Core Viewpoint - ST New Power Technology Co., Ltd. (ST New Power) has shown significant improvement in its financial performance for the first half of 2025, with a notable 25.91% year-on-year increase in net profit attributable to shareholders, driven by cost reduction and efficiency enhancement initiatives [1][2]. Financial Performance - In the first half of 2025, ST New Power reported a net profit of -7.29 million yuan, a substantial improvement from -9.83 million yuan in the same period last year, indicating a strong recovery in profitability [2]. - The core business segment, "Clean Combustion and Boiler Energy Efficiency Improvement," achieved revenue of 92.65 million yuan with a gross margin of 27.37%, up 3.64% year-on-year, reflecting improved product pricing power and cost control [2]. - The company successfully reduced various expenses, with sales expenses down 18.89% to 5.62 million yuan, management expenses down 4.58% to 27.32 million yuan, and financial expenses down 19.52% to 1.80 million yuan, enhancing profit margins [2]. - As of June 30, total assets reached 747 million yuan, with net assets attributable to shareholders at 235 million yuan, maintaining a solid financial foundation amid industry fluctuations [2]. Innovation and Policy Support - ST New Power holds 338 national invention patents and has established high-end R&D platforms, including an academician workstation and a national postdoctoral research station, with three new patents granted during the reporting period [3]. - R&D investment reached 4.19 million yuan, a 1.10% increase year-on-year, fueling ongoing innovation [3]. - The company is involved in key national R&D projects, including the "Megawatt-level Hydrogen-Ammonia Burner," positioning itself at the forefront of clean combustion technology [3]. - Benefiting from national "dual carbon" strategies and various supportive policies, the company anticipates increased market demand for its leading products, such as low-nitrogen burners and industrial waste gas treatment solutions [3]. Strategic Achievements - In the first half of 2025, ST New Power secured new orders worth 131 million yuan in energy-saving and environmental protection projects, with a substantial order backlog of 465 million yuan, ensuring clear revenue growth for the next 1-2 years [4]. - The core subsidiary, Xuzhou Combustion Control Research Institute Co., Ltd., generated revenue of 95.03 million yuan and a net profit of 9.94 million yuan, becoming a key contributor to the company's profitability [4]. - The subsidiary benefits from a 15% corporate income tax rate as a high-tech enterprise, further enhancing overall profitability [4]. - The company has established a rectification leadership group to address regulatory concerns, improve internal controls, and strengthen management mechanisms for its subsidiaries, laying a solid foundation for sustainable development [4].

Core Viewpoint - Company A, also known as Shanghai New Power Automotive Technology Co., Ltd., is facing significant challenges due to the financial difficulties of its wholly-owned subsidiary, SAIC Hongyan, which has led to a substantial decline in sales and revenue. The company is currently undergoing a restructuring process to address these issues and mitigate debt risks [3][4]. Group 1: Financial Performance - In the first half of 2025, the company sold 86,265 diesel engines, representing a year-on-year increase of 13.60%. However, due to the operational difficulties faced by SAIC Hongyan, the company reported a total revenue of 2.829 billion yuan, a decrease of 23.80% year-on-year [3]. - The net profit attributable to the parent company was -301 million yuan, an improvement from -689 million yuan in the same period last year, indicating a reduction in losses [3]. Group 2: Restructuring of SAIC Hongyan - On July 1, 2025, creditors filed for the bankruptcy reorganization of SAIC Hongyan due to its inability to repay debts, leading to a court ruling on July 18, 2025, that accepted the reorganization application [3][4]. - The company is actively cooperating with the court and the appointed managers to ensure operational stability and protect stakeholder interests during the restructuring process [4]. Group 3: Fundraising and Investment Projects - The company raised approximately 1.999 billion yuan through a non-public offering of shares, with a net amount of about 1.981 billion yuan after deducting issuance costs [18][19]. - As of June 30, 2025, the company had used 1.067 billion yuan of the raised funds, with a remaining balance of 721 million yuan [20][34]. - Several investment projects have been postponed, including the D25 high-performance diesel engine project and the 12VK power station product development project, due to market demand and operational challenges [35][36]. Group 4: Impact of Legal Issues - SAIC Hongyan's high debt ratio and difficulties in receivables collection have led to court-ordered freezes on its funds, affecting its ability to proceed with certain projects [29]. - The company has stated that the restructuring and legal issues will not significantly impact its non-heavy truck business, but the overall effect on consolidated financial statements will depend on the outcome of the restructuring [4][29].

