Financial Performance - The company reported a total revenue of 138 million yuan for the first half of 2025 [1] - The net profit attributable to shareholders was 30.74 million yuan, an increase of 42,200 yuan compared to the same period last year, marking a year-on-year growth of 0.14% [1] - The net cash inflow from operating activities was 34.14 million yuan [1] Financial Ratios - The latest debt-to-asset ratio is 6.18%, a decrease of 0.78 percentage points from the previous quarter and a decrease of 1.29 percentage points from the same period last year [3] - The latest gross profit margin is 34.21%, an increase of 0.24 percentage points year-on-year, achieving two consecutive years of growth [3] - The latest return on equity (ROE) is 3.54% [3] - The diluted earnings per share remained stable compared to the same period last year, with a year-on-year increase of 1.23% [3] - The latest total asset turnover ratio is 0.15 times, and the inventory turnover ratio is 2.23 times [3] Shareholder Information - The number of shareholders is 15,600, with the top ten shareholders holding 165 million shares, accounting for 66.42% of the total share capital [3] - The top shareholders include Zhou Guangrong (43.5 million shares), Xu Xiaoyu (12.6 million shares), and Yangzhou Haichang Xieli Enterprise Management Partnership (7.31 million shares) [3]

Group 1 - The third meeting of the supervisory board of Yangzhou Haichang New Materials Co., Ltd. was held on August 25, 2025, with all three members present, confirming compliance with relevant laws and regulations [1] - The supervisory board approved the 2025 semi-annual report, affirming that the report accurately reflects the company's actual situation without any false statements or omissions [1] - The supervisory board approved the special report on the management and use of raised funds for the first half of 2025, confirming that the use of funds is legal and compliant, with no violations reported [2] Group 2 - The supervisory board approved the conclusion of the first public offering of over-raised funds investment project and the permanent allocation of remaining funds to working capital, stating that this decision meets regulatory requirements and enhances fund utilization efficiency [2]

Group 1 - The board of directors of Yangzhou Haichang New Materials Co., Ltd. held its 19th meeting of the third session, where several key resolutions were passed [1][2] - The board approved the 2025 semi-annual report and its summary, which will be published on August 26, 2025 [1] - A special report on the storage and use of raised funds for the first half of 2025 was also approved [2] Group 2 - The board resolved to conclude the investment projects funded by the oversubscription of the initial public offering and to permanently supplement the working capital with the remaining oversubscribed funds [2] - The board agreed to abolish the supervisory board and amend the company’s articles of association, transferring the supervisory responsibilities to the audit committee of the board [2][3] - The board proposed to convene the first extraordinary general meeting of 2025 on September 10, 2025, to review related proposals [4]

Meeting Information - The company will hold its first extraordinary general meeting of shareholders on September 10, 2025, at 2:00 PM [1] - The meeting will allow for both on-site and online voting, with specific time slots for each voting method [2][8] Voting Procedures - Shareholders can vote either in person or through authorized representatives, with detailed procedures provided for online voting via the Shenzhen Stock Exchange [2][8] - The voting rights are limited to shareholders registered by the cut-off date of September 3, 2025 [2][6] Agenda Items - The meeting will discuss several proposals, including the completion of fundraising projects and the allocation of surplus funds to replenish working capital [4][5] - Other proposals include the cancellation of the supervisory board and amendments to the company's articles of association [4][5] Registration and Attendance - Shareholders must register for the meeting by providing necessary identification and authorization documents if attending through a proxy [6][10] - The company has specified the contact details for registration and inquiries [6][7]

Core Points - The company has revised its articles of association to better protect the rights of shareholders, employees, and creditors while ensuring compliance with relevant laws [1][3][4] - The role of the legal representative has been clarified, stating that the chairman of the board serves as the legal representative of the company [1][2] - The company’s shares are divided into equal shares, and shareholders are liable for the company’s debts only to the extent of their subscribed shares [3][4] Group 1 - The articles of association serve as a legally binding document that governs the relationship between the company, shareholders, directors, supervisors, and senior management [3][4] - The company must establish a Communist Party organization and provide necessary conditions for its activities [3] - The issuance of shares must adhere to principles of openness, fairness, and justice, ensuring equal rights for all shares of the same category [4][5] Group 2 - The company is prohibited from providing financial assistance for others to acquire its shares or those of its parent company, except for employee stock ownership plans [6][7] - The company can increase its capital through various methods, including public offerings and private placements, as decided by the shareholders' meeting [8][9] - The company may repurchase its shares under specific circumstances, such as reducing registered capital or responding to dissenting shareholders [10][11] Group 3 - The company’s shares can be transferred in accordance with the law, and there are restrictions on the transfer of shares held by directors and senior management for a specified period [15][16] - Shareholders holding more than 5% of the shares must report any pledges of their shares to the company [35] - The company’s controlling shareholders and actual controllers must act in accordance with laws and regulations to protect the interests of the company and its shareholders [36][37]

