浙江野马电池股份有限公司2025 年半年度报告 公司代码：605378 公司简称：野马电池 浙江野马电池股份有限公司 2025 年半年度报告 1 / 156 浙江野马电池股份有限公司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、 公司负责人陈一军、主管会计工作负责人庞亚莉及会计机构负责人（会计主管人员）庞亚 莉声明：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 公司半年度不进行利润分配或资本公积金转增股本。 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 ...

公司代码：600360 公司简称：*ST 华微 吉林华微电子股份有限公司2025 年半年度报告 吉林华微电子股份有限公司 2025 年半年度报告 1 / 169 吉林华微电子股份有限公司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、 公司负责人于胜东、主管会计工作负责人于胜东及会计机构负责人（会计主管人员）张宁 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年半年度利润分配方案为：以公司截至本公告披露日的总股本960,295,304股为基数， 拟每10股派发现金股利0.34元（含税），总计派发现金股利32,650,040.34元（含税），占公司2025 年半年度合并报表归属于母公司股东净利润的30.52%，剩余74,336,775.12元转至以后年度分配。 本次不进行资本公积金转增股本、不送红股。 本报告中如 ...

[Section I Definitions](index=4&type=section&id=Section%20I%20Definitions) This section defines common terms used in the report, ensuring consistent interpretation of key terminology such as "Qingsong Jianhua," "Corps," "First Division," and "Corps SASAC" [Definitions of Common Terms](index=4&type=section&id=Definitions%20of%20Common%20Terms) This section provides definitions for common terms used in the report, clarifying the meanings of key terms like "Qingsong Jianhua," "Corps," "First Division," and "Corps SASAC" to ensure consistent interpretation - The report clarifies that “Qingsong Jianhua” refers to Xinjiang Qingsong Building Materials and Chemicals (Group) Co., Ltd[11](index=11&type=chunk) - “Corps” refers to Xinjiang Production and Construction Corps, and “Corps SASAC” refers to the State-owned Assets Supervision and Administration Commission of Xinjiang Production and Construction Corps[11](index=11&type=chunk) [Section II Company Profile and Key Financial Indicators](index=4&type=section&id=Section%20II%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section provides an overview of the company's basic information, contact details, historical changes, stock information, and key financial performance for the reporting period [I. Company Information](index=4&type=section&id=I.%20Company%20Information) This section outlines the company's basic registration details, including its Chinese name, abbreviation, foreign name, and legal representative, confirming it as Xinjiang Qingsong Building Materials and Chemicals (Group) Co., Ltd - The company's Chinese name is Xinjiang Qingsong Building Materials and Chemicals (Group) Co., Ltd., abbreviated as Qingsong Jianhua[13](index=13&type=chunk) - The company's legal representative is Zheng Shujian[13](index=13&type=chunk) [II. Contact Person and Information](index=4&type=section&id=II.%20Contact%20Person%20and%20Information) This section provides contact details for the company's Board Secretary and Securities Affairs Representative, including names, addresses, phone numbers, and email addresses, to facilitate communication with investors and relevant parties - The Board Secretary is Jiang Junkai, and the Securities Affairs Representative is Xiong Xuehua[14](index=14&type=chunk) - The company's contact address is No. 237 Henglian Alley, Midong South Road, Midong District, Urumqi City, Xinjiang[14](index=14&type=chunk) [III. Changes in Basic Information](index=5&type=section&id=III.%20Changes%20in%20Basic%20Information) This section details the historical changes in the company's registered address, showing two changes in 2019 and 2020, ultimately settling at No. 1395 Binhe Avenue East, Alar City, Xinjiang - The company's registered address changed from Linyuan, Aksu City, Aksu Prefecture, Xinjiang to No. 1245 West Qiushou Avenue, Alar City, Xinjiang on November 25, 2019[16](index=16&type=chunk) - The company's registered address changed from No. 1245 West Qiushou Avenue, Alar City, Xinjiang to No. 1395 Binhe Avenue East, Alar City, Xinjiang on October 12, 2020[16](index=16&type=chunk) [IV. Changes in Information Disclosure and Document Storage Locations](index=5&type=section&id=IV.%20Changes%20in%20Information%20Disclosure%20and%20Document%20Storage%20Locations) This section specifies the company's designated newspapers for information disclosure, website address, and the location for storing semi-annual reports, ensuring investors can access public company information promptly - The company's selected newspapers for information disclosure are Securities Times and Shanghai Securities News[17](index=17&type=chunk) - The website address for publishing the semi-annual report is the official website of the Shanghai Stock Exchange (www.sse.com.cn)[17](index=17&type=chunk) [V. Company Stock Overview](index=5&type=section&id=V.%20Company%20Stock%20Overview) This section provides basic information about the company's stock, including its type, listing exchange, stock abbreviation, and code, to facilitate investor identification and trading - The company's stock type is RMB ordinary shares, listed on the Shanghai Stock Exchange[18](index=18&type=chunk) - The stock abbreviation is “Qingsong Jianhua,” and the stock code is 600425[18](index=18&type=chunk) [VII. Key Accounting Data and Financial Indicators](index=5&type=section&id=VII.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) This section discloses the company's key accounting data and financial indicators for the first half of 2025, showing a significant year-on-year decrease in operating revenue and net profit, but an increase in net cash flow from operating activities 2025 Semi-Annual Key Accounting Data (Consolidated Statements) | Indicator | Current Period (Jan-Jun) | Prior Year Period | Change from Prior Year Period (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,769,734,695.87 RMB | 2,058,573,439.17 RMB | -14.03 | | Total Profit | 154,547,103.86 RMB | 268,566,623.75 RMB | -42.45 | | Net Profit Attributable to Shareholders of the Listed Company | 109,813,490.71 RMB | 215,216,688.06 RMB | -48.98 | | Net Profit Attributable to Shareholders of the Listed Company Excluding Non-Recurring Gains and Losses | 100,722,160.43 RMB | 176,100,954.04 RMB | -42.80 | | Net Cash Flow from Operating Activities | 157,964,897.23 RMB | 131,788,273.14 RMB | 19.86 | | Net Assets Attributable to Shareholders of the Listed Company (Period-end) | 6,331,179,246.92 RMB | 6,390,635,773.62 RMB | -0.93 | | Total Assets (Period-end) | 9,472,455,309.90 RMB | 9,537,614,783.48 RMB | -0.68 | 2025 Semi-Annual Key Financial Indicators (Consolidated Statements) | Indicator | Current Period (Jan-Jun) | Prior Year Period | Change from Prior Year Period (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (RMB/share) | 0.068 | 0.134 | -49.25 | | Diluted Earnings Per Share (RMB/share) | 0.068 | 0.134 | -49.25 | | Basic Earnings Per Share Excluding Non-Recurring Gains and Losses (RMB/share) | 0.063 | 0.110 | -42.73 | | Weighted Average Return on Net Assets (%) | 1.718 | 3.411 | Decreased by 1.693 percentage points | | Weighted Average Return on Net Assets Excluding Non-Recurring Gains and Losses (%) | 1.576 | 2.791 | Decreased by 1.215 percentage points | [IX. Non-Recurring Gains and Losses Items and Amounts](index=6&type=section&id=IX.