Core Viewpoint - The report from Tianfeng Securities indicates that the company Xinju Feng's net profit attributable to shareholders for H1 2025 is 60 million, a decrease of 31% year-on-year, while Q2 net profit is 46 million, an increase of 37% [1] Group 1: Financial Performance - In H1 2025, the company actively advances the "5 billion sterile packaging materials production project," focusing on high-end products and filling equipment market technology and experience accumulation [1] - The company's overseas wholly-owned subsidiary, Jingfeng Holdings, has completed a voluntary comprehensive offer to further acquire shares of Fenmei Packaging, excluding shares held by the offeror and its concerted parties [1] - As of the end of H1 2025, the transaction has been completed, and during the integration phase, the company will analyze the differences between both parties to enhance business synergy and promote deep integration and complementarity of advantages [1] Group 2: Profit Forecast and Valuation - Considering the company's H1 2025 performance, the synergistic effects from the acquisition of Fenmei, and the current market and consumer environment, the profit forecast has been adjusted [1] - The expected net profits attributable to shareholders for 2025-2027 are projected to be 170 million, 210 million, and 260 million respectively, compared to previous estimates of 220 million and 250 million for 2025-2026 [1] - The corresponding price-to-earnings ratios are expected to be 25x, 20x, and 16x for the years 2025, 2026, and 2027 respectively [1]