百隆东方股份有限公司2025 年半年度报告 公司代码：601339 公司简称：百隆东方 百隆东方股份有限公司 2025 年半年度报告 1 / 122 百隆东方股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会及董事、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、 公司负责人杨卫新、主管会计工作负责人董奇涵及会计机构负责人（会计主管人员）董奇 涵声明：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 根据公司2025年半年度报告，截至2025年6月30日，母公司累计未分配利润为671,732,136.56 元（未经审计）。 经公司第五届董事会第十八次会议审议通过《关于2025年度中期分红的议案》。根据《公司 法》及《公司章程》规定，公司决定以实施权益分派股权登记日登记的总股本为基数，每股派发 现金红利0.15元（含税）。截至审议本次利润分配方案的董事会召开日，公司总股本为 1,499,569 ...

北京凯因科技股份有限公司2025 年半年度报告 公司代码：688687 公司简称：凯因科技 北京凯因科技股份有限公司 2025 年半年度报告 三、 公司全体董事出席董事会会议。 四、 本半年度报告未经审计。 五、 公司负责人周德胜、主管会计工作负责人刘洪娟及会计机构负责人（会计主管人员）李小 青声明：保证半年度报告中财务报告的真实、准确、完整。 六、 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 1 / 188 北京凯因科技股份有限公司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、 重大风险提示 公司已在本报告中详细阐述相关风险，敬请查阅本报告第三节"管理层讨论与分析"之"四、 风险因素"。 七、 是否存在公司治理特殊安排等重要事项 □适用 √不适用 八、 前瞻性陈述的风险声明 √适用 □不适用 本报告所涉及的公司未来计划、发展战略等前瞻性陈述，不构成公司对投资者的实质承诺， 请投资者注意投资风险。 九、 是否存在被控股股东及其他关联方非 ...

湖北振华化学股份有限公司2025 年半年度报告 公司代码：603067 公司简称：振华股份 湖北振华化学股份有限公司 2025 年半年度报告 1 / 166 湖北振华化学股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会及董事、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、 公司负责人蔡再华、主管会计工作负责人杨帆及会计机构负责人（会计主管人员）周芬芬 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2025年半年度不进行利润分配或公积金转增股本。 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告内容中涉及的未来计划、发展战略等前瞻性陈述因存在不确定性，不构成公司对投资者的 实质承诺，敬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 ...

公司代码：600329 公司简称：达仁堂 津药达仁堂集团股份有限公司 2025 年半年度报告 1 / 207 津药达仁堂集团股份有限公司2025 年半年度报告 津药达仁堂集团股份有限公司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、 公司负责人王磊、主管会计工作负责人马健及会计机构负责人（会计主管人员）唐超声明： 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 无 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的未来计划、发展战略等前瞻性描述不构成公司对投资者的实质承诺，敬请 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 十一、 其他 □适用 √不适用 2 / 207 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 ...

安琪酵母股份有限公司2025 年半年度报告 公司代码：600298 公司简称：安琪酵母 安琪酵母股份有限公司 2025 年半年度报告 1 / 163 安琪酵母股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会及董事、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、 公司负责人熊涛、主管会计工作负责人姜德玉及会计机构负责人（会计主管人员）姜德玉 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 不适用 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中如有涉及未来计划、发展战略等前瞻性描述不构成公司对投资者的实质承诺，敬请 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 否 十、 重大风险提示 本报告中详细描述了公司 ...

[Glossary](index=4&type=section&id=Glossary) This section defines key terms used throughout the report [Company Profile and Key Financial Indicators](index=5&type=section&id=Company%20Profile%20and%20Key%20Financial%20Indicators) [Company Basic Information](index=5&type=section&id=Company%20Basic%20Information) This chapter provides the company's basic business registration information, contact details, registered and office addresses, and stock overview, noting no changes during the reporting period - The company's stock abbreviation is “Xuefeng Technology” and stock code is “603227”, listed on the Shanghai Stock Exchange[21](index=21&type=chunk) - The company's legal representative is Tian Yong[16](index=16&type=chunk) [Key Accounting Data and Financial Indicators](index=6&type=section&id=Key%20Accounting%20Data%20and%20Financial%20Indicators) In H1 2025, the company's performance declined year-on-year, with revenue down 4.96% and net profit attributable to shareholders significantly decreasing by 40.64%, primarily due to falling prices in the chemical sector and reduced earthmoving volumes in the civil explosives business, while net cash flow from operating activities also sharply decreased by 79.67% 2025 H1 Key Accounting Data | Key Accounting Data | Current Period (Jan-Jun) | Prior Year Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | CNY 2,679,138,751.31 | CNY 2,819,025,828.77 | -4.96% | | Net Profit Attributable to Shareholders of Listed Company | CNY 232,579,863.86 | CNY 391,783,093.01 | -40.64% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Items) | CNY 223,387,386.41 | CNY 377,896,330.28 | -40.89% | | Net Cash Flow from Operating Activities | CNY 92,420,488.41 | CNY 454,603,762.59 | -79.67% | | Basic Earnings Per Share (CNY/share) | 0.217 | 0.366 | -40.71% | | Weighted Average Return on Net Assets (%) | 4.66% | 8.35% | Decrease of 3.69 percentage points | | Total Assets (End of Reporting Period) | CNY 7,856,535,728.39 | CNY 7,889,965,320.99 (End of Prior Year) | -0.42% | - Operating revenue decreased primarily due to two major business segments: civil explosives products and blasting services revenue declined by **11.75%** due to a **38.90% year-on-year reduction** in earthmoving volumes, and chemical products revenue decreased by **13.64%** due to falling prices of main products[25](index=25&type=chunk) - The significant decline in net profit attributable to shareholders was mainly due to a **CNY 128 million year-on-year reduction** in profit from the chemical sector[26](index=26&type=chunk) - Net cash flow from operating activities sharply decreased, primarily due to reduced sales collections from lower end-product prices, increased settlement of bank acceptance bills, and higher natural gas procurement costs, leading to a year-on-year increase in cash outflow[26](index=26&type=chunk) [Non-recurring Gains and Losses and Amounts](index=7&type=section&id=Non-recurring%20Gains%20and%20Losses%20and%20Amounts) During the reporting period, the company's total non-recurring gains and losses amounted to CNY 9.19 million, primarily comprising government subsidies of CNY 10.37 million recognized in current profit and loss, and gains/losses from disposal of non-current assets of CNY 1.46 million 2025 H1 Non-recurring Gains and Losses Items | Non-recurring Gains and Losses Item | Amount (CNY) | | :--- | :--- | | Gains/Losses from Disposal of Non-current Assets | 1,457,637.75 | | Government Subsidies Recognized in Current Profit and Loss | 10,372,569.90 | | Other Non-operating Income and Expenses | -1,098,558.26 | | Income Tax Impact | -1,650,171.51 | | Impact on Minority Interests (After Tax) | 999.57 | | **Total** | **9,192,477.45** | [Management Discussion and Analysis](index=9&type=section&id=Management%20Discussion%20and%20Analysis) [Industry and Main Business Overview](index=9&type=section&id=Industry%20and%20Main%20Business%20Overview) The company adheres to a dual-main business strategy of "civil explosives + energy chemicals" synergy; while civil explosives business benefits from Xinjiang's strategic position as a national energy resource guarantee base with stable demand growth, the energy chemical business faced challenges in H1 2025 with major products like ammonium nitrate, fertilizers, melamine, and LNG experiencing oversupply and continuous price declines, impacting the company's performance [Industry Overview](index=9&type=section&id=Industry%20Overview) The civil explosives industry remained stable, with significant growth in explosive production in Xinjiang, making it the second-largest production area nationwide, whereas the energy chemical industry generally faced market weakness in H1 2025, with average prices for ammonium nitrate, urea, and melamine falling by 10.93%, 19.39%, and 16.78% respectively, indicating weak market demand and intense competition - **Civil Explosives Industry**: National blasting services revenue increased by **18.29%** year-on-year. Xinjiang's explosive production saw significant increases in both volume and growth rate, becoming the second-largest production area nationwide[33](index=33&type=chunk) - **Energy Chemical Industry**: - **Ammonium Nitrate**: Market operated weakly, with average price falling by **10.93%** year-on-year[34](index=34&type=chunk) - **Fertilizer (Urea)**: Prices fluctuated widely, with average price decreasing by **19.39%** year-on-year[35](index=35&type=chunk) - **Melamine**: Supply-strong, demand-weak pattern continued, with price center shifting downwards, and average price falling by **16.78%** year-on-year[37](index=37&type=chunk) - **LNG**: Market faced high costs and weak demand, with average price slightly decreasing by **1.41%** year-on-year[38](index=38&type=chunk) [Main Business Overview](index=11&type=section&id=Main%20Business%20Overview) The company's main business is divided into two major segments: civil explosives and energy chemicals, with the civil explosives business providing integrated services from explosive production to engineering blasting, and the energy chemical business utilizing natural gas as raw material to build a circular economy industrial chain, primarily producing urea, compound fertilizer, ammonium nitrate, melamine, and LNG - The company's civil explosives business core is integrated engineering blasting services, covering the “production, transportation, sales” of industrial explosives, detonators, and cords, and the “drilling, blasting, excavation, transportation” of engineering blasting[38](index=38&type=chunk) Energy Chemical Business Main Product Annual Production Capacity | Product | Annual Production Capacity | | :--- | :--- | | Urea | 600,000 tons | | Compound Fertilizer | 900,000 tons | | Ammonium Nitrate | 660,000 tons | | Melamine | 210,000 tons | | LNG | 240,000 tons | [Discussion and Analysis of Operations](index=11&type=section&id=Discussion%20and%20Analysis%20of%20Operations) Facing the triple pressures of low commodity prices, rising natural gas raw material costs, and intensified industry competition, the company maintained stable and orderly operations in H1 2025, but performance was under pressure, achieving operating revenue of CNY 2.68 billion, a 4.96% year-on-year decrease, and net profit attributable to shareholders of CNY 233 million, a 40.64% year-on-year decrease, with civil explosives production declining, while energy chemical business optimized production and sales plans, resulting in a 2.22% year-on-year increase in total main product output - Civil explosives production decreased: industrial explosives output **47,700 tons** (**-16.27%**), industrial digital electronic detonators output **4.17 million units** (**-42.21%**). Earth and rock stripping volume decreased by **38.90%** year-on-year[40](index=40&type=chunk) - Energy chemical business production increased: total output of main products (urea, compound fertilizer, ammonium nitrate, melamine) was **519,800 tons** (**+2.22%**), with core product ammonium nitrate output at **210,300 tons**, a **12.95% year-on-year increase**[42](index=42&type=chunk) [Analysis of Core Competencies](index=12&type=section&id=Analysis%20of%20Core%20Competencies) The company's core competencies are primarily reflected in five aspects: benefiting from the vast civil explosives market space brought by Xinjiang's coal production capacity release, a sound "natural gas-ammonia-ammonium nitrate-civil explosives products" circular economy industrial chain, a complete scientific research and innovation system, an innovative group management model, and an experienced management and technical talent team - The company firmly seizes the strategic opportunity of rapid coal production capacity release in Xinjiang, significantly enhancing the integrated competitiveness of its civil explosives business[43](index=43&type=chunk) - A circular economy industrial chain centered on “natural gas → ammonia → ammonium nitrate → civil explosives products” has been formed, enhancing industrial resilience and risk resistance[44](index=44&type=chunk) - The company possesses multiple scientific and technological innovation platforms, including a national industrial design center and a postdoctoral research workstation, and has cultivated **4 high-tech enterprises** and **3 “specialized, refined, distinctive, and innovative” enterprises**[45](index=45&type=chunk) [Main Business Analysis](index=13&type=section&id=Main%20Business%20Analysis) This chapter provides an in-depth analysis of the company's financial condition, with financial data showing declines in both operating revenue and cash