华宝香精股份有限公司 2025 年限制性股票激励计划实施考核管理办法 为进一步建立、健全公司长效激励机制，吸引和留住优秀人才，充分调动公 司董事、高级管理人员、核心管理人员及核心技术、业务人员以及董事会认为需 要激励的其他人员（均为公司或控股子公司的董事或员工）的积极性，有效地将 股东利益、公司利益和核心团队个人利益结合在一起，使各方共同关注公司的长 远发展，在充分保障股东利益的前提下，华宝香精股份有限公司（以下简称"公 司"）按照收益与贡献对等的原则，制定了《华宝香精股份有限公司2025年限制 性股票激励计划（草案）》。 为保证本次限制性股票激励计划能够顺利实施，公司根据《公司法》《证券 法》《上市公司股权激励管理办法》《深圳证券交易所创业板股票上市规则》《深 圳证券交易所创业板上市公司自律监管指南第1号——业务办理》以及其他法律、 法规、规范性文件和《公司章程》的规定，结合公司实际情况，制订了2025年限 制性股票激励计划实施考核管理办法（以下简称"本办法"）。 一、考核目的 通过对激励对象进行工作业绩、能力态度等方面工作绩效的全面评估，保证 公司股权激励计划的顺利进行，同时，健全公司激励对象绩效评价体系 ...

华宝香精股份有限公司 2025 年限制性股票激励计划自查表 | 是否存在该事项 | 序号 | 事项 | 备注 | （是/否/不适用） | | --- | --- | --- | --- | --- | | 否 | 是否存在其他不适宜成为激励对象的情形 | 13 | | | | 是 | 激励名单是否经薪酬与考核委员会/监事会核实 | 14 | | | | 激励计划合规性要求 | | | | | | 上市公司全部在有效期内的股权激励计划所涉及的 | 否 | 15 | | | | 标的股票总数累计是否超过公司股本总额的 | 20% | | | | | 单一激励对象累计获授股票是否超过公司股本总额的 | 否 | 16 | 1% | | | 激励对象预留权益比例是否未超过本次股权激励计 | 17 | 是 | | | | 划拟授予权益数量的 | 20％ | | | | | 激励对象为董事、高级管理人员、单独或合计持股 | | | | | | 5%以上股东或实际控制人及其配偶、父母、子女以及 | 18 | 是 | | | | 外籍员工的，股权激励计划草案是否已列明其姓名、 | | | | | | 职务、获授数量 | | | ...

3、本计划激励对象不包括独立董事、监事，也不包括单独或合计持有公司 5%以上 股份的股东或实际控制人及其配偶、父母、子女。 4、预留部分的激励对象由本激励计划经股东大会审议通过后 12 个月内确定，经董 事会提出、监事会/薪酬与考核委员会发表明确意见、律师发表专业意见并出具法律意 见书后，公司在指定网站按要求及时准确披露激励对象相关信息。 华宝香精股份有限公司 华宝香精股份有限公司 2025 年限制性股票激励计划首次授予激励对象名单 | 姓名 | 职务 | 获授的限制 性股票数量 | 获授限制性股 | 获授限制性股 | | --- | --- | --- | --- | --- | | | | | 票占授予总量 | 票占当前总股 | | | | （万股） | 的比例 | 本比例 | | 一、董事、高级管理人员 | | | | | | 袁肖琴 | 董事、总裁 | 150 | 7.85% | 0.24% | | 李小军 | 董事、副总裁 | 80 | 4.19% | 0.13% | | 韩鹏良 | 董事、副总裁 | 80 | 4.19% | 0.13% | | 侯晓勤 | 副总裁兼董事会秘书 | 65 | 3.4 ...

北京市中伦律师事务所 关于华宝香精股份有限公司 2025 年限制性股票激励计划 的法律意见书 二零二五年八月 法律意见 北京市中伦律师事务所 关于华宝香精股份有限公司 2025 年限制性股票激励计划 的法律意见书 致：华宝香精股份有限公司 北京市中伦律师事务所（以下简称"本所"）接受委托，担任华宝香精股份 有限公司（以下简称"公司"）2025 年限制性股票激励计划相关事宜的专项法 律顾问。本所及经办律师按照律师行业公认的业务标准、道德规范和勤勉尽责精 神，依据本法律意见出具日以前已发生或存在的事实和我国现行法律、法规和中 国证监会的相关规定，就上述事项出具本法律意见书。 公司保证已经提供了本所律师认为出具本法律意见书所必需的、真实的原始 书面材料、副本材料或者口头证言，一切足以影响本法律意见书的事实和文件均 已向本所披露，并无隐瞒、虚假或误导之处。公司保证上述文件和证言真实、准 确、完整，文件上所有签字与印章真实，复印件与原件一致。 本法律意见书仅供公司实施本次激励计划之目的而使用，不得用作任何其他 目的。本所律师同意依法对所出具的法律意见承担责任。 第 1页 | 公司 | 指 | 华宝香精股份有限公司 | ...

