9月1日，西大门涨5.04%，截至发稿，报14.80元/股，成交5491.34万元，换手率1.99%，总市值28.31亿 元。 资料显示，浙江西大门新材料股份有限公司位于浙江省绍兴市柯桥区兰亭镇阮港村，成立日期1997年12 月22日，上市日期2020年12月31日，公司主营业务涉及功能性遮阳材料的研发、生产和销售。主营业务 收入构成为：遮阳面料57.11%，遮阳成品39.72%，其他2.02%，其他(补充)1.14%。 从西大门十大流通股东角度 数据显示，诺安基金旗下1只基金位居西大门十大流通股东。诺安多策略混合A（320016）二季度新进 十大流通股东，持有股数84.02万股，占流通股的比例为0.44%。根据测算，今日浮盈赚取约59.65万 元。 诺安多策略混合A（320016）成立日期2011年8月9日，最新规模13.99亿。今年以来收益57.82%，同类 排名426/8254；近一年收益118.35%，同类排名202/8037；成立以来收益204.6%。 诺安多策略混合A（320016）基金经理为孔宪政、王海畅。 截至发稿，孔宪政累计任职时间4年280天，现任基金资产总规模46.07亿元，任职期间最佳 ...

Core Viewpoint - The recent financial report of Xidamen (605155) shows a solid performance with a revenue increase of 14.51% year-on-year, although the net profit growth is modest at 1.45% [1] Financial Performance - Total revenue for the first half of 2025 reached 419 million yuan, up from 366 million yuan in the same period of 2024, marking a 14.51% increase [1] - The net profit attributable to shareholders was 55.8 million yuan, compared to 55.0 million yuan in 2024, reflecting a 1.45% increase [1] - In Q2 2025, revenue was 232 million yuan, a 15.47% increase year-on-year, while net profit for the quarter was 32.8 million yuan, up 3.36% [1] - Gross margin improved to 44.6%, an increase of 7.53% year-on-year, while net margin decreased to 13.31%, down 11.4% [1] - The total of selling, administrative, and financial expenses reached 108 million yuan, accounting for 25.86% of total revenue, which is a 37.11% increase compared to the previous year [1] Key Financial Ratios - The company's return on invested capital (ROIC) was 8.51% last year, indicating average capital returns [1] - Historical data shows a median ROIC of 10.01% since the company went public, with the lowest ROIC recorded in 2023 at 6.33% [1] - Earnings per share remained stable at 0.29 yuan, while operating cash flow per share increased significantly by 83.57% to 0.51 yuan [1] Business Model - The company's performance is primarily driven by marketing efforts, necessitating a thorough examination of the underlying factors behind this drive [2] Fund Holdings - The largest fund holding Xidamen shares is Huaxia Juhui (FOF) A, which holds 7,100 shares and has not changed its position [3]

Fundraising Overview - The company raised a total of RMB 50,808.00 million by issuing 24 million shares at RMB 21.17 per share, with net proceeds amounting to RMB 45,590.88 million after deducting various fees [2][4] - As of June 30, 2025, the company had utilized RMB 1,670.85 million of the raised funds, leaving a balance of RMB 0 million [3][4] Fund Management - The company has established a dedicated fund management system in compliance with relevant laws and regulations, including a special account for the raised funds [3][4] - A tripartite supervision agreement was signed with banks and the underwriter to ensure proper management of the funds [3] Fund Usage - All raised funds have been used for the intended projects, with no abnormal situations reported regarding the investment projects [5][7] - The company did not experience any changes in the implementation location or method of the fundraising projects during the reporting period [5][6] Financial Reporting - The board of directors approved the special report on the storage and usage of the raised funds, which was reviewed by the audit committee [15][16] - The company confirmed that there were no significant issues in the usage and disclosure of the raised funds during the reporting period [9]

格隆汇8月29日丨西大门(605155.SH)发布中报，2025上半年实现营业总收入4.19亿元，同比增长 14.51%；归属母公司股东净利润5580.46万元，同比增长1.45%；基本每股收益为0.29元。 ...

证券代码：605155 证券简称：西大门 公告编号：2025-032 浙江西大门新材料股份有限公司 第四届董事会第二次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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责任。 一、董事会会议召开情况 浙江西大门新材料股份有限公司（以下简称"公司"） 第四届董事会第二次 会议于 2025 年 8 月 29 日以现场方式召开，会议通知已于 2025 年 8 月 22 日通过 专人送达及邮件方式等送达全体董事。本次会议由董事长柳庆华主持，应出席董 事 9 名，实际出席董事 9 名。本次会议的召开符合《中华人民共和国公司法》等 法律、行政法规以及《公司章程》的规定，决议内容合法有效。 二、董事会会议审议情况 表决结果：9 票同意；0 票反对；0 票弃权。 （二）审议通过了《关于<2025 年半年度募集资金存放与使用情况的专项报告> 的议案》 本议案已经审计委员会审议通过，并同意提交董事会审议。 具 体 内 容 详 见 公 司 于 2025 年 8 月 30 日 在 上 海 证 券 交 易 所 网 站 浙江西大门新材料股份有限 ...

[Glossary](index=4&type=section&id=%E7%AC%AC%E4%B8%80%E8%8A%82%20%E9%87%8A%E4%B9%89) This section defines common terms, company information, reporting periods, and key subsidiaries to ensure clarity and consistency [Definitions of Common Terms](index=4&type=section&id=%E5%B8%B8%E7%94%A8%E8%AF%8D%E8%AF%AD%E9%87%8A%E4%B9%89) The company defined common terms, including company name, organizational structure, reporting period, major subsidiaries, and industry terms, for clear and consistent disclosure - Defines "Company/This Company/Xidamen" as Zhejiang Xidamen New Materials Co., Ltd[12](index=12&type=chunk) - Defines "Reporting Period" as January 1, 2025, to June 30, 2025[12](index=12&type=chunk) - Lists major subsidiaries such as Xidamen Home, Xidamen E-commerce, XM Singapore, and XM US[12](index=12&type=chunk) - Explains industry terms like water-based acrylic, PVC, polyester fiber, warping, weaving, finishing, and coating[12](index=12&type=chunk) [Company Profile and Key Financial Indicators](index=5&type=section&id=%E7%AC%AC%E4%BA%8C%E8%8A%82%20%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B%E5%92%8C%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) This section provides an overview of the company's basic information, contact details, stock profile, and key financial performance metrics for the reporting period [Company Information](index=5&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E4%BF%A1%E6%81%AF) Zhejiang Xidamen New Materials Co., Ltd. (Xidamen) is a functional shading material manufacturer, with Liu Qinghua as its legal representative - Company's Chinese Name: Zhejiang Xidamen New Materials Co., Ltd[14](index=14&type=chunk) - Company's Chinese Abbreviation: Xidamen[14](index=14&type=chunk) - Legal Representative: Liu Qinghua[14](index=14&type=chunk) [Contact Person and Information](index=5&type=section&id=%E4%BA%8C%E3%80%81%E8%81%94%E7%B3%BB%E4%BA%BA%E5%92%8C%E8%81%94%E7%B3%BB%E6%96%B9%E5%BC%8F) Discloses contact information for Board Secretary Dong Yuting and Securities Affairs Representative Liu Yan, including address, phone, fax, and email, to facilitate investor communication - Board Secretary: Dong Yuting[15](index=15&type=chunk) - Securities Affairs Representative: Liu Yan[15](index=15&type=chunk) - Contact Address: Rungang Village, Lanting Town, Keqiao District, Shaoxing City, Zhejiang Province[15](index=15&type=chunk) - Phone: 0575-84600929[15](index=15&type=chunk) - Email: xidamen@xidamen.com[15](index=15&type=chunk) [Brief Introduction to Changes in Basic Information](index=5&type=section&id=%E4%B8%89%E3%80%81%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5%E5%8F%98%E6%9B%B4%E7%AE%80%E4%BB%8B) The company's registered and office addresses are both in Rungang Village, Lanting Town, Keqiao District, Shaoxing City, Zhejiang Province, with no historical changes during the reporting period - Company Registered Address: Rungang Village, Lanting Town, Keqiao District, Shaoxing City, Zhejiang Province[16](index=16&type=chunk) - Company Office Address: Rungang Village, Lanting Town, Keqiao District, Shaoxing City, Zhejiang Province[16](index=16&type=chunk) - Company Website: www.xidamen.com[16](index=16&type=chunk) [Brief Introduction to Changes in Information Disclosure and Document Placement Locations](index=5&type=section&id=%E5%9B%9B%E3%80%81%E4%BF%A1%E6%81%AF%E6%8A%AB%E9%9C%B2%E5%8F%8A%E5%A4%87%E7%BD%AE%E5%9C%B0%E7%82%B9%E5%8F%98%E6%9B%B4%E6%83%85%E5%86%B5%E7%AE%80%E4%BB%8B) The company designates Securities Times, Shanghai Securities News, and Securities Daily as information disclosure newspapers, publishes its semi-annual report on the Shanghai Stock Exchange website (www.sse.com.cn), and keeps it available at the company's securities department - Information Disclosure Newspapers: Securities Times, Shanghai Securities News, Securities Daily[17](index=17&type=chunk) - Website for Semi-Annual Report Publication: www.sse.com.cn[17](index=17&type=chunk) - Company Semi-Annual Report Placement Location: Company Securities Department[17](index=17&type=chunk) [Company Stock Profile](index=5&type=section&id=%E4%BA%94%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E7%A5%A8%E7%AE%80%E5%86%B5) The company's A-shares are listed on the Shanghai Stock Exchange, with stock abbreviation Xidamen and stock code 605155 - Stock Type: A-shares[18](index=18&type=chunk) - Stock Exchange: Shanghai Stock Exchange[18](index=18&type=chunk) - Stock Abbreviation: Xidamen, Stock Code: 605155[18](index=18&type=chunk) [Other Relevant Information](index=5&type=section&id=%E5%85%AD%E3%80%81%E5%85%B6%E4%BB%96%E6%9C%89%E5%85%B3%E8%B5%84%E6%96%99) The company appointed Tianjian Certified Public Accountants (Special General Partnership) as its domestic accounting firm and Zheshang Securities Co., Ltd. as its sponsor, with the continuous supervision period extending to December 31, 2023 - Domestic Accounting Firm Appointed by the Company: Tianjian Certified Public Accountants (Special General Partnership)[19](index=19&type=chunk) - Sponsor Fulfilling