flow, while the asset-liability structure remained stable, but monetary funds significantly decreased due to dividend payments, and the company had no significant equity investments during the period, with main profit contributions from chemical subsidiary Yuxiang Huyang and blasting engineering subsidiary Xuefeng Blasting [Financial Statement Item Variation Analysis](index=13&type=section&id=Financial%20Statement%20Item%20Variation%20Analysis) During the reporting period, the company's operating revenue decreased by 4.96% year-on-year, mainly due to declines in both civil explosives and chemical segments, while operating costs slightly increased by 2.13%, and financial expenses significantly decreased by 75.85% due to reduced interest expenses; net cash flows from operating, investing, and financing activities all recorded negative values and decreased significantly year-on-year, with net cash flow from financing activities decreasing by 579.51%, primarily due to the payment of CNY 214 million in cash dividends during the period Financial Statement Major Item Changes | Item | Current Period Amount (CNY) | Prior Year Period Amount (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 2,679,138,751.31 | 2,819,025,828.77 | -4.96 | | Operating Cost | 2,150,026,559.49 | 2,105,168,332.09 | 2.13 | | Financial Expenses | 1,546,138.29 | 6,402,832.17 | -75.85 | | Net Cash Flow from Operating Activities | 92,420,488.41 | 454,603,762.59 | -79.67 | | Net Cash Flow from Investing Activities | -145,255,879.56 | -37,956,731.50 | -282.69 | | Net Cash Flow from Financing Activities | -228,746,773.43 | -33,663,634.94 | -579.51 | [Analysis of Assets and Liabilities](index=14&type=section&id=Analysis%20of%20Assets%20and%20Liabilities) As of the end of the reporting period, the company's total assets were CNY 7.86 billion, a slight decrease of 0.42% from the beginning of the period; major changes on the asset side included a 30.84% decrease in monetary funds due to cash dividend payments, a 25.84% increase in accounts receivable, and a 75.82% increase in other current assets due to increased structured deposits; on the liability side, short-term borrowings increased by 48.56%, and notes payable significantly decreased by 82.23% Major Asset and Liability Item Changes | Item Name | Amount at End of Current Period (CNY ten thousands) | Change from End of Prior Year (%) | Main Reason | | :--- | :--- | :--- | :--- | | Monetary Funds | 69,449.65 | -30.84% | Payment of cash dividends of CNY 214 million | | Accounts Receivable | 111,071.03 | 25.84% | - | | Contract Assets | 10,596.98 | 67.17% | Increase in completed but unsettled projects | | Other Current Assets | 19,069.52 | 75.82% | Increase in structured deposits, large-denomination certificates of deposit by CNY 100 million | | Construction in Progress | 5,790.63 | 144.40% | Increased investment in temporary facilities and electronic detonator production line projects | | Short-term Borrowings | 18,002.70 | 48.56% | New borrowings by subsidiaries | | Notes Payable | 2,319.50 | -82.23% | Partial notes matured and settled at period-end | | Other Payables | 19,348.42 | 63.24% | Increase in dividends payable by CNY 54.55 million | [Analysis of Major Holding and Participating Companies](index=17&type=section&id=Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) The company's main profits are derived from two core subsidiaries: Xinjiang Yuxiang Huyang Chemical Co., Ltd. and Xinjiang Xuefeng Blasting Engineering Co., Ltd., with Yuxiang Huyang achieving a net profit of CNY 97.79 million and Xuefeng Blasting achieving a net profit of CNY 112.44 million during the reporting period, serving as crucial support for the group's performance Major Subsidiary Operating Performance (Unit: CNY ten thousands) | Company Name | Main Business | Total Assets | Net Assets | Operating Revenue | Operating Profit | Net Profit | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Xinjiang Yuxiang Huyang Chemical Co., Ltd. | Chemical raw materials, fertilizer production and sales | 331,498.27 | 243,106.14 | 128,687.86 | 11,607.60 | 9,778.81 | | Xinjiang Xuefeng Blasting Engineering Co., Ltd. | Blasting engineering, civil explosives production and sales | 150,275.53 | 73,506.79 | 79,149.94 | 13,383.89 | 11,244.42 | [Potential Risks](index=17&type=section&id=Potential%20Risks) The company faces major operational risks including safety production risks in the civil explosives and energy chemical industries; intense market competition risks from the opening of the civil explosives market and increased production capacity in Xinjiang; price fluctuation risks of key raw material natural gas; and price fluctuation risks of energy chemical products like LNG and melamine, influenced by macroeconomic conditions and supply-demand dynamics - The company faces four major risks: safety risks, market competition risks, raw material price fluctuation risks, and product price fluctuation risks[62](index=62&type=chunk)[63](index=63&type=chunk) [Corporate Governance, Environment, and Society](index=18&type=section&id=Corporate%20Governance%2C%20Environment%2C%20and%20Society) [Changes in Corporate Governance](index=18&type=section&id=Changes%20in%20Corporate%20Governance) During the reporting period, the company completed the re-election of its board of directors and supervisory board in March 2025, leading to changes in several key executive positions including the Chairman and General Manager, with Mr. Zheng Bingxu elected as the new Chairman and Mr. Tian Yong appointed as General Manager - The company completed the re-election of its board of directors and supervisory board in March 2025, leading to a series of changes in director, supervisor, and senior management positions[65](index=65&type=chunk)[66](index=66&type=chunk) [Environment and Social Responsibility](index=19&type=section&id=Environment%20and%20Social%20Responsibility) The company actively fulfills its social responsibilities, prioritizing safety production