科大讯飞股份有限公司 科大讯飞股份有限公司 2025 年半年度报告全文 1 2025 年半年度报告 【披露时间】 科大讯飞股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人刘庆峰、主管会计工作负责人蔡尚及会计机构负责人(会计主 管人员)赵林悦声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 公司在本报告第三节"管理层讨论与分析"之"十、公司面临的风险和应对 措施"，分析了公司可能面临的风险及应对措施，提请投资者关注相关内容。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | 第二节 | 公司简介和主要财务指标 | 6 | | --- | --- | --- | | 第三节 | 管理层讨论与分析 | 9 | | 第四节 | 公司治理、环境和社会 43 | | | 第五节 | 重要事项 47 | | | 第六节 | 股份变动及股东情况 | 56 | | 第七节 | ...

福建广生堂药业股份有限公司 2025 年半年度报告全文 福建广生堂药业股份有限公司 2025 年半年度报告 2025 年 8 月 1 福建广生堂药业股份有限公司 2025 年半年度报告全文 第一节重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人李国平、主管会计工作负责人官建辉及会计机构负责人(会计 主管人员)林艳虹声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 本报告中涉及的未来发展战略、经营计划等前瞻性内容属于计划性事项， 能否实现取决于市场状况变化等多种因素，存在不确定性，并不代表公司对 未来年度的盈利预测，也不构成公司对投资者及相关人士的实质性承诺。投 资者及相关人士均应对此保持足够的风险认识，并且应当理解计划、预测与 承诺之间的差异。敬请投资者注意投资风险。 本公司请投资者认真阅读本半年度报告，公司在本报告"第三节管理层讨 论与分析"中"十、公司面临的风险和应对措施"部分描述了公司可能面对 的风险及应对措施，敬 ...

深圳市锐明技术股份有限公司 2025 年半年度报告全文 深圳市锐明技术股份有限公司 2025 年半年度报告 2025 年 8 月 1 深圳市锐明技术股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人赵志坚、主管会计工作负责人刘必发及会计机构负责人(会计 主管人员)巢琪声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 半年度报告如有涉及的前瞻性陈述不构成公司对投资者的实质性承诺，能 否实现取决于市场状况变化、经营团队的努力程度等多种因素，存在不确定 性，敬请投资者注意投资风险。 公司存在美国贸易战带来的全球供应链变化、市场竞争加剧的风险、技术 更新换代风险、应收账款发生坏账的风险、汇率波动风险、供应链风险、管 理风险、网络安全风险。详细内容见本报告"第三节 管理层讨论与分析"之 "十、公司面临的风险和应对措施"。 公司经本次董事会审议通过的利润分配预案为：以实施权益分派股权登 ...

江苏润和软件股份有限公司 2025 年半年度报告全文 江苏润和软件股份有限公司 2025 年半年度报告 2025-045 2025 年 8 月 1 江苏润和软件股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会及董事、高级管理人员保证半年度报告内容的真实、准确、 完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法 律责任。 公司负责人周红卫、主管会计工作负责人裴小兵及会计机构负责人(会计 主管人员)裴小兵声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 本报告中如有涉及未来的计划、业绩预测等方面的内容，均不构成本公 司对任何投资者的实质性承诺，投资者及相关人士均应对此保持足够的风险 认识，并且应当理解计划、预测与承诺之间的差异。 公司在本报告第三节"管理层讨论与分析"之"十、公司面临的风险和 应对措施"部分，详细描述了公司经营中可能存在的风险及应对措施，敬请 投资者关注相关内容。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | 第一节 | 重要提示、目录和释义 | 2 | | --- | --- ...

【二零二五年八月】 新华都特种电气股份有限公司 2025 年半年度报告全文 1 新华都特种电气股份有限公司 2025 年半年度报告 新华都特种电气股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人谭勇、主管会计工作负责人肖崴及会计机构负责人(会计主管 人员)肖崴声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 本报告中如有涉及未来的计划、业绩预测等方面的内容，均不构成本公 司对任何投资者及相关人士的承诺，投资者及相关人士均应对此保持足够的 风险认识，并且应当理解计划、预测与承诺之间的差异。 公司在经营管理中可能面临的风险与对策举措已在本报告中第三节"管理 层讨论与分析"之"十、公司面临的风险和应对措施"部分予以描述，敬请广大 投资者关注，并注意投资风险。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | 第一节 | 重要提示、目录和释义 | 2 | | --- ...

