Financial Performance - The company's revenue for Q1 2025 was CNY 1,477,490,718.88, representing an increase of 11.55% compared to CNY 1,324,458,336.45 in the same period last year[5] - Net profit attributable to shareholders was CNY 59,159,932.99, up 38.21% from CNY 42,805,333.83 year-on-year[5] - Basic and diluted earnings per share rose to CNY 0.16, a 45.45% increase from CNY 0.11 in the previous year[5] - Operating profit for the current period was ¥70,985,713.38, up 43.2% from ¥49,619,361.80 in the previous period[21] - Net profit for the current period was ¥62,469,209.23, representing a 57.9% increase from ¥39,545,790.56 in the previous period[21] - The total comprehensive income for the period attributable to the parent company was CNY 59,080,771.87, compared to CNY 42,892,347.07 in the previous period, representing an increase of approximately 37.6%[22] Cash Flow - The net cash flow from operating activities increased by 143.09%, reaching CNY 67,955,719.06, compared to a negative cash flow of CNY 157,714,828.08 in the previous year[5] - Cash received from operating activities increased by 11.84%, driven by higher sales receipts from the cross-border e-commerce business[11] - The company experienced a 101.64% increase in net cash and cash equivalents, influenced by the rise in operating cash flow and changes in financing activities[12] - The net cash flow from operating activities was CNY 67,955,719.06, a significant improvement from a negative CNY 157,714,828.08 in the previous period[24] - The company’s cash outflow for financing activities was CNY 83,777,497.71, a decrease from CNY 203,413,068.88 in the previous period, showing improved cash management[24] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,508,818,628.11, a slight increase of 0.16% from CNY 3,503,096,124.49 at the end of the previous year[5] - Current liabilities decreased to ¥1,059,153,420.82 from ¥1,084,388,715.47, a reduction of 2.3%[19] - Total liabilities decreased to ¥1,242,327,703.37 from ¥1,294,580,717.20, a decline of 4.0%[19] - Cash and cash equivalents increased to ¥785,508,930.07 from ¥763,530,996.10, a growth of 2.0%[18] - Accounts receivable decreased to ¥521,702,486.43 from ¥550,132,776.90, a decline of 5.2%[18] - Inventory decreased to ¥426,046,813.58 from ¥447,888,576.49, a reduction of 4.7%[18] Shareholder Information - The total number of common shareholders at the end of the reporting period is 33,102[14] - The largest shareholder, Zhuang Hao, holds 18.09% of shares, totaling 69,623,082 shares, with 29,950,000 shares pledged[14] - The second-largest shareholder, Hong Kong Central Clearing Limited, holds 10.04% of shares, totaling 38,628,170 shares[14] - The company reported a total of 6,559,900 shares held in a repurchase account, representing 1.70% of total shares[14] Strategic Initiatives - The company has initiated a share repurchase program, with progress updates announced on multiple dates in 2025[16] - The company is planning to establish an overseas joint venture and invest in a production base and trading platform, with announcements made in December 2024 and February 2025[16] - The company is in the process of issuing H shares, with several announcements regarding the application and approval by the China Securities Regulatory Commission[16] - The company is expected to provide guarantees for financing and performance for its controlling subsidiaries in 2025[16] ESG and Governance - The company has released its 2024 ESG report, highlighting its commitment to environmental, social, and governance practices[16] - The company has appointed an accounting firm for continued services, with the announcement made in April 2025[16] Investment Activities - The company reported a 91.26% decrease in investment income, attributed to reduced equity method investment income from joint ventures[10] - The net cash flow from investing activities was negative CNY 78,101,408.77, worsening from negative CNY 32,878,189.39 in the previous period[24] - The total cash inflow from investment activities was CNY 201,240,373.42, down from CNY 600,869,022.07, indicating a strategic shift in investment focus[24] - The company received CNY 1,462,500.00 from minority shareholders as part of investment inflow, indicating ongoing support for growth initiatives[24]

Group 1 - The company reported a revenue of 1.477 billion yuan for the first quarter of 2025, representing a year-on-year growth of 11.55% [1] - The net profit for the same period was 59.159 million yuan, showing a year-on-year increase of 38.21% [1]

