有效期：自公司董事会审议通过之日起12个月，如授信额度项下单笔借款 存续期超过前述有效期，则决议的有效期自动顺延至该笔借款期满之日。 西部证券股份有限公司 关于浙江晨光电缆股份有限公司 为全资子公司提供担保的核查意见 西部证券股份有限公司（以下简称"保荐人"）作为浙江晨光电缆股份有 限公司（以下简称"发行人"或"公司"）向不特定合格投资者公开发行股票 并在北京证券交易所（以下简称"北交所"）上市的保荐人，根据《证券发行 上市保荐业务管理办法》《北京证券交易所上市公司持续监管办法（试行）》 《北京证券交易所证券发行上市保荐业务管理细则》《北京证券交易所股票上 市规则（试行）》等相关法律、法规和规范性文件的规定，对发行人为全资子 公司提供担保事项进行了核查，具体核查情况如下： 一、本次担保的具体情况 根据公司业务发展的需要，公司全资子公司平湖白沙湾包装有限公司（以 下简称"白沙湾包装"）及浙江晨光电缆科技有限公司（以下简称"晨光科 技"）拟继续向浙江平湖农村商业银行股份有限公司独山港支行（以下简称 "农商行独山港支行"）申请授信融资，公司拟以自有资产继续为全资子公司 的授信融资提供担保： 1、公司拟继续为白沙湾包 ...

证券代码：834639 证券简称：晨光电缆 公告编号：2023-066 浙江晨光电缆股份有限公司 第六届监事会第九次会议决议公告 本公司及监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 1.会议召开时间：2023 年 8 月 25 日 2.会议召开地点：公司会议室 3.会议召开方式：现场和视频 4.发出监事会会议通知的时间和方式：2023 年 8 月 14 日以电话或短信方式发出 5.会议主持人：监事会主席李红 信息披露平台（http://www.bse.cn)上披露的公司《2023 年半年度报告》《2023 年半年度报告摘要》（公告编号 2023-067、2023-068）。 2.议案表决结果：同意 3 票；反对 0 票；弃权 0 票。 （一）会议召开情况 6.召开情况合法、合规、合章程性说明： 本次会议的召集、召开符合《公司法》和《公司章程》的有关规定，决议合 法有效。 （二）会议出席情况 会议应出席监事3人，出席和授权出席监事3人，其中监事陈晓霞视频参会。 二、议案审议情况 （一） ...

证券代码：834639 证券简称：晨光电缆 公告编号：2023-071 浙江晨光电缆股份有限公司 独立董事关于对公司第六届董事会第九次会议相关事项的独立意见 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。 杨黎明、方先丽、沈凯军 2023年8月28日 1、《关于公司2023年半年度报告及其摘要的议案》 经审阅议案内容，我们认为，公司《2023年半年度报告》及其摘要的编制 真实、客观地反映了公司的资产、经营状况。符合公司和全体股东的利益，不 存在侵害全体股东特别是中小股东利益的情形。我们同意该议案。 2、《关于审议<公司2023年半年度募集资金存放与实际使用情况的专项报 告>的议案》 经审阅议案内容，我们认为，公司2023年半年度募集资金存放与实际使用 符合《北京证券交易所上市公司持续监管办法（试行）》《北京证券交易所股 票上市规则（试行）》等有关法规和规范性文件的规定，不存在违规存放与使 用募集资金的情况，不存在募集资金被大股东或实际控制人占用等违法违规的 情况。募集资金使用情况的披露与实际使用情况相符 ...

