Core Viewpoint - Ningbo Jialian Technology Co., Ltd. is experiencing growth in its stock performance and is positioned to benefit from trends in biodegradable plastics, 3D printing, and cross-border e-commerce [1][2]. Company Overview - Ningbo Jialian Technology specializes in the research, production, and sales of plastic products, biodegradable products, and plant fiber products, with a revenue composition of 84.41% from plastic products, 14.25% from biodegradable products, and 1.34% from other sources [7]. - The company was established on August 7, 2009, and went public on December 9, 2021 [7]. Financial Performance - For the period from January to September 2025, the company achieved a revenue of 1.865 billion yuan, reflecting a year-on-year growth of 8.25%. However, the net profit attributable to shareholders was a loss of 73.81 million yuan, a decrease of 209.95% compared to the previous year [8]. - As of September 30, 2025, the company had a total of 6,828 shareholders, an increase of 15.61% from the previous period, with an average of 20,195 circulating shares per shareholder, down by 11.47% [8]. Market Position and Strategy - The company is a leading player in the global plastic dining utensils manufacturing industry, with 70.47% of its sales coming from exports as of 2021, primarily to developed regions such as North America, Europe, and Oceania [2][3]. - The company has also expanded its online market presence through cross-border e-commerce platforms [2]. Production Capacity and Expansion - The company has established a significant overseas production capacity in Thailand, which includes production lines for 3D printing materials, plastic dining utensils, and plant fiber products, with these lines gradually entering production [3]. Stock Performance - On November 10, the stock price of Jialian Technology increased by 1.23%, with a trading volume of 24.5791 million yuan and a turnover rate of 0.95%, bringing the total market capitalization to 3.693 billion yuan [1].

Core Viewpoint - Ningbo Jialian Technology Co., Ltd. is focusing on biodegradable plastics, 3D printing, and cross-border e-commerce, benefiting from the depreciation of the RMB and the Belt and Road Initiative [2][3]. Company Overview - Ningbo Jialian Technology Co., Ltd. specializes in the research, production, and sales of plastic products, biodegradable products, and plant fiber products, with a revenue composition of 84.41% from plastic products, 14.25% from biodegradable products, and 1.34% from others [7]. - The company was established on August 7, 2009, and went public on December 9, 2021 [7]. Financial Performance - For the period from January to September 2025, the company achieved a revenue of 1.865 billion yuan, representing a year-on-year growth of 8.25%. However, the net profit attributable to shareholders was a loss of 73.81 million yuan, a decrease of 209.95% year-on-year [8]. - As of September 30, 2025, the company had a total of 6,828 shareholders, an increase of 15.61% from the previous period [8]. Market Position and Strategy - The company is a leading player in the global plastic dining utensils manufacturing industry, with 70.47% of its sales coming from exports in 2021, primarily to developed regions such as North America, Europe, and Oceania [2][3]. - The company has also expanded its online market through cross-border e-commerce platforms [2]. Production Capacity - The company's factory in Thailand serves as a significant overseas production capacity node, with multiple production lines for 3D printing materials, plastic dining utensils, and plant fiber products gradually entering production [3]. Stock Performance - On November 7, the company's stock fell by 0.74%, with a trading volume of 21.36 million yuan and a market capitalization of 3.648 billion yuan [1]. - The average trading cost of the stock is 20.33 yuan, with the stock price near a support level of 18.61 yuan [6].