安徽恒源煤电股份有限公司2025 年半年度报告 公司代码：600971 公司简称：恒源煤电 安徽恒源煤电股份有限公司 2025 年半年度报告 1 / 174 安徽恒源煤电股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确 性、完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人杨林、主管会计工作负责人朱四一及会计机构负责人（会计主管人员）高建中 声明：保证半年度报告中财务报告的真实、准确、完整。 否 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 √适用 □不适用 本半年度报告中有关未来计划等前瞻性陈述，不构成本公司对投资者的实质性承诺，请投资者注 意投资风险。 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 十、 重大风险提示 受宏 ...

芜湖福赛科技股份有限公司 2025 年半年度报告全文 芜湖福赛科技股份有限公司 2025 年半年度报告 公告编号：2025-040 2025 年 8 月 1 芜湖福赛科技股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 公司负责人陆文波、主管会计工作负责人潘玉惠及会计机构负责人(会计主管人员)董倩倩声明：保 证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 本报告中所涉及的公司战略规划及未来计划等前瞻性陈述，不构成公司对投资者的实质承诺。投 资者及相关人士均应当对此保持足够的风险认识，并且应当理解计划、预测与承诺之间的差异。 公司可能面临的风险已在本报告第三节"管理层讨论与分析"之"十、公司面临的风险和应对措 施"部分进行了详细描述，敬请投资者注意投资风险。 公司经本次董事会审议通过的利润分配预案为：以公司现有总股本 84,837,210 股扣除回购证券专 用证券账户中持有的股份余额 870, ...

天津经纬辉开光电股份有限公司 2025 年半年度报告全文 天津经纬辉开光电股份有限公司 2025 年半年度报告 2025-34 披露日期：2025 年 8 月 22 日 1 天津经纬辉开光电股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准 确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 公司目前不存在影响公司正常经营的重大风险。公司日常经营中可能面临风险详见本 报告第三节"管理层讨论与分析"之"十、公司面临的风险和应对措施"部分，敬请投资 者关注相关内容。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | 第一节 | 重要提示、目录和释义 | | 2 | | --- | --- | --- | --- | | 第二节 | 公司简介和主要财务指标 | | 6 | | 第三节 | 管理层讨论与分析 | | 9 | | 第四节 | 公司治理、环境和社会 | | 25 | | 第五节 | 重要事项 | | 27 | | 第六节 | 股份变动及股东情况 | | 35 | | 第七 ...

Company Profile and Key Financial Indicators This section provides an overview of the company's fundamental information, key financial performance, and non-recurring items, highlighting strong profit growth despite a decrease in operating cash flow [Company Basic Information](index=6&type=section&id=%E5%85%AC%E5%8F%B8%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5) Shanghai Bide Pharmaceutical Technology Co., Ltd. (Bide Pharma) is a company listed on the STAR Market of the Shanghai Stock Exchange, stock code 688073, primarily engaged in pharmaceutical technology with Dai Lan as its legal representative Company Basic Information | Item | Content | | :--- | :--- | | Chinese Name | Shanghai Bide Pharmaceutical Technology Co., Ltd. | | Chinese Abbreviation | Bide Pharma | | Stock Code | 688073 | | Listing Exchange | Shanghai Stock Exchange STAR Market | | Legal Representative | Dai Lan | [Key Accounting Data and Financial Indicators](index=7&type=section&id=%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) During the reporting period, the company achieved strong performance growth, with operating revenue increasing by 17.91% year-on-year and net profit attributable to shareholders surging by 41.60%, primarily due to increased revenue and effective cost control, though operating cash flow decreased significantly due to business expansion Key Accounting Data (Jan-Jun 2025) | Key Accounting Data | Current Period (Yuan) | Prior Year Period (Yuan) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 627,526,589.12 | 532,207,309.99 | 17.91 | | Net Profit Attributable to Shareholders | 73,406,059.54 | 51,839,064.55 | 41.60 | | Net Profit Attributable to Shareholders (Excl. Non-recurring Items) | 59,163,606.01 | 48,256,312.13 | 22.60 | | Net Cash Flow from Operating Activities | 16,112,188.59 | 89,677,429.18 | -82.03 | | **Asset Status** | **Period-End (Yuan)** | **Prior Year-End (Yuan)** | **Period-End vs. Prior Year-End Change (%)** | | Total Assets | 2,530,189,768.10 | 2,418,035,118.40 | 4.64 | | Net Assets Attributable to Shareholders | 1,948,725,654.19 | 2,027,122,463.64 | -3.87 | Key Financial Indicators (Jan-Jun 2025) | Key Financial Indicators | Current Period | Prior Year Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (Yuan/share) | 0.84 | 0.58 | 44.83 | | Weighted Average Return on Net Assets (%) | 3.60 | 2.52 | Increased by 1.08 percentage points | | R&D Investment as % of Operating Revenue | 4.78 | 5.65 | Decreased by 0.87 percentage points | [Non-recurring Gains and