Corporate Structure and Governance - The total share capital of the company is 201,600,000 shares, with no preferred shares issued [25]. - The company is listed on the Beijing Stock Exchange since July 12, 2022, under the stock code 834639 [25]. - The company’s registered capital is 201,600,000 yuan [26]. - The company’s actual controller is Zhu Shuiliang, with Zhu Weiyi and Wang Mingzhen as concerted actors [25]. - The company has established rules to improve corporate governance and protect minority shareholders' interests against potential misuse of control by major shareholders [75]. - The company has a total of 15,790 shareholders as of the end of the reporting period [126]. - The company has a total of 9 board members and 3 supervisors, with 7 senior management personnel [136]. - There were no changes in the board of directors or senior management during the reporting period [136]. - The controlling shareholder, Zhu Shuiliang, holds 33.8924% of the company's shares, and there has been no change in the controlling shareholder during the reporting period [131]. - The actual controllers of the company are Zhu Shuiliang and Zhu Weiyi, holding a combined total of 35.8048% of the shares [132]. Financial Performance - The company achieved operating revenue of CNY 922,989,966.40, representing a growth of 5.35% compared to the same period last year [30]. - The net profit attributable to shareholders reached CNY 33,961,583.09, marking an increase of 27.88% year-over-year [30]. - The gross profit margin improved to 14.99%, up from 12.48% in the previous year [30]. - The weighted average return on equity based on net profit attributable to shareholders was 4.05%, slightly down from 4.33% in the previous year [30]. - The company's total revenue for the current period reached ¥922,989,966.40, representing a 5.35% increase compared to ¥876,120,838.27 in the previous year [51]. - The company's net profit for the current period was ¥33,961,583.09, reflecting a 27.88% increase from ¥26,556,713.11 in the previous year [51]. - The total operating revenue for the first half of 2023 reached ¥922,989,966.40, an increase of 5.0% compared to ¥876,120,838.27 in the same period of 2022 [156]. - The total profit for the first half of 2023 was ¥32,514,021.52, compared to ¥25,612,308.36 in the previous year, reflecting a growth of 27.5% [157]. Assets and Liabilities - Total assets increased by 3.63% to CNY 1,652,384,381.90, while total liabilities rose by 7.00% to CNY 821,468,781.73 [34]. - The company's cash and cash equivalents at the end of the period were ¥240,740,319.46, accounting for 14.57% of total assets, a slight decrease of 0.17% from the previous year [45]. - Accounts receivable increased by 5.57% to ¥683,558,824.94, compared to ¥647,463,656.31 in the previous year [45]. - The company's inventory rose by 9.02% to ¥360,109,758.04, up from ¥330,326,163.02 in the previous year [45]. - The total assets as of June 30, 2023, amounted to ¥1,759,760,282.25, up from ¥1,706,745,711.03 at the end of 2022, reflecting a growth of approximately 3.1% [153]. - Total liabilities increased to ¥894,891,994.38 as of June 30, 2023, compared to ¥850,465,785.20 at the end of 2022, representing a rise of about 5.2% [154]. Research and Development - The company has developed new products, including the "220kV cross-linked polyethylene insulated composite smooth aluminum sheath power cable" and "330kV cross-linked polyethylene insulated composite smooth aluminum sheath power cable technology," which have been recognized as internationally leading [40]. - Research and development expenses increased by 24.33% to ¥36,261,749.90, reflecting the company's commitment to innovation [51]. - The company plans to enhance R&D capabilities and introduce specialized talent to improve innovation and competitiveness in high-pressure and special cable products [75]. - The company has incurred significant research and development expenses, indicating a focus on innovation and future growth [181]. Market and Product Development - The company launched a mineral insulated cable construction project on May 7, 2023, marking the start of a new initiative aimed at enhancing "smart" manufacturing innovation [7]. - The company is focusing on smart manufacturing and has implemented an industrial interconnection MES system to enhance production efficiency and quality [41]. - The company aims to enhance its market position in the rapidly growing sectors of new energy, rail transit, and smart grids, driven by national policies and infrastructure investments [44]. - The company has established five new energy teams and added eight new clients in Jiangsu, enhancing its market presence in the new energy sector [40]. Social Responsibility and Community Engagement - The company donated CNY 1 million to the Pinghu Education Public Welfare Fund in 2022, supporting local education initiatives [71]. - The company has created suitable job positions for over 100 disabled individuals, ensuring their legal rights and stable employment [71]. - The company has been recognized as a green enterprise in Zhejiang Province, with no environmental pollution incidents reported [72]. - The company has maintained a commitment to social responsibility, receiving multiple awards for its contributions to charity and community development [70]. Risk Management and Compliance - The company emphasizes the importance of risk awareness regarding forward-looking statements in its reports [14]. - The company has not faced any delisting risks as confirmed in the risk assessment section of the report [16]. - The company acknowledges the seasonal nature of its business, with typically stronger performance in the second half of the year due to project bidding cycles [75]. - The company aims to mitigate risks from raw material price fluctuations by actively analyzing market trends and utilizing hedging strategies [75]. - The company has committed to ensuring compliance with financial regulations, ongoing since 2015 [89]. Financial Commitments and Guarantees - The company has provided external guarantees totaling ¥20,000,000, with a remaining balance of ¥19,800,000 [82]. - The company has no guarantees provided for shareholders or related parties, maintaining a risk-free position in this regard [83]. - The company has provided guarantees for its wholly-owned subsidiaries, ensuring their financing needs are met without compromising financial stability [83]. - The company has no guarantees exceeding 50% of net assets, indicating a conservative approach to financial leverage [82]. Shareholder Commitments - The controlling shareholders have pledged not to engage in any business that competes directly or indirectly with the company [92]. - The company has commitments from its board members and senior management to avoid conflicts of interest and ensure compliance with legal and regulatory requirements [95]. - The company has committed to a robust profit distribution policy, particularly regarding cash dividends, to ensure investor rights are protected [113]. - The company has pledged to stabilize stock prices and avoid fraudulent issuance, with commitments in place since 2021 [89].