%20Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) This section itemizes the company's non-recurring gains and losses for the first half of 2025, totaling 9,091,330.28 RMB, primarily comprising government grants, non-operating income, and debt restructuring gains and losses 2025 Semi-Annual Non-Recurring Gains and Losses Items | Non-Recurring Gains and Losses Item | Amount (RMB) | | :--- | :--- | | Gains and losses from disposal of non-current assets | -206,001.43 | | Government grants recognized in current profit or loss | 8,999,565.86 | | Fund occupation fees received from non-financial enterprises recognized in current profit or loss | 89,687.75 | | Debt restructuring gains and losses | 55,285.72 | | Other non-operating income and expenses apart from the above | 1,734,557.46 | | Less: Income tax impact | -1,088,401.44 | | Minority interests impact (after tax) | -493,363.64 | | Total | 9,091,330.28 | [Section III Management Discussion and Analysis](index=7&type=section&id=Section%20III%20Management%20Discussion%20and%20Analysis) This section discusses the company's industry, main business, operational performance, core competencies, and key operating results during the reporting period, along with other significant disclosures [I. Industry and Main Business Overview During the Reporting Period](index=7&type=section&id=I.%20Industry%20and%20Main%20Business%20Overview%20During%20the%20Reporting%20Period) The cement manufacturing industry faces multiple challenges including overcapacity, declining demand, rising costs, and green transformation, while national policies drive energy saving and elimination of outdated capacity, creating both opportunities and pressures; the company's revenue and net profit decreased due to declining cement sales and prices and poor performance in the chemical sector - The cement industry faces severe challenges from overcapacity, declining demand, rising costs, and green and low-carbon transformation[27](index=27&type=chunk) - National policies require that by 2025, the proportion of clinker production capacity meeting energy efficiency benchmark levels or higher in the cement industry should reach **30%**, with capacity below energy efficiency baseline levels largely eliminated[27](index=27&type=chunk)[28](index=28&type=chunk) 2025 Semi-Annual Key Operating Data | Indicator | Amount (RMB 10,000) | Year-on-year Change (%) | | :--- | :--- | :--- | | Operating Revenue | 176,973.47 | -14.03 | | Operating Cost | 141,852.14 | -11.51 | | Net Profit Attributable to Shareholders of the Listed Company | 10,981.35 | -48.98 | - The company's net profit decline is primarily due to reduced cement main business sales volume and lower selling prices leading to decreased gross profit margin, as well as low prices for urea and PVC in the chemical sector[29](index=29&type=chunk) [II. Discussion and Analysis of Operations](index=8&type=section&id=II.%20Discussion%20and%20Analysis%20of%20Operations) During the reporting period, the company's main products, cement, experienced declines in both sales volume and selling prices, while chemical products like urea and PVC also saw decreases in both volume and price, leading to a significant reduction in main business revenue, influenced by real estate adjustments, slower fixed asset investment, and insufficient infrastructure stimulus - The deep adjustment in the real estate industry, slower fixed asset investment, and insufficient infrastructure stimulus led to a decline in overall demand for cement and cement products[29](index=29&type=chunk) - The company's main product, cement, experienced a certain degree of decline in both sales volume and selling price compared to the same period last year[29](index=29&type=chunk) - Prices for urea in the chemical sector fell significantly, PVC prices remained low, and sales volume also decreased[29](index=29&type=chunk) [III. Analysis of Core Competencies During the Reporting Period](index=8&type=section&id=III.%20Analysis%20of%20Core%20Competencies%20During%20the%20Reporting%20Period) The company maintains its core competitiveness in a fiercely competitive market by leveraging its long-term development advantages in Xinjiang, including brand recognition, technological R&D, strategic capacity layout, regional scale, stable resource supply, and policy support, particularly holding a leading position in special cement - The company owns “Qingsong Brand” and “Huangya Brand” Xinjiang famous brand cement, enjoying a high reputation in Xinjiang[31](index=31&type=chunk) - The company has developed various special cement products and obtained API certification from the American Petroleum Institute, making it the only designated supplier of oil well cement for wells over **10,000 meters** deep in Xinjiang[31](index=31&type=chunk) - The company has strategically deployed new dry-process cement production lines in multiple locations across Xinjiang, with a cement production capacity of **15 million tons**, significantly influencing regional market prices[31](index=31&type=chunk)[32](index=32&type=chunk) - The company possesses high-grade limestone resources sufficient for future development and, as a nationally supported regional cement enterprise, benefits from the industrial policy support of the Corps[32](index=32&type=chunk) [IV. Key Operating Performance During the Reporting Period](index=9&type=section&id=IV.%20Key%20Operating%20Performance%20During%20the%20Reporting%20Period) During the reporting period, the company's operating revenue and costs both decreased due to market conditions, while selling, general and administrative, and financial expenses increased, and R&D expenses decreased; the asset-liability structure remained stable, and investment in construction in progress significantly grew, with Alar Qingsong Chemical Co., Ltd. incurring losses among major subsidiaries 2025 Semi-Annual Financial Statement Related Item Changes | Item | Current Period Amount (RMB) | Prior Year Period Amount (RMB) | Change Ratio (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,769,734,695.87 | 2,058,573,439.17 | -14.03 | | Operating Cost | 1,418,521,352.32 | 1,603,043,803.78 | -11.51 | | Selling Expenses | 11,556,839.92 | 9,900,000.29 | 16.74 | | General and Administrative Expenses | 114,695,862.11 | 103,862,700.50 | 10.43 | | Financial Expenses | 18,836,622.30 | 14,091,603.49 | 33.67 | | R&D Expenses | 41,271,228.84 | 50,068,703.20 | -17.57 | | Net Cash Flow from Operating Activities | 157,964,897.23 | 131,788,273.14 | 19.86 | | Net Cash Flow from Investing Activities | -89,246,859.98 | -144,011,567.19 | 38.03 | | Net Cash Flow from Financing Activities | -55,344,146.48 | -283,665,554.66 | 80.49 | - Changes in operating revenue and cost are primarily influenced by declines in sales volume and selling prices of main products[34](index=34&type=chunk) - Increases in selling and general and administrative expenses are mainly due to adjustments in social security contribution base and increased amortization of intangible assets[34](index=34&type=chunk) - The increase in financial expenses is mainly due to a decrease in interest income from deposits[34](index=34&type=chunk) 2025 Semi-Annual Asset and Liability Status Changes | Project Name | Period-end Amount (RMB) | Prior Year-end Amount (RMB) | Period-end Change from Prior Year-end (%) | | :--- | :--- | :--- | :--- | | Monetary Funds | 1,281,180,615.63 | 1,273,126,388.19 | 0.63 | | Accounts Receivable | 1,074,830,040.64 | 1,148,680,945.34 | -6.43 | | Inventories | 716,849,394.14 | 642,553,982.06 | 11.56 | | Construction in Progress | 411,963,907.03 | 295,340,995.35 | 39.49 | | Short-term Borrowings | 443,475,537.18 | 495,153,338.71 | -10.44 | | Long-term Borrowings | 947,512,394.43 | 811,751,720.94 | 16.72 | 2025 Semi-Annual Operating Performance of Major Controlled and Invested Companies | Company Name | Company Type | Operating Revenue (RMB) | Operating Profit (RMB) | Net Profit (RMB) | | :--- | :--- | :--- | :--- | :--- | | Yili Qingsong Nangang Building Materials Co., Ltd. | Subsidiary | 209,929,662.91 | 45,219,723.56 | 43,558,557.99 | | Bazhou Qingsong Luyuan Building Materials Co., Ltd. | Subsidiary | 102,737,062.03 | 11,524,250.31 | 9,881,875.55 | | Alar Qingsong Chemical Co., Ltd. | Subsidiary | 296,064,571.59 | -80,152,953.32 | -84,086,832.73 | | Guoneng Xinjiang Aksu Hydropower Development Co., Ltd. | Invested Company | 33,298,592.34 | 14,170,259.79 | 13,880,979.62 | [V. Other Disclosure Matters](index=13&type=section&id=V.