with a CNY 50.48 million investment in safety expenses in H1, and promoting technological innovation to enhance inherent safety levels; concurrently, the company leverages its agrochemical technical advantages to serve “agriculture, rural areas, and farmers,” selling 247,400 tons of agricultural fertilizers in H1 and donating 109 tons of fertilizers to the four prefectures of Southern Xinjiang, contributing to rural revitalization - The company invested **CNY 50.48 million** in safety expenses in H1, with a **100% rectification rate** for major hidden dangers[69](index=69&type=chunk)[70](index=70&type=chunk) - Actively serves Xinjiang's “agriculture, rural areas, and farmers” development and rural revitalization by supplying nitro-compound fertilizers and urea, donating fertilizers, and providing technical guidance[70](index=70&type=chunk) [Significant Matters](index=21&type=section&id=Significant%20Matters) [Fulfillment of Commitments](index=21&type=section&id=Fulfillment%20of%20Commitments) During the reporting period, the company and relevant parties (including former shareholder Xinjiang Animal Husbandry Investment and new controlling shareholder Guangdong Hongda, etc.) strictly fulfilled all commitments made during major asset restructuring, initial public offering, and other events, primarily involving maintaining company independence, resolving related-party transactions, avoiding horizontal competition, and share lock-up, with no breaches of commitments observed - All commitments made by the company's actual controller, shareholders, and related parties during or continuing into the reporting period were fulfilled timely and strictly[72](index=72&type=chunk) [Other Significant Matters](index=30&type=section&id=Other%20Significant%20Matters) During the reporting period, the company had no non-operating fund occupation by controlling shareholders or other related parties, no illegal guarantees, and no major litigation or arbitration matters, and the company, its controlling shareholder, and actual controller maintained good credit standing - The company has no major litigation or arbitration matters, and the company, its controlling shareholder, and actual controller maintain good credit standing[81](index=81&type=chunk)[82](index=82&type=chunk) [Share Changes and Shareholder Information](index=32&type=section&id=Share%20Changes%20and%20Shareholder%20Information) [Shareholder Information](index=32&type=section&id=Shareholder%20Information) As of the end of the reporting period, the company had a total of 34,558 common shareholders, with Guangdong Hongda Holding Group Co., Ltd. as the largest shareholder holding 21.00% of shares, and former controlling shareholder Xinjiang Animal Husbandry Investment (Group) Co., Ltd. as the second-largest shareholder holding 13.13% Top Ten Shareholders' Shareholding as of End of Reporting Period | Shareholder Name | Number of Shares Held at Period-End (shares) | Proportion (%) | | :--- | :--- | :--- | | Guangdong Hongda Holding Group Co., Ltd. | 225,055,465 | 21.00 | | Xinjiang Animal Husbandry Investment (Group) Co., Ltd. | 140,717,670 | 13.13 | | Sichuan Jinxiang Sairui Chemical Co., Ltd. | 82,549,757 | 7.70 | | Anhui Jiangnan Chemical Co., Ltd. | 41,420,000 | 3.86 | | Hefei Wufeng Investment Co., Ltd. | 25,360,801 | 2.37 | [Changes in Controlling Shareholder or Actual Controller](index=35&type=section&id=Changes%20in%20Controlling%20Shareholder%20or%20Actual%20Controller) The company completed the share transfer registration of its controlling shareholder via agreement on February 25, 2025, changing the controlling shareholder from Xinjiang Animal Husbandry Investment to Guangdong Hongda Holding Group Co., Ltd., and the actual controller from Xinjiang SASAC to Guangdong Environmental Protection Group Co., Ltd. - The company's control changed on **February 25, 2025**, with the new controlling shareholder being Guangdong Hongda Holding Group Co., Ltd., and the new actual controller being Guangdong Environmental Protection Group Co., Ltd[94](index=94&type=chunk) [Bond-Related Information](index=35&type=section&id=Bond-Related%20Information) [Bond Information](index=35&type=section&id=Bond%20Information) During the reporting period, the company had no outstanding corporate bonds, enterprise bonds, non-financial enterprise debt financing instruments, or convertible corporate bonds - The company has no bond-related financing instruments[96](index=96&type=chunk) [Financial Report](index=36&type=section&id=Financial%20Report) [Financial Statements](index=36&type=section&id=Financial%20Statements) This chapter includes the company's unaudited H1 2025 consolidated and parent company financial statements, comprising the balance sheet, income statement, cash flow statement, and statement of changes in owners' equity, comprehensively reflecting the company's financial position as of June 30, 2025, and its operating results and cash flow for the first half of the year [Notes to Financial Statements](index=53&type=section&id=Notes%20to%20Financial%20Statements) The notes to the financial statements elaborate on the company's basic information, basis of financial statement preparation, significant accounting policies and estimates, and taxation, providing detailed annotations for major items in the consolidated and parent company financial statements, and also disclosing important information such as related party relationships and transactions, financial instrument risks, contingencies, and post-balance sheet events

新疆宝地矿业股份有限公司2025 年半年度报告 公司代码：601121 公司简称：宝地矿业 新疆宝地矿业股份有限公司 2025 年半年度报告 1 / 174 新疆宝地矿业股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会及董事、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、 公司负责人高伟、主管会计工作负责人王灵及会计机构负责人（会计主管人员）江涛声明： 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 本报告期，公司无利润分配及资本公积金转增股本预案。 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的未来计划、发展战略等前瞻性描述，不构成公司对投资者的实质承诺，敬 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 ...

