浙江泰鸿万立科技股份有限公司 章 程 （草案） 二零二四年一月 1 | 第一章 总 则 3 | | --- | | 第二章 经营宗旨和范围 4 | | 第三章 股份 4 | | 第一节 股份发行 4 | | 第二节 股份增减和回购 6 | | 第三节 股份转让 7 | | 第四章 股东和股东大会 8 | | 第一节 股东 8 | | 第二节 股东大会的一般规定 10 | | 第三节 股东大会的召集 12 | | 第四节 股东大会的提案与通知 13 | | 第五节 股东大会的召开 15 | | 第六节 股东大会的表决和决议 18 | | 第五章 董事会 23 | | 第一节 董事 23 | | 第二节 董事会 26 | | 第六章 经理及其他高级管理人员 32 | | 第七章 监事会 34 | | 第一节 监事 34 | | 第二节 监事会 35 | | 第八章 财务会计制度、利润分配和审计 36 | | 第一节 财务会计制度 36 | | 第二节 内部审计 40 | | 第三节 会计师事务所的聘任 40 | | 第九章 通知和公告 40 | | 第一节 通知 40 | | 第二节 公告 41 | | 第十章 ...

Core Viewpoint - 泰鸿万立 is initiating its IPO with a price of 8.60 yuan per share and a PE ratio of 18.60 times, focusing on the automotive structural and functional components market [1] Company Overview - 泰鸿万立 specializes in the R&D, production, and sales of automotive structural and functional components, which are essential parts of vehicle bodies and chassis [1] - The company has established itself as a primary supplier for several well-known domestic and international automotive manufacturers, including 吉利汽车, 长城汽车, and 沃尔沃 [1] Financial Performance - In the fiscal years 2021, 2022, and 2023, the company reported revenues of approximately 1.01 billion yuan, 1.48 billion yuan, and 1.54 billion yuan respectively [2] - Net profits for the same years were approximately 85.38 million yuan, 131 million yuan, and 162 million yuan [2] Key Financial Metrics - As of June 30, 2024, total assets amounted to 1.93 billion yuan, with equity attributable to shareholders at 941.84 million yuan [3] - The company's asset-liability ratio decreased from 57% in 2022 to 50.55% in mid-2024 [3] - Revenue for the first half of 2024 was reported at 738.25 million yuan, with a net profit of 65.92 million yuan [3] Growth Trends - The company experienced significant revenue growth in 2021 and 2022, with increases of 67.58% and 46.13% respectively, but the growth rate slowed to 4.50% in 2023 due to market changes and increased competition [3]

Core Viewpoint - The upcoming IPOs in the A-share market, particularly for Taihong Wanli, present a favorable investment opportunity due to the low issuance price and the historical performance of new stocks in the market [1][3]. Company Overview - Taihong Wanli, headquartered in Taizhou, Zhejiang, specializes in the research, production, and sales of automotive structural and functional components [5][6]. - The company was established in August 2005 and became a joint-stock company in July 2017, with major shareholders being Ying Zhengcai and Ying Lingmin, holding a combined 37.35% of shares [6]. - Taihong Wanli's products are critical components in automotive manufacturing, with a significant market presence among major automotive manufacturers such as Geely, Great Wall, and Volvo [6][9]. Financial Performance - The company's revenue for the years 2021 to 2023 was reported at 1.01 billion yuan, 1.48 billion yuan, and 1.54 billion yuan, respectively, with a compound annual growth rate (CAGR) of 23.57% [11]. - For the first half of 2024, Taihong Wanli achieved a revenue of 738 million yuan, with a projected full-year revenue of 1.689 billion yuan, reflecting a year-on-year growth of 9.35% [12]. - The net profit attributable to the parent company for 2024 is expected to be 170 million yuan, representing an 8.03% increase year-on-year [12]. Market Position - Taihong Wanli's market share in the passenger car structural components for the first half of 2024 includes 3.1% for front floor structural components and 4.6% for rear floor structural components [9][10]. - The company has a high customer concentration, with significant revenue dependence on Geely and Great Wall, accounting for 35.91% and 51.64% of total revenue, respectively [15]. Industry Context - The A-share market has shown a strong performance for new listings, with an average first-day gain of 246.92% for 26 new stocks listed in 2025 [2]. - The low initial public offering (IPO) price of Taihong Wanli at 8.6 yuan per share, with a price-to-earnings ratio of 18.6, is below the industry average, making it an attractive investment option [1].

Group 1 - The new stock market shows a significant recovery in "profit-making effect," with an average first-day increase of 318% for four new stocks this week [1] - Hongjing Optoelectronics saw a first-day increase of 282.03%, with a single subscription profit close to 60,000 yuan, while Jiangnan New Materials surged 606.83%, marking the highest first-day increase for new stocks this year, with a single subscription profit of approximately 32,000 yuan [1] - Next week, three new stocks are scheduled for subscription, including Shihang New Energy, which is a leading global supplier of photovoltaic inverters [1][4] Group 2 - Shihang New Energy focuses on the research, production, sales, and service of new energy power equipment, specializing in solar energy conversion, storage, and management [5] - The company’s core products include string photovoltaic grid-connected inverters, photovoltaic energy storage inverters, storage batteries, and photovoltaic system accessories [5] - Shihang New Energy expects a net profit of 49 million to 55 million yuan for Q1 2025, with a year-on-year change of -0.10% to 12.14% [6] Group 3 - China Ruilin, established in 1957, is a key design unit in the non-ferrous metal industry, providing engineering design consulting and total contracting services [9] - The company serves major state-owned enterprises and large corporate groups in China, including China Nonferrous Mining, State Power Investment, and China Copper [1] - China Ruilin anticipates a net profit of 8.5 million to 11 million yuan for Q1 2025, with a year-on-year change of -0.16% to 29.21% [10] Group 4 - Taihong Wanli has over 20 years of experience in the automotive parts sector and has become a first-tier supplier for several well-known domestic and international automotive manufacturers [2] - The company actively collaborates with leading companies in the new energy vehicle sector, including NIO, Li Auto, and Xpeng Motors, and is a partner of major component suppliers like CATL [2] - Taihong Wanli projects a net profit of 38.8 million to 43.5 million yuan for Q1 2025, reflecting a year-on-year growth of 2.89% to 15.35% [11]