Core Viewpoint - The report indicates a significant decline in revenue and net profit for Xi'an Global Printing Co., Ltd. in the first half of 2025 compared to the same period in the previous year, highlighting financial challenges faced by the company. Financial Performance - Operating revenue for the reporting period was approximately 438.94 million yuan, a decrease of 43.53% compared to 777.33 million yuan in the same period last year [2]. - The net profit attributable to shareholders was a loss of approximately 3.72 million yuan, down 109.85% from a profit of 37.75 million yuan in the previous year [2]. - The net profit after deducting non-recurring gains and losses was a loss of approximately 5.55 million yuan, a decrease of 115.12% from a profit of 36.73 million yuan [2]. - The net cash flow from operating activities increased by 78.44% to approximately 115.77 million yuan from 64.88 million yuan [2]. - Basic and diluted earnings per share were both -0.01 yuan, a decline of 108.33% from 0.12 yuan [2]. Asset and Equity Status - Total assets at the end of the reporting period were approximately 1.99 billion yuan, a decrease of 3.24% from 2.05 billion yuan at the end of the previous year [3]. - The net assets attributable to shareholders were approximately 1.29 billion yuan, a slight decrease of 0.29% from 1.29 billion yuan at the end of the previous year [3]. Significant Events - The company decided to make a provision for impairment of receivables amounting to approximately 56.89 million yuan due to overdue accounts from a client, which significantly impacted the net profit for the reporting period [4]. - The company has initiated legal measures to recover overdue receivables and is actively pursuing various channels to resolve the issue [7]. - The company has completed the construction of its new green packaging intelligent manufacturing industrial park, marking a new phase in its development [7]. Strategic Developments - The company approved the establishment of a new subsidiary focused on new materials technology, with a registered capital of no less than 80 million yuan and a total project investment of at least 100 million yuan [8]. - The company is in the process of adjusting its investment projects and has made changes to the equipment involved in its expansion projects [10]. - The company has decided to downsize its internet digital marketing segment to enhance overall operational efficiency [12].

Board Meeting Summary - The sixth board meeting of Xi'an Global Printing Co., Ltd. was held on August 11, 2025, with all seven directors present, including two participating via remote voting [1][2] - The board approved the write-off of uncollectible accounts receivable totaling 1.8082 million yuan as of June 30, 2025, to reflect the company's financial status accurately [1][2] Asset Leasing Adjustments - The board agreed to adjust the rental prices for three assets, reducing the annual rent for the first asset from 10.42 million yuan to 8.03 million yuan, and for the second asset from 1.65 million yuan to 1.32 million yuan [3] - The third asset's description was updated to include an office laboratory building, with the total area changing from 7,967.24 square meters to 8,266 square meters, and the annual rent adjusted from 2.66 million yuan to 2.86 million yuan [3] Business Strategy Changes - Due to increased competition and declining revenue in the internet digital marketing sector, the company decided to scale back its operations in this area to focus on its core strategic direction [5][6] - The board proposed to authorize management to handle all matters related to the cessation of the subsidiary's internet digital marketing business, including personnel arrangements and asset management [6] Fixed Asset Disposal - The board approved the public disposal of 13 outdated fixed assets, including printing machines, with the final transaction price to be determined based on actual sales [7][8] - If the initial public offering does not result in a sale, the price will be adjusted downward for a second offering, but it cannot be lower than 90% of the initial price [7] Fund Management - The board approved the temporary use of up to 150 million yuan of idle raised funds to supplement working capital, with a commitment to return the funds to the designated account within 12 months [10][11] - This decision aims to enhance the liquidity of the raised funds while ensuring that the investment projects continue to meet their financial needs [10]

Meeting Overview - The sixth session of the Supervisory Board of Xi'an Global Printing Co., Ltd. was held on August 11, 2025, with three supervisors present, including one participating via remote voting [1][2] - The meeting was chaired by the chairwoman of the Supervisory Board, Ms. Shi Xiaoting, and complied with the relevant laws and company regulations [1] Resolutions Passed - The Supervisory Board approved the write-off of accounts receivable totaling 1.8082 million yuan, confirming that the decision was based on sufficient evidence and followed proper procedures [1][2] - The decision to suspend the internet digital marketing business of a subsidiary was also approved, aligning with the company's strategic focus on core operations and resource optimization [2][3] - The disposal of certain fixed assets was deemed compliant with accounting standards and was approved by the Supervisory Board [3][4] Financial Reporting - The Supervisory Board reviewed and approved the 2025 semi-annual report, confirming that it accurately reflects the company's financial status without any misleading statements [3][4] - As of June 30, 2025, there were no non-operating fund occupations by controlling shareholders or related parties [4][5] Fund Management - The company confirmed that its management and use of raised funds comply with regulatory requirements, with no violations reported [5][6] - The Supervisory Board agreed to temporarily use up to 150 million yuan of idle raised funds to supplement working capital, ensuring that this does not affect the planned investment of raised funds [6][7]

