Core Viewpoint - The company, Shandong Tenda Fastening Technology Co., Ltd., has released its 2025 semi-annual report, detailing its financial performance, fundraising activities, and future plans, emphasizing the importance of accurate and complete information disclosure [1][22][27]. Group 1: Fundraising Overview - The company successfully raised a total of RMB 849 million through its initial public offering, with a net amount of RMB 767.72 million after deducting issuance costs of RMB 81.28 million [6][7]. - As of June 30, 2025, the company has RMB 276.08 million in unutilized fundraising, with RMB 51.08 million in the special fundraising account and RMB 225 million temporarily idle for cash management [16]. Group 2: Fund Management and Usage - The company has established a fundraising management system to ensure the proper use of funds, adhering to relevant laws and regulations [8]. - A tripartite supervision agreement has been signed with banks and the sponsor to ensure the funds are used appropriately [9]. - The company has utilized RMB 206.72 million for supplementary working capital, with a minor excess of RMB 0.43 million sourced from interest income [25]. Group 3: Project Funding and Adjustments - The company has approved the use of RMB 100 million to increase capital and provide RMB 150 million in interest-free loans to its wholly-owned subsidiary for project implementation [18]. - There have been no changes in the implementation location or methods for the fundraising projects as of June 30, 2025 [10]. - The company has postponed the expected operational status of certain projects to July 19, 2026, without altering the project subjects or total investment amounts [20]. Group 4: Board Meeting and Approvals - The board of directors convened on August 13, 2025, to review and approve the semi-annual report and the special report on fundraising storage and usage [26][29]. - All board members were present, and the meeting complied with legal and regulatory requirements [26].

Financial Performance - In 2024, the company achieved an operating revenue of CNY 1,806.13 million, a year-on-year increase of 4.12% [2] - The net profit attributable to shareholders was CNY 76.63 million, a decline of 10.49% compared to the previous year [2] - The net cash flow from operating activities was negative CNY 123.05 million, primarily due to increased raw material purchases and changes in payment methods [3] - In Q1 2025, the company reported a net profit of CNY 17.47 million, with a year-on-year increase of 202.65% in the net profit excluding non-recurring items [4] Market Strategy - The company plans to actively pursue an overseas expansion strategy to mitigate trade policy risks and enhance supply chain security [3] - Domestic sales volume reached approximately 22,000 tons in 2024, representing a growth of 28.20% and accounting for 25.75% of total sales [4] - The company is focusing on emerging markets, particularly RCEP member countries, to diversify its export regions [5] Investment and R&D - As of the end of 2024, over 60% of the fundraising projects had been utilized, with significant progress in the stainless steel fastener production and smart warehousing project [4] - R&D investment in 2024 was CNY 25.07 million, accounting for 1.39% of operating revenue, with 17 new products developed, a year-on-year increase of 142.86% [4] Risk Management - The company is actively monitoring international trade policy changes and implementing measures to address potential tariff and trade barrier risks [6] - The asset-liability ratio for 2024 was 32.28%, indicating a reasonable overall debt level [8] Competitive Advantage - The company's core competitive advantages include R&D and technology, intelligent manufacturing, marketing channels, and export quality [9] - The significant increase in Q1 2025's net profit excluding non-recurring items reflects improved profitability in core business operations [10]

Group 1: Investment Projects - As of the end of 2024, over 60% of the funds raised for investment projects have been utilized [2] - The construction progress of the stainless steel fastener production and smart warehousing base in Jiangsu is nearing 80%, entering trial operation with good performance [2] - New equipment for the expansion and technological transformation project of stainless steel fasteners has been partially installed to replace old production lines, significantly enhancing automation and capacity utilization efficiency [2] Group 2: Financial Performance - In 2024, the company achieved an operating revenue of 180,613.17 million yuan, a year-on-year increase of 4.12% [3] - The net profit attributable to shareholders decreased by 10.49%, primarily due to weak global economic growth, insufficient domestic and foreign demand, and intensified market competition, which pressured product gross margins [3] Group 3: Domestic Market Growth - In 2024, domestic sales volume reached approximately 2.2 million tons, with a year-on-year growth of 28.20%, increasing its market share to 25.75% [3] - The company focused on domestic demand, enhancing service capabilities and product development for end customers and specific industries, while significantly increasing the proportion of project-based, customized, and high-value-added fastener products [3]

山东腾达紧固科技股份有限公司 Shandong Tengda Fasten Tech. Co., Ltd. （山东省枣庄市滕州市经济开发区鲁班大道北路 1999 号） 保荐人（主承销商） （山东省济南市市中区经七路 86 号） 山东腾达紧固科技股份有限公司 首次公开发行股票招股说明书 本次发行概况 | 发行股票类型 | 人民币普通股（A股） 发行股数 不超过5,000.00万股 | | | | | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 每股面值 | 1.00元 每股发行价格 【 】元 | | | | | | | | | | | | | | | | | | | | 发行前股本 | 15,000万股 发行后总股本 不超过20,000万股 | | | | | | | | | | | | | | | | | | | | 拟 上 市 的 证 券 | | | ...