Core Viewpoint - Jihong Co., Ltd. successfully listed on the Hong Kong Stock Exchange, with an opening price of HKD 11 per share and intra-day gains exceeding 60% [1] Group 1: Company Overview - Jihong Co., Ltd. started with packaging business and later expanded into cross-border social e-commerce, forming a dual-driven development model [1] - The company was listed on the Shenzhen Stock Exchange in July 2016 and has faced multiple inquiries from the Shenzhen Stock Exchange regarding its market activities [1][6] - The company plans to use the funds raised from the Hong Kong listing for overseas market expansion, brand portfolio enhancement, and development of self-owned brands [2][4] Group 2: Financial Performance - In 2024, Jihong Co., Ltd. reported total revenue of approximately CNY 5.53 billion, a year-on-year decline of 17.41% [4] - The net profit attributable to shareholders was approximately CNY 182 million, down 47.28% year-on-year, while the net profit excluding non-recurring gains and losses was about CNY 160 million, down 50.83% [4] - The cross-border social e-commerce business generated revenue of CNY 336.59 million, a decrease of 20.93%, while the packaging business saw a slight increase of 0.14% to CNY 209.95 million [5] Group 3: Market Strategy and Future Plans - Jihong Co., Ltd. aims to advance its global strategy by expanding overseas operations and establishing partnerships with international companies [5] - The company intends to create a "China standard + localized service" model to provide innovative and sustainable products and services [5] - The company has been recognized for its ability to capture market trends, having engaged in various hot topics such as blockchain and the metaverse [6][7]

Core Viewpoint - Jihong Co., Ltd. experienced a strong debut on the Hong Kong Stock Exchange, opening over 43% higher at HKD 11 [1] Company Summary - Jihong Co., Ltd. listed on the Hong Kong Stock Exchange and saw its stock price rise significantly on the first trading day, indicating strong investor interest and market confidence [1]

Core Viewpoint - Jihong Co., Ltd. (02603.HK) has officially launched its IPO, showcasing its potential as a "packaging and printing cross-border internet" stock, with significant backing from notable investors [1][3]. Group 1: Investment Highlights - The cornerstone investment of $20 million accounts for 25.2% of the total offering, indicating strong institutional interest [3]. - Notable investor Shen Zhenyu, chairman of Yuheng Pharmaceutical, has a successful track record, having increased her company's stock price from 4 to 11 last year, suggesting a strategic move into the packaging sector [3]. - Jihong's e-commerce platform has achieved annual sales of 5 billion RMB, with over 30% of sales coming from medical supplies, indicating a potential synergy between medical consumables and e-commerce [3][4]. Group 2: Business Transformation - Jihong transitioned from a traditional printing factory to a cross-border e-commerce player, increasing its gross margin from 18% to 32% [4]. - The company reported a gross merchandise volume (GMV) of over 5 billion RMB in cross-border e-commerce, with 67% of sales coming from Southeast Asia [4]. - Jihong's AI product selection system demonstrates advanced capabilities, allowing for rapid generation of product lists tailored to specific demographics [5]. Group 3: Financial Metrics - For the fiscal year ending December 31, 2022, Jihong reported total revenue of 5.38 billion RMB, with projections of 6.69 billion RMB for 2023 and 5.53 billion RMB for 2024 [5]. - The pricing of the IPO is set at a median of 9.08 HKD, giving the company a market capitalization of approximately 12.2 billion HKD, with a dynamic PE ratio of 28 for 2024 [6]. Group 4: Strategic Initiatives - 35% of the IPO proceeds will be allocated to expanding warehousing in Southeast Asia, while 20% will be invested in a blockchain traceability system, addressing compliance challenges in cross-border e-commerce [6]. - The company aims to create a robust supply chain network in Southeast Asia, similar to Alibaba's Cainiao Network, by integrating blockchain technology with its existing supplier base [6]. Group 5: Market Position and Risks - Jihong's cross-border e-commerce repurchase rate is 23%, lower than competitors like SHEIN, indicating a need for improved customer retention strategies [8]. - The company has over 200 design patents and has successfully launched collaborative products, such as a Mid-Autumn Festival gift box with the Palace Museum, showcasing its brand potential [8]. - There are concerns regarding regulatory risks in Southeast Asia, particularly with Indonesia's recent tax policies on imported e-commerce goods, which could impact Jihong's operations [8].

