Shenzhen Stock Exchange: We have received your inquiry letter dated November 12, 2025, regarding Shenzhen Huichuangda Technology Co., Ltd.'s application to issue convertible corporate bonds to unspecified objects (Inquiry Letter [2025] No. 020066, hereinafter referred to as "Inquiry Letter"). Shenzhen Huichuangda Technology Co., Ltd. and relevant parties, including Zheshang Securities Co., Ltd., Beijing Kangda Law Firm, and Grant Thornton (Special General Partnership), have diligently and honestly verified and implemented the issues listed in the Inquiry Letter. We now respond as follows for your review.
Regarding the interpretation, format, and supplementary disclosure of the response content:
- Unless otherwise specified, the abbreviations or proprietary terms used in this response have the same meanings as defined in the "Prospectus for the Issuance of Convertible Corporate Bonds to Unspecified Objects by Shenzhen Huichuangda Technology Co., Ltd. (Draft for Filing)." In this response, discrepancies in totals and sub-item values are due to rounding.
- The font in this response report represents the following meanings:
- Questions listed in the Inquiry Letter: Bold font
- Responses to questions listed in the Inquiry Letter: Regular font
- Revisions to responses to questions listed in the Inquiry Letter, modifications to the prospectus: Italicized bold font
Table of Contents
| Item | Page |
|---|---|
| Question 1 | 3 |
| Question 2 | 154 |
| Other Questions | 249 |
Question 1
During the reporting period, the issuer's operating revenues were 827.6088 million yuan, 1.3560711 billion yuan, 1.4735951 billion yuan, and 696.7329 million yuan, respectively. After deducting non-recurring gains and losses, the net profits attributable to the parent company were 124.6872 million yuan, 77.3969 million yuan, 96.5699 million yuan, and 30.6496 million yuan, respectively. The issuer's latest period's net profit after deducting non-recurring gains and losses decreased by 21.56% year-on-year; the net profit after deducting non-recurring gains and losses for 2023 decreased by 37.93%. During the reporting period, the company's comprehensive gross profit margins were 31.79%, 25.51%, 27.20%, and 26.86%, showing some fluctuations. At the end of each reporting period, the issuer's inventory book values were 130.8031 million yuan, 223.0673 million yuan, 280.5295 million yuan, and 322.9043 million yuan, respectively; during the reporting period, the inventory turnover rates were 3.80 times, 5.30 times, 3.93 times, and 3.14 times, respectively. At the end of each reporting period, the issuer's accounts receivable book values were 273.7431 million yuan, 522.4427 million yuan, 477.3212 million yuan, and 448.5216 million yuan, respectively. The bad debt provision for accounts receivable was 17.1019 million yuan, 28.1852 million yuan, 36.5026 million yuan, and 35.4692 million yuan, accounting for 5.88%, 5.12%, 7.10%, and 7.33% of the accounts receivable balance at the end of the period, respectively. At the end of the most recent reporting period, the issuer's goodwill was 159.4492 million yuan. In 2023, the company acquired 100% of Dongguan Xinweixing Electronics Co., Ltd. (hereinafter referred to as Xinweixing) through the issuance of shares and cash payment, increasing the original value of goodwill by 159.4492 million yuan at the end of 2023, and set performance commitments for the three-year period from 2022 to 2024, promising net profits after deducting non-recurring gains and losses of 40 million yuan, 44 million yuan, and 48 million yuan, respectively. Xinweixing achieved net profits after deducting non-recurring gains and losses of 39.6976 million yuan, 46.3762 million yuan, and 51.4968 million yuan from 2022 to 2024, respectively.