Continuous Supervision Responsibilities During the Reporting Period: Zheshang Securities Co., Ltd[20](index=20&type=chunk) - Period of Continuous Supervision: December 31, 2020, to December 31, 2023[20](index=20&type=chunk) [Company's Key Accounting Data and Financial Indicators](index=6&type=section&id=%E4%B8%83%E3%80%81%E5%85%AC%E5%8F%B8%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) During the reporting period, the company's operating revenue increased by 14.51% to 419.22 million yuan, net profit attributable to the parent company increased by 1.45% to 55.80 million yuan, and net cash flow from operating activities significantly grew by 83.45% Key Accounting Data for H1 2025 | Key Accounting Data | Current Period (Jan-Jun) | Prior Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (yuan) | 419,221,716.09 | 366,100,561.38 | 14.51 | | Total Profit (yuan) | 64,647,979.83 | 61,774,777.07 | 4.65 | | Net Profit Attributable to Shareholders (yuan) | 55,804,587.80 | 55,006,778.72 | 1.45 | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) (yuan) | 50,868,905.88 | 53,843,134.22 | -5.52 | | Net Cash Flow from Operating Activities (yuan) | 97,433,048.10 | 53,112,384.62 | 83.45 | | | Period End | Prior Year End | Change from Prior Year End (%) | | Net Assets Attributable to Shareholders (yuan) | 1,291,848,728.65 | 1,276,833,129.22 | 1.18 | | Total Assets (yuan) | 1,389,107,403.74 | 1,384,909,341.47 | 0.30 | Key Financial Indicators for H1 2025 | Key Financial Indicators | Current Period (Jan-Jun) | Prior Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Basic EPS (yuan/share) | 0.29 | 0.29 | 0.00 | | Diluted EPS (yuan/share) | 0.29 | 0.29 | 0.00 | | Basic EPS (Excluding Non-Recurring Items) (yuan/share) | 0.27 | 0.28 | -3.57 | | Weighted Average ROE (%) | 4.30 | 4.49 | Decrease of 0.19 percentage points | | Weighted Average ROE (Excluding Non-Recurring Items) (%) | 3.92 | 4.40 | Decrease of 0.48 percentage points | [Differences in Accounting Data Under Domestic and Overseas Accounting Standards](index=6&type=section&id=%E5%A2%83%E5%86%85%E5%A4%96%E4%BC%9A%E8%AE%A1%E5%87%86%E5%88%99%E4%B8%8B%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%B7%AE%E5%BC%82) During the reporting period, there were no differences in accounting data under domestic and overseas accounting standards - The company has no differences in accounting data under domestic and overseas accounting standards[24](index=24&type=chunk) [Non-Recurring Gains and Losses Items and Amounts](index=6&type=section&id=%E4%B9%9D%E3%80%81%E9%9D%9E%E5%B8%B8%E8%A7%84%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%92%8C%E9%87%91%E9%A2%9D) During the reporting period, the company's total non-recurring gains and losses amounted to 4.94 million yuan, primarily from gains/losses on entrusted investments and government subsidies Non-Recurring Gains and Losses Items for H1 2025 | Non-Recurring Gains and Losses Item | Amount (yuan) | Notes (if applicable) | | :--- | :--- | :--- | | Gains/Losses on Disposal of Non-Current Assets | -149,869.74 | | | Government Subsidies Included in Current Profit/Loss | 1,620,843.21 | Primarily government subsidies received | | Gains/Losses from Entrusted Investments or Asset Management | 4,399,603.00 | | | Other Non-Operating Income and Expenses | -64,489.99 | | | Less: Income Tax Impact | 870,404.56 | | | Total | 4,935,681.92 | | [Net Profit After Deducting Impact of Share-Based Payments](index=7&type=section&id=%E5%8D%81%E3%80%81%E5%AD%98%E5%9C%A8%E8%82%A1%E6%9D%83%E6%BF%80%E5%8A%B1%E3%80%81%E5%91%98%E5%B7%A5%E6%8C%81%E8%82%A1%E8%AE%A1%E5%88%92%E7%9A%84%E5%85%AC%E5%8F%B8%E5%8F%AF%E9%80%89%E6%8B%A9%E6%8A%AB%E9%9C%B2%E6%89%A3%E9%99%A4%E8%82%A1%E4%BB%BD%E6%94%AF%E4%BB%98%E5%BD%B1%E5%93%8D%E5%90%8E%E7%9A%84%E5%87%80%E5%88%A9%E6%B6%A6) During the reporting period, the company's net profit after deducting the impact of share-based payments was 57.81 million yuan, a year-on-year increase of 0.77% Net Profit After Deducting Impact of Share-Based Payments | Key Accounting Data | Current Period (Jan-Jun) | Prior Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Net Profit After Deducting Impact of Share-Based Payments (yuan) | 57,807,996.73 | 57,367,416.41 | 0.77 | [Management Discussion and Analysis](index=8&type=section&id=%E7%AC%AC%E4%B8%89%E8%8A%82%20%E7%AE%A1%E7%90%86%E5%B1%82%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) This section analyzes the company's industry, main business operations, core competencies, and key financial performance during the reporting period, along with potential risks and other significant disclosures [Industry and Main Business Overview](index=8&type=section&id=%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E6%89%80%E5%B1%9E%E8%A1%8C%E4%B8%9A%E5%8F%8A%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E6%83%85%E5%86%B5%E8%AF%B4%E6%98%8E) The company specializes in the architectural shading industry, offering functional shading materials and finished products. Global market demand is highly differentiated, with developed markets dominated by international players, while the fragmented domestic market is supported by policies promoting smart, multi-functional, and eco-friendly development, projected to reach 65 billion yuan in sales by 2030 [(I) Company's Industry](index=8&type=section&id=(%E4%B8%80)%20%E5%85%AC%E5%8F%B8%E6%89%80%E5%A4%84%E8%A1%8C%E4%B8%9A%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5) The company operates in the architectural shading industry, with its main products being functional shading materials and finished products - Company's Industry: Architectural shading industry[29](index=29&type=chunk) - Main Products: Functional shading materials and finished products[29](index=29&type=chunk) [(II) Global Industry Overview](index=8&type=section&id=(%E4%BA%8C)%20%E5%85%A8%E7%90%83%E5%BB%BA%E7%AD%91%E9%81%AE%E9%98%B3%E8%A1%8C%E4%B8%9A%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5) The global architectural shading industry is driven by increasing energy-saving awareness, with functional shading products achieving up to 70% penetration in developed countries. Market demand is highly differentiated, with developed nations seeking high-end customization and European markets preferring standardized functional products. The competitive landscape is regionally fragmented, with international giants dominating developed markets and numerous SMEs sharing non-developed markets - In 2018, global energy consumption related to building construction and operation accounted for **35% of global energy consumption**, with **39% of carbon dioxide emissions**[29](index=29&type=chunk) - Architectural shading, as a passive building energy-saving technology, can save approximately **30% of air conditioning energy** and **14% of heating energy** in the EU28 countries[29](index=29&type=chunk) - The penetration rate of functional shading products in developed countries like Europe and the US is as high as **70%**, with a replacement cycle of 3-5 years or even shorter[29](index=29&type=chunk) - Global market demand is highly differentiated; for example, the US, Canada, and Australia pursue high-end quality and customized services, while Europe focuses on window decoration functionality[30](index=30&type=chunk) - The global competitive landscape shows regional differentiation, with developed country markets primarily dominated by international manufacturers like Hunter Douglas, while non-developed country markets are fragmented among numerous small and medium-sized enterprises[30](index=30&type=chunk) [(III) Domestic Industry Overview](index=8&type=section&id=(%E4%B8%89)%20%E5%9B%BD%E5%86%85%E5%BB%BA%E7%AD%91%E9%81%AE%E9%98%B3%E8%A1%8C%E4%B8%9A%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5) The domestic architectural shading industry, supported by policies, is evolving towards intelligence, multi-functionality, and green environmental protection to achieve "dual carbon" goals. Domestic functional shading product sales are projected to reach 65 billion yuan by 2030. The industry is fragmented, but leading enterprises are highly competitive, and market concentration is expected to increase - Policy support: The state has issued the 'Catalogue of Promoted Technologies for Architectural Shading,' and the '14th Five-Year Plan' requires all new urban buildings to be green buildings by **2025**, with shading facilities added as appropriate[31](index=31&type=chunk)[32](index=32&type=chunk) - Market size: Domestic functional shading product sales reached **22.63 billion yuan in 2022**, projected to reach **65 billion yuan by 2030**[33](index=33&type=chunk) - Competitive landscape: Numerous enterprises (approximately **3,000+**), small average scale, clear market segmentation, and scarcity of high-end supply[33](index=33&type=chunk) - Industry trend: High-quality development towards intelligence, multi-functionality, and green environmental protection, with industry resources expected to concentrate towards leading enterprises in the first tier, potentially increasing market concentration[31](index=31&type=chunk)[34](index=34&type=chunk) [(IV) Main Business and