Core Insights - The company reported a significant increase in revenue and net profit for the first half of 2025, with total revenue reaching 507 million yuan, a year-on-year increase of 40.47%, and net profit attributable to shareholders at 110 million yuan, up 211.25% [1][2] Financial Performance - Total revenue for Q2 2025 was 246 million yuan, reflecting a year-on-year growth of 31.35% [1] - The gross profit margin improved to 31.81%, an increase of 13.57% year-on-year, while the net profit margin reached 21.6%, up 122.6% [1] - The total of selling, administrative, and financial expenses amounted to 73.21 million yuan, accounting for 14.43% of total revenue, which is a year-on-year increase of 34.6% [1] - Earnings per share rose to 1.28 yuan, a year-on-year increase of 190.91% [1] Cost and Expense Analysis - The increase in operating income was attributed to enhanced production capacity and sales from the Thailand subsidiary, as well as growth in sales of new synthetic products [2] - Operating costs increased by 33.06% due to the rise in revenue [2] - Management expenses surged by 46.41% due to new factory operations and increased personnel costs [2] - Financial expenses saw a dramatic rise of 312.05%, primarily due to reduced foreign exchange gains [2] Cash Flow and Investment - The net cash flow from financing activities increased by 198.31%, driven by expanded operations and investments in the Thailand subsidiary [3] - The net increase in cash and cash equivalents rose by 290.25%, reflecting increased bank borrowings to support operational needs [3] - The company’s return on invested capital (ROIC) was reported at 3.16%, indicating a need for improved capital efficiency [3] Market Position and Future Outlook - Analysts project the company's performance for 2025 to reach 284 million yuan in revenue, with an average earnings per share estimate of 2.51 yuan [3] - The largest fund holding the company’s shares is the Yuanxin Yongfeng Enhanced Income A Fund, which has recently entered the top ten holdings [4]

Summary of Key Points Core Viewpoint - Yaxiang Co., Ltd. has experienced a decline in the number of shareholders, indicating potential changes in investor sentiment despite positive financial performance in the first half of the year [2]. Financial Performance - The company reported a total operating revenue of 507 million yuan for the first half of the year, representing a year-on-year increase of 40.47% [2]. - Net profit reached 110 million yuan, showing a significant year-on-year growth of 211.25% [2]. - Basic earnings per share were reported at 1.2800 yuan, with a weighted average return on equity of 6.52% [2]. Shareholder Dynamics - As of August 20, the number of shareholders decreased to 9,600, down by 900 from the previous period (August 10), marking a decline of 8.57% [2]. - This decline in shareholder count marks the second consecutive period of decrease [2]. Stock Performance - The closing price of Yaxiang Co., Ltd. was 48.02 yuan, reflecting a drop of 4.51% [2]. - Since the concentration of shares began, the stock price has seen a cumulative increase of 0.71%, with 7 days of price increases and 6 days of declines during the reporting period [2].

Group 1 - The company, Yaxiang Co., Ltd. (301220.SZ), has announced a minor business collaboration with Guolin New Materials Company regarding machinery and equipment procurement [1]

Core Insights - The company reported a significant increase in revenue and net profit for the first half of 2025, with revenue reaching 507 million yuan, a year-on-year growth of 40.47%, and net profit of 110 million yuan, up 211.25% [2] Business Performance - The company specializes in natural and synthetic flavors, with stable demand and growth potential in downstream markets such as food and beverages, and daily chemicals [3] - Natural flavors and synthetic flavors are the main growth drivers, with natural flavors achieving revenue of 253 million yuan, a 65.2% increase, and synthetic flavors seeing explosive growth with revenue of 127 million yuan, up 184.06% [3] - The cooling agent segment faced challenges, with revenue declining by 21.21% to 124 million yuan [3] Product Development - The company is expanding its product portfolio with the successful commercialization of new products through biotechnological advancements, including the production of key additives for high-end perfumes [4] - The Thai production base is a key growth driver, with the first phase nearing full capacity and plans for a second phase expansion to add 4,000 tons of capacity [4] Industry Outlook - The flavor and fragrance industry is a core component of the modern consumer goods value chain, with expected market growth to reach 32.1 billion USD by 2025 [5] - The industry is shifting focus towards developing countries, with China, India, and Brazil driving growth due to rising middle-class populations and new consumption trends [6] - The domestic market is experiencing a shift towards higher quality and more diverse product offerings, driven by consumer preferences for "green" and "natural" products [6] Strategic Insights - The company's performance validates its dual strategy of expanding overseas production capacity and driving innovation through technology [7] - Future growth is anticipated with the launch of new products and the expansion of the Thai base, but the company must optimize supply chain management and diversify its customer base to mitigate risks [7]

