Core Viewpoint - The company, Hengxin Life (301501), stated that the current EU carbon tariff has not directly impacted its business, emphasizing its focus on biodegradable products as environmentally friendly and carbon-reducing solutions [1] Group 1: Business Impact - The EU carbon tariff has not had a direct effect on the company's operations at this stage [1] - The company's main products, biodegradable dining utensils, are designed to be environmentally friendly and contribute to carbon reduction [1] Group 2: Innovation and Product Development - The company will continue to drive product innovation through technological advancements [1] - It aims to align with domestic and international policies regarding biodegradable products, focusing on new products, technologies, materials, and processes [1] - The company plans to leverage its product and technological advantages to continuously introduce personalized and diversified products to meet customer needs [1]

Core Viewpoint - Hengxin Life Technology Co., Ltd. has reported its first semi-annual results since its listing, showcasing significant revenue and profit growth despite a competitive environment in the food delivery industry and ongoing environmental policies [1][2]. Financial Performance - In the first half of 2025, the company achieved revenue of 871 million yuan, a year-on-year increase of 18.81%, and a net profit of 125 million yuan, up 19.70% [1][2]. - The net profit growth rate exceeded that of revenue, indicating improved profitability quality. The gross margin remained high at 24.84%, with a return on equity (ROE) of 8.08% and strong operating cash flow [2]. - Revenue from biodegradable food containers reached 431 million yuan, accounting for 50% of total revenue, with a gross margin of 29.11%, significantly higher than the 19.14% for non-biodegradable products [2]. R&D Investment - The company increased its R&D expenditure to 28.435 million yuan in the first half of 2025, a 14.6% year-on-year increase, representing 3.3% of revenue [2]. - R&D investments have grown from 32.15 million yuan in 2021 to 53.37 million yuan in 2024, ensuring the company maintains a competitive edge in environmental materials and processes [2]. Domestic Demand Growth - Domestic sales revenue reached 573 million yuan, a 30.54% increase year-on-year, accounting for 65.8% of total revenue, while export revenue grew by only 1.31% [3]. - The expansion of major clients like Luckin Coffee, which grew from 6,000 stores in 2021 to 26,206 by mid-2025, has significantly contributed to Hengxin Life's revenue, with this client accounting for 16.49% of sales in the first half of 2025 [3]. Capacity Expansion and Internationalization - The company’s Thai subsidiary began production in April 2025, marking a significant step in its overseas expansion, catering to Southeast Asian markets and providing a foothold for entry into Europe and the U.S. [4]. - The investment progress for the "annual production of 30,000 tons of compostable green environmental biological products" project has reached 94.16% completion as of June 2025 [4]. - The expansion of production capacity is expected to enhance cost optimization and bargaining power, positioning the company favorably in the competitive landscape of the eco-friendly food container industry [4]. Industry Trends - The semi-annual report reflects broader industry trends, with domestic "plastic bans" driving demand for biodegradable products in various sectors, while tightening international environmental standards elevate green food containers from an option to a necessity [5]. - Despite intense competition, Hengxin Life has established a differentiated advantage through comprehensive product coverage, strong client relationships, and international expansion [6].

Group 1 - On August 26, Hengxin Life experienced a decline of 9.95% with a trading volume of 590 million yuan [1] - The financing data for Hengxin Life on the same day showed a financing purchase amount of 64.25 million yuan and a financing repayment of 81.36 million yuan, resulting in a net financing buy of -17.10 million yuan [1] - As of August 26, the total margin balance for Hengxin Life was 198 million yuan, which accounted for 10.08% of its market capitalization [1] Group 2 - Hengxin Life's main business involves the research, production, and sales of paper and plastic dining utensils, with biodegradable products making up 49.46% of revenue and non-biodegradable products 48.36% [1] - For the first half of 2025, Hengxin Life reported a revenue of 871 million yuan, representing a year-on-year growth of 18.81%, and a net profit attributable to shareholders of 125 million yuan, up 19.70% year-on-year [1] - As of July 18, the number of shareholders for Hengxin Life was 21,000, a decrease of 0.69% from the previous period, while the average circulating shares per person increased by 0.69% to 1,665 shares [1] Group 3 - Since its A-share listing, Hengxin Life has distributed a total of 51 million yuan in dividends [2] - As of June 30, 2025, Hong Kong Central Clearing Limited was the second-largest circulating shareholder of Hengxin Life, holding 1.1823 million shares as a new shareholder [2]

