[Important Notes, 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 important disclaimers, the full table of contents, and definitions of key terms used throughout the report [Important Notes](index=2&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) The Board and management assure the report's accuracy, highlighting key risks and confirming no dividend distribution or capital reserve conversion for the period - The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the report content, free from false records, misleading statements, or major omissions[4](index=4&type=chunk) - The company's head, chief financial officer, and head of accounting department declare the financial report is true, accurate, and complete[4](index=4&type=chunk) - The company's future major risks include M&A integration risk, intensified market competition risk, raw material price fluctuation risk, human resource risk, and exchange rate fluctuation risk[4](index=4&type=chunk) - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital[5](index=5&type=chunk) [Table of Contents](index=3&type=section&id=%E7%9B%AE%E5%BD%95) This section presents the report's complete nine-chapter structure, detailing company operations, financials, governance, and risks - The report is divided into nine main chapters, covering various aspects such as company operations, financials, governance, and risks[7](index=7&type=chunk) [Definitions](index=5&type=section&id=%E9%87%8A%E4%B9%89) This section defines key terms and entities, including company names, subsidiaries, and the reporting period, to ensure clarity throughout the report - In the report, "Company," "the Company," and "Huahong Technology" all refer to Jiangsu Huahong Technology Co., Ltd[13](index=13&type=chunk) - "Reporting Period" refers to January 1, 2025, to June 30, 2025[13](index=13&type=chunk) - Lists abbreviations for several major subsidiaries and related parties, including Wellman, Xintai Technology, and Zhejiang Zhonghang[13](index=13&type=chunk) [Company Profile and Key Financial Indicators](index=6&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 profile, contact information, and a summary of its key financial data and performance indicators [Company Profile](index=6&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B) Jiangsu Huahong Technology Co., Ltd. (stock code: 002645) is listed on the Shenzhen Stock Exchange, with Hu Pinxian as its legal representative - The company's stock abbreviation is "Huahong Technology," stock code "002645," listed on the Shenzhen Stock Exchange[15](index=15&type=chunk) - The company's legal representative is Hu Pinxian[15](index=15&type=chunk) [Contact Person and Information](index=6&type=section&id=%E4%BA%8C%E3%80%81%E8%81%94%E7%B3%BB%E4%BA%BA%E5%92%8C%E8%81%94%E7%B3%BB%E6%96%B9%E5%BC%8F) The company's Board Secretary is Zhu Dayong, and Securities Affairs Representative is Zhou Chenlei, with contact details provided for their Jiangyin, Jiangsu office - The Board Secretary is Zhu Dayong, and the Securities Affairs Representative is Zhou Chenlei[16](index=16&type=chunk) - The company's contact address is No. 1118 Chengyang Road, Zhouzhuang Town, Jiangyin City, Jiangsu Province[16](index=16&type=chunk) [Other Information](index=6&type=section&id=%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E6%83%85%E5%86%B5) The company's registered address, office, website, email, and disclosure locations remained unchanged during the reporting period - The company's registered address, office address, website, and email remained unchanged during the reporting period[17](index=17&type=chunk) - Information disclosure and filing locations remained unchanged during the reporting period[18](index=18&type=chunk) [Key Accounting Data and Financial Indicators](index=7&type=section&id=%E5%9B%9B%E3%80%81%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) In H1 2025, revenue grew **17.17%**, net profit attributable to shareholders soared **3480.57%**, EPS improved, operating cash flow turned negative, and total assets and net assets increased Key Accounting Data and Financial Indicators for H1 2025 | Indicator | Current Period (yuan) | Prior Period (yuan) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 3,159,409,701.56 | 2,696,335,930.80 | 17.17% | | Net Profit Attributable to Shareholders of Listed Company | 79,632,767.20 | 2,224,025.97 | 3,480.57% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains and Losses) | 59,532,917.44 | -83,964,283.32 | 170.90% | | Net Cash Flow from Operating Activities | -316,779,695.82 | 171,102,883.07 | -285.14% | | Basic Earnings Per Share (yuan/share) | 0.1385 | 0.0038 | 3,544.74% | | Diluted Earnings Per Share (yuan/share) | 0.1385 | 0.0038 | 3,544.74% | | Weighted Average Return on Net Assets | 2.36% | 0.06% | 2.30% | | **End of Current Period** | **End of Prior Year** | **Change from End of Prior Year to End of Current Period** | | | Total Assets | 6,433,406,905.86 | 5,947,842,330.01 | 8.16% | | Net Assets Attributable to Shareholders of Listed Company | 3,410,262,435.93 | 3,328,432,467.16 | 2.46% | [Differences in Accounting Data Under Domestic and International Accounting Standards](index=7&type=section&id=%E4%BA%94%E3%80%81%E5%A2%83%E5%86%85%E5%A4%96%E4%BC%9A%E8%AE%A1%E5%87%86%E5%88%99%E4%B8%8B%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%B7%AE%E5%BC%82) The company reported no differences in net profit or net assets between international/overseas accounting standards and Chinese accounting standards - The company's financial reports for the reporting period show no differences in net profit and net assets when disclosed under International Accounting Standards versus Chinese Accounting Standards[21](index=21&type=chunk) - The company's financial reports for the reporting period show no differences in net profit and net assets when disclosed under overseas accounting standards versus Chinese Accounting Standards[22](index=22&type=chunk) [Non-Recurring Gains and Losses and Amounts](index=7&type=section&id=%E5%85%AD%E3%80%81%E9%9D%9E%E5%B8%B8%E8%A7%84%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%8F%8A%E9%87%91%E9%A2%9D) Total non-recurring gains and losses were **20.10 million yuan**, mainly from government subsidies and wealth management, offset by non-current asset disposals Non-Recurring Gains and Losses for H1 2025 | Item | Amount (yuan) | | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | -3,081,785.72 | | Government Subsidies Included in Current Period's Profit/Loss | 21,763,800.18 | | Other Non-Operating Income and Expenses Apart from the Above | 355,704.64 | | Bank Wealth Management Income | 1,967,755.65 | | Less: Income Tax Impact | 972,121.36 | | Minority Interest Impact (After Tax) | -66,496.37 | | Total | 20,099,849.76 | [Management Discussion and Analysis](index=9&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 principal operations, core competencies, financial performance, investment activities, and risk management strategies [Principal Businesses Engaged in by the Company During the Reporting Period](index=9&type=section&id=%E4%B8%80%E3%80%81%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, guided by its circular economy mission, operates in renewable resource equipment, high-end elevator components, rare earth resource utilization, and magnetic materials, with performance driven by rare earth price recovery and industry growth [Overview of Principal Businesses](index=9&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%E4%B8%BB%E8%A6%81%E4%B8%9A%E5%8A%A1%E6%83%85%E5%86%B5) The company aims to be a global leader in circular economy solutions, with core businesses in renewable resource equipment, elevator components, rare earth utilization, and magnetic materials - The company's mission is "serving the circular economy and creating a green life," aiming to become a global manufacturer of renewable resource processing equipment and a comprehensive resource recycling operator[27](index=27&type=chunk) - During the reporting period, the company's principal businesses were divided into four segments: renewable resource equipment and operations, high-end elevator component manufacturing, rare earth resource comprehensive utilization, and rare earth magnetic materials[27](index=27&type=chunk) [Main Products and Uses](index=9&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%E4%B8%BB%E8%A6%81%E4%BA%A7%E5%93%81%E5%8F%8A%E7%94%A8%E9%80%94) The company's diverse product portfolio includes renewable resource processing equipment, scrap steel and end-of-life vehicle recycling, elevator components, high-purity rare earth oxides from waste, and sintered NdFeB magnets for various high-tech applications - Renewable resource processing equipment products include various metal crushing, hydraulic shearing, metal baling, metal briquetting equipment, and end-of-life vehicle dismantling equipment, widely used in the renewable resource industry[28](index=28&type=chunk) - The elevator components segment's main products include human-machine interfaces, smart building systems, multimedia, signal systems, and safety components such as speed governors and safety gears, serving global first-tier elevator brands[29](index=29&type=chunk)[30](index=30&type=chunk) - The rare earth resource comprehensive utilization segment primarily recycles rare earth permanent magnet material production waste and used permanent magnet materials to produce high-purity rare earth oxides such as praseodymium oxide and neodymium oxide[31](index=31&type=chunk) - The rare earth magnetic materials business produces sintered NdFeB magnets, applied in electric bicycle motors, electric vehicle motors, industrial drive motors, and MRI equipment[32](index=32&type=chunk) [Company's Industry Position](index=10&type=section&id=%EF%BC%88%E4%B8%89%EF%BC%89%E5%85%AC%E5%8F%B8%E8%A1%8C%E4%B8%9A%E5%9C%B0%E4%BD%8D) The company holds a leading position in renewable resource equipment, with Wellman as a high-tech elevator component supplier, and its rare earth and magnetic materials segments demonstrate industry-leading capacity, green practices, and extensive intellectual property - The company is one of the leading domestic enterprises in the metal renewable resource processing equipment sector, holding titles such as "National Torch Program Key High-tech Enterprise" and "National Green Factory"[33](index=33&type=chunk) - Wellman, as an elevator precision component manufacturer, is a high-tech enterprise that has established strategic partnerships with international elevator giants such as Schindler, KONE, Mitsubishi, Hitachi, and TKE[34](index=34&type=chunk) - The rare earth resource comprehensive utilization segment can produce over **12,000 tons of recycled rare earth oxides annually**, with industry-leading production capacity, actively promoting the deep integration of scale, green practices, and digitalization[36](index=36&type=chunk) - The rare earth magnetic materials segment has an annual production capacity exceeding **15,000 tons**, has passed quality management system certifications such as IATF16949, and holds over **100 invention and utility model patents**[37](index=37&type=chunk) [Performance Driving Factors](index=11&type=section&id=%EF%BC%88%E5%9B%9B%EF%BC%89%E4%B8%9A%E7%BB%A9%E9%A9%B1%E5%8A%A8%E5%9B%A0%E7%B4%A0) H1 2025 performance improved significantly, driven by stabilizing rare earth prices, effective market capture by the rare earth utilization segment, and rapid growth in high-tech applications for rare earth permanent magnets - Domestic prices of major rare earth raw materials stabilized and rebounded, driven by national industrial policy support, improved market supply-demand dynamics, and changes in the international trade environment[38](index=38&type=chunk) - The company's rare earth resource comprehensive utilization segment effectively seized market opportunities, demonstrating strong development momentum[38](index=38&type=chunk) - The rare earth permanent magnet materials industry achieved synchronous rapid growth due to its broad prospects in high-tech fields such as new energy vehicles, industrial automation, robotics, and consumer electronics[39](index=39&type=chunk) [Analysis of Core Competencies](index=12&type=section&id=%E4%BA%8C%E3%80%81%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) The company maintains a leading position and steady growth across its businesses through strong brand, scale, technology, R&D, management, customer relationships, and global supply chain advantages - The company possesses strong system integration capabilities, offering integrated solutions for renewable resource recycling and utilization, supported by technical service personnel proficient in engineering systems and user processes[41](index=41&type=chunk) - Adhering to market-orientation and innovation principles, the company has developed a unique new product R&D management model, committed to replacing imported products and adapting to global markets[41](index=41&type=chunk) - The company has cultivated a