Core Viewpoint - Jiuzhou Group (300040) reported disappointing financial results for the first half of 2025, with significant declines in revenue and net profit compared to the previous year [1]. Financial Performance - Total revenue for the first half of 2025 was 685 million yuan, a decrease of 7.6% year-on-year [1]. - Net profit attributable to shareholders was 42.82 million yuan, down 46.54% year-on-year [1]. - In Q2 2025, total revenue was 377 million yuan, a decline of 11.01% year-on-year, while net profit was 20.06 million yuan, down 64.19% year-on-year [1]. Key Financial Metrics - Gross margin was 28.62%, a decrease of 12.84% year-on-year [1]. - Net margin was 6.74%, down 40.47% year-on-year [1]. - Total expenses (selling, administrative, and financial) amounted to 165 million yuan, accounting for 24.09% of revenue, an increase of 12.71% year-on-year [1]. - Earnings per share (EPS) was 0.07 yuan, a decrease of 50% year-on-year [1]. - Cash flow per share was 0.04 yuan, down 36.61% year-on-year [1]. Balance Sheet Highlights - Accounts receivable increased to 1.465 billion yuan, up 17.8% year-on-year, representing 98.91% of total revenue [1]. - Interest-bearing liabilities rose to 4.008 billion yuan, an increase of 8.49% year-on-year [1]. - Net asset value per share was 3.89 yuan, down 20.96% year-on-year [1]. Business Evaluation - The company's historical financial performance has been weak, with a median ROIC of 3.68% over the past decade and a particularly poor ROIC of -6.81% in 2024 [3]. - The business model appears fragile, with two years of losses since its IPO and generally mediocre financial results [3]. Cash Flow and Debt Concerns - The cash flow situation is concerning, with cash and cash equivalents representing only 4.61% of total assets and 48.06% of current liabilities [3]. - The interest-bearing debt ratio has reached 34.7%, indicating potential financial strain [3].

8月27日，九洲集团大宗交易成交66万股，成交额461.34万元，占当日总成交额的0.93%，成交价6.99元，较市场收盘价7.7元 折价9.22%。 | 交易日期 | 证券代码 | 证券简称 | 成交价格 | 成交量 | 成交金额 | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | (元) | (万股/万份) | (万元) | | | | 2025-08-27 | 300040 | 九洲集团 | 6.99 | 66.00 | 461.34 | 机构专用 | 东兴证券股份有限 | | | | | | | | | 公司上海肇嘉浜路 | | | | | | | | | 证券营业部 | ...

Group 1 - The core point of the article highlights that Jiuzhou Group has provided external guarantees totaling approximately 3.875 billion yuan, which accounts for 162.71% of its most recent audited net assets [1] - The company has provided guarantees amounting to 350 million yuan to entities outside the consolidated financial statements, representing 14.7% of its most recent audited net assets [1] - For the year 2024, Jiuzhou Group's revenue composition is as follows: intelligent assembly manufacturing business accounts for 32.81%, heating revenue 32.36%, power generation revenue 26.14%, new energy business 7.79%, and other businesses 0.9% [1] Group 2 - The pet industry is experiencing significant growth, with a market size of 300 billion yuan, leading to a surge in stock prices for related listed companies [1]

Core Viewpoint - Jiuzhou Group (300040.SZ) reported a decline in revenue and net profit for the first half of 2025, indicating challenges in its financial performance [1] Financial Performance - The company's operating revenue for the first half of 2025 was 685 million yuan, a year-on-year decrease of 7.60% [1] - The net profit attributable to shareholders of the listed company was 42.815 million yuan, down 46.54% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 43.089 million yuan, showing a year-on-year increase of 65.60% [1] - Basic earnings per share were 0.07 yuan [1]

Group 1 - The core point of the announcement is that Jiuzhou Group needs to pay back taxes totaling 12.83 million yuan, which includes corporate income tax of 9.503 million yuan and late payment penalties of 3.327 million yuan [1] - The company has completed the payment of the aforementioned amounts as of the announcement date, and there are no administrative penalties involved [1] - The tax payment will be recorded in the 2025 financial results, expected to impact the net profit attributable to shareholders by approximately 12.83 million yuan [1] Group 2 - The management of Jiuzhou Group is taking this matter seriously and will enhance tax management practices, including training and awareness initiatives [1] - The company emphasizes that this tax payment issue does not constitute a significant prior accounting error and will not require restatement of previous financial data [1]

