Market Overview - The Shanghai Composite Index is at 3757.36 points, with a decline of 1.47% and total A-share trading volume of 20349.66 billion yuan [1] - As of now, 73 A-shares have surpassed their annual line, with notable stocks showing significant deviation rates [1] Notable Stocks - Stocks with the highest deviation rates include: - Aibulu (301259) with a deviation rate of 8.09% and a price increase of 10.22% [1] - Gongxiao Daji (000564) with a deviation rate of 8.06% and a price increase of 8.56% [1] - Shenglong Co. (603178) with a deviation rate of 6.11% and a price increase of 10.02% [1] - Other stocks with lower deviation rates that have just crossed the annual line include: - Weiguang Biological, Changjiang Electric Power, and Yunnan Tourism [1] Deviation Rate Rankings - The top stocks by deviation rate on September 4 include: - Aibulu (301259): Latest price 47.35 yuan, annual line 43.81 yuan [1] - Gongxiao Daji (000564): Latest price 2.79 yuan, annual line 2.58 yuan [1] - Shenglong Co. (603178): Latest price 20.54 yuan, annual line 19.36 yuan [1] - Additional stocks with notable performance include: - Wufangzhai (603237) with a deviation rate of 4.78% [1] - Yuanzhu Co. (603886) with a deviation rate of 3.50% [1]

Core Viewpoint - The company announced the election of Mr. Wu Wuliang as the employee director of the fifth board of directors during the first employee representative meeting held on August 28, 2025 [1] Group 1 - The company is set to hold its first employee representative meeting on August 28, 2025 [1] - Mr. Wu Wuliang has been elected as the employee director [1]

证券代码：002752 证券简称：昇兴股份 公告编号：2025-031 备查文件： 近日，昇兴集团股份有限公司（以下简称"公司"）董事、副总裁、董事会 秘书刘嘉屹先生因公司治理结构优化需要，申请辞去公司董事职务，辞去上述职 务后，刘嘉屹先生继续在公司担任副总裁、董事会秘书等职务。刘嘉屹先生原任 期至第五届董事会任期届满之日（即 2027 年 1 月 4 日）。刘嘉屹先生的辞任不会 导致公司董事会人数低于法定最低人数，不会影响公司董事会正常运行，其辞职 报告自送达公司董事会之日起生效。 截至本公告披露日，刘嘉屹先生直接持有公司股份 200,000 股，占公司总股 本的 0.02%，未通过其他主体间接持有公司股份。辞任公司董事后，刘嘉屹先生 将继续遵守《上市公司董事和高级管理人员所持本公司股份及其变动管理规则》 《深圳证券交易所上市公司自律监管指引第 10 号——股份变动管理》等法律法规 关于高级管理人员持股变动的相关规定。刘嘉屹先生在担任公司董事期间恪尽职 守、勤勉尽责，董事会对其在公司任职期间所做出的贡献表示感谢。 二、选举职工董事情况 根据《中华人民共和国公司法》《深圳证券交易所股票上市规则》《深圳证 券交 ...

Core Insights - The company reported a total revenue of 3.225 billion yuan for the first half of 2025, reflecting a year-on-year increase of 0.12% [1] - The net profit attributable to shareholders was 147 million yuan, showing a significant decline of 36.93% compared to the previous year [1] - The second quarter revenue reached 1.603 billion yuan, up 3.76% year-on-year, while the net profit for the same period was 54.43 million yuan, down 51.37% [1] Financial Performance - The gross profit margin was 10.34%, a decrease of 29.27% year-on-year, and the net profit margin was 4.6%, down 38.07% [1] - Total selling, administrative, and financial expenses amounted to 154 million yuan, accounting for 4.78% of revenue, which is a slight decrease of 0.1% year-on-year [1] - Earnings per share were 0.15 yuan, reflecting a decline of 36.93% year-on-year, while the net asset value per share increased by 7.25% to 3.54 yuan [1] Cash Flow and Receivables - The operating cash flow per share was 0.43 yuan, showing a significant increase of 90.47% year-on-year [1] - The company's accounts receivable were notably high, with accounts receivable to net profit ratio reaching 389.04% [1][2] - The cash flow situation is concerning, with cash and cash equivalents to current liabilities ratio at 33.31% [2] Return on Investment - The company's return on invested capital (ROIC) for the previous year was 8.41%, indicating average capital returns [2] - The historical median ROIC since the company went public is 7.78%, with the worst year being 2020, where ROIC was only 1.8% [2] - Analysts project the company's performance for 2025 to be around 398 million yuan, with an average earnings per share estimate of 0.41 yuan [2]

Core Viewpoint - The company reported a slight increase in revenue but a significant decline in net profit for the first half of 2025, indicating challenges in profitability despite growth in overseas markets [1][2]. Group 1: Financial Performance - In the first half of 2025, the company achieved revenue of 3.225 billion yuan, a year-on-year increase of 0.12%, while net profit attributable to shareholders was 147 million yuan, a decrease of 36.93% [1]. - The second quarter of 2025 saw revenue of 1.603 billion yuan, up 3.76% year-on-year, but net profit dropped by 51.37% to 54 million yuan [1]. - The gross margin and net profit margin for the first half of 2025 were 10.34% and 4.57%, respectively, down 4.38 and 2.68 percentage points year-on-year [2]. Group 2: Market Expansion and Strategy - The company reported domestic and overseas revenues of 2.746 billion yuan and 479 million yuan, respectively, with overseas revenue growing by 12.32% year-on-year [1]. - The overseas gross margin increased by 1.78 percentage points to 24.68%, highlighting the importance of international markets as a growth engine [1]. - The company is actively pursuing global expansion, with production trials at its Indonesian factory and the initiation of production line construction in Vietnam [1]. Group 3: Profitability Outlook - The company anticipates a gradual improvement in the metal packaging industry, with an expected increase in profitability for leading firms as market concentration rises [2]. - The company has announced a dividend policy, committing to distribute at least 20% of its distributable profits as cash dividends when conditions are met [2]. Group 4: Earnings Forecast - The revenue forecast for 2025-2027 is adjusted to 7.168 billion, 7.715 billion, and 8.385 billion yuan, reflecting a slight decrease in expectations for 2025 and 2026 [3]. - The projected net profit for the same period is revised to 398 million, 473 million, and 579 million yuan, indicating a decrease in 2025 but growth in subsequent years [3].