loyal, dedicated, united, and innovative workforce, with high-caliber technical, sales, and management teams demonstrating strong cohesion and execution capabilities[42](index=42&type=chunk) - The company's four major business segments hold leading positions in their respective niches, having accumulated a high-quality customer base including major domestic steel smelting enterprises, international elevator giants, China Rare Earth, and Northern Rare Earth[43](index=43&type=chunk) - The company is a global partner of Schindler, enhancing its global supply chain advantage by establishing overseas factories[44](index=44&type=chunk) - The company has been deeply rooted in the renewable resource industry for over **30 years**, expanding into comprehensive utilization of recycled rare earth materials through acquisitions, and serves as a vice-chairman unit for associations such as the China Scrap Steel Application Association[45](index=45&type=chunk) [Analysis of Principal Businesses](index=13&type=section&id=%E4%B8%89%E3%80%81%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) Operating revenue grew **17.17%** due to strong rare earth and magnetic material sales, while operating and net profits surged from stabilizing rare earth prices and improved operations, though operating cash flow significantly declined due to increased business and procurement Year-on-Year Changes in Key Financial Data | Indicator | Current Period (yuan) | Prior Period (yuan) | Year-on-Year Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 3,159,409,701.56 | 2,696,335,930.80 | 17.17% | | | Operating Cost | 2,857,229,796.82 | 2,564,739,547.73 | 11.40% | | | Financial Expenses | 31,473,462.81 | 23,353,559.80 | 34.77% | Increased financing scale led to higher interest expenses | | Income Tax Expense | 6,370,076.48 | 12,325,684.74 | -48.32% | Accumulated losses from prior years offset taxable income in the current period | | R&D Investment | 100,151,317.30 | 81,590,095.44 | 22.75% | | | Net Cash Flow from Operating Activities | -316,779,695.82 | 171,102,883.07 | -285.14% | Increased business volume, expanded procurement scale, and higher cash outflows | | Net Cash Flow from Financing Activities | 196,176,792.83 | -179,859,196.29 | 209.07% | Increased bank borrowings in the current period | | Operating Profit | 87,584,094.90 | 26,061,055.62 | 236.07% | Rare earth product market prices stabilized and rebounded, the rare earth resource comprehensive utilization business showed good development momentum, and other business segments maintained stable operations with significant profit improvement | | Net Profit | 80,629,588.43 | 12,007,189.47 | 571.51% | Rare earth product market prices stabilized and rebounded, the rare earth resource comprehensive utilization business showed good development momentum, and other business segments maintained stable operations with significant profit improvement | Operating Revenue Composition (by Industry and Product) | Category | Item | Current Period Amount (yuan) | Proportion of Operating Revenue | Prior Period Amount (yuan) | Proportion of Operating Revenue | Year-on-Year Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **By Industry** | Renewable Resources | 2,043,905,946.50 | 64.69% | 1,761,792,678.23 | 65.34% | 16.01% | | | Magnetic Materials | 750,870,190.20 | 23.77% | 580,664,001.09 | 21.54% | 29.31% | | | Elevator Components | 310,467,841.66 | 9.83% | 286,980,419.31 | 10.64% | 8.18% | | **By Product** | Sales of Renewable Resource Processing Equipment | 330,024,377.30 | 10.45% | 403,537,718.04 | 14.97% | -18.22% | | | Rare Earth Resource Comprehensive Utilization | 1,565,952,101.32 | 49.56% | 1,248,177,588.08 | 46.29% | 25.46% | | | Sales of Magnetic Materials | 750,870,190.20 | 23.77% | 580,664,001.09 | 21.54% | 29.31% | | **By Region** | Domestic Sales | 3,022,770,805.57 | 95.68% | 2,574,451,188.47 | 95.48% | 17.41% | | | International Sales | 136,638,895.99 | 4.32% | 121,884,742.33 | 4.52% | 12.11% | Changes in Gross Profit Margin of Principal Businesses | Category | Item | Gross Profit Margin | Operating Revenue Year-on-Year Change | Operating Cost Year-on-Year Change | Gross Profit Margin Year-on-Year Change | | :--- | :--- | :--- | :--- | :--- | :--- | | **By Industry** | Renewable Resources | 8.02% | 16.01% | 7.40% | 7.38% | | | Magnetic Materials | 7.56% | 29.31% | 26.24% | 2.25% | | | Elevator Components | 20.63% | 8.18% | 14.59% | -4.44% | | **By Product** | Sales of Renewable Resource Processing Equipment | 16.06% | -18.22% | -23.66% | 5.98% | | | Rare Earth Resource Comprehensive Utilization | 6.78% | 25.46% | 15.27% | 8.24% | | | Sales of Magnetic Materials | 7.56% | 29.31% | 26.24% | 2.25% | | **By Region** | Domestic Sales | 8.47% | 18.39% | 12.16% | 5.08% | | | International Sales | 24.47% | 12.11% | 11.51% | 0.40% | [Analysis of Non-Principal Businesses](index=15&type=section&id=%E5%9B%9B%E3%80%81%E9%9D%9E%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) The company had no non-principal business activities requiring disclosure during the reporting period - The company had no non-principal businesses during the reporting period[52](index=52&type=chunk) [Analysis of Assets and Liabilities](index=15&type=section&id=%E4%BA%94%E3%80%81%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) Total assets grew **8.16%** and net assets **2.46%**, with increased inventory and receivables, decreased cash and fixed assets, higher short-term borrowings, lower contract and long-term liabilities, and some restricted assets Significant Changes in Asset Composition | Item | Amount at End of Current Period (yuan) | Proportion of Total Assets | Amount at End of Prior Year (yuan) | Proportion of Total Assets | Change in Proportion | | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 599,749,672.50 | 9.32% | 767,774,730.64 | 12.91% | -3.59% | | Accounts Receivable | 861,693,282.62 | 13.39% | 680,000,838.58 | 11.43% | 1.96% | | Inventories | 2,194,792,175.65 | 34.12% | 1,831,169,478.44 | 30.79% | 3.33% | | Fixed Assets | 976,621,654.88 | 15.18% | 1,009,475,929.52 | 16.97% | -1.79% | | Construction in Progress | 235,802,804.61 | 3.67% | 153,198,739.87 | 2.58% | 1.09% | | Short-term Borrowings | 801,991,611.73 | 12.47% | 613,228,139.00 | 10.31% | 2.16% | | Contract Liabilities | 96,227,451.17 | 1.50% | 127,474,452.26 | 2.14% | -0.64% | | Long-term Borrowings | 187,689,646.48 | 2.92% | 228,233,503.51 | 3.84% | -0.92% | Asset Rights Restriction Status as of the End of the Reporting Period | Item | Book Balance (yuan) | Book Value (yuan) | Type of Restriction | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 154,615,536.15 | 154,615,536.15 | Issuance of letters of guarantee, letters of credit, bank acceptance bills, judicial freezing due to litigation | | Fixed Assets | 381,884,013.12 | 235,652,217.97 | Mortgage for loans, judicial freezing due to litigation | | Intangible Assets | 69,304,092.28 | 52,964,737.77 | Mortgage for loans, judicial seizure due to litigation | | Construction in Progress | 16,410,109.07 | 16,410,109.07 | Mortgage for loans | | Total | 622,213,750.62 | 459,642,600.96 | | [Analysis of Investment Status](index=16&type=section&id=%E5%85%AD%E3%80%81%E6%8A%95%E8%B5%84%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) Investment decreased by **57.12%**, with no securities or major equity/non-equity investments; **96.99%** of raised funds were used for Wanhong Gaoxin acquisition and equipment expansion, with remaining funds supplementing working capital Investment Amount During the Reporting Period | Investment Amount Current Period (yuan) | Investment Amount Prior Period (yuan) | Change Rate | | :--- | :--- | :--- | | 20,000,000.00 | 46,641,490.00 | -57.12% | - The company had no securities investments or derivative investments during the reporting period[58](index=58&type=chunk)[59](index=59&type=chunk) Overall Use of Raised Funds | Total Raised Funds (1) | Cumulative Used Raised Funds (2) | Proportion of Cumulative Used Raised Funds (2)/(1) | Total Unused Raised Funds | | :--- | :--- | :--- | :--- | | 515,000,000.00 yuan | 504,019,200.00 yuan | 96.99% | 4,890,900.00 yuan | - The "Large-scale Intelligent Recycled Metal Raw Material Processing Equipment Expansion Project" has reached its intended usable state, and the company will permanently use the remaining raised funds of **10.5356 million yuan** to supplement working capital[64](index=64&type=chunk) [Significant Asset and Equity Sales](index=19&type=section&id=%E4%B8%83%E3%80%81%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) The company did not undertake any significant asset or equity sales during the reporting period - The company did not sell any significant assets during the reporting period[67](index=67&type=chunk) - The company did not sell any significant equity during the reporting period[68](index=68&type=chunk) [Analysis of Major Holding and Participating Companies](index=20&type=section&id=%E5%85%AB%E3%80%81%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) Major subsidiaries include Wellman, Xintai Technology, Zhejiang Zhonghang, and Ganzhou Huazhuo; Xintai Technology was the largest net profit contributor at **66.19 million yuan**, while Ganzhou Huazhuo incurred losses, and no subsidiaries were acquired or disposed of Major Subsidiaries and Participating Companies with Over 10% Impact on Company's Net Profit | Company Name | Company Type | Principal Business | Registered Capital | Total Assets (yuan) | Net Assets (yuan) | Operating Revenue (yuan) | Operating Profit (yuan) | Net Profit (yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Wellman | Subsidiary | Elevator component production, sales | 66,000,000 yuan | 915,153,460.39 | 661,983,062.08 | 339,795,035.42 | 19,240,834.43 | 15,888,726.54 | | Xintai Technology | Subsidiary | Comprehensive recycling and utilization of NdFeB waste materials; magnetic material production, R&D, and sales | 68,034,092.00 yuan | 1,820,306,983.11 | 988,855,804.64 | 1,598,596,175.73 | 67,312,302.39 | 66,192,884.94 | | Zhejiang Zhonghang | Subsidiary | Magnetic material production, R&D, and sales | 30,000,000 yuan | 1,449,158,008.75 | 222,864,367.46 | 768,849,697.43 | 17,857,717.83 | 14,455,550.86 | | Ganzhou Huazhuo | Subsidiary | Renewable resource recycling | 120,000,000 yuan | 270,003,882.01 | 20,742,462.68 | 328,470,263.86 | -4,644,429.67 | -6,045,814.72 | - The company neither acquired nor disposed of any subsidiaries during the reporting period[70](index=70&type=chunk) [Information on Structured Entities Controlled by the Company](index=20&type=section&id=%E4%B9%9D%E3%80%81%E5%85%AC%E5%8F%B8%E6%8E%A7%E5%88%B6%E7%9A%84%E7%BB%93%E6%9E%84%E5%8C%96%E4%B8%BB%E4%BD%93%E6%83%85%E5%86%B5) The company did not control any structured entities during the reporting period - The company had no controlled structured entities during the reporting period[71](index=71&type=chunk) [Risks Faced by the Company and Countermeasures](index=20&type=section&id=%E5%8D%81%E3%80%81%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) The company addresses risks like M&A integration, market competition, price volatility, human resources, and exchange rate fluctuations through strategic integration, quality improvement, optimized procurement, talent development, and hedging - M&A integration risk: The company needs to quickly integrate existing renewable resource businesses into a coherent industrial chain to achieve industrial synergy and enhance profitability[71](index=71&type=chunk) - Intensified market competition risk: Maintain competitiveness by improving product quality, production efficiency, optimizing product structure, perfecting industrial layout, increasing technological upgrades, and developing new products[72](index=72&type=chunk) - Raw material and product market price fluctuation risk: Implement a procurement strategy of "small batches at high prices, large batches at low prices," expand the supplier list, stabilize long-term agreement resources, and reduce procurement costs[74](index=74&type=chunk) - Human resource risk: Address by attracting talent through multiple channels, improving internal training mechanisms, establishing a talent pipeline, and exploring flexible and diverse incentive mechanisms to cope[75](index=75&type=chunk) - Exchange rate fluctuation risk: Plan to manage certain foreign currency settlement transactions by signing forward foreign exchange contracts and other hedging instruments, based on materiality levels[76](index=76&type=chunk) [Formulation and Implementation of Market Value Management System and Valuation Enhancement Plan](index=21&type=section&id=%E5%8D%81%E4%B8%80%E3%80%81%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) The company neither established a market value management system nor disclosed a valuation enhancement plan during the reporting period - The company did not formulate a market value management system during the reporting period[77](index=77&type=chunk) - The company did not disclose a valuation enhancement plan during the reporting