预披露公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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个别及连 带法律责任。 一、 减持主体的基本情况 | 股东名称 | 股东身份 | | 持股数量（股） | 持股比例 | 当前持股股份来源 | | --- | --- | --- | --- | --- | --- | | 上海昊鑫 | 持股 | 5%以 | 20,645,160 | 7.0913% | 北京证券交易所上市 | | 创业投资 | 上股东 | | | | 前取得 | | 企业（有限 | | | | | | | 合伙） | | | | | | 二、 减持计划的主要内容 证券代码：834261 证券简称：一诺威 公告编号：2024-086 山东一诺威聚氨酯股份有限公司 持股 5%以上股东拟减持公司股份不超过 1%的 本次减持计划未违反《公司法》《证券法》《北京证券交易所股票上市规则 （试行）》《北京证券交易所上市公司持续监管指引第 8 号—股份减持和持股 管理》等法律法规及相关规定的要求。 四、 相关风险提示 | 股东 名称 | | 计划减持 数量（股） | ...

| 日期 | 代码 | 简称 | 成交价 | 成交数量（股） | 买入营业部 | 卖出营业部 | | --- | --- | --- | --- | --- | --- | --- | | 2024-10- | | | | | 广发证券股份有限公 | 华泰证券股份有限公 | | 08 | 830799 | 艾融软件 | 18.48 | 800000 | 司上海控江路营业部 | 司郑州经三路证券营 | | | | | | | | 业部 | | | | | | | 中泰证券股份有限公 | 东吴证券股份有限公 | | 2024-10- | 834261 | 一诺威 | 6.16 | 118000 | 司淄博中润大道证券 | 司济南明湖东路二部 | | 08 | | | | | 营业部 | 营业部 | | | | | | | 华鑫证券有限责任公 | 开源证券股份有限公 | | 2024-10- | 870656 | 海昇药业 | 15.3 | 300000 | 司上海新松江路营业 | 司上海永泰路证券营 | | 08 | | | | | 部 | 业部 | | 2024-10- | | | | | 广发证券股份有限公 ...

Investment Rating - The investment rating for the company is "Buy" (首次) [1] Core Views - The company is a leading player in the polyurethane raw materials sector, focusing on the research, production, and sales of polyurethane raw materials and other downstream derivatives [1][10] - The company is expected to see significant profit growth, with projected net profits of 150 million, 178 million, and 215 million yuan for 2024, 2025, and 2026 respectively, corresponding to EPS of 0.52, 0.61, and 0.74 yuan per share [1][4] - The report highlights the favorable market conditions for the polyurethane industry in China, with a projected CAGR of 4.79% from 2021 to 2027 [2][23] Summary by Sections Company Overview - The company specializes in polyurethane raw materials and has a strong presence in the construction of sports venues [1][10] - It has achieved a market share of 34.61% in the CPU product category, ranking first nationally [3][19] Market Trends - The global polyurethane industry is shifting towards China, with significant growth potential in the elastomer market, expected to grow at a rate of 9-11% from 2023 to 2028 [2][23] - The domestic polyurethane market is projected to reach 237.9 billion yuan by 2027 [2][23] Financial Performance - The company reported a revenue of 6.308 billion yuan in 2022, with a slight decline in 2023, but is expected to rebound with a growth of 10.5% in 2024 [4][16] - The net profit for the first half of 2024 is projected to grow by 24.45% year-on-year, indicating strong cost control measures [16][20] Product Segmentation - The company's main products include elastomers, polyester, and polyether, with a growing revenue contribution from these categories [18][19] - The report details the various product categories, including CPU, TPU, and other derivatives, which are crucial for the company's revenue [14][19]

证券代码：834261 证券简称：一诺威 公告编号：2024-084 山东一诺威聚氨酯股份有限公司 2024 年第二次临时股东大会决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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个别及连 带法律责任。 一、会议召开和出席情况 （一）会议召开情况 1.会议召开时间：2024 年 9 月 10 日 2.会议召开地点：公司二号楼一楼会议室 3.会议召开方式：现场投票和网络投票相结合 4.会议召集人：董事会 5.会议主持人：董事长徐军先生 6.召开情况合法、合规、合章程性说明： 本次股东大会的召集和召开时间、方式、召集人及主持人符合《中华人民共 和国公司法》、《公司章程》及《股东大会议事规则》等有关规定。 2.公司在任监事 3 人，出席 3 人； 3.公司董事会秘书出席会议； 公司其他高级管理人员列席。 二、议案审议情况 审议通过《关于提名刘春玉女士为公司第四届董事会独立董事并调整公司 第四届董事会专门委员会成员的议案》 （二）会议出席情况 出席和授权出席本次股东大会的股东共 26 人，持有表决权的股份总数 166,162, ...

