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

Core Viewpoint - Ningbo Wangke Enterprise Management Partnership (Limited Partnership), a shareholder holding 7.20% (12,168,000 shares) of Joyy Inc., plans to reduce its stake by up to 5.07 million shares, representing 3.00% of the company's total share capital, due to personal funding needs [1] Group 1 - The shareholder intends to conduct the share reduction from November 25, 2025, to February 24, 2026 [1] - The reduction will be executed through centralized bidding and/or block trading methods [1] - The total number of shares to be reduced is capped at 5.07 million [1]

Core Insights - Joyful Intelligence, established on February 3, 2005, went public on December 2, 2021, and specializes in recyclable plastic packaging products, holding a technological advantage in packaging recycling [1] Financial Performance - For Q3 2025, Joyful Intelligence reported revenue of 333 million yuan, ranking 7th in the industry, with the top competitor, Zijiang Enterprise, generating 7.822 billion yuan [2] - The company's net profit for the same period was -4.6965 million yuan, also ranking 7th, while Zijiang Enterprise's net profit was 1 billion yuan [2] Financial Ratios - As of Q3 2025, Joyful Intelligence's debt-to-asset ratio was 23.39%, down from 26.37% year-on-year, significantly lower than the industry average of 42.37%, indicating strong solvency [3] - The gross profit margin for Q3 2025 was 12.68%, down from 18.17% year-on-year, and below the industry average of 19.88%, suggesting a need for improvement in profitability [3] Management Compensation - The chairman, Luo Zhiqiang, received a salary of 1.1935 million yuan in 2024, a slight decrease from 1.2015 million yuan in 2023 [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 15.20% to 8,749, while the average number of circulating A-shares held per account increased by 17.92% to 17,800 [5]

Market Overview - The packaging and printing sector increased by 0.27% on October 28, with Joyful Intelligence leading the gains [1] - The Shanghai Composite Index closed at 3988.22, down 0.22%, while the Shenzhen Component Index closed at 13430.1, down 0.44% [1] Stock Performance - Notable gainers in the packaging and printing sector included: - Junbing Xihang (301198) with a closing price of 13.15, up 7.08% and a trading volume of 190,000 shares, totaling 247 million yuan [1] - Baosteel Packaging (601968) closed at 5.55, up 4.72% with a trading volume of 372,200 shares, totaling 205 million yuan [1] - Hongyu Packaging Materials (920274) closed at 33.17, up 4.14% with a trading volume of 34,600 shares, totaling 113 million yuan [1] Fund Flow Analysis - The packaging and printing sector experienced a net outflow of 274 million yuan from institutional investors, while retail investors saw a net inflow of 221 million yuan [2] - The sector's overall fund flow indicates a mixed sentiment, with institutional selling contrasted by retail buying [2] Individual Stock Fund Flow - Key stocks with significant fund flow include: - Yutong Technology (002831) with a net inflow of 13.54 million yuan from institutional investors, but a net outflow of 14.21 million yuan from speculative investors [3] - Baosteel Packaging (601968) had a net inflow of 8.45 million yuan from institutional investors, while speculative investors saw a net outflow of 4.55 million yuan [3] - Junbing Xihang (301198) recorded a net inflow of 0.59 million yuan from retail investors, despite a net outflow from institutional and speculative investors [3]

Core Insights - Joyy Intelligent (301198.SZ) released its Q3 2025 report on October 28, 2025, indicating significant institutional investment in the company [1] Institutional Holdings - As of October 27, 2025, four institutional investors disclosed holdings in Joyy Intelligent A-shares, totaling 64.9761 million shares, which represents 38.45% of the company's total equity [1] - The institutional investors include Cixi Tiancai Holdings Co., Ltd., Ningbo Wanke Enterprise Management Partnership (Limited Partnership), Ningbo Junke Investment Management Partnership (Limited Partnership), and Yongchao Venture Capital Co., Ltd. [1] - Compared to the previous quarter, the total institutional holding percentage decreased by 1.42 percentage points [1] Public Fund Participation - In this period, 30 public funds were not disclosed compared to the previous quarter, including notable funds such as Nuon An Multi-Strategy Mixed A, Huaxia Pantai Mixed (LOF) A, Huaxia New Brocade Mixed A, Guojin Quantitative Multi-Factor A, and Guojin Quantitative Selected A [1]

Core Points - The company guarantees the authenticity, accuracy, and completeness of the information disclosed in its quarterly report, with no false records, misleading statements, or significant omissions [2][6][11] Financial Data - The third-quarter financial report has not been audited [3][6] - The company does not require retrospective adjustments or restatements of previous annual accounting data [3] - There are no non-recurring profit and loss items applicable for the reporting period [3] Shareholder Information - The total number of common stock shareholders and the situation of the top ten shareholders are documented, but no changes due to stock lending activities are reported [5] Board Meeting - The board of directors unanimously approved the third-quarter report during the meeting held on October 27, 2025, confirming that the report accurately reflects the company's actual situation for the third quarter of 2025 [7][9] - The meeting was legally convened and complied with relevant laws and regulations [6][7]

Core Insights - The company reported a significant increase in revenue and net profit for the third quarter of 2025, indicating strong financial performance [1] Financial Performance - The company achieved a revenue of 120,581,604.96 yuan in Q3 2025, representing a year-on-year growth of 45.22% [1] - The net profit attributable to shareholders was 2,102,122.80 yuan, showing a remarkable year-on-year increase of 164.43% [1]

Group 1 - The core point of the article is that Joyy Intelligent (SZ 301198) announced the convening of its fourth board meeting on October 27, 2025, to review the third-quarter report for 2025 [1] - For the year 2024, the revenue composition of Joyy Intelligent 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] - As of the report date, the market capitalization of Joyy Intelligent is 2.1 billion yuan [1]

Core Insights - Joyy Inc. (301198.SZ) reported a revenue of 333 million yuan for the first three quarters of 2025, representing a year-on-year growth of 30.50% [1] - The net loss attributable to shareholders of the listed company was 4.6565 million yuan [1] - The net loss attributable to shareholders after deducting non-recurring gains and losses was 7.3224 million yuan [1] - The basic loss per share was 0.0276 yuan [1]

证券代码：301198 证券简称：喜悦智行 公告编号：2025-053 宁波喜悦智行科技股份有限公司 会议以投票表决方式一致通过以下议案： （一）审议通过《关于公司 2025 年第三季度报告的议案》 公司董事会严格按照相关法律、行政法规和中国证监会的规定，编制了《2025 年第三季度报告》，报告内容真实、准确、完整地反映了公司 2025 年第三季度的 实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。本议案已经公司董 事会审计委员会和独立董事专门会议审议通过。 具体内容详见公司同日披露于巨潮资讯网（www.cninfo.com.cn）的《2025 年第三季度报告》。 表决结果：5 票赞成，0 票弃权，0 票反对。 二、备查文件 第四届董事会第三次会议决议公告 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。 宁波喜悦智行科技股份有限公司（以下简称"公司"）第四届董事会第三次 会议于 2025 年 10 月 27 日下午 14 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 ...