外资态度来看，本期较上一季未再披露的外资机构即J.P.Morgan Securities PLC-自有资金。 以上内容与数据，与有连云立场无关，不构成投资建议。据此操作，风险自担。 公募基金方面，本期较上一季度新披露的公募基金共计2个，包括圆信永丰强化收益A、财通中证1000 指数增强A。本期较上一季未再披露的公募基金共计5个，包括华泰保兴吉年丰A、华泰保兴吉年利、华 夏消费臻选混合发起式A、鹏华领航一年持有期混合A、金鹰研究驱动混合A。 对于社保基金，本期新披露持有亚香股份的社保基金共计2个，包括华夏基金管理有限公司-社保基金四 二二组合、全国社保基金五零三组合。 2025年8月27日，亚香股份(301220.SZ)发布2025年半年度报告。截至2025年8月26日，共有7个机构投资 者披露持有亚香股份A股股份，合计持股量达861.27万股，占亚香股份总股本的7.64%。其中，机构投 资者包括昆山鼎龙博晖投资管理企业(有限合伙)、苏州永鸿宝投资管理中心(有限合伙)、华夏基金管理 有限公司-社保基金四二二组合、国寿养老红运股票型养老金产品-中国光大银行股份有限公司、全国社 保基金五零三组合、圆信永丰强化收益A ...

2024年1至12月份，亚香股份的营业收入构成为：香料和香精制造占比100.0%。 每经头条（nbdtoutiao）——能给主人"打电话"的宠物智能手机也来了！宠物产业3000亿元市场大爆 发，行业上市公司"涨"声一片 （记者 胡玲） 每经AI快讯，亚香股份（SZ 301220，收盘价：50.29元）8月27日发布公告称，本激励计划首次授予的 激励对象总人数为6人，采用的激励工具为第二类限制性股票，涉及的标的股票来源为公司向激励对象 定向发行的本公司人民币普通股（A股）股票；拟向激励对象授予限制性股票总计约69万股，占本激励 计划草案公告日公司股本总额约1.13亿股的0.61%；首次授予限制性股票的授予价格为每股25.04元，即 满足授予条件和归属条件后，激励对象可以每股25.04元的价格购买本公司人民币普通股（A股）股票， 有效期自限制性股票首次授予之日起至激励对象获授的限制性股票全部归属或作废失效之日止，最长不 超过48个月。 免责声明：本文内容与数据仅供参考，不构成投资建议，使用前请核实。据此操作，风险自担。 每日经济新闻 ...

| 编制单位：昆山亚香香料股份有限公司 | | | | | | | | | | 单位：万元 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 非经营性资金占用 | 资金占用方名称 | 占用方与上市公 | 上市公司核算 | 2025年初占用 | 2025年上半年度 占用累计发生金 | 2025年上半年 度占用资金的 | 2025年上半年 度偿还累计发 | 2025年上半年 度末占用资金 | 占用形成原因 | 占用性质 | | | | 司的关联关系 | 的会计科目 | 资金余额 | 额(不含利息) | 利息(如有) | 生金额 | 余额 | | | | 控股股东、实际控制人及 | | | | | | | | | | | | 其附属企业 | | | | | | | | - | | | | 小计 | — | — | — | - | - | - | - | - | | | | 前控股股东、实际控制人 | | | | | | | | - | | | | 及其附属企业 | | | | | | | | | | | | 小计 | — ...

