Financial Performance - The estimated net profit for Q1 2025 is projected to be between 20 million and 24 million CNY, representing a year-on-year growth of 45.55% to 74.66% compared to 13.74 million CNY in the same period last year [2]. - The net profit after deducting non-recurring gains and losses is expected to be between 19 million and 23 million CNY, indicating a significant increase of 335.62% to 427.33% from 4.36 million CNY in the previous year [2]. - Basic earnings per share are anticipated to be between 0.10 CNY and 0.12 CNY, up from 0.07 CNY in the same period last year [2]. Market Recovery - The substantial increase in net profit is primarily attributed to the recovery of the market in Shanxi Province, with significant growth in exports and orders from outside the province [4]. - Sales of detonators have surged by 464% year-on-year, contributing to the overall increase in business orders [4].

Financial Performance - Total operating revenue for 2024 was CNY 1,101.45 million, a decrease of 16.17% compared to the previous year[3] - Total profit for the year was CNY 169.46 million, down 32.91% year-over-year[3] - Net profit attributable to shareholders was CNY 142.19 million, a decline of 30.53% from the previous year[3] - Basic earnings per share decreased to CNY 0.71, down 30.39% compared to CNY 1.02 in the previous year[3] Assets and Equity - Total assets at the end of the reporting period were CNY 2,036.84 million, an increase of 4.75% from the beginning of the period[5] - Shareholders' equity attributable to the company increased by 5.90% to CNY 1,379.26 million[5] - The net asset value per share rose to CNY 6.90, reflecting a 5.90% increase year-over-year[5] Market Conditions - The primary reason for the decline in operating performance was the temporary downturn in the provincial market due to the suspension of local mining operations[5] Financial Reporting - The financial data presented is preliminary and has not been audited, with final figures to be disclosed in the annual report[7] - The company did not provide prior earnings forecasts for the 2024 fiscal year[6]

Core Viewpoint - The company Huahua Co., Ltd. (stock code: 003002) expects a significant increase in net profit for the first quarter of 2025, driven by market recovery and increased orders [1] Financial Performance - The projected net profit attributable to shareholders for the period from January 1, 2025, to March 31, 2025, is estimated to be between 20 million yuan and 24 million yuan, representing a year-on-year growth of 45.55% to 74.66% [1] - The net profit after deducting non-recurring gains and losses is expected to be between 19 million yuan and 23 million yuan, showing a substantial year-on-year increase of 335.62% to 427.33% [1] - The basic earnings per share are projected to be between 0.1 yuan and 0.12 yuan [1] Market Dynamics - The growth in performance is primarily attributed to the gradual recovery of the market in Shanxi Province, along with significant increases in export and out-of-province markets [1] - There has been a notable increase in business orders, particularly with the sales volume of detonators increasing by 464% year-on-year [1]

Core Viewpoint - The company Huahua Co., Ltd. (stock code: 003002) reported a decline in both total revenue and net profit for the fiscal year 2024 compared to the previous year [1] Financial Performance - The total operating revenue for 2024 was 1.101 billion yuan, representing a year-on-year decrease of 16.17% [1] - The net profit attributable to shareholders of the listed company was 142 million yuan, down 30.53% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 132 million yuan, a decrease of 27.87% year-on-year [1] - The basic earnings per share were 0.71 yuan, reflecting a year-on-year decline of 30.39% [1] - The weighted average return on net assets was 10.63%, which is a decrease of 6.22% compared to the previous year [1]

