Group 1 - The company, Mingxin Xuteng New Materials Co., Ltd., reported its fundraising activities and the management of raised funds for the year 2024, ensuring compliance with regulatory requirements [1][2][19] - The total amount raised from the initial public offering in 2020 was RMB 961.55 million, with a net amount of RMB 872 million after deducting related expenses [1][2] - In 2022, the company issued convertible bonds, raising RMB 673 million, with a net amount of RMB 663.64 million after expenses [2][3] Group 2 - The company has established special accounts for the management of raised funds, ensuring that funds are stored separately and used according to regulations [6][7] - As of December 31, 2024, the company had a balance of RMB 312.62 million in its fundraising accounts [43] - The company has utilized idle funds from the convertible bond issuance to temporarily supplement working capital, with a limit of RMB 300 million for a period not exceeding 12 months [39][44] Group 3 - The company has not used any excess funds for permanent working capital or to repay bank loans in 2024 [13][14] - The company has made adjustments to certain fundraising projects and has postponed the completion date for some projects without changing the intended use of funds [16][17] - The company has reported a net profit of -RMB 172.15 million for 2024, a decrease of 412.54% compared to the previous year [38] Group 4 - The automotive industry in China has shown resilience, with production and sales exceeding 31 million units in 2024, marking a year-on-year growth of 3.7% and 4.5% respectively [27][28] - The automotive interior materials industry is experiencing rapid growth driven by increasing consumer demand for high-quality and personalized products [29][30] - The company focuses on the research and development of new materials for automotive interiors, producing a range of products that meet safety and environmental standards [31][32]

Financial Performance - The company reported a basic earnings per share of -1.0600 yuan for 2024, a decrease of 421.21% compared to 0.3300 yuan in 2023 [1] - The net profit for 2024 was -1.72 billion yuan, a decline of 412.73% from 0.55 billion yuan in 2023 [1] - The operating revenue increased by 30.13% to 11.79 billion yuan in 2024, up from 9.06 billion yuan in 2023 [1] - The return on equity was -9.77% in 2024, a significant drop from 2.93% in 2023 [1] Shareholder Structure - The top ten unrestricted shareholders hold a total of 11,767.94 million shares, accounting for 72.58% of the circulating shares, with a decrease of 1.0342 million shares compared to the previous period [2] - The largest shareholder, Zhuang Junxin, holds 4,330.40 million shares, representing 26.71% of the total share capital, with no change [3] - Zhejiang Mingxin Asset Management Co., Ltd. holds 2,500.00 million shares, accounting for 15.42%, with no change [3] Dividend Policy - The company has decided not to distribute dividends or increase capital [2]