Products](index=9&type=section&id=(%E5%9B%9B)%20%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%92%8C%E4%B8%BB%E8%A6%81%E4%BA%A7%E5%93%81%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5) The company is a leading domestic manufacturer of functional shading materials, specializing in R&D, production, and sales, with products exported to over 70 countries and regions worldwide. Its main products include shading fabrics and functional shading finished products, featuring sun protection, energy saving, environmental protection, mildew resistance, antibacterial properties, flame retardancy, sound insulation, and heat insulation - Company positioning: A leading domestic manufacturer of functional shading materials with extensive scale, comprehensive product range, and first-class technology[34](index=34&type=chunk) - Main products: Shading fabrics and functional shading finished products[34](index=34&type=chunk) - Product features: Possesses special properties such as sun protection, energy saving, environmental protection, mildew resistance, antibacterial, flame retardant, sound insulation, and heat insulation[34](index=34&type=chunk) - Market coverage: Products are exported to over **70 countries and regions** across six continents worldwide[34](index=34&type=chunk) [Analysis of Operating Conditions](index=9&type=section&id=%E4%BA%8C%E3%80%81%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5%E7%9A%84%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) During the reporting period, the company focused on strategic planning, increasing global market sales and overseas finished product expansion, with fundraising projects completed to support capacity. Operating revenue grew by 14.51% to 419.22 million yuan, and net profit attributable to the parent company increased by 1.45% to 55.80 million yuan, indicating continuous improvement in profitability. The company strengthened its marketing system, increased R&D investment, implemented equity incentives, and enhanced quality and safety management - As of the end of the reporting period, the company achieved operating revenue of **419.22 million yuan**, a year-on-year increase of **14.51%**[35](index=35&type=chunk) - Net profit attributable to shareholders was **55.80 million yuan**, a year-on-year increase of **1.45%**[35](index=35&type=chunk) - Fundraising projects such as the 'Annual Production of **16.5 million square meters** of New Architectural Shading Materials Project' and the 'Annual Production of **2 million square meters** of Finished Architectural Shading Products' have all been completed, providing capacity support for future sales expansion[35](index=35&type=chunk) - Strengthened marketing system construction by building a high-performance marketing team, improving the omni-channel marketing network, continuously enhancing market penetration capabilities, and expanding cross-border e-commerce business and deploying overseas warehouses[36](index=36&type=chunk)[37](index=37&type=chunk) - Continuously increased R&D investment, obtaining **2 invention patents**, **5 utility model patents**, and **21 design patents**, totaling **28 items**, and applying for **3 invention patents**[37](index=37&type=chunk) - Implemented the 2023 Restricted Stock Incentive Plan, granting restricted shares to **79 incentive recipients**, binding key company personnel, with performance assessment targets for **2023 and 2024** successfully met[38](index=38&type=chunk) - Strengthened product quality and safety production management, improved the 'Product Quality Responsibility System' and quality inspection standards, with no liability accidents occurring throughout the year[38](index=38&type=chunk)[39](index=39&type=chunk) [Analysis of Core Competencies](index=11&type=section&id=%E4%B8%89%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) The company's core competencies include industry brand advantage, strong technical strength and R&D advantage, rich product differentiation competitive advantage, integrated production advantage, experience and capability in serving global customers, and regional advantage in the Yangtze River Delta - Industry brand advantage: Products are exported to over **70 countries and regions** across six continents worldwide, relying on strong technical strength, excellent product quality, and high-quality integrated services[40](index=40&type=chunk) - Core technology and R&D advantage: Possesses a 'Zhejiang Provincial High-Tech Enterprise Research and Development Center,' with strong core technologies in material improvement, performance enhancement, process optimization, and equipment upgrades, and has introduced advanced production equipment from Germany, France, and South Korea[41](index=41&type=chunk) - Product differentiation competitive advantage: Rich and comprehensive product structure, having developed **four major categories**, **over a hundred series**, and **over a thousand products**, offering one-stop procurement services and customized solutions[42](index=42&type=chunk) - Integrated production advantage: Formed a production chain integrating granulation, monofilament coating, warping, weaving, coating, post-treatment, and finished product assembly, effectively reducing costs, improving efficiency, and increasing product yield[42](index=42&type=chunk)[43](index=43&type=chunk) - Experience and capability advantage in serving global customers: Customers are spread across over **70 countries and regions** on six continents worldwide, establishing stable cooperative relationships with internationally renowned clients such as Hunter Douglas and Vertilux[44](index=44&type=chunk) - Regional advantage: Located in the Yangtze River Delta chemical fiber industry base, relying on the mature industrial cluster effect, possessing significant advantages in supply chain, market information, R&D innovation, and market expansion[44](index=44&type=chunk) [Key Operating Conditions](index=12&type=section&id=%E5%9B%9B%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E4%B8%BB%E8%A6%81%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5) During the reporting period, the company's operating revenue increased by 14.51%, primarily due to growth in finished curtain sales. Selling expenses surged by 56.69% due to increased e-commerce platform and advertising investments, while administrative and R&D expenses slightly decreased. Net cash flow from operating activities significantly rose by 83.45%, and net cash flow from investing activities saw a substantial outflow due to increased purchases of wealth management products. The asset-liability structure remained stable, with increases in construction in progress and non-current assets [(I) Main Business Analysis](index=12&type=section&id=(%E4%B8%80)%20%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%88%86%E6%9E%90) During the reporting period, the company's operating revenue increased by 14.51%, primarily due to growth in finished curtain sales. Operating costs increased by 8.40%. Selling expenses surged by 56.69% due to increased e-commerce platform and advertising investments. Administrative and R&D expenses decreased by 9.75% and 9.54%, respectively. Net cash flow from operating activities significantly grew by 83.45% Analysis of Changes in Financial Statement Items | Item | Current Period Amount | Prior Period Amount | Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue (yuan) | 419,221,716.09 | 366,100,561.38 | 14.51 | Primarily due to increased sales of finished curtains | | Operating Cost (yuan) | 232,266,957.48 | 214,268,103.39 | 8.40 | Primarily due to increased costs in line with operating revenue growth | | Selling Expenses (yuan) | 92,651,694.10 | 59,130,660.61 | 56.69 | Primarily due to increased investment in e-commerce platforms and advertising | | Administrative Expenses (yuan) | 18,158,546.76 | 20,121,267.28 | -9.75 | Primarily due to a decrease in the number of employees | | Financial Expenses (yuan) | -2,395,050.35 | -10,201,350.54 | 76.52 | Primarily due to a decrease in interest income and exchange gains | | R&D Expenses (yuan) | 13,836,053.58 | 15,295,180.94 | -9.54 | Primarily due to a phased decline in R&D projects | | Net Cash Flow from Operating Activities (yuan) | 97,433,048.10 | 53,112,384.62 | 83.45 | Primarily due to increased operating revenue | | Net Cash Flow from Investing Activities (yuan) | -103,791,392.40 | -49,079,421.75 | Not applicable | Primarily due to increased purchases of wealth management products | | Net Cash Flow from Financing Activities (yuan) | -48,001,161.95 | -52,253,736.31 | Not applicable | Primarily due to increased dividend distribution | [(II) Changes in Non-Core Business Profit](index=13&type=section&id=(%E4%BA%8C)%20%E9%9D%9E%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E5%AF%BC%E8%87%B4%E5%88%A9%E6%B6%A6%E9%87%8D%E5%A4%A7%E5%8F%98%E5%8C%96%E7%9A%84%E8%AF%B4%E6%98%8E) During the reporting period, the company had no significant changes in profit due to non-core business activities - The company had no significant changes in profit due to non-core business activities[47](index=47&type=chunk) [(III) Asset and Liability