（文章来源：证券日报） 证券日报网讯 12月15日，吉宏股份在互动平台回答投资者提问时表示，公司在全国经营11个大型包装 生产基地，与国内外食品、饮料、餐饮、日化等多个快消品细分领域行业龙头企业包括旺旺集团均建立 长期稳定的合作关系，包装业务占整体营业收入的比例约为40%。 ...

格隆汇12月15日丨吉宏股份(002803.SZ)在投资者互动平台表示，公司未与台湾馆长团队合作。 ...

（编辑 袁冠琳） 证券日报网讯 12月8日，吉宏股份在互动平台回答投资者提问时表示，公司经营情况稳健、财务状况良 好，不存在任何问题。上市公司股价受宏观经济、行业政策、投资者心理预期、资本市场情绪等多重因 素影响，存在波动属于正常现象。 ...

Investment Rating - The industry investment rating is maintained as "Positive" [5] Core Insights - The cross-border e-commerce sector remains robust, with a focus on leading brands and B2B companies actively implementing AI applications [3] - Online sales during Black Friday and Cyber Monday showed steady growth, with significant increases in consumer spending [8] - The performance of AI in e-commerce is notable, with a substantial rise in traffic driven by AI tools, indicating a shift in consumer behavior [8] Summary by Sections Cross-Border E-commerce B2B - B2B companies have a clear revenue logic through AI tools, with promising business developments ahead [3] - Recommended stocks include Xiaoguo City (600415), Focus Technology (002315) [3] Cross-Border E-commerce B2C - Recommended stocks include Anker Innovation (300866), Ugreen Technology (301606), Zhiou Technology (301376), Jihong Co., Ltd. (002803), and Huakai Yibai (300592) [3] Other Relevant Stocks - Other recommended stocks include Konnate Optical (02276), Miniso (09896), and Sumida (600710) [3] Market Trends - Black Friday and Cyber Monday online sales reached record highs, with online spending of $11.8 billion and $14.25 billion respectively, marking year-on-year growth of 9.1% and 7.1% [8] - The average online price of consumer goods in the U.S. increased by 8%, impacting actual sales performance [8] Future Outlook - In 2026, a decrease in tariff costs is expected to improve profit margins for some cross-border e-commerce companies [8] - The report outlines a timeline of tariff adjustments throughout 2025, indicating a complex landscape for cross-border trade [8]

吉宏股份 任命了一位27岁的年轻高管陆它山担任副总经理兼董秘。但公司的一致行动人表述前后公告矛盾，彰显公司信息披露问题！1 、公告显示，陆它 山，男，汉族，1998 年 1 月出生，也就是说现在 27 岁，中国国籍，无永久境外居留权，2021 年 3 月毕业于立命馆大学， 土木工程 专业，本科学历。曾 于 苹果 贸易(上海)有限公司、 宁波金砖贸易有限公司 任职，现为公司董事、总经理助理， 香港吉宏科技有限公司 董事， 香港吉客印 电子商务 有限公司 副总经理， 厦门海晟融创信息技术有限公司 董事，AJT Holding International Limited 董事，AJT Printing and Packing FZ-LLC 总经理。 2 、公司公告表示，截至本公告披露日，陆它山先生基于 2023 年限制性股票激励计划持有公司股份数量568,750 股，与公司控股股东、实际控制人、董 事、董事长、总经理庄浩女士，公司董事、副董事长张和平先生，持股 5%以上股东、董事、副总经理庄澍先生系一致行动人。 3 、而 2024 年公司关于第五届董事会的公告中说，截至本公告披露日，陆它山先生持有公司股份数量 87 ...

