in new energy generation, creating market opportunities for the company's energy-saving and clean energy products amidst fierce competition in the power plant boiler industry, further bolstered by significant investments driven by carbon peak and neutrality goals - China's energy structure has undergone significant changes, with increased installed capacity of clean, renewable, and new energy sources such as hydropower, nuclear power, biomass power, wind power, and solar power, while the proportion of thermal power in total installed capacity shows a downward trend year by year[37](index=37&type=chunk) National Power Supply and Demand Analysis for H1 2025 | Indicator | Data | | :--- | :--- | | National Electricity Consumption | 4.84 trillion kilowatt-hours, up 3.7% YoY | | National Newly Added Power Generation Capacity | 293.32 million kilowatts, up 140.56 million kilowatts YoY | | Total Newly Added Wind and Solar Power Capacity | 263.60 million kilowatts, accounting for nearly 90% (89.9%) of total newly added power generation capacity | | Non-Fossil Fuel Power Generation Capacity | 2.22 billion kilowatts, up 29.8% YoY, accounting for 60.9% of total installed capacity | | Proportion of Total New Energy Generation in Total Electricity Generation | 26.0%, up 4.4 percentage points YoY | - It is estimated that national newly added power generation capacity will exceed **500 million kilowatts** in 2025, with new energy power generation capacity reaching approximately **400 million kilowatts**, and non-fossil fuel power generation capacity accounting for around **61%** of the total[43](index=43&type=chunk) - Domestically, over **20 enterprises** possess the qualifications and scaled production capacity for complete power plant boiler manufacturing, forming three tiers, indicating a relatively competitive market[44](index=44&type=chunk) - Large and medium-sized boiler manufacturers like Huaxi Energy and Huaguang Huaneng primarily provide complete power plant boiler equipment below **600MW** for corporate captive power plants and local power generation enterprises, as well as special boilers such as circulating fluidized bed boilers, waste-to-energy boilers, waste heat boilers, biomass power generation, and alkali recovery boilers[44](index=44&type=chunk) - In 2024, China's power plant boiler output was **87.485 million kilowatts**, an increase of **31.8%** year-on-year, with supercritical and ultra-supercritical boilers accounting for **75.6%**[45](index=45&type=chunk) - The implementation of the "Boiler Green, Low-Carbon, High-Quality Development Action Plan" is beneficial for the market development of the company's leading products, such as energy-saving and environmental protection, clean energy, and high-parameter power plant boilers[47](index=47&type=chunk) - China aims to peak carbon dioxide emissions before 2030 and strive for carbon neutrality before 2060, requiring approximately **CNY 138 trillion** in new energy system investments, providing vast development space for the company[48](index=48&type=chunk)[51](index=51&type=chunk) [Core Competitiveness Analysis](index=16&type=section&id=%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) The company's core competitiveness remained stable, characterized by an excellent professional team across R&D, design, production, management, and sales; stable product quality and comprehensive series with a strong brand and industry-leading position in clean combustion, biomass utilization, solid waste treatment, and circular economy; and leading technological development capabilities through "industry-university-research" collaboration, holding **312 patents** and multiple scientific awards - The company possesses an excellent professional talent team covering various fields such as R&D, design, production, management, and sales, with a senior management team having deep industry backgrounds and an R&D team comprising multiple technical experts[54](index=54&type=chunk)[55](index=55&type=chunk) - The company's products boast stable quality, comprehensive series, and complete product grades, establishing a strong brand image in the market[57](index=57&type=chunk) - The company possesses independent R&D and design capabilities, and the ability to mass-produce supercritical complete boiler sets, making it one of the few domestic enterprises with such capabilities[57](index=57&type=chunk) - In the field of biomass and new energy utilization, the company's independently developed biomass boilers have wide fuel adaptability, have obtained national invention patents, and have successfully commissioned multiple large-scale biomass fuel boiler projects[57](index=57&type=chunk) - In