Core Viewpoint - Mingyue Lens announced a change in the designated sponsor representative for its ongoing IPO supervision due to the work shift of the original representative, ensuring continued compliance with regulatory obligations [1] Group 1 - Mingyue Lens received a notice from Dongfang Securities regarding the replacement of the sponsor representative for its IPO supervision [1] - The original designated representatives were Zheng Rui and Liu Junqing, with the supervision period ending on December 31, 2024 [1] - Dongfang Securities appointed Mao Linyong to replace Liu Junqing to ensure orderly supervision as the company has not fully utilized the raised funds [1]

明月镜片股份有限公司（以下简称"公司"）于 2025 年 10 月 16 日收到保 荐机构东方证券股份有限公司（以下简称"东方证券"）《关于更换明月镜片股 份有限公司首次公开发行股票持续督导保荐代表人的情况说明》，东方证券作为 公司首次公开发行股票并在创业板上市的保荐机构，原指定的持续督导保荐代表 人为郑睿先生、刘俊清先生，持续督导期已于 2024 年 12 月 31 日届满，因公司 募集资金未全部使用完毕，东方证券需继续履行持续督导义务。 现因原持续督导保荐代表人刘俊清先生工作变动，为保证持续督导工作的有 序进行，东方证券现委派保荐代表人毛林永先生（简历见附件）接替刘俊清先生 担任公司首次公开发行股票并在创业板上市保荐代表人，负责持续督导保荐工作， 履行保荐职责。 本次保荐代表人变更后，公司持续督导保荐代表人为郑睿先生和毛林永先生。 公司董事会对刘俊清先生在公司首次公开发行股票及持续督导期间所作出的贡 献表示衷心感谢！ 特此公告。 明月镜片股份有限公司 董 事 会 证券代码：301101 证券简称：明月镜片 公告编号：2025-028 明月镜片股份有限公司 关于更换持续督导保荐代表人的公告 本公司及董事会全 ...

Investment Rating - The report maintains a positive outlook on the light industry and paper sector for Q3 2025, indicating a favorable investment rating [1]. Core Insights - The globalization of supply chains is accelerating changes in the packaging landscape, with leading companies increasing their market share and improving profitability [2]. - Q3 2025 is expected to see a divergence in performance among companies, influenced by supply chain advantages and growth potential [2]. - The report highlights specific companies with projected revenue and profit growth, indicating a robust performance in certain segments despite challenges in others [5][6]. Summary by Sections Packaging and Printing - Companies like Yutong Technology and Baosteel Packaging are expected to see slight revenue growth, while others like Meiyingsen may face revenue pressure but maintain profit growth [2][3]. - The overall packaging sector is benefiting from the global supply chain shift, with many companies reporting stable or improving profit margins [2][3]. Export Sector - Companies such as Jiangxin Home and Qianjiang Motorcycle are projected to experience significant revenue growth, with estimates of over 30% for Q3 2025 [6][7]. - The report notes that the export sector is showing resilience, with several companies adapting well to changing market conditions [6][7]. Two-Wheel and Motorcycle Sector - Companies like Aima Technology and Spring Wind Power are expected to report revenue growth of over 10% in Q3 2025, driven by seasonal demand and market adjustments [10][11]. - The sector is experiencing a mix of growth and challenges, with some companies facing declines due to regulatory changes [10][11]. Home Furnishing Sector - The report indicates that companies like Oppein Home and Kuka Home are facing revenue declines, while others like Joy Home are expected to show resilience with slight growth [12][14]. - The home furnishing market is under pressure from policy changes, but some segments are performing better than others [12][14]. Light Consumer Goods - Companies such as Dongkang Oral and Jeya are projected to see significant revenue and profit growth, with estimates indicating over 60% growth for Jeya in Q3 2025 [13][16]. - The light consumer goods sector is showing a positive trend, with several companies benefiting from strong demand and effective marketing strategies [13][16]. Paper Industry - The report anticipates a mixed performance in the paper sector, with some companies like Sun Paper expected to see profit declines due to price pressures, while others may experience stability [18][19]. - The paper industry is facing challenges from raw material price fluctuations, but certain segments are expected to maintain profitability [18][19].

