证券日报网讯九洲集团（300040）9月1日在互动平台回答投资者提问时表示，2025年上半年签单量高于 同期，原收入确认时点不同，所以部分收入没在半年报中体现。 ...

Core Viewpoint - The announcement of a monthly payment mechanism for renewable energy subsidies marks the end of the funding shortage era for the renewable energy sector, providing stability and confidence for long-term development [1][2] Group 1: Policy Impact - The Ministry of Finance issued a notification on June 16, 2025, establishing a monthly payment mechanism for renewable energy subsidies, prioritizing wind and solar projects [1] - This policy is expected to accelerate subsidy payments, alleviating the financial pressure faced by renewable energy companies [1] Group 2: Company-Specific Developments - Harbin Jiuzhou Group received a total of 193.54 million yuan in renewable energy price subsidies for its projects in August 2025, significantly boosting cash flow and operational capacity [1][2] - The company confirmed that the subsidy amounts have been recognized in the corresponding annual electricity revenue, indicating minimal impact on current income and profit [2] - As of June 30, 2025, the company reported 1.203 billion yuan in receivables, with 1.167 billion yuan attributed to renewable energy subsidies, indicating a strong reliance on these funds for operational stability [2]

| 证券代码：300040 | 证券简称：九洲集团 | 公告编号：2025-081 | | --- | --- | --- | | 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 关于部分新能源电站收到可再生能源发电补贴的公告 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、误导性陈述或重大遗漏。 哈尔滨九洲集团股份有限公司持有的部分新能源电站于 2025 年 8 月份陆续 收到可再生能源发电补贴，详细情况如下表： | 项目名称 | 2025 年 8 月补贴回款金额 | | --- | --- | | | (万元) | | 大庆世纪锐能风力发电投资有限公司 | 5,493.03 | | 大庆时代汇能风力发电投资有限公司 | 5,298.51 | | 莫力达瓦达斡尔族自治旗九洲纳热光伏扶贫有限责任公司 | 1,268.33 | | 莫力达瓦达斡尔族自治旗九洲太阳能发电有限责任公司 | 4,382.64 | | 富裕九洲环境能源有限责任公司 | 1,142.39 | | 贵州关岭国风新能源有限公司 | 937.12 | | 泰来立志光伏发电有限公司 | ...

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 ...