[Definitions](index=4&type=section&id=Section%201%20Definitions) This section defines professional terms and company-specific vocabulary used throughout the report - This section provides definitions for key professional terms and company-specific vocabulary, including company abbreviations, reporting period definitions, and core business products such as steering gears, shock absorbers, high-precision components, lightweight aluminum alloy components, air conditioning compressors, and integrated vehicle thermal management systems[10](index=10&type=chunk) [Company Profile and Key Financial Indicators](index=4&type=section&id=Section%202%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section presents the company's basic information, key financial data, and details on non-recurring gains and losses [Company Information](index=4&type=section&id=Company%20Information) This section provides basic corporate information for Shanghai Beite Technology Co, Ltd, including its name, stock code, and contact details Corporate Profile | Item | Information | | :--- | :--- | | **Company Name** | Shanghai Beite Technology Co, Ltd (Beite Technology) | | **Stock Code** | 603009 (A-Share) | | **Listing Exchange** | Shanghai Stock Exchange | | **Legal Representative** | Jin Kun | | **Secretary of the Board** | Liu Gongyou | [Key Accounting Data and Financial Indicators](index=5&type=section&id=Key%20Accounting%20Data%20and%20Financial%20Indicators) The company achieved significant performance growth during the reporting period, though operating cash flow declined sharply Key Accounting Data | Key Accounting Data (RMB Yuan) | Current Period (Jan-Jun) | Prior Year Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | **Operating Revenue** | 1,113,211,428.03 | 970,428,928.78 | 14.71% | | **Net Profit Attributable to Shareholders** | 55,000,488.70 | 37,895,895.35 | 45.14% | | **Net Profit Attributable to Shareholders (Non-recurring items deducted)** | 51,743,717.41 | 32,083,609.94 | 61.28% | | **Net Cash Flow from Operating Activities** | 25,081,167.18 | 89,417,226.72 | -71.95% | | **Total Assets** | 3,626,591,963.49 | 3,403,854,095.36 (Beginning of Period) | 6.54% (vs Beginning of Period) | Key Financial Ratios | Key Financial Ratios | Current Period (Jan-Jun) | Prior Year Period | Change | | :--- | :--- | :--- | :--- | | **Basic Earnings Per Share (Yuan/Share)** | 0.1625 | 0.1056 | Increased by 53.88% | | **Weighted Average Return on Equity (%)** | 3.3025 | 2.3335 | Increased by 0.97 percentage points | - Explanation for performance growth: - **Revenue Growth**: Primarily driven by steady growth across business segments, especially a significant increase in revenue from the air conditioning compressor business - **Net Profit Growth**: Profitability was enhanced by economies of scale from increased revenue, combined with internal cost reduction measures[19](index=19&type=chunk) [Non-recurring Profit and Loss Items and Amounts](index=6&type=section&id=Non-recurring%20Profit%20and%20Loss%20Items%20and%20Amounts) Non-recurring profit and loss for the period totaled RMB 3.26 million, primarily from government subsidies Breakdown of Non-recurring Items | Non-recurring Profit and Loss Item | Amount (RMB Yuan) | | :--- | :--- | | Gain/Loss on Disposal of Non-current Assets | -243,537.80 | | Government Subsidies Included in Current Profit/Loss | 4,715,540.65 | | Gain/Loss from Financial Assets and Liabilities | -278,104.90 | | Other Non-operating Income and Expenses | 180,479.39 | | **Total** | **3,256,771.29** | [Management Discussion and Analysis](index=7&type=section&id=Section%203%20Management%20Discussion%20and%20Analysis) This section reviews the company's business, operating performance, core competencies, and potential risks [Industry and Core Business Overview](index=7&type=section&id=Industry%20and%20Core%20Business%20Overview) The company operates in the auto parts industry, with business performance closely tied to the automotive market's strong growth in H1 2025 - In the first six months of 2025, China's auto production and sales reached 15.62 million and 15.65 million units, up **12.5% and 11.4% YoY**, respectively; new energy vehicle (NEV) sales grew by 40.3%, with a market penetration rate of **44.3%**[25](index=25&type=chunk) - The company's core business is divided into three main segments: - **Chassis Components**: Leading market position in sub-segments like steering gear racks and shock absorber piston rods - **Lightweight Aluminum Alloy**: Includes control arms and integrated valve blocks - **Air Conditioning Compressors**: Maintains a leading position in the commercial vehicle sector[26](index=26&type=chunk) - The company operates on a direct sales model, serving Tier 1 suppliers and OEMs, and follows a **produce-to-order** manufacturing model based on customer orders[27](index=27&type=chunk)[28](index=28&type=chunk) [Discussion and Analysis of Operations](index=10&type=section&id=Discussion%20and%20Analysis%20of%20Operations) The company advanced key initiatives in sales, R&D, capacity investment, and cost control, driving significant profit growth - Achieved operating revenue of **RMB 1.113 billion**, a YoY increase of **14.71%**, primarily driven by order fulfillment in the air conditioning compressor business[30](index=30&type=chunk) - Key R&D projects include the 40CC electric compressor and integrated thermal management systems, along with developing various screw products (planetary roller screws, ball screws) for applications like rear-wheel steering, smart braking, and humanoid robots; the company notes that the screw products industry is still in its early stages with market demand and mass production timelines remaining uncertain[31](index=31&type=chunk) - In terms of capacity investment, the company is steadily advancing the construction of its Kunshan factory and Thailand production base to meet the development needs