the "waste-to-resource" domain, the company successfully operates the largest urban waste incineration power generation project in China and has developed blast furnace gas boilers, achieving resource utilization, reduction, and harmless treatment[58](index=58&type=chunk)[59](index=59&type=chunk) - In the circular economy sector, the company's designed and manufactured alkali recovery boilers and oil sludge boilers are widely used, contributing to black liquor recycling in the paper industry and oil sludge treatment in petrochemical systems[59](index=59&type=chunk)[60](index=60&type=chunk) - The company adopts an "industry-university-research" transformation model, collaborating with research institutions and universities such as the Chinese Academy of Sciences and Tsinghua University, with its technology center recognized as a national-level enterprise technology center[61](index=61&type=chunk) - As of the end of the reporting period, the company holds a total of **312 invention patents** and utility model patents, including biomass fuel boilers and new water-cooled grates[61](index=61&type=chunk) - The company continuously promotes technological and management innovation, has established a relatively complete incentive mechanism, and has received numerous honorary titles such as National High-Tech Enterprise and National "May 1st" Labor Medal[64](index=64&type=chunk) [Analysis of Principal Business](index=19&type=section&id=%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) This section details the company's principal business financial performance, showing a **31.08%** year-over-year decrease in operating revenue, primarily due to a **50.28%** reduction in EPC project revenue, despite a **72.67%** increase in boiler and auxiliary product revenue, while net cash flow from operating activities significantly improved by **109.89%**, investment income sharply declined due to prior-period bank equity transfer, and international business revenue was zero YoY Changes in Key Financial Data | Indicator | Current Period (CNY) | Prior Year Period (CNY) | YoY Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 1,022,138,825.65 | 1,483,006,034.82 | -31.08% | Product structure of executed orders changed, with a decrease in EPC projects and an increase in boilers and auxiliary products, but overall scale decreased | | Operating Cost | 798,513,717.82 | 1,198,275,943.31 | -33.36% | Production input for executed EPC projects decreased, leading to a corresponding reduction in costs | | Selling Expenses | 10,167,234.35 | 9,055,260.34 | 12.28% | | | Administrative Expenses | 73,789,355.89 | 81,401,025.43 | -9.35% | | | Financial Expenses | 121,125,105.23 | 133,754,009.83 | -9.44% | | | Income Tax Expense | 9,955,545.95 | 24,334,869.74 | -59.09% | Realized profit decreased year-on-year during the reporting period | | R&D Investment | 18,807,739.65 | 15,984,737.87 | 17.66% | | | Net Cash Flow from Operating Activities | 70,530,924.22 | -713,392,587.04 | 109.89% | Increased efforts in collecting new and old accounts receivable during the reporting period led to a significant year-on-year increase in cash collection | | Net Cash Flow from Investing Activities | 665,128.22 | 855,369,080.73 | -99.92% | Large amount of equity transfer proceeds received in the prior period due to the completion of bank equity transfer | | Net Cash Flow from Financing Activities | -44,299,904.24 | -175,442,405.23 | 74.75% | Increased cash received from borrowings in the current period | | Net Increase in Cash and Cash Equivalents | 26,896,148.20 | -33,464,318.09 | 180.37% | | | Investment Income (Losses indicated by "-") | 10,770,858.19 | 57,692,456.07 | -81.33% | Large investment income obtained in the prior period due to the completion of bank equity transfer | | Credit Impairment Losses (Losses indicated by "-") | 582,832.64 | -14,883,932.43 | 103.92% | Increased collection of accounts receivable from previous reporting periods in the current period | | Asset Impairment Losses (Losses indicated by "-") | 43,304,882.14 | 5,236,702.10 | 726.95% | Improved collection of accounts receivable during the reporting period, with a year-on-year increase in cash collection | | Non-Operating Income | 214,053.00 | 3,256,969.94 | -93.43% | Decreased year-on-year in received liquidated damages and other income | | Non-Operating Expenses | 802,686.65 | 10,097,744.18 | -92.05% | Decreased year-on-year in paid compensation and other expenses | Operating Revenue Composition (by Product) | Product | Current Period Amount (CNY) | % of Operating Revenue | Prior Year Period Amount (CNY) | % of Operating Revenue | YoY Change | | :--- | :--- | :--- | :--- | :--- | :--- | | EPC