Core Viewpoint - Hars (002615) reported a revenue of 1.571 billion yuan in the first half of 2025, representing a year-on-year growth of 12.83%, with a net profit attributable to shareholders of 91.35 million yuan, successfully navigating international trade frictions and tariff wars through strategic adjustments and overseas capacity expansion [1] Group 1: Overseas Capacity Expansion - The company accelerated its overseas capacity layout to address challenges from international trade frictions and tariff wars, achieving full production at its Thailand Phase I factory in early 2023 and completing Phase II during the reporting period [1] - Hars implemented a mixed support mechanism of "domestic experts + local talents" to ensure rapid delivery of high-quality products, receiving positive feedback from core customers [1] - The Thailand base has been upgraded to a flagship center for global cup and kettle manufacturing, enhancing local operations and integrating into local policies and cultural environments [1] Group 2: Brand Development and Market Strategy - Hars is steadily developing its own brand, capitalizing on the low concentration and high consumption frequency in the Chinese cup and kettle industry, completing a dual upgrade of its brand center [2] - The company has launched 40 new products, increasing the pace of new releases from biannual iterations to monthly updates and quarterly major launches [2] - A multi-channel network has been established, combining offline, online, new retail penetration, private domain retention, and instant retail, along with a channel ROI evaluation model to optimize performance [2] Group 3: Customer Structure Optimization - Hars adopted a strategy of "stabilizing existing customers, increasing new customers, and focusing on quality" to optimize its customer structure, maintaining traditional business volume with core customers while expanding into new markets [2] - The company diversified its order sources by acquiring new projects and products from core customers and exploring new customers in new regions [2] Group 4: Product Innovation and R&D - Hars enhanced its R&D management to quickly translate technological strengths into core competitive advantages, focusing on market demands and potential opportunities [3] - The company actively develops new materials, technologies, and processes, improving the quality and efficiency of OEM product development [3] - Hars emphasizes manufacturing delivery capabilities, technological R&D advantages, brand channel strengths, and talent-driven advantages, continuously upgrading its smart manufacturing capabilities [3]

Core Viewpoint - Zhejiang Hars Vacuum Vessel Co., Ltd. is planning to issue ordinary shares to specific investors, with the aim of raising up to 754.90 million RMB for various projects, including the "Hars Future Intelligent Creation" project [5][9][10]. Group 1: Issuance Details - The company will issue domestic listed ordinary shares (A shares) with a par value of 1.00 RMB per share [6]. - The issuance will be conducted through a specific object issuance method, subject to approval from the Shenzhen Stock Exchange and the China Securities Regulatory Commission (CSRC) [6][7]. - The issuance will target no more than 35 specific investors, including qualified institutional investors and other eligible entities [6][7]. Group 2: Financial Aspects - The total amount to be raised from this issuance is capped at 754.90 million RMB, with the net proceeds intended for specific projects after deducting issuance costs [9][10]. - The maximum number of shares to be issued will not exceed 30% of the company's total share capital prior to the issuance, amounting to no more than 139,880,319 shares [8][10]. Group 3: Approval and Authorization - The company's board of directors approved the issuance plan on March 5, 2025, and the relevant resolutions were passed at the shareholders' meeting on March 21, 2025 [5][11]. - The authorization for the issuance is valid for twelve months from the date of the shareholders' meeting [10]. Group 4: Shareholder Structure - As of December 31, 2024, the largest shareholder is Lü Qiang, holding 176,327,685 shares, which is approximately 37.81% of the total share capital [12][13]. - The top ten shareholders collectively hold a significant portion of the company's shares, with no major changes in the control structure during the review period [12][14]. Group 5: Business Operations - The company's main business remains focused on the research, design, production, and sales of various types of cup and pot products, with no changes reported during the review period [17][23]. - The company has obtained various necessary licenses and certifications, including high-tech enterprise certificates and industrial product production licenses, ensuring compliance with regulatory requirements [18][19][20].