南华期货股份有限公司 关于全资子公司减资的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 证券代码：603093 证券简称：南华期货 公告编号：2025-054 注册地址：浙江省杭州市上城区横店大厦 601 室 法定代表人：贾晓龙 ? 减资标的名称：南华期货股份有限公司（以下简称"公司"）的全资子 公司浙江南华资本管理有限公司（以下简称"南华资本"） ? 减资金额：人民币 10,000 万元。本次减资事项完成后，南华资本注册 资本由 70,000 万元减少至 60,000 万元，公司持有南华资本股权比例仍 为 ? 本次减资事项不构成关联交易，亦不构成《上市公司重大资产重组管理 办法》规定的重大资产重组。本次减资不会导致公司合并报表范围发生变化。 一、本次减资概况 南华资本系公司全资子公司，为了进一步优化资本结构和资源配置，拟将南 华资本注册资本由 70,000 万元减少至 60,000 万元。本次减资完成后，南华资 本股权结构不变。 按照《公司章程》等的有关规定，本次金额未达到需提交公司董事会、股东 会审 ...

Financial Data and Key Metrics Changes - Revenue for the second quarter was $2,530 million, up 5% on a reported basis and 4% on an organic basis compared to the same period a year ago [20] - Adjusted EBITDA was $871 million, an increase of $45 million or 5% year over year [21] - Adjusted operating cash flow was $442 million, reflecting strong operational cash flow generation [21] Business Line Data and Key Metrics Changes - Salix revenues were $627 million, an increase of 12% compared to the same period last year, driven by favorable net pricing and strong volume performance [23] - Solta revenues were $128 million, an increase of 25% on a reported basis and 26% on an organic basis compared to the same period last year, primarily fueled by South Korea [26] - Diversified segment revenues were $219 million, a decrease of 13% compared to the same period a year ago, impacted by one-time pricing adjustments in 2024 [28] Market Data and Key Metrics Changes - EMEA achieved 6% organic growth in the second quarter, marking the region's tenth consecutive quarter of organic growth [11] - Canada experienced 12% growth driven by the promoted products portfolio [24] - LATAM's performance was softer due to ongoing macroeconomic challenges and partial channel destocking [25] Company Strategy and Development Direction - The company is focused on unlocking value, growth, and optimizing capital structure, with a commitment to R&D and business development [6][31] - A strategic partnership was announced with YunnV to launch probiotic-based products for acne-prone skin in Poland [13] - The company is evaluating opportunities to reduce the net cost of capital of its debt over the next couple of months [32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to execute strategic priorities and deliver value for stakeholders [20][68] - The company reaffirmed its full-year 2025 guidance for revenue and adjusted EBITDA, expecting revenue between $4,950 million and $5,100 million [30] - Management acknowledged the uncertain macro environment but highlighted strong operational performance and growth opportunities [5][19] Other Important Information - The company completed a $7,900 million debt refinancing, extending maturities and improving capital structure [7] - The acquisition of Direct Corporation is expected to advance the development of a treatment for alcohol hepatitis, pending certain conditions [17][18] Q&A Session Summary Question: Share buybacks and DTC efforts with XIFAXAN - Management indicated that share buybacks are still under evaluation but have taken a back seat to reinvestment in the business [39] - The focus for DTC investments is currently on the OHE indication, with significant growth in patient starts [41] Question: Rifaximin franchise and SSD trials - Management confirmed that lactulose background therapy is allowed in the SSD trials and emphasized the opportunity for expansion in the patient population [46][48] Question: XIFAXAN potential ROA headwinds in 2027 - Management acknowledged ongoing negotiations regarding XIFAXAN and the potential for significant price cuts, while emphasizing efforts to minimize impact [51][63] Question: Direct Corporation acquisition details - Management expressed confidence in the Direct acquisition, highlighting the potential for addressing unmet medical needs in hepatology [55] Question: Rifaximin SSD differentiation and off-label use - Management stated that the SSD formulation is different and does not plan to run head-to-head trials at this time [60]

