证券代码：002803 证券简称：吉宏股份 公告编号：2025-039 厦门吉宏科技股份有限公司 关于回购公司股份的进展公告 本公司及全体董事保证本公告内容真实、准确和完整，没有虚假记载、误导 性陈述或者重大遗漏。 厦门吉宏科技股份有限公司（以下简称"公司"）于 2024 年 11 月 4 日召开 第五届董事会第二十三次会议，审议通过《关于回购公司股份的议案》，同意公 司使用不低于人民币 6,000 万元、不超过人民币 10,000 万元的专项贷款资金、公 司自有资金或自筹资金，通过二级市场以集中竞价交易方式回购部分公司发行的 人民币普通股（A 股）股票，用于后期实施员工持股计划、股权激励计划或可转 换公司债券转股，回购价格不超过 18.20 元/股，回购期限自董事会审议通过回购 方案之日起不超过 12 个月。具体内容详见公司于 2024 年 11 月 6 日、2024 年 11 月 13 日刊登在《证券时报》《证券日报》《中国证券报》《上海证券报》和巨 潮资讯网（www.cninfo.com.cn）的《关于回购公司股份方案暨取得金融机构股票 回购专项贷款的公告》（公告编号：2024-086）。 公司于 20 ...

证券代码：002803 证券简称：吉宏股份 公告编号：2025-038 厦门吉宏科技股份有限公司 关于控股股东及一致行动人持股比例被动稀释 导致权益变动的提示性公告 本公司及全体董事保证本公告内容真实、准确和完整，没有虚假记载、误导 性陈述或者重大遗漏。 特别提示： 股数(股) 占总股本 比例(%) 股数(股) 占总股本 比例(%) 庄浩 69,623,082 18.09% 69,623,082 15.38% 庄澍 34,671,025 9.01% 34,671,025 7.66% 贺静颖 6,638,925 1.73% 6,638,925 1.47% 张和平 6,236,125 1.62% 6,236,125 1.38% 西藏永悦诗超企业 管理有限公司 5,444,928 1.42% 5,444,928 1.20% 陆它山 875,000 0.23% 875,000 0.19% 合计持有股份 123,489,085 32.09% 123,489,085 27.28% 其中： 无限售条件股份 40,022,661 10.40% 40,022,661 8.84% 有限售条件股份 83,466,424 21.69 ...

Core Viewpoint - Jihong Co., Ltd. successfully listed on the Hong Kong Stock Exchange on May 27, 2025, becoming the first "A+H" listed company in the printing and packaging industry, with its stock price opening at HKD 11 per share and experiencing intraday gains exceeding 60% [2] Group 1: Company Overview - Jihong Co., Ltd. was established in 2003 and has expanded its business from packaging to cross-border social e-commerce, forming a dual-driven development model [2] - The company aims to use the funds raised from its Hong Kong listing for overseas market expansion, brand portfolio enhancement, and development of existing proprietary brands [2] - Jihong Co. has been listed on the Shenzhen Stock Exchange since 2016 and provides one-stop paper packaging products and services for fast-moving consumer goods (FMCG) companies [2] Group 2: Financial Performance - In 2024, Jihong Co. reported revenue of approximately CNY 5.529 billion, a year-on-year decline of 17.41%, and a net profit attributable to shareholders of approximately CNY 182 million, down 47.28% year-on-year [3] - The decline in performance was attributed to factors such as overall economic conditions, frequent exchange rate fluctuations, reduced consumer confidence, and increased market competition [3] Group 3: Business Strategy and Market Position - In the cross-border social e-commerce sector, Jihong Co. utilizes AI algorithms to analyze overseas markets, create user profiles, and conduct targeted advertising on platforms like Meta, TikTok, and Google [5] - The company has a reputation for capitalizing on market trends, having engaged with various hot topics such as blockchain, masks, and the metaverse, earning the nickname "trend-surfing expert" [5] - Jihong Co. plans to advance its global strategy by expanding overseas operations and establishing packaging production bases, aiming to provide innovative and sustainable products and services [7]