%20Other%20Disclosure%20Matters) The company faces various operational risks including sales price fluctuations, intensified market competition, production safety, rising energy prices, macroeconomic adjustments, changes in industrial policies, management challenges, and seasonality; the company plans to actively respond by strengthening its main business, optimizing sales, reducing costs, improving management, and increasing investment in green and low-carbon initiatives - Fluctuations in the prices of the company's main product, cement, directly impact profitability, and market competition continues to intensify[41](index=41&type=chunk) - Mining and hazardous chemical production pose safety risks, while fluctuations in coal and electricity prices affect cement production costs[41](index=41&type=chunk) - Changes in national macroeconomic control policies and industrial policies, such as energy saving, carbon reduction, and ultra-low emission upgrades, bring investment pressure and operational risks[41](index=41&type=chunk)[42](index=42&type=chunk) - Located in Northwest China, the company is affected by seasonality, with winter construction activities halting, leading to a significant reduction in cement market demand, resulting in lower sales and profits[44](index=44&type=chunk) - The company will address risks by strengthening its core cement business, refining the chemical industry chain, optimizing sales models, improving internal controls, encouraging innovation, and increasing investment in carbon reduction[44](index=44&type=chunk)[45](index=45&type=chunk) [Section IV Corporate Governance, Environment, and Society](index=14&type=section&id=Section%20IV%20Corporate%20Governance%2C%20Environment%2C%20and%20Society) This section covers the company's profit distribution plan and environmental information disclosure for the reporting period [II. Profit Distribution or Capital Reserve Conversion Plan](index=14&type=section&id=II.%20Profit%20Distribution%20or%20Capital%20Reserve%20Conversion%20Plan) The company's board of directors resolved that there is "no" profit distribution plan or capital reserve conversion plan for the reporting period, meaning no profit distribution or capital reserve conversion into share capital will occur - The company's proposed semi-annual profit distribution plan and capital reserve conversion plan are “No”[47](index=47&type=chunk) - The number of bonus shares, dividends, and conversion shares per 10 shares is **0**[47](index=47&type=chunk) [IV. Environmental Information of Listed Companies and Their Major Subsidiaries Included in the List of Enterprises Required to Disclose Environmental Information](index=15&type=section&id=IV.%20Environmental%20Information%20of%20Listed%20Companies%20and%20Their%20Major%20Subsidiaries%20Included%20in%20the%20List%20of%20Enterprises%20Required%20to%20Disclose%20Environmental%20Information) The company and its 13 major subsidiaries are included in the list of enterprises required to disclose environmental information, with query indexes provided for each enterprise's environmental information disclosure report, demonstrating the company's compliance in environmental information transparency - The company has **13** enterprises included in the list of enterprises required to disclose environmental information[48](index=48&type=chunk) - Environmental information disclosure reports for all listed enterprises can be queried on the Xinjiang Uygur Autonomous Region Enterprise Environmental Information Disclosure and Credit Evaluation System[48](index=48&type=chunk)[49](index=49&type=chunk) [Section V Significant Matters](index=17&type=section&id=Section%20V%20Significant%20Matters) This section details the fulfillment of commitments by the actual controller and significant related party transactions during the reporting period [I. Fulfillment of Commitments](index=17&type=section&id=I.%20Fulfillment%20of%20Commitments) Xinjiang Zhongxinjian Energy Mining Group Co., Ltd., the company's actual controller, strictly fulfilled its commitments to resolve horizontal competition and related party transactions during the reporting period, with no violations occurring - Xinjiang Zhongxinjian Energy Mining Group Co., Ltd. committed not to directly or indirectly control, manage, or engage in any economic entity that competes with the listed company in any way[51](index=51&type=chunk) - The committing party also pledged to avoid and reduce unnecessary related party transactions with Qingsong Jianhua and its subsidiaries, ensuring necessary transactions are conducted on fair and equitable principles[51](index=51&type=chunk) - During the reporting period, these commitments were timely and strictly fulfilled, with no unfulfilled situations[51](index=51&type=chunk) [X. Significant Related Party Transactions](index=18&type=section&id=X.%20Significant%20Related%20Party%20Transactions) The company engaged in related party transactions related to its daily operations during the reporting period, primarily involving the purchase of goods and provision of services, which were disclosed in temporary announcements and are continuously being implemented - The company's estimated daily related party transactions for **2025** were disclosed on March 15, 2025[52](index=52&type=chunk) - During the reporting period, there was no progress or change in the subsequent implementation of the disclosed daily related party transactions[52](index=52&type=chunk) [Section VI Share Changes and Shareholder Information](index=20&type=section&id=Section%20VI%20Share%20Changes%20and%20Shareholder%20Information) This section provides an overview of the company's share capital changes and shareholder structure during the reporting period [I. Share Capital Changes](index=20&type=section&id=I.%20Share%20Capital%20Changes) During the reporting period, the company's total share capital and share structure remained unchanged and stable - During the reporting period, the company's total share capital and share structure remained unchanged[56](index=56&type=chunk) [II. Shareholder Information](index=20&type=section&id=II.