登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：603609 证券简称：禾丰股份 公告编号：2025-100 债券代码：113647 债券简称：禾丰转债 禾丰食品股份有限公司 关于变更公司电子邮箱的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 禾丰食品股份有限公司（以下简称"公司"）根据实际工作需要，对公司电子邮箱进行变更，具体情况如 下： 变更前电子邮箱：hfmy@wellhope.co 变更后电子邮箱：hf@wellhopefood.com 除上述变更外，公司办公地址、联系电话等其他联系方式保持不变。变更后的电子邮箱自本公告披露之 日起正式启用，原邮箱地址同步停用，敬请广大投资者注意。由此给投资者带来的不便，敬请谅解。 特此公告。 禾丰食品股份有限公司董事会 2025年9月30日 证券代码：603609 证券简称：禾丰股份 公告编号：2025-099 债券代码：113647 债券简称：禾丰转债 禾丰食品股份有限公司 关于上海证券交易所对公司2025年半年度 报告信息披露监管问询函的回复公告 本公司董事会 ...

Core Viewpoint - The credit rating of Henan Jindan Lactic Acid Technology Co., Ltd. is maintained at AA- with a stable outlook, reflecting its strong industry position and operational capabilities despite facing certain risks related to market fluctuations and debt pressures [3][4][8]. Company Overview - Henan Jindan is the largest lactic acid producer in China, maintaining a significant scale advantage and industry position [4][12]. - The company has a production capacity of 183,000 tons of lactic acid and related products by the end of 2024, with ongoing projects to enhance its production capabilities [12][14]. Financial Performance - Total assets increased from 25.06 billion in 2022 to 34.76 billion by March 2025, while total liabilities rose from 9.64 billion to 16.54 billion in the same period [6][23]. - The company reported a net profit of 1.24 billion in 2022, which decreased to 0.09 billion in 2023, indicating volatility in profitability [6][21]. - The operating revenue showed fluctuations, with 15.35 billion in 2022, dropping to 14.18 billion in 2023, and slightly recovering to 15.05 billion in 2024 [6][19]. Market Position and Risks - The company faces risks from single-product focus, price fluctuations of raw materials, and international trade tensions, which could impact its business development [4][5][10]. - The competitive landscape is intensifying, leading to a decline in sales prices for its main products [12][13]. Research and Development - Henan Jindan is recognized as a national high-tech enterprise with multiple technology centers, focusing on enhancing production processes and developing biodegradable materials [17][18]. - The company has invested in R&D, with expenditures of 0.59 billion in 2022, 0.54 billion in 2023, and 0.57 billion in 2024, representing a consistent commitment to innovation [17][18]. Debt and Cash Flow Management - The company has a total debt of 12.81 billion as of March 2025, with a notable increase in short-term debt, indicating a need for better debt structure management [20][23]. - Cash flow from operating activities improved, with a net cash flow of 2.61 billion in 2024, enhancing its ability to cover debt obligations [20][23]. Future Outlook - The credit rating agency anticipates that the company's credit level will remain stable over the next 12 to 18 months, contingent on its ability to manage operational risks and maintain profitability [4][8]. - Potential factors for rating upgrades include significant improvements in capital strength and sustainable profit growth, while downgrades could arise from substantial losses or increased financial leverage [4][8].