Core Viewpoint - The expansion of the consumption tax on refined oil products has led to significant tax liabilities for companies, highlighting the need for clarity on which products fall under the tax scope to mitigate tax risks [1][2]. Group 1: Tax Incidents - Two listed companies, Chengzhi Co., Ltd. and Ningbo Bohui Chemical Technology Co., Ltd., have faced substantial tax payments exceeding 100 million yuan due to the recent expansion of the consumption tax scope [1]. - Chengzhi's subsidiary was required to pay approximately 166 million yuan in consumption tax and related penalties, while Bohui reported a total of about 479 million yuan in tax payments [1][2]. Group 2: Regulatory Changes - In June 2023, the Ministry of Finance and the State Taxation Administration issued an announcement that effectively broadened the consumption tax scope for refined oil products, including mixed aromatics and heavy aromatics [2]. - The announcement aims to enhance tax management and promote the healthy development of the refined oil industry, with different tax rates applied to various oil products [2]. Group 3: Disputes and Clarifications - There are disputes between companies and tax authorities regarding whether certain products fall under the consumption tax scope, as seen in Bohui's case where the tax authority classified its heavy aromatic derivatives as taxable [3][4]. - The complexity arises from the diverse nature of chemical products and the potential for tax evasion through product name changes [4]. Group 4: Risk Mitigation Strategies - Companies are advised to assess their products against national and industry standards to determine tax obligations, as outlined by the State Taxation Administration [5]. - The administration has also introduced a temporary management method for testing taxable refined oil products to standardize the detection process and resolve disputes [6]. Group 5: Future Tax Reforms - The government plans to accelerate the reform of the consumption tax system, potentially moving the tax collection process to local levels, which could alleviate financial pressure on production enterprises [6][9]. - Experts suggest that moving the tax collection process could improve local government engagement in tax management, although it may also increase the administrative burden on tax authorities due to a larger number of taxpayers [9].

Core Viewpoint - The company has established a wholly-owned subsidiary, Wuxi Jizhi Liquid Cooling Technology Co., Ltd., with a registered capital of 5 million RMB to optimize its business structure and enhance growth potential [1] Group 1: Company Establishment - The subsidiary was registered with a capital of 5 million RMB and is located in Wuxi City, Huishan District [1] - The legal representative of the subsidiary is Wang Guohua, and the establishment date is June 6, 2025 [1] Group 2: Business Scope - The subsidiary's business scope includes technical services, technical development, and manufacturing of network and communication equipment [1] Group 3: Strategic Implications - Establishing the subsidiary is expected to broaden the company's business layout, achieve synergy among business segments, and strengthen its core competitive advantages [1] - The move is aligned with the company's strategic goals and aims to create new growth opportunities [1]

宁波博汇化工科技股份有限公司（以下简称"公司"）根据公司经营发展及 战略规划，经董事长审批通过，同意使用自有资金人民币 500 万元设立全资子公 司无锡极致液冷科技有限公司，并授权相关人员办理注册登记等事宜。 根据《深圳证券交易所创业板股票上市规则》《公司章程》等相关规定，本 次投资设立全资子公司事项在公司董事长权限内，无需提交公司董事会或股东大 会审议。本次投资不涉及关联交易，也不构成《上市公司重大资产重组管理办法》 规定的重大资产重组。 | 证券代码：300839 | 证券简称：博汇股份 | 公告编号：2025-084 | | --- | --- | --- | | 债券代码：123156 | 债券简称：博汇转债 | | 宁波博汇化工科技股份有限公司 关于设立全资子公司并完成工商注册登记的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 经营范围：许可项目：建筑智能化系统设计（依法须经批准的项目，经相关 部门批准后方可开展经营活动，具体经营项目以审批结果为准) 近日，该全资子公司已完成相关工商注册登记手续，并取得无锡市惠山区数 据局颁发的《营业执照》。 ...

