Group 1 - The core viewpoint of the news is that SenTai Co., Ltd. has shown a significant stock performance with a year-to-date increase of 26.64% and a current market capitalization of 2.276 billion yuan [1] - As of June 30, 2025, SenTai Co., Ltd. achieved an operating income of 503 million yuan, representing a year-on-year growth of 20.96%, while the net profit attributable to shareholders decreased by 19.97% to 31.1848 million yuan [1] - The company's main business revenue composition includes high-performance wood-plastic composite materials (60.56%), new stone-wood plastic composite materials (34.75%), and other segments [1] Group 2 - SenTai Co., Ltd. has distributed a total of 100 million yuan in dividends since its A-share listing [2] - As of June 30, 2025, the number of shareholders decreased by 2.89% to 8,540, while the average circulating shares per person increased by 2.97% to 5,157 shares [1] - Notably, the seventh largest circulating shareholder is the Noan Multi-Strategy Mixed A fund, which holds 555,100 shares as a new shareholder [2]

Financial Performance - In the first half of 2025, the company's operating revenue increased by 20.96% to CNY 503 million, while the net profit attributable to shareholders decreased by 19.97% to CNY 31.18 million [2][3] - The decline in net profit is attributed to high operating and market development costs of the subsidiary, Nait America, which accounted for 66.57% of the revenue growth [2][4] - The company's sales net profit margin fell significantly by 57.39% to 3.18% [2][3] Investment and R&D - The company reported a research and development investment of CNY 14.23 million in the first half of 2025, focusing on core technologies and industry trends [6][9] - The progress of the fundraising project "Annual Production of 600,000 Square Meters of New Stone-Wood Plastic Composite Material Digital Printing Production Line" is at 52% completion and is currently in trial production [4] Market Strategy and Expenses - The total period expenses reached CNY 122 million, with a period expense ratio of 24.14%, an increase of 4.40 percentage points year-on-year [8] - Sales expenses increased by 44.58%, management expenses by 45.91%, and financial expenses by 127.68%, primarily due to the formal operation of the overseas subsidiary, Nait America [8][10] - The company plans to continue deepening its presence in the European market while actively exploring North America, the Middle East, and other emerging markets [7][10] Currency and Trade Impact - The company's sales are primarily in foreign markets, with USD being the main currency, making it susceptible to exchange rate fluctuations [7][8] - The international trade environment, particularly increased tariffs in the U.S., has a certain impact on the company's market expansion [10] Shareholder and Market Response - The company maintains that changes in institutional holdings and stock price fluctuations are market behaviors, emphasizing a focus on core business and enhancing profitability [9][10] - The company has not seen an increase in shares held by major shareholders according to the 2025 semi-annual report [10]

Core Viewpoint - SenTai Co., Ltd. has experienced a stock price decline of 2.05% on September 5, 2023, with a current share price of 18.63 yuan, reflecting a total market capitalization of 2.202 billion yuan. The company has seen a year-to-date stock price increase of 22.57% but has faced a decline of 2.41% over the past five trading days and 9.39% over the past 20 days [1]. Company Overview - SenTai Co., Ltd. was established on December 15, 2006, and went public on April 17, 2023. The company is located in Guangde Economic Development Zone, Xuancheng City, Anhui Province. Its main business involves the research, design, production, and sales of high-performance wood-plastic composite materials and new stone-wood plastic composite materials [1]. - The revenue composition of SenTai Co., Ltd. is as follows: high-performance wood-plastic composite products account for 60.56%, new stone-wood plastic composite products for 34.75%, other products for 3.85%, prefabricated buildings for 0.73%, and other supplementary products for 0.10% [1]. Financial Performance - For the period from January to June 2025, SenTai Co., Ltd. achieved an operating income of 503 million yuan, representing a year-on-year growth of 20.96%. However, the net profit attributable to the parent company was 31.1848 million yuan, showing a year-on-year decrease of 19.97% [1]. - As of June 30, 2025, the company has distributed a total of 100 million yuan in dividends since its A-share listing [2]. Shareholder Information - As of June 30, 2025, the number of shareholders in SenTai Co., Ltd. was 8,540, a decrease of 2.89% from the previous period. The average number of circulating shares per person increased by 2.97% to 5,157 shares [1]. - Notably, the seventh largest circulating shareholder is the Noan Multi-Strategy Mixed A fund, holding 555,100 shares as a new shareholder, while the China Securities 500 Equal Weight Index Enhanced A fund has exited the top ten circulating shareholders list [2].

