每经记者｜王佳飞 每经编辑｜董兴生 9月16日晚间，同德化工（002360.SZ，股价5.27元，市值21.17亿元）公告显示，因一起涉案金额超8500 万元的融资租赁合同纠纷，公司及全资子公司成为被告。 就在此前的9月10日，同德化工刚刚披露了一起融资租赁合同纠纷诉讼，涉及金额超5500万元。 根据公司近期公告，截至9月15日，公司及子公司的逾期债务本息合计已超过8300万元。 同德化工再涉诉 该案源于各方1月16日签订的一份《融资租赁合同》。 一系列诉讼背后，是同德化工经营业绩与债务状况的双重压力。半年报显示，公司今年上半年实现营业 收入2.56亿元，同比下降19.32%；归属于上市公司股东的净利润为1109.19万元，与上年同期的4575.23 万元相比，下滑75.76%。 业绩大幅下滑的同时，公司的债务逾期问题也日益突出。据公司9月15日发布的最新债务逾期进展公 告，截至当日，公司及子公司同德科创等在融资租赁公司等金融机构的逾期债务本金已高达8181.34万 元，逾期未付利息为139.46万元，本息合计8320.79万元。逾期债务本金占公司2024年经审计净资产的 4.10%。 梳理公司历史公告可以发 ...

Core Viewpoint - The report highlights the financial performance and operational challenges faced by Shanxi Tond Chemical Co., Ltd. during the first half of 2025, including a significant decline in revenue and net profit, while also outlining the company's strategic initiatives in biodegradable plastics and energy projects. Financial Performance - The company's operating revenue for the reporting period was approximately 255.64 million yuan, a decrease of 19.32% compared to the previous year [5][19]. - The net profit attributable to shareholders was approximately 5.01 million yuan, reflecting a substantial decline of 87.45% year-on-year [5][19]. - The total assets at the end of the reporting period were approximately 4.62 billion yuan, down 1.72% from the previous year [6]. Business Overview - The primary business of the company includes the research, production, and sales of civil explosives, with key products such as emulsified ammonium oil explosives and on-site mixed explosives [7][10]. - The company is recognized as a leading enterprise in the domestic civil explosive industry, with a comprehensive industrial chain [10][15]. Strategic Initiatives - The company is actively pursuing transformation and upgrading by entering the "new energy and new materials" sectors, particularly through the establishment of a new production line for biodegradable plastics (PBAT) and its raw material BDO [7][10]. - The PBAT project is positioned as a significant initiative under the national "14th Five-Year Plan" to support emerging industries, with a production capacity of 60,000 tons of PBAT and 240,000 tons of BDO [7][10]. Industry Context - The civil explosive industry is experiencing a downturn, with production and sales values declining by 2.71% and 1.56% respectively [8]. - The demand for civil explosives is closely linked to fixed asset investment in the secondary industry, with significant applications in mining and infrastructure projects [10][11]. Regulatory Environment - The company must comply with various regulations governing the production and sale of civil explosives, ensuring safety and operational standards are met [14][21]. - Recent policies emphasize the need for innovation and digital transformation within the industry, aiming to enhance safety and efficiency [12][11].