Core Viewpoint - The financial performance of Tietuo Machinery has significantly declined in 2023, with both revenue and net profit showing a downward trend after its IPO in early 2024, marking a shift from previous growth patterns [1][2]. Financial Performance - For the first three quarters of 2023, Tietuo Machinery reported revenue of approximately 302 million yuan, a year-on-year decrease of 13.80%, and a net profit of 35 million yuan, down 14.25% [1][2]. - In Q3 2023, revenue was 83 million yuan, reflecting an 11.23% decline year-on-year, while net profit dropped by 37.95% to 5 million yuan [1]. - Revenue growth has slowed from 47.10% in 2022 to 10.54% in 2024, with a reported revenue of 301 million yuan for the first three quarters of 2023 [2]. Cost Management - Tietuo Machinery has been focusing on cost reduction, with total costs increasing from 255 million yuan in 2022 to 318 million yuan in 2024, but showing a decrease in the first three quarters of 2025 [2]. - The total costs for the first three quarters of 2023 were reported at 261 million yuan, down 13.00% compared to the previous quarter [2]. Cash Flow Analysis - Cash received from sales for 2022-2024 was 393 million yuan, 409 million yuan, and 411 million yuan respectively, with a decline to 292 million yuan in the first three quarters of 2023, an 8.46% decrease year-on-year [3]. - The net cash flow from operating activities has shown a gradual decline, with a significant increase of 301.53% to 28 million yuan in the first three quarters of 2023 compared to the previous year [3]. Capital Expenditure and Future Prospects - Tietuo Machinery raised approximately 147 million yuan through its IPO, with investments planned for intelligent production of asphalt equipment and a research center [4]. - The company's construction in progress increased from 2.96 million yuan at the end of 2023 to 121 million yuan in the first three quarters of 2023 [4]. - Despite a decline in main business revenue, the company has seen growth in certain product lines, such as a 22.12% increase in revenue from original asphalt mixing equipment [4].

福建省铁拓机械股份有限公司 福建省泉州市洛江区河市镇洛江区智能装备产业园 1 号 福建省铁拓机械股份有限公司招股说明书（申报稿） 本公司的发行申请尚未经中国证监会注册。本招股说明书申报稿不具有据以发行股票的法律效 力，投资者应当以正式公告的招股说明书全文作为投资决定的依据。 本次股票发行后拟在北京证券交易所上市，该市场具有较高的投资风险。北京证券交易所主要 服务创新型中小企业，上市公司具有经营风险高、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。投资者应充分了解北京证券交易所市场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。 保荐人（主承销商） （济南市市中区经七路 86 号） 证券简称：铁拓机械 证券代码：873706 中国证监会和北京证券交易所对本次发行所作的任何决定或意见，均不表明其对注册申 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者保证。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 ...