period[77](index=77&type=chunk) [Implementation of "Dual Improvement in Quality and Returns" Action Plan](index=21&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%22%E8%B4%A8%E9%87%8F%E5%9B%9E%E6%8A%A5%E5%8F%8C%E6%8F%90%E5%8D%87%22%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) The company did not disclose any announcement regarding the "Dual Improvement in Quality and Returns" action plan during the reporting period - The company did not disclose an announcement regarding the "Dual Improvement in Quality and Returns" action plan during the reporting period[77](index=77&type=chunk) [Corporate Governance, Environment, and Society](index=22&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 directors, supervisors, and senior management, profit distribution plans, environmental disclosures, and social responsibility initiatives [Changes in Company Directors, Supervisors, and Senior Management](index=22&type=section&id=%E4%B8%80%E3%80%81%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) No changes occurred in the company's directors, supervisors, or senior management during the reporting period - The company's directors, supervisors, and senior management experienced no changes during the reporting period[79](index=79&type=chunk) [Profit Distribution and Capital Reserve Conversion to Share Capital in the Current Period](index=22&type=section&id=%E4%BA%8C%E3%80%81%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) The company plans no cash dividends, bonus shares, or capital reserve conversions for the semi-annual period - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the semi-annual period[80](index=80&type=chunk) [Implementation of Company Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=22&type=section&id=%E4%B8%89%E3%80%81%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) The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures in place during the reporting period - The company had no equity incentive plans, employee stock ownership plans, or other employee incentive measures or their implementation status during the reporting period[81](index=81&type=chunk) [Environmental Information Disclosure Status](index=22&type=section&id=%E5%9B%9B%E3%80%81%E7%8E%AF%E5%A2%83%E4%BF%A1%E6%81%AF%E6%8A%AB%E9%9C%B2%E6%83%85%E5%86%B5) The company and its major subsidiaries are not mandated to disclose environmental information by law - The listed company and its major subsidiaries were not included in the list of enterprises required to disclose environmental information by law[82](index=82&type=chunk) [Social Responsibility Status](index=22&type=section&id=%E4%BA%94%E3%80%81%E7%A4%BE%E4%BC%9A%E8%B4%A3%E4%BB%BB%E6%83%85%E5%86%B5) The company upholds ethical operations, legal tax compliance, and active social responsibility, safeguarding stakeholder rights, protecting the environment, and contributing to public welfare for sustainable, win-win development - The company diligently implements labor laws and regulations, safeguarding employees' legitimate rights and interests by providing five major social insurances and housing provident funds[82](index=82&type=chunk) - The company is committed to being a long-term partner for its customers, adhering to principles of equal consultation and mutual benefit, improving procurement processes, and respecting and protecting the legitimate rights and interests of partners[82](index=82&type=chunk) - The company strictly fulfills its information disclosure obligations, strengthens investor relations management, and ensures shareholders' rights to information, participation, and voting on significant matters[83](index=83&type=chunk) - The company prioritizes environmental protection, actively responds to national energy conservation and emission reduction policies, develops a circular economy, and strives to achieve harmonious coexistence between the enterprise and nature[84](index=84&type=chunk) - The company endeavors to contribute to social welfare, supporting public good, assisting vulnerable groups, and promoting harmonious development between the company and surrounding communities[84](index=84&type=chunk) [Significant Matters](index=24&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 addresses commitments, related party transactions, external guarantees, litigation, and other significant events affecting the company during the reporting period [Commitments](index=24&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E3%80%81%E8%82%A1%E4%B8%9C%E3%80%81%E5%85%B3%E8%81%94%E6%96%B9%E3%80%81%E6%94%B6%E8%B4%AD%E4%BA%BA%E4%BB%A5%E5%8F%8A%E5%85%AC%E5%8F%B8%E7%AD%89%E6%89%BF%E8%AF%BA%E7%9B%B8%E5%85%B3%E6%96%B9%E5%9C%A8%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%B1%A5%E8%A1%8C%E5%AE%8C%E6%AF%95%E5%8F%8A%E6%88%AA%E8%87%B3%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%9C%AB%E8%B6%85%E6%9C%9F%E6%9C%AA%E5%B1%A5%E8%A1%8C%E5%AE%8C%E6%AF%95%E7%9A%84%E6%89%BF%E8%AF%BA%E4%BA%8B%E9%A1%B9) No commitments by the company or its related parties were fulfilled or overdue and unfulfilled during the reporting period - During the reporting period, there were no commitments by the company's actual controllers, shareholders, related parties, acquirers, or the company itself that were either fulfilled or overdue and unfulfilled as of the end of the reporting period[86](index=86&type=chunk) [Non-Operating Fund Occupation by Controlling Shareholder and Other Related Parties of the Listed Company](index=24&type=section&id=%E4%BA%8C%E3%80%81%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E5%8F%8A%E5%85%B6%E4%BB%96%E5%85%B3%E8%81%94%E6%96%B9%E5%AF%B9%E4%B8%8A%E5%B8%82%E5%85%AC%E5%8F%B8%E7%9A%84%E9%9D%9E%E7%BB%8F%E8%90%A5%E6%80%A7%E5%8D%A0%E7%94%A8%E8%B5%84%E9%87%91%E6%83%85%E5%86%B5) No non-operating funds were occupied by the controlling shareholder or other related parties during the reporting period - The company had no non-operating fund occupation by the controlling shareholder or other related parties during the reporting period[87](index=87&type=chunk) [Illegal External Guarantees](index=24&type=section&id=%E4%B8%89%E3%80%81%E8%BF%9D%E8%A7%84%E5%AF%B9%E5%A4%96%E6%8B%85%E4%BF%9D%E6%83%85%E5%86%B5) The company had no illegal external guarantees during the reporting period - The company had no illegal external guarantees during the reporting period[88](index=88&type=chunk) [Appointment and Dismissal of Accounting Firms](index=24&type=section&id=%E5%9B%9B%E3%80%81%E8%81%98%E4%BB%BB%E3%80%81%E8%A7%A3%E8%81%98%E4%BC%9A%E8%AE%A1%E5%B8%88%E4%BA%8B%E5%8A%A1%E6%89%80%E6%83%85%E5%86%B5) The