根据《上海证券交易所沪港通业务实施办法》和《深圳证券交易所深港通业 务实施办法》有关规定，厦门吉宏科技股份有限公司（以下简称"公司"）境外 上市外资股（以下简称"H 股"）股票已调入沪港通及深港通下的港股通标的证 券名单，并自 2025 年 5 月 27 日起生效。 证券代码：002803 证券简称：吉宏股份 公告编号：2025-037 厦门吉宏科技股份有限公司 关于公司境外上市外资股（H 股） 调入港股通标的证券名单的公告 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。 董 事 会 2025 年 5 月 27 日 本次公司 H 股调入港股通标的证券名单后，符合条件的中国内地投资者将 可分别通过上海证券交易所及深圳证券交易所直接投资公司在香港联合交易所 有限公司上市的 H 股，有利于进一步扩大公司的投资者基础，并将潜在提高公司 H 股的交易流动性。 特此公告。 厦门吉宏科技股份有限公司 ...

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。 证券代码：002803 证券简称：吉宏股份 公告编号：2025-036 厦门吉宏科技股份有限公司关于 公司境外上市外资股（H 股）挂牌并上市交易的公告 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"）正在进行发行 H 股股票并 在香港联合交易所有限公司（以下简称"香港联交所"）主板挂牌上市（以下简 称"本次发行上市"）相关工作。 董 事 会 公司本次全球发售 H 股基础发行股数为 67,910,000 股，其中，香港公开发售 20,373,000 股，约占全球发售总数的 30%；国际发售 47,537,000 股，约占全球发 售总数的 70%。公司本次发行不行使超额配售权，根据每股 H 股发售价格 7.68 港 元计算，经扣除全球发售相关承销佣金及其他估计费用后，公司将收取的全球发 售所得款项净额估计约为 4.2 亿港元。 2025 年 5 月 27 日 本次发行上市完成后，公司持股 5%以上的股东及其一致行动人（香港中央 结算有限公司除外）持股变动情况如下： | 股东姓名/名称 | 本次发行上市前 ...

Core Viewpoint - Xiamen Jihong Technology Co., Ltd. (Jihong Co., stock code: 02603.HK) officially listed on the Hong Kong Stock Exchange on May 27, with an issue price of HKD 7.68 per share, and its stock closed at HKD 9.61 in the dark market, reflecting a 25.13% increase from the issue price, marking it as the first A+H company included in the Hong Kong Stock Connect upon listing [1][2]. Group 1: Business Overview - Founded in 2003, Jihong Co. initially focused on fast-moving consumer goods (FMCG) packaging, establishing partnerships with well-known brands like Yili and Luckin Coffee, and providing comprehensive packaging solutions [2]. - In 2017, the management identified the rapid growth of e-commerce penetration in Southeast Asia and innovatively adopted a social e-commerce model, leveraging its packaging business's supply chain resources, which has since become a significant growth driver [2]. - The company has successfully built a dual-driven model of "traditional business as ballast + emerging business as growth engine," with packaging business contributing revenue of CNY 2.099 billion and a gross margin of 17.85%, while cross-border e-commerce generated CNY 3.366 billion, accounting for over 60% of total revenue with a gross margin above 60% [2]. Group 2: Market Strategy and Innovation - Jihong Co. combines stable cash flow from its packaging business with a second growth curve from cross-border e-commerce, supported by technological innovation and regional market expansion [3]. - The company is accelerating the integration of AI into its operations, utilizing algorithms to analyze overseas markets, optimize product selection, and enhance online B2C sales through platforms like Meta and TikTok [3]. - Jihong Co. has established a strategic focus on the Asian market, with over 80% of its revenue coming from this region in 2024, positioning itself as a stable player in global trade cycles [3]. Group 3: Global Expansion and Funding - The Hong Kong listing marks a new phase in Jihong Co.'s globalization strategy, with funds raised aimed at enhancing local operations in Southeast Asia, advancing AI algorithm development, and upgrading supply chain digitalization [4]. - The H-share listing provides a broader financing platform and support for accelerating overseas market expansion, while the A+H structure helps balance domestic and international market risks, enhancing brand recognition and competitiveness [4].

