Farsoon(SH:688433)2023-08-28 16:00Environmental Compliance - The company obtained an environmental discharge permit from the environmental protection authority, with major pollutants including waste gas, wastewater, and solid waste [7]. - No exceedance of discharge limits for waste gas, wastewater, and solid waste was reported during the reporting period [7]. - The company has implemented low-carbon energy-saving and resource recycling measures to reduce indirect greenhouse gas emissions [13]. - The company utilizes advanced additive manufacturing technology, which is a new environmentally friendly manufacturing method with high material utilization rates [13]. - The company is not classified as a major environmental polluter and does not fall under the national key monitoring enterprises for wastewater, waste gas, and hazardous waste [11]. - The company has conducted environmental monitoring of waste gas, wastewater, and noise, with data subject to supervision by the environmental protection authority [10]. Shareholder Commitments - The company has committed to shareholding restrictions for various stakeholders, with commitment periods ranging from 12 to 36 months from the date of stock listing [14]. - The company committed to a 36-month lock-up period for shares held prior to the IPO, starting from the date of listing [17]. - Shareholders are prohibited from transferring or managing their shares during the lock-up period, with automatic extensions if stock prices fall below the IPO price [17]. - After the lock-up period, shareholders can only transfer up to 25% of their shares annually while adhering to legal regulations [22]. - The company has established measures to ensure compliance with commitments, including compensation for losses caused by non-compliance [22]. - Shareholders must disclose any plans for share reduction and ensure stable company operations [17]. - The company will not repurchase shares held prior to the IPO during the lock-up period [17]. - If the stock price falls below the IPO price for 20 consecutive trading days, the lock-up period will be extended by at least 6 months [22]. - Shareholders are required to report any changes in their shareholdings promptly [22]. - The commitments are in line with the regulations of the Shanghai Stock Exchange and relevant securities laws [22]. - The company emphasizes strict adherence to the commitments to maintain investor confidence and market stability [22]. - The company will not transfer or delegate the management of its pre-IPO shares within 12 months of the stock listing [24]. - The company commits to not transferring more than 25% of its pre-IPO shares annually for four years after the lock-up period ends [48]. Financial Performance - Total operating revenue for the first half of 2023 reached ¥240,879,846.35, an increase of 36.5% compared to ¥176,204,813.26 in the same period of 2022 [115]. - Total operating costs for the first half of 2023 were ¥195,291,002.62, up from ¥144,347,398.55 in the first half of 2022, reflecting a growth of 35.4% [115]. - Research and development expenses increased to ¥38,766,955.35 in the first half of 2023, compared to ¥25,097,518.54 in the same period of 2022, marking a rise of 54.6% [115]. - Net profit for the first half of 2023 was ¥42,506,308.36, compared to ¥31,620,413.89 in the previous year, indicating a year-over-year increase of about 34.5% [117]. - The basic and diluted earnings per share for the first half of 2023 were both ¥0.1100, up from ¥0.0848 in the same period of 2022, reflecting an increase of approximately 30.5% [118]. - The company's operating profit for the first half of 2023 was ¥46,240,124.73, compared to ¥34,691,995.45 in the previous year, marking an increase of around 33.4% [117]. - The total profit for the first half of 2023 was ¥46,406,222.92, compared to ¥34,883,580.94 in the previous year, indicating a growth of about 33.5% [117]. - The company's total assets as of June 30, 2023, amounted to ¥2,179,348,734.96, significantly higher than ¥1,139,550,236.52 at the end of 2022 [112]. - The total liabilities decreased to ¥342,892,597.24 from ¥374,298,307.04, indicating a reduction of approximately 8.4% [112]. - The equity attributable to shareholders increased to ¥1,836,456,137.72, up from ¥765,251,929.48, representing a growth of 140.0% [112]. - Cash and cash equivalents rose to ¥1,136,975,623.90, compared to ¥307,899,186.19 at the end of 2022, showing an increase of 269.5% [112]. Investment and Capital Management - The company plans to invest a total of CNY 329,405,000 in the additive manufacturing equipment expansion project, with a cumulative investment of CNY 3,961,217.98 as of the reporting period, representing 1.20% of the planned investment [46]. - The R&D headquarters and industrial application center project has a total planned investment of CNY 283,854,800, with no cumulative investment reported as of the reporting period [46]. - The company is also investing CNY 50,696,300 in the establishment of the Additive Manufacturing Technology Innovation (Shanghai) Research Institute, with no cumulative investment reported as of the reporting period [46]. - The company has raised excess funds amounting to CNY 359,378,285.36 from the IPO, with a cumulative investment of CNY 10,849,912.87, representing 3.02% of the planned investment [46]. - The company will accept supervision from regulatory authorities regarding share repurchase plans and will bear legal responsibilities for non-compliance [29]. - The company will ensure that any amendments to the share repurchase plan are submitted for shareholder approval [25]. - The company has established a fundraising management system to ensure the legal and compliant use of raised funds, safeguarding investor interests [59]. - The company will not engage in unrelated investments or consumption activities that could harm its interests [59]. - The company will actively manage and supervise the use of raised funds to prevent risks associated with their usage [59]. Regulatory Compliance and Governance - The company has committed to ensuring that its prospectus for the initial public offering (IPO) on the Sci-Tech Innovation Board is free from false records, misleading statements, or significant omissions, and will bear legal responsibility for its accuracy and completeness [33]. - If the prospectus contains any false records or significant omissions that lead to investor losses, the company will compensate investors as per legal requirements [34]. - The company will publicly disclose reasons for any failure to fulfill commitments and apologize to shareholders if such events occur [67]. - The company has agreed to compensate investors for any losses incurred due to non-fulfillment of commitments [68]. - The company will not increase salaries or allowances for its directors and senior management until the negative impacts of any unfulfilled commitments are fully resolved [68]. - The company has no significant doubts regarding its ability to continue as a going concern for the next 12 months [177]. - The financial statements comply with the requirements of the accounting standards, accurately reflecting the company's financial position [178]. - The company has implemented specific accounting policies for financial instruments, fixed asset depreciation, and revenue recognition [177]. Market Position and Strategy - The company plans to enhance its market expansion capabilities and brand influence through increased R&D investment and product innovation [59]. - The company has expanded its market presence, with ongoing investments in new product development and technology [170]. - The company has committed to avoiding any substantial competition with its controlled subsidiaries and will not engage in similar business activities [35]. - The company will ensure that any necessary related party transactions are conducted fairly and transparently, adhering to market prices and legal regulations [38]. Financial Instruments and Valuation - The company measures financial assets at amortized cost and recognizes gains or losses in profit or loss upon derecognition, reclassification, or impairment [187]. - Financial liabilities are measured at fair value, with changes recognized in profit or loss unless they are part of a hedging relationship [190]. - The company uses valuation techniques supported by sufficient data to determine the fair value of financial assets and liabilities, categorized into three levels [190]. - The company recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired [194]. - The company terminates recognition of financial assets when it transfers almost all risks and rewards of ownership [189]. - The company measures expected credit losses for receivables and contract assets using a simplified approach based on historical credit loss experience [191]. - Foreign currency transactions are translated at the exchange rate on the transaction date, with differences recognized in profit or loss [196]. - The company confirms financial assets or liabilities upon becoming a party to a financial instrument contract, initially measuring them at fair value [198]. - The company recognizes revenue from joint ventures based on its share of the output generated [195]. - The company applies a simplified method for measuring expected credit losses for aging receivables [192].