Projects | 646,105,931.85 | 63.21% | 1,299,414,924.99 | 87.62% | -50.28% | | Boilers and Auxiliary Products | 260,682,033.90 | 25.50% | 150,969,439.35 | 10.18% | 72.67% | | Trading | 8,602,628.66 | 0.84% | 103,048.81 | 0.01% | 8248.11% | | Other Businesses | 106,748,231.24 | 10.44% | 32,518,621.67 | 2.19% | 228.27% | Operating Revenue Composition (by Region) | Region | Current Period Amount (CNY) | % of Operating Revenue | Prior Year Period Amount (CNY) | % of Operating Revenue | YoY Change | | :--- | :--- | :--- | :--- | :--- | :--- | | Domestic Region | 1,022,138,825.65 | 100.00% | 1,466,410,935.29 | 98.88% | -30.30% | | International Region | 0.00 | 0.00% | 16,595,099.53 | 1.12% | -100.00% | - During the reporting period, the product structure of executed orders changed, with fewer EPC projects executed and delivered, leading to a decrease in EPC project revenue; production input for boilers and auxiliary products increased, leading to more completed deliveries and growth in boiler and auxiliary product revenue, but the company's overall revenue scale decreased[71](index=71&type=chunk) - The Laos Nanpan Supercritical Clean Energy Power Plant project was suspended due to power plant scheme adjustments, and the company is actively cooperating with the client to adjust the project scheme[72](index=72&type=chunk) [Analysis of Non-Principal Business](index=21&type=section&id=%E9%9D%9E%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) This section analyzes the impact of non-principal businesses on total profit, where investment income, primarily from equity method accounting of long-term equity investments, constituted **23.89%** of total profit but lacks sustainability, and asset impairment, accounting for **96.07%** of total profit, resulted from increased collection efforts for old receivables leading to impairment reversals, also with uncertain sustainability Non-Principal Business Analysis for H1 2025 | Item | Amount (CNY) | % of Total Profit | Explanation of Formation | Is it Sustainable | | :--- | :--- | :--- | :--- | :--- | | Investment Income | 10,770,858.19 | 23.89% | Investment income obtained from long-term equity investments accounted for by the equity method | No, Occurrence is uncertain | | Fair Value Change Gains/Losses | 81,836.00 | 0.18% | Financial assets measured at fair value | No | | Asset Impairment | 43,304,882.14 | 96.07% | Provision for impairment of accounts receivable, other receivables, etc., according to enterprise accounting standards and policies | No, Accrued periodically, occurrence is uncertain | | Non-Operating Income | 214,053.00 | 0.47% | Primarily liquidated damages and other non-operating income | No, Occurrence is uncertain | | Non-Operating Expenses | 802,686.65 | 1.78% | Primarily compensation and other non-operating expenses | No, Occurrence is uncertain | - During the reporting period, the proportion of asset impairment to total profit was relatively high, mainly because the company intensified collection efforts for receivables for which impairment had been provided in previous years, leading to a year-on-year increase in old account collections and a corresponding reversal of asset impairment[74](index=74&type=chunk) [Analysis of Assets and Liabilities](index=21&type=section&id=%E8%B5%84%E4%BA%A7%E5%8F%8A%E8%B4%9F%E5%80%BA%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) This section analyzes the composition and significant changes in the company's assets and liabilities, noting a **4.41%** year-over-year decrease in total assets, a **150.43%** surge in total current liabilities due to reclassification of long-term borrowings, and **CNY 1.27 billion** in restricted assets including cash, fixed assets, intangible assets, trading financial assets, and other equity investments Significant Changes in Asset Composition | Item | Amount at End of Current Period (CNY) | % of Total Assets | Amount at End of Prior Year (CNY) | % of Total Assets | % Change | Explanation of Significant Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Total Assets | 9,204,242,222.03 | 100% | 9,629,197,683.24 | 100% | -4.41% | | | Contract Assets | 2,288,386,248.52 | 24.86% | 2,695,672,303.53 | 27.99% | -3.13% | | | Non-Current Liabilities Due Within One Year | 3,410,027,008.46 | 37.05% | 1,361,677,504.52 | 14.14% | 22.91% | Part of long-term borrowings reclassified to "Non-current liabilities due within one year" | | Long-Term Borrowings | 1,508,700,000.00 | 16.39% | 3,450,321,934.22 | 35.83% | -19.44% | Part of long-term borrowings reclassified to "Non-current liabilities due within one year" | Asset Restrictions as of End of Reporting Period | Item | Book Balance at Period