Core Insights - The report highlights the growth in the printing and recording media reproduction industry in China, with the number of enterprises increasing by 138 to a total of 7,097, representing a year-on-year growth of 1.98% as of January to September 2025 [1] Industry Overview - The printing and recording media reproduction industry now accounts for 1.36% of the total industrial enterprises in China [1] - The threshold for scale enterprises has been raised from an annual main business income of 5 million to 20 million yuan since 2011, indicating a shift in industry standards [1] Market Research - The report titled "2026-2032 China Printing Industry Market Special Survey and Investment Prospects Analysis Report" was published by Zhiyan Consulting, a leading industry consulting firm in China [1] - Zhiyan Consulting has been dedicated to industry research for over a decade, providing comprehensive industry research reports, business plans, feasibility studies, and customized services [1]

Core Viewpoint - Joyful Intelligence experienced a 3.99% increase in stock price on November 11, with a trading volume of 74.83 million yuan, indicating positive market sentiment towards the company [1]. Financing Summary - On November 11, Joyful Intelligence had a financing buy-in amount of 10.43 million yuan, with a net financing buy of 4.45 million yuan after 5.99 million yuan in financing repayments [1]. - The total financing and securities balance for Joyful Intelligence reached 134 million yuan, accounting for 5.84% of its circulating market value, which is above the 60th percentile of the past year [1]. - The company had no short selling activity on November 11, with a short selling balance of 0.00 shares, indicating a lack of bearish sentiment in the market [1]. Business Performance - As of September 30, Joyful Intelligence reported a total of 8,749 shareholders, a decrease of 15.20% from the previous period, while the average number of circulating shares per person increased by 17.92% to 17,779 shares [2]. - For the period from January to September 2025, Joyful Intelligence achieved a revenue of 333 million yuan, reflecting a year-on-year growth of 30.50%, although the net profit attributable to the parent company was a loss of 4.66 million yuan, a decline of 176.05% compared to the previous year [2]. - Since its A-share listing, Joyful Intelligence has distributed a total of 76.28 million yuan in dividends, with 46.28 million yuan distributed over the past three years [2].

Group 1 - The core point of the news is that Joyful Intelligence experienced a slight decline in stock price and had a net financing outflow on November 10, indicating a low level of investor confidence [1] - As of November 10, the total margin balance for Joyful Intelligence was 129 million yuan, which represents 5.87% of its market capitalization, indicating a low financing level compared to the past year [1] - The company has not engaged in any short selling activities on November 10, with a short balance of 0, suggesting a lack of bearish sentiment among investors [1] Group 2 - As of September 30, the number of shareholders for Joyful Intelligence decreased by 15.20% to 8,749, while the average number of circulating shares per person increased by 17.92% to 17,779 shares [2] - For the period from January to September 2025, Joyful Intelligence reported a revenue of 333 million yuan, reflecting a year-on-year growth of 30.50%, but the net profit attributable to shareholders was a loss of 4.66 million yuan, a significant decline of 176.05% compared to the previous year [2] - Since its A-share listing, Joyful Intelligence has distributed a total of 76.28 million yuan in dividends, with 46.28 million yuan distributed over the past three years [2]

Core Viewpoint - Ningbo Joywise Technology Co., Ltd. has announced the redemption of cash management products purchased with idle raised funds, ensuring compliance with the approved limits and maintaining operational integrity [2]. Group 1: Cash Management Approval - The company held meetings on November 15, 2024, and December 3, 2024, where it approved the use of up to RMB 100 million of temporarily idle raised funds for cash management, focusing on short-term investment products with high safety and liquidity, and a maturity of no more than 12 months [2]. - The authorized management can make decisions within the approved limits and timeframe, allowing for the rolling use of funds [2]. Group 2: Redemption Status - The company has redeemed cash management products that were purchased within the authorized range, with a remaining balance of RMB 45 million in idle raised funds for cash management as of the announcement date, which is within the approved limit of RMB 100 million [2].

