Core Viewpoint - The company, Bohui Co., Ltd. (SZ 300839), announced the convening of its 29th meeting of the fourth board of directors on October 27, 2025, to review the proposal for the third quarter report of 2025 [1] Financial Performance - For the year 2024, the revenue composition of Bohui Co., Ltd. is as follows: self-produced refined petroleum products account for 99.16%, materials for refined petroleum products account for 0.57%, and trade in refined petroleum products accounts for 0.26% [1] - As of the report date, the market capitalization of Bohui Co., Ltd. is 3.9 billion yuan [1]

证券代码：300839 证券简称：博汇股份 公告编号：2025-156 宁波博汇化工科技股份有限公司 经审核，监事会认为：公司《2025 年第三季度报告》符合法律、行政法规、 中国证监会和深圳证券交易所的规定，报告内容真实、准确、完整地反映了公司 的实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 具体内容详见公司同日披露于巨潮资讯网的《2025 年第三季度报告》（公告 编号：2025-154）。 表决结果：3 票同意，0 票反对，0 票弃权，本项议案获得通过。 三、备查文件 一、监事会会议召开情况 宁波博汇化工科技股份有限公司（以下简称"公司"）第四届监事会第二十 二次会议于 2025 年 10 月 27 日以现场方式在公司会议室召开，公司于 2025 年 10 月 22 日通过电子通讯的方式通知了全体监事。会议应出席监事 3 名，实际出 席监事 3 名。会议由监事会主席唐一位先生召集主持，董事会秘书张雪莲女士列 席了本次会议。本次监事会会议的召集、召开及表决程序符合《公司法》及《公 司章程》等相关法律法规的规定。 二、监事会会议审议情况 经监事会审议和表决，形成决议如下： （一）审议通过《关于公司 ...

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、董事会会议召开情况 宁波博汇化工科技股份有限公司（以下简称"公司"）第四届董事会第二十 九次会议于2025年10月27日以现场及通讯方式在公司会议室召开，公司于2025 年 10 月 22 日通过电子通讯的方式通知了全体董事。会议应出席董事 7 名，实际 出席董事 7 名。会议由董事长金碧华先生召集主持。本次董事会会议的召集、召 开及表决程序符合《公司法》及《公司章程》等相关法律法规的规定。 二、董事会会议审议情况 经董事会审议和表决，形成决议如下： （一）审议通过《关于公司 2025 年第三季度报告的议案》 证券代码：300839 证券简称：博汇股份 公告编号：2025-155 宁波博汇化工科技股份有限公司 第四届董事会第二十九次会议决议公告 本议案已提前经第四届审计委员会第十三次会议审议通过。 表决结果：7 票同意，0 票反对，0 票弃权，本项议案获得通过。 三、备查文件 1、《宁波博汇化工科技股份有限公司第四届董事会第二十九次会议决议》； 2、《宁波博汇化工科技股份有限公司第四届审计委员会第十三次会议决 ...