Core Insights - The company held a half-year online performance briefing on August 22, 2025, where key executives discussed business development and financial status with investors [1] Group 1: Business Development and Innovations - The company is focusing on health and functional food ingredient innovations, with a new food bead production line launched and steady progress in non-meat thermal reaction material capacity [2] - In the daily fragrance business, the company is expanding its domestic market presence and enhancing R&D efforts, while also establishing connections with international clients [2] Group 2: Financial Performance and R&D Investment - In the first half of 2025, the food flavor business generated sales revenue of 3.19 billion yuan, a year-on-year decrease of 22.54%, with a gross margin of 61.43% [3] - The company invested 71.195 million yuan in R&D during the same period, maintaining a high investment ratio, and has a total of 316 patents, including 176 invention patents [3] Group 3: Business Adjustments and Supply Chain Strategy - The decline in food flavor business revenue is attributed to changes in downstream market demand and proactive adjustments in customer structure [4] - The company is building an integrated supply chain with upstream raw material extraction centers and multiple production bases, while planning for R&D and capacity in Southeast Asia [4] Group 4: Cost Management and International Expansion - The increase in sales and management expenses is mainly due to the termination of stock incentives, and the company plans to enhance cost efficiency through digital transformation [5] - The company is pursuing a dual strategy of "internationalization + localization" to expand into Southeast Asia and Africa, leveraging technological advantages and local consumer trends [5] Group 5: Addressing Profit Decline and Future Projects - To counteract declining profitability, the company is focusing on innovation, market positioning, and digital transformation [6] - Ongoing projects include a new food technology base in Indonesia and a food bead production line, which will serve ASEAN and international markets [6]

Group 1: Business Performance - The revenue from the food flavoring business decreased by 22.54% year-on-year, amounting to 319 million yuan [3][4] - The food ingredient business saw a revenue increase of 4.80%, reaching 196 million yuan [4] - The daily-use fragrance business experienced a revenue growth of 34.47%, totaling 75 million yuan [4] Group 2: Profitability Metrics - The gross profit margin for the food flavoring business was 61.43% [4] - The gross profit margin for the food ingredient business was 27.44% [4] - The gross profit margin for the daily-use fragrance business was 46.93% [4] - The net profit decreased by 87.95%, with core profitability indicators hitting new lows [7] Group 3: Research and Development - The company invested 7,119.50 thousand yuan in R&D, maintaining a high proportion of investment compared to industry peers [4] - The company holds 316 patents, including 134 invention patents and 176 utility model patents [4] - The company has initiated 12 new technology projects and has 29 ongoing projects [4] Group 4: Strategic Initiatives - The company is focusing on innovation and market expansion, particularly in Southeast Asia and Africa [6][7] - Plans to enhance the product structure and develop new products based on market demand, including natural flavoring and innovative products [5][6] - The company aims to strengthen its supply chain and local customer service teams to support international business growth [6][7] Group 5: Financial Management - Sales and management expenses increased by 16.35% and 24.77% respectively, primarily due to the termination of stock incentives [6] - The company is implementing a smart management system to enhance expense control and operational efficiency [6] - Cash flow from operating activities decreased due to reduced sales receipts, while investment cash flow declined due to increased capital expenditures [9] Group 6: ESG and Sustainability - The company integrates ESG principles into its strategic framework, focusing on carbon reduction and sustainable practices [10] - The company has improved its ESG rating from A to AA, reflecting its commitment to sustainable development [10]

