报告期内，公司战略级业务精细化工板块迎来关键突破。其全资子公司惠州市红墙化学有限公司"年产 32万吨环氧乙烷及环氧丙烷衍生物项目"于6月份全面投产，涵盖年产15万吨聚醚单体、7万吨非离子表 面活性剂、4万吨羟基酯及2万吨聚醚多元醇生产线。报告期内，该板块已实现营收2909万元，占总营收 9.03%。 本报讯 （记者刘晓一）8月27日，广东红墙新材料股份有限公司（以下简称"红墙股份"）发布2025年半 年度报告。报告期内，公司在行业调整期稳健经营，营业收入达3.22亿元，同比增长6.93%，核心业务 与新业务协同推进，为长期发展奠定坚实基础。 在核心的混凝土外加剂业务领域，公司展现出强劲的市场竞争力。报告期内，尽管行业进入存量竞争阶 段，公司聚羧酸系外加剂仍实现营收2.83亿元，占总营收比重87.80%，成为营收压舱石。 在核心竞争力方面，公司产业链整合优势进一步凸显。红墙化学地处大亚湾石化园区，可通过隔墙输送 获取EO/PO原料，成本优势明显；技术研发上，公司及控股子公司累计拥有127件专利（含82项发明专 利），并设有"广东省混凝土外加剂工程技术研究开发中心"，为产品迭代提供支撑。未来随着精细化工 产能逐步 ...

资料显示，广东红墙新材料股份有限公司(002809.SZ,以下简称"红墙股份")是中国第一家以混凝土外加 剂为单一主营业务上市的公司。1995年创立,总部坐落在广东省惠州博罗县石湾镇科技产业园区,毗邻广 州增城、东莞城区,处在粤港澳大湾区经济圈中心地带。作为一家持续精进的民营外加剂上市公司,红墙 股份以广东为大本营,在珠三角、长三角、京津冀、华中及西南西北地区共设有二十多个生产基地。综 合实力已连续多年排名全国前列。 根据最新一期财务数据，2025年1月-6月，红墙股份实现营业收入3.222亿元，同比增加6.93%；归属净 利润722.12万元，同比下跌74.07%；扣非净利润-277.81万元，同比下跌111.66%。 截至2025年6月，红墙股份筹码集中度较分散。十大股东持股合计占比54.7%，十大流通股东持股合计 占比31.51%。股东人数3.524万户，人均流通股3947股，人均持股金额5.16万元。 8月27日，红墙转债盘中下跌2.09%报141.28元/张，成交额4632.67万元，转股溢价率20.15%。 资料显示，红墙转债信用级别为"A+"，债券期限6年（本次发行的可转债票面利率第一年0.30 ...

智通财经APP讯，红墙股份(002809.SZ)发布2025年半年度报告，报告期内，公司实现营业收入3.22亿 元，同比增长6.93%。实现归属于上市公司股东的净利润722.12万元，同比下降74.07%。归属于上市公 司股东的扣除非经常性损益净亏损277.81万元。基本每股收益0.03元。 ...

每经AI快讯，红墙股份（SZ 002809，收盘价：12.44元）8月26日晚间发布公告称，公司第五届第二十 二次董事会会议于2025年8月26日以现场结合通讯方式召开。会议审议了《2025年半年度报告全文及摘 要》等文件。 2024年1至12月份，红墙股份的营业收入构成为：混凝土外加剂占比99.69%，其他业务占比0.27%，涂 料占比0.05%。 截至发稿，红墙股份市值为26亿元。 每经头条（nbdtoutiao）——能给主人"打电话"的宠物智能手机也来了！宠物产业3000亿元市场大爆 发，行业上市公司"涨"声一片 （记者 胡玲） ...

