从资金流向上来看，当日包装印刷板块主力资金净流出1.9亿元，游资资金净流出101.37万元，散户资金 净流入1.91亿元。包装印刷板块个股资金流向见下表： | 代码 | 名称 | | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 603429 | 集友股份 | | 2944.50万 | 9.30% | -38.67万 | -0.12% | -2905.84万 | -9.18% | | 603058 | 永吉股份 | 1657.81万 | | 8.78% | 117.17万 | 0.62% | -1774.98万 | -9.40% | | 002846 | 英联股份 | 1392.80万 | | 4.67% | -618.90万 | -2.08% | -773.90万 | -2.60% | | 300501 | 海顺新材 | 1058.22万 | | 9.10% | -597.18万 | -5.14% | -461.04万 | ...

Market Overview - The packaging and printing sector experienced a decline of 0.25% on September 19, with Yongji Co. leading the drop [1] - The Shanghai Composite Index closed at 3820.09, down 0.3%, while the Shenzhen Component Index closed at 13070.86, down 0.04% [1] Stock Performance - Meilelin (002303) saw a significant increase of 10.07%, closing at 4.70, with a trading volume of 767,300 shares and a turnover of 355 million [1] - Other notable gainers included Jiahe Technology (872392) with a 3.70% increase and Jiyou Co. (603429) with a 3.43% increase [1] - Conversely, Yongji Co. (603058) led the decline with a drop of 4.02%, closing at 9.30, and a trading volume of 276,300 shares [2] Capital Flow - The packaging and printing sector saw a net outflow of 94.71 million from institutional investors, while retail investors contributed a net inflow of 128 million [2] - The capital flow data indicates that retail investors were more active in the market despite the overall decline in the sector [2] Individual Stock Capital Flow - Meilelin (002303) had a net inflow of 109 million from institutional investors, while it faced a net outflow of 50.99 million from speculative funds [3] - Other stocks like Shunhao Co. (002565) and Dashing Co. (603687) also experienced mixed capital flows, with varying levels of institutional and retail investor activity [3]

Market Performance - The packaging and printing sector increased by 0.15% on September 10, with Yongji Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3812.22, up 0.13%, while the Shenzhen Component Index closed at 12557.68, up 0.38% [1] Top Gainers - Yongji Co., Ltd. (603058) closed at 9.47, up 5.22% with a trading volume of 263,500 shares and a turnover of 245 million yuan [1] - Shunhao Co., Ltd. (002565) closed at 7.68, up 5.21% with a trading volume of 635,700 shares and a turnover of 488 million yuan [1] - Zhuhai Zhongfu (000659) closed at 3.24, up 4.52% with a trading volume of 1,616,100 shares and a turnover of 523 million yuan [1] Market Capital Flow - The packaging and printing sector experienced a net outflow of 324 million yuan from institutional investors, while retail investors saw a net inflow of 329 million yuan [2] - The overall market showed a mixed trend with some stocks experiencing significant inflows from retail investors despite the outflow from institutional investors [2] Individual Stock Flow - Shunhao Co., Ltd. had a net inflow of 66.79 million yuan from institutional investors, while retail investors had a net outflow of 62.68 million yuan [3] - Yongji Co., Ltd. saw a net inflow of 3.74 million yuan from institutional investors, with retail investors also experiencing a net outflow of 5.66 million yuan [3] - The overall trend indicates a divergence in investment behavior between institutional and retail investors within the sector [3]

Core Viewpoint - Yongji Co., Ltd. reported mixed financial results for the first half of 2025, with revenue growth but a significant decline in net profit, indicating potential challenges in profitability and cash flow management [1][8]. Financial Performance Summary - Total revenue for the first half of 2025 reached 428 million yuan, an increase of 11.91% year-on-year [1]. - Net profit attributable to shareholders was 56.61 million yuan, down 27.67% compared to the previous year [1]. - The second quarter saw total revenue of 201 million yuan, up 27.06% year-on-year, but net profit dropped 49.2% to 19.18 million yuan [1]. - Gross margin decreased to 32.8%, down 24.95% year-on-year, while net margin fell to 14.67%, a decline of 31.94% [1]. - Total expenses (selling, administrative, and financial) amounted to 63.05 million yuan, accounting for 14.74% of revenue, an increase of 4.24% year-on-year [1]. Key Financial Metrics - Earnings per share (EPS) decreased to 0.13 yuan, down 28.41% year-on-year [1]. - Operating cash flow per share improved to 0.45 yuan, an increase of 54.79% year-on-year [1]. - The company's net assets per share rose to 2.88 yuan, up 9.02% year-on-year [1]. Accounts Receivable and Cash Flow - Accounts receivable represented 108.92% of the latest annual net profit, indicating a significant amount of outstanding payments [8]. - The company experienced a 42.09% decrease in accounts receivable due to increased customer payments [2]. - Cash flow from operating activities increased by 54.76%, attributed to higher cash collections from customers [7]. Investment and Financing Activities - The company reported a 110.98% increase in short-term borrowings, reflecting a rise in working capital loans [5]. - Cash flow from investing activities decreased by 122.25%, due to increased cash payments for acquisitions [7]. - Cash flow from financing activities fell by 86.11%, primarily due to higher debt repayments [7]. Business Evaluation - The company's return on invested capital (ROIC) was 11.13%, indicating average capital returns [7]. - Historical data shows a median ROIC of 12.32% since its listing, with the lowest ROIC recorded at 2.53% in 2022 [7].

