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华翔股份拟募13.08亿扩产 降本增效半年净利涨超两成

Core Viewpoint - Huaxiang Co., Ltd. (603112.SH) is actively enhancing its competitiveness through a significant financing plan, aiming to raise up to 1.308 billion yuan via convertible bonds for capacity expansion and working capital [1][2][3] Financing Plan - The company plans to issue convertible bonds to raise no more than 1.308 billion yuan, with net proceeds allocated for core component capacity enhancement, industry chain extension projects, and debt repayment [2][3] - The total investment for capacity enhancement and industry chain extension projects is 1.163 billion yuan, with 1.058 billion yuan sourced from the raised funds and the remainder from self-funding [2] Financial Performance - In the first half of 2025, the company achieved a net profit attributable to shareholders of 290 million yuan, marking a 25.66% year-on-year increase, the highest for the same period [1][4] - Revenue for the same period reached 1.976 billion yuan, reflecting a 2.38% year-on-year growth [4] Operational Efficiency - The company has seen significant improvements in operational efficiency, with gross margin increasing from 21.4% in the first half of 2024 to 23.3% in the first half of 2025, and operating expense ratio decreasing from 10.0% to 8.4% during the same period [5] R&D Investment - Huaxiang Co., Ltd. has consistently invested in R&D, with expenditures exceeding 100 million yuan annually from 2022 to 2024, and a R&D expense ratio of 3.29% in the first half of 2025 [4]