Meeting Information - The company will hold its first extraordinary general meeting of shareholders in 2025 on August 28, 2025, at 14:00 [1] - Shareholders can vote through on-site attendance or online voting, with specific time slots for each method [1][2] - The online voting will be available via the Shenzhen Stock Exchange trading system and internet voting system [1] Voting Procedures - Shareholders can only choose one voting method: on-site or online, and duplicate votes will be disregarded [2] - All ordinary shareholders registered by the close of business on August 25, 2025, are entitled to attend and vote [2] - The meeting will include separate counting of votes for minority investors [3] Registration Details - Registration for the meeting will take place on August 26 and 27, 2025, from 9:00 to 17:00 [4] - Shareholders must present identification and proof of shareholding for registration [4] Voting Process - Detailed procedures for online voting are provided, including the need for identity verification [6] - The voting process allows shareholders to express their opinions on non-cumulative voting proposals [6] Additional Information - The meeting will last half a day, and attendees are responsible for their own travel and accommodation expenses [5] - Contact information for inquiries regarding the meeting is provided [5]

Core Viewpoint - The company has approved the write-off of uncollectible accounts receivable totaling 1.8082 million yuan, reflecting its financial status accurately and complying with accounting standards [1][2]. Group 1: Write-off of Accounts Receivable - The company has written off a total of 1.8082 million yuan in accounts receivable that are deemed uncollectible as of June 30, 2025, following a thorough review of its consolidated financial statements [1][2]. - The accounts receivable were formed due to historical reasons, and the company has made efforts through negotiation and litigation to recover these amounts but has confirmed they are uncollectible [2]. - The company has fully provisioned for bad debts amounting to 1.8082 million yuan, ensuring that the write-off will not significantly impact the current profit and loss [2]. Group 2: Impact on Financial Status - The write-off of accounts receivable is expected to have no significant impact on the company's operating performance, as it has already accounted for these amounts in its financial statements [2]. - The write-off does not involve any related parties and does not harm the interests of the company or its shareholders [2]. Group 3: Board and Supervisory Committee Opinions - The board of directors has agreed to the write-off to ensure a more accurate reflection of the company's financial status and asset value, in accordance with relevant regulations [2]. - The supervisory committee has reviewed the decision and found it to be well-founded, compliant with accounting standards, and in the best interest of the company and its shareholders [2].

Core Viewpoint - The company plans to use up to RMB 150 million of idle raised funds to temporarily supplement its working capital for a period not exceeding 12 months, ensuring the funds will be returned to the special account before the due date [1][4][5]. Summary by Sections Fundraising Overview - The company has received approval from the China Securities Regulatory Commission for a non-public offering of 68,040,000 shares at a price of RMB 1.00 per share, raising a total of RMB 680.4 million [1][2]. Fund Management - All raised funds are stored in a special account, and the company has signed tripartite and quadripartite supervision agreements with the sponsor and the bank [2]. Investment Project Status - As of June 30, 2025, the company has invested RMB 737.53 million in its projects, with a remaining balance of RMB 193.84 million in the fundraising account [3]. Previous Use of Idle Funds - The company previously returned RMB 150 million of idle funds to the special account on June 12, 2025, after temporarily using them for working capital [3][4]. Current Plan for Idle Funds - The company aims to enhance the efficiency and liquidity of the raised funds while reducing financial costs, with an estimated savings of RMB 4.5 million in financial expenses based on a loan market quotation rate (LPR) of 3.00% [4][5]. Decision-Making Process - Both the board and the supervisory committee have approved the use of idle funds, confirming compliance with relevant regulations and ensuring no impact on the normal investment plan [5][6].