Losses Items and Amounts](index=9&type=section&id=%E9%9D%9E%E5%B8%B8%E8%A7%84%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%92%8C%E9%87%91%E9%A2%9D) During the reporting period, the company's total non-recurring gains and losses amounted to **14.24 million yuan**, primarily comprising government subsidies recognized in current profit and loss and fair value changes from holding and disposing of financial assets Details of Non-recurring Gains and Losses | Non-recurring Gains and Losses Item | Amount (Yuan) | | :--- | :--- | | Government subsidies recognized in current profit and loss | 9,655,087.56 | | Gains/losses from holding and disposing of financial assets/liabilities | 7,265,175.10 | | Gains/losses from disposal of non-current assets | 330,567.88 | | Other non-operating income and expenses | 226,535.89 | | **Total** | **17,477,366.43** | | Less: Income tax impact | 3,234,912.90 | | **Total after tax** | **14,242,453.53** | [Net Profit Excluding Share-based Payment Impact](index=10&type=section&id=%E6%89%A3%E9%99%A4%E8%82%A1%E4%BB%BD%E6%94%AF%E4%BB%98%E5%BD%B1%E5%93%8D%E5%90%8E%E7%9A%84%E5%87%80%E5%88%A9%E6%B6%A6) Excluding the impact of share-based payment expenses, the company's net profit for the reporting period was **89.68 million yuan**, a significant increase of **70.60%** from the prior year, better reflecting core business profitability Net Profit Comparison Excluding Share-based Payment Impact | Period | Net Profit Excluding Share-based Payment Impact (Yuan) | YoY Change (%) | | :--- | :--- | :--- | | Current Period (Jan-Jun) | 89,679,870.74 | 70.60 | | Prior Year Period | 52,566,039.57 | - | Management Discussion and Analysis This section details the company's industry, main business operations, operating performance, core competencies, R&D progress, and key risk factors, providing a comprehensive overview of its strategic positioning and operational dynamics [Explanation of the Company's Industry and Main Business Operations During the Reporting Period](index=10&type=section&id=%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E6%89%80%E5%B1%9E%E8%A1%8C%E4%B8%9A%E5%8F%8A%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E6%83%85%E5%86%B5%E8%AF%B4%E6%98%8E) The company is a high-tech enterprise focused on the upstream of the new drug R&D value chain, specializing in the R&D, production, and sales of drug molecular building blocks and scientific reagents, serving global new drug R&D institutions with a vast product portfolio - Company's core business involves drug molecular building blocks and scientific reagents, serving critical stages of new drug R&D, with clients including multinational pharmaceutical companies like Roche, Merck, Pfizer, and CROs like Wuxi AppTec[31](index=31&type=chunk)[33](index=33&type=chunk) Global Drug R&D and Molecular Building Blocks Market Forecast | Market | 2024 Market Size | Annual Growth Rate | 2028/2029 Forecast | | :--- | :--- | :--- | :--- | | Global Drug R&D Investment | 147.7 billion USD | 7.9% | > 200 billion USD (2028) | | Global Molecular Building Blocks | 51.5 billion USD | 3.4% | > 60 billion USD (2029) | [Explanation of Main Business Operations](index=10&type=section&id=%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E6%83%85%E5%86%B5%E8%AF%B4%E6%98%8E) The company's main business is divided into molecular building blocks and scientific reagents, offering a comprehensive "basic material library" for drug R&D with extensive inventory and custom synthesis capabilities, alongside specialized reagents for target validation and synthesis optimization - Molecular building blocks business offers nearly a million products, with over **140,000 items in stock**, meeting customer demands for "massive screening, rapid supply, and customized empowerment"[32](index=32&type=chunk)[36](index=36&type=chunk) - Scientific reagents business features active small molecule compounds for target validation and catalysts/ligands for precise control in drug