Core Viewpoint - The report highlights the financial performance and operational status of Xiong'an New Power Technology Co., Ltd. for the first half of 2025, indicating a decline in revenue and net profit, while emphasizing the company's focus on energy-saving combustion technology and its alignment with national policies promoting green development [1][3][6]. Financial Performance - The company's operating revenue for the reporting period was approximately 96.96 million yuan, a decrease of 5.66% compared to the same period last year [4][10]. - The net profit attributable to shareholders was approximately -7.29 million yuan, showing an improvement of 25.91% from -9.83 million yuan in the previous year [4][10]. - The net cash flow from operating activities was -16.57 million yuan, a significant decline of 77.56% compared to -9.33 million yuan in the previous year [4][10]. - Basic and diluted earnings per share were both -0.0102 yuan, reflecting a 26.09% improvement from -0.0138 yuan in the previous year [4][10]. Business Overview - The company specializes in energy-saving combustion technology, providing solutions for various industries including power generation, petrochemicals, metallurgy, and municipal services [6][7]. - The main products include energy-saving ignition devices and combustion control systems, with a focus on low-nitrogen burners and industrial flue gas treatment solutions [7][8]. Industry Context - The energy-saving combustion and industrial waste gas treatment sectors are receiving strong support from national policies, which emphasize green development and technological innovation [8][9]. - The market demand for energy-saving equipment is steadily increasing due to stricter energy efficiency standards and pollution emission limits in high-energy-consuming industries [8][9]. - The rapid development of the renewable energy sector is creating new growth opportunities for the company, particularly in biomass energy utilization and oxygen-enriched combustion technologies [8][9]. Competitive Advantage - The company holds 338 national invention patents and has established a significant research and development platform, which enhances its competitive edge in the high-end market [9][10]. - The company has a strong technical innovation capability supported by a well-equipped combustion testing laboratory, enabling it to conduct various combustion experiments under real-world conditions [9][10]. Research and Development - The company is actively engaged in several R&D projects, including the development of new intelligent flame detection systems and hydrogen-ammonia combustion technologies [9][10]. - The R&D investment for the reporting period was approximately 4.19 million yuan, reflecting a slight increase of 1.10% from the previous year [10].

股） -0.0102 -0.0138 26.09% | 加权平均净资产收益 | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 率 | | | | | -3.06% | | | -3.11% | | 0.05% | | | | | | | | | | | | 本报告期末 | | 比上年度 | | | | | | | | | | | | | | | | | 本报告期末 | | | 上年度末 | | | | | | | | | | | | | | 末增减 | | 总资产（元） | | | | | | 746,583,120.85 | | | | | | 756,173,917.29 | | | -1.27% | | | | | | | | | | | 归属于上市公司股东的净资产（元） | | | | | 235,542,733.60 | | | | | 240,519,821.94 | | | -2.07% | | | | | | | | | | | | | | | | | | | ...

证券代码：300152 证券简称：ST 新动力 公告编号：2025-047 雄安新动力科技股份有限公司 第五届董事会第三十八次会议决议公告 雄安新动力科技股份有限公司(以下简称"公司或新动力")于 2025 年 8 月 十八次会议。本次会议通知已于 2025 年 8 月 25 日以电话、短信、电子邮件等方 式向公司全体董事发出。 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。 本次会议由董事长程芳芳女士召集并主持，本次会议应出席董事 7 人，实际 出席董事 7 人，公司全体监事、高级管理人员列席了本次会议。本次会议的召集、 通知、召开和表决程序均符合《公司法》等有关法律、行政法规、规范性文件、 部门规章及《公司章程》的有关规定，会议合法、有效。 二、董事会会议审议情况 （一）审议通过《关于<2025 年半年度报告>全文及其摘要的议案》 根据相关法律、法规及《公司章程》的规定，公司《2025 年半年度报告》 全文及摘要真实、公允地反映了公司 2025 年上半度的财务状况、经营成果和现 金流量，不存在虚假记载、误导性陈述或重大遗漏。 审计委员会已对本议案进行了审议 ...

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。 特别提示： 证券代码：300152 证券简称：ST 新动力 公告编号：2025-049 雄安新动力科技股份有限公司 雄安新动力科技股份有限公司（以下简称"公司"）根据财政部颁布的《企 业会计准则解释第 17 号》（财会[2023]21 号）及《企业会计准则解释第 18 号》 （财会[2024]24 号）的相关要求，变更公司有关会计政策。本次会计政策变更 对公司报表无影响。 根据《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》等有关规定，公司本次会计政策变更是公司依据法律法规和国家统一 的会计制度要求进行的变更，不属于公司自主变更会计政策的情形，不会导致公 司已披露的年度财务报告出现盈亏性质改变，未对公司当期的财务状况、经营成 果和现金流量产生影响，也不涉及以前年度追溯调整，无需提交公司董事会和股 东会审议。 相关会计政策变更的具体情况如下： 一、本次会计政策变更概述 （一）变更的原因及变更时间 号），规定了"关于不属于单项履约义务的保证类质量保证的会计处理"的内容， 该解释规定自印发之 ...

