华西股份(000936) - 2025 Q2 - 季度财报

Part I. Important Notice, Table of Contents, and Definitions Important Notice The company's board of directors and senior management declare the semi-annual report's content is true, accurate, and complete, with all members attending the review meeting, and disclose a profit distribution plan of 0.20 yuan (tax inclusive) cash dividend per 10 shares, while also noting forward-looking risks - The company's board of directors and senior management guarantee the semi-annual report's content is true, accurate, and complete, free from false records, misleading statements, or major omissions[3] - All directors attended the board meeting to review this semi-annual report[4] Profit Distribution Plan | Indicator | Value | | :--- | :--- | | Distribution Base (shares) | 886,012,887 | | Cash Dividend per 10 Shares (tax incl.) (yuan) | 0.20 | | Bonus Shares (tax incl.) (shares) | 0 | | Capital Reserve Conversion to Share Capital (shares) | 0 | Table of Contents This section lists the report's nine main chapters and their starting page numbers, covering important notices, company profile, management discussion and analysis, corporate governance, significant matters, share changes, bond information, financial report, and other submitted data - The report's clear table of contents includes nine main chapters, covering company operations, finance, governance, and significant matters[7] Definitions This section defines common terms used in the report, including company name, major shareholders, subsidiaries, associates, and key raw materials, ensuring accurate interpretation - The company's full name is Jiangsu Huaxi Village Co., Ltd., abbreviated as Huaxi Shares[12] - The controlling shareholder is Jiangsu Huaxi Group Co., Ltd., and the actual controller is Jiangyin Municipal People's Government State-owned Assets Supervision and Administration Office[12] - Major associates include Yicun Capital (holding 40.92%), Source Photonics (holding 65.50 million shares via Shanghai Qilan), and United Securities (holding 11.73%)[12] Part II. Company Profile and Key Financial Indicators 1. Company Profile This section provides basic company information, including stock abbreviation, code, listing exchange, Chinese and foreign names, and legal representative - The company's stock abbreviation is 'Huaxi Shares', stock code '000936', listed on the Shenzhen Stock Exchange[15] - The company's legal representative is Wu Xieen[15] 2. Contact Person and Information This section provides the contact information for the company's board secretary, including name, address, phone, fax, and email - The company's board secretary is Wang Xueliang, contact number 0510-86217188, email wangxl@cnhuaxicun.com[16] 3. Other Information During the reporting period, the company's registered address, office address, website, email, and information disclosure locations remained unchanged, with details available in the 2024 annual report - The company's contact information, information disclosure, and filing locations remained unchanged during the reporting period[17][18] 4. Key Accounting Data and Financial Indicators In the first half of 2025, the company's operating revenue increased by 5.28%, net profit attributable to parent company surged by 109.15%, net cash flow from operating activities grew by 657.91%, basic earnings per share rose by 111.11%, and weighted average return on net assets improved by 1.61 percentage points, indicating strong profitability and cash flow improvement Key Accounting Data and Financial Indicators for H1 2025 | Indicator | Current Period (yuan) | Prior Period (yuan) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 1.64 billion | 1.55 billion | 5.28% | | Net Profit Attributable to Listed Company Shareholders | 166.01 million | 79.37 million | 109.15% | | Net Profit Attributable to Listed Company Shareholders After Non-Recurring Gains and Losses | 166.01 million | 79.32 million | 109.31% | | Net Cash Flow from Operating Activities | 117.08 million | 15.45 million | 657.91% | | Basic EPS (yuan/share) | 0.19 | 0.09 | 111.11% | | Diluted EPS (yuan/share) | 0.19 | 0.09 | 111.11% | | Weighted Average ROE | 3.15% | 1.54% | Increased by 1.61 percentage points | Asset and Liability Indicators as of H1 2025 End | Indicator | Current Period-End (yuan) | Prior Year-End (yuan) | Period-End vs. Prior Year-End Change | | :--- | :--- | :--- | :--- | | Total Assets | 6.87 billion | 6.59 billion | 4.32% | | Net Assets Attributable to Listed Company Shareholders | 5.33 billion | 5.18 billion | 2.88% | 5. Differences in Accounting Data under Domestic and Overseas Accounting Standards During the reporting period, there were no differences in net profit and net assets between financial reports disclosed under international or overseas accounting standards and Chinese accounting standards - The company had no differences in accounting data under domestic and overseas accounting standards during the reporting period[21][22] 6. Non-Recurring Gains and Losses and Amounts During the reporting period, the company's total non-recurring gains and losses amounted to -3,188.25 yuan, primarily comprising government grants, non-operating income/expenses, and income tax impact, with certain financial asset fair value changes and disposal gains/losses classified as recurring due to alignment with the company's business scope Non-Recurring Gains and Losses Items and Amounts | Item | Amount (yuan) | | :--- | :--- | | Government Grants Recognized in Current P&L (excl.) | 7,500.00 | | Other Non-Operating Income and Expenses (excl. above) | -4,897.84 | | Less: Income Tax Impact | 5,790.41 | | Total | -3,188.25 | - The company classifies fair value changes and disposal gains/losses from trading financial assets and other non-current financial assets as recurring gains/losses, as they align with its business scope of venture capital and external investments[25] Part III. Management Discussion and Analysis 1. Company's Main Business Activities During the Reporting Period The company's main businesses include R&D, production, and sales of polyester chemical fibers, and petrochemical storage and logistics services; during the reporting period, chemical fiber business improved sales revenue and profitability through product structure optimization and technological upgrades, while petrochemical storage business saw decreased revenue and net profit due to market supply and demand (I) Overview of Company's Main Business The company primarily engages in R&D, production, and sales of polyester chemical fibers, and petrochemical storage and logistics services; polyester chemical fiber products are widely used in hygiene materials, medical, and textile sectors, while petrochemical storage provides liquid chemical terminal loading, unloading, and storage services - The company's main businesses are R&D, production, and sales of polyester chemical fibers, and petrochemical storage and logistics services[27] - Polyester chemical fiber products include spunlace-specific, semi-dull, and vortex spinning-specific types, applied in hygiene materials, medical, and textile industries[28] - Petrochemical storage business is conducted by wholly-owned subsidiary Huaxi Terminal, providing liquid chemical terminal loading, unloading, storage, transshipment, and pipeline transportation services, with a total capacity of 300,000 cubic meters[33] (II) Industry Development Overview In H1 2025, the chemical fiber industry experienced voluntary production cuts due to tariff policies and geopolitical factors, followed by a demand rebound, with polyester staple fiber processing fees increasing by 29.66% year-on-year; H2 anticipates increased demand driven by loose monetary policy and economic recovery, particularly in export and domestic bulk consumption - In H1 2025, chemical fiber industry enterprises voluntarily reduced production, followed by a demand rebound, with polyester staple fiber market prices showing a trend of initial decline then rise[41] Polyester Staple Fiber Market Data | Indicator | Jan-Jun 2025 | YoY Change | | :--- | :--- | :--- | | Spot Processing Fee (yuan/ton) | 1,058 | Increased by 29.66% | - In H2 2025, domestic monetary policy is expected to ease, and global economic recovery will drive increased demand for polyester staple fiber in downstream industries like apparel, home textiles, and automotive interiors, with export demand likely to remain high[41] (III) Key Operating Performance During the Reporting Period During the reporting period, the company achieved significant overall performance growth, with operating revenue up 5.28% and net profit attributable to parent company up **109.1