Core Viewpoint - The company is experiencing a reversal in its cross-border e-commerce business, with a significant decline in 2024 revenues but a promising outlook for 2025 and beyond due to strategic positioning in the Southeast Asian market and advancements in AI technology [1] Financial Performance - In 2024, the company achieved a total revenue of 5.529 billion yuan, a year-on-year decrease of 17.41% - The net profit attributable to shareholders was 182 million yuan, down 47.28% year-on-year - The packaging business generated revenue of 2.010 billion yuan, remaining stable [1][1][1] - In Q1 2025, the company reported revenue of 1.477 billion yuan, an increase of 11.55% year-on-year, and a net profit of 59.16 million yuan, up 38.21% year-on-year - The gross margin for the quarter was 45.63%, an increase of 5.01 percentage points year-on-year, while the net margin was 4.23%, up 1.24 percentage points year-on-year [1][1][1] Market Opportunities - The Southeast Asian e-commerce market is rapidly expanding, with a market size of 234 billion USD and a compound annual growth rate of 22% - The demographic trend shows that over 50% of the population in key Southeast Asian countries is under 35 years old, driving demand for quality and cost-effective products [1][1] - The company derives 70% of its revenue from Southeast Asia and Northeast Asia, positioning itself favorably against trade wars and tariffs [1][1] Strategic Initiatives - The company has been actively exploring partnerships in neighboring countries and prioritizing regions with favorable tariffs and demographic advantages [1] - Since establishing its cross-border social e-commerce business in 2017, the company has focused on enhancing data analysis capabilities and AI technology to improve operational efficiency [1] - The company aims to leverage its robust information infrastructure and increasing sample sizes to create a unique competitive edge through "data + intelligent algorithms" [1][1] Profit Forecast - Revenue projections for 2025-2027 are estimated at 6.650 billion, 7.681 billion, and 8.906 billion yuan, with net profits attributable to shareholders expected to be 301 million, 396 million, and 486 million yuan respectively, maintaining a "buy" rating [1][1]

Core Viewpoint - Xiamen Jihong Technology Co., Ltd. (referred to as "Jihong Co., Ltd." 002803.SZ) has officially listed on the Hong Kong Stock Exchange, marking a significant milestone as the first A+H listed company in Xiamen and the fifth A-share company to list on the Hong Kong Stock Exchange this year [1][4]. Company Overview - Jihong Co., Ltd. was established on December 24, 2003, and was listed on the Shenzhen Stock Exchange on July 12, 2016. The company specializes in providing integrated services including marketing strategy, product design, process design, technical planning, transportation, and logistics [5]. - The company operates 10 large packaging production bases across China and has established close partnerships with clients such as Yili and Luckin Coffee. In 2022, it was ranked 5th among the "Top 100 Printing and Packaging Enterprises in China" by Printing Manager magazine [5]. IPO Details - The IPO involved a global offering of H-shares with a base issuance of 67.91 million shares, raising approximately HKD 519 million (around RMB 478 million). The funds will be used for overseas market expansion, technology development, and brand portfolio enhancement [4]. - Upon opening, Jihong Co., Ltd.'s shares surged to HKD 11 per share, a 43.23% increase from the issue price of HKD 7.68, and reached a peak increase of 52.34% at HKD 11.70 [1]. Business Performance - For the years 2022 to 2024, Jihong Co., Ltd. projected revenues of RMB 5.376 billion, RMB 6.695 billion, and RMB 5.529 billion, respectively. The cross-border e-commerce business is expected to contribute RMB 3.107 billion, RMB 4.257 billion, and RMB 3.366 billion, accounting for 57.8%, 63.6%, and 60.9% of total revenue [10]. - The company ranks second among B2C export e-commerce companies in China with a market share of 1.3% and holds the first position in the domestic paper packaging market for fast-moving consumer goods with a market share of 1.2% [10]. Future Plans - Jihong Co., Ltd. aims to expand its business footprint in Asia, particularly in Indonesia and Vietnam, while also planning to steadily enter the European market and explore high-growth potential regions in Latin America [11].

Core Viewpoint - Xiamen Jihong Technology Co., Ltd. (Jihong Co., HK:02603) successfully listed on the Hong Kong Stock Exchange on May 27, raising approximately HKD 5.22 billion with a net amount of about HKD 4.15 billion from the issuance of 67.91 million H-shares at an initial price of HKD 7.68 per share [1][3] Group 1: Listing Details - The opening price on the first trading day was HKD 11.00 per share, representing a rise of approximately 43.22% from the issue price [1] - The stock reached an intraday high of HKD 12.46 per share and closed at HKD 10.88 per share, marking a total increase of 41.67% with a market capitalization of around HKD 49.25 billion [1] Group 2: Investor Participation - Jihong Co. attracted three cornerstone investors, including Timber Kangaroo Capital Limited, Yulong International Capital Co., Ltd., and individual investor Shen Zhenyu, who collectively subscribed for USD 20 million [3] Group 3: Company Background - Established in December 2003, Jihong Co. was listed on the Shenzhen Stock Exchange in 2016, with a registered capital of approximately RMB 380 million [3] - Major shareholders include Zhuang Hao, Zhuang Shu, and Wang Yapeng [3] Group 4: Business Overview - Jihong Co.'s operations encompass cross-border social e-commerce and paper-based fast-moving consumer goods packaging [4] - According to data from ZhiShi Consulting, Jihong Co. ranks second among B2C export e-commerce companies in China by revenue, holding a market share of 1.3%, and ranks first in the paper-based fast-moving consumer goods packaging sector with a market share of 1.2% [4] Group 5: Financial Performance - The company reported total revenues of RMB 5.376 billion, RMB 6.695 billion, and RMB 5.529 billion for the years 2022, 2023, and 2024, respectively [5] - Net profits for the same years were approximately RMB 172 million, RMB 332 million, and RMB 185 million [5] - The number of signed orders increased from 11.7 million in 2022 to 16.4 million in 2023, followed by a slight decrease to 13.8 million in 2024 [5]