End (CNY) | Book Value at Period End (CNY) | Type of Restriction | Restriction Details | | :--- | :--- | :--- | :--- | :--- | | Cash and Bank Balances | 135,024,040.78 | 135,024,040.78 | Guarantees, freezing, etc. | Letter of guarantee deposits, frozen funds due to litigation, time deposits or notice deposits for guarantees, special purpose accounts, bank acceptance bill deposits | | Fixed Assets | 943,084,518.67 | 668,117,603.38 | Mortgages, seizures | Mortgage loans, court seizures | | Intangible Assets | 88,421,537.22 | 62,690,070.95 | Mortgages, seizures | Mortgage loans, court seizures | | Trading Financial Assets | 3,261,164.60 | 3,261,164.60 | Freezing | Court freezing | | Other Equity Instruments Investment | 100,531,356.80 | 100,531,356.80 | Freezing | Court freezing | | **Total** | **1,270,322,618.07** | **969,624,236.51** | | | [Investment Analysis](index=23&type=section&id=%E6%8A%95%E8%B5%84%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) This section outlines the company's investment activities, noting zero investment during the reporting period, a **100%** year-over-year decrease, primarily due to the prior-period significant asset sale of Zigong Bank equity, with no major equity, non-equity, securities, or derivative investments occurring in the current period Investment Amount During the Reporting Period | Indicator | Current Period (CNY) | Prior Year Period (CNY) | Change Rate | | :--- | :--- | :--- | :--- | | Investment Amount During the Reporting Period | 0.00 | -494,626,120.00 | -100.00% | - There were no changes in the company's external investments during the reporting period; in the same period of 2024, long-term investments decreased due to the completion of a significant asset sale involving the transfer of Zigong Bank equity[82](index=82&type=chunk) - The company had no securities investments during the reporting period[83](index=83&type=chunk) - The company had no derivative investments during the reporting period[84](index=84&type=chunk) [Significant Asset and Equity Disposals](index=23&type=section&id=%E9%87%8D%E5%A4%A7%E8%B5%84%E4%BA%A7%E5%92%8C%E8%82%A1%E6%9D%83%E5%87%BA%E5%94%AE) This section confirms that the company did not undertake any significant asset or equity disposals during the reporting period - The company did not dispose of any significant assets during the reporting period[86](index=86&type=chunk) - The company did not dispose of any significant equity during the reporting period[87](index=87&type=chunk) [Analysis of Major Holding and Associate Companies](index=24&type=section&id=%E4%B8%BB%E8%A6%81%E6%8E%A7%E8%82%A1%E5%8F%82%E8%82%A1%E5%85%AC%E5%8F%B8%E5%88%86%E6%9E%90) This section presents the financial information of the company's major holding and associate companies, noting that Huaxi Energy Engineering Co, Ltd, Huaxi Energy Zhangye Biomass Power Generation Co, Ltd, and Zigong Huaxi Energy Industry Co, Ltd all reported net losses during the reporting period Major Subsidiaries and Associate Companies with Over 10% Impact on Company's Net Profit | Company Name | Company Type | Principal Business | Registered Capital (CNY) | Total Assets (CNY) | Net Assets (CNY) | Operating Revenue (CNY) | Operating Profit (CNY) | Net Profit (CNY) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Huaxi Energy Engineering Co, Ltd | Subsidiary | EPC, external contracting, etc. | 200,000,000.00 | 1,614,670,662.25 | 110,308,878.52 | 57,047,109.13 | -16,092,680.88 | -13,984,479.29 | | Huaxi Energy Zhangye Biomass Power Generation Co, Ltd | Subsidiary | Biomass power generation and waste incineration power generation | 295,600,000.00 | 300,294,713.90 | 149,043,481.91 | 18,082,263.27 | -498,793.56 | -533,646.69 | | Zigong Huaxi Energy Industry Co, Ltd | Subsidiary | Design, manufacturing, and sales of boiler mainframes, auxiliary machines, power station system pressure parts and auxiliary products, pressure vessels, etc. | 300,000,000.00 | 482,005,208.55 | 309,006,856.68 | 127,092,975.70 | -5,109,538.60 | -4,854,200.47 | [Risks Faced by the Company and Countermeasures](index=24&type=section&id=%E5%85%AC%E5%8F%B8%E9%9D%A2%E4%B8%B4%E7%9A%84%E9%A3%8E%E9%99%A9%E5%92%8C%E5%BA%94%E5%AF%B9%E6%8E%AA%E6%96%BD) This section details six major risks faced by the company, including declining market demand, bad debt, raw material price volatility, insufficient working capital, unfulfilled orders, and potential delisting risk due to a disclaimer of opinion on the 2024 internal control audit, along with specific countermeasures such as market expansion, enhanced collection, optimized procurement, active financing, improved communication, and internal control rectification - Risk 1: Declining