Financial Performance - The company's operating revenue for Q3 2025 reached ¥697,705,034.45, representing a 354.05% increase compared to the same period last year[5] - The net profit attributable to shareholders was -¥5,310,988.77, a decrease of 90.42% year-on-year, while the net profit after deducting non-recurring gains and losses was -¥20,150,900.16, a decrease of 67.64%[5] - The company reported a 34.24% increase in total operating revenue for the year-to-date, amounting to ¥2,040,002,313.05[10] - The net profit for the current period was reported at -¥63,709,422.59, an improvement compared to -¥161,209,512.36 in the previous period, indicating a reduction in losses by approximately 60.5%[22] - The company reported a total comprehensive loss of -¥63,738,302.52, compared to -¥161,283,337.87 in the previous period, showing an improvement in overall financial performance[22] - Basic and diluted earnings per share were both -¥0.26, an improvement from -¥0.67 in the previous period[23] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,745,225,107.96, down 18.26% from the end of the previous year[5] - The company’s total liabilities decreased significantly, with long-term borrowings down by 45.61% to ¥98,068,993.47[9] - Total current assets decreased from 1,058,735,069.71 CNY to 673,451,420.34 CNY, a reduction of approximately 36.3%[18] - Total non-current assets decreased slightly from 1,076,394,911.09 CNY to 1,071,773,687.62 CNY, a decrease of about 0.4%[18] - Total liabilities decreased from 1,661,048,392.53 CNY to 992,023,297.75 CNY, a reduction of approximately 40.3%[19] - The company's total equity increased from 474,081,588.27 CNY to 753,201,810.21 CNY, an increase of about 58.8%[19] Cash Flow - The cash flow from operating activities showed a net outflow of -¥17,465,849.93, a decline of 169.16% compared to the previous year[12] - The company recorded a net cash outflow from operating activities of -¥17,465,849.93, contrasting with a net inflow of ¥25,254,082.60 in the prior period[24] - Cash and cash equivalents at the end of the period totaled ¥149,609,992.35, down from ¥627,986,741.86 at the end of the previous period, reflecting a decrease of approximately 76.2%[25] - The company experienced a net cash outflow from financing activities of -¥255,987,989.59, compared to a net inflow of ¥350,817,918.09 in the previous period, reflecting a shift in financing strategy[25] Investments and Expenses - Investment income surged by 904.84% to ¥43,504,953.01, mainly due to gains from hedging activities[11] - Research and development expenses decreased to ¥7,899,665.44 from ¥33,496,962.97, a reduction of approximately 76.6%[22] - The company generated cash inflows from investment activities totaling ¥700,486,068.04, compared to ¥214,708,857.53 in the previous period, indicating a significant increase in investment cash inflows[24] Shareholder Information - Total number of common shareholders at the end of the reporting period is 9,620[14] - The largest shareholder, Ningbo Wenkui Holding Group Co., Ltd., holds 32.62% of shares, totaling 96,211,616 shares[14] Inventory and Borrowings - Inventory increased from 324,527,026.02 CNY to 431,551,704.70 CNY, an increase of about 33.1%[18] - Short-term borrowings decreased from 536,506,993.07 CNY to 405,377,960.06 CNY, a reduction of approximately 24.4%[19]

Group 1 - The core issue revolves around the capital maneuvering of Bohui Co., where state-owned capital is acquiring controlling stakes while original shareholders are significantly reducing their holdings, raising market skepticism about the motives behind this dual action [1][2] - Bohui Co. announced a substantial reduction in its private placement fundraising plan from a maximum of 417 million yuan to 235 million yuan, a decrease of 43.5% [1] - The capital operation strategy of Bohui Co. consists of a "three-step" approach, including agreement transfer, private placement fundraising, and voting rights transfer [1] Group 2 - The first phase of the agreement transfer was completed on April 30, 2025, with Yuanxinxiwang Partnership acquiring 13.06% of shares from Wenkui Group for 263 million yuan, translating to a per-share transfer price of approximately 8.20 yuan [1] - The second phase of the private placement has raised questions regarding the pricing, as the placement price is set at 5.66 yuan per share, significantly lower than the market price of around 14 yuan as of September 2025 [1][2] - The price difference between Wenkui Group's share reduction at 8.20 yuan and Yuanxinxiwang's subscription at 5.66 yuan is 2.54 yuan per share, leading to concerns about the fairness of this pricing despite regulatory compliance [2] Group 3 - Bohui Co. primarily engages in fuel oil deep processing, with main products including base oil, fuel oil, and white oil [2] - In the first half of 2025, the company reported operating revenue of 1.342 billion yuan, a slight decrease of 1.73% year-on-year, while net profit remained negative at -59.29 million yuan, indicating ongoing financial struggles [2] - The company has a high debt-to-asset ratio of 80%, which poses a significant financial burden, and it explicitly stated that the fundraising is aimed at optimizing its capital structure and reducing debt levels [2]

