Core Viewpoint - Wuhu Jiahong New Materials Co., Ltd. has officially submitted an IPO application to the Beijing Stock Exchange, aiming to raise 425 million yuan [1] Financial Performance - Total assets have increased from 544.05 million yuan in 2022 to 707.38 million yuan by September 30, 2025 [2] - Total equity attributable to shareholders has grown from 414.16 million yuan in 2022 to 587.25 million yuan in 2025 [2] - The company's revenue fluctuated, with 2022 revenue at 355 million yuan, a slight decrease to 348 million yuan in 2023, a rebound to 401 million yuan in 2024, and 292 million yuan reported for the first three quarters of 2025 [5] - Net profit has shown a downward trend, from 76.98 million yuan in 2022 to 44.51 million yuan in 2025 [5] - The gross profit margin has varied, recorded at 39.27% in 2022, 45.93% in 2023, 45.24% in 2024, and 43.95% in 2025 [2] Business Structure - The company focuses on high polymer material technology, specializing in thermal management and optical communication products, with applications across various industries including oil and gas, chemicals, power, marine, semiconductors, rail transportation, and new energy vehicles [4] - The company's main business revenue is clearly structured by product or service categories, which directly impact overall revenue and profit levels [6] - The top five customers play a significant role in the company's business, influencing operational development through their purchasing scale and stability [6]