北京市东城区建国门内大街 26 号新闻大厦 7 层、8 层 电话：010-88004488/66090088 传真：010-66090016 邮编：100005 北京国枫律师事务所 关于山东一诺威聚氨酯股份有限公司 2024 年第二次临时股东大会的 法律意见书 国枫律股字[2024]A0455 号 致：山东一诺威聚氨酯股份有限公司（贵公司） 北京国枫律师事务所（以下简称"本所"）接受贵公司的委托，指派律师出席并见 证贵公司 2024 年第二次临时股东大会（以下简称"本次会议"）。 本所律师根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人 民共和国证券法》（以下简称"《证券法》"）、《上市公司股东大会规则》（以下简 称"《股东大会规则》"）、《律师事务所从事证券法律业务管理办法》（以下简称"《证券 法律业务管理办法》"）、《律师事务所证券法律业务执业规则（试行）》（以下简称"《证 券法律业务执业规则》"）等相关法律、行政法规、规章、规范性文件及《山东一诺威聚 氨酯股份有限公司章程》（以下简称"《公司章程》"）的规定，就本次会议的召集与召 开程序、召集人资格、出席会议人员资格、会议表决程序及表决结 ...

证券代码：834261 证券简称：一诺威 公告编号：2024-074 山东一诺威聚氨酯股份有限公司 第四届董事会第七次会议决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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个别及连 带法律责任。 一、会议召开和出席情况 （一）会议召开情况 1.会议召开时间：2024 年 8 月 21 日 2.会议召开地点：公司会议室 3.会议召开方式：现场与通讯方式相结合 4.发出董事会会议通知的时间和方式：2024 年 8 月 10 日以通讯方式发出 5.会议主持人：董事长徐军先生 6.会议列席人员：部分监事和高级管理人员 7.召开情况合法、合规、合章程性说明： 本次会议的召集、召开、表决程序及出席会议的董事人数符合法律、法规及 《公司章程》的有关规定。 （二）会议出席情况 会议应出席董事 9 人，出席和授权出席董事 9 人。 董事李健、陈海良、牛富刚、徐冯逸如、武恒光、张义福因工作原因以通讯 方式参与表决。 二、议案审议情况 （一）审议通过《关于<2024 年半年度报告>及<2024 年半年度报告摘要> 的议 案》 1.议案内容： ...

证券代码：834261 证券简称：一诺威 公告编号：2024-081 提名人山东一诺威聚氨酯股份有限公司（以下简称"公司"）董事会，现提 名刘春玉女士为山东一诺威聚氨酯股份有限公司第四届董事会独立董事候选人， 并已充分了解被提名人职业、学历、职称、详细的工作经历、全部兼职、有无重 大失信等不良记录等情况。被提名人已书面同意出任山东一诺威聚氨酯股份有限 公司第四届董事会独立董事候选人（参见该独立董事候选人声明与承诺）。提名 人认为，被提名人具备独立董事任职资格，与山东一诺威聚氨酯股份有限公司之 间不存在任何影响其独立性的关系，且提名人与被提名人不存在利害关系或者可 能妨碍被提名人独立履职的其他关系，具体声明并承诺如下： 一、被提名人已同时符合以下条件： （一）具备上市公司运作的基本知识，熟悉相关法律法规、部门规章、规范 性文件及北交所业务规则； （二）具有五年以上履行独立董事职责所必需的法律、会计或者经济等工作 经验； （三）具有良好的个人品德，不存在重大失信等不良记录； 山东一诺威聚氨酯股份有限公司 独立董事提名人声明与承诺 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者 ...