Market Overview - The entertainment products sector increased by 0.43% on September 30, with Mingyue Lens leading the gains [1] - The Shanghai Composite Index closed at 3882.78, up 0.52%, while the Shenzhen Component Index closed at 13526.51, up 0.35% [1] Stock Performance - Mingyue Lens (301101) closed at 44.55, up 2.72% with a trading volume of 39,200 shares and a turnover of 172 million yuan [1] - Zhejiang Zhengte (001238) closed at 51.26, up 2.44% with a trading volume of 4,742 shares and a turnover of 24.02 million yuan [1] - Shifeng Culture (002862) closed at 18.57, up 2.09% with a trading volume of 34,500 shares and a turnover of 63.80 million yuan [1] - Other notable performers include Qunxing Toys (002575) up 1.77% and Hailun Piano (300329) up 1.65% [1] Capital Flow - The entertainment products sector experienced a net outflow of 613,800 yuan from institutional investors, while retail investors saw a net outflow of 1,590,640 yuan [2] - Conversely, speculative funds recorded a net inflow of 1,652,020 yuan [2] Individual Stock Capital Flow - Yingpais (002899) had a net inflow of 6.70 million yuan from institutional investors, but a net outflow of 10.94% from speculative funds [3] - Shuhua Sports (605299) saw a net inflow of 4.90 million yuan from institutional investors, with a net outflow of 11.66% from speculative funds [3] - Mingyue Lens (301101) had a net inflow of 3.47 million yuan from institutional investors, while retail investors experienced a net outflow of 5.43% [3]

Core Points - The entertainment products sector experienced a decline of 1.0% on September 26, with Mingyue Lens leading the drop [1] - The Shanghai Composite Index closed at 3828.11, down 0.65%, while the Shenzhen Component Index closed at 13209.0, down 1.76% [1] Sector Performance - The following companies in the entertainment products sector showed varied performance: - Yingpais (002899) closed at 22.73, up 3.13% with a trading volume of 89,800 shares and a transaction value of 204 million yuan [1] - Hailun Piano (300329) closed at 13.55, up 1.04% with a trading volume of 53,300 shares and a transaction value of 71.78 million yuan [1] - Mingyue Lens (301101) closed at 43.08, down 4.18% with a trading volume of 50,300 shares and a transaction value of 220 million yuan [2] - Other notable declines include Gaole Co. (002348) down 2.03% and Qunxing Toys (002575) down 1.96% [2] Capital Flow - On that day, the entertainment products sector saw a net inflow of 3.8453 million yuan from main funds, while retail funds had a net inflow of 6.40302 million yuan, and speculative funds experienced a net outflow of 67.8755 million yuan [2]

Market Overview - The entertainment products sector increased by 0.09% on September 17, with Helen Piano leading the gains [1] - The Shanghai Composite Index closed at 3876.34, up 0.37%, while the Shenzhen Component Index closed at 13215.46, up 1.16% [1] Top Performers - Helen Piano (300329) closed at 14.75, up 6.88% with a trading volume of 259,300 shares and a turnover of 381 million yuan [1] - Chuangyuan Co. (300703) closed at 65.39, up 4.06% with a trading volume of 165,400 shares and a turnover of 592 million yuan [1] - Jinling Sports (300651) closed at 26.15, up 2.39% with a trading volume of 263,100 shares and a turnover of 704 million yuan [1] Underperformers - Zhejiang Zhengte (001238) closed at 49.15, down 3.95% with a trading volume of 10,700 shares and a turnover of 53.7 million yuan [2] - Source Fly Pet (001222) closed at 25.01, down 2.53% with a trading volume of 38,900 shares and a turnover of 98.5 million yuan [2] - Gaole Co. (002348) closed at 4.01, down 2.43% with a trading volume of 337,700 shares and a turnover of 137 million yuan [2] Fund Flow Analysis - The entertainment products sector experienced a net outflow of 8.27 million yuan from institutional investors, while retail investors saw a net inflow of 32.31 million yuan [2] - The main stocks with significant fund flow include: - Guangbo Co. (002103) with a net outflow of 37.98 million yuan from institutional investors [3] - Mingyue Optical (301101) with a net inflow of 35.25 million yuan from institutional investors [3] - Chuangyuan Co. (300703) with a net inflow of 15.90 million yuan from institutional investors [3]