Analysis](index=13&type=section&id=(%E4%B8%89)%20%E8%B5%84%E4%BA%A7%E3%80%81%E8%B4%9F%E5%80%BA%E6%83%85%E5%86%B5%E5%88%86%E6%9E%90) As of the end of the reporting period, the company's total assets and net assets maintained stable growth. Construction in progress significantly increased by 8454.60% to 18.31 million yuan, primarily due to increased equipment investment. Other non-current assets grew by 132.20% to 171.70 million yuan, mainly due to an increase in large-denomination certificates of deposit. Taxes payable and other payables decreased. Overseas assets accounted for 1.20% of total assets Changes in Assets and Liabilities | Item Name | Current Period End Amount | Proportion of Total Assets at Period End (%) | Prior Year End Amount | Proportion of Total Assets at Prior Year End (%) | Change from Prior Year End (%) | Explanation | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Construction in Progress (yuan) | 18,313,562.86 | 1.32 | 214,078.43 | 0.02 | 8454.60 | Primarily due to increased equipment investment | | Non-Current Assets Due Within One Year (yuan) | 0 | - | 54,990,123.44 | 3.97 | -100.00 | Primarily due to maturity and recovery of time deposits | | Other Non-Current Assets (yuan) | 171,698,454.76 | 12.36 | 73,943,165.95 | 5.34 | 132.20 | Primarily due to an increase in large-denomination certificates of deposit and a decrease in prepaid equipment | | Taxes Payable (yuan) | 8,944,613.68 | 0.64 | 15,848,124.70 | 1.14 | -43.56 | Primarily due to payment of prior period corporate income tax in the current period | | Other Payables (yuan) | 7,702,245.62 | 0.55 | 13,021,628.81 | 0.94 | -40.85 | Primarily due to a decrease in restricted stock repurchase obligations in the current period | - Overseas assets amounted to **16.70 million yuan**, accounting for **1.20% of total assets**[49](index=49&type=chunk) [(IV) Analysis of Investment Status](index=14&type=section&id=(%E5%9B%9B)%20%E6%8A%95%E8%B5%84%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) The company's board of directors approved using up to 500 million yuan of idle自有资金 for cash management, investing in highly secure and liquid financial institution products, with funds available for revolving investment within a 12-month validity period - Plans to use up to **500 million yuan** of idle自有资金 for cash management[51](index=51&type=chunk) - To be used for purchasing highly secure and liquid investment products sold by financial institutions (including but not limited to structured deposits, time deposits, large-denomination certificates of deposit)[51](index=51&type=chunk) - Valid for **12 months** from the date of board approval, with funds available for revolving investment and rolling use[51](index=51&type=chunk) [(V) Significant Asset and Equity Sales](index=14&type=section&id=(%E4%BA%94)%20%E9%87%8D%E5%A4%A7%E8%B5%84%E4%BA%A7%E5%92%8C%E8%82%A1%E6%9D%83%E5%87%BA%E5%94%AE) During the reporting period, the company had no significant asset or equity sales - The company had no significant asset or equity sales[52](index=52&type=chunk) [(VI) Analysis of Major Holding and Participating Companies](index=14&type=section&id=(%E5%85%AD)%20%E4%B8%BB%E8%A6%81%E6%8E%A7%E8%82%A1%E5%8F%82%E8%82%A1%E5%85%AC%E5%8F%B8%E5%88%86%E6%9E%90) During the reporting period, the operating performance of the company's major subsidiaries, Xidamen Home and Xidamen E-commerce, diverged, with Xidamen Home incurring losses and Xidamen E-commerce being profitable. The newly established subsidiary Yuefenghua had no significant impact on overall production, operations, and performance Financial Status of Major Subsidiaries | Company Name | Company Type | Main Business | Registered Capital (yuan) | Total Assets (yuan) | Net Assets (yuan) | Operating Revenue (yuan) | Operating Profit (yuan) | Net Profit (yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Xidamen Home | Subsidiary | Furniture sales | 20,000,000 | 752,571.04 | 721,276.98 | 67,625.17 | -62,384.94 | -58,995.19 | | Xidamen E-commerce | Subsidiary | Internet sales | 2,000,000 | 984,480.49 | 919,155.93 | 813,263.69 | 65,549.93 | 62,265.77 | - The newly established subsidiary Yuefenghua had no significant impact on overall production, operations, and performance[54](index=54&type=chunk) [(VII) Structured Entity Information](index=15&type=section&id=(%E4%B8%83)%20%E5%85%AC%E5%8F%B8%E6%8E%A7%E5%88%B6%E7%9A%84%E7%BB%93%E6%9E%84%E5%8C%96%E4%B8%BB%E4%BD%93%E6%83%85%E5%86%B5) During the reporting period, the company had no controlled structured entities - The company had no controlled structured entities[54](index=54&type=chunk) [Other Disclosure Matters](index=15&type=section&id=%E4%BA%94%E3%80%81%E5%85%B6%E4%BB%96%E6%8A%AB%E9%9C%B2%E4%BA%8B%E9%A1%B9) The company faces market risks such as intense market competition, raw material price fluctuations, reliance on export sales, and human resource attrition, as well as technological risks like maintaining product technological leadership and potential loss of core technical processes. Fundraising projects may encounter risks related to construction, capacity expansion, increased fixed asset depreciation, and declining return on net assets. Furthermore, changes in tax preferential policies, export tax rebate policies, RMB exchange rate fluctuations, and improper control by the actual controller also constitute financial risks [(I) Potential Risks](index=15&type=section&id=(%E4%B8%80)%20%E5%8F%AF%E8%83%BD%E9%9D%A2%E5%AF%B9%E7%9A%84%E9%A3%8E%E9%99%A9) The company faces multiple risks, including intense market competition, raw material price fluctuations, high reliance on export sales, and loss of professional talent, constituting market and human resource risks; technological risks such as difficulty in maintaining product technological leadership and loss of core technical processes; fundraising project risks including construction progress, significant capacity expansion, increased fixed asset depreciation, and declining return on net assets; and financial risks such as changes in tax preferential policies, export tax rebate policies, RMB exchange rate fluctuations, and improper control by the actual controller - Market risks: Include intense market competition, raw material price fluctuations, high reliance on export sales (**81.64% of main business revenue from exports in Jan-Jun 2025**), and human resource attrition risk[54](index=54&type=chunk)[55](index=55&type=chunk) - Technological risks: Include the inability to continuously maintain product leadership and the risk of losing core technical processes[56](index=56&type=chunk)[57](index=57&type=chunk) - Fundraising project risks: Include project construction progress, significant capacity expansion, increased fixed asset depreciation (**28.16 million yuan annually**), and declining return on net assets risk[57](index=57&type=chunk)[58](index=58&type=chunk) - Financial risks: Include changes in tax preferential policies (**15% income tax preference for high-tech enterprises**), changes in export tax rebate policies, and RMB exchange rate fluctuation risk[59](index=59&type=chunk)[60](index=60&type=chunk)[61](index=61&type=chunk) - Risk of improper control by actual controllers: Actual controllers Liu Qinghua and Wang Yuehong hold **60.32% of the company's shares**, potentially exerting significant influence over major company decisions[61](index=61&type=chunk) [(II) Other Disclosure Matters](index=17&type=section&id=(%E4%BA%8C)%20%E5%85%B6%E4%BB%96%E6%8A%AB%E9%9C%B2%E4%BA%8B%E9%A1%B9) During the reporting period, the company had no other matters requiring disclosure - The company had no other disclosure matters[62](index=62&type=chunk) [Corporate Governance, Environment, and Society](index=18&type=section&id=%E7%AC%AC%E5%9B%9B%E8%8A%82%20%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86%E3%80%81%E7%8E%AF%E5%A2%83%E5%92%8C%E7%A4%BE%E4%BC%9A) This section details changes in directors and senior management, profit distribution plans, equity incentive programs, environmental information disclosure, and contributions to poverty alleviation and rural revitalization [Changes in Directors, Supervisors, and Senior Management](index=18&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E8%91%A3%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) During the reporting period, Supervisory Board Chairman Bai Jianmin, Supervisor Ma Fangfang, and Supervisor Ren Danping resigned. Ren Danping was elected as an employee representative director, and Shen Lanfen was elected as a director of the company's fourth board of directors. The company has abolished its supervisory board - Supervisory Board Chairman Bai Jianmin, Supervisor Ma Fangfang, and Supervisor Ren Danping resigned[64](index=64&type=chunk) - Ren Danping was elected as an employee representative director of the company's fourth board of directors[64](index=64&type=chunk) - Shen Lanfen was elected as a director of the company's fourth board of directors[65](index=65&type=chunk) - The company has abolished its supervisory board[65](index=65&type=chunk) [Profit Distribution Plan](index=18&type=section&id=%E4%BA%8C%E3%80%81%E5%88%A9%E6%B6%A6%E5%88%86%E9%85%8D%E6%88%96%E8%B5%84%E6%9C%AC%E5%85%AC%E7%A7%AF%E9%87%91%E8%BD%AC%E5%A2%9E%E9%A2%84%E6%A1%88) The