SinoDaan(SZ:300635) Zheng Quan Zhi Xing·2025-08-24 16:13Company Overview - Sino Daan Co., Ltd. is primarily engaged in engineering supervision and project management consulting services, focusing on sectors such as telecommunications, electricity, civil engineering, and water conservancy [23][24]. - The company was established on August 8, 2000, and was listed on the Shenzhen Stock Exchange on March 31, 2017, with a registered capital of 140.134 million yuan [20][21]. Financial Performance - The company reported a net profit of -2.6598 million yuan for the first quarter of 2025 and a net profit of -49.3496 million yuan for the entire year of 2024, primarily due to a decline in operating income and gross profit [10][11]. - The total revenue for the reporting periods was 590.2544 million yuan and 705.3540 million yuan, indicating fluctuations in performance influenced by macroeconomic factors and government investments [3][4]. Share Issuance - The company plans to issue up to 42,040,200 shares, which will not exceed 30% of the total share capital prior to the issuance, with a target fundraising amount of no more than 365.7497 million yuan [7][8]. - The issuance will result in a change of control, with Xiamen Jianxi becoming the controlling shareholder and Wang Li as the actual controller [6][22]. Risks - The company faces significant risks related to the slowdown in infrastructure and fixed asset investment growth, which could adversely affect business demand and revenue [3][4]. - There is a risk of increased accounts receivable and contract assets, which could impact profitability if major clients experience financial difficulties [4]. Industry Characteristics - The company operates within the construction project management consulting industry, which is regulated by various government departments, including the Ministry of Housing and Urban-Rural Development and the Ministry of Industry and Information Technology [23][24]. - The industry is influenced by national policies on infrastructure investment and economic conditions, which can affect the demand for engineering supervision services [24][25].