synthesis[37](index=37&type=chunk)[39](index=39&type=chunk) [Company's Industry Overview](index=12&type=section&id=%E5%85%AC%E5%8F%B8%E6%89%80%E5%B1%9E%E8%A1%8C%E4%B8%9A%E6%83%85%E5%86%B5) The company operates in the molecular building blocks and scientific reagents industry, closely tied to global drug R&D investment, with significant market sizes projected for both segments and increasing market share for Chinese enterprises amidst stratified competition Related Industry Market Size and Forecast | Industry Segment | 2024/2025 Market Size | CAGR | | :--- | :--- | :--- | | Global Molecular Building Blocks | 51.5 billion USD (2024) | 3.4% | | Global Chemical Reagents | >180 billion USD (2025) | 6.4% | | Global Life Science Reagents | 68.74 billion USD (2025) | 6.51% | | Global Active Small Molecule Compounds | 8 billion USD (2024) | 9.3% | [Discussion and Analysis of Operating Performance](index=13&type=section&id=%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5%E7%9A%84%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) During the reporting period, the company achieved steady growth with operating revenue of **628 million yuan** (up 17.91%) and net profit attributable to shareholders of **73.41 million yuan** (up 41.60%), driven by global expansion, diversified products, and R&D innovation, with gross margin improving to **44.25%** 2025H1 Operating Performance Highlights | Indicator | Amount/Ratio | YoY Change | | :--- | :--- | :--- | | Operating Revenue | 628 million Yuan | +17.91% | | Net Profit Attributable to Shareholders | 73.41 million Yuan | +41.60% | | Net Profit Excluding Share-based Payment | 89.68 million Yuan | +70.60% | | Gross Margin | 44.25% | +4.74 percentage points | | Overseas Sales Revenue | - | +21.33% | - The company continuously expands its product range, covering hot R&D areas such as PROTAC, GLP-1, and XDC, with a product library of nearly a million items and over **140,000 items in stock**[47](index=47&type=chunk) [Analysis of Core Competencies During the Reporting Period](index=14&type=section&id=%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) The company's core competencies are built on a vast product catalog, efficient customized synthesis, digital and intelligent operations, a high-margin product structure, and a strong global service network, collectively driving its competitive advantage in new drug R&D - The company has built a product catalog of nearly a million items, covering cutting-edge fields like PROTAC, ADC, and GLP-1, establishing itself as one of the global suppliers with the most extensive product lines for drug discovery reagents[49](index=49&type=chunk) - Leveraging advanced synthesis platforms and intelligent evaluation systems, the company provides end-to-end customized services, capable of completing specified structure synthesis and delivery within **2-4 weeks**[50](index=50&type=chunk) - Through its digital platform and e-commerce development, the company offers intelligent product search, one-click ordering, automatic COA/SDS generation, and full logistics tracking, enhancing customer experience and order conversion efficiency[51](index=51&type=chunk) [Core Technologies and R&D Progress](index=15&type=section&id=%E6%A0%B8%E5%BF%83%E6%8A%80%E6%9C%AF%E4%B8%8E%E7%A0%94%E5%8F%91%E8%BF%9B%E5%B1%95) The company possesses a comprehensive core technology system spanning product design, synthesis, production, and purification & detection, with significant R&D investment and a growing patent portfolio, demonstrating its commitment to innovation - The company's core technology platforms include: industry-leading molecular building block design and screening capabilities, rich and efficient organic synthesis technologies (e.g., C-H activation, chiral compound technology), and product purification and structural confirmation techniques[56](index=56&type=chunk)[60](index=60&type=chunk)[64](index=64&type=chunk) R&D Investment and Achievements | Indicator | Current