证券代码：834639 证券简称：晨光电缆 公告编号：2023-063 序号 持有人名称 持有人类别 持股数量（股） 持股比例 （%） 1 朱水良 境内自然人 68,457,112 33.9569 2 凌忠根 境内自然人 20,285,574 10.0623 3 王会良 境内自然人 9,895,365 4.9084 4 王善良 境内自然人 6,610,923 3.2792 5 平湖创信投资管理 合伙企业（有限合 伙） 境内非国有法人 3,240,000 1.6071 一、2023年8月11日登记在册的前十大股东持股情况 | | 明鹤私募基金管理 | | | | | --- | --- | --- | --- | --- | | | （杭州）有限公司 | | | | | 6 | －明鹤－千恒弘远 | 基金、理财产品 | 3,240,000 | 1.6071 | | | 23号私募证券投资 | | | | | | 基金 | | | | | 7 | 杨友良 | 境内自然人 | 2,971,196 | 1.4738 | | 8 | 周爱良 | 境内自然人 | 2,720,520 | 1.3495 | | | 深圳市丹 ...

Financial Performance - Operating revenue for Q1 2023 was CNY 440,563,101.88, representing a 44.31% increase year-over-year[11] - Net profit attributable to shareholders for Q1 2023 was CNY 25,534,911.26, a significant increase of 486.08% compared to the same period last year[11] - The gross margin increased by 3.91 percentage points year-over-year, driven by higher revenue from high-margin products[13] - Total revenue for Q1 2023 reached ¥440,563,101.88, a significant increase of 44.3% compared to ¥305,297,454.01 in Q1 2022[42] - Operating profit for Q1 2023 was ¥25,483,459.08, up from ¥4,203,664.93 in Q1 2022, reflecting a growth of 505.5%[43] - Net profit for Q1 2023 was ¥25,534,911.26, compared to ¥4,356,875.97 in Q1 2022, representing an increase of 487.5%[44] Assets and Liabilities - Total assets as of March 31, 2023, reached CNY 1,658,422,554.86, an increase of 4.00% compared to the end of 2022[11] - The company's current assets totaled ¥1,419,588,686.65, up from ¥1,353,720,622.21, indicating an increase of about 4.9%[34] - Total liabilities amounted to ¥806,066,959.80, compared to ¥767,747,414.62, reflecting an increase of approximately 5.0%[36] - Total assets as of March 31, 2023, amounted to ¥1,764,279,219.39, up from ¥1,706,745,711.03 at the end of 2022, indicating a growth of 3.4%[40] - Total liabilities increased to ¥880,102,527.20 as of March 31, 2023, compared to ¥850,465,785.20 at the end of 2022, marking a rise of 3.5%[40] Cash Flow - The company's cash flow from operating activities improved, with a net cash flow of -CNY 103,899,935.23, a 30.13% improvement from the previous year[11] - Cash flow from financing activities increased by 2,216.59% year-over-year, primarily due to a rise in short-term borrowings[16] - Cash and cash equivalents at the end of Q1 2023 totaled CNY 159.20 million, compared to CNY 80.12 million at the end of Q1 2022[50] - Total cash inflow from financing activities in Q1 2023 was CNY 123.75 million, an increase from CNY 78.50 million in Q1 2022[50] - Cash outflow for financing activities decreased to $51.55 million from $75.26 million[53] Shareholder Information - The total number of unrestricted shares increased from 70,415,085 to 81,210,918, representing a rise from 37.72% to 43.51% of total shares[20] - The largest shareholder, Zhu Shuiliang, holds 63,236,507 shares, accounting for 33.88% of total shares, an increase of 617,838 shares[22] - The total number of shareholders with more than 5% ownership is 10, holding a combined 112,581,932 shares, which is 60.31% of total shares[23] Research and Development - Research and development expenses rose by 54.61% year-over-year, reflecting the company's commitment to enhancing product innovation and competitiveness[14] - Research and development expenses for Q1 2023 were ¥15,837,299.69, up from ¥10,243,419.89 in Q1 2022, showing a growth of 55.4%[43] - Research and development expenses increased to CNY 15.84 million in Q1 2023, representing a 55.4% rise from CNY 10.24 million in Q1 2022[46] Legal and Compliance - There were no significant legal disputes or arbitration matters reported during the period[26] - The company has timely disclosed all necessary information regarding external guarantees and related party transactions[26] - The company reported a maximum balance of related deposits of ¥26,893,500.00 during the reporting period[28] - The company has not engaged in any share buyback activities during the reporting period[26] - The company reported no instances of being investigated or penalized during the period[26]