Group 1 - The core point of the news is the performance and characteristics of Hongqiang Convertible Bonds, which experienced a decline of 2.04% to 140.7 CNY per share, with a trading volume of 1.25 billion CNY and a conversion premium rate of 14.11% [1] - Hongqiang Convertible Bonds have a credit rating of "A+" and a maturity period of 6 years, with a coupon rate that increases from 0.30% in the first year to 3.00% in the sixth year [1] - The conversion price for the bonds is set at 10.44 CNY, with the conversion period starting on April 24, 2024 [1] Group 2 - Guangdong Hongqiang New Materials Co., Ltd. is the first company in China to be listed with concrete additives as its sole main business, founded in 1995 and headquartered in Huizhou, Guangdong [2] - The company has over 20 production bases across various regions in China, including the Pearl River Delta and Yangtze River Delta, and has ranked among the top in comprehensive strength for several consecutive years [2] - For the first quarter of 2025, Hongqiang achieved a revenue of 1.299 billion CNY, a year-on-year increase of 4.1%, while the net profit attributable to shareholders dropped by 80.56% to 2.5369 million CNY [2] - As of March 2025, the concentration of shareholding is relatively high, with the top ten shareholders holding a combined 56.27% and the top ten circulating shareholders holding 33.56% [2]

Group 1 - The core viewpoint of the news is the performance and characteristics of Hongqiang Convertible Bonds, which have seen a price increase and specific financial metrics related to their issuance [1] - Hongqiang Convertible Bonds rose by 3.22% to 139.25 yuan per share, with a trading volume of 87.64 million yuan and a conversion premium rate of 12.61% [1] - The credit rating of Hongqiang Convertible Bonds is "A+", with a maturity of 6 years and a tiered coupon rate starting from 0.30% in the first year to 3.00% in the sixth year [1] Group 2 - Guangdong Hongqiang New Materials Co., Ltd. is the first company in China to be listed with concrete additives as its sole main business, founded in 1995 and headquartered in Huizhou, Guangdong [2] - The company has over 20 production bases across various regions in China, including the Pearl River Delta and Yangtze River Delta, and has ranked among the top in comprehensive strength for several consecutive years [2] - For the first quarter of 2025, Hongqiang achieved a revenue of 12.99 million yuan, a year-on-year increase of 4.1%, while net profit dropped by 80.56% to 2.54 million yuan [2] - As of March 2025, the concentration of shareholding in Hongqiang is relatively high, with the top ten shareholders holding a combined 56.27% and the top ten circulating shareholders holding 33.56% [2]

Core Viewpoint - The report outlines the management and status of the convertible bonds issued by Jiangsu Sobute New Materials Co., Ltd., detailing the bond's terms, financial performance, and the company's operational status in 2024. Section 1: Debt Situation - The company has issued a total of 800,000 convertible bonds with a total value of RMB 80 million, approved by the board and shareholders [3][4]. - The bonds are set to mature in six years, from July 1, 2022, to June 30, 2028, with an annual interest rate that increases from 0.30% in the first year to 3.00% in the sixth year [4][5]. Section 2: Financial Performance - In 2024, the company reported a revenue of RMB 355.54 million, a slight decrease of 0.75% compared to 2023 [15]. - The net profit attributable to shareholders decreased by 40.24% to RMB 9.59 million [15]. - The net cash flow from operating activities increased by 56.97% to RMB 58.07 million [15]. Section 3: Fund Utilization - The company raised RMB 79.1 million after deducting underwriting fees, with the funds allocated to specific projects and managed in a dedicated account [4][15]. - As of December 31, 2024, the company had utilized RMB 63.38 million of the raised funds, with a remaining balance of RMB 15.96 million [15][16]. - The company has not changed the use of raised funds or used idle funds for temporary liquidity [16]. Section 4: Company Overview - Jiangsu Sobute New Materials Co., Ltd. is a leading supplier of new civil engineering materials in China, specializing in high-performance concrete additives [14]. - The company has received multiple accolades, including being recognized as a national high-tech enterprise and a champion product by the Ministry of Industry and Information Technology [14].