Period | Prior Year Period | Change | | :--- | :--- | :--- | :--- | | Total R&D Investment (Yuan) | 29,996,679.58 | 30,050,598.68 | -0.18% | | R&D Investment as % of Revenue | 4.78 | 5.65 | Decreased by 0.87 percentage points | | **Intellectual Property** | **Newly Acquired in Current Period** | **Cumulatively Acquired** | - | | Invention Patents (units) | 3 | 54 | - | [Risk Factors](index=30&type=section&id=%E9%A3%8E%E9%99%A9%E5%9B%A0%E7%B4%A0) The company faces significant risks from intensifying market competition, potential intellectual property disputes, uncertainties in R&D commercialization, macroeconomic volatility, and financial challenges related to large inventory balances and exchange rate fluctuations - Market competition is intensifying, with product homogenization and price competition in mid-to-low-end segments posing major challenges[84](index=84&type=chunk) - Intellectual property risks include potential infringement disputes arising from customers' unauthorized use and the threat of imitation of the company's core compound database[85](index=85&type=chunk)[86](index=86&type=chunk) - Financial risks primarily involve a substantial inventory balance (book value of **851 million yuan** at period-end, accounting for **33.62%** of total assets) and exchange losses due to currency fluctuations (**2.78 million yuan** in exchange losses during the reporting period)[89](index=89&type=chunk) [Key Operating Performance During the Reporting Period](index=31&type=section&id=%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E4%B8%BB%E8%A6%81%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5) During the reporting period, the company's main business achieved steady growth, with drug molecular building blocks revenue up 14.35% and scientific reagents revenue up 38.95%, while financial expenses increased significantly due to reduced interest income and exchange losses, and investment in wealth management products led to a substantial increase in trading financial assets Main Business Revenue Composition | Business Segment | Current Period Revenue (Million Yuan) | YoY Growth (%) | | :--- | :--- | :--- | | Drug Molecular Building Blocks | 520.46 | 14.35 | | Scientific Reagents | 107.07 | 38.95 | | **Total** | **627.53** | **17.91** | Key Financial Statement Item Changes | Item | Current Period Amount (Yuan) | Change (%) | Primary Reason | | :--- | :--- | :--- | :--- | | Financial Expenses | 4,178,143.31 | N/A | Reduced interest income from wealth management and exchange losses | | Net Cash Flow from Operating Activities | 16,112,188.59 | -82.03 | Business expansion, increased product procurement expenses | | Trading Financial Assets | 460,896,808.21 | 510.28 | Increased allocation to bank wealth management products | | Short-term Borrowings | 203,152,860.14 | 573.08 | Increase in bank short-term borrowings | Corporate Governance, Environment, and Society This section outlines significant changes in the company's leadership and core technical personnel, as well as the implementation details of its equity incentive plans, reflecting ongoing efforts in talent management and employee motivation [Changes in Directors, Senior Management, and Core Technical Personnel](index=40&type=section&id=%E5%85%AC%E5%8F%B8%E8%91%A3%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E5%92%8C%E6%A0%B8%E5%BF%83%E6%8A%80%E6%9C%AF%E4%BA%BA%E5%91%98%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) During the reporting period, the company experienced several changes in senior management and core technical personnel, including the resignation of Li Tao and Mao Yonghao, and the appointment of new CFO and Board Secretary, along with the addition of seven new core technical personnel to maintain R&D stability - Key personnel changes include the departure of Li Tao (Director, Board Secretary, CFO), and the appointment of Wang Kun as CFO and Wang Xuan as Board Secretary[111](index=111&type=chunk)[114](index=114&type=chunk)[115](index=115&type=chunk) - Core