Company Listing and Recognition - The company successfully listed on the Beijing Stock Exchange on July 12, 2022, after receiving approval from the China Securities Regulatory Commission for public stock issuance[5]. - The company was recognized as a "hidden champion" enterprise in Zhejiang Province for 2022, highlighting its competitive position in the market[7]. - The company is recognized as a provincial-level "specialized, refined, distinctive, and innovative" enterprise and a national high-tech enterprise[44]. - The company has been recognized for its charitable contributions and commitment to social welfare, receiving the "Charity Loving Enterprise" title[105]. Financial Performance - The company's operating revenue for 2022 was ¥1,864,757,979.72, a decrease of 11.84% compared to ¥2,115,299,887.18 in 2021[30]. - The net profit attributable to shareholders of the listed company was ¥57,642,688.72, down 4.83% from ¥60,566,815.58 in the previous year[30]. - The gross profit margin improved to 12.88% in 2022 from 11.06% in 2021[30]. - The weighted average return on equity based on net profit attributable to shareholders was 8.24%, down from 10.62% in 2021[30]. - The basic earnings per share decreased by 17.78% to 0.37 from 0.45 in the previous year[30]. - The net profit attributable to shareholders was 57,642,688.72 CNY, down by 1.90% from the preliminary earnings report[35]. Assets and Liabilities - As of December 31, 2022, the company's accounts receivable amounted to ¥647,463,656.31, accounting for 47.83% of current assets, indicating a high proportion of receivables[14]. - Total assets at the end of 2022 amounted to 1,594,568,098.42 CNY, reflecting a growth of 0.96% year-over-year[32]. - Total liabilities decreased by 21.56% to 767,747,414.62 CNY at the end of 2022[32]. - The net assets attributable to shareholders increased by 37.68% to 826,820,683.80 CNY[32]. - The company's cash and cash equivalents decreased by 25.78% to ¥241,149,274.64, while accounts receivable increased by 6.27% to ¥647,463,656.31[53]. Research and Development - The company aims to enhance its R&D capabilities and introduce specialized talent to improve innovation and address structural contradictions in product offerings[14]. - The company holds 43 patents, including 22 invention patents, demonstrating a strong focus on technology development[41]. - The company’s R&D expenditure for the year 2022 amounted to ¥62,813,436.77, representing 3.37% of total revenue, an increase from 3.21% in the previous year[90]. - The total number of R&D personnel increased to 48, accounting for 8.45% of the total workforce, up from 7.75% the previous year[91]. - The company is currently developing several new products, including high-voltage power cables, with expected performance levels reaching international standards[94]. Market Strategy and Product Development - The company plans to actively explore the smart cable and new energy cable markets, focusing on quality, cost, and service to expand its market share[14]. - The company plans to continuously develop and launch new products to diversify its product structure and reduce seasonal sales volatility[6]. - The company is focusing on expanding its product range and improving its core competitiveness through innovative R&D efforts[94]. - The company is expanding its product range with the introduction of new cable types, which is anticipated to enhance market competitiveness and sales[95]. Risk Management - The company has established measures to mitigate risks associated with accounts receivable, with over 75% of receivables being less than one year old[14]. - The company is committed to improving corporate governance to protect the interests of minority shareholders against potential risks from actual controllers[14]. - The company has implemented key internal controls related to accounts receivable impairment, ensuring compliance with accounting policies and accurate revenue recognition[99]. - The company is actively working to mitigate risks related to raw material price volatility through hedging strategies and market analysis[118]. Corporate Governance and Compliance - The company has established rules to enhance corporate governance and protect minority shareholders' interests amid risks associated with actual controllers' decision-making[119]. - The company has no violations of commitments reported during the reporting period[175]. - The company has committed to publicly disclose reasons for not implementing stock price stabilization measures and apologize to shareholders if conditions for such measures are not met[166]. Shareholder Commitments and Stock Management - The controlling shareholders and actual controllers have pledged to not utilize