board of directors resolved not to distribute profits or convert capital reserves into share capital for the current reporting period - No distribution or conversion for the current reporting period[66](index=66&type=chunk) [Equity Incentive Plan](index=18&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E8%82%A1%E6%9D%83%E6%BF%80%E5%8A%B1%E8%AE%A1%E5%88%92%E3%80%81%E5%91%98%E5%B7%A5%E6%8C%81%E8%82%A1%E8%AE%A1%E5%88%92%E6%88%96%E5%85%B6%E4%BB%96%E5%91%98%E5%B7%A5%E6%BF%80%E5%8A%B1%E6%8E%AA%E6%96%BD%E7%9A%84%E6%83%85%E5%86%B5%E5%8F%8A%E5%85%B6%E5%BD%B1%E5%93%8D) In May 2025, the company adjusted the repurchase price of its 2023 Restricted Stock Incentive Plan and approved the resolution for the achievement of unlocking conditions for the second unlocking period. Due to unmet performance targets, the company repurchased and cancelled 249,340 restricted shares, with 837,060 shares listed for circulation on August 4, 2025 - On May 21, 2025, the company's board of directors and supervisory board convened and approved the 'Resolution on Adjusting the Repurchase Price of the Company's 2023 Restricted Stock Incentive Plan' and the 'Resolution on the Achievement of Unlocking Conditions for the Second Unlocking Period of the 2023 Restricted Stock Incentive Plan'[67](index=67&type=chunk) - The company repurchased and cancelled a total of **249,340 restricted shares** that had been granted but not yet unlocked, with the cancellation date being July 24, 2025[68](index=68&type=chunk) - The total number of shares listed for circulation is **837,060 shares**, with the listing date for circulation being August 4, 2025[68](index=68&type=chunk) [Environmental Information Disclosure](index=19&type=section&id=%E5%9B%9B%E3%80%81%E7%BA%B3%E5%85%A5%E7%8E%AF%E5%A2%83%E4%BF%A1%E6%81%AF%E4%BE%9D%E6%B3%95%E6%8A%AB%E9%9C%B2%E4%BC%81%E4%B8%9A%E5%90%8D%E5%8D%95%E7%9A%84%E4%B8%8A%E5%B8%82%E5%85%AC%E5%8F%B8%E5%8F%8A%E5%85%B6%E4%B8%BB%E8%A6%81%E5%AD%90%E5%85%AC%E5%8F%B8%E7%9A%84%E7%8E%AF%E5%A2%83%E4%BF%A1%E6%81%AF%E6%83%85%E5%86%B5) During the reporting period, the company was not included in the list of enterprises required to disclose environmental information by law - The company was not included in the list of enterprises required to disclose environmental information by law[69](index=69&type=chunk) [Poverty Alleviation and Rural Revitalization](index=19&type=section&id=%E4%BA%94%E3%80%81%E5%B7%A9%E5%9B%BA%E6%8B%93%E5%B1%95%E8%84%B1%E8%B4%AB%E6%94%BB%E5%9D%9A%E6%88%90%E6%9E%9C%E3%80%81%E4%B9%A1%E6%9D%91%E6%8C%AF%E5%85%B4%E7%AD%89%E5%B7%A5%E4%BD%9C%E5%85%B7%E4%BD%93%E6%83%85%E5%86%B5) During the reporting period, the company had no specific activities related to consolidating poverty alleviation achievements or rural revitalization - The company had no specific activities related to consolidating poverty alleviation achievements or rural revitalization[69](index=69&type=chunk) [Significant Matters](index=20&type=section&id=%E7%AC%AC%E4%BA%94%E8%8A%82%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) This section covers the fulfillment of commitments, absence of related-party fund occupation or illegal guarantees, unaudited status of the semi-annual report, and the lack of significant litigation, violations, or other major transactions [Fulfillment of Commitments](index=20&type=section&id=%E4%B8%80%E3%80%81%E6%89%BF%E8%AF%BA%E4%BA%8B%E9%A1%B9%E5%B1%A5%E8%A1%8C%E6%83%85%E5%86%B5) During the reporting period, the company's actual controllers, shareholders, and incentive recipients strictly fulfilled all commitments related to the initial public offering and equity incentives, including not occupying company funds, reducing related-party transactions, refraining from engaging in competitive businesses, and fulfilling equity incentive obligations - Actual controllers Liu Qinghua and Wang Yuehong committed not to occupy company funds or assets in the future, nor to abuse control to misappropriate company funds or assets[71](index=71&type=chunk) - Actual controllers Liu Qinghua and Wang Yuehong committed to minimize related-party transactions with the company, and unavoidable transactions will be conducted based on fair, equitable, and compensatory principles[72](index=72&type=chunk) - Actual controllers Liu Qinghua and Wang Yuehong committed not to engage in businesses or activities that compete or may compete with Xidamen's main business[74](index=74&type=chunk) - The company committed not to provide loans or any other form of financial assistance to incentive recipients for acquiring restricted shares under this incentive plan[75](index=75&type=chunk) - Incentive recipients committed to return all benefits obtained from the incentive plan if the company's information disclosure documents contain false records, misleading statements, or major omissions[75](index=75&type=chunk) - All commitments were strictly fulfilled during the reporting period[71](index=71&type=chunk) [Occupation of Funds by Related Parties](index=22&type=section&id=%E4%BA%8C%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E5%8F%8A%E5%85%B6%E4%BB%96%E5%85%B3%E8%81%94%E6%96%B9%E9%9D%9E%E7%BB%8F%E8%90%A5%E6%80%A7%E5%8D%A0%E7%94%A8%E8%B5%84%E9%87%91%E6%83%85%E5%86%B5) During the reporting period, there was no non-operating occupation of funds by controlling shareholders or other related parties - The company had no non-operating occupation of funds by controlling shareholders or other related parties[76](index=76&type=chunk) [Illegal Guarantees](index=22&type=section&id=%E4%B8%89%E3%80%81%E8%BF%9D%E8%A7%84%E6%8B%85%E4%BF%9D%E6%83%85%E5%86%B5) During the reporting period, the company had no illegal guarantees - The company had no illegal guarantees[76](index=76&type=chunk) [Semi-Annual Report Audit Status](index=22&type=section&id=%E5%9B%9B%E3%80%81%E5%8D%8A%E5%B9%B4%E6%8A%A5%E5%AE%A1%E8%AE%A1%E6%83%85%E5%86%B5) This semi-annual report is unaudited - This semi-annual report is unaudited[5](index=5&type=chunk)[76](index=76&type=chunk) [Changes in Non-Standard Audit Opinions](index=22&type=section&id=%E4%BA%94%E3%80%81%E4%B8%8A%E5%B9%B4%E5%B9%B4%E5%BA%A6%E6%8A%A5%E5%91%8A%E9%9D%9E%E6%A0%87%E5%87%86%E5%AE%A1%E8%AE%A1%E6%84%8F%E8%A7%81%E6%89%80%E6%B6%89%E4%BA%8B%E9%A1%B9%E7%9A%84%E5%8F%98%E5%8C%96%E5%8F%8A%E5%A4%84%E7%90%86%E6%83%85%E5%86%B5) During the reporting period, there were no changes or handling of matters involving non-standard audit opinions in the company's prior year's annual report - The company's prior year's annual report had no changes or handling of matters involving non-standard audit opinions[76](index=76&type=chunk) [Bankruptcy and Reorganization Matters](index=22&type=section&id=%E5%85%AD%E3%80%81%E7%A0%B4%E4%BA%A7%E9%87%8D%E6%95%B4%E7%9B%B8%E5%85%B3%E4%BA%8B%E9%A1%B9) During the reporting period, the company had no bankruptcy and reorganization matters - The company had no bankruptcy and reorganization matters[76](index=76&type=chunk) [Significant Litigation and Arbitration Matters](index=22&type=section&id=%E4%B8%83%E3%80%81%E9%87%8D%E5%A4%A7%E8%AF%89%E8%AE%BC%E3%80%81%E4%BB%B2%E8%A3%81%E4%BA%8B%E9%A1%B9) During the reporting period, the company had no significant litigation or arbitration matters - The company had no significant litigation or arbitration matters[76](index=76&type=chunk) [Violations and Penalties](index=22&type=section&id=%E5%85%AB%E3%80%81%E4%B8%8A%E5%B8%82%E5%85%AC%E5%8F%B8%E5%8F%8A%E5%85%B6%E8%91%A3%E4%BA%8B%E3%80%81%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E3%80%81%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E3%80%81%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E6%B6%89%E5%AB%8C%E8%BF%9D%E6%B3%95%E8%BF%9D%E8%A7%84%E3%80%81%E5%8F%97%E5%88%B0%E5%A4%84%E7%BD%9A%E5%8F%8A%E6%95%B4%E6%94%B9%E6%83%85%E5%86%B5) During the reporting period, neither the company nor its directors, senior management, controlling shareholders, or actual controllers were involved in alleged violations, penalties, or rectification situations - Neither the company nor its directors, senior management, controlling shareholders, or actual controllers were involved in alleged violations, penalties, or rectification situations[76](index=76&type=chunk) [Integrity Status](index=22&type=section&id=%E4%B9%9D%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E5%8F%8A%E5%85%B6%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E3%80%81%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E8%AF%9A%E4%BF%A1%E7%8A%B6%E5%86%B5%E7%9A%84%E8%AF%B4%E6%98%8E) During the reporting period, the company and its controlling shareholders and actual controllers maintained good integrity, with no instances of failure to repay large debts on time, unfulfilled commitments, or public condemnation - During the reporting period, the company and its controlling shareholders and actual controllers maintained good integrity[76](index=76&type=chunk) - There were no instances of failure to repay large debts on time, unfulfilled commitments, or public condemnation by the CSRC or SSE[76](index=76&type=chunk) [Significant Related-Party