Core Points - Shandong Heda (002810.SZ) announced that its director, board secretary, and deputy general manager, Bi Songling, plans to reduce his shareholding by up to 350,000 shares within three months after 15 trading days from the announcement date, representing 0.1017% of the company's total share capital [1] Summary by Category - **Company Actions** - Bi Songling intends to reduce his holdings through centralized bidding or block trading [1] - The planned reduction is limited to a maximum of 350,000 shares [1] - **Shareholding Impact** - The reduction will account for 0.1017% of the total share capital of Shandong Heda [1]

Core Viewpoint - The announcement from Shandong Heda indicates that a board member, Bi Songling, plans to reduce his shareholding by up to 350,000 shares within a specified timeframe, which may impact the company's stock performance and investor sentiment [1] Group 1: Shareholding Details - Bi Songling holds 1.433 million shares, representing 0.41% of the company's total share capital [1] - The planned reduction of shares is up to 350,000 shares, which accounts for approximately 0.1017% of the company's total share capital [1] Group 2: Reduction Timeline and Method - The reduction is scheduled to occur within three months, specifically from December 1, 2025, to February 28, 2026 [1] - The shares will be sold through centralized bidding or block trading methods [1] Group 3: Source of Shares - The shares to be reduced are sourced from pre-IPO shares, restricted stock from the equity incentive plan, and shares obtained from capital reserve fund conversion [1]

Core Points - The company approved a share repurchase plan using its own funds, with a total repurchase amount between RMB 50 million and RMB 100 million, and a maximum repurchase price of RMB 18.00 per share [1] - The maximum repurchase price was adjusted to RMB 17.90 per share due to the company's mid-year profit distribution [2] - As of October 30, 2025, the company had repurchased 4,019,981 shares, representing 1.15% of the total share capital, with a total expenditure of approximately RMB 50.73 million [3] Repurchase Implementation - The company initiated the share repurchase on May 16, 2025, and disclosed monthly progress reports [2][3] - The repurchase was completed within the planned timeframe and adhered to the approved scheme without significant deviations [3][4] Financial Impact - The company's financial condition remains stable, and the share repurchase is not expected to significantly impact its operations, financials, or future development [4] - The share distribution post-repurchase still meets listing requirements and does not affect the company's control [4] Compliance and Regulations - The share repurchase complied with relevant regulations and guidelines, including not executing repurchases during sensitive periods [6][7] - The repurchase was conducted within the established price limits and trading conditions [6][7] Shareholder Rights and Future Plans - The repurchased shares will be held in a special account and will not confer shareholder rights during the holding period [9] - The repurchased shares are intended for conversion into convertible bonds, with a plan to cancel any unutilized shares within 36 months if not used for the intended purpose [9]

Core Viewpoint - Shandong Heda has completed its share repurchase plan, successfully buying back a total of 4.02 million shares, which represents 1.1547% of the company's total share capital [1] Summary by Categories Share Repurchase Details - The company executed the share repurchase through a dedicated securities account via centralized bidding [1] - The highest transaction price was 14.289 CNY per share, while the lowest was 11.10 CNY per share [1] - The total funds used for the repurchase amounted to 50.731 million CNY, excluding transaction fees [1] Financial Implications - The repurchase amount has reached the lower limit set in the repurchase plan and has not exceeded the upper limit [1] - The company has completed the repurchase in accordance with the outlined plan [1]

债券代码：127088 债券简称：赫达转债 证券代码：002810 证券简称：山东赫达 公告编号：2025-094 山东赫达集团股份有限公司 截至 2025 年 10 月 30 日，公司回购股份数量已达到总股本的 1%。 截至 2025 年 10 月 31 日，本次回购股份方案已实施完毕。根据《上 市公司股份回购规则》《深圳证券交易所上市公司自律监管指引第 9 号——回购股份》（以下简称"《回购指引》"）的相关规定，现将公 司回购相关事项公告如下： 一、回购股份的实施情况 1、2025 年 5 月 16 日，公司首次通过回购专用证券账户以集中 竞价方式回购股份 433,600 股，并根据《深圳证券交易所上市公司自 律监管指引第 9 号——回购股份》等相关规定在每个月的前三个交易 日内披露截至上月末的回购进展情况，具体内容详见公司于 2025 年 5 月 8 日、2025 年 6 月 4 日、2025 年 7 月 2 日、2025 年 8 月 2 日、 2025 年 9 月 2 日、2025 年 10 月 10 日在巨潮资讯网披露的《关于回 购公司股份进展的公告》。 关于回购股份达 1%暨回购完成的公告 本公司 ...

