Henghe Co., Ltd. (920145) held a performance briefing for the year 2025, addressing the decline in stock price, the progress of joint ventures, and delisting risks

Beijing Henghe Xinye Technology Co., Ltd. held its 2025 annual performance briefing on May 21 through a remote online format. The reception team from the listed company included Chairman and General Manager Mr. Li Yujian, Director and Board Secretary Ms. Xu Jingning, and Financial Officer Mr. Li Yongzhen. In response to investors' concerns about the secondary market performance and the continuous decline in stock prices, the company stated that the secondary market stock prices are influenced by various factors such as market environment, macroeconomic conditions, and investor expectations. The company will focus on its main business, continuously strengthen its operational management, and improve its corporate governance level, striving to reward investors with good development performance. The company indicated that it has deployed improvement measures in four areas: strategic cooperation, enhancement of main business, expansion of product application fields, and cost reduction and efficiency enhancement, making every effort to improve operational quality. Regarding the business development of the new joint venture with Sinotec, the company responded that it continues to excel in its main business of oil and gas recovery management and online monitoring, while vertically developing into upstream sectors such as petroleum and petrochemical extraction. At the same time, it is steadily advancing the development of its subsidiary's ceramic pressure sensor business. The company clearly stated, "The cooperation between the company and Sinotec is progressing." In response to questions about the reasons for the low revenue from the main business and whether there is a risk of delisting, the company explained that in recent years, the industry in which the company operates has faced many challenges, with market demand affected by the macroeconomic environment, and challenges such as narrowing business growth space under the transformation to new energy and low-price competition in the industry, leading to a decrease in main business revenue. The market cultivation cycle for the pressure core business of the company's controlling subsidiary, Xinzhiguan, is relatively long, and the product is in the early stage of market expansion, resulting in sales fluctuations. According to Changbi Finance, the company mainly engages in comprehensive governance and monitoring services for volatile organic compounds (VOCs), providing customers with integrated solutions including design, research and development, production, integration, installation and debugging, data analysis, third-party testing, and operation and maintenance services. Core products include online monitoring systems for oil and gas recovery at gas stations and oil depots, oil and gas treatment devices for gas stations and oil depots, level measurement systems, intelligent network monitoring platforms, ceramic pressure sensors, and core components. The company is recognized as a national high-tech enterprise, holding 21 patents, including 5 invention patents, 14 utility model patents, 2 design patents, and 78 software copyrights. The company is committed to providing domestic and international well-known large petrochemical enterprises such as China National Petroleum Corporation, China Petroleum & Chemical Corporation, China National Offshore Oil Corporation, Sinochem, and Shell with localized, digitalized, and integrated products and services. The subsidiary's business covers environmental testing services for petroleum and petrochemicals, as well as the research, development, manufacturing, and sales of automotive-grade ceramic pressure sensors and sensitive components. The company continues to maintain a leading position in the oil and gas recovery treatment devices and online monitoring projects at gas stations, successfully winning bids for the development of its subsidiary's ceramic capacitive pressure sensor business in regions such as Xinjiang, Liaoning, Sichuan, Tianjin, and Beijing. On this basis, the company has strengthened its business in operation and maintenance service projects, undertaking operation and maintenance work for various brands of oil and gas treatment devices and online monitoring systems in regions such as Beijing, Zhejiang, Jiangsu, and Shaanxi, ensuring the continuous development of its business. In addition, the company will promote the market scope of oil depot oil and gas treatment devices and online monitoring systems, strengthen the market development of various testing instruments and new products, explore the recovery and utilization of associated gas in oil fields, and strive to develop upstream in the petroleum and petrochemical field