科马材料北交所IPO过会，被追问与中邦建设及关联方资金往来情况

Core Viewpoint - Zhejiang Kema Friction Material Co., Ltd. has met the requirements for issuance, listing, and information disclosure as per the North Exchange's review meeting [2] Group 1: Business Overview - The company specializes in the research, production, and sales of dry clutch friction plates and wet paper-based friction plates, focusing on the development and application of new friction materials [2] Group 2: Financial Performance - In 2022, 2023, and 2024, the company's operating revenues were 202 million, 199 million, and 249 million respectively, with net profits of 41.65 million, 49.05 million, and 71.03 million respectively [4] - For the first quarter of 2025, the company reported an operating revenue growth of 18.43% year-on-year, with a net profit increase of 41.56% after excluding non-recurring gains and losses [4] - For the first half of 2025, the estimated operating revenue is between 136 million to 141 million, reflecting a year-on-year growth of approximately 8.66% to 12.65%, with net profits expected to be between 43 million to 47 million, indicating a growth of 23.49% to 34.98% [4] Group 3: Market and Performance Stability - The North Exchange has requested the company to explain the rationale behind its gross margin being higher than that of its industry peers and to clarify the differences in gross margins when selling to manufacturers versus traders [3] - The company is also required to address the stability of its operating performance, including market space and expansion capabilities for its products, and whether there is a risk of demand shrinkage for dry friction plates [3]