Investment Rating - The report does not explicitly provide an investment rating for the company Core Insights - The company, Bohui Co., has experienced a drastic decline in profitability, with a cumulative loss of 5.1 billion in just two years, erasing nearly 80% of its ten-year accumulated profits of 6.5 billion [15][35] - The significant losses are attributed to changes in tax policies that have imposed new consumption taxes on its main product, heavy aromatic hydrocarbons, which previously benefited from tax exemptions [19][35] - The company has attempted to pivot by producing derivative products to circumvent the new tax regulations, but this strategy has raised concerns with tax authorities [36][44] Summary by Sections Company Background - Bohui Co. has been in the fuel oil deep processing industry for 20 years, primarily producing heavy aromatic hydrocarbons, which are essential for asphalt and rubber [10] - The company saw substantial revenue and profit growth from 2013 to 2022, peaking in 2022 with revenues of 2.97 billion and profits of 152 million [12] Recent Developments - In early 2025, the company announced a change in control, with state-owned Wuxi Guozi acquiring a significant stake [3][5] - The acquisition process involves multiple stages, including share transfer and capital increase, with the original owner set to exit with 263 million [5][7] Financial Performance - In 2023, the company reported a 6.32% decline in revenue to 2.78 billion, with a notable shift to losses due to reduced trade income and increased tax burdens [15] - The new consumption tax policy introduced in June 2023 has drastically affected the company's profitability, leading to a situation where selling its main product results in losses [21][35] Tax Policy Impact - The new tax policy requires the company to pay approximately 2200 per ton in taxes for heavy aromatic hydrocarbons, which significantly exceeds its profit margins [21][22] - The company has attempted to adapt by producing derivative products that are not explicitly covered by the new tax regulations, but this has led to scrutiny from tax authorities [36][44] Strategic Responses - Bohui Co. has reduced production and announced plans to stop producing aromatic series products, citing operational difficulties while simultaneously managing idle funds [29][30] - Despite these challenges, the company has resumed production of its aromatic products, indicating a struggle to maintain operations amid financial pressures [34]

Core Viewpoint - The article discusses the recent acquisition of Bohui Co., Ltd. by Wuxi State-owned Assets, highlighting the company's significant financial struggles and the impact of tax policy changes on its profitability [3][10][32]. Group 1: Acquisition Details - Wuxi State-owned Assets plans to invest 680 million yuan to acquire Bohui Co., Ltd., which has been a topic of public discussion [3]. - The acquisition process involves three stages: transfer of shares, capital increase subscription, and relinquishment of voting rights by the previous owner [8]. - As of May 20, 2025, the first stage of the acquisition has been completed, with the second stage underway [9]. Group 2: Financial Performance - Bohui Co., Ltd. experienced a significant increase in revenue and profit from 2013 to 2022, reaching peak figures of 2.97 billion yuan in revenue and 152 million yuan in profit in 2022 [12][13]. - However, in 2023, the company reported a 6.32% decline in revenue to 2.78 billion yuan and incurred losses of 510 million yuan over two years, erasing 80% of its ten-year accumulated profits [16][32]. Group 3: Tax Policy Impact - The introduction of a new tax policy in June 2023 required Bohui Co., Ltd. to pay consumption tax on its main product, heavy aromatic hydrocarbons, which previously enjoyed tax exemptions [20]. - The new tax burden resulted in a loss of approximately 1,800 yuan for every ton of heavy aromatic hydrocarbons sold, leading to severe financial distress for the company [21][32]. - The company's previous profitability was largely dependent on government tax incentives, raising concerns about its competitive position in the market [26]. Group 4: Strategic Responses - In response to the tax changes, Bohui Co., Ltd. attempted to pivot by producing derivative products of heavy aromatic hydrocarbons, which were not subject to the same tax [33][36]. - Despite these efforts, the company faced scrutiny from tax authorities, leading to a significant tax liability of nearly 500 million yuan for the period from July 2023 to March 2024 [41][42]. - The ongoing financial challenges and strategic missteps have raised questions about the company's long-term viability and operational focus [43].

| 证券代码：300839 | 证券简称：博汇股份 | 公告编号：2025-083 | | --- | --- | --- | | 债券代码：123156 | 债券简称：博汇转债 | | 宁波博汇化工科技股份有限公司 关于子公司注销的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 宁波博汇化工科技股份有限公司（以下简称"公司"）子公司宁波博实企业 管理咨询有限公司及其子公司宁波博承企业管理合伙企业（有限合伙）于近日取 得宁波市镇海区市场监督管理局核发的《登记通知书》，该子公司相关工商注销 登记手续已办理完毕。 本次注销子公司事宜在董事长审批权限范围内，无需提交公司董事会和股东 大会审议。本次注销子公司不涉及关联交易，也不构成《上市公司重大资产重组 管理办法》规定的重大资产重组。 一、注销主体基本情况 1、宁波博实企业管理咨询有限公司 成立日期：2023 年 3 月 9 日 住所：浙江省宁波市镇海区蛟川街道镇骆东路 1818 号 1 幢 2 层 经营范围：一般项目：企业管理咨询；企业管理；品牌管理（除依法须经批 准的项目外，凭营业执照依法自主开展经营活动） ...

