星辉环保材料股份有限公司 证券代码：300834 证券简称：星辉环材 公告编号：2025-029 星辉环保材料股份有限公司 2025年半年度权益分派实施公告 本公司及董事会全体人员保证信息披露的内容真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏。 特别提示： 1、根据《中华人民共和国公司法》规定，星辉环保材料股份有限公司（以下简 称"公司"）通过回购专用证券账户持有的公司股份 5,381,172 股不享有参与本次 权益分派的权利。公司 2025 年半年度权益分派方案为：以公司现有总股本剔除已回 购股份 5,381,172 股后的 188,331,181 股为基数，按照分配比例不变的原则，向全 体股东每 10 股派 0.50 元人民币现金（含税），不送红股，不以公积金转增股本， 共计派发现金股利 9,416,559.05 元，剩余未分配利润结转至以后年度分配。 2、因公司回购专用证券账户上的股份不参与本次权益分派，公司本次实际现金 分红的总金额=实际参与分配的股本×每股派发现金，即 9,416,559.05 元 =188,331,181 股×0.05 元/股。按公司总股本（含回购股份）折算的每 10 ...

Group 1: Investor Relations Activity - The investor relations activity was held on September 19, 2025, via an online platform, focusing on performance explanation [2] - The meeting was attended by key company executives, including the Chairman and General Manager [2] Group 2: Dividend Policy - The company plans to implement a mid-year dividend in 2025, distributing RMB 0.50 per 10 shares (including tax) [2][3] - Since its listing in 2022, the company has distributed a total of over RMB 580 million in cash dividends [4] Group 3: Financial Performance and Management - The company reported a net profit of RMB 97.21 million for the year 2024 [3] - The company raised RMB 2.6 billion, with RMB 300 million used for actual investments, RMB 1.1 billion for working capital, and RMB 1 billion for financial management [3] - Concerns were raised regarding declining sales revenue and profits, with suggestions to use financial management funds for stock buybacks [3] Group 4: Future Plans and Technology Integration - The company is integrating smart manufacturing technologies, including DCS for real-time monitoring and data collection [3] - There are no current plans to use excess funds for stock buybacks, but the company will comply with legal disclosure obligations if such plans arise [4]

Group 1 - The core viewpoint of the news is that Xinghui Environmental Materials Co., Ltd. has experienced a decline in stock performance and financial metrics, indicating potential challenges in its business operations [1][2]. - On September 12, Xinghui Environmental Materials' stock fell by 1.33%, with a trading volume of 43.78 million yuan. The net financing purchase on that day was 2.16 million yuan, with a total financing and securities balance of 54.27 million yuan, which is 1.18% of its market capitalization [1]. - The company has a high financing balance, exceeding the 70th percentile of the past year, indicating a relatively elevated level of leverage [1]. - As of June 30, the number of shareholders increased by 11.06% to 25,500, while the average circulating shares per person decreased by 9.96% to 2,703 shares [2]. Group 2 - For the first half of 2025, Xinghui Environmental Materials reported a revenue of 666 million yuan, a year-on-year decrease of 19.47%, and a net profit attributable to shareholders of 25.98 million yuan, down 48.14% year-on-year [2]. - Since its A-share listing, the company has distributed a total of 581 million yuan in dividends, with 154 million yuan distributed over the past three years [2]. - The company's main business involves the research, production, and sales of high polymer synthetic materials, specifically polystyrene (PS), with HIPS products accounting for 56.55% and GPPS products for 42.57% of its revenue [1].

申港证券股份有限公司 关于星辉环保材料股份有限公司 2025 年半年度跟踪报告 | 保荐人名称：申港证券股份有限公司 | 被保荐公司简称：星辉环材 | | --- | --- | | 保荐代表人姓名：潘杨阳 | 联系电话：021-20639666 | | 保荐代表人姓名：欧俊 | 联系电话：021-20639666 | 一、保荐工作概述 | 项目 | 工作内容 | | --- | --- | | 1、公司信息披露审阅情况 | | | （1）是否及时审阅公司信息披露文件 | 是 | | （2）未及时审阅公司信息披露文件的次数 | 0 次 | | 2、督导公司建立健全并有效执行规章制度的 | | | 情况 | | | （1）是否督导公司建立健全规章制度（包括 | | | 但不限于防止关联方占用公司资源的制度、募 | 是 | | 集资金管理制度、内控制度、内部审计制度、 | | | 关联交易制度） | | | （2）公司是否有效执行相关规章制度 | 是 | | 3、募集资金监督情况 | | | （1）查询公司募集资金专户次数 | 次（每月查询） 6 | | （2）公司募集资金项目进展是否与信息披露 | 是 | | ...

