Stock Code: 300706 Stock Abbreviation: Acetron
Response to the Audit Inquiry Letter Regarding the Application for Issuance of Shares to Specific Targets by Fujian Acetron New Materials Co., Ltd.
Sponsor (Lead Underwriter): Changjiang Financing Services Co., Ltd.
Address: Rooms 302-1, 302-2, 303-3, No. 128 Beizhangjiabang Road, China (Shanghai) Pilot Free Trade Zone
August 2026
Shenzhen Stock Exchange:
Fujian Acetron New Materials Co., Ltd. (hereinafter referred to as the "Company," "Issuer," or "Acetron") received the "Audit Inquiry Letter Regarding the Application for Issuance of Shares to Specific Targets by Fujian Acetron New Materials Co., Ltd." (Audit Letter [2026] No. 020035) (hereinafter referred to as the "Inquiry Letter") issued by your exchange on May 6, 2026. The Company, in conjunction with Changjiang Financing Services Co., Ltd. (hereinafter referred to as "Changjiang Financing," "Sponsor Institution," or "Sponsor"), Guotai Law Firm (Fuzhou) (hereinafter referred to as "Lawyer" or "Issuer's Lawyer"), and WUYIGE Certified Public Accountants LLP (hereinafter referred to as "Accountant"), has conducted a thorough study and implementation, and has supplemented information and provided responses to the matters involved in accordance with the requirements of the Inquiry Letter. We hereby submit this to your exchange for review. Unless the context otherwise requires, the abbreviations used in this response to the Inquiry Letter have the same meanings as those in the "Fujian Acetron New Materials Co., Ltd. 2025 Annual Prospectus for Issuance of A-Shares to Specific Targets" (hereinafter referred to as the "Prospectus").
The financial data analysis in this response to the Inquiry Letter involving the period from January to March 2026 and as of March 31, 2026, refers to the reporting period of "2023, 2024, 2025, and January-March 2026." The financial data for January-March 2026 and as of March 31, 2026, in this response is unaudited.
The font specifications for this response to the Inquiry Letter are as follows:
| Item | Font Style |
|---|---|
| Questions listed in the Inquiry Letter | Bold, Black |
| Responses to questions listed in the Inquiry Letter | Songti |
| Modifications to application documents such as the Prospectus | KaiTi, Bold |
In this response to the Inquiry Letter, some totals in the tables may differ slightly from the sum of their individual components due to rounding; unless otherwise specified, the currency involved in this response to the Inquiry Letter is Renminbi.
Table of Contents
Question 1: 3
Question 2: 77
Other Questions: 170
Question 1
According to the application documents, the Company's operating income for each period of the reporting period was 694.8313 million yuan, 957.9273 million yuan, 1,183.0143 million yuan, and 1,092.7573 million yuan, showing a year-on-year increase; net profit attributable to the parent company was 14.0836 million yuan, 12.2724 million yuan, -25.3359 million yuan, and -30.8107 million yuan; the comprehensive gross profit margin was 14.24%, 11.63%, 6.23%, and 4.93%, showing a year-on-year decline; the net cash flow from operating activities was -7.5344 million yuan, -13.6927 million yuan, 60.4868 million yuan, and -27.8808 million yuan, showing significant fluctuations.
During the reporting period, direct materials accounted for a high proportion of the Company's production costs. The main raw materials required for the Company's production are metals, and their prices fluctuate to varying degrees due to market supply and demand. The raw materials for the Company's PVD coating material products include metal materials such as gold, silver, copper, aluminum, molybdenum, and indium, and there are overseas sales. Among them, some materials involved in the Company's business are currently subject to export controls.
The Company adopts a sales model combining domestic and foreign sales. The proportion of overseas sales income for each period of the reporting period was 27.32%, 21.23%, 13.78%, and 11.20%, showing a year-on-year downward trend. The main business of the issuer's subsidiary, Acetron New Materials (Taiwan) Co., Ltd., includes international trade business.