证券代码：301198 证券简称：喜悦智行 公告编号：2025-056 近日，公司在授权范围内使用闲置募集资金购买的理财产品已到期赎回，现 就有关进展情况公告如下： 二、公告日前公司使用募集资金进行现金管理情况（含本次） 序 号 受托人名 称 产品名称 产品类 型 认购金 额（万 元） 起息日 到期日 实际年 化收益 率 实际收益 （元） 1 杭州银行 "添利宝"结构性存 款(TLBB202516170) 保本浮 动收益 型 1,500.00 2025-8-8 2025-11-10 2.05% 79,191.78 2 杭州银行 "添利宝"结构性存 款(TLBB202516171) 保本浮 动收益 型 1,500.00 2025-8-8 2025-11-10 2.05% 79,191.78 一、本次现金产品到期赎回情况 | 序 | | | 产品类 | 认购金额 | | | | 预期年化 | 实际收益 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 号 | 受托人名称 | 产品名称 "添利宝"结 | 型 | （万元） | 起息日 ...

Group 1 - The core point of the news is that Joyful Intelligence experienced a decline in stock price and trading volume on November 6, with a net financing outflow, indicating potential investor caution [1] - On November 6, Joyful Intelligence's stock fell by 1.28%, with a trading volume of 61.08 million yuan, and a net financing buy of -1.66 million yuan, suggesting a negative sentiment among investors [1] - The total margin balance for Joyful Intelligence as of November 6 is 131 million yuan, which accounts for 5.91% of its circulating market value, indicating a relatively high level of margin financing [1] Group 2 - As of September 30, the number of shareholders for Joyful Intelligence decreased by 15.20% to 8,749, while the average circulating shares per person increased by 17.92% to 17,779 shares [2] - For the period from January to September 2025, Joyful Intelligence reported a revenue of 333 million yuan, representing a year-on-year growth of 30.50%, but the net profit attributable to shareholders was -4.66 million yuan, a significant decline of 176.05% year-on-year [2] - Since its A-share listing, Joyful Intelligence has distributed a total of 76.28 million yuan in dividends, with 46.28 million yuan distributed over the past three years [2]

Core Viewpoint - Joyy Inc. (301198.SZ) announced that its shareholder, Wangke Enterprise, holding 12.168 million shares (7.20% of total shares), plans to reduce its stake by up to 5.07 million shares (3.00% of total shares) within three months after the announcement of the reduction plan [1] Group 1 - Wangke Enterprise intends to reduce its holdings through centralized bidding and/or block trading methods [1] - The reduction will commence 15 trading days after the announcement [1] - The total number of shares to be reduced is capped at 5.07 million [1]

Group 1 - The core point of the article is that Joyy Intelligent (SZ 301198) announced a share reduction plan by a major shareholder, which may impact the company's stock performance [1] - The shareholder, Ningbo Wanke Enterprise Management Partnership, plans to reduce its holdings by up to 5.07 million shares, representing no more than 3% of the total share capital [1] - As of the report, Joyy Intelligent has a market capitalization of 2.2 billion yuan [1] Group 2 - For the fiscal year 2024, Joyy Intelligent's revenue composition is as follows: automotive manufacturing accounts for 59.7%, home appliance manufacturing for 22.41%, logistics supply chain services for 10.33%, and others for 7.57% [1]

证券代码：301198 证券简称：喜悦智行 公告编号：2025-055 宁波喜悦智行科技股份有限公司 关于持股 5%以上股东减持股份的预披露公告 持股 5%以上股东宁波旺科企业管理合伙企业（有限合伙）保证向本公司提 供的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。 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。 特别提示： 持有宁波喜悦智行科技股份有限公司（以下简称"公司"）股份 12,168,000 股（占本公司总股本比例 7.20%）的股东宁波旺科企业管理合伙企业（有限合伙） （以下简称"旺科企业"）计划自本减持计划公告披露之日起 15 个交易日后的 3 个月内以集中竞价方式及/或大宗交易方式减持其所持有的公司股份，合计减持 公司股份不超过 5,070,000 股，不超过公司总股本的 3.00%。 公司于近日收到旺科企业出具的《关于股份减持计划的告知函》，现将有关 情况公告如下： 一、股东基本情况 截至本公告披露日，具体持股情况如下： | 股东名称 | 持有公司股份数量（股） | 占公司目前总股本比例（%） | | --- | --- | --- | | 旺 ...

Core Viewpoint - Joyy Inc. (301198.SZ) announced that its shareholder, Ningbo Wanke Enterprise Management Partnership (Limited Partnership), plans to reduce its stake in the company by up to 5.07 million shares, representing no more than 3% of the total share capital [1] Summary by Category - **Shareholder Reduction Plan** - Ningbo Wanke, holding 7.20% of the shares, intends to reduce its holdings through centralized bidding and/or block trading [1] - The reduction will take place within three months following the announcement, starting 15 trading days after the disclosure [1]