of its screw and other businesses[32](index=32&type=chunk) - Through cost reduction and efficiency improvement measures such as supply chain optimization and enhanced internal management, the company achieved a net profit attributable to shareholders of **RMB 55.00 million**, a YoY increase of **45.14%**[33](index=33&type=chunk) [Core Competency Analysis](index=11&type=section&id=Core%20Competency%20Analysis) The company's core strengths lie in its strategic regional layout, leading market position, strong customer base, and advanced R&D capabilities - **Regional Layout Advantage**: Production facilities in key automotive industry hubs like Shanghai, Tianjin, Changchun, and Chongqing enable close proximity to customers, reducing logistics costs and facilitating JIT delivery[35](index=35&type=chunk) - **Industry Position Advantage**: Maintains a **dominant position** in the domestic sub-sectors of steering gear racks and shock absorber piston rods, and a long-standing leading position in commercial vehicle air conditioning compressors[35](index=35&type=chunk)[36](index=36&type=chunk) - **Customer Resource Advantage**: Serves a high-quality customer base including **BYD, ZF, Nexteer, Bosch, Foton Motor, and Sinotruk**, among other renowned domestic and international OEMs and Tier 1 suppliers[36](index=36&type=chunk)[37](index=37&type=chunk) - **R&D and Technology Advantage**: Possesses core processes like heat treatment and precision machining in chassis components; industry-leading aluminum forging technology in lightweighting; and an early-mover advantage with a comprehensive product line in electric compressors, with its fourth-generation products already in mass production[38](index=38&type=chunk)[39](index=39&type=chunk)[40](index=40&type=chunk) [Analysis of Key Operations](index=12&type=section&id=Analysis%20of%20Key%20Operations) This section analyzes operating results, asset and liability structure, and investment activities during the reporting period Core Business Analysis Revenue and costs grew in tandem, with cost growth below revenue growth, while financing costs decreased due to exchange gains Key Financial Statement Items | Item | Current Period (Yuan) | Prior Year Period (Yuan) | Change (%) | Primary Reason | | :--- | :--- | :--- | :--- | :--- | | **Operating Revenue** | 1,113,211,428.03 | 970,428,928.78 | 14.71 | Growth in air conditioning compressor business | | **Operating Cost** | 900,320,435.53 | 794,300,982.25 | 13.35 | Cost increase was less than revenue increase due to scale effects and cost reduction | | **Finance Costs** | 6,989,674.63 | 14,473,781.29 | -51.71 | Exchange gains from the appreciation of the Euro | | **Net Cash Flow from Operating Activities** | 25,081,167.18 | 89,417,226.72 | -71.95 | Decrease in bill discounting compared to the prior year | | **Net Cash Flow from Financing Activities** | 106,802,829.92 | -14,453,176.88 | 838.96 | Increased financing to supplement working capital and for capital expenditures | Analysis of Assets and Liabilities Total assets grew, driven by increases in notes receivable financing and cash, while liabilities saw a rise in provisions and taxes payable Key Asset and Liability Changes | Item | Period-end Balance (Yuan) | Change vs Prior Year-end (%) | Primary Reason | | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | 182,355,194.24 | 21.66 | Increase in financing during the period | | Notes Receivable Financing | 217,368,643.99 | 194.02 | Increase in bills received due to business growth | | Construction in Progress | 300,375,135.52 | 15.88 | Investment in new business capacity and ongoing improvements | | Taxes Payable | 15,151,972.25 | 89.06 | Increase in income tax and VAT payable at period-end | | Provisions | 16,137,914.82 | 210.33 | Normal increase based on actual business and provisioning policies | - As of the end of the reporting period, the company's major restricted assets included **RMB 38.17 million** in cash for pledges, as well as fixed assets (book value **RMB 215 million**) and intangible assets (book value **RMB 61.54 million**) for mortgages[47](index=47&type=chunk) Investment Analysis The company advanced its Thailand production base and Kunshan screw project while establishing new subsidiaries and equity investments - To construct its Thailand production base, the company has established a wholly-owned subsidiary, Beite Singapore Investment, and a wholly-owned sub-subsidiary, Beite Singapore Technology, in Singapore, and has obtained the relevant overseas investment filings and certificates[49](index=49&type=chunk) - A new holding subsidiary, Shanghai Guangyu Zhiyuan Technology Trading Co, Ltd (55% stake), was established, and an equity investment was made in Suzhou Tianji Technology Co, Ltd (18% stake)[50](index=50&type=chunk) - The main construction of the Jiangsu Kunshan planetary roller screw R&D and production base project, with a total investment of **RMB 1.85 billion**, is currently underway[51](index=51&type=chunk) Analysis of Major Subsidiaries and Investees All major subsidiaries were profitable, with Chongqing Beite and Changchun Beite being the top contributors to the company's net profit Performance of Key Subsidiaries | Company Name | Operating Revenue (RMB 10,000) | Operating Profit (RMB 10,000) | Net Profit (RMB 10,000) | | :--- | :--- | :--- | :--- | | Tianjin Beite | 6,682.92 | 750.32 | 625.22 | | **Chongqing Beite** | **11,265.46** | **2,492.61** | **2,118.75** | | **Changchun Beite** | **5,691.31** | **1,404.51** | **1,220.69** | | **Jiangsu Beite** | **11,371.33** | **1,331.50** | **1,128.23** | [Other Disclosures](index=17&type=section&id=Other%20Disclosures) This section outlines key operational risks and reports on the execution of the "Quality and Efficiency Enhancement" action plan Potential Risks The company faces five primary risks related to the macro environment, market competition, supply chain, goodwill