company's semi-annual financial report remained unaudited - The company's semi-annual report was not audited[89](index=89&type=chunk) [Explanation by the Board of Directors and Supervisory Board on "Non-Standard Audit Report" for the Current Period](index=24&type=section&id=%E4%BA%94%E3%80%81%E8%91%A3%E4%BA%8B%E4%BC%9A%E3%80%81%E7%9B%91%E4%BA%8B%E4%BC%9A%E5%AF%B9%E4%BC%9A%E8%AE%A1%E5%B8%88%E4%BA%8B%E5%8A%A1%E6%89%80%E6%9C%AC%E6%8A%A5%E5%91%8A%E6%9C%9F%22%E9%9D%9E%E6%A0%87%E5%87%86%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A%22%E7%9A%84%E8%AF%B4%E6%98%8E) The company did not receive a non-standard audit report during the reporting period - The company had no non-standard audit report during the reporting period[90](index=90&type=chunk) [Explanation by the Board of Directors on "Non-Standard Audit Report" for the Prior Year](index=24&type=section&id=%E5%85%AD%E3%80%81%E8%91%A3%E4%BA%8B%E4%BC%9A%E5%AF%B9%E4%B8%8A%E5%B9%B4%E5%BA%A6%22%E9%9D%9E%E6%A0%87%E5%87%86%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A%22%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5%E7%9A%84%E8%AF%B4%E6%98%8E) The company did not receive a non-standard audit report during the reporting period - The company had no non-standard audit report during the reporting period[90](index=90&type=chunk) [Bankruptcy and Reorganization Related Matters](index=24&type=section&id=%E4%B8%83%E3%80%81%E7%A0%B4%E4%BA%A7%E9%87%8D%E6%95%B4%E7%9B%B8%E5%85%B3%E4%BA%8B%E9%A1%B9) The company had no bankruptcy or reorganization matters during the reporting period - The company had no bankruptcy and reorganization related matters during the reporting period[90](index=90&type=chunk) [Litigation Matters](index=24&type=section&id=%E5%85%AB%E3%80%81%E8%AF%89%E8%AE%BC%E4%BA%8B%E9%A1%B9) The company had no major litigation, but one sales contract dispute with Tangshan Jiahua resulted in a payment of **625,000 yuan** for goods, interest, and **94,542 yuan** in appraisal fees, which has been executed - The company had no significant litigation or arbitration matters during the current reporting period[91](index=91&type=chunk) Other Litigation Matters | Basic Information of Litigation (Arbitration) | Amount Involved (10,000 yuan) | Whether a Provision for Liabilities was Formed | Litigation (Arbitration) Progress | Litigation (Arbitration) Outcome and Impact | Execution Status of Judgment | | :--- | :--- | :--- | :--- | :--- | :--- | | Huahong Technology vs. Tangshan Jiahua Sales Contract Dispute Case | 62.5 | No | Judgment rendered on July 14, 2025 | Huahong Technology is required to pay Tangshan Jiahua 625,000 yuan for goods and interest, plus 94,542 yuan for appraisal fees | Executed | [Penalties and Rectification Status](index=25&type=section&id=%E4%B9%9D%E3%80%81%E5%A4%84%E7%BD%9A%E5%8F%8A%E6%95%B4%E6%94%B9%E6%83%85%E5%86%B5) The company had no penalties or rectification issues during the reporting period - The company had no penalties or rectification situations during the reporting period[93](index=93&type=chunk) [Integrity Status of the Company, its Controlling Shareholder, and Actual Controllers](index=25&type=section&id=%E5%8D%81%E3%80%81%E5%85%AC%E5%8F%B8%E5%8F%8A%E5%85%B6%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E3%80%81%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E7%9A%84%E8%AF%9A%E4%BF%A1%E7%8A%B6%E5%86%B5) No integrity issues were reported for the company, its controlling shareholder, or actual controllers during the reporting period - During the reporting period, there were no integrity issues concerning the company, its controlling shareholder, or actual controllers[94](index=94&type=chunk) [Significant Related Party Transactions](index=25&type=section&id=%E5%8D%81%E4%B8%80%E3%80%81%E9%87%8D%E5%A4%A7%E5%85%B3%E8%81%94%E4%BA%A4%E6%98%93) The company had no related party transactions concerning daily operations, asset/equity acquisitions/disposals, joint investments, creditor-debtor relationships, or dealings with affiliated financial companies - The company had no related party transactions related to daily operations during the reporting period[94](index=94&type=chunk) - The company had no related party transactions involving asset or equity acquisitions or disposals during the reporting period[95](index=95&type=chunk) - The company had no related party transactions involving joint external investments during the reporting period[96](index=96&type=chunk) - The company had no related party creditor-debtor relationships during the reporting period[97](index=97&type=chunk) - There were no deposits, loans, credit lines, or other financial transactions between the company and affiliated financial companies or related parties[98](index=98&type=chunk) - There were no deposits, loans, credit lines, or other financial transactions between the company's controlled financial company and related parties[99](index=99&type=chunk) - The company had no other significant related party transactions during the reporting period[100](index=100&type=chunk) [Significant Contracts and Their Performance](index=26&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%E9%87%8D%E5%A4%A7%E5%90%88%E5%90%8C%E5%8F%8A%E5%85%B6%E5%B1%A5%E8%A1%8C%E6%83%85%E5%86%B5) The company had no entrustment, contracting, or leasing matters; it provided **1.365 billion yuan** in joint liability guarantees to subsidiaries, representing **40.03%** of net assets, and held **101.3 million yuan** in bank wealth management products with no overdue principal - The company had no entrustment, contracting, or leasing situations during the reporting period[101](index=101&type=chunk)[102](index=102&type=chunk)[103](index=103&type=chunk) Company's Guarantees to Subsidiaries | Guaranteed Party Name | Guaranteed Amount (10,000 yuan) | Actual Guaranteed Amount (10,000 yuan) | Type of Guarantee | Guarantee Period | Whether Fulfilled | | :--- | :--- | :--- | :--- | :--- | :--- | | Ganzhou Huazhuo | 120,000 | 16,200 | Joint and several liability guarantee | Five years | No | | Xintai Technology | 150,000 | 15,000 | Joint and several liability guarantee | Five years | No | | Jiangxi Wanhong | 150,000 | 8,000 | Joint and several liability guarantee | One year | Yes | | Zhejiang Zhonghang | 150,000 | 4,800 | Joint and several liability guarantee | One year | Yes | | Ningbo Zhonghang Shidai | 150,000 | 1,300 | Joint and several liability guarantee | One year | No | | Ningbo Zhonghang Shiye | 150,000 | 15,000 | Joint and several liability guarantee | One