Core Viewpoint - Xiamen Jihong Technology Co., Ltd. (Jihong Co.) has made a significant market debut, becoming the first "AI cross-border social e-commerce A+H stock" in the Hong Kong market, reflecting the strong momentum of China's cross-border e-commerce industry amid globalization and digitalization [1][3] Group 1: Company Performance - In 2024, Jihong Co. achieved impressive financial results with a revenue of 552.93 million yuan and a net profit of 18.19 million yuan [4] - The company's cross-border social e-commerce business generated revenue of 336.59 million yuan, becoming the core engine of its growth [4] - Jihong Co. ranks second in the Chinese B2C export e-commerce sector with a 1.3% market share [4] Group 2: Business Model and Strategy - Jihong Co. operates under a dual-driven business model, combining cross-border social e-commerce with paper packaging solutions [3][4] - The company employs a unique "goods find people" model, leveraging consumer data to identify needs and guide purchasing decisions, contrasting with the traditional "people find goods" approach [5][6] - The cross-border social e-commerce business accounted for 60.9% of total revenue in 2024, with a high gross margin of 60.5% [6] Group 3: Packaging Solutions - Jihong Co. is a leading provider of one-stop paper packaging solutions, integrating various processes from design to logistics [8][9] - The company holds a 1.2% market share in the Chinese paper packaging sector, ranking first in revenue among domestic companies [9] - The paper packaging market in China is projected to grow from 1,456 billion yuan in 2020 to 1,703 billion yuan in 2024, with expectations to reach 2,227 billion yuan by 2029 [9] Group 4: Environmental and Market Trends - The company is positioned to benefit from increasing environmental awareness and stringent ESG policies, which are reshaping the packaging industry [10][11] - Jihong Co. has seen its paper packaging output rise from 846.7 million square meters in 2022 to 1,026.1 million square meters in 2024 [11] - The company has established partnerships with major brands like Yili and McDonald's, enhancing its market presence [12] Group 5: Future Outlook - Jihong Co. aims to transition from merely "cross-border selling" to "brand output," with a target to increase brand business contribution to 30% by 2027 [13] - The company's strategic focus includes leveraging AI technology and expanding its brand matrix to explore new valuation opportunities [14]

Core Viewpoint - Two companies listed on the same day in Hong Kong experienced opposite market performances, with one company seeing a significant drop in stock price while the other enjoyed a substantial increase [1][2]. Company Overview - Jihong Co., Ltd. (吉宏股份) is the first "A+H" listed company from Xiamen and the fifth A-share company to list on the Hong Kong Stock Exchange this year, with an initial share price of HKD 7.68 and a global offering of 67.91 million shares [3][4]. - The company was founded in 2003, initially providing one-stop paper packaging products and services for fast-moving consumer goods [4]. Financial Performance - Jihong's revenue for 2022, 2023, and 2024 was CNY 5.376 billion, CNY 6.695 billion, and CNY 5.529 billion, respectively, with net profits of CNY 172 million, CNY 332 million, and CNY 184 million [6]. - In Q1 2025, the company reported revenue of CNY 1.477 billion, a year-on-year increase of 11.55%, and a net profit of CNY 59.16 million, up 38.21% [6]. Business Segments - The cross-border e-commerce business has become Jihong's main revenue source, generating CNY 3.107 billion, CNY 4.257 billion, and CNY 3.366 billion in 2022, 2023, and 2024, respectively, accounting for 57.8%, 63.6%, and 60.9% of total revenue [7]. - The paper packaging business generated CNY 1.983 billion, CNY 2.097 billion, and CNY 2.099 billion in the same years, representing 36.9%, 31.3%, and 38% of total revenue [7]. Market Position - Jihong ranks second among B2C export e-commerce companies in China with a market share of 1.3% and holds the top position in the paper packaging sector with a market share of 1.2% [7]. Future Plans - The company plans to use approximately 40% of the funds raised from the Hong Kong listing for overseas market expansion, including untapped Asian regions and cross-border e-commerce in Europe and Latin America [8]. - About 35% of the funds will be allocated to enhancing R&D capabilities and data analysis, while 15% will focus on expanding the brand portfolio and developing existing proprietary brands [8]. - Jihong aims to improve its AI technology capabilities to analyze overseas markets and optimize product selection and customer targeting through social media platforms [8].