technical personnel Mao Yonghao resigned, and the company newly identified Zhang Ruihao and 6 others as core technical personnel to maintain R&D team stability[111](index=111&type=chunk)[112](index=112&type=chunk)[116](index=116&type=chunk) [Status and Impact of Company's Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures](index=41&type=section&id=%E5%85%AC%E5%8F%B8%E8%82%A1%E6%9D%83%E6%BF%80%E5%8A%B1%E8%AE%A1%E5%88%92%E3%80%81%E5%91%98%E5%B7%A5%E6%8C%81%E8%82%A1%E8%AE%A1%E5%88%92%E6%88%96%E5%85%B6%E4%BB%96%E5%91%98%E5%B7%A5%E6%BF%80%E5%8A%B1%E6%8E%AA%E6%96%BD%E7%9A%84%E6%83%85%E5%86%B5%E5%8F%8A%E5%85%B6%E5%BD%B1%E5%93%8D) During the reporting period, the company implemented the grant of its 2024 restricted stock incentive plan, initially granting **2.06 million shares** to 65 recipients and later **0.494 million reserved shares** to 18 recipients, both at a price of **24.96 yuan per share** - On January 8, 2025, the company initially granted **2.06 million restricted shares** to 65 incentive recipients at a price of **24.96 yuan per share**[118](index=118&type=chunk) - On April 18, 2025, the company granted **0.494 million reserved restricted shares** to 18 incentive recipients at a price of **24.96 yuan per share**[118](index=118&type=chunk) Significant Matters This section covers the company's fulfillment of commitments, significant related party transactions, major contracts, and the progress of raised funds utilization, providing insight into its operational integrity and strategic financial management [Fulfillment of Commitments](index=43&type=section&id=%E6%89%BF%E8%AF%BA%E4%BA%8B%E9%A1%B9%E5%B1%A5%E8%A1%8C%E6%83%85%E5%86%B5) During the reporting period, the company's actual controllers, shareholders, related parties, and the company itself strictly fulfilled all commitments made during the initial public offering, including share lock-up, share price stabilization, avoidance of horizontal competition, and regulation of related party transactions, with no breaches observed - The company's controlling shareholders and actual controllers, Dai Lan and Dai Long, committed not to transfer pre-IPO shares for **36 months** from the listing date, with extended lock-up periods and reduced share price commitments linked to the offering price[122](index=122&type=chunk)[126](index=126&type=chunk) - The company, its controlling shareholders, directors, and senior management committed to initiating share price stabilization measures, including company buybacks, controlling shareholder增持, and director/senior management增持, if the share price falls below net asset value per share for **20 consecutive trading days** within three years of listing[124](index=124&type=chunk)[158](index=158&type=chunk) [Significant Related Party Transactions](index=65&type=section&id=%E9%87%8D%E5%A4%A7%E5%85%B3%E8%81%94%E4%BA%A4%E6%98%93) During the reporting period, the company planned a major asset restructuring to acquire control of Combi-Blocks, Inc. through a share issuance, a matter that progressed from January 2025 but was subsequently terminated by a board resolution on April 14, 2025 - The company had planned to issue shares to acquire a portion of Zhuhai Weibao's equity to gain control of Combi-Blocks, Inc., and raise supporting funds[186](index=186&type=chunk) - This major asset restructuring was terminated by a resolution of the company's board of directors on April 14, 2025[187](index=187&type=chunk) [Significant Contracts and Their Fulfillment](index=67&type=section&id=%E9%87%8D%E5%A4%A7%E5%90%88%E5%90%8C%E5%8F%8A%E5%85%B6%E5%B1%A5%E8%A1%8C%E6%83%85%E5%86%B5) During the reporting period, the company provided guarantees totaling **210 million yuan** to its wholly-owned subsidiary, Shanghai Bilude Pharmaceutical Technology Co., Ltd., to support bank credit lines, with a remaining guarantee balance of **110 million yuan** at period-end Guarantees to Subsidiaries | Guarantor | Guaranteed Party | Guarantee