Transactions](index=22&type=section&id=%E5%8D%81%E3%80%81%E9%87%8D%E5%A4%A7%E5%85%B3%E8%81%94%E4%BA%A4%E6%98%93) During the reporting period, the company had no significant related-party transactions, whether disclosed or undisclosed, related to daily operations, asset acquisition/disposal, joint external investments, or related-party creditor-debtor relationships - The company had no related-party transactions related to daily operations that were disclosed in interim announcements with no subsequent progress or changes[77](index=77&type=chunk) - The company had no matters disclosed in interim announcements with subsequent progress or changes[78](index=78&type=chunk) - The company had no related-party transactions related to daily operations that were not disclosed in interim announcements[78](index=78&type=chunk) - The company had no related-party transactions involving asset or equity acquisition/disposal[78](index=78&type=chunk)[79](index=79&type=chunk) - The company had no significant related-party transactions involving joint external investments[79](index=79&type=chunk) - The company had no related-party creditor-debtor relationships[79](index=79&type=chunk)[80](index=80&type=chunk) - The company had no financial business with related financial companies or financial companies controlled by the company and related parties[80](index=80&type=chunk) - The company had no other significant related-party transactions[81](index=81&type=chunk) [Fulfillment of Significant Contracts](index=23&type=section&id=%E5%8D%81%E4%B8%80%E3%80%81%E9%87%8D%E5%A4%A7%E5%90%88%E5%90%8C%E5%8F%8A%E5%85%B6%E5%B1%A5%E8%A1%8C%E6%83%85%E5%86%B5) During the reporting period, the company had no entrustment, contracting, or leasing matters, no significant guarantees, and no other significant contracts - The company had no entrustment, contracting, or leasing matters[81](index=81&type=chunk) - The company had no significant guarantees performed or unfulfilled during the reporting period[81](index=81&type=chunk) - The company had no other significant contracts[82](index=82&type=chunk) [Progress of Raised Funds Utilization](index=24&type=section&id=%E5%8D%81%E4%BA%8C%E3%80%81%E5%8B%9F%E9%9B%86%E8%B5%84%E9%87%91%E4%BD%BF%E7%94%A8%E8%BF%9B%E5%B1%95%E8%AF%B4%E6%98%8E) As of the end of the reporting period, all funds raised from the company's initial public offering have been fully utilized, with a cumulative investment of 471.49 million yuan, reaching an investment progress of 103.41%. The 'Architectural Shading New Materials Expansion Project' achieved 110.41% investment progress, the 'Smart Fashion Curtain Production Line Project' 67.52%, and the 'Smart Shading New Materials R&D Center Project' 83.14%. The company has used 92.97 million yuan of raised funds to replace self-raised funds previously invested [(I) Overall Utilization](index=24&type=section&id=(%E4%B8%80)%20%E5%8B%9F%E9%9B%86%E8%B5%84%E9%87%91%E6%95%B4%E4%BD%93%E4%BD%BF%E7%94%A8%E6%83%85%E5%86%B5) As of the end of the reporting period, all funds raised from the company's initial public offering have been fully utilized, with a cumulative investment of 471.49 million yuan, reaching an investment progress of 103.41% Overall Utilization of Raised Funds | Source of Raised Funds | Date Funds Received | Total Raised Funds (yuan) | Net Raised Funds (1) (yuan) | Committed Investment Amount in Prospectus (2) (yuan) | Cumulative Investment of Raised Funds as of Period End (4) (yuan) | Investment Progress of Raised Funds as of Period End (%) (6)=(4)/(1) | Amount Invested This Year (8) (yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Initial Public Offering | 2020年12月28日 | 50,808.00 | 45,590.88 | 45,590.88 | 47,149.20 | 103.41 | 1,670.85 | | Total | / | 50,808.00 | 45,590.88 | 45,590.88 | 47,149.20 | / | 1,670.85 | [(II) Details of Fundraising Projects](index=24&type=section&id=(%E4%BA%8C)%20%E5%8B%9F%E6%8A%95%E9%A1%B9%E7%9B%AE%E6%98%8E%E7%BB%86) The 'Architectural Shading New Materials Expansion Project' achieved 110.41% investment progress, the 'Smart Fashion Curtain Production Line Project' 67.52%, and the 'Smart Shading New Materials R&D Center Project' 83.14%. All projects have been completed or reached their intended usable state Detailed Utilization of Fundraising Projects | Project Name | Planned Total Investment (1) (yuan) | Cumulative Investment of Raised Funds as of Period End (3) (yuan) | Investment Progress as of Period End (%) (2)/(1) | Date Reached Intended Usable State | | :--- | :--- | :--- | :--- | :--- | | Architectural Shading New Materials Expansion Project | 35,029.88 | 38,676.79 | 110.41 | June 2025 | | Smart Fashion Curtain Production Line Project | 5,208.00 | 3,516.24 | 67.52 | June 2024 | | Smart Shading New Materials R&D Center Project | 2,353.00 | 1,956.17 | 83.14 | June 2024 | | Replenishment of Working Capital | 3,000.00 | 3,000.00 | 100 | / | [(III) Changes or Termination of Fundraising Projects](index=26&type=section&id=(%E4%B8%89)%20%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%8B%9F%E6%8A%95%E5%8F%98%E6%9B%B4%E6%88%96%E7%BB%88%E6%AD%A2%E6%83%85%E5%86%B5) During the reporting period, the company had no changes or termination of fundraising projects - The company had no changes or termination of fundraising projects[86](index=86&type=chunk) [(IV) Other Uses of Raised Funds](index=27&type=section&id=(%E5%9B%9B)%20%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%8B%9F%E9%9B%86%E8%B5%84%E9%87%91%E4%BD%BF%E7%94%A8%E7%9A%84%E5%85%B6%E4%BB%96%E6%83%85%E5%86%B5) The company has used 92.97 million yuan of raised funds to replace self-raised funds previously invested. As of the end of the reporting period, all funds raised from the initial public offering have been fully utilized - The company used **92.97 million yuan** of raised funds to replace self-raised funds previously invested[87](index=87&type=chunk) - As of the end of the reporting period, all funds raised from the company's initial public offering have been fully utilized[88](index=88&type=chunk) [(V) Verification Opinions of Intermediary Agencies](index=27&type=section&id=(%E4%BA%94)%20%E4%B8%AD%E4%BB%8B%E6%9C%BA%E6%9E%84%E5%85%B3%E4%BA%8E%E5%8B%9F%E9%9B%86%E8%B5%84%E9%87%91%E5%AD%98%E5%82%A8%E4%B8%8E%E4%BD%BF%E7%94%A8%E6%83%85%E5%86%B5%E7%9A%84%E4%B8%93%E9%A1%B9%E6%A0%B8%E6%9F%A5%E3%80%81%E9%89%B4%E8%AF%81%E7%9A%84%E7%BB%93%E8%AE%BA%E6%80%A7%E6%84%8F%E8%A7%81) During the reporting period, the company had no conclusive opinions from intermediary agencies regarding special verification or attestation of the storage and utilization of raised funds - The company had no conclusive opinions from intermediary agencies regarding special verification or attestation of the storage and utilization of raised funds[89](index=89&type=chunk) [(VI) Rectification of Irregularities in Raised Funds Utilization](index=27&type=section&id=(%E5%85%AD)%20%E6%93%85%E8%87%AA%E5%8F%98%E6%9B%B4%E5%8B%9F%E9%9B%86%E8%B5%84%E9%87%91%E7%94%A8%E9%80%94%E3%80%81%E8%BF%9D%E8%A7%84%E5%8D%A0%E7%94%A8%E5%8B%9F%E9%9B%86%E8%B5%84%E9%87%91%E7%9A%84%E5%90%8E%E7%BB%AD%E6%95%B4%E6%94%B9%E6%83%85%E5%86%B5) During the reporting period, the company had no subsequent rectification of unauthorized changes in the use of raised funds or illegal occupation of raised funds - The company had no subsequent rectification of unauthorized changes in the use of raised funds or illegal occupation of raised funds[89](index=89&type=chunk) [Other Significant Matters](index=27&type=section&id=%E5%8D%81%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E9%87%8D%E5%A4%A7%E4%BA%8B%E9%A1%B9%E7%9A%84%E8%AF%B4%E6%98%8E) During the reporting period, the company had no other significant matters requiring explanation - The company had no other significant matters[89](index=89&type=chunk) [Share Changes and Shareholder Information](index=28&type=section&id=%E7%AC%AC%E5%85%AD%E8%8A%82%20%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E5%8F%8A%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) This section details changes in share capital, shareholder structure, and the holdings and incentives of directors and senior management, confirming no changes in controlling shareholder or preferred shares [Changes in Share Capital](index=28&type=section&id=%E4%B8%80%E3%80%81%E8%82%A1%E6%9C%AC%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) During the reporting period, the company's total share capital remained unchanged at 191,547,440 shares, with no change in the proportion of restricted and unrestricted tradable shares. After the reporting period, the company repurchased and cancelled 249,340 restricted shares due to equity incentives, changing the total share capital to 191,298,100 shares, which will impact earnings per share and net assets per share Table of Share Changes | | Quantity Before Change | Proportion Before Change (%) | Change (+,-) Subtotal | Quantity After Change | Proportion After Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 2,450,000 | 1.28 | 0 | 2,450,000 | 1.28 | | 3. Other Domestic Shares | 2,450,000 | 1.28 | 0 | 2,450,000 | 1.28 | | Of which: Domestic Natural Person Holdings | 2,450,000 | 1.28 | 0 | 2,450,000 | 1.28 | | II. Unrestricted Tradable Shares | 