酉立智能多项数据存在矛盾，大额员工工伤补贴背后原因不明

Core Insights - Jiangsu Youli Intelligent Equipment Co., Ltd. focuses on the research, production, and sales of core components for photovoltaic brackets, including TTU, BHA, URA, and RAIL [1] - The company experienced a significant decline in performance after the appointment of Chairman Li Tao, with 2024 revenue growth at only 10.84%, down from 51.96% in 2023, and net profit growth at 15.19%, compared to 185.55% and 85.27% in 2022 and 2023 respectively [1] - The company has an outstanding other payable exceeding three years, related to employee compensation for a work-related injury, amounting to 185,609 yuan [2][3] Financial Performance - The company's main IPO fundraising project is the construction of a production base for core components of photovoltaic brackets, which is expected to achieve an annual production capacity of 1.2 million TTUs and 1.8 million RAILs, generating an estimated annual revenue of 77.04 million yuan [4] - The gross profit margin for 2023 was reported at 18.48%, significantly higher than the comparable company Yihua Co., Ltd. at 10.87%, although the implementation of the fundraising project may lead to a decline in gross margin due to increased TTU revenue share [5] Supplier Relationships - In 2023, the company had nine suppliers with procurement amounts exceeding 20 million yuan, totaling 335.26 million yuan, indicating a strong reliance on a limited number of suppliers [5] - There are discrepancies in the reported procurement amounts from related party He Lian Zhen Rong, with reported figures of 46.48 million yuan and 48.03 million yuan for 2023, raising concerns about transparency [8][9] Employee Compensation and Liabilities - The company disclosed a significant employee compensation liability related to a work-related injury, which has not been adequately explained in the IPO documentation [2][3] - The total compensation for the work-related injury was 185,609 yuan, indicating potential risks associated with employee safety and liability management [2]