衡美健康冲刺北交所上市 核心股东解除一致行动关系

Core Viewpoint - Zhejiang Hengmei Health Technology Co., Ltd. is preparing for an IPO on the Beijing Stock Exchange, facing challenges such as a decline in revenue and net profit, and regulatory scrutiny over inaccurate disclosures related to a terminated betting agreement [1][2]. Group 1: Company Overview - Hengmei Health specializes in the research, production, and sales of nutritional functional foods, primarily providing comprehensive R&D and production services to brand clients [3]. - The company is controlled by Feng Wei, who holds 78.10% of the voting rights, with key shareholders including Zheng Yadan and Yang Peng [3][4]. Group 2: Financial Performance - The company reported revenues of approximately 587 million yuan, 979 million yuan, and 1.072 billion yuan for the years 2022, 2023, and 2024, respectively, with net profits of about 39.84 million yuan, 97.44 million yuan, and 103 million yuan [6]. - In Q1 2025, Hengmei Health experienced a revenue decline of 10.14% year-on-year, totaling 217 million yuan, and a net profit drop of 23.12%, amounting to 20.61 million yuan [7]. Group 3: Regulatory Issues - The company received a warning letter from the regulatory authority due to inaccurate disclosures regarding the termination of special rights agreements with investors [5][6]. - The warning highlighted discrepancies in the timing of the signing of supplementary agreements related to the company's obligations [5]. Group 4: Production Capacity and Challenges - The company faced low capacity utilization rates for certain products in 2024, with liquid products at 55.81%, bar products at 69.90%, and baking products at only 11.97% [8]. - The decline in revenue was attributed to market demand fluctuations and rising costs of key raw materials, particularly protein-based ingredients [7][8]. Group 5: Future Plans - Hengmei Health plans to raise 50.13 million yuan for projects aimed at expanding production capacity and enhancing R&D capabilities [9]. - The new production base is expected to improve operational efficiency and attract skilled talent, thereby strengthening the company's market position [9].