导 语 ：吉宏股份在海外社交平台投放广告，将中国内地商品推广至全球海外消费者。 据厦门吉宏科技股份有限公司在港交所递交的招股书内容，公司拟在香港联合交易所上市。此次 IPO 备受关注，其背后是公司跨境社交电商与纸制快消品包装双轮驱动业务的发展现状与未来规 划，其中既蕴含着机遇，也存在不少挑战。 吉宏股份此次 IPO 发售相关细节尚未完全确定，股票发行数目、价格等均有待进一步明确。在承销 商方面，中国国际金融香港证券有限公司及招银国际融资有限公司担任联席保荐人。 公司主营业务包括跨境社交电商业务及纸制快消品包装业务。 跨境社交电商业务借助动态数据分析能力，采用 "货找人" 模式，在社交平台投放广告，将中国内 地商品推广至全球海外消费者，产品种类丰富，涵盖家居用品、电子产品等多品类，并在自有品牌 网站及电商平台销售自有品牌产品。 纸制快消品包装业务则为快消品企业提供一站式纸制包装产品及服务，具备从工艺设计到运输物流 的全流程能力，且积极布局环保型包装。 在市场定位上，跨境社交电商业务以亚洲市场为战略重点，纸制包装业务则聚焦中国内地快消品市 场。行业地位方面，按 2024 年在亚洲从事社交媒体电商业务产生的收入计， ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has faced pressure in its main business, but the integration of AI and overseas expansion opens up growth opportunities. The company is expected to benefit from being a leader in cross-border social e-commerce, with a reasonable valuation [4][5] Financial Performance - In 2024, the company reported a revenue of 5.529 billion yuan, a year-on-year decline of 17.4%, and a net profit attributable to shareholders of 182 million yuan, down 47.3%. The fourth quarter of 2024 saw a revenue of 1.632 billion yuan, a decrease of 7.5%, but a significant increase in net profit by 93.8% [4][5] - The revenue forecast for 2025-2027 is set at 6.503 billion yuan, 7.550 billion yuan, and 8.693 billion yuan respectively, with corresponding net profits of 241 million yuan, 310 million yuan, and 384 million yuan [4][8] Business Segments - Cross-border social e-commerce segment achieved a revenue of 3.366 billion yuan in 2024, down 20.9%, with a gross margin of 60.8%. The decline was attributed to the company's proactive control over marketing investments in volatile currency regions [5][6] - The packaging segment reported a revenue of 2.099 billion yuan, a slight increase of 0.1%, with a gross margin of 17.9%. The growth slowdown was due to weakened downstream demand and raw material price adjustments [5][6] Growth Drivers - The company is focusing on AI integration, connecting with mainstream models like ChatGPT and LlamaAI for digital and intelligent management. It is also enhancing brand building with proprietary brands such as SenadaBikes and Veimia [6] - The company is actively pursuing international expansion, particularly in the Middle East and Africa, to enhance market influence and competitiveness [6] Valuation Metrics - The projected earnings per share (EPS) for 2025, 2026, and 2027 are 0.63 yuan, 0.81 yuan, and 1.00 yuan respectively, with corresponding price-to-earnings (P/E) ratios of 17.9, 14.0, and 11.3 [4][8]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has faced pressure in its main business but is expected to benefit from AI empowerment and overseas expansion, which opens up growth opportunities [4][5] - In 2024, the company reported a revenue decline of 17.4% year-on-year, with a net profit drop of 47.3% [4] - The company is positioned as a leader in cross-border social e-commerce and is anticipated to leverage AI and global market expansion for future growth [4][5] Financial Performance Summary - In 2024, the company achieved a revenue of 55.29 billion yuan, down 17.4% year-on-year, and a net profit of 1.82 billion yuan, down 47.3% [4] - The fourth quarter of 2024 saw a revenue of 16.32 billion yuan, a decrease of 7.5%, but a significant net profit increase of 93.8% [4] - The projected net profits for 2025-2027 are 2.41 billion yuan, 3.10 billion yuan, and 3.84 billion yuan respectively, with corresponding EPS of 0.63 yuan, 0.81 yuan, and 1.00 yuan [4][8] Business Segment Analysis - Cross-border social e-commerce generated 33.66 billion yuan in revenue in 2024, down 20.9%, with a gross margin of 60.8% [5] - The packaging segment reported a revenue of 20.99 billion yuan, a slight increase of 0.1%, with a gross margin of 17.9% [5] - The overall gross margin for the company in 2024 was 43.9%, down 2.7 percentage points, and the net margin was 3.3%, down 1.6 percentage points [5] Growth Strategy - The company is focusing on AI investments and has integrated mainstream models like ChatGPT and LlamaAI for digital and intelligent management [6] - Brand building efforts are ongoing, with the establishment of proprietary brands such as SenadaBikes and Veimia [6] - The company is actively pursuing international expansion, particularly in the Middle East and Africa, to enhance market influence and competitiveness [6]

证券代码：002803 证券简称：吉宏股份 公告编号：2025-022 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 ...