Summary of JiHong Co., Ltd. Conference Call Company Overview - **Company**: JiHong Co., Ltd. - **Industry**: E-commerce and Packaging Key Points Financial Performance - In Q3 2025, JiHong's e-commerce revenue reached 3.26 billion RMB, a year-on-year increase of over 40%, accounting for more than 65% of total revenue [2][11] - Overall revenue for Q3 2025 was 5.03 billion RMB, with a profit of 210 million RMB, reflecting a year-on-year profit growth of over 70% [3][11] - Packaging business revenue was 1.77 billion RMB, showing a year-on-year growth of over 14% [2][11] Regional Growth - Northeast Asia saw revenue growth exceeding 35%, while revenue from Europe and the U.S. doubled, contributing over 25% to total revenue [3][11] - Southeast Asia accounted for approximately 18% to 20% of e-commerce revenue, and the Middle East contributed 8% to 10% [3][11] Self-Brand Strategy - The self-brand strategy, initiated in 2022, focuses on the Japanese market with three main brands showing over 100% revenue growth in Q3 2025 [5][6] - The company aims for total self-brand revenue to reach 1.5 billion RMB in three years, leveraging premium pricing and repeat purchases to offset social e-commerce shortcomings [5][6] AI Technology Utilization - AI significantly enhances cross-border e-commerce efficiency through product selection, data analysis, and advertising optimization, leading to a doubling of order volume without increasing staff [2][9][10] - The AI advertising assistant, GKing, automates ad placement, achieving over 85% adoption of its recommendations [10] Inventory Management - JiHong employs a combination of order-based procurement and rolling inventory management, achieving a sell-out rate of 98% and keeping overall inventory below 4% of sales [2][12] Packaging Business Expansion - The packaging segment benefits from increased demand for ready-to-eat retail and food-grade packaging, with new factories in Suzhou and the UAE expected to boost capacity significantly by 2026 [4][19][20] - Projected packaging revenue for 2025 is 2.4 billion RMB, with a target of 2.8 to 3.0 billion RMB for 2026 [20] Risk Management - The company actively diversifies risks by expanding into Belt and Road countries to mitigate the impact of currency fluctuations and international relations [4][13] - Different regions exhibit significant variations in average order value, with Southeast Asia around 150 RMB, Japan and Korea at 220-250 RMB, and higher in the Middle East and Europe [14] Shareholder Actions - The recent share reduction by the major shareholder is a normal arrangement for debt repayment and is not expected to impact stock prices significantly [4][16] Organizational Structure - JiHong's operations are divided into independent teams for packaging and e-commerce, with a partner plan to incentivize team members [17][22] Advertising Cost Management - Advertising costs are monitored across major platforms, with a focus on maintaining profitability despite the potential decline in advertising returns [23] Future Outlook - The company anticipates improved profit margins as self-brands grow and marketing investments stabilize, focusing on revenue growth and market share expansion [15][22]

近日，据吉宏股份官微消息，阿联酋拉斯海马经济区内的包装生产基地建设迎来新进展——公司与合作 方已投入该基地建设的资金总额约为4500万美元，目前基地的厂房主体结构和外部工程已完成，正在进 行内部装修。这也是吉宏股份的首个海外工厂。吉宏股份董事长庄浩表示，基地预计将于2026年3月建 成投产。 据公开市场资料，吉宏股份于今年2月底启动阿联酋拉斯海马经济区内的包装生产基地建设，该基地全 部投产后，可生产2400万标箱烟草纸盒包装，配套纸箱包装年产量3.5万-5万吨。 香港联交所最新资料显示，12月2日，吉宏股份（002803）(02603)股东将股票由山高国际证券转入富中 证券，转仓市值1.25亿港元，占比15.62%。 ...

据公开市场资料，吉宏股份于今年2月底启动阿联酋拉斯海马经济区内的包装生产基地建设，该基地全 部投产后，可生产2400万标箱烟草纸盒包装，配套纸箱包装年产量3.5万-5万吨。 近日，据吉宏股份官微消息，阿联酋拉斯海马经济区内的包装生产基地建设迎来新进展——公司与合作 方已投入该基地建设的资金总额约为4500万美元，目前基地的厂房主体结构和外部工程已完成，正在进 行内部装修。这也是吉宏股份的首个海外工厂。吉宏股份董事长庄浩表示，基地预计将于2026年3月建 成投产。 智通财经APP获悉，香港联交所最新资料显示，12月2日，吉宏股份(02603)股东将股票由山高国际证券 转入富中证券，转仓市值1.25亿港元，占比15.62%。 ...

Core Viewpoint - Jihong Co., Ltd. has made significant progress in the construction of its packaging production base in Ras Al Khaimah Economic Zone, UAE, marking its first overseas factory, with an expected completion and production start date in March 2026 [1] Group 1: Investment and Construction Progress - The total investment in the construction of the packaging production base is approximately $45 million [1] - The main structure and external works of the factory have been completed, and internal decoration is currently underway [1] Group 2: Production Capacity and Goals - Once fully operational, the base will produce 24 million standard boxes of tobacco packaging and an annual output of 35,000 to 50,000 tons of corrugated packaging [1] - The company aims to transition from merely exporting products to establishing its brand overseas, leveraging local partners to build a sales network and enhance its global presence [1]

Core Viewpoint - Jihong Co., Ltd. has made significant progress in the construction of its packaging production base in Ras Al Khaimah Economic Zone, UAE, with a total investment of approximately $45 million, marking its first overseas factory [1][1]. Group 1: Company Developments - The construction of the factory's main structure and external works has been completed, and internal decoration is currently underway [1][1]. - The factory is expected to be completed and put into operation by March 2026 [1][1]. - Once fully operational, the facility will produce 24 million standard boxes of tobacco paper packaging and an annual output of 35,000 to 50,000 tons of supporting cardboard packaging [1][1]. Group 2: Strategic Goals - The company aims to transition from merely exporting products to establishing its brand overseas, leveraging local partners' resources to build a sales network [1][1]. - This initiative is part of a broader strategy to advance the "China Intelligent Manufacturing" overseas layout and development plan [1][1].