their positions to harm the interests of the company and its shareholders[148]. - The company has committed to reducing and regulating related party transactions to avoid fund occupation[1]. - The controlling shareholder has committed to not selling any shares purchased under the stabilization plan for 6 months after the completion of the purchase[158]. - The company plans to repurchase shares to stabilize the stock price, with the repurchase amount not exceeding 30% of the previous fiscal year's net profit attributable to shareholders[161]. Social Responsibility and Environmental Commitment - The company has been recognized for its social responsibility efforts, receiving awards such as the Zhejiang Province Charity Award and being named the most socially responsible enterprise in Jiaxing City[104]. - The company provided suitable job positions for over 100 disabled individuals, ensuring stable employment and compliance with national labor laws[105]. - The company was recognized as a "Green Enterprise" in Zhejiang Province, having established an environmental management system with no pollution incidents[106].

Financial Performance - The company's operating revenue for 2022 was CNY 1,864,757,979.72, a decrease of 11.84% compared to the previous year[3] - The net profit attributable to shareholders was CNY 58,735,515.05, down 3.02% year-on-year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 53,473,076.38, a decrease of 4.45% from the previous year[3] - Basic earnings per share decreased by 17.78% to CNY 0.37[3] Assets and Equity - Total assets at the end of the reporting period were CNY 1,594,458,711.78, an increase of 0.96% from the beginning of the period[3] - Shareholders' equity attributable to the company increased by 37.86% to CNY 827,913,510.13[3] - The company's share capital increased by 33.33% to CNY 186,666,667.00 during the reporting period[3] Operational Challenges - The decline in revenue was primarily due to delays in order deliveries caused by frequent domestic COVID-19 outbreaks and supply chain disruptions[5] Strategic Focus - The company is focused on cost control and improving gross profit margins to ensure sustainable and stable development[4] Financial Disclaimer - The financial data presented is preliminary and subject to audit, emphasizing the need for cautious investment decisions[6]

Financial Performance - The company achieved a revenue of ¥876,120,838.27, a slight increase of 0.09% compared to the same period last year [29]. - The net profit attributable to shareholders reached ¥26,556,713.11, representing a significant increase of 108.17% year-over-year [29]. - The gross profit margin improved to 12.48%, up from 9.37% in the previous year [29]. - Operating revenue for the period was 876,120,838.27 CNY, a slight increase of 0.09% compared to the previous year, while gross profit margin improved to 12.48% from 9.37% [53]. - Net profit increased by 13,799,323.16 CNY, representing a growth of 108.17%, primarily due to stable copper prices and improved gross margins [56]. - The company reported a comprehensive income total of 26,556,713.11 for the first half of 2022, which is a positive change compared to the previous period [176]. Assets and Liabilities - Total assets decreased by 0.42% to ¥1,572,674,083.28, while total liabilities decreased by 3.40% to ¥945,563,275.75 [30]. - The company reported a total asset value of approximately ¥1.57 billion, slightly down from ¥1.58 billion at the end of 2021 [157]. - The company’s non-current assets totaled approximately ¥240.1 million, down from ¥246.4 million, indicating a decrease of about 2.6% [156]. - The company has a total of restricted assets valued at ¥511,464,980.15, accounting for 32.53% of total assets [125]. - Cash and cash equivalents are restricted as a guarantee for bank financing, amounting to ¥85,838,395.76, which is 5.46% of total assets [125]. - Accounts receivable are pledged for bank financing, totaling ¥91,990,794.05, representing 5.85% of total assets [125]. - Inventory is mortgaged for bank financing, with a value of ¥186,461,950.50, making up 11.86% of total assets [125]. Accounts Receivable Management - As of June 30, 2022, the company's accounts receivable amounted to ¥640,248,788.98, accounting for 48.05% of current assets [12]. - The company has a good quality of accounts receivable, with over 90% of receivables being within one year [12]. - The