Core Viewpoint - The company, Ningbo Jialian Technology Co., Ltd., specializes in the research, production, and sales of plastic products, biodegradable products, and plant fiber products, with a significant focus on overseas markets and emerging technologies like 3D printing [2][7]. Group 1: Company Overview - Ningbo Jialian Technology was established on August 7, 2009, and went public on December 9, 2021. The company is located in Zhenhai District, Ningbo, Zhejiang Province [7]. - The main business revenue composition includes plastic products (84.41%), biodegradable products (14.25%), and other products (1.34%) [7]. - The company is recognized as a leading manufacturer in the global plastic dining utensils industry, with a significant portion of sales directed towards overseas markets, particularly in North America, Europe, and Oceania [2][3]. Group 2: Financial Performance - For the first half of 2025, the company achieved a revenue of 1.123 billion yuan, reflecting a year-on-year growth of 5.26%. However, the net profit attributable to the parent company was a loss of 64.67 million yuan, a decrease of 204.81% compared to the previous year [8]. - As of June 30, the number of shareholders increased by 3.72% to 5,906, with an average of 22,811 circulating shares per person, up by 34.95% [8]. Group 3: Market Dynamics - The company benefits from the depreciation of the RMB, with overseas revenue accounting for 55.43% of total revenue as of the 2024 annual report [3]. - The company has been expanding its production capacity overseas, particularly in Thailand, where it has established production lines for 3D printing materials, plastic dining utensils, and plant fiber products [3]. Group 4: Stock Performance - On September 18, the company's stock fell by 3.16%, with a trading volume of 83.15 million yuan and a turnover rate of 2.94%, resulting in a total market capitalization of 3.943 billion yuan [1]. - The average trading cost of the stock is 20.86 yuan, with the current price approaching a support level of 19.79 yuan [6].

Core Insights - The latest financing balance of the ChiNext market is 498.471 billion yuan, with a week-on-week increase of 3.744 billion yuan, indicating a positive trend in financing activities [1] - On September 15, the ChiNext index rose by 1.51%, and the total margin balance reached 500.082 billion yuan, marking a continuous increase for seven consecutive trading days [1] - Among the stocks with increased financing balances, 21 stocks saw a growth of over 10%, with Youan Design leading at a 46.81% increase [1][3] Financing Balance Increase - The total number of stocks with increased financing balances is 515, with an average increase of 3.89% on the same day [2] - Notable stocks with significant financing balance increases include: - Youan Design: 43.7842 million yuan, up 46.81%, closing at 23.25 yuan, with a daily increase of 7.14% [3] - Shengbang Co., Ltd.: 1829.4104 million yuan, up 32.01%, closing at 87.42 yuan, with a daily increase of 20.00% [3] - Hunan Yunen: 714.0541 million yuan, up 17.08%, closing at 44.23 yuan, with a daily increase of 10.77% [3] Financing Balance Decrease - A total of 429 stocks experienced a decrease in financing balances, with 20 stocks showing a decline of over 10% [4] - The stock with the largest decrease is Boyuan Co., Ltd., with a financing balance of 12.6682 million yuan, down 24.44% [4] - Other notable declines include: - Lihexing: 33.50958 million yuan, down 23.44% [4] - Hengbo Co., Ltd.: 15.7284 million yuan, down 22.02% [4]

兴业证券股份有限公司 关于宁波家联科技股份有限公司 2025 年半年度跟踪报告 | 保荐人名称：兴业证券股份有限公司 | 被保荐公司简称：家联科技 | | --- | --- | | 保荐代表人姓名：娄众志 | 联系电话：021-20370689 | | 保荐代表人姓名：许东宏 | 联系电话：021-20370689 | 一、保荐工作概述 | 项目 | 工作内容 | | --- | --- | | 1.公司信息披露审阅情况 | | | （1）是否及时审阅公司信息披露文件 | 及时审阅公司历次公告内容 | | （2）未及时审阅公司信息披露文件的次数 | 0 次 | | 2．督导公司建立健全并有效执行规章制度的 | | | 情况 | | | （1）是否督导公司建立健全规章制度（包括 但不限于防止关联方占用公司资源的制度、 | | | 募集资金管理制度、内控制度、内部审计制 | 是，已建立相关规章制度 | | 度、关联交易制度） | | | （2）公司是否有效执行相关规章制度 | 公司已有效执行相关规章制度 | | 3.募集资金监督情况 | | | （1）查询公司募集资金专户次数 | 每月 1 次 | | （2）公 ...