证券代码：834261 证券简称：一诺威 公告编号：2024-079 山东一诺威聚氨酯股份有限公司 募集资金存放与实际使用情况的专项报告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 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个别及连 带法律责任。 一、募集资金基本情况 | 加：募集资金账户理财收益及利息收入扣减 | 4,326,522.52 | | --- | --- | | 手续费后净额 | | | 减：投入募集资金项目金额 | 101,610,246.13 | | （其中：置换投入募投项目金额） | 42,259,499.33 | | 减：闲置募集资金暂时补充流动资金 | 30,000,000.00 | | 期末余额 | 160,106,955.59 | | 其中：使用部分闲置募集资金进行现金管理 | 50,000,000.00 | （一）实际募集资金金额、资金到位时间 （三）募集资金专户存储情况 公司于 2023 年 1 月 30 日收到中国证券监督管理委员会下发的《关于同意山 东一诺威聚氨酯股份有限公司向不特定合格投资者公开发行股票注册的批复》 （证监许可 ...

证券代码：834261 证券简称：一诺威 公告编号：2024-080 山东一诺威聚氨酯股份有限公司独立董事任命公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、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个别及连带法律责任。 一、任免基本情况 （一）任免的基本情况 根据《公司法》、《北京证券交易所股票上市规则（试行）》、《上市公司独立董事管 理办法》、《北京证券交易所上市公司持续监管指引第 1 号—独立董事》等相关法律、法 规的要求，公司第四届董事会第七次会议于 2024 年 8 月 21 日审议并通过，同意提名刘 春玉女士为公司第四届董事会独立董事。 提名刘春玉女士为公司独立董事，任职期限至公司第四届董事会届满之日，本次任 免尚需提交股东大会审议，自 2024 年第二次临时股东大会决议通过之日起生效。上述 提名人员持有公司股份 0 股，占公司股本的 0%，不是失信联合惩戒对象。 （二）任命原因 因公司独立董事张义福先生连续担任公司独立董事满六年，申请辞去公司独立董事 职务，为完善公司治理结构、促进公司规范运作、更好地维护中小股东利益，根据《公 司法》及《公司章程》 ...

[Section I Important Notice, Table of Contents, and Definitions](index=4&type=section&id=Section%20I%20Important%20Notice%2C%20Table%20of%20Contents%2C%20and%20Definitions) This section provides important notices, the table of contents, and defines key terms used throughout the report [Important Notice](index=4&type=section&id=Important%20Notice) The company's management guarantees the truthfulness, accuracy, and completeness of this semi-annual report, with no false records, misleading statements, or major omissions, and confirms no delisting risks - The company's directors, supervisors, and senior management ensure the report's content is true, accurate, and complete, assuming corresponding legal responsibilities[3](index=3&type=chunk) - This semi-annual report has not been audited by an accounting firm[3](index=3&type=chunk)[4](index=4&type=chunk) - The company confirms there are no delisting risks[5](index=5&type=chunk) [Definitions](index=5&type=section&id=Definitions) This chapter defines key terms used in the report, including abbreviations for the company and its subsidiaries, regulatory bodies, the reporting period (January 1 to June 30, 2024), and professional chemical abbreviations related to the polyurethane industry - The reporting period is defined as January 1, 2024, to June 30, 2024[6](index=6&type=chunk) - Key definitions for the company's main subsidiaries and critical chemical raw materials (e.g., EO, PO, MDI, TDI, PPG, AA) are clarified[6](index=6&type=chunk) [Section II Company Profile](index=6&type=section&id=Section%20II%20Company%20Profile) This section provides an overview of the company's basic information, including its stock code, main business, and controlling shareholder [Basic Information](index=6&type=section&id=I.%20Basic%20Information) Shandong Inov Polyurethane Co., Ltd. (stock code: 834261) is a chemical raw material and product manufacturing enterprise listed on the Beijing Stock Exchange, primarily engaged in R&D, production, and sales of polyurethane raw materials and EO, PO downstream derivatives, with Xu Jun as the controlling shareholder and actual controller Company Basic Information | Item | Information | | :--- | :--- | | Stock Abbreviation | Inov (834261) | | Company Full Name | Shandong Inov Polyurethane Co., Ltd. | | Listing Exchange | Beijing Stock Exchange | | Listing Date | April 3, 2023 | | Main Business | R&D, production, and sales of polyurethane raw materials and EO, PO downstream derivatives | | Total Share Capital | 291,132,748 shares | | Controlling Shareholder/Actual Controller | Xu Jun | [Section III Accounting Data and Operating Performance](index=8&type=section&id=Section%20III%20Accounting%20Data%20and%20Operating%20Performance) This section presents the company's key financial data, operating results, and a review of its business performance during the reporting period [Key Accounting Data and Financial Indicators](index=8&type=section&id=I.