189,097,440 | 98.72 | 0 | 189,097,440 | 98.72 | | 1. RMB Ordinary Shares | 189,097,440 | 98.72 | 0 | 189,097,440 | 98.72 | | III. Total Shares | 191,547,440 | 100 | 0 | 191,547,440 | 100 | - After the reporting period, the company repurchased and cancelled **249,340 restricted shares** due to equity incentives, changing the total share capital to **191,298,100 shares**, which will impact earnings per share and net assets per share[93](index=93&type=chunk) [Shareholder Information](index=29&type=section&id=%E4%BA%8C%E3%80%81%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) As of the end of the reporting period, the company had 12,862 common shareholders. Among the top ten shareholders, Liu Qinghua held 57.52% as the largest shareholder, is married to Wang Yuehong and acts in concert with her, and Liu Xiaohua is Liu Qinghua's brother. The company's dedicated share repurchase account held 1.62% of shares - Total number of common shareholders as of the end of the reporting period: **12,862**[95](index=95&type=chunk) Top Ten Shareholders' Holdings | Shareholder Name (Full Name) | Number of Shares Held at Period End | Proportion (%) | Number of Restricted Shares Held | Pledged, Marked, or Frozen Status | Shareholder Nature | | :--- | :--- | :--- | :--- | :--- | :--- | | Liu Qinghua | 110,173,771 | 57.52 | 0 | None | Domestic Natural Person | | Wang Yuehong | 5,368,229 | 2.80 | 0 | None | Domestic Natural Person | | Zhejiang Xidamen New Materials Co., Ltd. Repurchase Special Securities Account | 3,106,332 | 1.62 | 0 | None | Other | | Cai Chunyan | 1,742,436 | 0.91 | 0 | None | Domestic Natural Person | | Shen Huafeng | 1,498,000 | 0.78 | 225,400 | None | Domestic Natural Person | | Liu Xiaohua | 1,480,500 | 0.77 | 0 | None | Domestic Natural Person | | Ye Mingshan | 1,128,580 | 0.59 | 0 | None | Domestic Natural Person | | Chen Ye | 1,000,000 | 0.52 | 0 | None | Domestic Natural Person | | Hangzhou Zhongda Junyue Investment Co., Ltd. - Junyue Runze Selected Private Securities Investment Fund | 902,692 | 0.47 | 0 | None | Other | | China Construction Bank Co., Ltd. - Noah Multi-Strategy Stock Fund | 840,200 | 0.44 | 0 | None | Other | - Among the top ten shareholders, Liu Qinghua and Wang Yuehong are married and act in concert, and Liu Xiaohua is Liu Qinghua's brother[98](index=98&type=chunk) Top Ten Restricted Shareholders' Holdings and Restrictions | No. | Restricted Shareholder Name | Number of Restricted Shares Held | Tradable Date | Restriction Conditions | | :--- | :--- | :--- | :--- | :--- | | 1 | Shen Huafeng | 225,400.00 | In batches according to incentive plan | Restricted according to incentive plan | | 2 | Wang Ping | 196,000.00 | In batches according to incentive plan | Restricted according to incentive plan | | 3 | Dai Huijin | 147,000.00 | In batches according to incentive plan | Restricted according to incentive plan | | 4 | Shen Huaqiang | 98,000.00 | In batches according to incentive plan | Restricted according to incentive plan | | 5 | Yu Jie | 88,200.00 | In batches according to incentive plan | Restricted according to incentive plan | | 6 | Wang Fei | 88,200.00 | In batches according to incentive plan | Restricted according to incentive plan | | 7 | Fu Xiaoyu | 88,200.00 | In batches according to incentive plan | Restricted according to incentive plan | | 8 | Liu Ying | 78,400.00 | In batches according to incentive plan | Restricted according to incentive plan | | 9 | Dong Yuting | 78,400.00 | In batches according to incentive plan | Restricted according to incentive plan | | 10 | Zhou Li | 78,400.00 | In batches according to incentive plan | Restricted according to incentive plan | [Holdings and Incentives of Directors, Supervisors, and Senior Management](index=31&type=section&id=%E4%B8%89%E3%80%81%E8%91%A3%E4%BA%8B%E5%92%8C%E9%AB%98%E7%BA%A7%E7%AE%A1%E7%90%86%E4%BA%BA%E5%91%98%E6%83%85%E5%86%B5) During the reporting period, there were no changes in the shareholdings of the company's directors and senior management, nor were they granted any equity incentives - No changes in shareholdings of current and resigned directors and senior management during the reporting period[101](index=101&type=chunk) - Directors and senior management were not granted any equity incentives during the reporting period[101](index=101&type=chunk) [Changes in Controlling Shareholder/Actual Controller](index=31&type=section&id=%E5%9B%9B%E3%80%81%E6%8E%A7%E8%82%A1%E8%82%A1%E4%B8%9C%E6%88%96%E5%AE%9E%E9%99%85%E6%8E%A7%E5%88%B6%E4%BA%BA%E5%8F%98%E6%9B%B4%E6%83%85%E5%86%B5) During the reporting period, there were no changes in the company's controlling shareholder or actual controller - During the reporting period, there were no changes in the company's controlling shareholder or actual controller[101](index=101&type=chunk) [Preferred Shares Information](index=31&type=section&id=%E4%BA%94%E3%80%81%E4%BC%98%E5%85%88%E8%82%A1%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) During the reporting period, the company had no preferred shares - During the reporting period, the company had no preferred shares[101](index=101&type=chunk) [Bond-Related Information](index=32&type=section&id=%E7%AC%AC%E4%B8%83%E8%8A%82%20%E5%80%BA%E5%88%B8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) This section confirms the absence of corporate bonds, enterprise bonds, non-financial enterprise debt financing instruments, and convertible corporate bonds during the reporting period [Corporate Bonds and Debt Financing Instruments](index=32&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E5%80%BA%E5%88%B8%EF%BC%88%E5%90%AB%E4%BC%81%E4%B8%9A%E5%80%BA%E5%88%B8%EF%BC%89%E5%92%8C%E9%9D%9E%E9%87%91%E8%9E%8D%E4%BC%81%E4%B8%9A%E5%80%BA%E5%8A%A1%E8%9E%8D%E8%B5%84%E5%B7%A5%E5%85%B7) During the reporting period, the company had no corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments - The company had no corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments[103](index=103&type=chunk) [Convertible Corporate Bonds](index=32&type=section&id=%E4%BA%8C%E3%80%81%E5%8F%AF%E8%BD%AC%E6%8D%A2%E5%85%AC%E5%8F%B8%E5%80%BA%E5%88%B8%E6%83%85%E5%86%B5) During the reporting period, the company had no convertible corporate bonds - The company had no convertible corporate bonds[103](index=103&type=chunk) [Financial Report](index=33&type=section&id=%E7%AC%AC%E5%85%AB%E8%8A%82%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E5%91%8A) This section presents the unaudited financial statements, company background, accounting policies, tax information, detailed notes to consolidated and parent company financial statements, R&D expenses, changes in consolidation scope, interests in other entities, government grants, financial instrument risks, fair value disclosures, related parties and transactions, share-based payments, commitments, contingencies, and other significant matters [Audit Report](index=33&type=section&id=%E4%B8%80%E3%80%81%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) This semi-annual report is unaudited - This semi-annual report is unaudited[105](index=105&type=chunk) [Financial Statements](index=33&type=section&id=%E4%BA%8C%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) Discloses the company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity for H1 2025, comprehensively reflecting the financial position and operating results at the end of the reporting period - The consolidated balance sheet shows that as of June 30, 2025, the company's total assets were **1.39 billion yuan**, and total equity attributable to parent company owners was **1.29 billion yuan**[107](index=107&type=chunk) - The consolidated income statement shows that for Jan-Jun 2025, the company's operating revenue was **419.22 million yuan**, and net profit attributable to parent company owners was **55.80 million yuan**[114](index=114&type=chunk) - The consolidated cash flow statement shows that for Jan-Jun 2025, net cash flow from operating activities was **97.43 million yuan**, net cash flow from investing activities was **-103.79 million yuan**, and net cash flow from financing activities was **-48.00 million yuan**[118](index=118&type=chunk) - The consolidated statement of changes in owners' equity shows that for Jan-Jun 2025, total equity attributable to parent company owners increased by **15.02 million yuan**[123](index=123&type=chunk) [Company Basic Information](index=52&type=section&id=%E4%B8%89%E3%80%81%E5%85%AC%E5%8F%B8%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5) Zhejiang Xidamen New Materials Co., Ltd. was established in 1997, listed on the Shanghai Stock Exchange in 2020, with a registered capital of 192 million yuan. The company primarily engages in R&D, production, and sales of functional shading materials and finished shading products, including sun fabric, coated fabric, dimmable fabric, and finished curtains - Zhejiang Xidamen New Materials Co., Ltd. was registered on December 22, 1997, and listed on the Shanghai Stock Exchange on December 31, 2020[137](index=137&type=chunk) - The company's registered capital is **191.68 million yuan**, with a total of **191.68 million shares**[137](index=137&type=chunk) - The company's