market demand and intensified competition. Countermeasures: Increase market development, strengthen talent pool, optimize design, reduce costs to enhance product market competitiveness; improve process technology and equipment levels and product quality; enhance service quality and brand influence[90](index=90&type=chunk) - Risk 2: Occurrence of uncollectible accounts receivable and bad debts. Countermeasures: Fully accrue impairment provisions based on industry characteristics and accounting standards; strengthen process control, continuously improve product quality, ensure on-time delivery, and guarantee timely collection of payments[91](index=91&type=chunk) - Risk 3: Raw material price fluctuations. Countermeasures: Continuously monitor raw material price fluctuations, procure raw materials at the lowest possible prices; adopt bulk purchasing strategies to enhance bargaining power; implement timely procurement and price constraint clauses for subcontracted components[92](index=92&type=chunk) - Risk 4: Insufficient working capital. Countermeasures: Based on order signing, actively take effective measures to address funding needs for major order projects through self-owned funds, direct bank financing, capital market financing, and cooperation with third parties[92](index=92&type=chunk) - Risk 5: Inability to execute inventory orders as expected. Countermeasures: Maintain active and close communication with project owners and investors, promptly monitor the socio-economic environment of project locations, and negotiate response plans based on environmental changes; control progress in design, production, and procurement to reduce the risk of orders not being executed as expected[93](index=93&type=chunk) - Risk 6: Potential delisting risk warning for stock trading. Countermeasures: Review each item in the internal control audit report, analyze reasons for deviations, formulate and implement rectification plans item by item, focusing on a comprehensive review of six key internal control areas: cash management, sales revenue recognition, accounts receivable, procurement and payments, related party transactions, and work-in-progress[93](index=93&type=chunk)[94](index=94&type=chunk) [Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan](index=25&type=section&id=%E5%B8%82%E5%80%BC%E7%AE%A1%E7%90%86%E5%88%B6%E5%BA%A6%E5%92%8C%E4%BC%B0%E5%80%BC%E6%8F%90%E5%8D%87%E8%AE%A1%E5%88%92%E7%9A%84%E5%88%B6%E5%AE%9A%E8%90%BD%E5%AE%9E%E6%83%85%E5%86%B5) This section states that the company neither formulated a market value management system nor disclosed a valuation enhancement plan during the reporting period - The company has not formulated a market value management system[95](index=95&type=chunk) - The company has not disclosed a valuation enhancement plan[95](index=95&type=chunk) [Implementation of "Dual Improvement in Quality and Returns" Action Plan](index=26&type=section&id=%E2%80%9C%E8%B4%A8%E9%87%8F%E5%9B%9E%E6%8A%A5%E5%8F%8C%E6%8F%90%E5%8D%87%E2%80%9D%E8%A1%8C%E5%8A%A8%E6%96%B9%E6%A1%88%E8%B4%AF%E5%BD%BB%E8%90%BD%E5%AE%9E%E6%83%85%E5%86%B5) This section indicates that the company did not disclose an announcement regarding the "Dual Improvement in Quality and Returns" action plan during the reporting period - The company has not disclosed an announcement regarding the "Dual Improvement in Quality and Returns" action plan[96](index=96&type=chunk) [Corporate Governance, Environment, and Society](index=27&type=section&id=%E7%AC%AC%E5%9B%9B%E8%8A%82%20%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86%E3%80%81%E7%8E%AF%E5%A2%83%E5%92%8C%E7%A4%BE%E4%BC%9A) This section details changes in the company's governance, including personnel, profit distribution, and incentive plans, along with its environmental information disclosure and social responsibility initiatives [Changes in Directors, Supervisors, and Senior Management](index=27&type=section&id=%E5%85%AC%E5%8F%B8%E8%91%A3%E4%BA%8B%E3%80%81%E7%9B%91%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) This section details changes in the company's directors, supervisors, and senior management during the reporting period, including Ying Shenlin's appointment as Vice President, former Chairman Li Renchao's resignation, Huang Youquan's election as Chairman and appointment as President, and Meng Haitao's resignation as Board Secretary while retaining other senior roles - Ying Shenlin was appointed Vice President on January 13, 2025[98](index=98&type=chunk) - Li Renchao resigned from his positions as company director, chairman, and president on May 17, 2025, due to personal reasons[98](index=98&type=chunk) - Huang Youquan was elected as Chairman and appointed as President