Financial Performance - The company reported a net profit of 25.98 million yuan for the first half of 2025, a decrease of 48.14% year-on-year [1] - Total operating revenue for the same period was 666 million yuan, down 19.47% compared to the previous year [1] - The gross profit margin fell to 2.87%, a decline of 42.77% year-on-year, while the net profit margin decreased to 3.90%, down 35.60% [1] - In Q2 2025, operating revenue was 344 million yuan, a decrease of 25.75% year-on-year, and net profit was 7.60 million yuan, down 72.91% [1] Cash Flow and Financial Ratios - The company's cash flow situation is concerning, with cash and cash equivalents at 231 million yuan, a drop of 44.79% year-on-year [3] - The return on invested capital (ROIC) for the previous year was 1.14%, indicating weak capital returns [3] - The average operating cash flow over the past three years relative to current liabilities is only 12.41% [3] Product and Market Insights - The company focuses on HIPS (High Impact Polystyrene) and GPPS (General Purpose Polystyrene) products, with HIPS sales revenue increasing by 14.05% year-on-year to 1.007 billion yuan [4] - HIPS products are positioned as high-value, environmentally friendly materials used in various high-end applications, while GPPS is used in toys and packaging [4][5] - The company has developed a unique production technology for HIPS, enhancing efficiency and reducing costs [4] Future Plans and Strategic Direction - The company plans to explore new technologies and materials, focusing on high-value polymer materials [7] - There are intentions to adjust development strategies and explore mergers and acquisitions to enhance profitability and competitive capabilities [7]

Group 1 - The company Xinghui Huan Materials (SZ 300834) announced on August 29 that its 17th meeting of the third board of directors was held on August 28, 2025, to review the proposal for the 2025 semi-annual profit distribution plan [1] - For the year 2024, the company's revenue composition is as follows: 99.3% from the manufacturing of chemical raw materials and chemical products, and 0.7% from property income [1]

Group 1 - The company announced the approval of the profit distribution plan for the first half of 2025 during the 17th meeting of the third board of directors [2]

Core Viewpoint - Xinghui Huan Materials announced the approval of the profit distribution plan for the first half of 2025 during the 16th meeting of the third Supervisory Board [2] Group 1 - The company held its 16th meeting of the third Supervisory Board on August 28 [2] - The meeting reviewed and approved multiple proposals, including the profit distribution plan [2]

Core Viewpoint - Xinghui Environmental Materials (300834.SZ) reported a significant decline in both revenue and net profit for the first half of 2025, indicating potential challenges in its operational performance [1] Financial Performance - The company achieved operating revenue of 666 million yuan, a year-on-year decrease of 19.47% [1] - The net profit attributable to shareholders was 25.98 million yuan, down 48.14% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 24.29 million yuan, a decrease of 40.53% year-on-year [1] - Basic earnings per share were reported at 0.14 yuan [1] Dividend Distribution - The company proposed a cash dividend of 0.50 yuan (including tax) for every 10 shares to all shareholders [1]

Group 1 - The company reported a revenue of 666.02 million yuan for the first half of 2025, a year-on-year decrease of 19.47% [1] - The net profit for the same period was 25.98 million yuan, reflecting a year-on-year decline of 48.14% [1] Group 2 - The company has initiated a mid-term dividend distribution plan for the first half of 2025, proposing a cash dividend of 0.50 yuan per 10 shares, totaling 9.42 million yuan, which accounts for 36.25% of the net profit attributable to shareholders [2] - Since its listing, the company has distributed a total of over 580 million yuan in dividends, emphasizing its commitment to shareholder value [2] Group 3 - The industry is expected to see improvements in supply-demand dynamics due to recent domestic demand stabilization policies, despite ongoing challenges from intensified competition and declining product prices [3] - The government has introduced measures to combat "involution" in the chemical industry, aiming to reduce excessive competition and promote the exit of outdated production capacity [3] - As a result of these reforms, the competitive environment for quality enterprises in the industry is anticipated to improve, with a slowdown in fixed asset investment growth reducing the impact of new capacity on market supply [3]