Core Viewpoint - The company announced that its wholly-owned subsidiary, Xinjiang Guolin New Materials Co., Ltd., will suspend production for maintenance on the "25,000 tons/year high-quality crystal acetaldehyde project" starting from June 3, 2025, for approximately 60 days [1] Group 1 - The maintenance plan is expected to last around 60 days, with the specific resumption date dependent on the actual maintenance duration [1] - The company will fulfill its information disclosure obligations regarding the progress of this maintenance in accordance with relevant regulations [1] - Investors are advised to pay attention to investment risks associated with this production suspension [1]

Core Viewpoint - The demand for glycolic acid in China is steadily increasing, projected to rise from 98,000 tons in 2022 to 108,000 tons in 2024, driven by its applications in pharmaceuticals, fragrances, and food additives, as well as emerging sectors like lithium battery electrolytes and biodegradable plastics [1][12]. Industry Overview - Glycolic acid is an organic compound with the formula C2H2O3, characterized by its white crystalline form and various industrial applications [2]. - The market for glycolic acid is expanding due to rising living standards and increased demand in various sectors [1][12]. Production Methods - The primary production methods for glycolic acid include oxalic acid electrolysis, glyoxal nitric oxidation, and ozone oxidation of anhydride, with domestic producers predominantly using glyoxal nitric oxidation [3][4]. Industry Chain - The glycolic acid industry chain involves upstream sectors like petrochemicals and biomass energy, providing essential raw materials, while downstream applications span pharmaceuticals, pesticides, dyes, and food additives [8]. Market Competition - The Chinese glycolic acid market is characterized by a dominance of large enterprises, with significant players including Hubei Hongyuan Pharmaceutical and Qingdao Guolin Technology, while smaller firms focus on niche markets [16][17]. Industry Development Trends - Innovations in production processes, such as using biomass-derived acetyl acid, are expected to enhance efficiency and product quality [21]. - Increased international cooperation is anticipated, particularly under the Belt and Road Initiative, which may expand market share and enhance technological capabilities [22]. - The pharmaceutical sector's growth is likely to broaden the consumption of glycolic acid, solidifying its market position as a crucial raw material for various drugs [24].

证券代码：300786 证券简称：国林科技 青岛国林科技集团股份有限公司 投资者关系活动记录表 编号：2025-001 | 投资者关系活动 | 分析师会议 □ 特定对象调研 □ | | | | --- | --- | --- | --- | | 类别 | □ 媒体采访 ☑ 业绩说明会 | | | | | □ 新闻发布会 □ 路演活动 | | | | | □ 现场参观 | | | | | ☑其他（2025 年青岛辖区上市公司投资者网上集体接待日） | | | | 参与单位名称及 | 不特定投资者 | | | | 人员姓名 | | | | | 时间 | 年 月 （周一） 下午 2025 5 12 15:00~17:00 | 日 | | | 地点 | "全景路演"网站（http://rs.p5w.net） | | | | | 1、董事长兼总经理：丁香鹏 | | | | 上市公司接待人 | | | 2、董事会秘书兼副总经理：胡文佳 | | 员姓名 | 3、财务总监：刘彦璐 | | | | | 4、独立董事：赵永瑞 本次投资者关系活动采用网络远程的方式进行，投资者提出 | | | | | 的问题及公司回复情况如下： 1 ...

Core Insights - The company reported a significant decline in net profit despite an increase in operating revenue, with net profit attributable to shareholders dropping by 71.46% and net profit excluding non-recurring gains and losses decreasing by 86.87% [1] Financial Performance Summary - Operating revenue for 2024 reached 493,037,354.27 yuan, a 23.33% increase from 399,770,522.35 yuan in 2023. The ozone equipment manufacturing segment generated revenue of 217,392,925.86 yuan, accounting for 44.09% of total revenue but decreased by 13.93%. In contrast, the chemical products manufacturing segment saw revenue of 203,391,883.87 yuan, representing 41.25% of total revenue and a substantial growth of 150.80% [2] - The net profit attributable to shareholders was -49,958,871.81 yuan, worsening from -29,137,344.28 yuan in the previous year. The net profit excluding non-recurring gains and losses was -54,835,102.70 yuan, compared to -29,344,122.29 yuan last year, indicating a more pronounced decline. The company attributed this drop to economic downturns, slower commissioning of ozone equipment, increased bad debt provisions, and rising expenses from early-stage R&D projects [3] - Basic earnings per share fell to -0.27 yuan, down 68.75% from -0.16 yuan per share in the previous year. The diluted earnings per share, excluding non-recurring gains and losses, also decreased significantly to -0.30 yuan [4] Expense Analysis - Overall expenses increased in 2024, with sales expenses rising by 13.82% to 40,012,843.77 yuan, management expenses increasing by 9.12% to 45,878,085.31 yuan, and financial expenses surging by 83.68% to 6,024,717.06 yuan. R&D expenses slightly decreased by 1.93% to 20,297,388.90 yuan [5] - The increase in sales expenses was driven by higher employee compensation and travel expenses, indicating greater investment in market expansion. Management expenses rose due to increased personnel and intermediary fees, reflecting higher operational costs. Financial expenses grew due to increased interest payments and reduced interest income [5] R&D and Innovation - R&D investment totaled 20,297,388.90 yuan, representing 4.12% of operating revenue. The number of R&D personnel increased from 88 to 104, with a higher proportion holding bachelor's degrees or above, indicating a focus on enhancing R&D talent [6] - Several R&D projects made progress, including the development of a 50kg/h IGBT ozone generator and a pilot experimental device for wastewater treatment, which, if successful, could enhance the company's technological competitiveness [7] Cash Flow Analysis - The net cash flow from operating activities significantly declined to -30,226,129.85 yuan, a 78.99% decrease from -16,887,066.58 yuan in the previous year, primarily due to increased inventory and accounts receivable [9] - Cash inflow from investing activities totaled 28,623,973.24 yuan, down 51.32%, while cash outflow was 55,227,598.78 yuan, a decrease of 58.67%. The net cash flow from investing activities was -26,603,625.54 yuan, an increase of 64.44% [10] - Cash inflow from financing activities reached 116,000,000.00 yuan, up 89.03%, due to new bank loans, while cash outflow was 128,166,675.91 yuan, an increase of 178.52%, driven by loan repayments and stock buybacks. The net cash flow from financing activities was -12,166,675.91 yuan, a decline of 179.27% [11]

