兴化股份：截至2025年6月30日兴化新能源的资产负债率为10.34%

Core Viewpoint - Xinghua Co., Ltd. is enhancing its control over Xinghua New Energy by acquiring an additional 20% stake, which will make it a wholly-owned subsidiary, thereby streamlining internal decision-making processes and improving operational efficiency [1] Group 1: Company Structure and Control - Xinghua New Energy is currently a subsidiary of Xinghua Chemical, with Xinghua Chemical holding 80% of its shares [1] - After the acquisition of the additional 20% stake, Xinghua New Energy will become a wholly-owned subsidiary of Xinghua Chemical [1] Group 2: Financial Metrics - As of June 30, 2025, Xinghua New Energy's debt-to-asset ratio is reported to be 10.34% [1] Group 3: Operational Efficiency - The acquisition is expected to optimize the business and governance structure of Xinghua Chemical, leading to improved operational efficiency and reduced operational costs [1]