证券代码：301190 证券简称：善水科技 公告编号：2025-039 九江善水科技股份有限公司 第三届董事会第十六次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 九江善水科技股份有限公司（以下简称"公司"）第三届董事会第十六次会 议于 2025 年 9 月 12 日在公司会议室以现场及通讯表决方式召开。本次会议通知 于 2025 年 9 月 8 日以电子邮件、电话等方式发出，会议应出席董事 9 名，实际 出席董事 9 名。本次会议由董事长黄国荣先生主持，公司高级管理人员列席了会 议。会议的召集、召开和表决符合《中华人民共和国公司法》（以下简称"《公 司法》"）等法律法规和《公司章程》的规定。 二、董事会会议审议情况 经全体董事认真审议，通过了以下议案： （一）审议通过《关于使用部分超募资金永久补充流动资金的议案》 为提高超募资金使用效率，结合公司发展需要，遵循股东利益最大化的原则， 在保证募集资金投资项目资金需求的情况下，根据《上市公司募集资金监管规则》 及《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市公 ...

Market Overview - On August 28, the chemical raw materials sector rose by 0.26% compared to the previous trading day, with Xinghua Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3843.6, up 1.14%, while the Shenzhen Component Index closed at 12571.37, up 2.25% [1] Stock Performance - Xinghua Co., Ltd. (002109) closed at 4.11, with a significant increase of 9.89% and a trading volume of 1.2355 million shares, amounting to a transaction value of 498 million yuan [1] - Other notable performers included Jiangtian Chemical (300927) with a closing price of 29.92, up 3.35%, and Shanshui Technology (301190) at 26.44, up 3.28% [1] Fund Flow Analysis - The chemical raw materials sector experienced a net outflow of 788 million yuan from institutional investors, while retail investors saw a net inflow of 664 million yuan [2] - The overall fund flow indicates a mixed sentiment, with institutional investors withdrawing capital while retail investors increased their positions [2] Individual Stock Fund Flow - Xinghua Co., Ltd. had a net inflow of 1.10 billion yuan from institutional investors, indicating strong institutional interest despite the overall sector outflow [3] - Other stocks like Sanyou Chemical (600409) and Jinpu Titanium Industry (000545) also showed varied fund flows, with Sanyou Chemical receiving a net inflow of 26.14 million yuan from institutional investors [3]

Group 1 - The core viewpoint of the news is that Shan Shui Technology experienced a decline in stock price and significant changes in financing activities on August 27, with a net financing outflow of 10.51 million yuan [1] - As of August 27, the total financing and securities lending balance of Shan Shui Technology was 122 million yuan, which is 2.22% of its market capitalization, indicating a high level of financing [1] - The company reported a revenue of 305 million yuan for the first half of 2025, representing a year-on-year growth of 23.08%, while the net profit attributable to shareholders decreased by 11.77% to 47.77 million yuan [2] Group 2 - Since its A-share listing, Shan Shui Technology has distributed a total of 126 million yuan in dividends, with 94.30 million yuan distributed in the last three years [3] - As of June 30, 2025, the number of shareholders of Shan Shui Technology was 13,000, a decrease of 13.32% from the previous period, while the average circulating shares per person increased by 158.76% to 12,298 shares [2]

Financial Performance - Company reported a total revenue of 305 million yuan, an increase of 23.08% year-on-year, but net profit decreased by 11.77% to 47.77 million yuan [1] - In Q2, revenue reached 177 million yuan, up 23.29% year-on-year, while net profit fell by 12.84% to 31.00 million yuan [1] - Gross margin was 29.35%, down 8.63% year-on-year, and net margin was 15.65%, down 28.31% year-on-year [1] Expense Analysis - Sales expenses increased by 77.66% due to higher personnel costs and other sales-related expenses [2] - Management expenses rose by 45.58% attributed to increased personnel costs [2] - Financial expenses grew by 42.56% due to decreased interest from lower deposit balances and rates [2] Cash Flow and Investment - Operating cash flow per share was -0.31 yuan, a 30.75% increase year-on-year [1] - Investment cash flow decreased by 93.57% due to increased cash management [2] - Financing cash flow increased by 50.33% due to higher repayments of short-term loans and increased buyback payments [2] Return on Investment - The company's return on invested capital (ROIC) was 1.45%, indicating weak capital returns [2] - Historical data shows a median ROIC of 11.46% since the company went public, with the worst year being 2023 at -0.67% [3] Business Model and Debt Capacity - The company's performance is primarily driven by capital expenditures, necessitating careful evaluation of the profitability of these investments [3] - The company maintains a healthy cash asset position, indicating good debt repayment capacity [3] Current Developments - The company is currently processing various approvals for its supporting raw material projects [3]