Core Viewpoint - B. Riley Financial, Inc. has entered into a privately negotiated exchange agreement that will reduce its total outstanding debt by approximately $18 million [1][2]. Debt Exchange Details - The agreement involves the exchange of approximately $43 million in outstanding Senior Notes for $25 million in newly issued 8.00% Senior Secured Second Lien Notes due January 1, 2028 [2]. - The outstanding Senior Notes include $2 million in September 2026 notes, $20 million in December 2026 notes, $5 million in January 2028 notes, and $16 million in August 2028 notes [2]. - The company is also issuing warrants to purchase approximately 98,000 common shares at an exercise price of $10.00 per share, exercisable for seven years from the issuance date [2]. Impact on Debt Structure - After the exchange, the total balance of the Notes will be $229 million, with $21 million of capacity remaining [3]. - This marks the fifth bond exchange negotiated by the company in four months, resulting in a total debt reduction of approximately $126 million [3]. - The company aims to further improve its balance sheet by utilizing the remaining capacity under its Senior Secured Second Lien facility [3]. Company Overview - B. Riley Financial is a diversified financial services company that provides tailored solutions across various financial sectors, including investment banking, institutional brokerage, and corporate restructuring [5]. - The company leverages cross-platform expertise to deliver collaborative solutions at every stage of the business life cycle [5].

BROOMFIELD, Colo., June 23, 2025 (GLOBE NEWSWIRE) -- DMC Global Inc. (Nasdaq: BOOM) today announced that James O'Leary has agreed to serve as permanent president and CEO, in addition to his role as executive chairman. Mr. O'Leary has served as DMC's interim president and chief executive officer since November 29, 2024. "I'm excited to continue working with the many loyal, hardworking DMC associates around the world on behalf of our stakeholders," Mr. O'Leary said. "When I took over in November of last year, ...

Core Viewpoint - AirSculpt Technologies, Inc. has successfully completed a common stock offering, generating net proceeds of approximately $13.8 million, which will be used to prepay $10 million of its outstanding term loan debt, enhancing its capital structure and financial flexibility [1][2]. Financial Performance - The company has prepaid $10 million of its outstanding debt, improving its capital structure [1][2]. - After the stock offering, AirSculpt has 62,436,670 shares of common stock outstanding [2]. - The company retains full availability of $5 million under its revolving credit facility after making a remaining payment of $2.9 million on June 16, 2025 [2]. Strategic Initiatives - The prepayment of debt is part of the company's strategy to advance its transformation and position itself for sustained long-term growth in revenue and profitability [2]. - The company does not anticipate the need for additional material capital raises this year, assuming no significant changes in the macroeconomic environment [1]. Product Offering - AirSculpt provides a next-generation body contouring treatment that is minimally invasive, designed to optimize comfort and precision, allowing for quick healing with minimal bruising and precise results [3].

Core Insights - Aalberts has successfully signed and closed Note Purchase Agreements for its inaugural debt issuance in the US Private Placement market, securing approximately USD 600 million [1][2] - The issuance includes approximately USD 500 million and EUR 100 million in Senior Notes, with maturities ranging from 5 to 12 years [1][2] - The capital raised will support Aalberts' 'Thrive 2030' strategy, focusing on disciplined growth and strategic acquisitions in key markets [3][4] Group 1 - The transaction marks a significant milestone in optimizing Aalberts' capital structure, reflecting a strong credit profile and resilient business model [2] - The proceeds will be used to refinance outstanding debt, enhancing the long-term funding profile and maintaining flexibility under bank facilities [3] - The CFO stated that this debut in the USPP market confirms the company's robust financial position and provides long-term capital at attractive terms [4]