Core Viewpoint - Ningbo Jialian Technology Co., Ltd. is focusing on biodegradable plastics, 3D printing, and cross-border e-commerce, benefiting from the depreciation of the RMB and the Belt and Road Initiative [2][3]. Company Overview - Ningbo Jialian Technology Co., Ltd. specializes in the research, production, and sales of plastic products, biodegradable products, and plant fiber products, with a revenue composition of 84.41% from plastic products, 14.25% from biodegradable products, and 1.34% from others [7]. - The company was established on August 7, 2009, and went public on December 9, 2021 [7]. Financial Performance - For the period from January to September 2025, the company achieved a revenue of 1.865 billion yuan, representing a year-on-year growth of 8.25%. However, the net profit attributable to the parent company was -73.8145 million yuan, a decrease of 209.95% year-on-year [8]. - As of September 30, 2025, the company had a total of 6,828 shareholders, an increase of 15.61% from the previous period, with an average of 20,195 circulating shares per person, a decrease of 11.47% [8]. Market Position and Strategy - The company is a leading player in the global plastic dining utensils manufacturing industry, with 70.47% of its sales coming from exports in 2021, primarily to developed regions such as North America, Europe, and Oceania [2][3]. - The company has also expanded its online market through cross-border e-commerce platforms [2]. Production Capacity - The company's Thai factory is a key overseas production capacity node, currently producing various products including 3D printing filaments, plastic dining utensils, and plant fiber products [3]. Stock Performance - On November 5, the company's stock price decreased by 0.16%, with a trading volume of 17.2581 million yuan and a turnover rate of 0.66%, resulting in a total market capitalization of 3.695 billion yuan [1].

Core Insights - JiaLian Technology, established in 2009 and listed in 2021, is a significant manufacturer in the global biodegradable plastic products industry, with a comprehensive product range including biodegradable materials and products, plastic products, and plant fiber products [1] Financial Performance - For Q3 2025, JiaLian Technology reported revenue of 1.865 billion yuan, ranking 7th in the industry out of 24 companies, while the industry leader, Bull Group, achieved revenue of 12.198 billion yuan [2] - The net profit for the same period was -87.406 million yuan, placing the company 23rd in the industry, with the top performer, Bull Group, reporting a net profit of 2.982 billion yuan [2] Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 65.99%, an increase from 56.43% in the previous year, significantly higher than the industry average of 35.61% [3] - The gross profit margin for Q3 2025 was 14.97%, down from 18.69% year-on-year, and below the industry average of 27.17% [3] Executive Compensation - The chairman, Wang Xiong, received a salary of 988,400 yuan in 2024, a decrease of 81,400 yuan from 2023 [4] - The general manager, Ma Henghui, earned 1.3378 million yuan in 2024 [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 15.61% to 6,828, with an average holding of 20,200 shares, a decrease of 11.47% [5] Business Highlights - In Q2 2025, the company reported revenue of 600 million yuan, a year-on-year increase of 9%, with a net profit of -40 million yuan [6] - Domestic market demand expansion is a key driver for revenue growth, supported by "dual carbon" policies and recovery in the tea and fast-food sectors [6] - The company is focusing on biodegradable plastic products to replace traditional plastics, enhancing market opportunities [6] - A global production network is being established, with localized production bases in emerging markets like Southeast Asia [6]

Core Viewpoint - The company, Ningbo Jialian Technology Co., Ltd., is experiencing a decline in stock price while maintaining a significant portion of its revenue from overseas markets, benefiting from the depreciation of the RMB and its focus on biodegradable and 3D printing materials [1][3]. Company Overview - Ningbo Jialian Technology Co., Ltd. specializes in the research, production, and sales of plastic products, biodegradable products, and plant fiber products, with a revenue composition of 84.41% from plastic products, 14.25% from biodegradable products, and 1.34% from other sources [7]. - The company was established on August 7, 2009, and went public on December 9, 2021 [7]. Financial Performance - For the period from January to September 2025, the company achieved a revenue of 1.865 billion yuan, representing a year-on-year growth of 8.25%. However, the net profit attributable to the parent company was a loss of 73.8145 million yuan, a decrease of 209.95% year-on-year [8]. - As of September 30, 2025, the company had 6,828 shareholders, an increase of 15.61% from the previous period, with an average of 20,195 circulating shares per person, a decrease of 11.47% [8]. Market Position and Strategy - The company has a strong focus on PLA material research and application, particularly in the consumer-grade FDM materials and products sector, with a broad application potential in industrial design, education, toys, and medical fields [2][3]. - The company has established a significant overseas revenue share of 55.43%, primarily from exports to developed regions such as North America, Europe, and Oceania, with 70.47% of sales coming from exports in 2021 [3][8]. - The company is also expanding its online market presence through cross-border e-commerce platforms [3]. Production Capacity - The company's factory in Thailand serves as a key overseas production capacity node, with multiple production lines for 3D printing materials, plastic dining utensils, home products, and plant fiber products gradually entering production [3].

