Core Viewpoint - Xiamen Jihong Technology Co., Ltd. (Jihong Co.) has made a significant market debut, becoming the first "AI cross-border social e-commerce A+H stock" in the Hong Kong market, reflecting the strong momentum of China's cross-border e-commerce industry amid globalization and digitalization [1][3] Group 1: Company Performance - In 2024, Jihong Co. achieved impressive financial results with a revenue of 552.93 million yuan and a net profit of 18.19 million yuan [4] - The company's cross-border social e-commerce business generated revenue of 336.59 million yuan, becoming the core engine of its growth [4] - Jihong Co. ranks second in the Chinese B2C export e-commerce sector with a 1.3% market share [4] Group 2: Business Model and Strategy - Jihong Co. operates under a dual-driven business model, combining cross-border social e-commerce with paper packaging solutions [3][4] - The company employs a unique "goods find people" model, leveraging consumer data to identify needs and guide purchasing decisions, contrasting with the traditional "people find goods" approach [5][6] - The cross-border social e-commerce business accounted for 60.9% of total revenue in 2024, with a high gross margin of 60.5% [6] Group 3: Packaging Solutions - Jihong Co. is a leading provider of one-stop paper packaging solutions, integrating various processes from design to logistics [8][9] - The company holds a 1.2% market share in the Chinese paper packaging sector, ranking first in revenue among domestic companies [9] - The paper packaging market in China is projected to grow from 1,456 billion yuan in 2020 to 1,703 billion yuan in 2024, with expectations to reach 2,227 billion yuan by 2029 [9] Group 4: Environmental and Market Trends - The company is positioned to benefit from increasing environmental awareness and stringent ESG policies, which are reshaping the packaging industry [10][11] - Jihong Co. has seen its paper packaging output rise from 846.7 million square meters in 2022 to 1,026.1 million square meters in 2024 [11] - The company has established partnerships with major brands like Yili and McDonald's, enhancing its market presence [12] Group 5: Future Outlook - Jihong Co. aims to transition from merely "cross-border selling" to "brand output," with a target to increase brand business contribution to 30% by 2027 [13] - The company's strategic focus includes leveraging AI technology and expanding its brand matrix to explore new valuation opportunities [14]

通过社交电商模式开拓跨境业务，成为公司重要增长动能。 5月27日，厦门吉宏科技股份有限公司（吉宏股份，02603.HK/002803.SZ）正式在港交所挂牌上市。 此外，上交所发布沪港通下港股通标的调整通知，吉宏股份被调入沪港通下港股通标的名单，成为首 家港股发行上市就纳入港股通的企业。 上市首日，吉宏股份开盘报11港元/股，较发行价上涨43.23%，市值突破50亿港元。 资料显示，吉宏股份成立于2003年，早期以快消品包装业务为核心，凭借高精度印刷技术和规模化生 产能力，与伊利、瑞幸咖啡等知名快消品牌建立密切合作，是为数不多的有能力提供涵盖完整生产过 程的一站式包装解决方案的中国纸制快消品包装解决方案公司之一。 2017年，吉宏股份捕捉到东南亚电商渗透率快速提升的机遇，依托包装业务积累的供应链资源，创新 性地采用社交电商模式开拓跨境业务。经过多年深耕，该业务已成为公司重要增长动能。 作为一家"数据为轴，技术驱动"的企业，吉宏股份专注于通过独立站模式提供多样化的商品和服务， 通过"货找人"的业务模式，大幅降低客户找货时间成本，提升客户购物体验。 同时，吉宏股份还通过AI技术赋能的全球化布局已形成差异化竞争力， ...