on May 19, 2025[98](index=98&type=chunk) - Meng Haitao resigned from his position as Board Secretary on July 28, 2025, due to personal reasons, but continues to serve as a company director, vice president, and chief financial officer[98](index=98&type=chunk) [Profit Distribution and Capital Reserve Conversion to Share Capital for the Reporting Period](index=27&type=section&id=%E6%9C%AC%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%88%A9%E6%B6%A6%E5%88%86%E9%85%8D%E5%8F%8A%E8%B5%84%E6%9C%AC%E5%85%AC%E7%A7%AF%E9%87%91%E8%BD%AC%E5%A2%9E%E8%82%A1%E6%9C%AC%E6%83%85%E5%86%B5) This section states that the company plans no cash dividends, bonus shares, or capital reserve conversions to share capital for the semi-annual period - The company plans no cash dividends, bonus shares, or capital reserve conversions to share capital for the semi-annual period[99](index=99&type=chunk) [Implementation of Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=27&type=section&id=%E5%85%AC%E5%8F%B8%E8%82%A1%E6%9D%83%E6%BF%80%E5%8A%B1%E8%AE%A1%E5%88%92%E3%80%81%E5%91%98%E5%B7%A5%E6%8C%81%E8%82%A1%E8%AE%A1%E5%88%92%E6%88%96%E5%85%B6%E4%BB%96%E5%91%98%E5%B7%A5%E6%BF%80%E5%8A%B1%E6%8E%AA%E6%96%BD%E7%9A%84%E5%AE%9E%E6%96%BD%E6%83%85%E5%86%B5) This section confirms that the company did not implement any equity incentive plans, employee stock ownership plans, or other employee incentive measures during the reporting period - The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures and their implementation during the reporting period[100](index=100&type=chunk) [Environmental Information Disclosure](index=27&type=section&id=%E7%8E%AF%E5%A2%83%E4%BF%A1%E6%81%AF%E6%8A%AB%E9%9C%B2%E6%83%85%E5%86%B5) This section indicates that among the company and its major subsidiaries, Huaxi Energy Zhangye Biomass Power Generation Co, Ltd is included in the list of enterprises required to disclose environmental information by law Number of Enterprises Included in the List of Enterprises Required to Disclose Environmental Information by Law | Indicator | Quantity (Units) | | :--- | :--- | | Number of enterprises included in the list of enterprises required to disclose environmental information by law | 1 | - Huaxi Energy Zhangye Biomass Power Generation Co, Ltd is included in the list of enterprises required to disclose environmental information by law[101](index=101&type=chunk) [Social Responsibility](index=27&type=section&id=%E7%A4%BE%E4%BC%9A%E8%B4%A3%E4%BB%BB%E6%83%85%E5%86%B5) The company is committed to providing energy-saving and environmentally friendly energy system solutions and actively fulfills its social responsibilities, including protecting shareholder and investor rights through improved governance and timely disclosure, safeguarding employee rights by adhering to labor laws and providing training, ensuring supplier and customer rights through integrity and quality, promoting environmental protection and sustainable development through energy conservation and pollution control, and actively participating in public welfare activities such as charitable donations and poverty alleviation - The company is dedicated to providing diversified energy system solutions, striving to develop and continuously offer more efficient, energy-saving, cleaner, and environmentally friendly energy power equipment, energy conversion technologies, and system integration solutions, aiming to achieve the corporate vision of "clearer waters, bluer skies, and a better life for people"[102](index=102&type=chunk) - The company strictly adheres to the requirements of laws and regulations such as the Company Law and Securities Law, continuously improves its corporate governance structure, establishes and perfects its internal control system, standardizes company operations, diligently and timely fulfills information disclosure obligations, and protects the legitimate rights and interests of shareholders[102](index=102&type=chunk) - The company values investor relations management, designates a specialized investor relations management body, strengthens communication with investors, and fully ensures investors' right to know[103](index=103&type=chunk) - The company strictly complies with labor laws and regulations such as the Labor Law and Labor Contract Law, legally signs labor contracts with employees, protects their legitimate rights and interests, handles social insurance and housing provident funds, and provides a healthy and safe working and living environment[103](index=103&type=chunk) - The company places great emphasis on safety production training for frontline employees, regularly and irregularly organizing safety production training, fire safety