Core Viewpoint - Jiuzhou Group (300040.SZ) reported a decline in revenue and net profit for the first half of 2025, indicating challenges in its financial performance [1] Financial Performance - The company achieved an operating income of 685 million yuan, a year-on-year decrease of 7.60% [1] - The net profit attributable to shareholders was 42.815 million yuan, down 46.54% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 43.089 million yuan, showing a year-on-year increase of 65.60% [1] - Basic earnings per share were reported at 0.07 yuan [1]

| 证券代码：300040 | 证券简称：九洲集团 | 公告编号：2025-069 | | --- | --- | --- | | 债券代码：123089 | 债券简称：九洲转2 | | 哈尔滨九洲集团股份有限公司 第八届董事会第二十六次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 哈尔滨九洲集团股份有限公司（以下简称"九洲集团"或"公司"）于 2025 年 8 月 16 日以电子邮件、传真和专人送达方式向全体董事发出召开第八届董事 会第二十六次会议的通知。会议于 2025 年 8 月 26 日在公司会议室以现场及通 讯表决方式召开。会议应参与表决董事 9 名，实际参与表决董事 9 名。 本次会议的召开符合《公司法》等相关法律及《公司章程》的规定。 会议由董事长李寅先生主持，经表决形成如下决议： 根据《深圳证券交易所创业板股票上市规则》、《深圳证券交易所上市公司自 律监管指引第 2 号——创业板上市公司规范运作》等相关法律、法规和规范性文 件，公司董事会将 2025 年半年度募集资金存放与使用情况进行了专项说明，并 出具了《关于 2025 年半 ...

Core Viewpoint - In the first half of 2025, Jiuzhou Group reported significant growth in revenue and net profit, driven by strategic advancements in innovation, green transformation, and efficiency enhancement [1] Group 1: Financial Performance - Jiuzhou Group achieved operating revenue of 685 million yuan and a net profit attributable to shareholders of 42.81 million yuan in the first half of 2025 [1] - The non-recurring net profit attributable to shareholders reached 43.09 million yuan, marking a substantial increase of 65.60% compared to the same period last year [1] Group 2: Strategic Initiatives - The company deepened its "wind and solar energy + smart equipment manufacturing" dual-engine strategy, enhancing the integration of the industrial chain, supply chain, and innovation chain [2] - Jiuzhou Group's biomass sector achieved overall profitability for the first time in the half-year, indicating a fundamental improvement in asset quality [2] - The company optimized its debt structure by utilizing diverse financing tools, successfully obtaining credit limits and replacing high-cost financing, which improved asset yield and liquidity [2] Group 3: Business Development - Jiuzhou Group made significant progress in smart distribution networks, renewable energy installations, and biomass business upgrades, showcasing strong development momentum [3] - The company expanded its market presence by penetrating state-owned enterprises and collaborating with Alibaba to explore international business opportunities [3] - The smart distribution network equipment industry is expected to experience rapid growth from 2025 to 2027, with Jiuzhou Group positioned to benefit from this trend due to its resource advantages and technological capabilities [3] Group 4: Future Outlook - Jiuzhou Group's wind power project in cooperation with Huadian successfully connected to the grid, contributing to new growth points in power generation [4] - The company plans to continue driving innovation and practical support in the green energy sector, solidifying its leading position in the region and contributing to industry upgrades and regional transformation [4]

哈尔滨九洲集团股份有限公司 对外捐赠制度 第一章 总 则 第一条 为推动哈尔滨九洲集团股份有限公司（以下简称"公司"）积极履 行社会责任，规范对外捐赠行为，进一步加强捐赠事项管理根据《中华人民共和 国公益事业捐赠法》《中华人民共和国公司法》等法律、法规及《哈尔滨九洲集 团股份有限公司章程》（以下简称"《公司章程》"）的相关规定，结合公司实 际，特制订本制度。 第二条 本制度适用于公司及公司控股子公司。 第三条 本制度所称"对外捐赠"，是指公司及控股子公司自愿无偿将其有 权处分的合法财产赠送给合法的受赠人，用于与生产经营活动没有直接关系的公 益事业的行为。 第二章 对外捐赠的原则 第四条 自愿无偿：公司对外捐赠后，不得要求受赠方在融资、市场准入、 行政许可、占有其他资源等方面创造便利条件。 第五条 权责清晰：公司经营者或者其他职工不得将公司拥有的财产以个人 名义对外捐赠，公司对外捐赠有权要求受赠人落实自己正当的捐赠意愿，不能将 捐赠财产挪作他用。 公司对外捐赠之前，应按照本制度规定履行相应的决策审批程序，同意后实 施。 第六条 量力而行：公司应在力所能及的范围内，积极参加社会公益活动， 已经发生亏损或者由于对外 ...

董事、高级管理人员所持 哈尔滨九洲集团股份有限公司 本公司股份及其变动管理制度 哈尔滨九洲集团股份有限公司 董事和高级管理人员所持本公司股份 及其变动管理制度 第一章 总则 第一条 为加强哈尔滨九洲集团股份有限公司（以下简称"公司"）董事、 高级管理人员所持本公司股份及其变动的管理，维护证券市场秩序，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》"）、《上市公司董事、高级管理人员所持本公司股份 及其变动管理规则》《深圳证券交易所创业板股票上市规则》《深圳证券交易所 上市公司自律监管指引第 2 号——创业板上市公司规范运作》等有关法律、法规、 规范性文件及《哈尔滨九洲集团股份有限公司章程》（以下简称"公司章程"） 的有关规定，结合公司实际情况，制订本制度。 第二条 本制度适用于公司董事和高级管理人员，其所持本公司股份是指登 记在其名下的所有本公司股份，从事融资交易融券交易的，还包括记载在其信用 账户内的本公司股份。 第三条 本公司董事、高级管理人员和证券事务代表在买卖本公司股票及其 衍生品种前，应当知悉《公司法》《证券法》等法律、《深圳证券交易所上市公 ...