| 证券代码：300839 | 证券简称：博汇股份 | 公告编号：2025-082 | | --- | --- | --- | | 债券代码：123156 | 债券简称：博汇转债 | | 宁波博汇化工科技股份有限公司 关于合资公司注销暨终止对外投资进展的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 宁波博汇化工科技股份有限公司（以下简称"公司"）于 2025 年 1 月 20 日召 开了第四届董事会第十八次会议，并于 2025 年 2 月 5 日召开 2025 年第二次临时 股东大会，审议通过了《关于终止与宁波经济技术开发区管理委员会投资合作协 议的议案》，同意终止在青峙化工新材料产业园投资建设 160 万吨/年新材料及 高端化学品一体化项目，并与经济开发区管委会签署《投资终止协议》，提请股 东大会授权公司管理层或其授权人士负责办理终止项目的具体手续，包括但不限 于与有关方签署投资终止协议、解除国有建设用地使用权出让合同、退还土地、 注销子公司等与终止本项目有关的全部事宜。具体内容详见公司于 2025 年 1 月 21 日披露于巨潮资讯网的《关于终止与 ...

关于改选公司部分董事的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事改选原因 2025 年 2 月 10 日，宁波博汇化工科技股份有限公司（以下简称"公司"） 的控股股东宁波市文魁控股集团有限公司（以下简称"文魁集团"）及实际控制 人金碧华、夏亚萍与无锡惠山原鑫曦望产业升级并购投资合伙企业（有限合伙） （以下简称"原鑫曦望合伙"）签署了《关于宁波博汇化工科技股份有限公司之 控制权收购框架协议》（以下简称"《控制权收购框架协议》"）等相关协议。 根据协议约定，在协议转让股份、向特定对象发行股票完成、文魁集团及夏亚萍 放弃表决权后，公司控股股东变更为原鑫曦望合伙，实际控制人变更为无锡市惠 山区国有资产管理办公室。 | 证券代码：300839 | 证券简称：博汇股份 | 公告编号：2025-077 | | --- | --- | --- | | 债券代码：123156 | 债券简称：博汇转债 | | 宁波博汇化工科技股份有限公司 吴平先生的任职资格符合相关法律、行政法规、规范性文件的相关规定，不 存在《公司法》规定不得担任公司董事的情形，不存在被中国 ...

本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 宁波博汇化工科技股份有限公司（以下简称"公司"）于2025年4月22日召开 第四届董事会第二十二次会议和第四届监事会第十六次会议，于2025年5月13日 召开2024年度股东大会，于2025年5月7日至2025年5月13日以简化程序召开"博汇 转债"2025年第一次债券持有人会议，审议通过了《关于变更部分募集资金用途 并永久补充流动资金、偿还银行贷款的议案》。同意变更公司募投项目部分募集 资金用途，将原计划用于"环保芳烃油产品升级及轻烃综合利用项目"的剩余募集 资金（包含理财收益及利息收入，具体金额以实际结转时项目专户资金余额为准） 永久补充流动资金、偿还银行贷款。具体内容详见公司于2025年4月23日在巨潮 资讯网披露的《关于变更部分募集资金用途并永久补充流动资金、偿还银行贷款 的公告》（公告编号：2025-058）。 一、募集资金基本情况 根据中国证监会《关于同意宁波博汇化工科技股份有限公司向不特定对象发 行可转换公司债券注册的批复》（证监许可［2022］1568号），公司向不特定对 象发行可转换公司债券，募 ...

| 证券代码：300839 | 证券简称：博汇股份 | 公告编号：2025-079 | | --- | --- | --- | | 债券代码：123156 | 债券简称：博汇转债 | | 宁波博汇化工科技股份有限公司 关于未弥补亏损达实收股本总额三分之一的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 宁波博汇化工科技股份有限公司（以下简称"公司"）于 2025 年 5 月 27 日召开第四届董事会第二十三次会议，审议通过了《关于未弥补亏损达实收股本 总额三分之一的议案》，本议案尚需提交 2025 年第四次临时股东大会审议，现 将具体情况公告如下： 一、概述 根据立信会计师事务所（特殊普通合伙）审计，截止 2024 年 12 月 31 日， 公司合并资产负债表中未分配利润为 -134,543,112.98 元，实收股本为 245,480,947.00 元，未弥补亏损金额超过实收股本总额的三分之一。 二、亏损原因 2024 年度，公司实现营业收入 22.79 亿元，同比下降 17.94%；归属于上市 公司股东的净利润-3.07 亿元，同比下降 51.18% ...