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) During the reporting period, the company achieved operating revenue of **3.318 billion Yuan**, a **10.17% year-on-year increase**, and net profit attributable to the parent company of **72.325 million Yuan**, a **24.45% increase**, despite a decrease in gross profit margin from 7.09% to 5.71%, while net cash flow from operating activities significantly decreased by 73.68% Profitability Indicators (H1 2024) | Indicator | Current Period | Prior Period | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 3,318,178,235.65 | 3,011,866,932.90 | 10.17% | | Net Profit Attributable to Parent Company (Yuan) | 72,325,040.88 | 58,114,683.76 | 24.45% | | Net Profit Attributable to Parent Company (Excluding Non-Recurring Items) (Yuan) | 65,134,072.79 | 52,548,865.16 | 23.95% | | Gross Profit Margin (%) | 5.71% | 7.09% | - | | Basic Earnings Per Share (EPS) (Yuan) | 0.25 | 0.19 | 31.58% | Solvency and Operating Capability Indicators | Indicator | End of Current Period/Current Period | End of Prior Period/Prior Period | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets (Yuan) | 2,372,962,246.76 | 2,314,620,499.29 | 2.52% | | Asset-Liability Ratio (Consolidated, %) | 39.61% | 37.79% | - | | Net Cash Flow from Operating Activities (Yuan) | 13,390,299.53 | 50,878,783.91 | -73.68% | [Non-Recurring Gains and Losses and Amounts](index=8&type=section&id=II.%20Non-Recurring%20Gains%20and%20Losses%20and%20Amounts) During the reporting period, the company's net non-recurring gains and losses amounted to **7.191 million Yuan**, primarily from government grants of **8.170 million Yuan** recognized in current profit or loss Non-Recurring Gains and Losses (H1 2024) | Item | Amount (Yuan) | | :--- | :--- | | Government Grants | 8,169,732.92 | | Gains/Losses from Disposal of Non-Current Assets | -245,891.54 | | Other Non-Operating Income/Expenses | 213,007.42 | | Gains/Losses from Fair Value Changes of Financial Assets/Liabilities Held for Trading | 317,849.92 | | **Total Non-Recurring Gains and Losses** | **8,454,698.72** | | Less: Income Tax Impact | 1,263,730.63 | | **Net Non-Recurring Gains and Losses** | **7,190,968.09** | [Business Overview](index=9&type=section&id=VI.%20Business%20Overview) The company is a professional manufacturer of polyurethane raw materials and EO, PO downstream derivatives, with products widely used in light industry, construction, machinery, and other sectors, operating on a "production based on sales, payment in advance" model, focusing on direct sales in domestic markets while actively expanding internationally, and possessing strong independent R&D capabilities with 520 authorized invention patents and participation in drafting 28 national standards - The company's core business is the R&D, production, and sales of polyurethane raw materials and EO, PO downstream derivatives[17](index=17&type=chunk) - The core business model is "production based on sales, payment in advance," effectively controlling operational risks[17](index=17&type=chunk) - The company boasts strong technical capabilities, holding **520 invention patents** and participating in the formulation of numerous national and industry standards[17](index=17&type=chunk)[20](index=20&type=chunk) - The company and several subsidiaries are recognized as national or provincial "Specialized, Refined, Unique, and Innovative" enterprises, and have received national "Individual Champion" and "High-Tech Enterprise" certifications[18](index=18&type=chunk)[19](index=19&type=chunk) [Operating Performance Review](index=11&type=section&id=VII.