Core Viewpoint - Jiujiang Shanshui Technology Co., Ltd. reported a significant increase in revenue and net profit for the first half of 2025, driven by favorable market conditions in the fine chemical sector, particularly in the dye industry [1][2][3]. Group 1: Financial Performance - The company achieved operating revenue of 305 million yuan, representing a year-on-year growth of 23.08% [1]. - The net profit attributable to shareholders was 47.77 million yuan [1]. Group 2: Market Dynamics - The fine chemical sector outperformed the basic chemical sector, with the dye industry being a highlight due to improved domestic consumption and stricter environmental regulations [2]. - Prices for dye intermediates, such as 6-nitro compounds, surged due to supply-side constraints from environmental policies and seasonal demand [2]. Group 3: Industry Characteristics - The dye intermediate industry exhibits strong stability once integrated into the downstream supply chain, with high switching costs for customers due to the specific quality requirements of dye products [3]. - The company has established long-term stable partnerships with several well-known dye enterprises, maintaining a leading market share in its segment [3]. Group 4: R&D Investment - Research and development investment increased by 42.97% year-on-year, focusing on upgrading existing products and developing high-value-added products [4]. - The company has developed a core technology system that integrates product research, process development, and equipment modification, positioning it at the forefront of the industry [4]. Group 5: Product Quality and Production Efficiency - The company’s 6-nitro products have significant quality advantages, utilizing a continuous nitration process that reduces waste and lowers environmental costs [5]. - The gross margin for 6-nitro products was 45.69%, reflecting an increase compared to the previous year [5]. - The company is actively promoting the capacity release of chlorinated pyridine series products, with a gross margin of 26.33% for 2,3-dichloropyridine, showing substantial growth [5].

Group 1 - The core point of the article is that Shanshui Technology announced the approval of multiple proposals during the 15th meeting of its third board of directors [2] Group 2 - The announcement was made on the evening of August 25 [2] - The proposals included the discussion of the agenda and its summary [2]

Core Insights - The company reported a revenue of 305 million yuan for the first half of 2025, representing a year-on-year growth of 23.08% [1] - The net profit attributable to shareholders decreased to 47.77 million yuan, a decline of 11.77% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 47.71 million yuan, also down 11.66% year-on-year [1] - The basic earnings per share stood at 0.2320 yuan [1]

Group 1 - The company reported a revenue of 305 million yuan for the first half of the year, representing a year-on-year increase of 23.08% [1] - The net profit attributable to shareholders of the listed company was 47.77 million yuan, showing a year-on-year decrease of 11.77% [1] - The basic earnings per share were 0.232 yuan [1] Group 2 - The company's stock price decreased by 3.08% [1]

九江善水科技股份有限公司 2025 年半年度非经营性资金占用及其他关联资金往来情况汇总表 单位：元 | 其他关联方及其附属 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 企业 | | | | | | | | | | 总计 | - | - | - | 252,337,785.14 | 37,953,986.44 | 13,202,057.83 | 277,089,713.75 | - | | 非经营性资金占用 | 资金占用方名称 | 占用方与上 市公司的关 | 上市公司核算 | 2025 年 1 月 1 日 | 2025 年 1-6 月用 累计发生金额（不 | 2025 年 1-6 月占 用资金的利息 | 2025 年 1-6 月 偿还累计发生 | 2025 年 6 月 30 | 占用形成 | 占用性质 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 的会计科目 | 占用资金余额 | | | | 日占 ...

证券代码：301190 证券简称：善水科技 公告编号：2025-038 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。 根据中国证券监督管理委员会《上市公司募集资金监管规则》《深圳证券交 易所上市公司自律监管指引第2号——创业板上市公司规范运作》及《深圳证券 交易所创业板上市公司自律监管指南第2号——公告格式》等有关规定，九江善 水科技股份有限公司（以下简称"公司"或"本公司"）董事会编制了2025年半 年度募集资金存放与使用情况专项报告。 一、募集资金基本情况 经中国证券监督管理委员会《关于同意九江善水科技股份有限公司首次公开 发行股票注册的批复》（证监许可[2021]3471号）核准，并经深圳证券交易所同 意，本公司由主承销商中原证券股份有限责任公司于2021年12月15日向社会公众 公开发行普通股（A股）股票5,366.00万股，每股面值1元，每股发行价人民币27.85 元。截至2021年12月21日止，本公司共募集资金1,494,431,000.00元，扣除发行 费用（不含税）110,458,694.23元，募集资金净额1,383,972,305.77 ...