Core Viewpoint - The company has reported significant non-operating fund occupation and financial assistance among its subsidiaries, indicating potential liquidity issues and inter-company financial dependencies [2][3][4]. Summary by Relevant Sections Non-Operating Fund Occupation - The total non-operating fund occupation amounts to 55,168.58 million, with a cumulative annual occupation of 9,443.13 million and a half-year occupation of 36,581.97 million [4]. - The company has various subsidiaries involved in non-operating fund occupations, including significant amounts from subsidiaries like Xuzhou Kairong and Beijing Kairong [3][4]. Financial Assistance - Financial assistance provided to subsidiaries includes amounts such as 4,294.74 million from Xiong'an Kairong Intelligent Environmental Protection and 18,833.54 million from Kairong (Nanjing) Ecological Resource Development [2][3]. - The financial assistance indicates a reliance on inter-company funding, with some subsidiaries showing substantial receivables and payables [3][4]. Related Party Transactions - The company has multiple related party transactions, with significant amounts recorded under other receivables and payables, highlighting the interconnected financial relationships among its subsidiaries [3][4]. - The nature of these transactions is primarily non-operating, which raises concerns about the sustainability of these financial practices [4].

Group 1 - ST New Power (SZ 300152) announced the convening of its 38th meeting of the fifth board of directors on August 25, 2025, to review the proposal regarding the full text and summary of the 2025 semi-annual report [1] - For the year 2024, ST New Power's revenue composition is as follows: energy conservation and environmental protection accounts for 97.01%, while other businesses account for 2.99% [1] - As of the report date, ST New Power has a market capitalization of 2.1 billion yuan [1] Group 2 - A veterinary medicine PhD has leased 25,000 acres of "experimental fields" in Africa, achieving a first-season yield of 250 jin per acre, with plans to expand to 100,000 acres [1] - The monthly salary for hiring personnel for this agricultural initiative ranges from 10,000 to 20,000 yuan [1]

证券代码：300152 证券简称：ST 新动力 公告编号：2025-048 第五届监事会第二十三次会议决议公告 三、备查文件 本公司及监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。 一、监事会会议召开情况 雄安新动力科技股份有限公司(以下简称"公司")第五届监事会第二十三次 会议通知于 2025 年 8 月 25 日以电话、短信、电子邮件等方式向公司全体监事发 出。会议于 2025 年 8 月 25 日以现场结合通讯的方式召开。本次会议应参会监事 3 名，实际参会监事 3 名。本次会议由公司监事会主席毛闯先生召集并主持。本 次会议的召集、召开及表决程序符合有关法律、行政法规、部门规章、规范性文 件及《公司章程》的规定。 二、监事会会议审议情况 （一）审议通过《关于<2025 年半年度报告>全文及其摘要的议案》 经审核，监事会认为：董事会编制和审议《2025 年半年度报告》全文及其 摘要的程序符合法律、行政法规及中国证监会的规定，报告内容真实、准确、完 整地反映了公司 2025 年半年度的实际经营和财务状况，不存在任何虚假记载、 误导性陈述或者重大遗漏。 具体内容详见公 ...

证券代码：300152 证券简称：ST 新动力 公告编号：2025-047 雄安新动力科技股份有限公司 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。 具体内容详见公司于同日在巨潮资讯网上（www.cninfo.com.cn）披露的 《2025 年半年度报告》及《2025 年半年度报告摘要》。 表决结果为：7 票同意，0 票反对，0 票弃权，本议案获得通过。 第五届董事会第三十八次会议决议公告 一、董事会会议召开情况 雄安新动力科技股份有限公司(以下简称"公司或新动力")于 2025 年 8 月 25 日（星期一）在公司会议室以现场结合通讯的方式召开了第五届董事会第三 十八次会议。本次会议通知已于 2025 年 8 月 25 日以电话、短信、电子邮件等方 式向公司全体董事发出。 本次会议由董事长程芳芳女士召集并主持，本次会议应出席董事 7 人，实际 出席董事 7 人，公司全体监事、高级管理人员列席了本次会议。本次会议的召集、 通知、召开和表决程序均符合《公司法》等有关法律、行政法规、规范性文件、 部门规章及《公司章程》的有关规定，会议合法、有效。 二、董事会会 ...