impairment, and new business uncertainties - The company faces the following key risks: - **Macroeconomic Risk**: The auto parts industry is susceptible to cyclical economic fluctuations - **Market Competition and Cost Pressure**: Faces dual pressures from OEM price reductions and rising raw material costs like steel and aluminum - **Global Economic Uncertainty**: International geopolitical issues and trade barriers could impact supply chains and transportation costs - **Goodwill Impairment Risk**: The book value of goodwill was **RMB 61.25 million** at period-end; if the performance of Shanghai Beite Guangyu falls short of expectations, there is a risk of impairment - **New Business Uncertainty Risk**: Screw products are targeted at emerging markets, with significant uncertainties in downstream customers, technical solutions, market demand, and mass production timelines; this business currently has no impact on the company's performance[56](index=56&type=chunk)[57](index=57&type=chunk) Execution of "Quality and Efficiency Enhancement with a Focus on Returns" Action Plan The company executed its action plan by focusing on core operations, increasing shareholder returns, and enhancing investor communication - On May 9, 2025, the company implemented its FY2024 profit distribution plan, paying a cash dividend of **RMB 28.77 million** (including tax), which accounted for **40.27%** of the FY2024 net profit attributable to shareholders[59](index=59&type=chunk) - The cumulative cash dividend for the 2022-2024 period was **RMB 63.92 million**, representing **113.98%** of the three-year average distributable net profit[59](index=59&type=chunk) - The company strengthened communication with investors through various online and offline channels, including earnings calls, institutional research meetings, brokerage strategy conferences, and responding to inquiries on the SSE E-interaction platform[60](index=60&type=chunk) [Corporate Governance, Environment, and Society](index=18&type=section&id=Section%204%20Corporate%20Governance,%20Environment,%20and%20Society) This section covers profit distribution plans, equity incentives, and environmental information disclosures [Profit Distribution Proposal](index=19&type=section&id=Profit%20Distribution%20or%20Capital%20Reserve%20Conversion%20Proposal) The company does not plan to distribute profits or capitalize reserves for the first half of 2025 - The profit distribution proposal for the first half of 2025 is no distribution and no capitalization of reserves[64](index=64&type=chunk) [Equity Incentive Plan](index=19&type=section&id=Company%20Equity%20Incentive%20Plan) The company completed the cancellation of certain stock options under its 2022 incentive plan during the reporting period - On March 28, 2025, the Board of Directors and Supervisory Committee approved the cancellation of certain stock options under the 2022 Stock Option Incentive Plan, with the cancellation completed and announced on April 3[65](index=65&type=chunk) [Environmental Information](index=20&type=section&id=Environmental%20Information) Three of the company's subsidiaries are listed as enterprises required to disclose environmental information by law - Three of the company's entities have been included in the list of enterprises required to disclose environmental information by law, and a query index has been provided[67](index=67&type=chunk) [Significant Matters](index=21&type=section&id=Section%205%20Significant%20Matters) This section details the fulfillment of commitments, major contracts, and guarantee activities [Fulfillment of Commitments](index=21&type=section&id=Fulfillment%20of%20Commitments) Most commitments were fulfilled, with the company actively pursuing the remaining performance compensation related to the Shanghai Guangyu acquisition - The performance compensation commitment related to the acquisition of Shanghai Guangyu was not fully met, and the company has pursued recovery through litigation and negotiation; 15 obligors have fulfilled their obligations via court judgment, 17 have reached an agreement and repurchased most shares, and the company has won a first-instance judgment against the remaining obligor[69](index=69&type=chunk)[70](index=70&type=chunk) - Commitments made by the controlling shareholder, actual controller, directors, and senior management regarding the avoidance of horizontal competition, regulation of related-party transactions, share sale restrictions, and measures to mitigate the dilution of immediate returns from refinancing are all being strictly fulfilled[70](index=70&type=chunk)[71](index=71&type=chunk)[72](index=72&type=chunk) [Major Contracts and Guarantees](index=27&type=section&id=Major%20Contracts%20and%20Their%20Performance) The company provided no external guarantees, while its total guarantees for subsidiaries amounted to RMB 121.6 million Guarantee Summary | Guarantee Information (RMB Yuan) | Amount | | :--- | :--- | | Total Guarantees Provided to Subsidiaries During the Period | 9,800,000.00 | | Period-end Guarantee Balance for Subsidiaries (B) | 121,600,000.00 | | Total Guarantee Amount (A+B) | 121,600,000.00 | | Total Guarantee Amount as a Percentage of Net Assets (%) | 7.24 | | Guarantees for Parties with Asset-Liability Ratio >70% (D) | 61,600,000.00 | [Share Capital Changes and Shareholder Information](index=29&type=section&id=Section%206%20Share%20Capital%20Changes%20and%20Shareholder%20Information) This section provides details on the company's shareholder structure as of the end of the reporting period [Shareholder Information](index=29&type=section&id=Shareholder%20Information) The company had 38,079 shareholders, with the top two related parties collectively holding a 39.77% stake - As of the end of the reporting period, the total number of common shareholders was **38,079**[84](index=84&type=chunk) Top Shareholders | Shareholder Name | Period-end