Investment Rating - The report maintains a "Buy" rating for the company, anticipating a price increase of over 15% in the next 6-12 months [4][11]. Core Insights - The company announced the establishment of an AI-driven international supply chain technology platform, marking the official launch of its globalization strategy. The platform aims to provide comprehensive solutions for small and micro enterprises in the global supply chain, including flexible supply chain services, financial support, currency management, and digital empowerment [2]. - The company has formed partnerships with over 30 international financial institutions and several leading regional and industry players, actively expanding its business in Southeast Asia. Notable collaborations include providing cross-border supply chain services for Carro, assisting Chinese merchants on Shopee, and partnering with Shein's core suppliers to explore markets in Vietnam and Morocco [3]. - The platform will incorporate blockchain technology and promote the tokenization of real-world assets (RWA), transforming high-quality international supply chain assets into standardized, traceable digital assets on the blockchain, thereby enhancing capital turnover efficiency in the global supply chain [3]. - The company is expected to see continued growth in its e-commerce, AI, and robotics sectors, which will drive the expansion of its supply chain technology platform. The increasing proportion of high-value-added revenue is anticipated to optimize the overall fee structure and improve profitability [4]. Financial Projections - The company forecasts revenue growth from RMB 1,068 million in 2023 to RMB 2,180 million by 2027, with a compound annual growth rate (CAGR) of approximately 28% [9]. - The projected net profit attributable to the parent company is expected to rise from RMB 268 million in 2023 to RMB 1,014 million by 2027, reflecting a CAGR of 44% [9]. - The expected dividend payout for 2025 is approximately RMB 950 million, resulting in a projected dividend yield of 8.3% [4].

Performance Summary - China Petroleum & Chemical Corporation (00386.HK) reported a revenue of 1,409.05 billion yuan, a decrease of 10.6% year-on-year, and a net profit of 21.483 billion yuan, down 39.8% year-on-year [2] - Kuaishou Technology (01024.HK) achieved a revenue of 67.654 billion yuan, an increase of 12.04% year-on-year, with a net profit of 8.9 billion yuan, up 9.9% year-on-year [2] - China National Pharmaceutical Group (01099.HK) recorded a revenue of 36.363 billion yuan, a decrease of 1.48% year-on-year, and a net profit of 295 million yuan, an increase of 1.02% year-on-year [2] - Miniso Group (09896.HK) reported a revenue of 9.393 billion yuan, a growth of 21.1% year-on-year, but a net profit of 906 million yuan, down 22.6% year-on-year [2] - Tuhu (09690.HK) had a revenue of 7.9 billion yuan, an increase of 10.5% year-on-year, with an adjusted net profit of 410 million yuan, up 14.6% year-on-year, and the number of stores increased to 7,205 [2] - Bilibili Inc. (09626.HK) reported a second-quarter revenue of 7.338 billion yuan, an increase of 19.76% year-on-year, and a net profit of 219 million yuan, turning from a loss of 609 million yuan in the same period last year [2] - Zaitong (00062.HK) achieved a revenue of 4.226 billion HKD, an increase of 3.98% year-on-year, and a net profit of 190 million HKD, up 57.94% year-on-year [2] - Xincheng Power (01148.HK) reported a revenue of 2.804 billion yuan, an increase of 7.06% year-on-year, but a net profit of 16.49 million yuan, down 25.49% year-on-year [2] - Fourth Paradigm (06682.HK) achieved a revenue of 2.626 billion yuan, an increase of 40.71% year-on-year, with an adjusted net loss of 44 million yuan, narrowing by approximately 71.2% from a loss of 152 million yuan in the same period last year [2] - Meilian Group (01200.HK) reported a revenue of 2.518 billion HKD, a decrease of 24.1% year-on-year, and a net profit of 151 million HKD, down 13% year-on-year [2] - Baisheng Group (03368.HK) achieved a revenue of 1.963 billion yuan, an increase of 0.93% year-on-year, and a net profit of 22.468 million yuan, turning from a loss of 18.641 million yuan in the same period last year [2] - Yuexiu Services (06626.HK) reported a revenue of approximately 1.962 billion yuan, a slight increase of 0.09% year-on-year, with a net profit of approximately 240 million yuan [2] - Yika (09923.HK) achieved a revenue of 1.64 billion yuan, an increase of 4% year-on-year, and a net profit of 43.075 million yuan, up 36.2% year-on-year [2] - Gaoweidianzi (01415.HK) reported a revenue of 1.36 billion USD, an increase of 132.2% year-on-year, with a net profit of 67.398 million USD, up approximately 320% year-on-year [2] - BOC Aviation (02588.HK) achieved a revenue of 1.242 billion USD, an increase of 6% year-on-year, but a net profit of 342 million USD, down 26% year-on-year [2] - Jiuxing Holdings (01836.HK) reported a revenue of 775 million USD, an increase of 0.7% year-on-year, but a net profit of 78.633 million USD, down 14.5% year-on-year [2] - Sinopec Kantons Holdings (00934.HK) reported a revenue of approximately 307 million HKD, a decrease of 7.2% year-on-year, and a net profit of approximately 563 million HKD, down 17.8% year-on-year [2] - Great Wall Holdings (00583.HK) issued a profit warning, expecting a mid-term net loss of 266 million to 294 million HKD, a significant shift from profit to loss [2] Company News - Shengye (06069.HK) has initiated a global strategic layout to build an AI + international supply chain technology platform [2] - Yuan Zheng Technology (02488.HK) plans to develop a strategic layout for equipment assetization and related RWA applications [2] - Oconview Biosciences (01477.HK) announced that the second Phase III clinical trial of OT-301 has reached its primary endpoint [2] Buyback Activities - Tencent Holdings (00700.HK) repurchased 928,000 shares at a cost of 551 million HKD, with a buyback price ranging from 590 to 597 HKD [2] - HSBC Holdings (00005.HK) repurchased approximately 1.33 million shares at a cost of about 132 million HKD, with a buyback price ranging from 98.6 to 99.55 HKD [2] - Techtronic Industries (00669.HK) repurchased approximately 25,000 shares at a cost of about 25.085 million HKD, with a buyback price ranging from 99.5 to 101.6 HKD [2] - Hang Seng Bank (00011.HK) repurchased 200,000 shares at a cost of 22.4935 million HKD, with a buyback price ranging from 111.8 to 112.8 HKD [2]