Core Viewpoint - The company, Shandong Heda, has announced its share repurchase plan and provided updates on its financial performance for the third quarter of 2025, emphasizing the accuracy and completeness of its financial disclosures [1][2]. Financial Data Summary - The company confirmed that there are no adjustments or restatements needed for previous accounting data [4]. - The third-quarter financial report has not been audited [3][10]. - As of September 30, 2025, the company has repurchased 2,427,700 shares, representing approximately 0.6973% of its total share capital, with a total transaction amount of 29,928,786 yuan [7]. Share Repurchase Plan - The company approved a share repurchase plan on April 15, 2025, with a total repurchase amount between 50 million yuan and 100 million yuan, and a maximum repurchase price of 18.00 yuan per share [6]. - Following a mid-year profit distribution, the maximum repurchase price was adjusted to 17.90 yuan per share [7].

Financial Performance - Q3 2025 revenue was CNY 464,955,404.73, a decrease of 7.00% year-over-year[5] - Net profit attributable to shareholders was CNY 26,185,833.04, down 64.67% compared to the same period last year[5] - Basic earnings per share decreased by 63.64% to CNY 0.08[5] - Total revenue for the period reached ¥1,436,691,620.62, slightly up from ¥1,435,164,249.84 in the previous period, indicating a growth of 0.11%[22] - The net profit for the current period is 139,322,911.37, a decrease of 29.5% compared to 198,045,757.59 in the previous period[24] - The operating profit for the current period is 172,781,189.96, down from 226,461,911.57, reflecting a decline of 23.7%[24] - The total comprehensive income for the current period is 139,322,911.37, down from 198,045,757.59, reflecting a decrease of 29.5%[24] - Basic earnings per share for the current period is 0.41, compared to 0.58 in the previous period, representing a decline of 29.3%[24] Assets and Liabilities - Total assets as of September 30, 2025, were CNY 4,067,027,532.08, a decrease of 1.90% from the end of the previous year[5] - Total assets decreased to ¥4,067,027,532.08 from ¥4,145,881,622.90, a reduction of approximately 1.89%[21] - Total liabilities decreased to ¥1,748,771,863.48 from ¥1,936,048,620.51, reflecting a decline of about 9.7%[21] - The company's equity attributable to shareholders increased to ¥2,318,255,668.60 from ¥2,209,833,002.39, an increase of approximately 4.9%[21] Cash Flow - The company reported a 50.37% decline in net cash flow from operating activities year-to-date, totaling CNY 106,895,050.11[5] - Cash flow from operating activities generated a net amount of 106,895,050.11, significantly lower than 215,381,416.27 in the previous period, indicating a decrease of 50.4%[25] - Cash flow from investing activities resulted in a net outflow of -178,671,017.20, compared to -21,285,048.15 in the previous period, showing a substantial increase in cash outflow[26] - Cash flow from financing activities generated a net inflow of 125,582,336.28, contrasting with a net outflow of -115,266,146.66 in the previous period, marking a significant turnaround[26] Investments - Long-term equity investments increased by 70.62% to CNY 52,189,455.81 due to the equity method accounting for joint ventures[9] - The company invested in a new project in the U.S. with a total investment of CNY 200 billion for plant capsule production, leading to a 329.21% increase in construction in progress[9] - Investment income dropped by 76.95% to CNY 8,230,036.14, mainly due to reduced earnings from joint ventures[11] - Investment income received increased to ¥8,647,970.65, a 130.59% increase compared to ¥3,750,432.02 in the same period last year, primarily due to increased dividends from joint ventures and associates[12] - Long-term investments rose to ¥52,189,455.81 from ¥30,587,916.46, indicating a significant increase of about 70.7%[20] Expenses - Sales expenses rose by 37.34% to CNY 29,300,465.59, primarily due to increased employee compensation[11] - Financial expenses decreased by 48.92% to CNY 10,921,315.00, attributed to increased exchange gains[11] - Research and development expenses rose to ¥67,008,434.82, compared to ¥64,938,900.42, marking an increase of about 3.2%[22] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 26,049, with no preferred shareholders[15] - The company plans to repurchase shares with a total amount not less than ¥50 million and not exceeding ¥100 million, with a maximum repurchase price of ¥18.00 per share[17] - As of September 30, 2025, the company had repurchased 2,427,700 shares, accounting for approximately 0.6973% of the total share capital, with a total transaction amount of ¥29,928,786[18] Cash Management - The company's cash and cash equivalents decreased to ¥362,344,253.20 from ¥488,808,805.01, a decline of approximately 26%[20] - The cash and cash equivalents at the end of the period totaled 302,552,617.91, a decrease from 312,423,889.17 in the previous period[26] - Cash received from borrowings increased by 30.49% to ¥310,153,028.39 from ¥237,690,000.00, reflecting higher bank borrowings compared to the previous year[13] - Cash received from other financing activities rose by 543.10% to ¥344,967,386.12 from ¥53,640,914.44, primarily due to increased recovery of deposits[13] - Cash paid for debt repayment increased by 38.72% to ¥318,024,487.34 from ¥229,256,073.35, indicating higher loan repayments[13]