Financial Data and Key Metrics Changes - The company reported adjusted EBITDA of $5.3 million for the first quarter of 2025, with a gross margin of 23% [12][13] - Adjusted net loss for the quarter was $14.9 million, which was essentially flat compared to the first quarter of 2024 [12][13] - Selling, general, and administrative expenses decreased by approximately $2 million year-over-year [7] Business Line Data and Key Metrics Changes - Revenue from the Inspection and Heat Treating segment increased by 6.8% year-over-year, with core operations growing by 8.8% [6] - The Mechanical Service segment experienced lower callout revenue and project delays, impacting overall revenue growth [6] - Overall revenues were flat year-over-year, attributed to seasonal factors and adverse weather conditions in January [6] Market Data and Key Metrics Changes - The company reported nearly 15% revenue growth from midstream end markets during the quarter [5] - Strong activity levels were noted at the start of the second quarter, with expectations for top-line growth across both segments [9] Company Strategy and Development Direction - The company is focused on simplifying its business, expanding margins, and improving its capital structure [4] - A series of actions targeting cost improvements and operational efficiency are expected to yield annualized cost savings of around $10 million [8][13] - The company aims for at least 15% year-over-year growth in adjusted EBITDA and to achieve a target margin of at least 10% [15] Management's Comments on Operating Environment and Future Outlook - Management remains confident in the company's ability to navigate macroeconomic uncertainties, including tariff policies [9] - The company expects to see improvements in Canadian operations and overall revenue growth for the full year 2025 [15][16] - Continuous improvement in margin, cost discipline, and cash flow generation are key focuses for the future [16] Other Important Information - The company completed a refinancing transaction in March 2025, lowering its blended interest rate by over 100 basis points and extending term loan maturities to 2030 [11] - The refinancing provided financial flexibility and addressed near-term maturities [11] Q&A Session Summary - No specific questions or answers were documented in the provided content.

Financial Data and Key Metrics Changes - The company generated $244.7 million of adjusted EBITDA in Q1 2025, down slightly compared to the same quarter last year despite a 20.5% decline in revenue [11][12] - Total adjusted SG&A expenses were $57.5 million, representing 85.6% of gross profit, down from $72.6 million or 87.9% of gross profit in the same quarter last year [12] - Cash outflows from operating activities were $6.9 million for Q1 2025, compared to cash inflows of $17 million for the same period in 2024 [17] Business Line Data and Key Metrics Changes - The Powersports Group sold 13,186 total major units, down 20.5% year over year, with new unit sales down 23.7% and pre-owned unit sales down 13.9% [13] - Gross margins for new units improved to 13.5% from 12.5% year over year, while pre-owned gross margins were 16.3%, down from 19.5% [13] - Revenue from the powersports dealership group was $239.2 million, down 18.5% year over year, primarily due to lower major unit volume [16] Market Data and Key Metrics Changes - The asset light vehicle transportation services segment, Wholesale Express, saw revenue decline by 61.5% year over year, with gross profit decreasing 68.6% to $1.1 million [16] - The overall decline in unit sales during the quarter impacted revenue and gross profit across various segments [14][15] Company Strategy and Development Direction - The company is focused on improving operational discipline and customer service amidst a challenging macroeconomic environment [10] - New key management additions aim to strengthen market position and drive long-term growth [8] - The company is actively evaluating opportunities to optimize capital structure and lower cost of capital [18] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing challenges due to tariffs and a difficult consumer backdrop but expressed confidence in the company's strategic initiatives [9][10] - The company expects 2025 results from the Wholesale Express segment to decline significantly from 2024 but believes it is better positioned for sustainable long-term growth [11] Other Important Information - The company ended the quarter with $56.2 million in total cash and $188.2 million in non-vehicle net debt [17] - Total available liquidity was $171.4 million as of March 31, 2025 [17] Q&A Session Summary Question: How aggressive does the company want to be with the cash offer tool for pre-owned inventory? - The company can be aggressive with the cash offer tool, but it depends on the quality of the inventory available [20][21] Question: What are the expectations for year-end inventory levels? - The company expects inventory levels at year-end to be about where they ended in 2024, possibly slightly higher due to inflation [23][24] Question: What is the message from OEM partners regarding tariffs? - OEM partners are currently absorbing tariff costs, and there is hope that the situation will stabilize in the near future [27][28][30]

