Core Viewpoint - Tongde Chemical is facing significant legal and financial challenges due to multiple lawsuits related to financing lease agreements, with total overdue debts exceeding 83 million yuan, which is impacting its operational performance and financial stability [1][4]. Legal Issues - Tongde Chemical and its wholly-owned subsidiary, Tongde Kecai Materials Co., Ltd., are defendants in a lawsuit filed by Qingdao Huayuan Financing Leasing Co., Ltd. over a financing lease contract dispute involving an amount exceeding 85 million yuan [2]. - The lawsuit stems from a contract signed on January 16, where Tongde Kecai began defaulting on payments from the first due date on April 26 [2]. - The court has frozen 87 million yuan of assets from the defendants prior to the trial scheduled for November 10 [2]. Financial Performance - In the first half of 2023, Tongde Chemical reported a revenue of 256 million yuan, a year-on-year decline of 19.32%, and a net profit of 11 million yuan, down 75.76% from the previous year [4]. - The company's overdue debts have rapidly increased, with overdue principal reaching 81.8 million yuan and overdue interest at 1.39 million yuan as of September 15, totaling 83.2 million yuan [4]. - The overdue principal represents 4.10% of the company's audited net assets for 2024 [4]. Debt Management Efforts - The company is working with local government and financial institutions to form a creditors' committee to negotiate debt management strategies, including maintaining credit lines, increasing loan amounts, lowering interest rates, and postponing repayments [5]. - Tongde Chemical is involved in the production and sale of civil explosives and is undergoing a transformation to focus on new energy and new materials sectors [5].

笔者认为，面对如此困境，同德化工需要采取切实有效的措施来应对当前的挑战。公司应加强财务管 理，提高财务预测的准确性和透明度，特别是在关键财务事项的处理上，应更加谨慎和规范。同时，公 司需进一步完善信息披露制度，确保信息的及时、准确和完整，避免因信息不对称引发市场恐慌。此 外，公司还应强化内部控制机制，加强对财务和业务流程的监督和管理，优化应收账款和预付账款的管 理，降低回收风险。 总之，同德化工业绩预告"变脸"事件，暴露出公司在财务管理、信息披露和内部控制等方面存在的诸多 问题。公司需正视这些问题，采取有效措施加以改进，以恢复投资者的信任和市场的认可。未来，公司 还需在提升盈利能力和风险管理水平上下功夫，以实现可持续发展。 每经评论员杜宇 4月3日晚间，同德化工（002360）(SZ002360，前收盘价：5.11元，市值20.53亿元)的一纸公告，让市场 再次聚焦到这家民用炸药企业的身上。公司此前预计2024年实现归母净利润3000万元~4200万元。然而 修正后的业绩预告却显示归母净利润为负值，亏损额高达4000万元至7500万元。这一"变脸"行为，不仅 让投资者措手不及，更引发了市场对公司治理能力、财务 ...