Core Viewpoint - The company JiaLian Technology (301193.SZ) announced a share reduction plan by its major shareholders, intending to sell up to 5,040,000 shares, representing 2.6166% of the total share capital, within a specified period from September 29, 2025, to December 28, 2025 [1] Group 1: Shareholder Actions - Major shareholders Ningbo Zhenhai JinSu and Ningbo Zhenhai JinMo plan to reduce their holdings in JiaLian Technology [1] - As of the announcement date, Ningbo Zhenhai JinSu holds 14,400,000 shares (7.4761% of total shares), and Ningbo Zhenhai JinMo holds 5,760,000 shares (2.9905% of total shares), totaling 20,160,000 shares (10.4666% of total shares) [1] Group 2: Financial Performance - For the first half of 2025, JiaLian Technology reported revenue of 1.123 billion yuan, a year-on-year increase of 5.26% [2] - The company recorded a net loss attributable to shareholders of 64.67 million yuan, compared to a profit of 61.70 million yuan in the same period last year [2] - The net cash flow from operating activities was 232,500 yuan, a significant decline of 99.79% year-on-year [2] Group 3: Fundraising Activities - JiaLian Technology went public on December 9, 2021, raising a total of 922 million yuan, with a net amount of 828 million yuan after deducting issuance costs [2] - The company initially planned to raise 466 million yuan for various projects, ultimately exceeding its target by 362 million yuan [2] - The total amount raised by JiaLian Technology since its listing amounts to 1.672 billion yuan [5]

Core Viewpoint - The company, Jialian Technology, announced that its board of directors approved a proposal regarding the non-early redemption of "Jialian Convertible Bonds" during the 22nd meeting of the third board session [2] Group 1 - The board meeting took place on the evening of September 5 [2] - The proposal concerning the convertible bonds was specifically about not redeeming them early [2]

Group 1 - Baoti shares: The controlling shareholder has increased its stake by 1.004% [1] - Chengda Pharmaceutical: Qianhai Shengtai plans to reduce its holdings by 7.27% [1] - Huawu Co., Ltd.: Nie Jinghua and others plan to reduce their holdings by no more than 3% within three months [1] Group 2 - Changjiang Materials: The controlling shareholder plans to reduce its holdings by no more than 3% [1] - Weishi Electronics: The controlling shareholder's reduction plan does not exceed 3% [1] - Jialian Technology: A related party plans to reduce its holdings by 2.6166% within three months [1] Group 3 - Funeng Technology: Shareholders plan to reduce their holdings by no more than 2% [1] - Lanfeng Biochemical: Hainan Wenqin reduced its holdings by 2.00% [1] - Koweil: Shareholders Jingkun Investment and Hetu Investment plan to reduce their holdings by no more than 2.34% [1] Group 4 - Huayin Power: Hunan Energy plans to reduce its holdings by 1% [1] - Bid Pharmaceutical: Zhoushan Xinxin plans to reduce its holdings by 1.00% [1] - Guanhao High-tech: Shareholder Yuechuang Investment plans to reduce its holdings by no more than 1% [1] Group 5 - Juxin Technology: Zhuhai Chenyour plans to reduce its holdings by no more than 0.5% [1] - Tianji Shares: Shantou Tianji reduced its holdings by 0.61% [1]

Group 1 - The company, Jialian Technology, announced on September 5, 2025, that it will not exercise the early redemption rights for its "Jialian Convertible Bonds" [1] - The board of directors decided that for the next three months, from September 8, 2025, to December 5, 2025, the company will not exercise the early redemption rights even if the conditions for redemption are triggered [1] - After December 5, 2025, the company will reassess the situation and may hold another board meeting to decide on the early redemption rights if the conditions are met again [1]

Core Viewpoint - Ningbo Jialian Technology Co., Ltd. announced a pre-disclosure regarding the share reduction plan by its controlling shareholders and actual controllers' concerted actors [1][2] Group 1: Shareholding Information - Ningbo Zhenhai Jinshu Equity Investment Management Partnership (Limited Partnership) holds 14.4 million shares, accounting for 7.4761% of the total share capital, while Ningbo Zhenhai Jinmo Equity Investment Management Partnership (Limited Partnership) holds 5.76 million shares, accounting for 2.9905% [1] - Together, these two entities hold a total of 20.16 million shares, representing 10.4666% of the company's total share capital [1] Group 2: Reduction Plan Details - The planned share reduction will occur within three months from September 29, 2025, to December 28, 2025, with a maximum of 5.04 million shares, or 2.6166% of the total share capital [2] - The reduction will be executed through centralized bidding and block trading, with a maximum of 1.0000% through centralized bidding and 1.6166% through block trading [2] Group 3: Reasons for Reduction - The reduction is primarily aimed at meeting the financial needs of employees to improve their living conditions, thereby enhancing the incentive effect of the employee shareholding platform [2] - The shares being reduced are from the pre-IPO shares, including those increased due to rights distributions during the holding period [2] Group 4: Compliance and Commitments - Both entities have adhered to previous commitments regarding shareholding and reduction, with no violations reported [3] - The company confirms that the reduction plan aligns with previously disclosed intentions and commitments, and it will not affect the company's governance structure or ongoing operations [3]

Group 1 - The company JiaLian Technology (301193.SZ) announced that Zhenhai JinSu and Zhenhai JinMo plan to reduce their holdings of the company's shares by a total of no more than 5.04 million shares, which accounts for no more than 2.6166% of the company's total share capital [1] - The reduction will take place within three months, specifically from September 29, 2025, to December 28, 2025, through methods recognized by the Shenzhen Stock Exchange, including centralized bidding and block trading [1] - The announcement was made on September 5, 2023, indicating a strategic move by the shareholders to decrease their stake in the company [1]

Group 1 - The company announced that shareholders Zhenhai Jinshu and Zhenhai Jinmo plan to reduce their holdings by a total of up to 5.04 million shares, which represents no more than 2.6166% of the company's total share capital [1]