%20Shareholder%20Information) As of the end of the reporting period, the company had 59,083 common shareholders; the top ten shareholders' holdings remained stable, with Xinjiang Zhongxinjian Energy Mining Group Co., Ltd. as the largest shareholder, and Alar City State-owned Capital Investment and Operation Group Co., Ltd. holding some restricted shares - As of the end of the reporting period, the company had a total of **59,083** common shareholders[57](index=57&type=chunk) Top Ten Shareholders' Holdings as of the End of the Reporting Period | Shareholder Name | Shares Held at Period-end (shares) | Percentage (%) | Number of Restricted Shares Held (shares) | Share Status | Number (shares) | | :--- | :--- | :--- | :--- | :--- | :--- | | Xinjiang Zhongxinjian Energy Mining Group Co., Ltd. | 360,922,546 | 22.49 | 0 | Unrestricted | 0 | | Alar City State-owned Capital Investment and Operation Group Co., Ltd. | 266,358,721 | 16.60 | 225,913,621 | Pledged | 225,913,621 | | National Social Security Fund 503 Portfolio | 44,000,000 | 2.74 | 0 | Unrestricted | 0 | | E Fund Management Co., Ltd. - Central Huijin Asset Management Co., Ltd. - E Fund Management Co., Ltd. - Huijin Asset Management Single Asset Management Plan | 34,080,000 | 2.12 | 0 | Unrestricted | 0 | | Zhang Sufen | 20,800,000 | 1.30 | 0 | Unrestricted | 0 | | Cao Jiapeng | 10,654,800 | 0.66 | 0 | Unrestricted | 0 | | Xinjiang Production and Construction Corps Investment Co., Ltd. | 10,300,000 | 0.64 | 0 | Unrestricted | 0 | | Cao Hongbo | 9,980,900 | 0.62 | 0 | Unrestricted | 0 | | Yinhua Fund Management Co., Ltd. - Agricultural Bank of China - Yinhua CSI Financial Asset Management Plan | 8,634,929 | 0.54 | 0 | Unrestricted | 0 | | Li Weiquan | 8,615,600 | 0.54 | 0 | Unrestricted | 0 | - Alar City State-owned Capital Investment and Operation Group Co., Ltd. holds **45%** equity in Xinjiang Zhongxinjian Energy Mining Group Co., Ltd., but the two shareholders have no other related party relationships and are not acting in concert[60](index=60&type=chunk) - The **225,913,621** restricted shares held by Alar City State-owned Capital Investment and Operation Group Co., Ltd. will become tradable on February 10, 2026[62](index=62&type=chunk) [Section VII Bond-Related Information](index=23&type=section&id=Section%20VII%20Bond-Related%20Information) During the reporting period, the company had no corporate bonds (including enterprise bonds), non-financial enterprise debt financing instruments, or convertible corporate bonds - The company has no corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments[64](index=64&type=chunk) - The company has no convertible corporate bonds[64](index=64&type=chunk) [Section VIII Financial Report](index=24&type=section&id=Section%20VIII%20Financial%20Report) This section presents the company's financial statements, including the audit report status, consolidated and parent company financial statements, basic company information, basis of financial statement preparation, significant accounting policies, taxation, and detailed notes to financial statement items [I. Audit Report](index=24&type=section&id=I.%20Audit%20Report) This semi-annual report is unaudited, and the company declares that the financial report is true, accurate, and complete - This semi-annual report is unaudited[5](index=5&type=chunk) - The company's responsible person, the person in charge of accounting work, and the head of the accounting department declare that the financial report in the semi-annual report is true, accurate, and complete[5](index=5&type=chunk) [II. Financial Statements](index=24&type=section&id=II.%20Financial%20Statements) This section provides the company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity for the first half of 2025, comprehensively presenting the company's financial position, operating results, and cash flow situation Consolidated Balance Sheet (June 30, 2025) | Item | June 30, 2025 (RMB) | December 31, 2024 (RMB) | | :--- | :--- | :--- | | Monetary Funds | 1,281,180,615.63 | 1,273,126,388.19 | | Notes Receivable | 250,400,330.54 | 521,963,152.41 | | Accounts Receivable | 451,071,862.73 | 327,885,459.56 | | Inventories | 716,849,394.14 | 642,553,982.06 | | Total Current Assets | 3,153,854,198.04 | 3,171,856,094.72 | | Long-term Equity Investments | 453,102,901.42 | 522,097,366.41 | | Fixed Assets | 4,520,541,488.91 | 4,612,800,638.67 | | Construction in Progress | 411,963,907.03 | 295,340,995.35 | | Intangible Assets | 445,369,857.82 | 431,383,928.74 | | Total Non-current Assets | 6,318,601,111.86 | 6,365,758,688.76 | | Total Assets | 9,472,455,309.90 | 9,537,614,783.48 | | Short-term Borrowings | 443,475,537.18 | 495,153,338.71 | | Accounts Payable | 460,736,958.81 | 510,434,360.85 | | Total Current Liabilities | 1,656,014,149.48 | 1,836,062,059.26 | | Long-term Borrowings | 947,512,394.43 | 811,751,720.94 | | Total Non-current Liabilities | 1,177,712,490.68 | 1,015,330,207.54 | | Total Liabilities | 2,833,726,640.16 | 2,851,392,266.80 | | Total Equity Attributable to Parent Company Owners | 6,331,179,246.92 | 6,390,635,773.62 | | Total Owners' Equity | 6,638,728,669.74 | 6,686,222,516.68 | | Total Liabilities and Owners' Equity | 9,472,455,309.90 | 9,537,614,783.48 | Consolidated Income Statement (January-June 2025) | Item | 2025 Semi-Annual (RMB) | 2024 Semi-Annual (RMB) | | :--- | :--- | :--- | | Total Operating Revenue | 1,769,734,695.87 | 2,058,573,439.17 | | Total Operating Costs | 1,629,519,829.61 | 1,809,242,078.62 | | Total Profit | 154,547,103.86 | 268,566,623.75 | | Net Profit | 122,810,432.36 | 217,040,710.97 | | Net Profit Attributable to Parent Company Shareholders | 109,813,490.71 | 215,216,688.06 | | Minority Interest Income | 12,996,941.65 | 1,824,022.91 | | Basic Earnings Per Share (RMB/share) | 0.068 | 0.134 | | Diluted Earnings Per Share (RMB/share) | 0.068 | 0.134 | Consolidated Cash Flow Statement (January-June 2025) | Item | 2025 Semi-Annual (RMB) | 2024 Semi-Annual (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 157,964,897.23 | 131,788,273.14 | | Net Cash Flow from Investing Activities | -89,246,859.98 | -144,011,567.19 | | Net Cash Flow from Financing Activities | -55,344,146.48 | -283,665,554.66 | | Net Increase in Cash and Cash Equivalents | 13,373,890.77 | -295,888,848.71 | | Cash and Cash Equivalents at End of Period | 1,272,339,126.36 | 1,303,604,110.07 | [III. Company Basic Information](index=40&type=section&id=III.%20Company%20Basic%20Information) This section provides a detailed overview of the company, including its registered and headquarters addresses, organizational form, unified credit code, listing information, industry, and main business activities, also specifying the approver and approval date of the financial report - The company's registered address is No. 1395 Binhe Avenue East, Alar City, Xinjiang, and its headquarters address is No. 237 Henglian Alley, Midong South Road, Midong District, Urumqi City, Xinjiang[91](index=91&type=chunk) - The company was listed on the Shanghai Stock Exchange on July 24, 2003, with stock code 600425.SH, and belongs to the non-metallic mineral products industry[91](index=91&type=chunk) - Main business activities include the production and sale of cement, cement clinker, prestressed hollow core slabs, chemical products, building materials, and import/export[91](index=91&type=chunk) - The financial report was approved by the company's Board of Directors and issued on August 27, 2025[91](index=91&type=chunk) [IV. Basis of Financial Statement Preparation](index=40&type=section&id=IV.%20Basis%20of%20Financial%20Statement%20Preparation) The company's financial statements are prepared on a going concern basis, and its ability to continue as a going concern for 12 months from the end of the reporting period has been assessed - The company's financial statements are prepared on a going concern basis[92](index=92&type=chunk) - The company assessed its ability to continue as a going concern for **12 months** from the end of the reporting period[93](index=93&type=chunk) [V. Significant Accounting Policies and Estimates](index=40&type=section&id=V.