%20Operating%20Performance%20Review) In the first half of 2024, the company focused on its main business, leveraging its industrial chain advantages to achieve growth in both revenue and profit, with total assets reaching **2.373 billion Yuan**, operating revenue of **3.318 billion Yuan** (a **10.17% year-on-year increase**), and net profit of **72.325 million Yuan** (a **24.45% year-on-year increase**), steadily enhancing its development momentum through quality improvement, cost reduction, efficiency enhancement, and new product/technology deployment, despite the overall low-profit environment in the chemical industry 2024 H1 Operating Performance | Indicator | Amount (billion Yuan) | YoY Growth | | :--- | :--- | :--- | | Operating Revenue | 3.318 | 10.17% | | Operating Profit | 0.086 | 23.70% | | Net Profit | 0.072 | 24.45% | - The company continuously increased R&D investment, accumulating **520 authorized invention patents** and leading or participating in drafting **28 national standards** as of the end of the reporting period[20](index=20&type=chunk) - At the industry level, industrial upgrading and concentration enhancement under the carbon neutrality backdrop are key themes, with policy support bringing development opportunities for the polyurethane industry[21](index=21&type=chunk) [Operating Performance Analysis](index=12&type=section&id=2.%20Operating%20Performance%20Analysis) During the reporting period, the company's operating revenue increased by **10.17% year-on-year**, primarily driven by a **15.97% growth in main business revenue**, with significant increases in polyurethane elastomers and EO, PO downstream derivatives revenue by **28.13%** and **38.95%** respectively, while domestic revenue grew by **17.79%** and international revenue decreased by **8.34%**, and positive changes in financial expenses, credit impairment losses, investment income, and fair value change gains collectively contributed to the growth in operating profit Revenue Composition by Product Category (H1 2024) | Product Category | Operating Revenue (Yuan) | YoY Revenue Change | | :--- | :--- | :--- | | Polyurethane Elastomers | 1,157,642,058.17 | 28.13% | | Polyester/Polyether Polyols and Blended Polyols | 1,264,046,238.52 | 4.12% | | EO, PO Downstream Derivatives | 206,885,412.48 | 38.95% | | Other Business Income | 689,584,539.05 | -7.46% | Revenue Composition by Region (H1 2024) | Region | Operating Revenue (Yuan) | YoY Revenue Change | | :--- | :--- | :--- | | Domestic | 2,513,045,195.37 | 17.79% | | International | 805,133,040.28 | -8.34% | - Several profit and loss items showed significant positive changes: financial expenses decreased by **68.07%** due to increased exchange gains; investment income increased by **86.81%** due to reduced losses from foreign exchange derivative business; and fair value change gains turned positive from negative, increasing by **102.15%**, due to fair value adjustments of foreign exchange derivatives[26](index=26&type=chunk) [Cash Flow Status](index=14&type=section&id=3.%20Cash%20Flow%20Status) During the reporting period, the company's net cash flow from operating activities was **13.390 million Yuan**, a significant **73.68% year-on-year decrease**, primarily due to increased inventories, decreased contract liabilities, and a higher proportion of bank acceptance bill settlements, while net cash flow from investing activities turned positive with a **294.10% increase** mainly from the recovery of matured wealth management products, and net cash flow from financing activities showed a substantial outflow, decreasing by **131.30% year-on-year**, mainly due to the inflow of public offering funds in the prior period Major Cash Flow Statement Items (H1 2024) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 13,390,299.53 | 50,878,783.91 | -73.68% | | Net Cash Flow from Investing Activities | 37,539,186.69 | -19,340,256.70 | 294.10% | | Net Cash Flow from Financing Activities | -86,312,690.44 | 275,717,413.19 | -131.30% | - The decrease in operating cash flow was mainly influenced by changes in working capital, including an **increase in inventories by 79.825 million Yuan** and a **decrease in contract liabilities by 22.845 million Yuan**[31](index=31&type=chunk) [Analysis of Major Holding and Associate Companies](index=15&type=section&id=VIII.