Core Viewpoint - SenTai Co., Ltd. has experienced a stock price decline recently, despite a year-to-date increase, indicating potential volatility in its market performance [1][2]. Company Overview - SenTai Co., Ltd. is located in Guangde Economic Development Zone, Xuancheng City, Anhui Province, and was established on December 15, 2006. The company was listed on April 17, 2023 [2]. - The main business involves the research, design, production, and sales of high-performance wood-plastic composite materials and new stone-wood plastic composite materials [2]. - The revenue composition is as follows: high-performance wood-plastic composite products account for 60.56%, new stone-wood plastic composite products for 34.75%, other products for 3.85%, prefabricated buildings for 0.73%, and other supplementary products for 0.10% [2]. Stock Performance - As of September 3, the stock price of SenTai Co., Ltd. was 18.66 CNY per share, with a market capitalization of 2.206 billion CNY [1]. - Year-to-date, the stock price has increased by 22.76%, but it has seen a decline of 2.61% over the last five trading days and 8.35% over the last 20 days [2]. - The stock has experienced a 3.96% increase over the last 60 days [2]. Financial Performance - For the period from January to June 2025, SenTai Co., Ltd. achieved an operating income of 503 million CNY, representing a year-on-year growth of 20.96%. However, the net profit attributable to shareholders decreased by 19.97% to 31.1848 million CNY [2]. Shareholder Information - As of June 30, 2025, the number of shareholders was 8,540, a decrease of 2.89% from the previous period. The average number of circulating shares per person increased by 2.97% to 5,157 shares [2]. - The company has distributed a total of 100 million CNY in dividends since its A-share listing [3]. - Notably, the seventh largest circulating shareholder is the Noan Multi-Strategy Mixed A fund, which holds 555,100 shares as a new shareholder [3].

创业板风险提示 本次发行股票拟在创业板上市，创业板公司具有创新投入大、新旧产业融合存在不确 定性、尚处于成长期、经营风险高、业绩不稳定、退市风险高等特点，投资者面临较大的 市场风险。投资者应充分了解创业板的投资风险及本公司所披露的风险因素，审慎作出投 资决定。 安徽森泰木塑集团股份有限公司 ANHUI SENTAI WPC GROUP SHARE CO.,LTD. （安徽省宣城市广德经济开发区国华路） 首次公开发行股票并在创业板上市 招股说明书 保荐人（主承销商） 中国（上海）自由贸易试验区浦明路 8 号 安徽森泰木塑集团股份有限公司 招股说明书 发行人声明 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对发行 人注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其 对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任 何与之相反的声明均属虚假不实陈述。 根据《证券法》的规定，股票依法发行后，发行人经营与收益的变化，由发 行人自行负责；投资者自主判断发行人的投资价值，自主作出投资决策，自行承 担股票依法发行后因发行人经营与收益变化或者股票价格变动引致的投资风险。 ...