Company Overview - Xiamen Jihong Technology Co., Ltd. (referred to as "Jihong Co.") officially listed on the Hong Kong Stock Exchange on May 27, 2025, under the stock code 02603.HK [1] - Established in 2003, Jihong Co. operates in cross-border e-commerce and paper packaging for fast-moving consumer goods (FMCG) [3] - The company aims to provide one-stop paper packaging products and services for FMCG clients, focusing on marketing strategies, product design, process design, technical planning, and logistics [3] Industry Insights - The B2C cross-border social media e-commerce business in Asia (excluding mainland China) is expected to experience strong growth due to factors such as a large population base, increasing internet penetration, and a growing middle class [5] - The market size for China's B2C export social media e-commerce in Asia is projected to reach USD 29.1 billion in 2024, with an expected growth to USD 69.5 billion by 2029, reflecting a compound annual growth rate (CAGR) of 19.0% from 2024 [5][8] Market Drivers for Social Media E-commerce - Continuous growth in social media platform traffic due to an expanding user base and increased time spent on these platforms [8] - Advancements in data analytics and advertising technology enhance platforms' ability to understand consumer needs and identify potential buyers, increasing purchase motivation and conversion rates [8] - Growing consumer trust in social media platforms, leading to a higher likelihood of purchasing through these channels [8] Market Dynamics for Paper Packaging - The market size for paper packaging in China's FMCG sector has grown from RMB 145.6 billion in 2020 to RMB 170.3 billion in 2024, with expectations to reach RMB 222.7 billion by 2029 [8][10] - Key drivers include the accelerated launch of new products in response to rising consumer expectations and the increasing frequency of product category updates [10] - Environmental policies promoting the use of paper packaging over plastic are expanding market opportunities, as paper is biodegradable and offers superior packaging performance [10][11] - The need for enhanced packaging value due to intense competition in the FMCG sector is driving investment in paper packaging solutions [11]

Core Viewpoint - Jihong Co., Ltd. has successfully listed on the Hong Kong Stock Exchange, becoming the first company in Xiamen to achieve "A+H" listing, which is expected to enhance its industry competitiveness and brand influence [1][4]. Company Overview - Jihong Co., Ltd. was established in 2003 in Xiamen and specializes in color printing packaging design and production, covering various sectors including fast-moving consumer goods, food packaging, and electronics packaging [4]. - The company has transformed into a dual-driven enterprise based on technology, innovation, and digital empowerment, with cross-border social e-commerce and paper-based fast-moving consumer goods packaging solutions [4]. Financial Performance - For 2024, Jihong Co., Ltd. is projected to achieve total revenue of 5.529 billion RMB and a net profit of 184 million RMB [6]. - The revenue from the cross-border social e-commerce business is expected to be 3.366 billion RMB, accounting for 60.9% of total revenue, while the paper packaging business is projected to generate 2.099 billion RMB, making up 38.0% of total revenue [6]. - The gross margin of the cross-border social e-commerce business has improved from 40.5% in 2022 to 43.8% in 2024, contributing to the overall increase in the company's gross margin [6]. IPO Details - Jihong Co., Ltd. raised approximately 522 million HKD through its IPO, with around 40% of the funds allocated for overseas market expansion, 35% for technology development, 15% for expanding brand portfolio and developing existing self-owned brands, and the remaining 10% for working capital and general corporate purposes [6].

Group 1: Company Overview - Jihong Co., Ltd. (吉宏股份) is a leading player in the cross-border social e-commerce sector and has established itself as a key provider of paper packaging products for fast-moving consumer goods (FMCG) since its founding in 2003 [1][4] - The company went public on the Shenzhen Stock Exchange in July 2016 and expanded its business into cross-border social e-commerce in 2017, which has since become its primary revenue source [1][4] - Jihong Co., Ltd. aims to leverage its dual business model of cross-border social e-commerce and paper packaging to create synergies and mitigate risks [4] Group 2: Market Performance and Financials - Jihong Co., Ltd. reported total revenues of CNY 5.376 billion, CNY 6.695 billion, and CNY 5.529 billion for the years 2022, 2023, and 2024 respectively, with net profits of CNY 172 million, CNY 332 million, and CNY 184 million during the same period [6] - In Q1 2025, the company achieved revenue of CNY 1.477 billion, representing a year-on-year growth of 11.55%, with a net profit of CNY 59.16 million, up 38.21% [6] Group 3: IPO and Fund Utilization - The company has set the final price for its H-share IPO at HKD 7.68 per share, with trading expected to commence on May 27, 2025 [1] - Proceeds from the IPO will be allocated as follows: approximately 40% for overseas market expansion, 35% for technology development, 15% for brand expansion, and 10% for working capital [7][8] Group 4: Industry Trends and Growth Potential - The cross-border social media e-commerce sector in China is rapidly reshaping global trade, with a projected market size of USD 927.6 billion by 2029, accounting for 11.4% of the global B2C e-commerce market [3] - The Asian e-commerce market, particularly outside of China, is expected to show significant growth potential due to factors such as a large population base, increasing internet penetration, and a growing middle class [2][3]

