Recently, the investigation report on the "1.27" flash explosion accident of Shandong SAB New Materials Co., Ltd., which has attracted much attention, has been officially released. Accident process: At around 19:16 on January 27, 2024, product discharge operations were underway in the synthesis workshop of Shandong SAB New Materials Co., Ltd. During the homework process, there was a sudden explosion on site. The accident resulted in the immediate death of one operator and the injury of another operator who was taken to the hospital. Despite all efforts to rescue, the injured person ultimately died due to severe injuries and ineffective treatment. Economic losses: After verification, the direct economic losses caused by this accident amounted to 4.1028 million yuan.
Direct cause: The accident investigation expert group determined through on-site investigation, technical appraisal, and deduction analysis that the direct cause of the flash explosion accident was due to the improper operation of the on-site operators. The investigation report pointed out that the on duty operators Wang and Zhao seriously violated the company's safety production operating procedures during the operation process, using metal tools (copper shovels) to remove and clean the materials adhered to the centrifuge filter bag. During this process, the material may experience flash explosion due to severe friction or collision.
On the evening of February 27th, Jinhua New Materials disclosed its 2025 performance report, achieving a revenue of 1.032 billion yuan, a year-on-year decrease of 16.72%; The net profit attributable to the parent company was 195 million yuan, a year-on-year decrease of 7.68%; Deducting non net profit of 191 million yuan, a year-on-year decrease of 7.33%; The basic earnings per share are 1.82 yuan, and the weighted average return on equity is 17.79%.
The main reason for the performance change is that during the reporting period, the company's operating revenue is expected to be 1032297576.85 yuan, a year-on-year decrease of 16.72%, mainly due to the impact of the market environment on the prices of some products during the reporting period. At the end of the reporting period, the total assets of the company increased by 60.27% year-on-year, the owner's equity attributable to shareholders of the listed company increased by 98.98% year-on-year, the share capital increased by 38.33% year-on-year, and the net assets per share attributable to shareholders of the listed company increased by 43.84% year-on-year. This was mainly due to the company's public offering of stocks to unspecified eligible investors during the reporting period, which raised funds, as well as the company's profitability during the reporting period.