Core Viewpoint - The company, Zhejiang Tianzhen Technology Co., Ltd., is undergoing significant changes in its fundraising projects and operational strategies due to external trade pressures and internal performance challenges [1][3][8]. Summary by Relevant Sections Company Operations and Fundraising Projects - The company has extended the construction period of its fundraising project in the U.S. to June 30, 2027, changing the project from an annual production capacity of 3 million square meters to 2 million square meters of new inorganic composite flooring [1][2][4]. - The U.S. project is now managed by a new entity, Boson New Materials Company, located in Georgia, with construction expected to start in December 2024 and production to begin in July 2025 [1][2][4]. Performance and Challenges - The company has faced significant challenges due to U.S. customs imposing strict import restrictions, which have severely impacted export orders and overall business performance [2][3][8]. - As of 2024, the company is projected to incur losses, prompting it to enhance research and development efforts and explore new product lines to stabilize its operations [3][8]. Compliance and Regulatory Actions - The company has been reminded to continuously monitor factors leading to performance fluctuations and to fulfill its information disclosure obligations [2][3][10]. - Due to the improper use of idle fundraising capital, the company and its executives received warnings from regulatory bodies, necessitating a comprehensive review and improvement of internal controls related to fundraising management [9][10].
天振股份: 国投证券股份有限公司关于浙江天振科技股份有限公司2025年半年度持续督导跟踪报告