%20Significant%20Accounting%20Policies%20and%20Estimates) This section details the significant accounting policies and estimates used in preparing the company's financial statements, covering enterprise accounting standards, accounting period, operating cycle, functional currency, materiality, business combinations, consolidated financial statements, joint arrangements, cash and cash equivalents, financial instruments, notes receivable, accounts receivable, receivables financing, other receivables, inventories, contract assets, long-term equity investments, investment properties, fixed assets, construction in progress, borrowing costs, intangible assets, impairment of long-term assets, long-term deferred expenses, contract liabilities, employee benefits, revenue, contract costs, government grants, deferred income tax assets/liabilities, and leases - The company's financial statements comply with enterprise accounting standards, accurately and completely reflecting its financial position[94](index=94&type=chunk) - The company uses a **12-month** period as its normal operating cycle and as the standard for classifying assets and liabilities as current or non-current[96](index=96&type=chunk) - The company adopts a combination of aging analysis and individual assessment for impairment provisions of accounts receivable, with specific provision rates for different aging periods[105](index=105&type=chunk)[106](index=106&type=chunk)[107](index=107&type=chunk) - Inventories are valued using the weighted average method upon issuance, perpetual inventory system is maintained, and they are measured at the lower of cost and net realizable value, with provision for inventory write-downs[115](index=115&type=chunk)[116](index=116&type=chunk) - The company accounts for long-term equity investments where it exercises control over the investee using the cost method, and for associates and joint ventures using the equity method[120](index=120&type=chunk) - Fixed assets are depreciated using the straight-line method, with depreciation periods of **20-40 years** for buildings and structures, and **10-20 years** for machinery and equipment[123](index=123&type=chunk) - Revenue is recognized when the customer obtains control of the related goods or services, at the transaction price allocated to the performance obligations; cement product revenue is recognized upon ex-factory or delivery and acceptance[139](index=139&type=chunk)[141](index=141&type=chunk) - Government grants are classified as asset-related or income-related, recognized as deferred income or directly in current profit or loss, respectively[145](index=145&type=chunk)[146](index=146&type=chunk) [VI. Taxation](index=56&type=section&id=VI.%20Taxation) This section details the company's main tax categories and rates, including VAT, urban maintenance and construction tax, and corporate income tax, listing tax entities enjoying different corporate income tax rates; the company and some subsidiaries benefit from tax incentives such as Western Development, R&D expense super deduction, small and micro enterprise tax relief, and immediate VAT refund for resource comprehensive utilization products Main Tax Categories and Rates | Tax Category | Tax Base | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax | Revenue from sales of goods and taxable services | 3%, 5%, 9%, 13% | | Urban Maintenance and Construction Tax | Actually paid VAT | 5%, 7% | | Corporate Income Tax | Taxable income | Calculated based on taxable income | - Xinjiang Qingsong Building Materials and Chemicals (Group) Co., Ltd. and **10** subsidiaries enjoy a **15%** corporate income tax preferential rate under the Western Development policy, valid until December 31, 2030[155](index=155&type=chunk) - The company and some subsidiaries enjoy a **100%** pre-tax super deduction policy for R&D expenses[156](index=156&type=chunk) - Some subsidiaries enjoy preferential corporate income tax policies for small and micro enterprises, where the portion of annual taxable income not exceeding **1 million RMB** is subject to a **25%** reduction in taxable income and taxed at a **20%** rate[157](index=157&type=chunk)[158](index=158&type=chunk) - The company's cement branch, Kuche Qingsong Cement, and other units enjoy an immediate VAT refund policy for resource comprehensive utilization products, receiving a **70%** refund of VAT paid[158](index=158&type=chunk) - Some subsidiaries enjoy the “six taxes and two fees” reduction policy for small and micro enterprises, allowing for a **50%** reduction in resource tax, urban maintenance and construction tax, etc[159](index=159&type=chunk) [VII. Notes to Consolidated Financial Statement Items](index=58&type=section&id=VII.%20Notes%20to%20Consolidated%20Financial%20Statement%20Items) This section provides detailed notes for major items in the consolidated financial statements, including monetary funds, notes receivable, accounts receivable, other receivables, inventories, long-term equity investments, investment properties, fixed assets, construction in progress, intangible assets, long-term deferred expenses, deferred income tax assets/liabilities, other non-current assets, assets with restricted ownership or use rights, short-term borrowings, notes payable, accounts payable, contract liabilities, employee benefits payable, taxes payable, other payables, non-current liabilities due within one year, other current liabilities, long-term borrowings, long-term payables, deferred income, share capital, capital reserves, specific reserves, surplus reserves, undistributed profits, operating revenue and costs, taxes and surcharges, selling expenses, general and administrative expenses, R&D expenses, financial expenses, other income, investment income, credit impairment losses, asset impairment losses, asset disposal gains, non-operating income, non-operating expenses, and income tax expenses, providing period-end balances, beginning-of-period balances, changes, and related explanations for each item Monetary Funds (June 30, 2025) | Item | Period-end Balance (RMB) | Beginning-of-period Balance (RMB) | | :--- | :--- | :--- | | Bank Deposits | 1,272,394,926.36 | 1,259,021,035.59 | | Other Monetary Funds | 8,785,689.27 | 14,105,352.60 | | Total | 1,281,180,615.63 | 1,273,126,388.19 | - Of the period-end bank deposits, **55,800.00 RMB** is frozen due to ETC, and other monetary funds of **8,785,689.27 RMB** are for bills and mining guarantees[162](index=162&type=chunk) Classification of Notes Receivable (June 30, 2025) | Item | Period-end Balance (RMB) | Beginning-of-period Balance (RMB) | | :--- | :--- | :--- | | Bank Acceptance Bills | 241,935,057.51 | 512,073,045.80 | | Commercial Acceptance Bills | 8,910,813.72 | 10,410,638.54 | | Less: Impairment Provision | 445,540.69 | 520,531.93 | | Total | 250,400,330.54 | 521,963,152.41 | Aging Disclosure of Accounts Receivable (June 30, 2025) | Aging | Period-end Book Balance (RMB) | Beginning-of-period Book Balance (RMB) | | :--- | :--- | :--- | | Within 1 year (inclusive) | 360,813,295.36 | 225,808,993.71 | | 1 to 2 years | 95,115,821.75 | 98,107,457.00 | | 2 to 3 years | 22,141,662.27 | 25,060,943.93 | | Over 3 years | 26,714,547.33 | 28,269,590.90 | | Total | 504,785,328.71 | 377,246,985.54 | Inventory Classification (June 30, 2025) | Item | Period-end Book Value (RMB) | Beginning-of-period