%20Analysis%20of%20Major%20Holding%20and%20Associate%20Companies) The company's major holding subsidiaries all achieved profitability, with Inov New Materials, a core subsidiary, reporting a net profit of **16.224 million Yuan** and Dongda Chemical achieving a net profit of **10.633 million Yuan** during the reporting period, as each subsidiary contributed to the company's overall performance through synergistic development in areas such as blended polyols and specialty polyether monomers Major Holding Subsidiary Operating Performance (H1 2024) | Company Name | Net Assets (Yuan) | Operating Revenue (Yuan) | Net Profit (Yuan) | | :--- | :--- | :--- | :--- | | Inov New Materials | 359,882,083.15 | 1,022,794,983.29 | 16,224,412.48 | | Dongda Chemical | 166,997,276.22 | 388,718,343.68 | 10,632,921.26 | | Dongda Polyurethane | 125,830,924.05 | 275,036,523.05 | 6,492,248.87 | [Corporate Social Responsibility](index=17&type=section&id=XI.%20Corporate%20Social%20Responsibility) The company actively fulfills its social responsibilities, emphasizing safety, quality, environmental, and occupational health management while operating legally and compliantly, participating in various social welfare and charitable activities during the reporting period, and promoting green sustainable development by advancing cleaner production, constructing regenerative thermal oxidizers for ultra-low VOC emissions, and conducting environmental training - The company actively participates in social welfare and charitable initiatives, including targeted assistance and donations[34](index=34&type=chunk) - In environmental protection, the company vigorously promotes cleaner production audits and invests in environmental facilities such as Regenerative Thermal Oxidizers (RTO) to achieve ultra-low waste gas emissions, moving towards a "zero" emission goal[35](index=35&type=chunk) [Company Risks and Countermeasures](index=17&type=section&id=XIV.%20Company%20Risks%20and%20Countermeasures) The company faces key risks including product technology upgrades, raw material price fluctuations, exchange rate volatility, changes in tax incentive policies, and production safety and environmental protection risks, which it actively addresses through continuous R&D investment, annual contracts with suppliers, optimized procurement channels, financial tools to mitigate exchange rate risk, and enhanced safety and environmental management - Product technology upgrade risk: The countermeasure is continuous R&D investment, leveraging the postdoctoral research workstation and collaborations with universities to maintain technological leadership[36](index=36&type=chunk) - Raw material price fluctuation risk: Addressed by signing annual contracts with leading suppliers, adjusting procurement through import/export channels, and improving processes for cost reduction and efficiency gains[36](index=36&type=chunk)[37](index=37&type=chunk) - Exchange rate fluctuation risk: Mitigated by choosing USD or RMB settlement and timely foreign exchange settlement[37](index=37&type=chunk) - Production safety and environmental protection risk: Managed through company-wide safety management, increased investment in environmental facilities, and implementation of cleaner production measures[37](index=37&type=chunk)[38](index=38&type=chunk) [Section IV Significant Events](index=20&type=section&id=Section%20IV%20Significant%20Events) This section details significant events during the reporting period, including litigation, fund occupation, and assets with restricted rights [Details of Significant Events](index=20&type=section&id=II.%20Details%20of%20Significant%20Events) During the reporting period, the company had no significant litigation or arbitration matters, nor any instances of shareholders or their related parties occupying company funds, while certain assets had restricted rights, primarily for bank loan mortgages and acceptance bill margins/pledges, totaling **339 million Yuan** in book value, representing **14.27% of total assets**, with no adverse impact on the company - During the reporting period, the company had no significant litigation or arbitration matters, nor any instances of shareholders or their related parties occupying company funds or assets[40](index=40&type=chunk) Assets with Restricted Rights | Asset Name | Type of Restriction | Book Value (Yuan) | % of Total Assets | Reason | | :--- | :--- | :--- | :--- | :--- | | Cash and Cash