Company Overview - The main products of Shanxi Huhua Group Co., Ltd. include industrial detonators, explosives, and blasting devices, widely used in mining, transportation, water conservancy, construction, oil exploration, and defense engineering [1] - The company has one detonator production base and six explosive production bases, offering a diverse range of products to meet market demands [1] - Huhua Explosive, a wholly-owned subsidiary, holds dual-level qualifications for engineering blasting and mining engineering construction, serving various infrastructure projects [1] - The company has a strong presence in the military sector, holding "four military certificates" and engaging in the research, production, and sales of military products [1] Industry Overview - The civil explosive industry, including industrial detonators and explosives, plays a crucial role in mining, metallurgy, transportation, water conservancy, electricity, and construction [2] - In 2024, the total production and sales value of civil explosive enterprises reached CNY 416.95 billion and CNY 411.42 billion, respectively, showing a year-on-year decline of 4.50% and 5.26% [2] - The main business revenue for the industry was CNY 450.67 billion, down 9.33% year-on-year, while total profits increased by 13.04% to CNY 96.39 billion [2] - The production of industrial explosives was 4.4937 million tons, a decrease of 1.90% year-on-year, while the production of industrial detonators was 672 million units, down 7.18% [2] Production Capacity and Mix - After restructuring Tian Ning Company, the current explosive production capacity is 114,000 tons, with a mixed explosive capacity of 40,000 tons, accounting for over 35% [3] - The company can achieve a single-line capacity of 12,000 tons per year, meeting the requirements set by the Ministry of Industry and Information Technology [3] Industry Transformation and Upgrades - The Ministry of Industry and Information Technology has issued guidelines to accelerate the digital transformation of the civil explosive industry, emphasizing automation and digitalization [3] - By 2027, the goal is for over 50% of enterprises to achieve a smart manufacturing maturity level of 3 or above, with a 90% CNC rate for key processes [4] - The industry aims to enhance its technological innovation system and improve product quality, with all civil explosive production enterprises expected to complete quality management evaluations by 2026 [4] Supply-Side Structural Reform - The civil explosive industry has made progress in restructuring and optimizing its industrial structure, but challenges remain, including regional and structural imbalances [5] - The guidelines encourage cross-regional and cross-ownership mergers and acquisitions among civil explosive enterprises to reduce risks and enhance competitiveness [5]

Group 1: Company Overview - The main products of Shanxi Huhua Group Co., Ltd. include industrial detonators, explosives, and detonating devices, widely used in mining, transportation, water conservancy, construction, oil exploration, and national defense projects [1] - The company has one detonator production base and one explosive production base, with a complete range of products to meet diverse market demands [1] - Huhua Explosives, a wholly-owned subsidiary, has dual-level qualifications for engineering blasting and mining engineering construction, providing comprehensive services in blasting operations [1] Group 2: Industry Overview - The civil explosive industry, including industrial detonators and explosives, plays an irreplaceable role in basic industries and large infrastructure projects [2] - In 2023, civil explosive production enterprises achieved a total production and sales value of 41.695 billion yuan and 41.142 billion yuan, respectively, down 4.50% and 5.26% year-on-year [2] - The total revenue from main business activities was 45.067 billion yuan, a year-on-year decrease of 9.33%, while the total profit increased by 13.04% to 9.639 billion yuan [2] Group 3: Production Capacity and Trends - The company currently has an explosive production capacity of 78,000 tons, with mixed explosives capacity at 26,000 tons, accounting for 33.33% [3] - In 2024, 14 provinces in China saw a year-on-year increase in industrial explosive production, with four provinces exceeding a 10% increase [2] - The production and sales of industrial explosives were 4.4937 million tons and 4.4850 million tons, respectively, down 1.90% and 1.70% year-on-year [2] Group 4: Industry Transformation and Upgrades - The Ministry of Industry and Information Technology issued guidelines to accelerate the digital transformation of the civil explosive industry, emphasizing automation and digital technology integration [3][4] - By the end of 2027, over 50% of enterprises are expected to achieve a maturity level of 3 or above in smart manufacturing capabilities [3] - The guidelines also aim to enhance the industry’s technological innovation system and improve product quality, with all civil explosive production enterprises expected to complete quality management evaluations by the end of 2026 [4] Group 5: Structural Reforms - The civil explosive industry has made progress in restructuring and optimizing its industrial structure during the 14th Five-Year Plan period, but challenges remain [4] - Measures include encouraging cross-regional and cross-ownership mergers and acquisitions among civil explosive enterprises to reduce risks and enhance competitiveness [5]

