Core Viewpoint - The company, Nantong Acetic Acid Chemical Co., Ltd. (醋化股份), has released its 2025 semi-annual report, highlighting significant financial data and the decision to not distribute profits or increase capital reserves during this period [1][5]. Group 1: Company Overview - The company is identified as Nantong Acetic Acid Chemical Co., Ltd. with the stock code 603968 [2]. - The report emphasizes the importance of reviewing the full semi-annual report for a comprehensive understanding of the company's performance and future plans [1]. Group 2: Financial Data - The company reported a total asset impairment loss of 25.99 million yuan for the first half of 2025, which includes credit impairment and inventory write-downs [13][14]. - The credit impairment provision amounted to 1.82 million yuan, while the inventory write-down provision was 24.17 million yuan, collectively reducing the total profit by 4.14 million yuan, representing 29.72% of the profit before impairment [15]. Group 3: Board Meeting - The 22nd meeting of the 8th Board of Directors was held on August 27, 2025, with all 9 directors participating, and the meeting was deemed legally valid [4][7]. - The board approved the semi-annual report and the asset impairment provision during this meeting [5][9].

在管理团队优势方面，醋化股份拥有一支长期从事化工行业，技术实力较强，善于决策、懂经营、会管 理的管理团队，该管理团队从上世纪80 年代开始涉足精细化工领域的研发生产，专注本业40年，是中 国最早一批涉足双乙烯酮、山梨酸及吡啶行业的人士，经历过多次全行业的周期波动，在产业环境变 化、产品发展趋势、研发及销售等各方面有着丰富的经验。醋化股份管理团队凭着对食品、饲料添加剂 和中间体行业的深刻理解和管理团队丰富的从业经验，制定了具有鲜明特色的专业化发展战略，采用集 中和差异化的方式在细分市场的基础上建立起自己的竞争优势，加上良好的产品品质、价值服务，醋化 股份经历并承受住市场的残酷考验，逐步成为了细分市场的领先者。醋化股份建立了梯队合理的高层 次、高素质、经验丰富的核心管理团队。醋化股份的核心管理团队，由于共同的价值理念加上相似的教 育、工作背景，经过长期磨合，核心管理团队处于稳定的状态，利于公司长期发展战略的实施，利于公 司的稳定快速发展。并且经过多年的努力，醋化股份培养了职业化、专业化的团队。醋化股份已逐步形 成以博士、硕士为核心，专业技术人员为骨干，中青年相结合的中层管理队伍。优秀、稳定的管理团队 为公司的发展 ...