Core Viewpoint - The company is launching a global strategy to establish an AI-driven international supply chain technology platform aimed at supporting small and medium-sized enterprises (SMEs) in expanding their global market presence by providing comprehensive solutions including flexible supply chain services, financial support, currency management, and digital empowerment [1][6] Group 1: Globalization Strategy - The company will officially start its globalization layout on August 21, 2025, after establishing its international headquarters in Singapore [1] - The platform will leverage cutting-edge technologies such as AI models and AI Agents to optimize resource allocation and enhance the efficiency of global supply chain operations [1][3] Group 2: Existing Partnerships and Collaborations - The company has already formed partnerships with over 30 international financial institutions and various influential regional or industry partners, particularly in Southeast Asia [2] - Collaborations include providing cross-border supply chain services for major platforms like Carro and Shopee, and expanding into markets like Vietnam and Morocco with partners such as Sinbada [2] Group 3: Technology and Innovation - The technology platform will utilize AI Agent technology to connect with leading international companies, enabling real-time data analysis and enhancing operational efficiency [3] - The company plans to adopt blockchain technology and explore Web3.0 applications to improve cross-border payment efficiency and create standardized digital assets from quality international supply chain assets [4] Group 4: Strategic Partnerships and Talent Acquisition - The company aims to attract strategic partners with global resources to support its international headquarters and accelerate business expansion [5] - A global team with international vision and local industry insights will be established to integrate local resources and enhance operational capabilities [5] Group 5: Market Context and Future Outlook - The company is positioned to support the development of global supply chains and SMEs amidst deep adjustments in the industry and rapid digital transformation [6]