证券代码：003002 证券简称：壶化股份 公告编号：2025-014 山西壶化集团股份有限公司 关于回购股份完成暨股份变动的公告 本公司及董事会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。 山西壶化集团股份有限公司（以下简称"公司"或"本公司"）于 2025 年 1 月 9 日召开第四届董事会第十七次会议、第四届监事会第十四次会议，审议通 过了《关于回购公司股份方案的议案》，同意公司使用自有资金以集中竞价交易 的方式回购公司部分已发行的人民币普通股（A 股）股票，回购资金总额不低于 人民币 1,900 万元（含）且不超过人民币 2,000 万元（含），用于实施股权激励 或员工持股计划。回购股份的价格不超过人民币 30 元/股（含）。具体回购股份 的数量以回购期满时实际回购的股份数量为准。公司本次回购股份的期限自董事 会审议通过本次回购股份方案之日起 12 个月内。具体内容详见公司于 2025 年 1 月 10 日在巨潮资讯网（http://www.cninfo.com.cn）刊登的《关于回购公司股 份方案的公告》（公告编号：2025-003）。 截至 2025 年 2 月 17 ...

证券代码：003002 证券简称：壶化股份 公告编号：2025-013 山西壶化集团股份有限公司 2025 年第一次临时股东大会决议公告 本公司及董事会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： 1、本次股东大会召开期间不存在增加、变更、否决议案的情形。 2、本次股东大会采取现场投票表决和网络投票表决相结合的方式进行。 3、本公告中的百分比均保留四位小数，若各分项数值之和、合计数值存在 尾差，均为四舍五入原因。 一、会议召开情况 1、召集人：山西壶化集团股份有限公司（以下简称"公司"）董事会 2、主持人：秦东 3、现场会议召开时间：2025 年 2 月 14 日（星期五）14:30 4、现场会议召开地点：山西省长治市潞州区东海湾大厦-8 楼一号会议室 5、网络投票时间： （1）通过深圳证券交易所交易系统进行网络投票的时间为：2025 年 2 月 14 日 9:15-9:25、9:30-11:30、13:00-15:00； （2）通过深圳证券交易所互联网投票系统投票的时间为：2025 年 2 月 14 日 9:15-15:00 期间的任意时间。 6、召开方式：现场会议 ...

法律意见书 二〇二五年二月 2 北京市中伦律师事务所 关于山西壶化集团股份有限公司 2025 年第一次临时股东大会的 法律意见书 法律意见书 北京市中伦律师事务所 关于山西壶化集团股份有限公司 2025 年第一次临时股东大会的 法律意见书 致：山西壶化集团股份有限公司（以下简称"公司"） 北京市中伦律师事务所（以下简称"本所"）接受公司的委托，指派律师出 席并见证公司2025年第一次临时股东大会（以下简称"本次会议"）。 本所律师根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中 华人民共和国证券法》（以下简称"《证券法》"）、《上市公司股东大会规则》 （以下简称"《股东大会规则》"）、《律师事务所从事证券法律业务管理办法》 （以下简称"《证券法律业务管理办法》"）、《律师事务所证券法律业务执业 规则（试行）》（以下简称"《证券法律业务执业规则》"）等相关法律、行政 法规、部门规章、规范性文件及《山西壶化集团股份有限公司章程》（以下简称 "《公司章程》"）的规定，就本次会议的召集与召开程序、召集人资格、出席 会议人员资格、会议表决程序及表决结果等事宜，出具本法律意见书。 对本法律意见书的出具，本所律 ...

一、回购股份的进展情况 截至 2025 年 1 月 31 日，公司通过回购专用证券账户以集中竞价交易方式累 计回购公司股份 220,000 股，占公司总股本的 0.11%，最高成交价为 22.73 元/ 股，最低成交价为22.42元/股，成交总金额为4,975,137.00元（不含交易费用）。 前述回购符合公司既定的股份回购方案及法律法规要求。 证券代码：003002 证券简称：壶化股份 公告编号：2025-012 山西壶化集团股份有限公司 关于回购公司股份的进展公告 本公司及董事会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。 山西壶化集团股份有限公司（以下简称"公司"或"本公司"）于 2025 年 1 月 9 日召开第四届董事会第十七次会议、第四届监事会第十四次会议，审议通 过了《关于回购公司股份方案的议案》，同意公司使用自有资金以集中竞价交易 的方式回购公司部分已发行的人民币普通股（A 股）股票，回购资金总额不低于 人民币 1,900 万元（含）且不超过人民币 2,000 万元（含），用于实施股权激励 或员工持股计划。回购股份的价格不超过人民币 30 元/股（含）。具体回购股 ...