Core Viewpoint - Recent regulatory scrutiny has been directed at Reliable Co., Ltd. due to a violation involving related party transactions with Guangxi Hanggang Material Technology Co., Ltd., raising concerns among investors and the Zhejiang Securities Regulatory Bureau [1] Group 1: Regulatory Actions - Reliable Co. received a warning letter from the Zhejiang Securities Regulatory Bureau regarding its failure to timely disclose and review related party transactions amounting to 21.12 million yuan, which is 1.54% of the company's latest audited net assets [1] - The regulatory decision also holds the company's chairman and financial director accountable for the violations, leading to supervisory discussions being recorded in the securities market integrity archives [1] Group 2: Financial Performance Comparison - Reliable Co. has maintained annual revenues around 1.1 billion yuan from 2021 to 2024, while its net profit has not exceeded 50 million yuan during the same period [3] - In contrast, competitor HaoYue Care has reported significantly higher revenues ranging from 2.46 billion to 2.93 billion yuan and net profits between 363 million and 602 million yuan from 2020 to 2024 [3][6] Group 3: Strategic Developments - Reliable Co. is focusing on expanding production capacity and upstream raw material sourcing, which is crucial for the adult incontinence product sector [2][6] - The company has increased its procurement of long fiber fluff pulp from Guangxi Hanggang, leading to a gross margin improvement of 20.79% in 2024, up by 3.14 percentage points from the previous year [2] - Reliable Co. is also investing in a technology research and development center with a budget of 43.89 million yuan, aimed at enhancing its capabilities in raw material research and testing [6][7] Group 4: Market Position and Future Outlook - Reliable Co. has reported a revenue of 549 million yuan in the first half of 2025, reflecting a year-on-year growth of 5.39%, and a net profit of 28 million yuan, up 21.81% [10] - The company is actively pursuing domestic market opportunities amid global trade uncertainties, with plans for capacity expansion at its Guangxi Hanggang facility, which currently has an annual capacity of 100,000 tons [10]
与木浆公司2112.24万元关联交易未及时披露，杭州纸尿裤企业可靠股份被监管谈话