Core Viewpoint - The report highlights the financial performance and operational strategies of Shanghai Weisaibo New Materials Co., Ltd. for the first half of 2025, indicating a slight increase in revenue but a significant decline in net profit compared to the previous year [1][3]. Financial Performance - The company reported a revenue of CNY 185,049,271.24, representing a 0.27% increase from CNY 184,557,459.69 in the same period last year [3]. - Total profit decreased by 17% to CNY 15,071,986.43 from CNY 18,159,246.80 [3]. - Net profit attributable to shareholders fell by 19.3% to CNY 15,011,063.20 from CNY 18,600,816.69 [3]. - The net cash flow from operating activities increased significantly by 276.9% to CNY 29,967,597.38 from CNY 7,951,124.33 [3]. Business Overview - The company specializes in high-performance membrane separation technology, focusing on the research, production, and sales of reverse osmosis membranes and nanofiltration membranes [4][5]. - The company aims to become a leading supplier of core components in membrane separation technology, with applications in water treatment, municipal water supply, wastewater treatment, seawater desalination, and ultra-pure water preparation [4][5]. Industry Context - The membrane materials industry is a strategic emerging industry supported by national policies, with rapid development and increasing domestic market share [4][5]. - The company faces competition from established international players in the high-performance membrane sector, particularly from the USA and Japan [4][5]. Research and Development - The company invested CNY 1,475,040 in R&D during the first half of 2025, accounting for 7.97% of its revenue, a slight decrease from 8.05% in the previous year [5]. - The company has a total of 244 intellectual property applications, with 187 granted, indicating a strong focus on innovation [5][6]. Market Expansion - The company is actively expanding its market presence across various sectors, including chemicals, power, food and beverage, and pharmaceuticals, to capture growth opportunities [6][7]. - It aims to enhance its sales network and customer relationships to increase brand recognition and market influence [6][7]. Competitive Advantages - The company possesses advanced technology and a comprehensive product range, including various types of membranes and pressure vessels, which positions it favorably in the market [7][8]. - It has established long-term partnerships with well-known international companies, enhancing its market credibility [8].

Core Viewpoint - The company has developed a "Quality Improvement and Efficiency Enhancement" action plan for 2025 to enhance operational efficiency, strengthen market competitiveness, and ensure investor rights while promoting sustainable development [2]. Group 1: Business Performance - The company achieved operating revenue of 185.05 million yuan, a year-on-year increase of 0.27% [2]. - Operating profit was 15.11 million yuan, a decrease of 16.82% compared to the previous year [2]. - Net profit attributable to the parent company was 15.01 million yuan, down 19.30% year-on-year [2]. Group 2: Research and Development - The company has increased R&D investment to enhance its core technology reserves and maintain product leadership [2]. - As of June 30, 2025, the company had filed 244 intellectual property projects and received authorization for 187 projects [3]. - The company has improved its intellectual property management system to support high-quality development [3]. Group 3: Investor Returns - The company has established a long-term, stable, and sustainable shareholder dividend mechanism to protect shareholder rights [3]. - A proposal was made to distribute a cash dividend of 1.16 yuan per 10 shares, totaling 20.05 million yuan [3]. - The company aims to provide continuous and stable returns to investors while boosting market confidence [3]. Group 4: Information Disclosure - The company emphasizes transparency in information disclosure and regularly publishes annual and quarterly reports [4]. - An earnings briefing was held to explain operational data and future plans to investors [4]. - Various communication channels are used to enhance interaction with investors [4]. Group 5: Corporate Governance - The company focuses on the responsibilities of key personnel in its operations and supports their participation in training [5]. - Training is organized to enhance compliance knowledge and awareness among board members and senior management [5]. - Continuous efforts are made to improve corporate governance and mitigate risks [5].

Group 1 - The company raised a total of RMB 254.12 million from its initial public offering (IPO) by issuing 43,438,600 shares at a price of RMB 5.85 per share, with a net amount of RMB 202.80 million after deducting issuance costs of RMB 51.31 million [1] - As of December 31, 2024, the company has used RMB 204.23 million of the raised funds, with no funds used in the year 2024, resulting in a balance of RMB 0 in the fundraising account [2][4] - The company has completed all fundraising investment projects and closed the fundraising special account, transferring a remaining balance of RMB 0.27 million to its own account for working capital [2][3] Group 2 - The company has established a fundraising management system to ensure compliance with regulations and protect investor interests, implementing special account management for the raised funds [3] - There were no instances of using idle raised funds for temporary working capital or cash management in the year [6] - The company did not change any fundraising investment projects during the reporting period [6] Group 3 - The company achieved operating revenue of RMB 375.24 million in the reporting period, a decrease of 2.34% compared to the previous year, and a net profit attributable to shareholders of RMB 38.59 million, down 16.00% year-on-year [45] - The company is a high-tech enterprise specializing in the research and production of high-performance membrane materials and related equipment, with products including reverse osmosis membranes and composite pressure vessels [32][33] - The membrane separation technology industry is characterized by high technical barriers and is experiencing rapid growth, with increasing applications in various sectors such as water treatment and food processing [38][39]