Core Viewpoint - Zhejiang Bell Rail Equipment Co., Ltd. has initiated the IPO counseling process with plans to list on the Beijing Stock Exchange, with Guangfa Securities as the counseling institution [1]. Company Overview - Zhejiang Bell Rail Equipment Co., Ltd. was established on December 20, 1994, with a registered capital of 56.1 million yuan. The legal representative is Fang Jianping [2]. - The company specializes in the research, production, and sales of rail equipment such as alloy steel switch blades, turnouts, guard rails, and basic rails [2]. Financial Performance - For the fiscal years 2023 and 2024, the company's operating revenue is projected to be 286.96 million yuan and 320.85 million yuan, respectively [3]. - The net profit attributable to shareholders for the same periods is expected to be 75.86 million yuan and 75.38 million yuan [3]. - The gross profit margin for 2024 is 43.06%, slightly down from 43.46% in 2023 [3]. - The weighted return on net assets is forecasted to be 20.12% for 2024, down from 21.79% in 2023 [3]. - The company reported a net cash flow from operating activities of 1,045.93 million yuan in 2024, a significant increase from 224.75 million yuan in 2023 [3]. - Research and development expenses for 2024 are estimated at 10.85 million yuan, accounting for 3.38% of operating revenue, compared to 3.79% in 2023 [3]. Shareholding Structure - The major shareholder is Fang Jin, who holds 62.39% of the shares. The actual controllers are Fang Jianping, Fang Jin, and Fang Xiao, collectively controlling 90.91% of the company [6].