Industry Overview - The Ministry of Industry and Information Technology is set to issue satellite internet licenses to three major telecom operators, which will likely accelerate the launch of satellite networks and ground facilities, presenting investment opportunities in satellite manufacturing and related companies [2] - Shanghai has announced adjustments to its real estate purchase restrictions, including lifting limits for single individuals and equalizing loan rates for first and second homes, which may boost confidence in the real estate sector and consumer spending, particularly in the liquor industry [3] - The Chinese government aims to increase the self-sufficiency rate of semiconductors for data centers to 70% by 2027, with plans for Beijing to reach 100%, indicating a growing market for domestic AI servers and computing chips [3] Advanced Manufacturing - Desay Battery reported a revenue of 9.762 billion yuan for the first half of the year, a year-on-year increase of 9.32%, while net profit decreased by 9.36% to 98 million yuan. The company is undergoing a strategic transformation, with traditional consumer electronics battery business performing well, but significant losses in its energy storage segment [6] - Jiangsu province has clarified the "discharge pricing mechanism" for vehicle-grid interaction, allowing electric vehicles to act as distributed energy storage units, which could incentivize the operation of energy storage fleets and charging stations [7] Consumer Sector - Maiqiuer's total revenue for the first half of 2025 was 294 million yuan, a decrease of 4.49%, but net profit turned positive at 1.5466 million yuan, a significant turnaround after three years of losses. The company's gross margin improved to 25.32% [9] - Guibao Pet reported a revenue of 3.221 billion yuan, a year-on-year increase of 32.72%, with net profit rising by 22.55% to 378 million yuan. The company saw strong growth in its core pet food segment, particularly in staple food, while online sales channels have become a significant growth driver [10]

编制单位: 展公司 附件: 合肥恒鑫生活 合肥恒鑫生活科技股份有限公司 2025年度1-6月非经营性资金占用及其他关联资金往来情况汇总表 单位:万元 | 非经营性资金占用 = | ○资金占用方名称 | 占用方与上市公司的 | 上市公司核算的 | 2025 · 初占用资 | 2025年度1-6月占 2025年度1-6月占 用累计发生金额 用资金的利息(如 | | 2025年度1-6月偿 | 2025年6月30日 | 占用形 | 占用性质 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 关联关系 | 会计科目 | 全余额 | | | 还累计发生金额 | 占用资金余额 | 成原因 | | | | | | | | (不含利息) | 有) | | | | | | 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 | | | | | | | | | ...

证券日报网讯8月25日晚间，恒鑫生活（301501）发布公告称，公司将于2025年9月16日召开2025年第一 次临时股东大会。本次股东大会将审议《关于公司变更注册资本及经营范围、监事会，修订 <公司章程 > 并办理工商变更登记的议案》《关于修订、制定公司部分管理制度的议案》等多项议案。 ...