Core Viewpoint - Xiamen Jihong Technology Co., Ltd. (Jihong Co., 002803) has successfully listed on the Hong Kong Stock Exchange, with its share price closing at HKD 10.68, reflecting a 39.06% increase from the final offering price of HKD 7.68 [1][2]. Group 1: IPO Details - The total number of shares offered globally was 67,910,000 H-shares, with 20,373,000 shares allocated for public offering in Hong Kong and 47,537,000 shares for international offering [1][2]. - The total proceeds from the offering amounted to HKD 521.5 million, with a net amount of HKD 415.2 million after deducting estimated listing expenses of HKD 106.4 million [2][3]. Group 2: Fund Utilization - Approximately 40% of the net proceeds will be used for overseas market expansion, 35% for technology development, 15% for expanding the brand portfolio and developing existing proprietary brands, and 10% for working capital and other general corporate purposes [4]. Group 3: Financial Performance - In 2024, Jihong Co. reported revenue of CNY 5.53 billion, a decrease of 17.41% year-on-year, and a net profit attributable to shareholders of CNY 181.93 million, down 47.28% year-on-year [4][5]. - The net profit excluding non-recurring items was CNY 159.95 million, reflecting a 50.83% decrease year-on-year, while the net cash flow from operating activities was CNY 386.68 million, down 46.71% year-on-year [4][5].

Market Overview - The Hong Kong stock market showed volatility in early trading, with the Hang Seng Technology Index dropping over 1% at one point, but later indices rebounded to close higher. The Hang Seng Index rose by 0.43% to 23,381.99 points, with a total turnover of HKD 203.27 billion [1] - Guotai Junan International noted that market sentiment and valuation levels have recovered, indicating that new upward momentum for Hong Kong stocks is developing. Investors are advised to adopt a dividend style as a base and wait for clearer market conditions before increasing allocations in sectors supported by domestic policies [1] Blue Chip Performance - Meituan-W (03690) saw a moderate increase of 2.09%, closing at HKD 132.1, contributing 24.28 points to the Hang Seng Index. The company reported Q1 revenue of RMB 86.557 billion, up 18.1% year-on-year, and a profit attributable to equity holders of RMB 10.057 billion, up 87.33% [2] - Other notable blue chips included CSPC Pharmaceutical Group (01093) which rose by 5.83%, and China Biologic Products (01177) which increased by 4.68% [2] Sector Highlights Pharmaceutical Sector - The pharmaceutical sector showed strength, with notable gains from companies like Viva Biotech (01873) up 12.73% and Junshi Biosciences (01877) up 12.61%. The upcoming ASCO conference is expected to highlight over 70 research achievements from Chinese pharmaceutical companies, enhancing the outlook for domestic innovation [3][4] New Consumption Sector - The new consumption sector performed well, with companies like Mixue Group (02097) rising by 9.97% and Pop Mart (09992) increasing by 5.42%. Analysts suggest that trends in emotional consumption and health-oriented products are driving growth in this sector [4][5] Aviation Sector - The aviation sector continued its upward trend, with China Eastern Airlines (00670) rising by 4.63%. Analysts attribute this to favorable oil prices and a strengthening RMB, suggesting a potential recovery in airline performance [5] Automotive Sector - The automotive sector faced pressure, with companies like Brilliance China (01114) and GAC Group (02238) declining. The market is observing a new round of price wars among car manufacturers, which could impact profitability [6] Notable Stock Movements - Zhongan Online (06060) surged by 12.16% following the passage of a stablecoin regulation in Hong Kong, which is expected to benefit its virtual asset business [8] - Horizon Robotics (09660) rose by 11.39% after being included in the Hong Kong Stock Connect, which is anticipated to increase liquidity for the stock [9] - Ji Hong Co. (02603) debuted strongly, closing up 39.06% on its first trading day, indicating strong market interest [11] New IPOs - Paig BioPharma-B (02565) experienced a significant drop of 25.9% after its IPO, reflecting market skepticism about its business model and product pipeline [12]