Book Value (RMB) | | :--- | :--- | :--- | | Raw Materials | 261,404,553.99 | 357,868,224.24 | | Work in Progress | 228,318,380.78 | 90,681,746.77 | | Finished Goods | 222,339,470.72 | 189,585,057.71 | | Revolving Materials | 4,786,988.65 | 4,418,953.34 | | Total | 716,849,394.14 | 642,553,982.06 | Fixed Assets (June 30, 2025) | Item | Period-end Book Value (RMB) | Beginning-of-period Book Value (RMB) | | :--- | :--- | :--- | | Buildings and Structures | 2,460,066,262.13 | 2,436,700,605.26 | | Machinery and Equipment | 1,994,138,837.82 | 2,100,263,999.92 | | Transportation Vehicles | 16,665,884.38 | 18,283,400.56 | | Other Equipment | 49,670,504.58 | 57,552,632.93 | | Total | 4,520,541,488.91 | 4,612,800,638.67 | Construction in Progress (June 30, 2025) | Item | Period-end Book Value (RMB) | Beginning-of-period Book Value (RMB) | | :--- | :--- | :--- | | Denitrification System Ultra-low Emission High-temperature SCR Technology Transformation and Application | 16,659,573.45 | 16,659,573.45 | | Waste Heat Power Generation Project | 16,941,783.00 | 16,941,783.00 | | New Line Cement Steel Silo Repair and Reinforcement Project | 16,883,630.19 | 0.00 | | Kiln Tail Flue Gas NOx Ultra-low Emission Technical Transformation Project | 14,117,073.97 | 10,309,734.52 | | Distributed Wind Power Project | 43,773,060.20 | 39,731,392.37 | | Ultra-low Emission Transformation Project | 21,328,001.08 | 16,769,911.49 | | Other Projects | 100,325,597.68 | 105,018,180.27 | | Total | 411,963,907.03 | 295,340,995.35 | Operating Revenue and Operating Costs (January-June 2025) | Item | Current Period Amount - Revenue (RMB) | Current Period Amount - Cost (RMB) | Prior Period Amount - Revenue (RMB) | Prior Period Amount - Cost (RMB) | | :--- | :--- | :--- | :--- | :--- | | Main Business | 1,748,083,229.37 | 1,401,051,670.35 | 2,027,381,752.71 | 1,577,107,808.53 | | Other Businesses | 21,651,466.50 | 17,469,681.97 | 31,191,686.46 | 25,935,995.25 | | Total | 1,769,734,695.87 | 1,418,521,352.32 | 2,058,573,439.17 | 1,603,043,803.78 | Operating Revenue and Operating Cost Breakdown (January-June 2025) | Product Type | Operating Revenue (RMB) | Operating Cost (RMB) | | :--- | :--- | :--- | | Cement | 1,243,901,470.88 | 889,426,906.04 | | Cement Products | 60,973,667.60 | 49,848,747.34 | | Chemical Products | 439,739,103.19 | 457,978,708.01 | | Other | 3,468,987.70 | 3,797,308.95 | | Other Businesses | 21,651,466.50 | 17,469,681.97 | | Total | 1,769,734,695.87 | 1,418,521,352.32 | Financial Expenses (January-June 2025) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Interest Expense | 21,294,306.54 | 26,758,438.26 | | Less: Interest Income | 5,438,592.24 | 12,081,049.21 | | Exchange Loss | 2,639,425.39 | 0.00 | | Less: Exchange Gain | 0.00 | 833,484.66 | | Handling Fees | 341,482.61 | 247,699.10 | | Total | 18,836,622.30 | 14,091,603.49 | Income Tax Expense (January-June 2025) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Current Income Tax Expense | 31,660,411.22 | 51,186,675.55 | | Deferred Income Tax Expense | 76,260.28 | 339,237.23 | | Total | 31,736,671.50 | 51,525,912.78 | [VIII. Research and Development Expenses](index=114&type=section&id=VIII.%20Research%20and%20Development%20Expenses) This section discloses the company's R&D expenses for the reporting period, all of which were expensed and recognized in current profit or loss, primarily comprising salaries, daily consumables, and maintenance costs, with a year-on-year decrease in R&D expenses for the current period R&D Expenses by Nature of Expense (January-June 2025) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Salaries and Wages | 5,537,554.77 | 3,689,669.13 | | Depreciation and Amortization | 968,672.64 | 1,796,406.97 | | Daily Consumables | 23,463,552.55 | 14,007,475.52 | | Maintenance | 11,291,905.18 | 30,568,937.98 | | Other | 9,543.70 | 6,213.60 | | Total | 41,271,228.84 | 50,068,703.20 | | Of which: Expensed R&D Expenses | 41,271,228.84 | 50,068,703.20 | - Total R&D expenses for the current period were **41,271,228.84 RMB**, a year-on-year decrease of **17.57%**[34](index=34&type=chunk)[320](index=320&type=chunk) [IX. Changes in Consolidation Scope](index=115&type=section&id=IX.%20Changes%20in%20Consolidation%20Scope) During the reporting period, the company did not experience significant changes in its consolidation scope, such as business combinations involving non-common control, business combinations involving common control, reverse acquisitions, or disposal of subsidiaries leading to loss of control - There were no business combinations involving non-common control in the current period[321](index=321&type=chunk) - There were no business combinations involving common control in the current period[321](index=321&type=chunk) - There was no disposal of subsidiaries leading to loss of control in the current period[321](index=321&type=chunk) [X. Interests in Other Entities](index=116&type=section&id=X.%20Interests%20in%20Other%20Entities) This section details the company's interests in subsidiaries, joint ventures, and associates, including the main operating locations, registered capital, business nature, shareholding percentages, and acquisition methods for each subsidiary, as well as key financial information and excess losses for significant associates Composition of Major Subsidiaries | Subsidiary Name | Main Operating Location | Registered Capital (RMB) | Business Nature | Direct Shareholding (%) | | :--- | :--- | :--- | :--- | :--- | | Aksu Qingsong Commercial Concrete Co., Ltd. | Aksu City | 4,100.00 | Industrial | 100 | | Yili Qingsong Building Materials Co., Ltd. | Yining County | 87,288.87 | Industrial | 80 | | Bazhou Qingsong Luyuan Building Materials Co., Ltd. | Korla City | 36,159.00 | Industrial | 65 | | Kuche Qingsong Cement Co., Ltd. | Kuqa County | 72,264.11 | Industrial | 100 | | Alar Qingsong Chemical Co., Ltd. | Alar City | 174,223.88 | Industrial | 98.92 | | Xinjiang Qingsong Building Materials Co., Ltd. | Urumqi City | 149,889.79 | Industrial | 100 | Key Financial Information of Significant Non-Wholly Owned Subsidiaries (Current Period) | Subsidiary Name | Operating Revenue (RMB) | Net Profit (RMB) | Total Comprehensive Income (RMB) | Cash Flow from Operating Activities (RMB) | | :--- | :--- | :--- | :--- | :--- | | Alar Qingsong Chemical Co., Ltd. | 296,064,571.59 | -84,086,832.73 | -84,086,832.73 | -95,506,870.82 | | Bazhou Qingsong Luyuan Building Materials Co., Ltd. | 102,737,062.03 | 9,881,875.55 | 9,881,875.55 | 25,832,596.88 | | Yili Qingsong Nangang Building Materials Co., Ltd. | 209,929,662.91 | 43,558,557.99 | 43,558,557.99 | 31,482,315.62 | Key Financial Information of Significant Associates (Current Period) | Associate Name | Operating Revenue (RMB) | Net Profit (RMB) | Total Comprehensive Income (RMB) | | :--- | :--- | :--- | :--- | | Guoneng Xinjiang Aksu Hydropower Development Co., Ltd. | 33,298,592.34 | 13,880,979.62 | 13,880,979.62 | | Guodian Qingsong Turpan New Energy Co., Ltd. | 53,252,167.51 | 218,575.37 | 218,575.37 | | Xinjiang Xijian Qingsong Construction Co., Ltd. | 58,631,947.71 | 345,551.89 | 345,551.89 | Excess Losses Incurred by Joint Ventures or Associates (June 30, 2025) | Joint Venture or Associate Name | Accumulated Unrecognized Losses at Period-end (RMB) | | :--- | :--- | | Guoneng Xibu Energy Qingsong Xinjiang Mining Co., Ltd. | 98,440,530.14 | | Xinjiang Xiyu Pingfu Environmental Engineering Co., Ltd. | 3,387,532.33 | [XI. Government Grants](index=123&type=section&id=XI.