company has established measures to mitigate risks associated with accounts receivable collection, including legal actions for overdue payments [12]. - Accounts receivable increased by 5.08% to ¥640.2 million, up from ¥609.3 million in the previous year [50]. - Accounts receivable decreased by 18,253,540.04 CNY, a reduction of 79.44%, due to improved collection management and reduced reliance on commercial acceptance bills for settlements [51]. Market and Product Development - The company aims to enhance its R&D capabilities and introduce specialized talent to improve innovation and competitiveness in high-pressure and special cable products [11]. - The company plans to continuously develop and launch new products to diversify its product structure and mitigate seasonal sales volatility [13]. - The company aims to expand into new markets and enrich its customer base to reduce seasonal fluctuations caused by construction environment impacts [13]. - The company is focusing on digital transformation and information management to improve operational efficiency [44]. - The company is actively pursuing market expansion through mergers and acquisitions to enhance product structure and industry competitiveness [45]. Financial Management and Capital Structure - The company is actively seeking equity financing to optimize its capital structure while ensuring capital quality [13]. - The company raised a total of ¥200,666,668.10 from the public offering of 46,666,667 shares at a price of ¥4.30 per share, netting ¥168,623,900.66 after expenses [24]. - The company's registered capital increased from ¥140,000,000.00 to ¥186,666,667.00 following the public offering [24]. - The company is focused on improving internal management and accelerating receivables collection to lower the ratio of restricted assets [13]. - The company aims to enhance profitability and asset quality to protect shareholder interests, especially for minority shareholders [117]. Risk Management - The company is exposed to risks from raw material price fluctuations, particularly copper and aluminum, which directly impact production costs and profitability [11]. - The company aims to mitigate risks from raw material price fluctuations, as copper and aluminum account for approximately 80% of production costs [74]. - The company has established an environmental management system and has not experienced any pollution incidents, earning recognition as a green enterprise [73]. - The company has not experienced significant changes in major risks during the reporting period [13]. Corporate Governance and Shareholder Commitments - The actual controller holds 47.2194% of the company's shares, which poses a risk of improper control over company decisions that may not align with minority shareholders' interests [75]. - The company has established rules for shareholder meetings and board meetings to improve governance and protect minority shareholders' interests [76]. - The company has committed to compensating investors for any losses due to false statements in the prospectus [120]. - The controlling shareholder committed not to interfere with the company's management and will bear compensation responsibilities for any losses caused [118]. - The company has ongoing commitments to stabilize stock prices and prevent fraudulent issuance of shares, with measures in place to ensure compliance [96]. Social Responsibility - The company has been recognized for its social responsibility efforts, receiving the title of "Most Beautiful Assistance Team" in Pinghu City in May 2022 [6]. - The company has actively engaged in social responsibility initiatives, including job creation for over 100 welfare personnel and regular charitable donations [72]. Research and Development - The company holds 39 patents, including 18 invention patents, demonstrating its commitment to technological innovation [36]. - Research and development expenses rose to ¥29,166,053.50, up from ¥28,128,191.57 in the first half of 2021, indicating a focus on innovation [166]. Seasonal Performance - The company's sales revenue shows significant seasonal fluctuations, with the first quarter contributing a lower percentage and the fourth quarter being relatively higher, indicating a risk of seasonal performance volatility [13]. - The company operates in a seasonal industry, with better performance expected in the second half of the year [191].