来源：光明网 光明网讯5月24日至25日，由北京通用人工智能学会主办的首届国际通用人工智能大会在北京召开。作 为我国首个聚焦通用人工智能（AGI）的国际学术盛会，来自全球数十个国家和地区的近千位专家、学 者、技术领袖齐聚一堂，深度碰撞AGI原创性技术路线。 人工智能的终极目标是实现通用人工智能（AGI），通用人工智能就是要重造能够匹配人类各种能力与 智力、符合人类情感与伦理价值的通用智能体。然而，当前的AGI叙事被西方国家主导，中国能否在通 用人工智能领域建立自主的、原创的独立思想和流派，关系到能否在这场科技竞争中抢占制高点。 具身智能与机器人专题会议汇聚全球具身智能领域权威学者，分享多模态感知、运动控制、仿生机器人 等领域的最新研究，探索智能体如何通过物理交互实现真正的环境理解和自主决策等关键科学问题的突 破路径。 全球智慧激荡，打造AGI学术高地 本届大会展示了当前全球AGI领域的最前沿研究，涵盖4场专题报告、6个专题会议，邀请了来自哈佛大 学、加州大学圣地亚哥分校、新加坡管理大学、莫斯科国立罗蒙诺索夫大学、北京大学、清华大学等国 内外知名高校及研究机构的40余位嘉宾进行高密度学术演讲。 北京通用人工智能 ...

Group 1 - The core argument of the article revolves around the critique of elite education, highlighting that it produces intelligent individuals lacking in self-awareness and personal fulfillment [5][6][21] - The author, William Deresiewicz, emphasizes that the situation regarding elite education has worsened over the past decade, with acceptance rates at top universities like Stanford and Harvard dropping from approximately 7-8% to around 4% [6][7] - The impact of social media and the COVID-19 pandemic on students' mental health is discussed, indicating that these factors have exacerbated issues related to anxiety, loneliness, and self-worth among young people [7][8] Group 2 - Deresiewicz argues that students need unstructured time to explore their interests and passions, which is essential for developing a sense of self and understanding what is truly important to them [9][10] - The article discusses the importance of allowing young people to make choices and learn from their mistakes, suggesting that this process is crucial for personal growth and developing a deeper understanding of life [15][19] - The author critiques the current educational system for prioritizing utilitarian outcomes over meaningful experiences, which leads to a lack of fulfillment and a sense of disconnection among students [22][23] Group 3 - The discussion includes the role of humanities and liberal arts in education, arguing that these fields are vital for exploring human meaning and purpose, and should not be diminished in favor of more practical disciplines [24][26] - Deresiewicz highlights the increasing value of human skills in the age of AI, suggesting that emotional intelligence, creativity, and interpersonal skills are irreplaceable and essential for future success [25][26] - The article concludes with a call for a reevaluation of educational priorities, advocating for a balance between practical skills and the exploration of human experience and values [22][24]