证券简称：亚香股份 证券代码：301220 昆山亚香香料股份有限公司 2025 年限制性股票激励计划 （草案）摘要 二〇二五年八月 声 明 本公司及董事会全体成员保证本激励计划及其摘要不存在虚假记载、误导性 陈述或重大遗漏，并对其真实性、准确性和完整性承担个别和连带的法律责任。 本公司所有激励对象承诺，公司因信息披露文件中有虚假记载、误导性陈述或 者重大遗漏，导致不符合授予权益或行使权益安排的，激励对象应当自相关信息披 露文件被确认存在虚假记载、误导性陈述或者重大遗漏后，将由本激励计划所获得 的全部利益返还公司。 截至本激励计划草案公告日，本激励计划中任何一名激励对象通过全部在有 效期内的股权激励计划获授的公司标的股票数量，累计未超过公司股本总额的 1%。 公司全部在有效期内的股权激励计划所涉及的标的股票总数累计不超过公司股本 总额的 20%。 四、本激励计划首次授予部分限制性股票的授予价格为 25.04 元/股，预留部 分限制性股票的授予价格与首次授予部分限制性股票的授予价格相同。在本激励 计划草案公告当日至激励对象完成限制性股票归属登记前，若公司发生资本公积 转增股本、派发股票红利、股份拆细或缩股、配股、 ...

证券简称：亚香股份 证券代码：301220 昆山亚香香料股份有限公司 2025 年限制性股票激励计划 （草案） 二〇二五年八月 声 明 本公司及董事会全体成员保证本激励计划及其摘要不存在虚假记载、误导性陈 述或重大遗漏，并对其真实性、准确性和完整性承担个别和连带的法律责任。 本公司所有激励对象承诺，公司因信息披露文件中有虚假记载、误导性陈述或 者重大遗漏，导致不符合授予权益或行使权益安排的，激励对象应当自相关信息披 露文件被确认存在虚假记载、误导性陈述或者重大遗漏后，将由本激励计划所获得 的全部利益返还公司。 - 2 - 特别提示 一、昆山亚香香料股份有限公司 2025 年限制性股票激励计划（以下简称"本 激励计划"）系依据《中华人民共和国公司法》《中华人民共和国证券法》《上市 公司股权激励管理办法》《深圳证券交易所创业板股票上市规则（2025 年 4 月修 订）》《深圳证券交易所创业板上市公司自律监管指南第 1 号——业务办理》和其 他有关法律、法规、规范性文件，以及《昆山亚香香料股份有限公司章程》制订。 二、本激励计划采取的激励工具为限制性股票（第二类限制性股票）。股票来 源为昆山亚香香料股份有限公司（以 ...

2025 年限制性股票激励计划首次授予激励对象名单 一、2025 年限制性股票激励计划授予的限制性股票在各激励对象间的分配情况 | 序号 | 姓名 | 职务 | 国籍 | 获授予的权 益数量 | 占授予权益总 | 占本激励计划公 告日公司股本总 | | --- | --- | --- | --- | --- | --- | --- | | | | | | | 量的比例 | | | | | | | （股） | | 额的比例 | | 一、董事、高级管理人员 | | | | | | | | 1 | 汤建刚 | 董事、总经理 | 中国 | 140,000 | 20.26% | 0.12% | | 2 | | 董事、副总经 | 中国 | 84,000 | 12.16% | 0.07% | | 方龙 | | 理 | | | | | | 3 | 陈大卫 | 副总经理、董 | 中国 | 84,000 | 12.16% | 0.07% | | 事会秘书 | | | | | | | | 小计 | | | | 308,000 | 44.57% | 0.27% | | 二、其他激励对象 | | | | | | | | 董事会认为需要 ...