Group 1 - Tianzhen Co., Ltd. (301356.SZ) closed at 23.19 yuan, with a decline of 2.23% [1] - The company was listed on the Shenzhen Stock Exchange's ChiNext on November 14, 2022, with an initial public offering (IPO) of 30 million shares, accounting for 25% of the total share capital post-IPO, at a price of 63.00 yuan per share [1] - The highest price on the first trading day was 63.00 yuan, which remains the highest price since the listing, and the stock is currently in a state of decline [1] Group 2 - The total funds raised from the IPO amounted to 1,890 million yuan, with a net amount of 1,784,622,476.45 yuan after deducting issuance costs, exceeding the original plan by 411.62 million yuan [1] - The company plans to use the raised funds for projects including the production line for 30 million square meters of new inorganic material composite flooring and for working capital [1] - The issuance costs (excluding VAT) totaled 105.38 million yuan, with underwriting and sponsorship fees amounting to 83.36 million yuan [1] Group 3 - For the 2022 fiscal year, Tianzhen Co., Ltd. announced a dividend distribution plan, proposing a cash dividend of 12.50 yuan per 10 shares (including tax), totaling 150 million yuan, and a capital reserve transfer of 8 shares for every 10 shares held, increasing the total share capital to 216 million shares [2] - The record date for the dividend distribution was set for June 12, 2023, with the ex-dividend date on June 13, 2023 [2]

Core Viewpoint - Tianzhen Co., Ltd. has shown significant revenue growth in the first half of 2025, but its stock is currently trading below its initial public offering price, indicating market challenges despite operational improvements [1][2]. Financial Performance - In the first half of 2025, the company achieved operating revenue of 796 million yuan, a year-on-year increase of 153.97% [1] - The net profit attributable to shareholders was 49.49 million yuan, up 250.49% year-on-year [1] - The net profit after deducting non-recurring gains and losses was 44.18 million yuan, reflecting a 210.52% increase [1] - The net cash flow from operating activities was 63.96 million yuan [1] - For the year 2024, the company reported operating revenue of 892 million yuan, a year-on-year increase of 186.07% [1] - However, the net profit attributable to shareholders was -37.25 million yuan, an improvement from -267.64 million yuan in the previous year [1] - The net profit after deducting non-recurring gains and losses was -54.50 million yuan, compared to -306 million yuan in the previous year [1] - The net cash flow from operating activities was -98.18 million yuan, an improvement from -131 million yuan in the previous year [1] IPO and Stock Performance - Tianzhen Co., Ltd. was listed on the Shenzhen Stock Exchange's Growth Enterprise Market on November 14, 2022, with an initial public offering of 30 million shares at a price of 63.00 yuan per share [2] - The stock reached its highest price of 63.00 yuan on its first trading day but is currently in a state of decline [2] - The total funds raised from the IPO amounted to 1.89 billion yuan, with a net amount of approximately 1.78 billion yuan after deducting issuance costs [2] - The company planned to use the raised funds for the construction of new production lines and to supplement working capital [2] Dividend Distribution - For the fiscal year 2022, the company announced a cash dividend of 12.50 yuan per 10 shares, totaling 150 million yuan, along with a capital reserve conversion of 8 shares for every 10 shares held, increasing the total share capital [3] - The record date for the dividend distribution was June 12, 2023, with the ex-dividend date on June 13, 2023 [3]

Core Viewpoint - The company, Zhejiang Tianzhen Technology Co., Ltd., is undergoing significant changes in its fundraising projects and operational strategies due to external trade pressures and internal performance challenges [1][3][8]. Summary by Relevant Sections Company Operations and Fundraising Projects - The company has extended the construction period of its fundraising project in the U.S. to June 30, 2027, changing the project from an annual production capacity of 3 million square meters to 2 million square meters of new inorganic composite flooring [1][2][4]. - The U.S. project is now managed by a new entity, Boson New Materials Company, located in Georgia, with construction expected to start in December 2024 and production to begin in July 2025 [1][2][4]. Performance and Challenges - The company has faced significant challenges due to U.S. customs imposing strict import restrictions, which have severely impacted export orders and overall business performance [2][3][8]. - As of 2024, the company is projected to incur losses, prompting it to enhance research and development efforts and explore new product lines to stabilize its operations [3][8]. Compliance and Regulatory Actions - The company has been reminded to continuously monitor factors leading to performance fluctuations and to fulfill its information disclosure obligations [2][3][10]. - Due to the improper use of idle fundraising capital, the company and its executives received warnings from regulatory bodies, necessitating a comprehensive review and improvement of internal controls related to fundraising management [9][10].

Core Viewpoint - Tianzhen Co., Ltd. reported significant growth in revenue for 2024, achieving 8.92 billion yuan, a year-on-year increase of 186.07%, despite continuing net losses [1][2]. Financial Performance Summary - **2024 Annual Report**: - Revenue: 8.92 billion yuan, up 186.07% from 3.12 billion yuan in 2023 [1][2] - Net Profit attributable to shareholders: -37.25 million yuan, improved from -266.90 million yuan in the previous year, a reduction of 86.04% in losses [1][2] - Net Profit excluding non-recurring items: -54.50 million yuan, improved from -306.16 million yuan, an 82.20% reduction in losses [1][2] - Net cash flow from operating activities: -98.18 million yuan, improved from -130.92 million yuan, a 25.01% reduction in losses [1][2] - **Q1 2025 Report**: - Revenue: 4.12 billion yuan, up 168.73% from 153.40 million yuan in Q1 2024 [3] - Net Profit attributable to shareholders: 27.47 million yuan, a turnaround from -9.98 million yuan in the same period last year, a 375.16% increase [3] - Net Profit excluding non-recurring items: 25.71 million yuan, improved from -18.85 million yuan, a 236.41% increase [3] - Net cash flow from operating activities: -2.48 million yuan, improved from -61.06 million yuan, a 95.93% reduction in losses [3] IPO and Fundraising - Tianzhen Co., Ltd. was listed on the Shenzhen Stock Exchange on November 14, 2022, with an initial public offering of 30 million shares at a price of 63.00 yuan per share [4]. - The total funds raised amounted to 1.89 billion yuan, with a net amount of approximately 1.78 billion yuan after deducting issuance costs [4]. - The company planned to use the funds for the construction of new production lines and to supplement working capital [4]. Dividend Distribution - In 2022, the company announced a dividend distribution plan, proposing a cash dividend of 12.50 yuan per 10 shares and a capital reserve conversion of 8 shares for every 10 shares held, increasing the total share capital [5].