登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002870 证券简称：香山股份 公告编号：2025-057 一、重要提示 本半年度报告摘要来自半年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规划，投 资者应当到证监会指定媒体仔细阅读半年度报告全文。 所有董事均已出席了审议本报告的董事会会议。 非标准审计意见提示 □适用(不适用 董事会审议的报告期利润分配预案或公积金转增股本预案 □适用(不适用 公司计划不派发现金红利，不送红股，不以公积金转增股本。 董事会决议通过的本报告期优先股利润分配预案 □适用(不适用 公司是否需追溯调整或重述以前年度会计数据 □是(否 ■ 持股5%以上股东、前10名股东及前10名无限售流通股股东参与转融通业务出借股份情况 □适用(不适用 前10名股东及前10名无限售流通股股东因转融通出借/归还原因导致较上期发生变化 □适用(不适用 4、控股股东或实际控制人变更情况 控股股东报告期内变更 ■ 3、公司股东数量及持股情况 单位：股 二、公司基本情况 1、公司简介 ■ 2、主要会计数据和财务指标 □适用(不适用 公司报告期控股股东未发生变更。 实际控制人报告期内变 ...

Core Viewpoint - *ST Hengli is facing delisting due to negative net profit and insufficient revenue, with its stock entering a delisting preparation period starting June 25, 2025 [1][2] Group 1: Company Announcements - *ST Hengli received a notice of administrative penalty and will enter a delisting preparation period due to a negative audited net profit for 2023 and revenue below 100 million yuan [1] - The company has been warned of delisting risk since May 6, 2024, and has failed to disclose a majority of its board's assurance of the 2024 annual report by the legal deadline [1] - The stock will be delisted after a 15-day preparation period, with the delisting effective on the next trading day after the period ends [1] Group 2: Financial Performance - The company has experienced a significant decline in revenue and profitability since 2018, with 2023 revenue reported at only 79.54 million yuan, leading to a delisting risk warning [2] - For the first three quarters of 2024, *ST Hengli's revenue was merely 70.06 million yuan, indicating ongoing financial struggles [2] - Following an asset acquisition, the company reported a surge in revenue exceeding 200 million yuan in Q4 2024, but projected a loss of 33 to 43 million yuan for the year [3] Group 3: Industry Context - The company has attempted to pivot into the lithium battery sector, partnering with Ganfeng Lithium for comprehensive cooperation in the new energy industry chain [2] - The lithium battery industry is experiencing increased competition and overcapacity, leading to many cross-industry entrants facing challenges and withdrawing from the market [3] - A significant number of cross-industry lithium battery ventures have failed since 2023, highlighting the importance of focusing on core business and niche markets for survival [3]

Core Viewpoint - The article discusses the challenges faced by *ST Hengli, including its impending delisting due to negative net profit and declining revenues, as well as the broader issues in the lithium battery industry where many companies are struggling to adapt and survive amidst increasing competition and market saturation [2][4][7]. Company Overview - *ST Hengli, listed on the Shenzhen Stock Exchange since 1996, primarily engages in automotive parts manufacturing and the processing of new energy battery materials [3]. - The company has faced multiple delisting threats throughout its history, being labeled as "ST" (special treatment) several times due to financial difficulties [3]. - In 2023, *ST Hengli reported a significant loss with revenues dropping to 79.54 million yuan, leading to a delisting risk warning [4]. Recent Developments - On June 18, 2024, *ST Hengli received a notice of administrative penalty and was informed of its stock entering a delisting preparation period due to failing to meet financial reporting requirements [2]. - The company attempted to mitigate its financial struggles by acquiring New Energy Co., Ltd. for 15 million yuan, aiming to enhance its revenue through this asset purchase [5]. Industry Context - The lithium battery industry is experiencing an adjustment period characterized by intensified competition and overcapacity, leading many cross-industry entrants to halt or terminate their investment projects [7]. - Since 2023, over 100 cross-industry lithium battery cases have been recorded, with many companies exiting the market, highlighting the difficulties of adapting to the industry's dynamics [8]. - The article emphasizes that companies should focus on their core business and adopt differentiated competition strategies to survive the cyclical adjustments in the industry [8].