Core Viewpoint - Zhejiang Xinxing Tool Co., Ltd. has initiated its IPO process on the ChiNext board, with a focus on precision CNC tool manufacturing and a projected revenue of 467 million yuan and net profit of 185 million yuan for 2024 [1][3]. Financial Performance - The company expects to achieve revenues of 391 million yuan, 425 million yuan, and 467 million yuan from 2022 to 2024, with net profits of 172 million yuan, 177 million yuan, and 185 million yuan respectively [3][4]. - The gross profit margins are projected to be 58.06%, 57.10%, and 56.49% for the same period, significantly higher than the industry average of 44.93%, 41.51%, and 38.25% [3][4]. Market Position - Xinxing Tool ranks first in sales volume for steel plate drill products among domestic tool manufacturers, as certified by the China Machine Tool Industry Association [3][6]. - The company's products are utilized in major projects such as the Qinshan Nuclear Power Station and the Shanghai Maglev Train project, with key clients including China National Railway and Bosch [3][5]. Research and Development - The company has invested a total of 65.18 million yuan in R&D from 2022 to 2024, representing approximately 5.21%, 5.15%, and 4.90% of its revenue [5][6]. - Xinxing Tool has been granted 146 patents, including 33 invention patents, and has played a role in establishing two national industry standards [5][7]. Ownership Structure - The Zhu Dongwei family controls 92.65% of the company's shares, with Zhu Dongwei serving as the chairman and general manager [8].

General Provisions - The purpose of the work guidelines is to standardize company behavior and clarify the responsibilities and authority of the board secretary, in accordance with relevant laws and regulations [2] - The board secretary is a senior management position responsible to the company and the board of directors, subject to the same regulations as other senior management [2] Qualifications - The board secretary must possess essential professional knowledge and experience, and should be a director, general manager, deputy general manager, or financial officer [3] - The qualifications include knowledge in finance, taxation, law, finance, and corporate management, along with good personal qualities and communication skills [3] Responsibilities - The board secretary is responsible for information disclosure, ensuring compliance with disclosure regulations, and managing investor relations [4] - Duties include organizing board meetings, assisting in establishing internal control systems, and managing shareholder information [4] - The board secretary must also ensure that directors and senior management fulfill their duties and report any violations [4] Appointment and Dismissal Procedures - The board secretary is nominated by the chairman and appointed by the board of directors [6] - The board must terminate the appointment within one month if the secretary is unable to perform duties or violates regulations [6] - A confidentiality agreement must be signed upon appointment, and the company must report the dismissal to the stock exchange [6] Transition and Interim Management - Before leaving, the board secretary must undergo a review and transfer relevant documents and responsibilities [7] - An interim representative must be appointed to fulfill the duties of the board secretary during any vacancy [7] Miscellaneous - The guidelines take effect upon approval by the board and will be interpreted by the board [8]

Core Viewpoint - The financial performance of 欧科亿 (688308.SH) in Q1 2025 shows a significant increase in revenue but a substantial decline in net profit, indicating potential challenges in profitability despite revenue growth [1]. Financial Performance Summary - In Q1 2025, the company achieved operating revenue of 302 million yuan, a year-on-year increase of 14.32% [1]. - The net profit attributable to shareholders was 7.66 million yuan, representing a year-on-year decrease of 74.33% [1]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was 1.26 million yuan, down 90.54% year-on-year [1]. - The net cash flow from operating activities was -126 million yuan, slightly improved from -133 million yuan in the same period last year [1]. Historical Financial Data - From 2022 to 2024, the company reported operating revenues of 1.055 billion yuan, 1.026 billion yuan, and 1.127 billion yuan, respectively [1]. - The net profits attributable to shareholders for the same years were 242 million yuan, 166 million yuan, and 57.3 million yuan [1]. - The net profits after deducting non-recurring gains and losses were 225 million yuan, 130 million yuan, and 26.3 million yuan, respectively [1]. - The net cash flow from operating activities for these years was 173 million yuan, -9.15 million yuan, and 38.34 million yuan [1]. Fundraising Activities - The company raised a total of 600 million yuan from its initial public offering, with a net amount of 533 million yuan after deducting issuance costs [2]. - The funds raised were higher than the initial plan by 24.92 million yuan [2]. - The planned use of funds included 450 million yuan for a high-end CNC blade manufacturing base and 58 million yuan for upgrading a precision tool R&D platform [2]. Additional Fundraising Information - In 2022, the company issued 12,616,306 shares at a price of 63.41 yuan per share, raising approximately 800 million yuan, with a net amount of about 786 million yuan after costs [3]. - The total amount raised from both fundraising activities is 1.4 billion yuan [4]. Dividend Announcement - On June 9, 2023, the company announced a dividend of 7 yuan per 10 shares (pre-tax) and a stock bonus of 4 shares, with the ex-dividend date set for June 16, 2023 [5].