main business activities are the R&D, production, and sales of functional shading materials and finished shading products[137](index=137&type=chunk) - The company's main products include sun fabric, coated fabric, dimmable fabric, and finished curtains[137](index=137&type=chunk) [Basis of Financial Statement Preparation](index=52&type=section&id=%E5%9B%9B%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E7%9A%84%E7%BC%96%E5%88%B6%E5%9F%BA%E7%A1%80) The company's financial statements are prepared on a going concern basis, with no matters raising significant doubt about its ability to continue as a going concern within 12 months from the end of the reporting period - The company's financial statements are prepared on a going concern basis[138](index=138&type=chunk) - The company has no matters or circumstances that raise significant doubt about its ability to continue as a going concern within 12 months from the end of the reporting period[139](index=139&type=chunk) [Significant Accounting Policies and Estimates](index=52&type=section&id=%E4%BA%94%E3%80%81%E9%87%8D%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%94%BF%E7%AD%96%E5%8F%8A%E4%BC%9A%E8%AE%A1%E4%BC%B0%E8%AE%A1) The company adheres to enterprise accounting standards, disclosing specific accounting policies and estimates for financial instrument impairment, inventories, fixed asset depreciation, construction in progress, intangible assets, and revenue recognition, and detailing the classification, measurement, derecognition, fair value determination, and expected credit loss measurement methods for financial assets and liabilities - The financial statements prepared by the company comply with the requirements of enterprise accounting standards, accurately and completely reflecting the company's financial position, operating results, and other information[141](index=141&type=chunk) - The company's accounting year runs from January 1 to December 31 of the Gregorian calendar[142](index=142&type=chunk) - The company's operating cycle is short, using **12 months** as the liquidity classification standard for assets and liabilities[143](index=143&type=chunk) - The company and its domestic subsidiaries use RMB as their functional currency, while overseas subsidiaries choose the currency of their primary economic environment as their functional currency[144](index=144&type=chunk) Materiality Standards | Item | Materiality Standard | | :--- | :--- | | Significant construction in progress projects | Individual projects exceeding 10.00 million yuan are considered significant construction in progress projects | | Significant cash flows from investing activities | Individual amounts exceeding 5% of total assets are considered significant cash flows from investing activities | - Financial assets are classified at initial recognition into three categories: measured at amortized cost, measured at fair value with changes recognized in other comprehensive income, and measured at fair value with changes recognized in profit or loss[152](index=152&type=chunk) - The company performs impairment testing based on expected credit losses for financial assets measured at amortized cost, debt instrument investments measured at fair value with changes recognized in other comprehensive income, and contract assets[157](index=157&type=chunk) - Revenue recognition principle: At contract inception, identify each distinct performance obligation within the contract and determine whether each distinct performance obligation is satisfied over time or at a point in time[194](index=194&type=chunk) - Government grants are classified as asset-related or income-related, recognized as deferred income or included in current profit or loss, respectively[198](index=198&type=chunk)[199](index=199&type=chunk) - As a lessee, simplified treatment is applied to short-term leases and leases of low-value assets; other leases recognize right-of-use assets and lease liabilities. As a lessor, leases are classified as finance leases or operating leases[203](index=203&type=chunk)[206](index=206&type=chunk) [Taxation](index=67&type=section&id=%E5%85%AD%E3%80%81%E7%A8%8E%E9%A1%B9) The company's main taxes include VAT, corporate income tax, property tax, urban maintenance and construction tax, and education surcharge. The company enjoys a 15% corporate income tax preference as a high-tech enterprise, and some subsidiaries enjoy a 20% corporate income tax preference as small low-profit enterprises Main Tax Categories and Rates | Tax Category | Tax Base | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax (VAT) | Sales of goods and taxable services calculated according to tax laws, less deductible input VAT for the current period | 13%, 6% | | Corporate Income Tax | Taxable income | 8.25%, 15%, 17%, 20%, 21%, 25

证券代码：605155 证券简称：西大门 公告编号：2025-033 浙江西大门新材料股份有限公司 关于 2025 年半年度募集资金 存放及使用情况的专项报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 一、 募集资金基本情况 1.实际募集资金金额和资金到位情况 根据中国证券监督管理委员会证监许可〔2020〕2389 号文核准，并经上海 证券交易所同意，浙江西大门新材料股份有限公司（以下简称"公司"）由主承销 商浙商证券股份有限公司采用承销方式，向社会公众公开发行人民币普通股（A 股）股票 2,400 万股，发行价为每股人民币 21.17 元，共计募集资金 50,808.00 万元，坐扣承销和保荐费用 2,537.74 万元后的募集资金为 48,270.26 万元，已由 主承销商浙商证券股份有限公司于 2020 年 12 月 28 日汇入本公司募集资金监管 账户。另减除上网发行费、招股说明书印刷费、申报会计师费、律师费等与发 行权益性证券直接相关的新增外部费用 2,679.38 万元后，公司本次募集资金净 额为 45, ...

Group 1 - The stock price of Xidamen as of August 26, 2025, is 15.13 yuan, down 0.04 yuan or 0.26% from the previous trading day [1] - The opening price for the day was 15.07 yuan, with a high of 15.67 yuan and a low of 15.07 yuan, resulting in a volatility of 3.96% [1] - The trading volume was 52,535 hands, with a total transaction amount of 0.80 billion yuan [1] Group 2 - Xidamen operates in sectors including household light industry, Zhejiang region, antibacterial fabrics, cross-border e-commerce, and outdoor camping [1] - The company's main business involves the research, production, and sales of functional sunshade materials, which are widely used in construction and home applications [1] Group 3 - On the morning of August 26, Xidamen experienced a rapid decline, with a drop of over 2% within 5 minutes, reaching a price of 15.26 yuan at 9:36 AM, with a transaction amount of 15.72 million yuan [1] - The net outflow of main funds for the day was 778,200 yuan, while the cumulative net inflow of main funds over the past five days was 12,474,400 yuan [1]

Group 1 - The stock price of Xidamen closed at 15.17 yuan on August 25, 2025, down 2.00% from the previous trading day, with a trading range of 14.51 to 15.55 yuan, indicating a volatility of 6.72% [1] - On August 25, the main capital outflow was 14.94 million yuan, accounting for 0.52% of the circulating market value, while the overall main capital showed a net inflow of 36.08 million yuan over the past five trading days, representing 1.25% of the circulating market value [1] Group 2 - Xidamen is primarily engaged in the research and production of functional shading materials, with applications in building shading and home decoration, and operates within the household light industry sector [1] - The company's business also involves antibacterial fabrics and cross-border e-commerce in various niche markets [1]

Core Insights - The Shijingshan District has seen its GDP increase from 97.38 billion yuan in 2020 to 131.29 billion yuan in 2024, with a 7.6% year-on-year growth in the first half of this year, leading the growth among central urban areas [1][2] Economic Transformation - The district has accelerated its industrial transformation, shifting its industrial structure from a 7:3 ratio of primary to secondary and tertiary industries to a 1:9 ratio, focusing on information technology and modern finance as the leading sectors [2] - The two major industry clusters, information technology and modern finance, contribute over 60% to the district's GDP, while emerging sectors like AI and virtual reality generate annual revenues of 130 billion yuan [2] Urban Development Initiatives - The "Two Parks and One River" strategy has been identified as a core engine for transformation, emphasizing ecological planning and the integration of urban and natural spaces [3] - Significant projects, including the transformation of the Shougang Park and the development of a multi-functional exhibition town, are underway to enhance the district's appeal and functionality [3][4] Urban Renewal Projects - During the 14th Five-Year Plan, Shijingshan has implemented 481 urban renewal projects, attracting over 90 billion yuan in investment, and has completed extensive renovations of old residential areas [4] - The district has transformed old industrial sites into modern tech and cultural parks, significantly improving the urban landscape and increasing tourism, with visitor numbers projected to reach 13 million in 2024 [4] Upcoming Events and Projects - The "Yongding River Collection" project will debut before the service trade fair, aiming to create a vibrant urban waterfront lifestyle and cultural hub [6] - The project will feature 30 design spaces and is set to enhance the area's cultural and economic activities, aligning with major events to boost regional consumption [6]