knowledge training, and emergency drills[104](index=104&type=chunk) - The company continuously enhances employees' professional quality through various forms of knowledge and skill training, qualification certification training, including internal company training and inviting external experts[104](index=104&type=chunk) - The company regards "honesty and trustworthiness" as the foundation of its development, establishing collaborative and win-win strategic partnerships with customers and suppliers, and enhancing product and service quality by implementing strict quality standards[105](index=105&type=chunk) - The company prioritizes environmental protection in production, consistently focusing on safety and environmental work during the production process, strictly controlling pollution, and ensuring pollutant and noise emissions strictly comply with national environmental control standards[106](index=106&type=chunk) - The company actively participates in public welfare activities such as charitable fundraising, youth volunteer services, social assistance, poverty alleviation, and community building, having cumulatively donated over **CNY 100,000** to the Next Generation Foundation and **CNY 150,000** to the Zigong Charity Federation through the company and its subsidiaries[106](index=106&type=chunk) - The company actively participates in public welfare activities, having successively donated urgently needed supplies such as N95 masks, surgical masks, disposable medical masks, and disinfectants, totaling approximately **CNY 2 million** in value, to organizations including the Zigong Red Cross in Sichuan, Guang'an in Sichuan, and Wangqing County in Yanbian, Jilin, during special periods[107](index=107&type=chunk) [Significant Matters](index=30&type=section&id=%E7%AC%AC%E4%BA%94%E8%8A%82%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) This section covers the company's commitments, related party transactions, litigation, penalties, and other significant events during the reporting period [Commitments](index=30&type=section&id=%E6%89%BF%E8%AF%BA%E4%BA%8B%E9%A1%B

Group 1 - The core viewpoint of the article highlights a significant decline in the production of industrial boilers in China, with a projected decrease of 15.6% year-on-year in June 2025 [1] - According to the National Bureau of Statistics, the cumulative production of industrial boilers in China for the first half of 2025 is reported at 88,000 tons of evaporation, reflecting a decline of 11.6% [1] - The article mentions several listed companies in the industrial boiler sector, including Huaguang Huaneng (600475), Chuanrun Co., Ltd. (002272), Hailu Heavy Industry (002255), Huaxi Energy (002630), and Dongfang Electric (600875) [1] Group 2 - The report referenced is the "2025-2031 China Industrial Boiler Industry Market Special Research and Development Strategy Analysis Report" published by Zhiyan Consulting [1] - Zhiyan Consulting is recognized as a leading industry consulting firm in China, specializing in in-depth industry research reports, business plans, feasibility studies, and customized services [2] - The data used in the analysis is sourced from the National Bureau of Statistics and organized by Zhiyan Consulting [3]

Market Overview - The Shanghai Composite Index is at 3701.99 points, with a change of +0.50% [1] - The total trading volume of A-shares is 103.51 billion yuan [1] Technical Analysis - 96 A-shares have seen their 5-day moving average cross below the 10-day moving average [1] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - Dengyun Co., Ltd. (002715) with a distance of -1.02% [1] - United Chemical (301209) with a distance of -0.93% [1] - Guangsheng Nonferrous (600259) with a distance of -0.79% [1] Individual Stock Performance - Dengyun Co., Ltd. (002715) has decreased by 2.88% with a latest price of 16.87 yuan [1] - United Chemical (301209) has decreased by 0.17% with a latest price of 92.78 yuan [1] - Guangsheng Nonferrous (600259) has decreased by 0.81% with a latest price of 58.82 yuan [1] - Other notable stocks with declines include: - Guoneng Rixin (301162) down 2.29% [1] - Daqian Energy (688303) down 2.44% [1] - Yijiahe (603666) down 0.43% [1] Additional Stock Data - Stocks with minor declines include: - Ningbo Bank (002142) up 0.25% with a latest price of 28.25 yuan [2] - Huayang New Materials (600281) down 0.59% with a latest price of 6.75 yuan [2] - The overall trend indicates a cautious market sentiment with several stocks experiencing downward pressure [1][2]

ST华西（002630.SZ）8月12日在投资者互动平台表示，公司与中国能建签订战略合作框架协议，主要 合作意向方向包括新能源、环保产业、国际国内清洁能源项目等。 每经AI快讯，有投资者在投资者互动平台提问：请问公司与中国能建签署合作协议主要是哪些领域， 是能建从公司采购设备还是业务分包合作？ （记者 谭玉涵） ...