Group 1 - The company has decided to abolish the supervisory board, transferring its powers to the audit committee to enhance governance and compliance with regulations [1][2] - The company will revise its articles of association to reflect the removal of the supervisory board and related provisions, with the final content subject to approval by the market supervision administration [2][3] - The board of directors has approved the formulation and revision of several governance systems to improve internal management and ensure compliance with relevant laws and regulations [2][3] Group 2 - The proposed governance systems include the management of shareholding changes by directors, senior management, and core technical personnel, as well as measures to prevent the controlling shareholder and related parties from misappropriating company funds [2][3] - Some of the newly formulated and revised systems will require approval from the shareholders' meeting before they can take effect, while others will become effective upon approval by the board of directors [3]

Core Viewpoint - The company has completed the investment project funded by the excess proceeds from its initial public offering (IPO) and plans to permanently supplement its working capital with the remaining excess funds amounting to RMB 28.2731 million [1][5][8]. Summary of Relevant Sections Overview of IPO Fundraising - The company raised a total of RMB 379.4 million from the IPO by issuing 20 million shares at RMB 18.97 per share, with a net amount of RMB 344.0017 million after deducting issuance costs [1][2]. - The excess funds raised amounted to RMB 100.6892 million after accounting for the total investment of RMB 243.3125 million in two projects [3][4]. Management of IPO Funds - The company established a fundraising management system in compliance with relevant laws and regulations, including a tripartite supervision agreement with banks to manage the funds [2][3]. Use of Excess Funds - The company has utilized RMB 73.402 million for the "New Powder Metallurgy Products Project," which had a committed investment of RMB 100.6892 million [4]. - The remaining excess funds will be used to enhance working capital for daily operations, following the completion of the project [5][8]. Reasons for Remaining Funds - The company achieved cost savings through careful management and procurement processes, leading to a reduction in the expected equipment costs due to advancements in domestic technology [4][8]. Plan for Remaining Excess Funds - The company intends to use the remaining excess funds to permanently supplement its working capital, which will improve operational efficiency and reduce financial costs [5][8]. Approval Process - The board of directors, supervisory board, and independent directors have approved the plan to use the remaining excess funds, which will be submitted for shareholder approval [9][10].

Core Viewpoint - The company provided a detailed report on the usage and management of raised funds from its initial public offering, highlighting the total amount raised, expenses incurred, and the allocation of funds to various projects [1][2]. Fundraising Overview - The company raised a total of RMB 379.4 million by issuing 20 million shares at RMB 18.97 each, with net proceeds amounting to RMB 344 million after deducting issuance costs of RMB 35.4 million [1]. - As of June 30, 2025, the total amount of raised funds used was RMB 189.97 million, with a remaining balance of RMB 28.27 million [2][5]. Fund Management - The company established a dedicated fund management system in compliance with relevant laws and regulations, including a tripartite supervision agreement with banks to ensure proper storage and usage of the raised funds [1][2]. - The balance of the raised funds in dedicated bank accounts was RMB 27.31 million in demand deposits and RMB 28 million in structured deposits as of June 30, 2025 [2][7]. Project Funding and Usage - The company allocated funds to two main projects: the construction of a 4,000-ton high-grade powder metallurgy component project and a technology renovation project for powder metallurgy new materials, with a total investment of RMB 243.31 million [5][6]. - As of June 30, 2025, the company had used RMB 148.30 million for the first project and RMB 25.43 million for the second project, resulting in a total surplus of RMB 89.75 million from both projects [6][7]. Surplus Fund Management - The company decided to permanently supplement its working capital with the surplus funds from the completed projects, totaling RMB 89.75 million, and planned to close the related dedicated fund accounts [6][7]. - The company has also utilized idle raised funds for cash management, generating a return of RMB 22.92 million from investments in safe and liquid financial products [2][6]. Compliance and Reporting - The company confirmed that all disclosures regarding the usage of raised funds were timely, accurate, and complete, adhering to the regulatory requirements set by the Shenzhen Stock Exchange [8].

Group 1 - The document pertains to financial data of Yangzhou Haichang New Materials Co., Ltd, focusing on non-operating fund occupation and related party transactions [1] - It outlines the financial status as of June 30, 2025, detailing the amounts involved in non-operating fund occupation and the reasons for such occupations [1] - The document includes a summary of transactions with controlling shareholders, actual controllers, and other related parties, indicating the nature of these transactions [1] Group 2 - The document specifies that there are no amounts recorded for non-operating fund occupations or related party transactions as of the reporting date [1] - It highlights the absence of interest accrued on the amounts involved in these transactions, suggesting a lack of financial burden from these occupations [1] - The document is signed by the legal representative and the accounting personnel, indicating compliance with regulatory requirements [1]

扬州海昌新材股份有限公司 董事会 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。 扬州海昌新材股份有限公司 2025 年半年度报告全文及摘要已于 （http://www.cninfo.com.cn）披露。敬请投资者注意查阅。 特此公告。 证券代码：300885 证券简称：海昌新材 公告编号：2025-026 扬州海昌新材股份有限公司 ...