Core Insights - The company reported a revenue of 427.80 million yuan for the first half of 2025, representing a year-on-year increase of 11.91% [1] - The net profit attributable to shareholders decreased to 56.61 million yuan, a decline of 27.67% compared to the previous year [1] - The premium paper packaging business generated a revenue of 280.54 million yuan, showing a year-on-year decrease of 9.52% [1] - The overseas controlled pharmaceutical-related business achieved a revenue of 113.73 million yuan, marking a significant year-on-year growth of 101.13% [1]

Core Viewpoint - Guizhou Yongji Printing Co., Ltd. reported a decline in net profit and revenue for the first half of 2025, primarily due to increased competition in the printing and packaging industry and a decrease in product prices, particularly in the paper packaging segment [2][3][12]. Company Overview and Financial Indicators - The company’s revenue for the first half of 2025 was approximately 427.80 million yuan, an increase of 11.91% compared to the same period last year [2][3]. - Total profit for the period was about 74.79 million yuan, a decrease of 23.30% year-on-year [2][3]. - Net profit attributable to shareholders was approximately 56.61 million yuan, down 27.67% from the previous year [2][3]. - The company’s total assets at the end of the reporting period were approximately 1.94 billion yuan, a slight decrease of 0.45% from the previous year [2][3]. Business Performance and Market Conditions - The packaging printing industry is experiencing significant changes due to stricter environmental regulations and a shift towards sustainable packaging solutions, which is driving the demand for high-end paper packaging [3][10]. - The company focuses on high-quality paper packaging products, leveraging advanced printing techniques and surface treatments to meet customer needs [3][10]. - The company has expanded its operations into the regulated pharmaceutical sector, with significant growth in revenue from this segment, which is now a key part of its business strategy [6][10][12]. Operational Insights - The company operates on a "make-to-order" model, producing packaging products based on specific customer orders, which limits inventory and enhances responsiveness to market demands [9][10]. - The company has established long-term relationships with domestic suppliers, ensuring a stable supply of raw materials for its production processes [8][10]. - The company’s production capacity is being optimized to meet increasing market demands, particularly in the regulated pharmaceutical sector, which has shown substantial growth [12][17]. Future Outlook - The company aims to enhance its market position by focusing on product quality and customer service, while also exploring new market opportunities in both domestic and international sectors [10][12]. - The regulated pharmaceutical business is expected to continue its rapid growth, contributing significantly to the company’s overall revenue in the coming years [12][17].

Core Viewpoint - Guizhou Yongji Printing Co., Ltd. reported a decline in net profit and total profit for the first half of 2025, despite an increase in operating revenue, indicating potential challenges in cost management and profitability [1][2]. Financial Performance - Total assets at the end of the reporting period were approximately CNY 1.94 billion, a decrease of 0.45% compared to the previous year [1]. - Operating revenue reached CNY 427.80 million, reflecting an increase of 11.91% year-on-year from CNY 382.29 million [1]. - Total profit amounted to CNY 74.79 million, down 23.30% from CNY 97.51 million in the same period last year [1]. - Net profit attributable to shareholders was CNY 45.33 million, a significant decrease of 41.12% compared to CNY 76.98 million [1]. Shareholder Information - The largest shareholder, Guizhou Yongji Holdings Co., Ltd., holds 34.19% of the shares, amounting to 143,581,600 shares [2]. - Other notable shareholders include Guizhou Yunshang Printing Co., Ltd. with 6.87% and individual shareholders such as Zhang Hai and Deng Daixing with 4.99% and 4.59% respectively [2]. - A total of 18,395 shareholders were recorded at the end of the reporting period [1].

Group 1 - The board of directors of Guizhou Yongji Printing Co., Ltd. held its 12th meeting of the 6th session on August 29, 2025, with all 7 directors present, complying with relevant laws and regulations [1] - The board approved the company's 2025 semi-annual report and its summary, which was reviewed and agreed upon by the audit committee [2] - The audit committee confirmed that the semi-annual report complies with legal requirements and accurately reflects the company's financial status and operating results for the first half of 2025 [2] Group 2 - The board also approved the special report on the storage and actual use of raised funds for the first half of 2025, which was also reviewed by the audit committee [2] - The voting results for both proposals were unanimous, with 7 votes in favor and no votes against or abstentions [2]

Meeting Overview - The sixth meeting of the supervisory board of Guizhou Yongji Printing Co., Ltd. was held on August 29, 2025, with all three supervisors present, confirming the legality and validity of the resolutions made [1][2]. Financial Reporting - The supervisory board approved the company's 2025 semi-annual report, affirming that the report accurately reflects the company's operational status without any false statements or omissions [1][2]. Fund Utilization - The supervisory board also approved the special report on the storage and actual use of raised funds for the first half of 2025, with unanimous support from all supervisors [2].

Group 1 - The core viewpoint of the article is that Yongji Co., Ltd. has released its semi-annual report, indicating a mixed financial performance with revenue growth but a decline in net profit [1] - The company's semi-annual operating revenue is reported at 427,804,602.29 yuan, which represents an increase of 11.91% year-on-year [1] - The net profit attributable to shareholders of the listed company is 56,605,072.61 yuan, showing a decrease of 27.67% compared to the previous year [1]