Group 1: Company Overview - Jihong Co., Ltd. (吉宏股份) is a leading player in the cross-border social e-commerce sector and has established itself as a key provider of paper packaging products for fast-moving consumer goods (FMCG) since its founding in 2003 [1][4] - The company went public on the Shenzhen Stock Exchange in July 2016 and expanded its business into cross-border social e-commerce in 2017, which has since become its primary revenue source [1][4] - Jihong Co., Ltd. aims to leverage its dual business model of cross-border social e-commerce and paper packaging to create synergies and mitigate risks [4] Group 2: Market Performance and Financials - Jihong Co., Ltd. reported total revenues of CNY 5.376 billion, CNY 6.695 billion, and CNY 5.529 billion for the years 2022, 2023, and 2024 respectively, with net profits of CNY 172 million, CNY 332 million, and CNY 184 million during the same period [6] - In Q1 2025, the company achieved revenue of CNY 1.477 billion, representing a year-on-year growth of 11.55%, with a net profit of CNY 59.16 million, up 38.21% [6] Group 3: IPO and Fund Utilization - The company has set the final price for its H-share IPO at HKD 7.68 per share, with trading expected to commence on May 27, 2025 [1] - Proceeds from the IPO will be allocated as follows: approximately 40% for overseas market expansion, 35% for technology development, 15% for brand expansion, and 10% for working capital [7][8] Group 4: Industry Trends and Growth Potential - The cross-border social media e-commerce sector in China is rapidly reshaping global trade, with a projected market size of USD 927.6 billion by 2029, accounting for 11.4% of the global B2C e-commerce market [3] - The Asian e-commerce market, particularly outside of China, is expected to show significant growth potential due to factors such as a large population base, increasing internet penetration, and a growing middle class [2][3]

证券代码：002803 证券简称：吉宏股份 公告编号：2025-035 厦门吉宏科技股份有限公司 因本次拟发行的股份为 H 股，本次发行股份的认购对象仅限于符合相应条件 的境外投资者及依据中国相关法律法规有权进行境外证券投资管理的境内证券 经营机构和合格境内机构投资者等。因此，本公告仅为境内投资者及时了解公司 本次发行上市的相关信息而作出，并不构成也不得视作对任何个人或实体或任何 境内投资者收购、购买或认购公司本次发行 H 股的要约或要约邀请。 公司已确定本次H股发行的最终价格为每股7.68港元（不包括1%经纪佣金、 0.0027%香港证券及期货事务监察委员会交易征费、0.00565%香港联交所交易费 及 0.00015%香港会计及财务汇报局交易征费）。公司本次发行的 H 股预计于 2025 年 5 月 27 日在香港联交所挂牌并开始上市交易。 特此公告。 厦门吉宏科技股份有限公司 董 事 会 关于境外上市股份（H 股）公开发行价格的公告 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"）正在进行发行 H 股股票并 在香港联合 ...

关于持股 5%以上股东部分股份质押与解除质押的公告 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"）近日接到公司持股 5%以上 股东庄澍先生的通知，获悉庄澍先生所持有公司部分股份办理质押与解除质押相 关手续。具体情况如下： 一、本次解除质押基本情况 | 股东名称 | 是否为控股股东 或第一大股东及 | 本次解除质 押股份数量 | 占其所持 | 占公司总 | | | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 股份比例 | 股本比例 | 起始日 | 解除日期 | | | | 其一致行动人 | （万股） | | | | | | | 庄澍 | 是 | 160 | 4.61% | 0.42% | 2022-06-24 | 2025-05-23 | 华夏银行股份有 | | | | | | | | | 限公司厦门分行 | 二、本次股份质押基本情况 证券代码：002803 证券简称：吉宏股份 公告编号：2025-034 厦门吉宏科技股份有限公司 截至本公告 ...

吉宏股份（002803）公告，公司持股5%以上股东庄澍质押并解除质押160万股，占其所持股份比例 4.61%，占公司总股本比例0.42%。本次质押起始日为2025年5月21日，质押到期日为2028年5月21日， 质权人为华夏银行股份有限公司厦门分行，质押用途为实体企业生产经营融资提供担保。解除质押日期 为2025年5月23日，质权人为华夏银行股份有限公司厦门分行。 ...