Company Overview - Huida Sanitary Ware Co., Ltd. was founded in 1982 and is headquartered in Tangshan, Hebei Province, with an asset scale of 5.5 billion and products exported to over 100 countries and regions [2] - The company has three core production bases in Tangshan, Chongqing, and Guangxi, with an annual production capacity of 10 million sanitary ceramics, 500,000 smart bathrooms, and 600,000 high-end bathroom cabinets [2] - Huida owns multiple brands including "HUIDA," "DOFINY," and "LA'BOBO," covering a full range of products such as sanitary ware, ceramic tiles, rock slabs, and integrated kitchen and bathroom solutions [2] - The company has established national-level research and development facilities and has been recognized as a national high-tech enterprise and a national green factory [2] Governance and Management Practices - The board of directors consists of 9 members, including 3 independent directors, with a 33% representation of female directors, promoting diverse and professional decision-making [3] - The company has implemented a comprehensive management mechanism for information security, including risk warning, emergency response, real-time monitoring, and regular audits, enhancing data protection and compliance [3] - Huida has established a multi-dimensional defense network for system security, achieving a core business system availability of 99.99% and has not experienced any major information security incidents during the reporting period [3] - The company aims to achieve ISO 27001 international certification for information security management systems by 2024, reinforcing its commitment to transparent governance and digital empowerment [3]

Core Viewpoint - Huida Sanitary Ware has announced the termination of the public listing for the sale of 100% equity and debt of Guangxi Xingaosheng due to a lack of interested buyers, despite an initial listing price of 144 million yuan [1][2]. Group 1: Company Developments - On September 12, Huida Sanitary Ware and its subsidiary Beiliu Xinshi Da publicly listed the 100% equity and debt of Guangxi Xingaosheng at a starting price of 144 million yuan [1]. - As of September 25, the initial listing period ended without any interested buyers, leading to the termination of the transfer process [1]. - The company plans to discuss the sale of Guangxi Xingaosheng's equity and debt and will submit a proposal for board review [1]. Group 2: Financial Performance - In the first half of 2025, Huida Sanitary Ware reported total revenue of 1.425 billion yuan, a year-on-year decrease of 9.94% [2]. - The net profit attributable to the parent company was 17.97 million yuan, down 70.21% year-on-year, while the non-recurring net profit showed a loss of 29.86 million yuan compared to a profit of 26.91 million yuan in the previous year [2]. - The net cash flow from operating activities was 91.12 million yuan, a decline of 65.26% year-on-year, primarily due to reduced net receipts from sales and purchases [2][3]. Group 3: Business Impact - Guangxi Xingaosheng, which specializes in the research, design, production, and sales of ceramic thin slate products, is currently in a state of suspension [2]. - The revenue from Guangxi Xingaosheng accounted for 3.17% of Huida Sanitary Ware's most recent audited revenue, indicating that the asset sale will not significantly impact the company's main business or ongoing operations [2].