Core Points - Shandong Heda's stock increased by 5.04% to 13.55 CNY per share, with a trading volume of 115 million CNY and a turnover rate of 2.69%, resulting in a total market capitalization of 4.717 billion CNY [1] Company Overview - Shandong Heda Group Co., Ltd. is located in Zibo City, Shandong Province, established on December 7, 1992, and listed on August 26, 2016 [1] - The company's main business involves the research, production, and sales of water-soluble polymer compounds and downstream chemical products [1] - Revenue composition includes: 72.98% from self-produced cellulose ether products, 21.10% from plant hollow capsules, 3.86% from other chemical products, 1.90% from graphite products, and 0.16% from other supplementary products [1] Shareholder Information - Huashang Fund has a fund that ranks among the top ten circulating shareholders of Shandong Heda, specifically the Huashang Selected Return Mixed A (010761), which entered the top ten in Q2 with 2.1353 million shares, accounting for 0.67% of circulating shares [2] - The estimated floating profit for today is approximately 1.3879 million CNY [2] - The fund was established on January 19, 2021, with a latest scale of 2.261 billion CNY, achieving a year-to-date return of 42.1% and a one-year return of 38.23% [2] Fund Manager Performance - The fund managers of Huashang Selected Return Mixed A are Yu Yi, Sun Wei, and Cui Zhipeng [3] - Yu Yi has a tenure of 3 years and 41 days, with a total fund asset size of 5.867 billion CNY, achieving a best return of 69.77% and a worst return of -4.46% during the tenure [3] - Sun Wei has a tenure of 2 years and 293 days, managing 7.139 billion CNY, with a best return of 60.37% and a worst return of -9.31% [3] - Cui Zhipeng has a tenure of 1 year and 294 days, managing 3.64 billion CNY, with a best return of 61.74% and a worst return of 0.03% [3]

Group 1 - The core point of the news is that Shandong Heda's stock price increased by 5.04% to 13.55 CNY per share, with a trading volume of 115 million CNY and a turnover rate of 2.69%, resulting in a total market capitalization of 4.717 billion CNY [1] - Shandong Heda Group Co., Ltd. is located in Zibo City, Shandong Province, and was established on December 7, 1992. The company was listed on August 26, 2016, and its main business involves the research, production, and sales of water-soluble polymer compounds and downstream chemical products [1] - The revenue composition of Shandong Heda includes 72.98% from self-produced cellulose ether products, 21.10% from plant hollow capsules, 3.86% from other chemical products, 1.90% from graphite products, and 0.16% from other supplementary products [1] Group 2 - From the perspective of the top ten holdings of funds, data shows that Xinyuan Fund has one fund heavily invested in Shandong Heda. The Xinyuan Specialized and New Mixed A Fund (015071) increased its holdings by 89,000 shares in the second quarter, holding a total of 742,400 shares, which accounts for 8.17% of the fund's net value, making it the largest holding [2] - The Xinyuan Specialized and New Mixed A Fund (015071) was established on June 17, 2022, with a latest scale of 95.3868 million CNY. Year-to-date returns are 25.61%, ranking 3468 out of 8160 in its category; the one-year return is 29.22%, ranking 2595 out of 8026; and since inception, it has a loss of 34.81% [2]

Group 1 - The core point of the article is that Shandong Heda announced the release of restrictions on stock options and restricted stocks for 110 incentive recipients, allowing for the circulation of 2,480,000 shares, which represents 0.7124% of the company's total share capital of 348,136,913 shares [1] Group 2 - The announcement indicates that after the completion of the procedures for lifting the restrictions, the company will issue a related notice to inform investors [1]