Core Insights - Jia Lian Technology (301193.SZ) reported its Q3 2025 results on October 29, 2025, highlighting a total of 5 institutional investors holding shares, amounting to 26.45 million shares, which represents 13.55% of the total share capital [1] Institutional Holdings - The total institutional holding percentage decreased by 0.49 percentage points compared to the previous quarter [1] - The institutional investors include Ningbo Zhenhai Jin Su Equity Investment Management Partnership (Limited Partnership), Ningbo Zhenhai Jin Mo Equity Investment Management Partnership (Limited Partnership), Ningbo Shimao Energy Co., Ltd., and others [1] Public Fund Disclosures - Two new public funds were disclosed this quarter, namely the China Merchants Balanced Preferred Mixed A and Great Wall Anxin Return Mixed A [1] - Eight public funds were not disclosed this quarter compared to the previous quarter, including funds such as China Europe Growth Enterprise Board Two-Year Mixed A and others [1]

Group 1 - Company Halian Technology (SZ 301193) announced on October 29 that its 23rd meeting of the 3rd board of directors was held on October 28, 2025, to review the proposal for the "2025 Q3 Report" [1] - For the year 2024, the revenue composition of Halian Technology is 100.0% from the rubber and plastic products manufacturing industry [1] Group 2 - The A-share market has surpassed 4000 points, marking a significant resurgence after ten years of stagnation, with a new "slow bull" market pattern emerging driven by technology [1]

Core Viewpoint - JiaLian Technology (301193.SZ) reported a revenue of 1.865 billion yuan for the first three quarters of 2025, reflecting a year-on-year growth of 8.25% [1] Financial Performance - The net loss attributable to shareholders of the listed company was 73.8145 million yuan [1] - The net loss attributable to shareholders, excluding non-recurring gains and losses, was 80.7993 million yuan [1] - The basic loss per share was 0.3832 yuan [1]

| 证券代码：301193 | 证券简称：家联科技 | 公告编号：2025-080 | | --- | --- | --- | | 债券代码：123236 | 债券简称：家联转债 | | 宁波家联科技股份有限公司 关于使用部分闲置募集资金暂时补充流动资金的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 宁波家联科技股份有限公司（以下简称"公司"）于 2025 年 10 月 28 日召开 了第三届董事会第二十三次会议，审议通过了《关于使用部分闲置募集资金暂时 补充流动资金的议案》，同意公司在不影响募投项目建设资金需求和募投项目正 常进行的前提下，使用不超过人民币 18,000.00 万元（含本数）闲置募集资金暂 时补充流动资金，用于主营业务相关的生产经营，使用期限自本次董事会审议批 准该议案之日起不超过 12 个月，到期将归还至公司募集资金专户。现将具体情 况公告如下： 一、募集资金基本情况 截至 2025 年 9 月 30 日，公司募投项目投入金额为人民币 54,595.05 万元。 三、本次使用闲置募集资金暂时补充流动资金的情况 （一）闲置的情况及原因 ...

| 证券代码：301193 | 证券简称：家联科技 | 公告编号：2025-078 | | --- | --- | --- | | 债券代码：123236 | 债券简称：家联转债 | | 宁波家联科技股份有限公司 第三届董事会第二十三次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 宁波家联科技股份有限公司（以下简称"公司"）第三届董事会第二十三次会 议于 2025 年 10 月 28 日上午 10:00 时在公司会议室以现场及通讯表决相结合的 方式召开。本次会议通知于 2025 年 10 月 17 日以电子邮件方式发出，会议应出 席董事 7 人，实际出席董事 7 人。会议由董事长王熊先生召集并主持，公司高级 管理人员列席本次会议。本次会议的召集、召开符合《中华人民共和国公司法》 和《公司章程》的有关规定，会议合法有效。 二、董事会会议审议情况 经与会董事认真审议，一致通过以下决议： （一）审议通过《关于公司<2025 年第三季度报告>的议案》 表决结果：7 票赞成，0 票弃权，0 票反对。 三、备查文件 1、第三届董事会 ...