股票简称：宏源药业 股票代码：301246 湖北省宏源药业科技股份有限公司 Hubei Hongyuan Pharmaceutical Technology Co., Ltd. （湖北省罗田县凤山镇经济开发区宏源路8号） 首次公开发行股票并在创业板上市 之 上市公告书 保荐人（主承销商） （中国（上海）自由贸易试验区浦明路 8 号） 二零二三年三月 特别提示 湖北省宏源药业科技股份有限公司（以下简称"宏源药业"、"本公司"或 "发行人"、"公司"）股票将于 2023 年 3 月 20 日在深圳证券交易所创业板上 市，该市场具有较高的投资风险。创业板公司具有业绩不稳定、经营风险高、退 市风险大等特点，投资者面临较大的市场风险。投资者应充分了解创业板市场的 投资风险及本公司所披露的风险因素，审慎做出投资决定。 本公司提醒投资者应充分了解股票市场风险以及本公司披露的风险因素，在 新股上市初期切忌盲目跟风"炒新"，应当审慎决策、理性投资。 如无特别说明，本上市公告书中的简称或名词的释义与本公司首次公开发行 股票并在创业板上市招股说明书中的相同。 1 | 特别提示 1 | | --- | | 目 录 2 | | 第一节 ...

本次股票发行后拟在创业板市场上市，该市场具有较高的投资风险。创业板公司具 有创新投入大、新旧产业融合成功与否存在不确定性、尚处于成长期、经营风险高、业 绩不稳定、退市风险高等特点，投资者面临较大的市场风险。投资者应充分了解创业板 市场的投资风险及本公司所披露的风险因素，审慎作出投资决定。 湖北省宏源药业科技股份有限公司 Hubei Hongyuan Pharmaceutical Technology Co., Ltd. （湖北省罗田县凤山镇经济开发区宏源路 8 号） 首次公开发行股票并在创业板上市 招股说明书 保荐人（主承销商） （中国（上海）自由贸易试验区浦明路 8 号） 湖北省宏源药业科技股份有限公司 招股说明书 | 发行股票类型： | 人民币普通股（A 股） | | | | | --- | --- | --- | --- | --- | | 发行股数： | 本次股票的发行总量为 股本的比例为 | | | 4,725.72 万股，占公司发行后总 11.81%；本次发行公司原股东不公开发售 | | | 股份 | | | | | 每股面值： | 人民币 元 | | 1.00 | | | 每股发行价格： | 人 ...

湖北省宏源药业科技股份有限公司 首次公开发行股票并在创业板上市发行公告 保荐人（主承销商）： 特别提示 湖北省宏源药业科技股份有限公司（以下简称"宏源药业"、"发行人"或"公司"） 根据中国证券监督管理委员会（以下简称"中国证监会"）《证券发行与承销管理办 法》（证监会令[第 208 号]）（以下简称"《管理办法》"）、《首次公开发行股票注 册管理办法》（证监会令[第 205 号]）、深圳证券交易所（以下简称"深交所"）《深 圳证券交易所首次公开发行证券发行与承销业务实施细则》（深证上[2023]100 号） （以下简称"《实施细则》"）、《深圳市场首次公开发行股票网上发行实施细则》 （深证上〔2018〕279 号）（以下简称"《网上发行实施细则》"）、《深圳市场首次 公开发行股票网下发行实施细则（2023 年修订）》（深证上〔2023〕110 号）（以 下简称"《网下发行实施细则》"）、《深圳证券交易所创业板投资者适当性管理实 施办法（2020 年修订》（以下简称"《投资者适当性管理办法》"）和中国证券业 协会（以下简称"证券业协会"）《首次公开发行证券承销业务规则》（中证协发〔2023〕 18 号）、《首 ...

本次股票发行后拟在创业板市场上市，该市场具有较高的投资风险。创业板公司具 有创新投入大、新旧产业融合成功与否存在不确定性、尚处于成长期、经营风险高、业 绩不稳定、退市风险高等特点，投资者面临较大的市场风险。投资者应充分了解创业板 市场的投资风险及本公司所披露的风险因素，审慎作出投资决定。 湖北省宏源药业科技股份有限公司 Hubei Hongyuan Pharmaceutical Technology Co., Ltd. （湖北省罗田县凤山镇经济开发区宏源路 8 号） 首次公开发行股票并在创业板上市 招股意向书 保荐人（主承销商） 湖北省宏源药业科技股份有限公司 招股意向书 发行人声明 （中国（上海）自由贸易试验区浦明路 8 号） 湖北省宏源药业科技股份有限公司 招股意向书 | 发行股票类型： | 人民币普通股（A 股） | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 发行股数： | 本次股票的发行总量为 股本的比例为 | | | | | 4,725.72 万股，占公司发行后总 11.81%；本次发行公司原股东不公开发售 | | | 股份 | ...