Overview - Xi'an Global Printing Co., Ltd. has decided to shrink its internet digital marketing segment to enhance overall operational efficiency and optimize resource allocation, focusing on core strategic directions in response to market uncertainties and pressures [1][2]. Business Adjustment - The board of directors approved the proposal to suspend the internet digital marketing business of its subsidiary, aiming to refine the company's business layout and improve overall efficiency [2][6]. - The decision is based on the current situation of the internet digital marketing business and market conditions, with the goal of protecting the legal rights of the company and all shareholders [2][6]. Subsidiary Information - The subsidiary, Holguozi Linkai Network Technology Co., Ltd., along with its subsidiaries, provides internet digital marketing services, including technical support, creative design, and market development assistance [2][5]. Financial Performance - The financial data indicates significant challenges, with total assets of 119.15 million and total liabilities of 291.10 million, resulting in a negative equity of -171.95 million [5]. - The subsidiary reported a net loss of 59.97 million for the audited period, highlighting the financial strain on the internet digital marketing segment [5][6]. Market Conditions - The internet and mobile internet sectors are experiencing intensified competition, leading to a decline in revenue and gross margins for the digital marketing segment, compounded by overdue accounts receivable and insufficient working capital [6][7]. - The company anticipates that the suspension of the digital marketing business will narrow its operational scope and significantly reduce revenue, impacting the financial results for 2025 [6][7]. Strategic Focus - The move to suspend the digital marketing business aligns with the company's strategic deployment and development status, allowing it to concentrate resources on core business areas and enhance competitive advantages [7]. - The company plans to strengthen debt collection efforts to protect shareholder interests following the business adjustment [7].

Core Viewpoint - Xi'an Global Printing Co., Ltd. has reported significant non-operating fund occupation and related party transactions, indicating potential liquidity issues and financial interdependencies within its corporate structure [1][2][3]. Group 1: Non-operating Fund Occupation - The company has recorded a total of 41,302.25 million yuan in non-operating fund occupation, with an increase of 1,717.67 million yuan compared to the previous period [3]. - The non-operating fund occupation includes significant amounts owed to related parties, such as 31,226.15 million yuan to Xi'an Lingfeng Global Printing Technology Co., Ltd. [2][3]. - The report highlights that the non-operating fund occupation is primarily due to transactions with controlling shareholders and their subsidiaries [1][2]. Group 2: Related Party Transactions - The company has substantial receivables from related parties, including 1,700.00 million yuan from a supply chain management company, indicating ongoing financial interactions [3]. - Other receivables include 738.58 million yuan from Xi'an Eno and Chuang Technology Development Co., Ltd., reflecting a diverse range of related party transactions [2]. - The total amount of other receivables from related parties is reported at 41,094.56 million yuan, with a notable increase of 411.52 million yuan [3].

Core Viewpoint - The report evaluates the rental price of industrial land and buildings owned by Xi'an Global Printing Co., Ltd. located in Xi'an High-tech Zone, providing a comprehensive analysis based on market conditions and property specifics [1][2][3]. Summary by Relevant Sections Valuation Purpose - The valuation aims to provide a reference for determining the rental price of the real estate [3]. Valuation Object - The object of valuation includes industrial land and buildings at No. 32, Keji 1st Road, Xi'an High-tech Zone, with a total building area of 9,506.01 square meters [3][4]. Valuation Method - The comparative method was used for valuation, analyzing various factors affecting the market rental price [1][2]. Valuation Results - The estimated rental price range is between 285.75 million and 314.34 million yuan annually, with a unit rental price range of 12.00 to 13.20 yuan per square meter per month [1][2]. Market Conditions - The report highlights the overall market conditions in Xi'an, indicating a stable yet cautious environment for real estate, with a focus on industrial properties [4][5]. Economic Context - Xi'an's economy is characterized by a steady growth trajectory, with a GDP of 13,317.78 billion yuan in 2024, reflecting a resilient economic environment despite challenges [4][10]. Infrastructure and Accessibility - The valuation area is well-connected with major roads and public transport, enhancing its attractiveness for industrial use [3][4]. Future Outlook - The report anticipates continued demand for industrial properties in Xi'an, driven by technological advancements and economic development initiatives [6][10].

Overview - Xi'an Global Printing Co., Ltd. has approved a proposal to publicly lease idle assets to enhance resource integration and increase revenue [1][2] - The company plans to lease three idle assets located at No. 32, Science and Technology First Road, Xi'an High-tech Zone, with assessed annual rental prices of 10.42 million yuan, 1.65 million yuan, and 2.66 million yuan respectively [1] Asset Leasing Progress - The company held its first formal listing on April 25, 2025, but did not attract any qualified tenants [2] - On May 28, 2025, the company reduced the rental prices by 10% for a second listing due to the lack of interest [3] Adjustments to Leasing Proposal - The rental prices for the three assets have been adjusted as follows: - Asset One: from 10.42 million yuan to 8.03 million yuan - Asset Two: from 1.65 million yuan to 1.32 million yuan - Asset Three: from 2.66 million yuan to 2.86 million yuan [3][4] - The adjustments were made based on a new market assessment conducted by Xi'an Hengda Real Estate Asset Evaluation and Survey Co., Ltd. [4] Authorization Matters - The board of directors has requested shareholder authorization to allow management to handle the leasing process, including determining the final tenants and rental terms [5] Impact of Adjustments - The leasing of these assets is expected to improve asset utilization efficiency and provide stable rental income, positively affecting the company's financial status [5]