Amount (Million Yuan) | Guarantee Type | | :--- | :--- | :--- | :--- | | Bide Pharma | Shanghai Bilude | 200.00 | Joint and several liability guarantee | | Bide Pharma | Shanghai Bilude | 10.00 | Joint and several liability guarantee | - As of the end of the reporting period, the company's total guarantee balance for its subsidiaries was **110 million yuan**, accounting for **5.64%** of the company's net assets[192](index=192&type=chunk) [Explanation of Progress in Use of Raised Funds](index=70&type=section&id=%E5%8B%9F%E9%9B%86%E8%B5%84%E9%87%91%E4%BD%BF%E7%94%A8%E8%BF%9B%E5%B1%95%E8%AF%B4%E6%98%8E) The company's net proceeds from its initial public offering amounted to **1.309 billion yuan**, with **1.271 billion yuan** cumulatively invested, representing a **97.10%** progress, and all over-raised funds have been fully utilized for repaying bank loans, supplementing working capital, and share repurchases Overall Use of Raised Funds (As of Period End) | Item | Amount (Million Yuan) | | :--- | :--- | | Net Proceeds from Raised Funds | 1,309.00 | | Total Committed Investment | 434.36 | | Total Over-raised Funds | 874.64 | | Total Cumulative Raised Funds Invested | 1,271.07 | | Overall Investment Progress | 97.10% | Details of Over-raised Funds Usage | Purpose | Planned Investment (Million Yuan) | Cumulative Investment (Million Yuan) | Investment Progress (%) | | :--- | :--- | :--- | :--- | | Repayment of Bank Loans and Permanent Working Capital Supplement | 774.64 | 774.64 | 100.00 | | Share Repurchase | 100.00 | 100.00 | 100.00 | | **Total** | **874.64** | **874.64** | **100.00** | Share Changes and Shareholder Information This section details the company's shareholder structure, including the total number of common shareholders and the shareholdings of its top ten shareholders, highlighting the control held by actual controllers and the presence of institutional investors [Shareholder Information](index=77&type=section&id=%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) As of the end of the reporting period, the company had **3,782** common shareholders, with actual controllers Dai Lan and Dai Long holding significant stakes, and institutional investors like China Universal Medical & Health Hybrid Securities Investment Fund also among the top ten shareholders Top Ten Shareholders' Shareholding | Shareholder Name | Number of Shares Held | Proportion (%) | | :--- | :--- | :--- | | Dai Lan | 29,664,719 | 32.64 | | Dai Long | 13,106,289 | 14.42 | | Zhoushan Xinxin Enterprise Management Partnership | 5,019,806 | 5.52 | | Ningbo Landan Venture Capital Partnership | 4,305,076 | 4.74 | | China Universal Medical & Health Hybrid Securities Investment Fund | 4,252,561 | 4.68 | - Actual controllers Dai Lan and Dai Long are siblings and have signed a concerted action agreement; Zhoushan Xinxin, Ningbo Landan, and Wu Bo are concerted parties; Nanxu Investment, Lanyun Wanchi, and Xuqing Investment are employee stock ownership platforms controlled by Dai Long[212](index=212&type=chunk) Bond-Related Information This section confirms the absence of any corporate bonds or non-financial enterprise debt financing instruments issued by the company during the reporting period [Corporate Bonds and Non-Financial Enterprise Debt Financing Instruments](index=82&type=section&id=%E5%85%AC%E5%8F%B8%E5%80%BA%E5%88%B8%E5%92%8C%E9%9D%9E%E9%87%91%E8%9E%8D%E4%BC%81%E4%B8%9A%E5%80%BA%E5%8A%A1%E8%9E%8D%E8%B5%84%E5%B7%A5%E5%85%B7) During the reporting period, the company did not issue any corporate bonds, enterprise bonds, or non-financial enterprise debt financing instruments - The company has no outstanding corporate bonds or convertible corporate bonds[220](index=220&type=chunk) Financial Report This section provides a summary of the company's financial statements, including balance sheet, income statement, and cash flow statement, along with detailed notes explaining key accounting items and their changes [Financial Statement