Core Viewpoint - The company is launching a global strategy to establish an AI-driven international supply chain technology platform aimed at supporting small and medium-sized enterprises (SMEs) in expanding their global market presence by providing comprehensive solutions including flexible supply chain services, financial support, currency management, and digital empowerment [1][6] Group 1: Globalization Strategy - The company will officially start its globalization layout on August 21, 2025, after establishing its international headquarters in Singapore [1] - The global strategy is built on an existing foundation of partnerships with over 30 international financial institutions and collaborations with influential regional partners in Southeast Asia [2] Group 2: AI-Driven Technology Platform - The technology platform will utilize AI Agent technology to connect with leading international enterprises, enabling real-time data capture and analysis to enhance operational efficiency and market competitiveness [3] - The platform aims to efficiently match verified supply chain funding needs with international funding sources, leveraging multi-dimensional data for better assessment models [3] Group 3: Web 3.0 Innovations - The company plans to integrate stablecoin applications for cross-border payments, significantly improving transaction speed and reducing costs compared to traditional wire transfer systems [4] - The exploration of Real World Asset (RWA) tokenization will convert quality international supply chain assets into standardized, traceable digital assets, enhancing their appeal to global institutional investors [4] Group 4: Strategic Partnerships and Talent Development - The company intends to introduce strategic partners with global resources to strengthen core ecosystem links and accelerate business expansion [5] - A global team with international vision, local industry insights, and technological research capabilities will be established to support the globalization strategy [5] Group 5: Industry Context - The company is positioned to provide robust support for the development of global supply chains and SMEs amidst deep adjustments in the supply chain and accelerated digital transformation [6]

Core Viewpoint - The company is launching a global supply chain technology platform driven by AI, aimed at supporting small and medium enterprises (SMEs) in expanding their global market presence and enhancing supply chain efficiency [1][7]. Globalization Strategy Layout - The company will implement a platform-based strategy to create an "International Supply Chain Technology Platform" that utilizes advanced technologies like AI models and AIAgent to optimize resource allocation and facilitate efficient trade [2]. Established Global Partnerships - The company has already formed partnerships with influential international entities, particularly in Southeast Asia, to enhance its business resources and support cross-border supply chain services [3]. AI Agent-Driven Technology Platform - The technology platform will connect with leading international companies and utilize AIAgent technology to gather and analyze multidimensional data from real trade scenarios, improving operational efficiency and market competitiveness [4]. Web3.0 Innovation Applications - The company aims to leverage blockchain technology and explore the application of stablecoins for cross-border payments, enhancing transaction efficiency and creating transparent digital assets from quality international supply chain assets [5]. Strategic Partner and Global Talent Layout - To support its globalization strategy, the company plans to introduce strategic partners with global resources and build a team with international vision and local industry insights, while also making strategic investments to enhance its operational capabilities [6]. Comprehensive Solutions for SMEs - The company will provide a one-stop solution for SMEs, including flexible supply chain services, financial support, currency management, and digital empowerment, to help them efficiently expand in the global market [7].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全 部 或 任 何 部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 SY HOLDINGS GROUP LIMITED 盛業控股集團有限公司 （於開曼群島註冊成立之有限公司） （股份代號：6069） 自願性公告 啟動全球化戰略佈局－打造AI+國際供應鏈科技平台 本 公 告 乃 由 盛 業 控 股 集 團 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」或「盛 業」）自 願 作 出。 茲提述本公司於2025年7月29日 及2025年8月8日 就設立新加坡國際總部及探索 Web3.0生 態 和 穩 定 幣 創 新 應 用 場 景 刊 發 的 自 願 性 公 告。本 公 司 董 事 會（「董事會」） 進 一 步 欣 然 宣 佈，隨 著 全 球 產 業 供 應 鏈 深 度 調 整 及 數 字 化 浪 潮 席 捲 全 球 貿 易，本 集 團 在 設 立 新 加 坡 國 際 總 部 後，於2025 ...