Group 1 - The core point of the article is that Hengxin Life (SZ 301501) held its second board meeting on August 23, 2025, to review the semi-annual report and its summary [1] - For the year 2024, Hengxin Life's revenue composition is primarily from paper products and plastic dining utensils, accounting for 97.97%, while other businesses contribute 2.03% [1] - As of the report, Hengxin Life has a market capitalization of 9.2 billion yuan [1] Group 2 - The A-share market has seen trading volumes exceed 2 trillion yuan for eight consecutive days, indicating strong market activity [1] - Major industry players are actively recruiting for the autumn season, with 25 job positions available, highlighting a demand for talent in the sector [1]

合肥恒鑫生活科技股份有限公司 董事会议事规则 （2025年8月） 第一条 宗旨 为了进一步规范合肥恒鑫生活科技股份有限公司（以下简称"公司"）董事 会的议事方式和决策程序，促使董事和董事会有效地履行其职责，提高董事会规 范运作和科学决策水平，根据《中华人民共和国公司法》(以下简称《公司法》) 等有关法律、法规、规范性文件的要求，以及《合肥恒鑫生活科技股份有限公司 章程》（以下简称《公司章程》）的有关规定，制订本规则。 第二条 董事会的组成 公司设董事会，对股东会负责。董事会由七名董事组成，其中独立董事三名， 职工代表董事一名，任期三年；非职工代表董事由股东会选举或者更换，职工代 表董事由公司职工通过职工代表大会等民主选举产生，无需提交股东会审议。董 事任期届满，可连选连任。设董事长一名，由全体董事的过半数选举产生和罢免。 董事会秘书负责处理董事会日常事务，董事会秘书可以指定其他有关人员协 助其处理日常事务。 第三条 定期会议 董事会会议分为定期会议和临时会议。 董事会每年应当至少召开 2 次定期会议。 第四条 定期会议的提案 在发出召开董事会定期会议的通知前，董事会办公室应当充分征求各董事的 意见，初步形成会 ...

合肥恒鑫生活科技股份有限公司 对外投资管理制度 第一条 为了加强合肥恒鑫生活科技股份有限公司（以下简称"公司"）对外 投资活动的内部控制，规范对外投资行为，防范对外投资风险，保障对外投资安 全，提高对外投资效益，根据《中华人民共和国公司法》《合肥恒鑫生活科技股 份有限公司章程》（以下简称《公司章程》）、《深圳证券交易所创业板股票上市规 则》的相关规定，制定本制度。 第二条 本制度所称对外投资是指公司为实现扩大生产经营规模的战略，达 到获取长期收益为目的，将现金、实物、无形资产等可供支配的资源投向其他组 织或个人的行为。 第三条 公司所有对外投资行为必须符合国家有关法规及产业政策，符合公 司长远发展计划和发展战略，有利于拓展主营业务，扩大再生产，有利于公司的 可持续发展，有预期的投资回报，有利于提高公司的整体经济利益。 第四条 公司对外投资原则上由公司总部集中进行，控股子公司确有必要进 行对外投资的，需事先经总公司批准后方可进行。公司对控股子公司及参股公司 的投资活动参照本制度实施指导、监督及管理。 第二章 投资决策 第五条 公司对外投资的决策机构主要为股东会、董事会或总经理。具体权 限划分如下： （一） 公司 ...

合肥恒鑫生活科技股份有限公司 章 程 二〇二五年 | 第一章 总则 | 1 | | --- | --- | | 第二章 经营宗旨和范围 | 2 | | 第三章 股份 . | | | 第一节 股份发行 . | | | 第二节 股份增减和回购 | | | 第三节 股份转让 · | | | 第四章 股东和股东会 . | | | 第一节 股东的一般规定 | | | 第二节 控股股东和实际控制人 . | | | 第三节 股东会的一般规定 | | | 第四节 股东会的召集 . | | | 第五节 股东会的提案与通知 | | | 第六节 股东会的召开 . | | | 第七节 股东会的表决和决议 | | | 第五章 董事和董事会 . | | | 第一节 董事的一般规定 | | | 第二节 董事会 | | | 第三节 独立董事 . | | | 第四节 董事会专门委员会 . | | | 第六章 高级管理人员 . | | | 第七章 财务会计制度、利润分配和审计 | | | 第一节 财务会计制度 . | | | 第二节 内部审计 . | | | 第三节 会计师事务所的聘任 | | | 第八章 通知和公告 | | | 第一节 通知 ...