Summary](index=83&type=section&id=%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E6%91%98%E8%A6%81) The financial statements indicate a growth in total assets to **2.53 billion yuan** and total liabilities to **581 million yuan**, with the asset-liability ratio rising to **22.98%**, while operating revenue increased by 17.91% to **628 million yuan** and net profit by 41.60% to **73.41 million yuan**, though operating cash flow significantly decreased and investing cash outflow expanded due to wealth management product purchases Consolidated Balance Sheet Summary (Jun 30, 2025) | Item | Period-End Balance (Yuan) | Period-Beginning Balance (Yuan) | | :--- | :--- | :--- | | Cash and Cash Equivalents | 726,936,059.28 | 1,105,333,099.80 | | Trading Financial Assets | 460,896,808.21 | 75,522,082.20 | | Inventories | 850,716,686.81 | 760,217,457.80 | | **Total Assets** | **2,530,189,768.10** | **2,418,035,118.40** | | Short-term Borrowings | 203,152,860.14 | 30,182,470.22 | | **Total Liabilities** | **581,464,113.91** | **390,912,654.76** | | **Equity Attributable to Parent Company Shareholders** | **1,948,725,654.19** | **2,027,122,463.64** | Consolidated Income Statement Summary (Jan-Jun 2025) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Total Operating Revenue | 627,526,589.12 | 532,207,309.99 | | Total Operating Costs | 522,427,598.32 | 456,333,477.22 | | Total Profit | 100,843,826.91 | 64,254,167.56 | | Net Profit | 73,406,059.54 | 51,839,064.55 | | Net Profit Attributable to Parent Company Shareholders | 73,406,059.54 | 51,839,064.55 | Consolidated Cash Flow Statement Summary (Jan-Jun 2025) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 16,112,188.59 | 89,677,429.18 | | Net Cash Flow from Investing Activities | -398,576,339.49 | -266,685,771.14 | | Net Cash Flow from Financing Activities | -7,417,835.52 | -140,764,364.22 | | Period-End Cash and Cash Equivalents Balance | 710,089,200.40 | 947,195,599.76 | [Notes to Consolidated Financial Statements](index=142&type=section&id=%E5%90%88%E5%B9%B6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E9%A1%B9%E7%9B%AE%E6%B3%A8%E9%87%8A) The notes to the financial statements provide detailed explanations of accounting item compositions and changes, highlighting a significant increase in trading financial assets due to wealth management product purchases, low customer concentration in accounts receivable, high inventory proportions, and a substantial rise in short-term borrowings, with revenue broken down by product and channel - Trading financial assets at period-end amounted to **461 million yuan**, a significant increase from **76 million yuan** at the beginning of the period, entirely comprising bank wealth management products[401](index=401&type=chunk) Main Business Revenue by Product Type | Product Type | Operating Revenue (Yuan) | Operating Cost (Yuan) | | :--- | :--- | :--- | | Molecular Building Blocks - Heterocyclic Compounds | 271,473,211.84 | 142,520,031.85 | | Molecular Building Blocks - Benzene Ring Compounds | 146,310,956.15 | 83,918,851.19 | | Molecular Building Blocks - Aliphatic Compounds | 102,671,564.31 | 57,761,085.82 | | Catalysts and Ligands | 66,343,913.92 | 44,956,312.69 | | Life Science Reagents | 40,726,942.90 | 20,684,205.21 | Main Business Revenue by Sales Channel | Sales Channel | Operating Revenue (Yuan) | Operating Cost (Yuan) | | :--- | :--- | :--- | | Direct Sales | 598,706,766.85 | 330,880,293.08 | | Distribution | 28,819,822.27 | 18,960,193.68 |

宁夏宝丰能源集团股份有限公司 2025 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确性、 完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人刘元管、主管会计工作负责人王东旭及会计机构负责人（会计主管人员）王东旭 声明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 公司代码：600989 公司简称：宝丰能源 宁夏宝丰能源集团股份有限公司 2025 年半年度报告 1 / 160 宁夏宝丰能源集团股份有限公司 2025 年半年度报告 公司2025年上半年度利润分配方案为：截至本报告披露日，公司总股本7,333,360,000股，扣除 不参与现金分红的公司回购股份60,593,400股，有权享受本次现金红利的股份为7,272,766,600股， 拟每股派发现金红利0.28元，共计派发现金红利2,036,374,648元，本报告期不进行资本公积转增股 本。 六、 前瞻性陈述的风险声明 √ ...