Group 1 - The company *ST Jinglun (600355) announced a preliminary performance forecast for the first half of 2025, expecting a net loss attributable to shareholders of the parent company between -19 million and -22 million yuan [1] - The expected net profit excluding non-recurring gains and losses is also projected to be between -19 million and -22 million yuan, compared to a net loss of -20.11 million yuan in the same period last year [1] - The company anticipates revenue of approximately 83 million yuan, a 23.5% increase from 66.96 million yuan in the previous year, but overall gross profit is insufficient to cover operating expenses, leading to losses [1] Group 2 - *ST Jinglun has reported a continuous net loss for six consecutive years since 2019, with negative cash flow from operating activities for the past five years [1] - The company was established in 1994 and became the first publicly listed company in China initiated entirely by natural persons in 2002 [2] - Due to negative audited profits and revenues below 300 million yuan, the company's stock was subject to delisting risk warnings [2] Group 3 - The company's stock was suspended for one day on April 28 and resumed trading the next day under the new name "*ST Jinglun" [3] - In the secondary market, *ST Jinglun's stock opened lower but rose by 4.32%, trading at 2.9 yuan per share at the time of reporting [4]

Core Viewpoint - The company Huazhi Jie has initiated a public offering of 25 million shares, with an online subscription of 8 million shares priced at 19.88 yuan, reflecting a price-to-earnings ratio of 13.05 times, which is significantly lower than the industry average of 34.45 times [1][2]. Company Information - The company is positioned in the smart control industry, focusing on lithium battery power management, smart control, and brushless motor drive and control technologies [1]. - Huazhi Jie primarily provides effective power management and drive system solutions for lithium battery electric tools and consumer electronics [1]. Offering Details - Total shares issued: 25 million - Online subscription shares: 8 million - Subscription code: 732400 - Subscription price: 19.88 yuan - Issuance price-to-earnings ratio: 13.05 times - Maximum subscription per account: 8,000 shares - Subscription quantity must be in multiples of 500 shares [2]. Fundraising Purpose - Investment in the annual production expansion project for 86.5 million smart components for electric tools: 426.0858 million yuan - Supplementing working capital: 60 million yuan [2]. Financial Metrics - Total assets (2024): 13.52 billion yuan, up from 10.29 billion yuan in 2023 and 8.75 billion yuan in 2022 - Net assets (2024): 7.35 billion yuan, compared to 5.89 billion yuan in 2023 and 4.64 billion yuan in 2022 - Operating revenue (2024): 12.30 billion yuan, an increase from 9.37 billion yuan in 2023 and 10.19 billion yuan in 2022 - Net profit (2024): 1.54 billion yuan, up from 1.21 billion yuan in 2023 and 1.01 billion yuan in 2022 - Basic earnings per share (2024): 2.05 yuan, compared to 1.62 yuan in 2023 and 1.34 yuan in 2022 - Weighted return on equity (2024): 23.19%, slightly up from 23.08% in 2023 and 21.97% in 2022 [2].