Core Concept - The application of information technology in digital marketing focuses on utilizing modern tech methods to conduct efficient, precise, and targeted marketing activities [1] Group 1: Social Media Marketing - Social media serves as the core platform for digital marketing, allowing companies to build official accounts and share valuable information to promote their brands [2] - Companies can leverage precise targeting capabilities based on demographics and interests to enhance marketing effectiveness [2] Group 2: Search Engine Optimization (SEO) - SEO has become increasingly important as users frequently rely on search engines for information, necessitating careful adjustments to keywords and website layout to improve search rankings [3] - A small travel company successfully increased website traffic and sales by analyzing popular travel keywords and optimizing their content and link structure [3] - SEO requires ongoing maintenance and adaptation to search engine algorithm changes for sustained performance [3] Group 3: Content Marketing - Creating valuable content can attract potential customers and build trust, as seen with tech blogs that analyze industry trends [4] - Various content formats, such as text, images, and videos, can cater to different user preferences, effectively driving consumer interest and purchase intent [4] Group 4: Email Marketing - Email marketing is a direct and effective promotional method widely used in e-commerce, allowing companies to communicate key information like promotions and new product launches [7] - Personalized emails based on user shopping history can significantly enhance customer retention and brand loyalty [7] Group 5: Big Data Analytics - Big data analytics plays a crucial role in digital marketing by helping companies understand consumer behavior and preferences for more precise marketing strategies [8] - E-commerce platforms can improve conversion rates by recommending products based on user data analysis [8] Group 6: Marketing Automation - Marketing automation enhances effectiveness while reducing time and labor costs, allowing for automatic email sending based on user behavior [9] - Continuous engagement with potential customers through automated marketing activities can increase sales success rates [9]

Group 1 - The core idea is that childhood experiences, particularly those involving parental relationships, significantly influence an individual's social skills and emotional management in adulthood [2][11][32] - Children raised in controlling or emotionally neglectful environments often struggle with self-confidence and social interactions [3][4][13] - The impact of family conflict on children's social abilities is profound, leading to avoidance behaviors and difficulties in forming stable relationships [23][24][30] Group 2 - The article identifies three main reasons for social difficulties stemming from parental influence: lack of social skills in parents, family conflict, and distorted personality development [5][14][25] - Parents who lack social skills may restrict their children's social interactions, leading to social anxiety in adulthood [6][12][13] - Children exposed to family conflicts often develop a confused understanding of relationships and may avoid intimacy due to fear [18][20][24] Group 3 - A real case study illustrates the effects of a controlling and emotionally abusive family environment on an individual's self-esteem and social capabilities [40][41][47] - The case highlights the concept of insecure attachment, where children learn to distrust themselves and others due to unstable parental support [48] - Strategies for overcoming these challenges include understanding the impact of one's upbringing, practicing communication, and engaging in self-affirmation exercises [51][53][56]

近期以"谷子经济"、宠物经济为代表的新消费概念股在A股市场关注度提升。这一现象的背后是以Z世 代为代表的年轻消费者消费偏好的改变。国家统计局数据显示，中国Z世代(1995-2009年出生)人口规模 达2.8亿，年消费规模突破5万亿元。 显然他们的消费行为正在重塑商业逻辑——从"购买商品"转向"购买意义"。当一枚限量徽章被炒至7.2 万元，一只智能猫砂盆年销增长200%，背后不仅是市场规模的膨胀，更是一场关于情感、社交与身份 认同的深层变革。 除了情感投射外，消费行为在Z世代眼中，本质是一场社交表演。谷子爱好者热衷在社交媒体"晒谷"， 通过展示稀有徽章或手办获得圈内认同；泡泡玛特用户则形成独特的"盲盒社交生态"，开箱视频与交换 活动成为维系关系的纽带。这种社交属性不仅增强用户黏性，更催生二级市场的繁荣。 情感经济：为"情绪价值"买单的逻辑重构 具体来看，传统消费主义强调功能与性价比，而Z世代的消费决策则被"情绪价值"主导。这一特征在当 下火热的谷子经济和宠物经济中表现突出。 你能想象吗？一块看似不起眼的"吧唧"(通常指动漫或游戏角色的徽章)竟然能被炒出天价。据钛媒体等 报道，《排球少年》里西谷夕角色的吧唧，在二 ...