Core Viewpoint - Zhejiang Xinhengtai New Materials Co., Ltd. (referred to as "Xinhengtai") has responded to the second round of inquiry from the Beijing Stock Exchange, addressing issues related to the authenticity of sales by traders, stability of performance, accuracy of revenue recognition, and accuracy of cost accounting [2][5]. Group 1: Company Overview - Xinhengtai was established in 2008 and primarily engages in the research, application, and sales of new foaming materials, with products used in children's toys, sports goods, packaging, and new energy batteries [5]. - The company plans to raise 380 million yuan through its IPO, which will be allocated to projects including micro-porous foaming new materials, production line upgrades, research and development center construction, and working capital supplementation [5]. Group 2: Customer Relationships and Credit Policies - In 2023 and 2024, Xinhengtai's largest customers were Zhongxin Home and Aili Home, with sales amounts of 30.73 million yuan and 30.46 million yuan, accounting for 4.52% and 3.93% of revenue, respectively [5]. - The credit policy for Zhongxin Home was set at payment within six months after product delivery in 2022, which was adjusted to five months for 2023 to the first half of 2025; for Aili Home, the payment period was extended from 30 days to 75 days after receiving a qualified invoice [5]. - The inquiry from the Beijing Stock Exchange requested Xinhengtai to clarify whether the relaxation of credit policies was intended to stimulate sales and to provide a detailed list of credit policies for the top twenty customers over different periods, including any significant changes or discrepancies [5][6].