Market Overview - The entertainment products sector increased by 0.09% on September 15, with Helen Piano leading the gains [1] - The Shanghai Composite Index closed at 3860.5, down 0.26%, while the Shenzhen Component Index closed at 13005.77, up 0.63% [1] Individual Stock Performance - Helen Piano (300329) closed at 13.51, up 4.00% with a trading volume of 154,500 shares and a turnover of 206 million yuan [1] - Yingpais (002899) closed at 20.52, up 3.85% with a trading volume of 84,300 shares and a turnover of 170 million yuan [1] - Other notable performers include: - Gaole Co. (002348) at 3.99, up 1.53% [1] - Mingyue Lens (301101) at 47.50, up 1.45% [1] - Zhejiang Zhengte (001238) at 49.68, up 0.75% [1] Capital Flow Analysis - The entertainment products sector experienced a net outflow of 16.0175 million yuan from institutional funds and 16.2745 million yuan from speculative funds, while retail investors saw a net inflow of 32.292 million yuan [2] - Key stocks with significant capital flow include: - Yingpais (002899) with a net inflow of 23.9995 million yuan from institutional funds [3] - Mingyue Lens (301101) with a net inflow of 10.8961 million yuan from institutional funds [3] - Grouping of other stocks showed varied net inflows and outflows, indicating mixed investor sentiment [3]

Core Viewpoint - Mingyue Lens (301101.SZ) announced the completion of the share reduction plan by its actual controller and related parties, with no change in control or significant impact on corporate governance or operations [1][3]. Group 1: Share Reduction Details - The controlling shareholder Shanghai Industrial and its actual controllers plan to reduce their holdings by up to 6,000,000 shares, representing 2.9891% of the total share capital after excluding repurchased shares [1]. - The reduction period was from June 11, 2025, to September 10, 2025, with the actual reduction executed through centralized bidding and block trading [1][2]. - The total cash generated from the share reduction is approximately 384 million yuan [2]. Group 2: Company Background - Mingyue Lens was listed on the Shenzhen Stock Exchange's Growth Enterprise Market on December 16, 2021, with an initial public offering of 33.5854 million shares at a price of 26.91 yuan per share [3]. - The total funds raised amounted to 904 million yuan, with a net amount of 793 million yuan after deducting issuance costs, exceeding the original plan by 225 million yuan [3][4]. - The raised funds are intended for projects including high-end resin lens expansion, conventional resin lens upgrades, research and development center construction, and marketing network development [4].

证券代码：301101 证券简称：明月镜片 公告编号：2025-027 明月镜片股份有限公司 关于实际控制人及其一致行动人、董事兼高级管理人员、 特定股东减持计划期限届满暨实施结果的公告 明月镜片股份有限公司（以下简称"公司""本公司"或"明月镜片"） 控股股东上海明月实业有限公司（以下简称"上海实业"）、实际控制人谢公 晚先生、谢公兴先生、曾少华先生及其一致行动人丹阳市志明企业管理中心（有 限合伙）（以下简称"丹阳志明"）、董事兼高级管理人员曾哲先生、特定股 东上海诺伟其定位投资管理有限公司－宁波梅山保税港区诺伟其定位创业投 资合伙企业（有限合伙）（以下简称"诺伟其"）保证向本公司提供的信息内 容真实、准确和完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一 致。 2025 年 5 月 19 日，公司在巨潮资讯网（www.cninfo.com.cn）披露了《关 于实际控制人及其一致行动人、董事兼高级管理人员、持股 5%以上股东减持股 份的预披露公告》（公告编号：2025-015）。合计持有公司 126,849,000 股（占 剔除公司回购专用账户股份数 ...

Summary of Key Points Core Viewpoint - The stock of Mingyue Lens experienced a 2.17% increase, closing at 46.53 yuan, with significant block trading activity recorded on September 10 [1]. Trading Activity - A total of 10 block trades occurred, with a cumulative trading volume of 812,000 shares and a total transaction value of 33.29 million yuan [1]. - The first four trades were executed at a price of 41.00 yuan per share, with a total of 32.3 million yuan in transaction value and a consistent discount of 11.88% [1][2]. - The remaining trades also maintained the same price of 41.00 yuan, with varying volumes and transaction values, indicating a strong institutional interest [2][3]. Recent Performance - Over the past three months, Mingyue Lens has recorded a total of 59 block trades, amounting to 159 million yuan [3]. - In the last five trading days, the stock has seen a cumulative increase of 1.22%, although there has been a net outflow of 10.76 million yuan from major funds [3].