鑫科材料：拟向控股股东定增募资不超3.5亿元偿债补流 短期借款占比较高

Core Viewpoint - Xinke Materials (600255.SH) plans to issue A-shares to specific investors, raising up to 350 million yuan to repay bank loans and supplement working capital [1] Financial Situation - As of September 2025, the company's consolidated debt-to-asset ratio is 59.24%, indicating significant leverage [1] - The current ratio stands at 1.06, suggesting short-term liquidity pressure [1] - Total liabilities increased from 2.137 billion yuan to 2.631 billion yuan between the end of 2023 and September 2025, with a high proportion of short-term borrowings [1] Profitability - For the first three quarters of 2025, the net profit attributable to the parent company is 19.57 million yuan, with a non-recurring profit of 11.99 million yuan [1] - The retained earnings from 2022 to 2024 are negative, and the company has not issued cash dividends or converted reserves into share capital during this period [1]