Equivalents | Frozen | 2,922,611.76 | 0.12% | Acceptance Bill Margin | | Notes Receivable | Pledged/Endorsed | 236,976,208.07 | 9.98% | Pledged for Issuance/Endorsed for Payment | | Fixed Assets | Mortgaged | 76,688,927.31 | 3.23% | Mortgage Loan | | Intangible Assets | Mortgaged | 22,064,562.93 | 0.93% | Mortgage Loan | | **Total** | - | **338,652,310.07** | **14.27%** | - | [Section V Share Changes and Financing](index=22&type=section&id=Section%20V%20Share%20Changes%20and%20Financing) This section outlines changes in the company's common stock capital structure and the utilization of raised funds [Common Stock Capital Structure](index=22&type=section&id=I.%20Common%20Stock%20Capital%20Structure) As of the end of the reporting period, the company's total share capital was **291,132,748 shares**, with no changes in its capital structure, where unrestricted shares accounted for **43.65%** and restricted shares for **56.35%**, and controlling shareholder Xu Jun held **39.79%**, with the top ten shareholders collectively holding **65.66%** Share Capital Structure (as of June 30, 2024) | Share Nature | Quantity (shares) | Proportion (%) | | :--- | :--- | :--- | | Unrestricted Shares | 127,076,933 | 43.65% | | Restricted Shares | 164,055,815 | 56.35% | | **Total Share Capital** | **291,132,748** | **100.00%** | Top Three Shareholders' Holdings | Shareholder Name | Number of Shares Held | Shareholding Proportion (%) | | :--- | :--- | :--- | | Xu Jun | 115,843,039 | 39.79% | | Li Jian | 32,480,034 | 11.16% | | Shanghai Haoxin Venture Capital Enterprise | 20,645,160 | 7.09% | [Issuance of Common Stock and Use of Raised Funds During the Reporting Period](index=24&type=section&id=III.%20Issuance%20of%20Common%20Stock%20and%20Use%20of%20Raised%20Funds%20During%20the%20Reporting%20Period) During the reporting period, the company invested **18.1375 million Yuan** of raised funds into fund-raising investment projects, with cumulative investment reaching **102 million Yuan** as of June 30, 2024, leaving a remaining balance of **160 million Yuan**, of which **50 million Yuan** is used for cash management - As of June 30, 2024, the net amount of publicly raised funds was **287 million Yuan**[46](index=46&type=chunk) - Cumulative investment in fund-raising investment projects reached **102 million Yuan**, with **160 million Yuan** remaining unused at period-end, of which **50 million Yuan** was used to purchase wealth management products[45](index=45&type=chunk)[46](index=46&type=chunk)[47](index=47&type=chunk) [Section VI Changes in Directors, Supervisors, Senior Management, and Core Employees](index=26&type=section&id=Section%20VI%20Changes%20in%20Directors%2C%20Supervisors%2C%20Senior%20Management%2C%20and%20Core%20Employees) This section reports on personnel changes within the board of directors, supervisory board, senior management, and core employee team [Information on Directors, Supervisors, and Senior Management](index=26&type=section&id=I.%20Information%20on%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) During the reporting period, the company's board of directors experienced changes, with Mr. Dong Jianguo resigning as director and deputy general manager due to personal reasons, and Mr. Zhu Desheng resigning as independent director due to serving on more than three boards, while Mr. Gao Zhensheng and Mr. Niu Fugang were elected as directors, and Mr. Wu Hengguang as independent director, with key positions such as chairman, general manager, board secretary, and chief financial officer remaining unchanged - During the reporting period, the company's core management, including Chairman Xu Jun and General Manager Li Jian, remained stable[48](index=48&type=chunk)[51](index=51&type=chunk) - The board of directors saw changes: Dong Jianguo (director, deputy general manager) and Zhu Desheng (independent director) departed; Gao Zhensheng and Niu Fugang were newly appointed as directors, and Wu Hengguang as independent director[52](index=52&type=chunk)[53](index=53&type=chunk) [Employee Information](index=28&type=section&id=II.