%20Government%20Grants) This section discloses the company's government grant-related liability items and their changes at the end of the reporting period, as well as the amount of government grants recognized in current profit or loss, primarily for asset-related and income-related projects Government Grant-Related Liability Items (June 30, 2025) | Financial Statement Item | Beginning-of-period Balance (RMB) | New Grants in Current Period (RMB) | Amount Recognized in Non-operating Income in Current Period (RMB) | Amount Transferred to Other Income in Current Period (RMB) | Period-end Balance (RMB) | Asset/Income Related | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | 30,000-ton Chlorinated Polymer Production Construction Project | 3,327,731.05 | 0.00 | 0.00 | 201,680.67 | 3,126,050.38 | Asset-related | | Innovation Development Award | 5,823,529.40 | 0.00 | 0.00 | 352,941.18 | 5,470,588.22 | Asset-related | | Energy Saving and Emission Reduction Innovation Technical Transformation Project | 50,374,708.21 | 11,426,000.00 | 0.00 | 1,011,141.36 | 60,789,566.85 | Asset-related | | Waste Heat Power Generation Special Fund | 51,859,085.27 | 0.00 | 0.00 | 2,020,702.40 | 49,838,382.87 | Asset-related | | Corps Support for Southern Xinjiang Division Cities Industrial Development Award Fund | 20,487,900.00 | 0.00 | 0.00 | 865,290.01 | 19,622,609.99 | Asset-related | | Total | 144,266,518.60 | 35,621,175.51 | 0.00 | 8,999,565.86 | 170,888,128.25 | / | Government Grants Recognized in Current Profit or Loss (January-June 2025) | Type | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Asset-related | 6,091,820.49 | 7,548,729.75 | | Income-related | 2,907,745.37 | 0.00 | | Total | 8,999,565.86 | 7,548,729.75 | [XII. Risks Related to Financial Instruments](index=124&type=section&id=XII.%20Risks%20Related%20to%20Financial%20Instruments) This section states that the company does not engage in hedging activities for risk management, nor does it apply hedge accounting, and there are no eligible hedging activities for which hedge accounting is not applied - The company does not engage in hedging activities for risk management[337](index=337&type=chunk) - The company does not apply hedge accounting[337](index=337&type=chunk) [XIII. Disclosure of Fair Value](index=125&type=section&id=XIII.%20Disclosure%20of%20Fair%20Value) This section states that the company has not disclosed the fair value of assets and liabilities measured at fair value at the end of the reporting period, nor has it provided information on the basis for determining market prices, valuation techniques, and significant parameters for Level 1, Level 2, and Level 3 fair value measurement items, both recurring and non-recurring - The company has not disclosed the fair value of assets and liabilities measured at fair value at the end of the reporting period[338](index=338&type=chunk) - The company has not disclosed the basis for determining market prices for recurring and non-recurring Level 1, Level 2, and Level 3 fair value measurement items[338](index=338&type=chunk) [XIV. Related Parties and Related Party Transactions](index=126&type=section&id=XIV.%20Related%20Parties%20and%20Related%20Party%20Transactions) This section provides detailed information on the company's parent company, subsidiaries, joint ventures, associates, and other related parties, and lists related party transactions during the reporting period, including purchases and sales of goods, provision and acceptance of services, related party leases, and unsettled balances of receivables and payables with related parties - The company's parent company is Xinjiang Zhongxinjian Energy Mining Group Co., Ltd., with a registered capital of **10 billion RMB**, and both its shareholding and voting rights percentages are **22.49%**[340](index=340&type=chunk) - The company's ultimate controlling party is the State-owned Assets Supervision and Administration Commission of Xinjiang Production and Construction Corps[340](index=340&type=chunk) Related Party Transactions for Purchase/Acceptance of Services (January-June 2025) | Related Party | Related Transaction Content | Current Period Amount (RMB) | Approved Transaction Amount (RMB) | | :--- | :--- | :--- | :--- | | Southern Xinjiang Energy (Group) Co., Ltd. | Purchase of goods | 150,965,139.58 | 300,000,000.00 | | Xinjiang Production and Construction Corps Petroleum Co., Ltd. | Purchase of goods | 1,263,151.60 | 6,000,000.00 | | Xinjiang Xibei Xingye Urban Investment Group Co., Ltd. | Purchase of goods | 3,554.70 | 3,000,000.00 | Related Party Transactions for Sale of Goods/Provision of Services (January-June 2025) | Related Party | Related Transaction Content | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | :--- | | Xinjiang Tarim Agricultural Reclamation Co., Ltd. | Sale of goods | 43,929,533.21 | 74,648,667.41 | | Xinjiang Tajian 359 Construction Engineering Co., Ltd. | Sale of goods | 8,764,555.42 | 5,725,097.52 | | Xinjiang Chengshi Trading Co., Ltd. | Sale of goods | 599,728.32 | 0.00 | Key Management Personnel Remuneration (January-June 2025) | Item | Current Period Amount (RMB 10,000) | Prior Period Amount (RMB 10,000) | | :--- | :--- | :--- | | Key Management Personnel Remuneration | 301.13 | 268.93 | Receivables from Related Parties (June 30, 2025) | Project Name | Related Party | Period-end Book Balance (RMB) | | :--- | :--- | :--- | | Accounts Receivable | Xinjiang Tajian 359 Construction Engineering Co., Ltd. | 37,957,084.33 | | Dividends Receivable | Xinjiang Xijian Qingsong Construction Co., Ltd. | 56,559,376.04 | | Dividends Receivable | Kashi Xijian Qingsong Construction Co., Ltd. | 10,126,280.00 | Payables to Related Parties (June 30, 2025) | Project Name | Related Party | Period-end Book Balance (RMB) | | :--- | :--- | :--- | | Accounts Payable | Southern Xinjiang Energy (Group) Co., Ltd. | 30,908,297.36 | | Other Payables | Xinjiang Tarim Construction and Installation Engineering (Group) Co., Ltd. | 288,192.90 | [XV. Share-Based Payments](index=134&type=section&id=XV.%20Share-Based%20Payments) During the reporting period, the company had no share-based payment related matters, including details of equity instruments, outstanding share options or other equity instruments at period-end, equity-settled or cash-settled share-based payment situations, and share-based payment expenses or modifications/terminations - The company had no details of equity instruments in the current period[360](index=360&type=chunk) - The company had no equity-settled share-based payment situations in the current period[360](index=360&type=chunk) - The company had no cash-settled share-based payment situations in the current period[360](index=360&type=chunk) [XVI. Commitments and Contingencies](index=134&type=section&id=XVI.%20Commitments%20and%20Contingencies) The company disclosed significant external commitments, primarily involving a joint venture with Guodian Xinjiang Electric Power Co., Ltd. to establish a mining company for the Dapingtan Coal Mine, which had not yet commenced production by the end of the reporting period; there were no significant contingent matters requiring disclosure at the end of the reporting period - The company jointly invested with Guodian Xinjiang Electric Power Co., Ltd. to establish a mining company, holding a **30.20%** stake, to develop the Dapingtan Coal Mine; as of the end of the period, the project had not yet commenced production[360](index=360&type=chunk) - The company had no significant contingent matters requiring disclosure[361](index=361&type=chunk) [XVII. Events After the Balance Sheet Date](index=135&type=section&id=XVII.