year | No | | Zhonghang Magnetic | 200,000 | 4,900 | Joint and several liability guarantee | One year | No | | Jishui Jincheng | 150,000 | 5,000 | Joint and several liability guarantee | Two years | No | Total Company Guarantees | Indicator | Amount (10,000 yuan) | | :--- | :--- | | Total Approved Guarantee Limit During Reporting Period | 200,000 | | Total Actual Guarantees Issued During Reporting Period | 162,300 | | Total Approved Guarantee Limit at End of Reporting Period | 200,000 | | Total Actual Outstanding Guarantee Balance at End of Reporting Period | 136,500 | | Proportion of Total Actual Guarantees to Company's Net Assets | 40.03% | Wealth Management Status | Specific Type | Source of Wealth Management Funds | Amount of Wealth Management Transactions (10,000 yuan) | Outstanding Balance (10,000 yuan) | Overdue Unrecovered Amount (10,000 yuan) | | :--- | :--- | :--- | :--- | :--- | | Bank Wealth Management Products | Own Funds | 32,536 | 10,130 | 0 | [Explanation of Other Significant Matters](index=29&type=section&id=%E5%8D%81%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E9%87%8D%E5%A4%A7%E4%BA%8B%E9%A1%B9%E7%9A%84%E8%AF%B4%E6%98%8E) The company had no other significant matters requiring explanation during the reporting period - The company had no other significant matters requiring explanation during the reporting period[110](index=110&type=chunk) [Significant Matters of Company Subsidiaries](index=29&type=section&id=%E5%8D%81%E5%9B%9B%E3%80%81%E5%85%AC%E5%8F%B8%E5%AD%90%E5%85%AC%E5%8F%B8%E9%87%8D%E5%A4%A7%E4%BA%8B%E9%A1%B9) The company had no significant matters concerning subsidiaries during the reporting period - The company had no significant matters concerning subsidiaries during the reporting period[111](index=111&type=chunk) [Share Changes and Shareholder Information](index=30&type=section&id=%E7%AC%AC%E5%85%AD%E8%8A%82%20%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E5%8F%8A%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) This section details changes in share capital, securities issuance, shareholder structure, and holdings of directors, supervisors, and senior management [Share Change Status](index=30&type=section&id=%E4%B8%80%E3%80%81%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) Total share capital increased by **9,162 shares** due to convertible bond conversion, restricted shares decreased by **3.78 million**, and unrestricted shares increased by **3.79 million**, impacting EPS and net assets per share negatively Share Change Status | Item | Quantity Before Change (shares) | Proportion Before Change | Change (Increase/Decrease) Subtotal (shares) | Quantity After Change (shares) | Proportion After Change | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 72,454,395 | 12.46% | -3,781,586 | 68,672,809 | 11.81% | | II. Unrestricted Shares | 509,071,382 | 87.54% | 3,790,748 | 512,862,130 | 88.19% | | III. Total Shares | 581,525,777 | 100.00% | 9,162 | 581,534,939 | 100.00% | - The main reasons for share changes were the increase of **9,162 shares** due to the conversion of "Huahong Convertible Bonds" and the unlocking of unrestricted tradable shares held by Director Hu Shiyong[115](index=115&type=chunk) - The share changes resulted in a decrease in the company's basic and diluted earnings per share, and net assets per share attributable to ordinary shareholders for the most recent year and period[116](index=116&type=chunk) Changes in Restricted Shares | Shareholder Name | Restricted Shares at Beginning of Period (shares) | Restricted Shares Released in Current Period (shares) | Restricted Shares Increased in Current Period (shares) | Restricted Shares at End of Period (shares) | Reason for Restriction | Date of Release from Restriction | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Hu Shiyong | 15,126,345 | 3,781,586 | 0 | 11,344,759 | Executive Lock-up Shares | January 1, 2025 | [Securities Issuance and Listing Status](index=31&type=section&id=%E4%BA%8C%E3%80%81%E8%AF%81%E5%88%B8%E5%8F%91%E8%A1%8C%E4%B8%8E%E4%B8%8A%E5%B8%82%E6%83%85%E5%86%B5) The company had no securities issuance or listing activities during the reporting period - The company had no securities issuance or listing during the reporting period[118](index=118&type=chunk) [Number of Shareholders and Shareholding Status](index=31&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E4%B8%9C%E6%95%B0%E9%87%8F%E5%8F%8A%

天眼查商业履历信息显示，江苏华宏科技股份有限公司，成立于2004年，位于无锡市，是一家以从事铁 路、船舶、航空航天和其他运输设备制造业为主的企业。企业注册资本58151.7698万人民币，实缴资本 24018.2277万人民币。公司法定代表人为胡品贤。 通过天眼查大数据分析，江苏华宏科技股份有限公司共对外投资了12家企业，参与招投标项目217次， 知识产权方面有商标信息15条，专利信息425条，此外企业还拥有行政许可35个。 来源：金融界 金融界消息 截至2025年8月25日收盘，华宏科技（002645）报收于17.97元，上涨6.39%，换手率 17.25%，成交量89.42万手，成交金额15.93亿元。 资金流向方面，今日主力资金净流入5388.91万元，占比成交额3.38%。其中，超大单净流入3962.49万 元、占成交额2.49%，大单净流入1426.42万元、占成交额0.9%，中单净流出流出1706.07万元、占成交 额1.07%，小单净流出3682.84万元、占成交额2.31%。 华宏科技最新一期业绩显示，截至2025一季报，公司营业总收入14.36亿元、同比增长18.76%，归属净 利润3113 ...

Group 1 - The stock price of Huahong Technology as of August 22, 2025, is 16.89 yuan, down 2.48% from the previous trading day [1] - The opening price on the same day was 16.58 yuan, with a highest point of 17.85 yuan and a lowest point of 16.58 yuan, with a trading volume of 789,282 hands and a transaction amount of 1.347 billion yuan [1] - The company specializes in the research, production, and sales of recycling resource processing equipment, including metal baling and shearing equipment, and operates in the environmental equipment manufacturing industry [1] Group 2 - On August 22, the stock price of Huahong Technology experienced rapid fluctuations, dropping over 2% to 17.11 yuan within 5 minutes at 9:36 AM, followed by a rebound of over 2% to 17.48 yuan within 5 minutes at 9:45 AM [1] - On the same day, the net outflow of main funds was 149.4877 million yuan, accounting for 1.73% of the circulating market value [1] - Over the past five trading days, the cumulative net outflow reached 49.102 million yuan, representing 0.57% of the circulating market value [1]

证券代码：002645 证券简称：华宏科技 公告编号：2025-058 债券代码: 127077 债券简称:华宏转债 江苏华宏科技股份有限公司 关于控股股东、实际控制人及其一致行动人持股比例被动稀释 触及 1%及 5%整数倍的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 本次权益变动系江苏华宏科技股份有限公司（以下简称"公司"）可转换公 司债券（以下简称"可转债"）转股，导致控股股东江苏华宏实业集团有限公司、 实际控制人及其一致行动人胡士勇先生、胡士清先生和胡士法先生的持股比例被 动稀释，权益变动前后上述股东持股数量无变化，公司控股股东、实际控制人未 发生变化。现将有关情况公告如下： 一、本次权益变动的基本情况 经中国证券监督管理委员会《关于核准江苏华宏科技股份有限公司公开发行 可转换公司债券的批复》 （证监许可〔2022〕1121 号）核准，公司公开发行可转 换公司债券 51,500.00 万元，每张面值为 100.00 元，发行数量为 515.00 万张， 债券简称"华宏转债"，债券代码"127077"，已于 2023 年 1 月 10 日起 ...