Core Viewpoint - The refining and trading sector experienced a decline of 0.75% on September 30, with Daqing Huake leading the drop, while the Shanghai Composite Index rose by 0.52% and the Shenzhen Component Index increased by 0.35% [1]. Group 1: Market Performance - The closing price of the Shanghai Composite Index was 3882.78, and the Shenzhen Component Index closed at 13526.51 [1]. - The refining and trading sector saw various individual stock performances, with Bohai Chemical leading with a rise of 4.49% to a closing price of 3.96 [1]. - Other notable performers included Bohui Co. (+2.04%), Guanghui Energy (+1.41%), and Runbei Hangke (+1.37%) [1]. Group 2: Trading Volume and Value - Bohai Chemical had a trading volume of 416,000 shares, with a transaction value of 165 million yuan [1]. - Guanghui Energy recorded a trading volume of 718,400 shares, with a transaction value of 360 million yuan [1]. - The total transaction values for other companies in the sector varied, with Runbei Hangke at approximately 31.02 million yuan and Dongfang Shenghong at around 131 million yuan [1]. Group 3: Capital Flow - The refining and trading sector experienced a net outflow of 241 million yuan from main funds, while retail funds saw a net inflow of approximately 29.64 million yuan [3]. - Speculative funds recorded a net inflow of 211 million yuan into the sector [3].

Group 1 - The company, Bohui Co., Ltd. (300839), primarily produces white oil, lubricating oil base oil, furnace fuel oil, and marine fuel oil [1]

Core Viewpoint - The stock of Bohui Co., Ltd. has shown significant volatility, with a year-to-date increase of 87.93% but a recent decline in the last five and twenty trading days, indicating potential market fluctuations and investor sentiment changes [2]. Company Overview - Bohui Co., Ltd. is located in Ningbo, Zhejiang Province, established on October 12, 2005, and listed on June 30, 2020. The company specializes in the research, production, and sales of chemical raw materials, including asphalt additives, rubber additives, and lubricating oil additives [2]. - The main revenue components of Bohui Co., Ltd. include base oil (36.09%), 6-7 fuel oil (25.24%), furnace fuel oil 2 (24.58%), and white oil (14.05%) [2]. Financial Performance - For the first half of 2025, Bohui Co., Ltd. reported a revenue of 1.342 billion yuan, a year-on-year decrease of 1.73%. The net profit attributable to the parent company was -59.29 million yuan, showing a year-on-year increase of 43.80% [3]. - Since its A-share listing, Bohui Co., Ltd. has distributed a total of 73.3252 million yuan in dividends, with 20.9092 million yuan distributed in the last three years [4]. Shareholder and Market Activity - As of September 20, 2023, the number of shareholders of Bohui Co., Ltd. was 9,737, a decrease of 3.81% from the previous period. The average circulating shares per person increased by 3.96% to 29,751 shares [3]. - The stock has appeared on the "Dragon and Tiger List" twice this year, with the most recent appearance on July 15, where it recorded a net purchase of 25.623 million yuan [2].

Core Viewpoint - As of September 20, 2025, the number of shareholders for Bohui Co., Ltd. (300839) is projected to be 9,737 [1] Summary by Categories - Company Information - Bohui Co., Ltd. has responded to investor inquiries on September 23, indicating a projected shareholder count of 9,737 by September 20, 2025 [1]

Group 1 - The core viewpoint of the article is that there are concerns regarding the legitimacy of the transformation and upgrades at Bohui Co., with some investors questioning the effectiveness and progress of its initiatives in liquid cooling, computing power, and large models [2] - Bohui Co. responded to investor inquiries on an interactive platform, stating that its wholly-owned subsidiary, Wuxi Jizhi Liquid Cooling, was established in June and that various tasks are progressing in an orderly manner [2]