Core Viewpoint - The concrete admixture market in China is experiencing a downturn due to the ongoing adjustments in the real estate sector, leading to a projected market size decrease to 49.45 billion yuan in 2024, a year-on-year decline of 9.04% [1][10]. Industry Overview - The concrete admixture is defined as materials added to concrete to improve its performance, excluding cement, aggregates, water, and fibers [2]. - The industry is significantly influenced by macroeconomic factors such as economic growth and investment scale, with infrastructure investments providing some growth opportunities despite overall economic pressures [4]. Market Demand - The primary demand for concrete admixtures comes from infrastructure construction and the real estate market, with fixed asset investment in China projected at 51.437 trillion yuan in 2024, a growth of 3.2%, while real estate development investment is expected to decrease by 10.6% [8]. - The concrete production volume is anticipated to drop to 2.101 billion cubic meters in 2024, reflecting a year-on-year decrease of 12.34% [8]. Competitive Landscape - The concrete admixture industry is facing intense competition, with many companies struggling due to a prolonged downturn in demand, particularly from the real estate sector transitioning from new construction to existing property management [13]. - Despite the challenges, several companies have distinguished themselves through superior technology and product quality, as evidenced by the top ten companies listed in the concrete admixture sector [13]. Key Companies - Jiangsu Subote New Materials Co., Ltd. reported a total revenue of 3.555 billion yuan in 2024, with 2.583 billion yuan from admixture business, accounting for 72.66% of total revenue [15]. - Leizhi Holding Group Co., Ltd. achieved a revenue of 2.617 billion yuan in 2024, with 1.955 billion yuan from admixture materials, representing 74.70% of total revenue [17]. Development Trends - The demand for high-performance admixtures is expected to grow, including multifunctional admixtures that can reduce costs and improve construction efficiency [19]. - There is a rising trend towards environmentally friendly admixtures, with companies encouraged to develop and apply bio-based and low-VOC products to meet market demands for green building materials [19].

Core Viewpoint - The successful completion of the 20th main pier foundation of the YZ Railway Fu Chimen dual-use bridge marks a significant milestone in the construction of the bridge, which is the world's largest span of a high-low tower dual-use cable-stayed bridge [1][2]. Group 1: Project Challenges - The Fu Chimen dual-use bridge spans approximately 1725.85 meters with a main span of 388 meters, facing severe challenges due to a maximum water depth of 55 meters and complex marine environmental conditions such as strong winds, high waves, and turbulent water flows [2]. - The 20th main pier is a critical control project with a large foundation structure, complicated construction conditions, and high technical difficulty, which imposes strict requirements on concrete performance [2]. Group 2: New Material Solutions - The company leveraged its R&D advantages in concrete additives to create a tailored comprehensive solution, ensuring successful concrete pouring [3]. - Key features of the solution include precise temperature control to prevent cracking, extended plasticity to ensure smooth continuous pouring over 70 hours, and full-process technical services to dynamically optimize application parameters on-site [3]. Group 3: Recognition and Impact - The company's product performance, innovative technical solutions, and meticulous on-site service have earned high recognition from all parties involved in the project [4]. - The company's additives have also been successfully applied in several world-class projects, contributing significantly to the construction of major engineering projects, including the Hangzhou Bay Cross-Sea Railway Bridge and the Ningbo-Zhoushan integration development [4].

Core Viewpoint - Jiangsu Subote New Materials Co., Ltd. maintains a stable credit rating of AA- with a stable outlook, reflecting its strong industry position and diversified production base, despite facing challenges such as declining sales performance and increased accounts receivable [3][8]. Company Overview - Jiangsu Subote is a leading company in the concrete admixture industry, with a continuous increase in production capacity and a stable product structure [8][9]. - The company has a strong research and development capability, holding 1,038 national patents and 40 international invention patents, contributing to its competitive product performance [13]. Financial Performance - Total assets increased from 77.51 billion yuan in 2022 to 83.00 billion yuan in 2025, while total liabilities rose from 31.57 billion yuan to 34.68 billion yuan during the same period [5][14]. - The company's net profit has shown a downward trend, with significant impacts from sales price declines and increased accounts receivable, which requires close monitoring [14]. Market Conditions - The concrete admixture industry is experiencing low demand from downstream sectors such as real estate and construction, leading to lower capacity utilization rates [9][10]. - The company is expanding into infrastructure projects, which has resulted in increased sales of high-performance water-reducing agents, although other product lines have seen declines [9][10]. Risk Factors - The company faces risks related to high accounts receivable, which occupied a significant portion of its funds, necessitating improved management of working capital [14]. - The competitive landscape in the industry is intensifying, with pricing pressures affecting profit margins [9][10]. Future Outlook - The company aims to enhance its market position through product innovation and expansion into new markets, while also focusing on improving its accounts receivable management [8][9].