江苏华宏科技股份有限公司 关于控股股东、实际控制人及其一致行动人持股比例被动稀释 触及 1%及 5%整数倍的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 本次权益变动系江苏华宏科技股份有限公司（以下简称"公司"）可转换公 司债券（以下简称"可转债"）转股，导致控股股东江苏华宏实业集团有限公司、 实际控制人及其一致行动人胡士勇先生、胡士清先生和胡士法先生的持股比例被 动稀释，权益变动前后上述股东持股数量无变化，公司控股股东、实际控制人未 发生变化。现将有关情况公告如下： 一、本次权益变动的基本情况 经中国证券监督管理委员会《关于核准江苏华宏科技股份有限公司公开发行 可转换公司债券的批复》（证监许可〔2022〕1121 号）核准，公司公开发行可转 换公司债券 51,500.00 万元，每张面值为 100.00 元，发行数量为 515.00 万张， 债券简称"华宏转债"，债券代码"127077"，已于 2023 年 1 月 10 日起在深交所 挂牌交易，并于 2023 年 6 月 8 日开始转股。 | 证券代码：002645 | | 证券简称：华宏科技 ...

New Stock Offerings - Shenke Co., Ltd. (002633) has a tender offer period from July 29, 2025, to August 27, 2025[1] - Fushun Special Steel (600399) has a tender offer period from August 12, 2025, to September 10, 2025[1] - Changcheng Military Industry (601606) announced a significant event on August 14, 2025[1] Market Alerts - Dongxin Co., Ltd. (688110) reported severe abnormal fluctuations on August 16, 2025[1] - ST Suwu (600200) has an announcement dated August 21, 2025, regarding market conditions[1] - Yunnan Zhiye (002428) and other companies have recent announcements on August 21, 2025, indicating market activity[1] Financial Performance - ST Jiangsu (600021) reported significant fluctuations on August 20, 2025, with a notable announcement[1] - ST Huanrong (600421) has an announcement dated August 20, 2025, reflecting market conditions[1] - ST Jinhong (000669) reported on August 20, 2025, indicating financial performance concerns[1]

Core Insights - The environmental equipment sector experienced a 0.56% increase on August 21, with Hengyu Environmental leading the gains [1] - The Shanghai Composite Index closed at 3771.1, up 0.13%, while the Shenzhen Component Index closed at 11919.76, down 0.06% [1] Environmental Equipment Sector Performance - Hengying Environmental (688309) saw a significant increase of 19.98%, closing at 27.80 with a trading volume of 61,400 shares and a transaction value of 167 million [1] - Other notable performers included Xuedilong (002658) with a 4.24% increase, Huahong Technology (002645) up 3.84%, and Yingfeng Environment (000967) rising by 3.07% [1] - The sector's overall trading volume and transaction values indicate active market participation, with Huahong Technology achieving a transaction value of 1.68 billion [1] Capital Flow Analysis - The environmental equipment sector saw a net inflow of 594,900 yuan from institutional investors, while retail investors contributed a net inflow of 1.54 million yuan [2] - Notably, Xuedilong (002658) had a net inflow of 54.30 million yuan from institutional investors, despite a net outflow from retail investors [3] - The overall capital flow indicates a mixed sentiment, with institutional investors showing confidence in certain stocks while retail investors exhibited caution [2][3]

证券代码：002645 证券简称：华宏科技 公告编号：2025-056 债券代码：127077 债券简称：华宏转债 江苏华宏科技股份有限公司 关于"华宏转债"可能满足赎回条件的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 特别提示: 自 2025 年 7 月 21 日至 2025 年 8 月 19 日，江苏华宏科技股份有限公司（以 下简称"公司"）股票已有 10 个交易日的收盘价不低于当期转股价格 11.14 元/ 股的 130%（即 14.482 元/股）。 若在未来触发"华宏转债"的有条件赎回条款，即在本次发行的可转换公司 债券转股期内，如果公司股票在任何连续 30 个交易日中至少 15 个交易日的收盘 价格不低于当期转股价格的 130%（含 130%），届时根据《江苏华宏科技股份有 限公司公开发行可转换公司债券募集说明书》（以下简称"《募集说明书》"） 中有条件赎回条款的相关约定，公司董事会有权决定按照债券面值加当期应计利 息的价格赎回全部或部分未转股的可转换公司债券。敬请广大投资者注意投资风 险。 一、可转换公司债券基本情况 （一）可转债 ...

证券代码：002645 证券简称：华宏科技 公告编号：2025-057 债券代码：127077 债券简称：华宏转债 江苏华宏科技股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、股票交易异常波动的情况介绍 大影响的未公开重大信息； 人不存在关于公司的应披露而未披露的重大事项，也不存在处于筹划阶段的重大 事项； 江苏华宏科技股份有限公司（以下简称"公司"）（证券简称：华宏科技； 证券代码：002645）股票交易价格于 2025 年 8 月 15 日、2025 年 8 月 18 日、2025 年 8 月 19 日连续三个交易日收盘价格涨幅偏离值累计超过 20%，根据深圳证券 交易所的有关规定，属于股票交易异常波动的情况。 二、公司关注并核实相关情况 针对公司股票交易异常波动，公司就相关事项进行了核实，现将有关情况说 明如下： 司披露的 2025 年半年度报告为准。截至目前，公司不存在需要修正业绩预告的 情况。 司选定的信息披露媒体，公司所有信息均以在上述媒体刊登的信息为准。 公司将严格按照有关法律法规的规定和要求，认真履行信息披露义务，及时 做好信 ...

金融界消息 截至2025年8月19日收盘，华宏科技（002645）报收于18.05元，上涨9.99%，换手率 19.14%，成交量98.16万手，成交金额17.53亿元。 资金流向方面，今日主力资金净流入1.63亿元，占比成交额9.3%。其中，超大单净流入2.24亿元、占成 交额12.79%，大单净流出6122.95万元、占成交额3.49%，中单净流出流出9193.92万元、占成交额 5.24%，小单净流出7101.32万元、占成交额4.05%。 天眼查商业履历信息显示，江苏华宏科技股份有限公司，成立于2004年，位于无锡市，是一家以从事铁 路、船舶、航空航天和其他运输设备制造业为主的企业。企业注册资本58151.7698万人民币，实缴资本 24018.2277万人民币。公司法定代表人为胡品贤。 通过天眼查大数据分析，江苏华宏科技股份有限公司共对外投资了12家企业，参与招投标项目217次， 知识产权方面有商标信息15条，专利信息425条，此外企业还拥有行政许可36个。 来源：金融界 华宏科技最新一期业绩显示，截至2025一季报，公司营业总收入14.36亿元、同比增长18.76%，归属净 利润3113.35万元 ...