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative price increase of over 20% compared to the market benchmark within the next six months [18]. Core Views - The company reported a slight increase in revenue for the first half of 2025, achieving 3.76% growth in Q2, but faced a significant decline in net profit, down 51.37% year-on-year in the same quarter [3][6]. - The overseas business has become a core growth engine, with international revenue increasing by 12.32% year-on-year, while domestic revenue saw a slight decline [5]. - The company is actively expanding its global footprint, with production trials in Indonesia and the initiation of production line construction in Vietnam, which are expected to contribute to future growth [5]. Financial Performance Summary - For the first half of 2025, the company achieved a total revenue of 3.225 billion yuan, a year-on-year increase of 0.12%, while the net profit attributable to shareholders was 147 million yuan, a decrease of 36.93% [3]. - The gross margin for the first half of 2025 was 10.34%, down 4.38 percentage points year-on-year, indicating pressure on profitability due to weak supply-demand dynamics and intensified competition in the industry [6]. - The company has committed to a dividend policy, ensuring that cash dividends will be no less than 20% of the distributable profits when conditions are met [6]. Revenue and Profit Forecast - The revenue projections for 2025 to 2027 are set at 7.168 billion yuan, 7.715 billion yuan, and 8.385 billion yuan, respectively, reflecting a growth rate of 1%, 8%, and 9% [6][8]. - The net profit forecasts for the same period are 398 million yuan, 473 million yuan, and 579 million yuan, with a projected decline of 6% in 2025, followed by growth of 19% and 22% in the subsequent years [6][8].

Group 1 - The company reported a revenue of 3.225 billion yuan for the first half of 2025, representing a year-on-year growth of 0.12% [1] - The net profit attributable to shareholders of the listed company was 147 million yuan, a year-on-year decrease of 36.93% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 134 million yuan, down 39.44% year-on-year [1] - The basic earnings per share were 0.1508 yuan [1]

证券代码：002752 证券简称：昇兴股份 公告编号：2025-030 昇兴集团股份有限公司董事会 关于 2025 年半年度募集资金存放与使用情况的专项报告 根据深圳证券交易所《深圳证券交易所上市公司自律监管指引第 1 号——主 板上市公司规范运作》及《深圳证券交易所上市公司自律监管指南第 2 号——公 告格式》的规定，将昇兴集团股份有限公司（以下简称公司）2025 年半年度募 集资金存放与使用情况报告如下： 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、募集资金基本情况 （一）实际募集资金金额、资金到位时间 经中国证券监督管理委员会证监发行字[2020]2644 号文核准，公司于 2021 年 2 月向特定对象非公开发行人民币普通股（A 股）143,737,949 股，每股发行 价为 5.19 元，应募集资金总额为人民币 745,999,955.31 元，根据有关规定扣除发 行费用 9,457,519.34 元后，实际募集资金金额为 736,542,435.97 元。该募集资金 已于 2021 年 2 月到账。上述资金到账情况业经容诚会计师事务所（特殊 ...

昇兴集团股份有限公司 2025 年半年度非经营性资金占用及其他关联资金往来情况汇总表 公司法定代表人： 主管会计工作的负责人： 会计机构负责人： | 编制单位：昇兴集团股份有限公司 | | | | | | | | | | 单位：万元 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 非经营性资金 | | 占用方与上市公 | 上市公司核算 | 2025 年初占 | 2025 年半年度 | 2025 年半年度 | 2025 年半年度偿 | 2025 年半年 | 占用形 | 占用性 | | 占用 | 资金占用方名称 | 司的关联关系 | 的会计科目 | 用资金余额 | 占用累计发生 金额(不含利息) | 占用资金的利 息(如有) | 还累计发生金额 | 度末占用资 金余额 | 成原因 | 质 | | 控股股东、实 | | | | | | | | | | | | 际控制人及其 | | | | | | | | | | | | 附属企业 | | | | | | | | | | | | 小计 | — | — | — | - | - ...

证券代码：002752 证券简称：昇兴股份 公告编号：2025-028 公司《2025 年半年度报告》与本决议公告同日刊登在指定信息披露媒体巨潮 资讯网（http://www.cninfo.com.cn，下同）。 公司《2025 年半年度报告摘要》与本决议公告同日刊登在公司指定信息披露 媒体《证券时报》《证券日报》和巨潮资讯网。 二、审议通过《2025 年半年度募集资金存放与使用情况专项报告》。表决结 昇兴集团股份有限公司 第五届董事会第十四次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 昇兴集团股份有限公司（以下简称"公司"）第五届董事会第十四次会议于 2025 年 8 月 26 日上午在福建省福州市经济技术开发区经一路公司会议室以现场 与通讯相结合的会议方式召开。本次会议通知于 2025 年 8 月 15 日以专人递送、 电话和电子邮件等方式发出。本次会议由公司董事长林永保先生主持，应参加会 议董事七人，实际参加会议董事七人，公司总裁、副总裁、财务总监、董事会秘 书等高级管理人员列席了本次会议。本次会议的召集、召开符合《中华人民共和 国公司 ...