%20Events%20After%20the%20Balance%20Sheet%20Date) From the end of the reporting period to the approval date of the financial report, the company did not experience any significant non-adjusting events, profit distribution situations, or sales returns, or other events after the balance sheet date - The company had no significant non-adjusting events[361](index=361&type=chunk) - The company had no profit distribution situations[361](index=361&type=chunk) - The company had no sales returns[361](index=361&type=chunk) [XVIII. Other Significant Matters](index=135&type=section&id=XVIII.%20Other%20Significant%20Matters) This section states that during the reporting period, the company did not experience prior period accounting error corrections, significant debt restructurings, asset exchanges, annuity plans, discontinued operations, segment information disclosures, or other significant transactions and matters affecting investor decisions - The company had no prior period accounting error corrections in the current period[361](index=361&type=chunk) - The company had no significant debt restructurings in the current period[361](index=361&type=chunk) - The company had no asset exchanges in the current period[361](index=361&type=chunk) - The company had no discontinued operations in the current period[362](index=362&type=chunk) [XIX. Notes to Parent Company Financial Statement Items](index=136&type=section&id=XIX.%20Notes%20to%20Parent%20Company%20Financial%20Statement%20Items) This section provides detailed notes for major items in the parent company's financial statements, including accounts receivable, other receivables, and long-term equity investments, covering aging, impairment provision, nature of amounts, period-end balances, and related party transactions for each item Parent Company Aging Disclosure of Accounts Receivable (June 30, 2025) | Aging | Period-end Book Balance (RMB) | Beginning-of-period Book Balance (RMB) | | :--- | :--- | :--- | | Within 1 year (inclusive) | 61,492,261.10 | 34,537,428.28 | | 1 to 2 years | 1,150,139.18 | 2,034,850.01 | | Over 5 years | 4,092,911.79 | 4,102,461.79 | | Total | 66,735,312.07 | 40,674,740.08 | Parent Company Other Receivables Items (June 30, 2025) | Item | Period-end Balance (RMB) | Beginning-of-period Balance (RMB) | | :--- | :--- | :--- | | Dividends Receivable | 61,378,494.00 | 15,148,254.00 | | Other Receivables | 1,889,828,017.74 | 1,724,036,401.21 | | Total | 1,951,206,511.74 | 1,739,184,655.21 | Parent Company Other Receivables by Nature of Amount (June 30, 2025) | Nature of Amount | Period-end Book Balance (RMB) | Beginning-of-period Book Balance (RMB) | | :--- | :--- | :--- | | Deposits, Guarantees, and Petty Cash | 849,380.00 | 1,028,730.00 | | Receivables from Subsidiaries | 1,857,915,644.13 | 1,689,957,190.40 | | Inter-company Current Accounts | 918,770.07 | 1,032,696.19 | | Receivables for Demolition Compensation | 30,851,052.50 | 30,851,052.50 | | External Unit Loans | 1,995,068.75 | 4,000,110.98 | | Impairment Provision | 2,709,470.33 | 2,833,378.86 | | Total | 1,889,828,017.74 | 1,724,036,401.21 | Parent Company Long-term Equity Investments (June 30, 2025) | Item | Period-end Balance (Book Value) (RMB) | Beginning-of-period Balance (Book Value) (RMB) | | :--- | :--- | :--- | | Investments in Subsidiaries | 7,283,466,295.08 | 7,283,466,295.08 | | Investments in Associates and Joint Ventures | 453,102,901.42 | 522,097,366.41 | | Total | 7,736,569,196.50 | 7,805,563,661.49 | Parent Company Operating Revenue and Operating Costs (January-June 2025) | Item | Current Period Amount - Revenue (RMB) | Current Period Amount - Cost (RMB) | Prior Period Amount - Revenue (RMB) | Prior Period Amount - Cost (RMB) | | :--- | :--- | :--- | :--- | :--- | | Main Business | 184,708,065.80 | 113,475,155.69 | 264,445,506.87 | 174,235,550.44 | | Other Businesses | 14,193,171.06 | 7,234,531.67 | 15,270,769.86 | 7,828,530.93 | | Total | 198,901,236.86 | 120,709,687.36 | 279,716,276.73 | 182,064,081.37 | [XX. Supplementary Information](index=149&type=section&id=XX.%20Supplementary%20Information) This section provides supplementary financial information, including a detailed statement of non-recurring gains and losses for the current period, return on net assets, and earnings per share, confirming no differences in accounting data under domestic and international accounting standards Current Period Non-Recurring Gains and Losses Details (January-June 2025) | Item | Amount (RMB) | | :--- | :--- | | Gains and losses from disposal of non-current assets | -206,001.43 | | Government grants recognized in current profit or loss | 8,999,565.86 | | Fund occupation fees received from non-financial enterprises recognized in current profit or loss | 89,687.75 | | Debt restructuring gains and losses | 55,285.72 | | Other non-operating income and expenses apart from the above | 1,734,557.46 | | Less: Income tax impact | -1,088,401.44 | | Minority interests impact (after tax) | -493,363.64 | | Total | 9,091,330.28 | Return on Net Assets and Earnings Per Share (January-June 2025) | Profit for the Reporting Period | Weighted Average Return on Net Assets (%) | Basic Earnings Per Share (RMB) | Diluted Earnings Per Share (RMB) | | :--- | :--- | :--- | :--- | | Net Profit Attributable to Ordinary Shareholders of the Company | 1.718 | 0.068 | 0.068 | | Net Profit Attributable to Ordinary Shareholders of the Company Excluding Non-Recurring Gains and Losses | 1.576 | 0.063 | 0.063 | - The company has no differences in accounting data under domestic and international accounting standards[404](index=404&type=chunk)

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厦门延江新材料股份有限公司 2025 年半年度报告全文 厦门延江新材料股份有限公司 2025 年半年度报告 2025-040 2025 年 8 月 27 日 1 厦门延江新材料股份有限公司 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。 公司负责人谢继华、主管会计工作负责人刘培源及会计机构负责人(会计 主管人员)周春波声明：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。 本报告所涉及的发展战略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。 本公司请投资者认真阅读本半年度报告全文，并特别注意下列风险因素： 宏观经济波动的风险、汇率波动风险、原材料价格波动风险、对外投资管理 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"。 敬请广大投资者注意投资风险。 1、国际宏观环境不确定性的风险 ...

广州华研精密机械股份有限公司 2025 年半年度报告全文 广州华研精密机械股份有限公司 2025 年半年度报告 【2025 年 8 月 27 日】 1 广州华研精密机械股份有限公司 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。 公司负责人包贺林、主管会计工作负责人李敏怡及会计机构负责人(会计 主管人员)曾卫群声明：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。 （1）创新风险 随着行业技术发展，客户对于瓶坯智能成型系统的注塑量、生产周期、 成型效率、运行稳定性、耗电量等性能和能耗指标提出了更高的要求，不同 行业的客户亦对于塑料瓶包装的材质、光照、阻隔、外观等要求不尽相同。 公司需研发新技术、新产品以响应客户需求、顺应行业发展趋势，并针对不 同下游应用领域进行相应的技术开发和储备。如果公司未能敏锐把握市场动 态、研发方向偏离市场预期，或在设计、研发、试验产品的过程中考虑不周 或设计不当，可能导致研发 ...

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江苏三房巷聚材股份有限公司2025 年半年度报告 公司代码：600370 公司简称：三房巷 转债代码：110092 转债简称：三房转债 江苏三房巷聚材股份有限公司 2025 年半年度报告 1 / 170 江苏三房巷聚材股份有限公司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。 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 四、 公司负责人卞惠良、主管会计工作负责人卞永刚及会计机构负责人（会计主管人员）俞红 霞声明：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 本年度报告内容涉及的未来计划、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，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 ...

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