Group 1 - ST Huaxi announced the resignation of its board secretary, Meng Haitao, due to personal reasons, effective upon delivery of the written report to the board [1] - Meng Haitao will continue to serve as a director, vice president, and chief financial officer of the company [1] - For the year 2024, ST Huaxi's revenue composition shows that the boiler manufacturing industry accounts for 97.55% of total revenue, while other business revenues account for 2.45% [1] Group 2 - As of the report, ST Huaxi has a market capitalization of 3.1 billion yuan [1]

7月28日晚间，ST华西（002630）(原证券简称华西能源，SZ002630，股价2.57元，市值30.35亿元)发布 公告称，公司董事会于当日收到董秘孟海涛的书面辞职报告。孟海涛因个人原因辞去所担任的公司董秘 职务，辞职后，孟海涛仍将继续在公司担任董事、副总裁、财务总监等职务。董事会秘书空缺期间，由 公司董事长黄有全代行董事会秘书职责。 华西能源公告称，孟海涛未持有公司股份，不涉及股份锁定承诺事项。7月28日晚间，孟海涛对《每日 经济新闻》记者表示，此次辞去董秘职务是因为此前其遭到了深交所的公开谴责处分。 公司近年连续亏损 过去数年来，华西能源连年亏损。2020年~2024年，公司归母净利润分别为-4.66亿元、-6.82亿元、-7.57 亿元、-1.93亿元和-3.48亿元，五年累计亏损金额约24.46亿元。而2023年和2024年，公司营收还分别实 现了117.30%和38.91%的增长，即便如此，公司仍未走出亏损泥潭。 6月30日，深交所发布关于对华西能源及相关当事人给予公开谴责处分的决定。华西能源所涉主要违规 事项，便是2024年度业绩预告与经审计净利润存在重大差异，盈亏性质发生变化。 《每日经济 ...

Group 1 - ST Huaxi announced the resignation of Secretary of the Board Meng Haitao due to personal reasons, while he will continue to serve as a director, vice president, and CFO [1] - Meng Haitao's resignation follows a public reprimand from the Shenzhen Stock Exchange due to significant discrepancies between the company's 2024 profit forecast and the audited net profit [4][5] - The company has faced continuous losses over the past years, with cumulative losses of approximately 2.446 billion from 2020 to 2024, despite revenue growth in 2023 and 2024 [2] Group 2 - The company reported a major revision in its 2024 profit forecast, initially predicting a profit of 35 million but later adjusting it to a loss of 3.81 billion [2] - An internal control audit report issued by Sichuan Huaxin (Group) CPA firm expressed an inability to provide an opinion, leading to risk warnings on the company's stock [3] - The company’s stock faced significant declines, including a trading halt and nine consecutive days of limit-down after the release of the 2024 annual report [3]

证券代码：002630 证券简称：ST 华西 公告编号：2025-051 华西能源工业股份有限公司 关于公司股票交易被实施其他风险警示相关事项的进展及风险提示公告 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。 特别提示： 华西能源工业股份有限公司（以下简称"公司"）2024 年度内部控制审计被四川华 信（集团）会计师事务所（特殊普通合伙）出具了无法表示意见的《2024 年度内部控 制审计报告》。根据《深圳证券交易所股票上市规则》第 9.8.1 条第（四）款的规定， 公司股票自 2025 年 4 月 30 日开市起被实施"其他风险警示"。 根据《深圳证券交易所股票上市规则》9.4.4 条的规定，上市公司出现下列情形之 一的，应当立即披露股票交易可能被实施退市风险警示的风险提示公告：（五）首个 会计年度财务报告内部控制被出具无法表示意见或者否定意见的审计报告，或者未按 照规定披露财务报告内部控制审计报告； ……公司按照本条第一款第五项规定披露风险提示公告后，应当至少每个月披露 一次相关进展情况和风险提示公告，直至相应情形消除或者公司股票交易被本所实施 退市风险警 ...