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On August 14, Zhejiang Weihua New Materials Co., Ltd. (hereinafter referred to as "Weihua New Materials", SH: 603310) was listed on the main board of the Shanghai Stock Exchange. In this listing, Weihua New Materials' issue price was 17.39 yuan per share, the number of shares issued was 86.34 million shares, the total amount of funds raised was approximately 1.668 billion yuan, and the net amount of funds raised was approximately 1.412 billion yuan, but the amount of funds raised was reduced by 500 million yuan from the original plan.

The large dividends received by the company's executive and founder Wu Shunhua and the company's performance after listing that was significantly different from expectations have attracted widespread attention from the market and investors.

According to public information, from 2021 to 2023, Weihua New Materials' revenue was 1.424 billion yuan, 1.776 billion yuan, and 1.486 billion yuan, respectively, and its net profit was 431 million yuan, 622 million yuan, and 499 million yuan, respectively.

However, since 2023, the company's performance has begun to decline.

In the first quarter of this year, the company's main revenue was only 310 million yuan, and its net profit dropped to 91 million yuan, down 32.65% and 47.90% year-on-year respectively.