Investment Rating - The report maintains a "Buy" investment rating for the company [5]. Core Viewpoints - The company's performance is under short-term pressure due to low product prices, with total revenue for the first half of 2025 at 3.444 billion yuan, a year-on-year decrease of 7.62%, and net profit attributable to shareholders at 22 million yuan, down 89.24% year-on-year [1][2]. - The chemical and new materials business saw a revenue increase of 2.37% to 2.234 billion yuan, while the energy business revenue decreased by 21.75% to 1.210 billion yuan. The overall profitability has declined significantly due to narrowing price spreads between products and raw materials [2]. - The company has increased its R&D investment, reaching 175 million yuan, a 37.36% increase year-on-year, which has impacted cash flow negatively [3]. - The expansion of the butanol production capacity is expected to strengthen the company's competitive edge, with the new capacity projected to reach 150,000 tons per year [4][8]. - The company is expected to fill the market gap left by Shell's exit and improve performance through increased production of MTBE and butanediol, with projected net profits for 2025-2027 at 129 million, 410 million, and 518 million yuan respectively [9]. Summary by Sections Financial Performance - In the first half of 2025, the company reported total operating income of 3.444 billion yuan, a decrease of 7.62% year-on-year, and a net profit of 22 million yuan, down 89.24% year-on-year [1]. - The chemical and new materials segment's revenue increased by 2.37% to 2.234 billion yuan, while the energy segment's revenue decreased by 21.75% to 1.210 billion yuan [2]. R&D and Cash Flow - R&D expenses accounted for 2.78% of total revenue, with a significant increase in investment to 175 million yuan, impacting cash flow negatively [3]. Production Capacity and Market Position - The company is expanding its butanol production capacity, which is expected to enhance its market position and operational efficiency [4][8]. - The new MTBE production capacity is anticipated to help recover from the decline in profitability and fill the market void left by competitors [9]. Profit Forecast - The forecasted net profits for 2025, 2026, and 2027 are 129 million, 410 million, and 518 million yuan respectively, with corresponding P/E ratios of 35.1, 11.1, and 8.8 [9].

Group 1 - The company, Yuxin Co., announced on the evening of September 1 that it has repurchased a total of 4,728,600 shares through a special securities account for share repurchase, which accounts for 1.2330% of the company's total share capital [2]

格隆汇9月1日丨宇新股份(002986.SZ)公布，截至2025年8月31日，公司通过回购股份专用证券账户以集 中竞价方式回购公司股份4,728,600股，占公司总股本的1.2330%，最高成交价为13.19元/股，最低成交 价为10.67元/股，已使用资金总额53,573,569.39元（不含交易费用）。 ...

证券代码：002986 证券简称：宇新股份 公告编号：2025-060 广东宇新能源科技股份有限公司 关于回购股份方案实施进展的公告 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、误导性陈述或者重大遗漏。 广东宇新能源科技股份有限公司（以下简称"公司"）于 2025 年 4 月 28 日召开第四届董事会第四次会议，审议通过了《关于以集中竞价交易方式回购公 司股份方案的议案》，拟使用自有资金和自筹资金（商业银行回购专项贷款）以 集中竞价交易方式回购公司部分社会公众股份，本次回购股份将用于实施股权激 励计划或员工持股计划。回购的资金总额不低于人民币 5,000 万元（含），不超 过人民币 8,000 万元（含）。回购价格不超过人民币 14 元/股（含本数，不超过 董事会审议通过本次回购股份决议前 30 个交易日公司股票交易均价的 150%）。 实施期限自董事会审议通过本次回购股份方案之日起不超过 12 个月。具体情况 详见公司于 2025 年 4 月 30 日披露在巨潮资讯网（http://www.cninfo.com.cn）的 《关于以集中竞价交易方式回购公司股份方案的公告》。 公司 ...

Core Viewpoint - Yuxin Co., Ltd. has achieved a significant milestone with its subsidiary Huizhou Boke Environmental Protection New Materials Co., Ltd. successfully producing a qualified product with a purity of 99.9% from its 240,000 tons/year phthalic anhydride facility, exceeding national standards [1] Company Summary - The phthalic anhydride production facility is part of the light hydrocarbon comprehensive utilization project (Phase I) [1] - The production equipment is currently operating stably, indicating effective operational management [1]

（文章来源：证券日报） 证券日报网讯宇新股份8月26日在互动平台回答投资者提问时表示，截至2025年8月20日收盘，公司股东 人数为15，555户。 ...

2025年8月26日，宇新股份(002986.SZ)发布2025年半年度报告。截至2025年8月25日，共有3个机构投资 者披露持有宇新股份A股股份，合计持股量达2056.67万股，占宇新股份总股本的5.36%。其中，机构投 资者包括广东恒健国际投资有限公司、珠海阿巴马私募基金投资管理有限公司-阿巴马悦享红利58号私 募证券投资基金、嘉实产业优选混合(LOF)A，机构投资者合计持股比例达5.36%。保持未变。 ...

Core Viewpoint - The company, Guangdong Yuxin New Energy Technology Co., Ltd., has approved a proposal to conduct foreign exchange hedging business with a limit of up to 750 million RMB or equivalent foreign currency to mitigate foreign exchange risks and enhance financial stability [1][2]. Business Reasons and Overview - The company aims to increase foreign exchange hedging activities due to the growing scale of foreign exchange income and expenditure in its operations, influenced by international political and economic factors, leading to increased exchange rate and interest rate volatility [2]. - The hedging limit is set at 750 million RMB, which can be used in a rolling manner within a 12-month period from the board's approval [2]. - The hedging will be limited to currencies that match the company's primary settlement currencies, such as USD and EUR, and will involve transactions with qualified financial institutions [2]. Compliance with Approval Procedures - The foreign exchange hedging business has been approved through the necessary meetings, including an independent director meeting and board meetings, and does not require shareholder approval as it falls within the board's authority [3]. Risk Analysis and Control Measures - The company acknowledges potential risks associated with the hedging activities, including exchange rate fluctuations, internal control risks, counterparty default risks, customer default risks, and legal risks [4]. - To mitigate these risks, the company will adhere to a prudent approach, enhance currency research, establish a management system for hedging activities, and ensure strict compliance with operational procedures [5]. Positive Impact on the Company - The proposed hedging activities are closely aligned with the company's operational needs, enhancing its ability to manage foreign exchange volatility and improving financial stability without harming the interests of the company and its shareholders [6]. Support from Stakeholders - Independent directors and the company's sponsor, Guotou Securities Co., Ltd., support the hedging proposal, stating it effectively mitigates exchange rate risks and aligns with the company's operational requirements [7].

Group 1 - The core viewpoint of the article is that Yuxin Co., Ltd. (002986.SZ) reported a decline in both revenue and net profit for the first half of 2025, indicating financial challenges [1] Group 2 - The company's operating revenue for the first half of 2025 was 3.444 billion yuan, a year-on-year decrease of 7.62% [1] - The net profit attributable to shareholders of the listed company was 21.7557 million yuan, a year-on-year decrease of 89.24% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 18.951 million yuan, a year-on-year decrease of 89.95% [1] - The basic earnings per share were 0.0573 yuan [1]

格隆汇8月25日丨宇新股份(002986.SZ)公布2025年半年度报告，上半年公司实现营业收入34.44亿元，同 比下降7.62%；归属于上市公司股东的净利润2175.57万元，同比下降89.24%；归属于上市公司股东的扣 除非经常性损益的净利润1895.10万元，同比下降89.95%；基本每股收益0.0573元。 ...