安徽森泰木塑集团股份有限公司 首次公开发行股票并在创业板上市发行公告 保荐人（主承销商）： 特别提示 根据中国证券监督管理委员会（以下简称"中国证监会"）《上市公司行业分 类指引》（2012 年修订），安徽森泰木塑集团股份有限公司（以下简称"森泰股份"、 "发行人"或"公司"）所处行业为"C26 化学原料和化学制品制造业"和"C42 废弃资源综合利用业"。本次发行价格 28.75 元/股对应的发行人 2021 年扣除非经常 性损益前后孰低的归母净利润摊薄后市盈率为43.28倍，高于中证指数有限公司2023 年 3 月 30 日（T-4 日）发布的"C26 化学原料和化学制品制造业"最近一个月平均 静态市盈率 17.93 倍，超出幅度为 141.38%；高于中证指数有限公司 2023 年 3 月 30 日（T-4 日）发布的"C42 废弃资源综合利用业"最近一个月平均静态市盈率 21.52 倍，超出幅度为 101.12%；也高于可比公司 2021 年扣除非经常性损益后归属于母公 司股东净利润的平均静态市盈率 27.89 倍，存在未来发行人股价下跌给投资者带来 损失的风险。发行人和保荐人（主承销商）提请投资者关注 ...

审计报告 安徽森泰木塑集团股份有限公司 容诚审字[2022]230Z3960 号 容诚会计师事务所 (特殊普通合伙) 中国 · 北京 3-2-1-1 北京注册会计师协会 业务报告统一编码报备系统 | 业务报备统一编码: | 110100322022627012657 | | --- | --- | | 报告名称: | 安徽森泰木塑集团股份有限公司审计报告 | | 报告文号: | 容诚审字[2022]230Z3960号 | | 被审(验)单位名称: | 安徽森泰木塑集团股份有限公司 | | 会计师事务所名称: | 容诚会计师事务所(特殊普迪合伙) | | 业务类型: | 财务报表审计 | | 报告意见类型: | 无保留意见 | | 报告日期: | 2022年09月16日 | | 报备日期: | 2022年09月27日 | | 祭字注册会计师: | 宁云(340100030076), 鲍灵姬(110100320073), | | | 李淑玮(110100320418) | | (可通过扫描二维码或登录北京注协官网输入编码的方式查询信息) | | 说明：本备案信息仅证明该报告已在北京注册会计师协会报备，不代表北 京 ...

创业板风险提示 本次发行股票拟在创业板上市，创业板公司具有创新投入大、新旧产业融合存在不确 定性、尚处于成长期、经营风险高、业绩不稳定、退市风险高等特点，投资者面临较大的 市场风险。投资者应充分了解创业板的投资风险及本公司所披露的风险因素，审慎作出投 资决定。 安徽森泰木塑集团股份有限公司 ANHUI SENTAI WPC GROUP SHARE CO.,LTD. （安徽省宣城市广德经济开发区国华路） 首次公开发行股票并在创业板上市 招股意向书 保荐人（主承销商） 中国（上海）自由贸易试验区浦明路 8 号 安徽森泰木塑集团股份有限公司 招股意向书 发行人声明 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对发行 人注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其 对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任 何与之相反的声明均属虚假不实陈述。 根据《证券法》的规定，股票依法发行后，发行人经营与收益的变化，由发 行人自行负责；投资者自主判断发行人的投资价值，自主作出投资决策，自行承 担股票依法发行后因发行人经营与收益变化或者股票价格变动引致的投资风险。 ...

创业板风险提示 本次发行股票拟在创业板上市，创业板公司具有创新投入大、新旧产业融合存在不确 定性、尚处于成长期、经营风险高、业绩不稳定、退市风险高等特点，投资者面临较大的 市场风险。投资者应充分了解创业板的投资风险及本公司所披露的风险因素，审慎作出投 资决定。 安徽森泰木塑集团股份有限公司 ANHUI SENTAI WPC GROUP SHARE CO.,LTD. （安徽省宣城市广德经济开发区国华路） 首次公开发行股票并在创业板上市 招股说明书 （注册稿） 声明：本公司的发行申请尚需经深圳证券交易所和中国证监会履行相应程序。本招股 说明书不具有据以发行股票的法律效力，仅供预先披露之用。投资者应当以正式公告的招 股说明书作为作出投资决定的依据。 保荐人（主承销商） 中国（上海）自由贸易试验区浦明路 8 号 安徽森泰木塑集团股份有限公司 招股说明书（注册稿） 发行人声明 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对发行 人注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其 对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。任 何与之相反的声明均属虚假不实陈述。 ...