%20Employee%20Information) As of the end of the reporting period, the company and its holding subsidiaries had **1,162 employees**, a decrease of **66** from the beginning of the period, including a reduction of **29 R&D personnel** to **118**, and a decrease of **1 core employee** to **45**, primarily due to retirement, which had no significant impact on the company's operations Employee Structure Changes | By Job Nature | Number at Beginning of Period | Number at End of Period | | :--- | :--- | :--- | | Management Personnel | 195 | 226 | | Production Personnel | 625 | 577 | | Sales Personnel | 233 | 213 | | R&D Personnel | 147 | 118 | | Financial Personnel | 28 | 28 | | **Total Employees** | **1,228** | **1,162** | - Core employees decreased from **46** at the beginning of the period to **45**, with the change attributed to the retirement of one core employee[57](index=57&type=chunk) [Section VII Financial Accounting Report](index=29&type=section&id=Section%20VII%20Financial%20Accounting%20Report) This section contains the company's unaudited financial statements and detailed notes, providing a comprehensive view of its financial position and performance [Financial Statements](index=29&type=section&id=II.%20Financial%20Statements) This chapter provides the unaudited consolidated and parent company financial statements, including the balance sheet, income statement, cash flow statement, and statement of changes in shareholders' equity, with detailed financial data analysis presented in "Section III Accounting Data and Operating Performance" - Consolidated and parent company balance sheets as of June 30, 2024, are provided[59](index=59&type=chunk)[62](index=62&type=chunk) - Consolidated and parent company income statements for January-June 2024 are provided[65](index=65&type=chunk)[67](index=67&type=chunk) - Consolidated and parent company cash flow statements for January-June 2024 are provided[69](index=69&type=chunk)[71](index=71&type=chunk) [Notes to Financial Statements](index=45&type=section&id=III.%20Notes%20to%20Financial%20Statements) The notes to the financial statements detail the company's basic information, basis of financial statement preparation, significant accounting policies and estimates, taxation, and specific details of major items in the consolidated financial statements, with no significant changes in accounting policies or estimates during the reporting period, and also disclose important information such as related party relationships, commitments and contingencies, and post-balance sheet events - During the reporting period, the company implemented the 2023 annual equity distribution, distributing a cash dividend of **3 Yuan (tax inclusive) per 10 shares** based on **282,688,556 shares** after deducting repurchased shares, totaling **84,806,566.80 Yuan**[83](index=83&type=chunk) - The company and several subsidiaries are recognized as high-tech enterprises, enjoying a **15% corporate income tax preferential rate**[119](index=119&type=chunk) - The notes provide detailed breakdowns and changes for key financial statement items such as accounts receivable, inventories, fixed assets, construction in progress, borrowings, and accounts payable[126](index=126&type=chunk)[137](index=137&type=chunk)[141](index=141&type=chunk) [Section VIII List of Documents for Reference](index=98&type=section&id=Section%20VIII%20List%20of%20Documents%20for%20Reference) This section lists all official documents available for public inspection, including signed financial statements and disclosed announcements [List of Documents for Reference](index=98&type=section&id=List%20of%20Documents%20for%20Reference) This chapter lists the documents available for reference, including financial statements signed and sealed by the company's responsible person and chief accountant, as well as originals of all publicly disclosed documents and announcements during the reporting period, which are kept at the company's Board Secretary Office - Documents for reference include financial statements signed by management and all publicly disclosed documents from the reporting period[223](index=223&type=chunk)