4月7日，吉宏股份（002803）(002803.SZ)就相关关税问题作出回应，披露其对美国市场依赖度较低。 公司表示，美国市场销售收入在2024年仅为1.2亿元，占总营收的2.17%，包装业务已无美国客户，新增 关税"对我司无任何影响"。 近年来，随着全球贸易格局的持续调整，跨境电商和轻工行业正面临前所未有的供应链扰动和政策风 险。面对高关税压力，东南亚、南亚甚至部分拉美国家产能布局逐步显现短板，品牌企业和出口龙头开 始向供应链多元化与市场多极化转型。吉宏股份的全球化布局由此显现前瞻性。 年报数据显示，吉宏股份2024年实现营业收入55.29亿元，海外市场营收占比高达63.16%，其中核心增 长引擎为跨境社交电商业务。公司以东南亚、东北亚和中东为主要市场，美国业务权重极低，具备良好 的"去美元化"风险屏障。 同时，公司已全面退出美国包装业务，转而聚焦共建"一带一路"新兴市场。根据公告，吉宏股份正携手 中东本地合作方，建设阿联酋和阿曼两个生产基地与区域贸易平台，打造涵盖烟草包装、纸尿裤、防水 纸、环保包装在内的全产业链制造和出口平台，力争构建覆盖中东及非洲的本地化供应链体系。 值得注意的是，在全球贸易政策趋紧 ...

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。 一、回购公司股份的进展情况 证券代码：002803 证券简称：吉宏股份 公告编号：2025-021 根据《上市公司股份回购规则》《深圳证券交易所上市公司自律监管指引第 9 号—回购股份》相关规定，公司应当在每个月的前三个交易日内披露截至上月 末的回购进展情况，现将公司回购股份进展情况公告如下： 厦门吉宏科技股份有限公司 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 ...

按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求，我们审 计了厦门吉宏科技股份有限公司2024年12月31日的财务报告内部控制的有效性。 一、企业对内部控制的责任 厦门吉宏科技股份有限公司 内部控制审计报告 2024年12月31日 内部控制审计报告 安永华明（2025）专字第80003961_B03号 厦门吉宏科技股份有限公司 厦门吉宏科技股份有限公司全体股东： A member firm of Ernst & Young Global Limited 1 内部控制审计报告（续） 四、财务报告内部控制审计意见 我们认为，厦门吉宏科技股份有限公司于2024年12月31日按照《企业内部控制 基本规范》和相关规定在所有重大方面保持了有效的财务报告内部控制。 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业内部控制 评价指引》的规定，建立健全和有效实施内部控制，并评价其有效性是厦门吉宏科技 股份有限公司董事会的责任。 二、注册会计师的责任 我们的责任是在实施审计工作的基础上，对财务报告内部控制的有效性发表审计 意见，并对注意到的非财务报告内部控制的重大缺陷进行披露。 三、内部控制的固有局限 ...

厦门吉宏科技股份有限公司 已审财务报表 2024年度 厦门吉宏科技股份有限公司 目 录 | | 页 | | 次 | | --- | --- | --- | --- | | 审计报告 | 1 | - | 7 | | 已审财务报表 | | | | | 合并资产负债表 | 8 | - | 10 | | 合并利润表 | 11 | - | 12 | | 合并股东权益变动表 | 13 | - | 14 | | 合并现金流量表 | 15 | - | 16 | | 公司资产负债表 | 17 | - | 19 | | 公司利润表 | | 20 | | | 公司股东权益变动表 | 21 | - | 22 | | 公司现金流量表 | 23 | - | 24 | | 财务报表附注 | 25 | - | 1 3 2 | | 补充资料 | | | | | 1.非经常性损益明细表 | | 1 | | | 1.非经常性损益明细表 | | --- | | 2.净资产收益率和每股收益 | 2 审计报告 安永华明（2025）审字第80003961_B01号 厦门吉宏科技股份有限公司 厦门吉宏科技股份有限公司全体股东： 一、审计意见 我们审计了厦门 ...