KHtech(SH:603052) 2 1 Shi Ji Jing Ji Bao Dao·2025-10-17 03:54Core Viewpoint - The company, 可川科技, has decided to terminate its plan to issue convertible bonds, originally intended to raise up to 500 million yuan for a lithium battery composite materials project, after careful consideration of its development strategy and actual circumstances [1][2]. Group 1: Company Decision - The convertible bond issuance plan was initiated in February 2025 and had received acceptance from the Shanghai Stock Exchange, undergoing multiple rounds of review [2]. - The decision to terminate the bond issuance aims to further optimize the company's capital allocation and project layout [2]. Group 2: Financial Performance - The company's recent financial performance has shown significant pressure, with operating revenues of 905.29 million yuan in 2022, 723.27 million yuan in 2023, and 782.65 million yuan in 2024, followed by 419.54 million yuan in the first half of 2025, indicating a downward trend [2]. - The net profit attributable to the parent company has also decreased, with figures of 158.48 million yuan in 2022, 95.33 million yuan in 2023, 66.41 million yuan in 2024, and 25.21 million yuan in the first half of 2025 [2]. - The overall gross margin has declined from 27.25% to 17.67% during the reporting period, primarily due to intensified industry competition and fluctuations in raw material prices [2]. - The company's asset-liability ratio has remained within the range of 27% to 33%, with net cash flow from operating activities showing significant volatility, recorded at 192.81 million yuan in 2023 and slightly decreasing to 182.04 million yuan in 2024 [2].