Core Insights - The company reported a significant decline in net profit, down 87.95% year-on-year, with total revenue also decreasing by 8.41% [1] - The gross margin fell to 47.78%, a decrease of 11.41% compared to the previous year, while the net margin dropped to 2.95%, down 82.96% [1] - The company is focusing on strategic mergers and acquisitions to enhance its core capabilities and expand its market presence in the food and health sectors [15] Financial Performance - Total revenue for the first half of 2025 was 606 million yuan, compared to 662 million yuan in the same period of 2024, reflecting an 8.41% decline [1] - The net profit attributable to shareholders was 13.42 million yuan, down from 111 million yuan in the previous year, marking an 87.95% decrease [1] - The company’s operating cash flow per share decreased by 24.21%, from 0.17 yuan to 0.13 yuan [1] Cost and Expenses - Total sales, management, and financial expenses amounted to 189 million yuan, accounting for 31.24% of revenue, which is an increase of 13.92% year-on-year [1] - The company’s financial expenses saw a significant decrease of 554.54%, attributed to increased purchases of bank time deposits [7] Asset and Liability Changes - Cash and cash equivalents decreased by 18.97% due to an increase in structured bank deposits [3] - Long-term equity investments dropped by 48.37% as a result of an affiliate becoming a subsidiary [3] - The company’s receivables decreased by 9.92%, with accounts receivable at 344 million yuan [1][3] Strategic Focus - The company aims to be a leader in the "delicious life" sector, focusing on green, nutritious, and healthy products while enhancing its capabilities through strategic acquisitions [15] - There is a particular emphasis on integrating high-value products and companies within the food ingredient sector to strengthen its market position [15]

注：本文结合AI 责任编辑：AI观察员 国内香精行业龙头华宝股份正式发布2025年半年度报告，数据显示公司经营业绩遭遇断崖式下滑。上半 年营业收入6.06亿元，同比下跌8.41%；归母净利润仅1341.89万元，同比暴跌87.95%，创上市以来最大 降幅。每股收益从上年同期的0.18元骤降至0.02元，投资者回报能力几近枯竭。 三大盈利核心指标同步溃败，折射企业盈利体系崩塌。净利率从2024年上半年的17.28%断崖下滑至 2.95% ，毛利率由53.93%萎缩至47.78% ，加权平均净资产收益率更是跌至0.20% ，三项指标均创历史 最低值且连续六年持续下行。期间费用率攀升至42.98%，其中销售费用逆势增长16.35%至6836万元， 管理费用激增24.77%至1.61亿元，进一步吞噬利润空间。 业务结构性矛盾凸显主力品类坍塌风险。占营收63%的食用香精收入同比锐减22.54%，尽管食品配料与 日用香精分别增长4.80%和34.47%，但未能挽救整体营收颓势。经营活动现金流净额萎缩24.21%至7999 万元。 ...

上市保荐机构为浙商证券股份有限公司，保荐代表人为汪建华、洪涛，发行费用总额为6,553.19万元(不 含税)，保荐承销费为3,735.85万元。 华宝股份于2018年3月1日在深圳证券交易所创业板上市，公开发行6,159万股新股，发行价格为38.60元/ 股，本次发行募集资金总额237,737.40万元，扣除发行费用6,553.19万元后的募集资金净额为231,184.21 万元。目前该股处于破发状态。 中国经济网北京8月19日讯华宝股份（300741）(300741.SZ)今日收报18.85元，跌幅4.07%。 ...

Core Insights - Huabao Co., Ltd. reported a significant decline in its operating performance for the first half of 2025, with revenue of 606 million yuan, a year-on-year decrease of 8.41%, and a net profit of 13 million yuan, down 87.95% year-on-year [1][3] - Key profitability indicators, including net profit margin, gross profit margin, and return on equity, reached new lows, indicating severe challenges to the company's profitability [1][3] Financial Performance - The net profit margin fell sharply from 17.28% in the first half of 2024 to 2.95%, marking six consecutive years of decline [3] - The gross profit margin decreased from 53.93% to 47.78%, while the return on equity dropped to only 0.20%, also reflecting a six-year downward trend [3] Operational Stability - The company faces ongoing pressure from deteriorating profitability, with inventory turnover days at 240.93, showing some improvement compared to the previous year [5] - The net cash flow from operating activities was 80 million yuan, a slight decline of 0.26% year-on-year, indicating weak growth despite remaining positive [5] - As of the first half of 2025, the debt-to-asset ratio was 6.68%, down 1.41 percentage points year-on-year, suggesting low financial leverage and manageable debt risk [5] Institutional Holdings - As of the first half of 2025, only one institutional investor held shares in Huabao Co., a significant decrease from 86 in the same period of 2024, reflecting a notable decline in investor confidence [7] - The company's market capitalization peaked at 49.424 billion yuan on November 29, 2021, but has since fallen to 12.102 billion yuan, requiring a 308.40% increase in stock price to return to its historical high, which poses substantial challenges given the current operational difficulties [7]