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Core Insights - The company reported a slight decline in revenue for the first half of 2025, achieving 405 million yuan, a decrease of 7.1% year-on-year, while net profit increased by 23% to 203 million yuan [1] - The company's light asset strategy has led to a revenue decline, but it has strengthened its technology platform capabilities to meet the supply chain financing needs of small and micro enterprises [1][2] - The growth in net profit aligns with expectations, with adjusted net profit reaching 203.5 million yuan, a year-on-year increase of 22.6% [1] Revenue and Profit Analysis - Revenue from platform technology services reached 210.6 million yuan, a year-on-year increase of 37%, accounting for 52% of total revenue, up 14 percentage points [1] - Digital financial solutions revenue declined by 29.5% to 194.02 million yuan [1] Client and Funding Growth - The platform's cumulative client base grew to 19,128, an increase of 1,015 clients compared to the end of 2024 [2] - The platform has helped clients resolve 278 billion yuan in funding turnover, an increase of 29 billion yuan from the end of 2024 [2] - The number of funding partners increased by 31% year-on-year to 181, with a credit limit of 38.497 billion yuan, up 28% year-on-year [2] Supply Chain Asset and Industry Outlook - As of the end of the first half of 2025, the supply chain asset balance was 26.4 billion yuan, a year-on-year increase of 10.5% [2] - The company anticipates growth in the e-commerce and robotics sectors, having provided over 2.8 billion yuan in loans to e-commerce businesses [2] - A strategic partnership with Stand Robotics aims to enhance supply chain services and AI applications [2] Investment Rating - The company maintains a "buy" rating, with expectations for continued rapid growth in supply chain finance and fintech services [3] - Adjusted net profit forecasts for 2025, 2026, and 2027 are slightly lowered to 497.43 million yuan, 655.01 million yuan, and 821.54 million yuan, respectively [3] - Current stock price corresponds to a PE ratio of 22, 17, and 14 for the respective years, indicating attractive valuation and dividend potential [3]

Core Viewpoint - Shengye (06069) reported a mixed performance in its interim results, with a decline in revenue but a significant increase in net profit, reflecting the impact of its strategic transformation and innovation initiatives [1] Financial Performance - The company achieved a revenue of 405 million yuan in the first half of the year, representing a year-on-year decrease of 7.1% [1] - The net profit attributable to shareholders was 200 million yuan, showing a year-on-year increase of 28.7% [1] Strategic Initiatives - The decline in revenue is attributed to the company's ongoing shift towards a light-asset strategy, which has led to reduced interest income from self-owned capital investments and a continuous decrease in income from supply chain asset refinancing [1] - The successful implementation of the platformization strategy has partially offset the negative impact on revenue [1] Future Outlook - Guojin Securities remains optimistic about the company's strategic positioning in e-commerce, AI, and robotics, anticipating that these sectors will continue to drive the expansion of its supply chain technology platform [1] - The company is expected to enhance its overall profitability as the proportion of high-value-added income increases, indicating further optimization of its fee structure [1] - The projected total dividend payout for 2025 is approximately 950 million yuan, corresponding to an expected dividend yield of 8.6%, providing substantial returns to shareholders [1] - The forecast for the company's net profit attributable to shareholders for 2025 is 512 million yuan, reflecting a year-on-year growth of 35% [1]

Core Viewpoint - Shengye (06069) reported a mixed performance in its interim results, with a decline in revenue but an increase in net profit, reflecting the impact of its strategic transformation and successful platform initiatives [1] Financial Performance - The company achieved a revenue of 405 million yuan in the first half of the year, a year-on-year decrease of 7.1% [1] - The net profit attributable to shareholders was 200 million yuan, representing a year-on-year increase of 28.7% [1] Strategic Insights - The decline in revenue is attributed to the company's ongoing shift towards a light-asset strategy, which has led to reduced interest income from self-owned capital investments and a continuous drop in income from supply chain asset refinancing [1] - The successful advancement of the platform strategy has partially offset the negative impact of the revenue decline [1] Future Outlook - The company is expected to continue benefiting from its strategic positioning in e-commerce, AI, and robotics, which are anticipated to drive the expansion of its supply chain technology platform [1] - There is potential for further optimization of the overall fee structure as the proportion of high-value-added income increases, which could enhance profitability [1] - The projected total dividend payout for 2025 is approximately 950 million yuan, corresponding to an expected dividend yield of 8.6%, providing substantial returns to shareholders [1] - The forecast for the company's net profit attributable to shareholders in 2025 is 512 million yuan, reflecting a year-on-year growth of 35% [1]