Shareholding (Shares) | Percentage (%) | | :--- | :--- | :--- | | Jin Kun | 106,884,100 | 31.57 | | Jin Xiaotang | 27,748,755 | 8.20 | | E Fund Advanced Manufacturing Select Mixed-Initiated Securities Investment Fund | 16,755,991 | 4.95 | | Penghua Carbon Neutral Themed Mixed Securities Investment Fund | 9,866,072 | 2.91 | | Wang Yi | 6,328,500 | 1.87 | - Jin Kun and Jin Xiaotang are father and son, constituting parties acting in concert[88](index=88&type=chunk) [Bond-related Matters](index=32&type=section&id=Section%207%20Bond-related%20Matters) This section confirms the absence of any outstanding corporate or convertible bonds [Corporate Bonds and Convertible Bonds](index=32&type=section&id=Corporate%20Bonds%20and%20Convertible%20Bonds) The company had no outstanding corporate bonds, enterprise bonds, debt financing instruments, or convertible bonds during the period - The company has no matters related to corporate bonds or convertible bonds to report[92](index=92&type=chunk) [Financial Report](index=33&type=section&id=Section%208%20Financial%20Report) This section presents the unaudited financial statements and provides detailed notes on accounting policies and key statement items [Financial Statements](index=33&type=section&id=Financial%20Statements) This section contains the unaudited consolidated and parent company financial statements for the first half of 2025 - This semi-annual report is **unaudited**[4](index=4&type=chunk) - The report provides consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owner's equity[94](index=94&type=chunk)[98](index=98&type=chunk)[102](index=102&type=chunk)[107](index=107&type=chunk)[113](index=113&type=chunk)[117](index=117&type=chunk) [Company Profile](index=49&type=section&id=Company%20Profile) This section details the company's history, from its founding in 2002 to its 2014 IPO and current corporate structure - The company was established in 2002 and was listed on the Shanghai Stock Exchange on July 18, 2014[122](index=122&type=chunk)[126](index=126&type=chunk) - The company operates in the automotive parts and accessories manufacturing industry, with the actual controller being Mr. Jin Kun and his concerted party, Mr. Jin Xiaotang[143](index=143&type=chunk)[144](index=144&type=chunk) - As of the first half of 2025, the company had a total of **16 subsidiaries** within its consolidation scope[146](index=146&type=chunk) [Significant Accounting Policies and Estimates](index=59&type=section&id=Significant%20Accounting%20Policies%20and%20Estimates) This section outlines the key accounting policies and estimates used in preparing the financial statements, including revenue recognition and R&D expenses - The financial statements are prepared on a going concern basis and in accordance with the requirements of Business Accounting Standards[147](index=147&type=chunk)[150](index=150&type=chunk) - **Revenue Recognition Principle**: Revenue is recognized when the customer obtains control of the related goods, distinguishing between performance obligations satisfied over time versus at a point in time; domestic sales are recognized upon receipt of customer settlement statements, while export sales are recognized upon shipment or arrival at the designated location based on terms like FOB, CIF, or DDP[258](index=258&type=chunk)[260](index=260&type=chunk)[261](index=261&type=chunk) - **R&D Expenditure**: Expenditures are classified into research and development phases; research-phase expenses are expensed as incurred, while development-phase expenses are capitalized when specific criteria are met[240](index=240&type=chunk)[242](index=242&type=chunk) [Notes to Consolidated Financial Statements](index=94&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) This section provides detailed supplementary information on key items within the consolidated financial statements, such as receivables, inventory, and goodwill - The top five accounts receivable balances at period-end accounted for **38.20%** of the total balance, with bad debt provisions made based on an aging analysis[314](index=314&type=chunk) - The period-end book value of inventory was **RMB 490 million**, with an inventory write-down provision of **RMB 28.81 million** made, primarily for raw materials and finished goods[348](index=348&type=chunk)[350](index=350&type=chunk) - The period-end book value of construction in progress was **RMB 300 million**, mainly comprising equipment, molds, software installation, and the screw engineering project[368](index=368&type=chunk) - The original book value of goodwill was **RMB 258 million**, with accumulated impairment provisions of **RMB 197 million**, resulting in a period-end book value of **RMB 61.25 million**, all arising from the acquisition of Shanghai Guangyu[377](index=377&type=chunk)[379](index=379&type=chunk)

成都圣诺生物科技股份有限公司2025 年半年度报告 成都圣诺生物科技股份有限公司 2025 年半年度报告 1 / 213 成都圣诺生物科技股份有限公司2025 年半年度报告 重要提示 一、本公司董事会及董事、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、重大风险提示 公司已经在本报告中详细阐述公司在生产经营过程中可能面临的各种风险及应对措施，具体 请查阅"第三节 管理层讨论与分析"之"四、风险因素"。敬请投资者予以关注，注意投资风 险。 六、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：688117 公司简称：圣诺生物 否 十一、 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 否 十二、 其他 无 七、是否存在公司治理特殊安排等重要事项 □适用 √不适用 八、前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的未来计划、发展战略等前瞻性陈述，不构成公司对投资者的实质承诺，请 投资者注意投资风险。 九、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 十、是否存在违反规 ...

卡莱特云科技股份有限公司 2025 年半年度报告全文 卡莱特云科技股份有限公司 2025 年半年度报告 2025-041 2025 年 8 月 15 日 1 卡莱特云科技股份有限公司 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。 公司负责人周锦志、主管会计工作负责人劳雁娥及会计机构负责人(会计 主管人员)劳雁娥声明：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。 本报告中涉及未来计划等前瞻性陈述，不构成公司对投资者的实质承诺， 也不代表公司对未来的盈利预测，能否实现取决于市场状况变化等多种因素， 敬请投资者注意投资风险。 公司需遵守《深圳证券交易所上市公司自律监管指引第 4 号——创业板 行业信息披露》中的"LED 产业链相关业务"的披露要求： 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"，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 ...