Core Insights - Healthy Choice Wellness Corp. has converted approximately $400,000 in outstanding debt into shares of its Class A common stock, further strengthening its balance sheet [1][2] - This transaction is part of a series of debt-for-equity exchanges totaling around $1.4 million over the past 60 days, executed at current market prices, indicating lender confidence in the company's growth [2][3] - The CEO emphasized that this conversion reflects strong support from lending partners and enhances the company's equity base while reducing liabilities, providing financial flexibility for strategic initiatives in the organic grocery sector [3][4] Company Overview - Healthy Choice Wellness Corp. operates through various subsidiaries, including Ada's Natural Market, Paradise Health & Nutrition, Mother Earth's Storehouse, Greens Natural Foods, Ellwood Thompson's, and GreenAcres Market, focusing on healthier nutrition and lifestyle alternatives [5][6] - The company also sells vitamins and supplements through its subsidiary, Healthy U Wholesale, and operates an online store [7]

Financial Data and Key Metrics Changes - Bread Financial reported net income of $138 million and earnings per diluted share of $2.78 for Q1 2025, reflecting a resilient business model despite macroeconomic challenges [6][7] - Revenue for the quarter was $970 million, down 2% year over year, primarily due to lower net interest income [17][18] - Average loans decreased by 2% to $18.2 billion, influenced by lower consumer spending and tighter underwriting standards [16][18] Business Line Data and Key Metrics Changes - Credit sales increased by 1% year over year to $6.1 billion, driven by higher general purpose spending [16][18] - Direct-to-consumer deposits grew by 13% year over year, reaching $7.9 billion, marking significant growth from just over $1 billion five years ago [8][23] - Non-interest income rose by $25 million, attributed to recent pricing changes for paper statements [19] Market Data and Key Metrics Changes - The delinquency rate for Q1 was 5.9%, down 30 basis points year over year, indicating improved credit performance [31] - The net loss rate was 8.2%, down 30 basis points from the previous year, reflecting better-than-expected credit results [31] - Direct-to-consumer deposits accounted for 43% of average total funding, up from 36% a year ago, while wholesale deposits decreased from 37% to 29% [23] Company Strategy and Development Direction - The company is focused on optimizing its capital structure and strengthening its balance sheet, evidenced by a $400 million subordinated notes offering [7][24] - Strategic credit tightening actions are being implemented to manage credit risk effectively while expanding partnerships and product offerings [11][12] - The company aims to maintain flexibility to adapt to changing fiscal and monetary policies and evolving regulatory landscapes [14][26] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns about economic weakness due to declining consumer and small business confidence, while also noting positive trends in credit management [9][10][31] - The outlook for 2025 includes expectations of flat to slightly down average loans, with total revenue anticipated to be flat to slightly up [35][36] - Management remains vigilant regarding credit policy and is closely monitoring potential impacts from higher tariff-driven inflation [39] Other Important Information - The company completed a $150 million share repurchase program, repurchasing 3.2 million shares at an average price approximately 5% below the current tangible book value per share [7][25] - Total liquid assets and undrawn credit facilities were $7.4 billion, representing 33% of total assets [27] Q&A Session Summary Question: Insights on consumer payment behavior and credit trends - Management noted that while credit quality is improving, there is significant uncertainty in the macroeconomic environment, influencing consumer behavior [42][43] Question: Unemployment rate assumptions and reserve guidance - The company has incorporated a 7% unemployment rate assumption into its reserve modeling, reflecting a conservative approach [57] Question: Discussion on late fee regulation and partner relationships - Management confirmed that discussions with partners have been positive, and changes made in response to late fee litigation are included in the guidance [58][62] Question: Factors behind improved late-stage roll rates - The improvement is attributed to wage growth outpacing inflation and better performance of newer vintages [66][68] Question: Impact of economic conditions on credit tightening actions - Management stated that while they are maintaining a consistent posture, uncertainty in the macro environment may delay credit unwind actions [86][88] Question: Capital management and buyback strategy - The company remains committed to responsible growth and will evaluate buyback strategies based on capital needs and market conditions [92][94] Question: Net interest margin trajectory - Management expects slight expansion in net interest margin despite headwinds from prime rate reductions and changing product mix [100][102]