Core Viewpoint - The Chinese government has officially released a revised regulation on express delivery packaging, emphasizing the importance of green packaging and the reduction of environmental pollution caused by excessive packaging [2][5]. Group 1: Regulatory Changes - The revised "Interim Regulations on Express Delivery" includes a new chapter on "express packaging," encouraging companies to use green-certified packaging materials and improve recycling rates [2]. - By 2024, the national express delivery volume is expected to exceed 170 billion packages, highlighting the need for sustainable practices in the rapidly growing industry [2]. Group 2: Green Packaging Initiatives - Companies like SF Express have adopted biodegradable packaging materials, with a decomposition rate of over 90%, replacing traditional non-environmental plastic bags [3][5]. - The introduction of the "Feng Xiaodai" biodegradable packaging by SF Express has been implemented across all its outlets, phasing out non-eco-friendly packaging [5][6]. Group 3: Reduction of Packaging Waste - SF Express has implemented a "green algorithm + quantitative allocation" system to minimize packaging waste, ensuring that delivery personnel only receive the necessary materials based on their monthly delivery volume [7][8]. - E-commerce platforms like JD.com are promoting original packaging direct shipping to reduce secondary packaging, with a goal of achieving 80% support for original packaging by 2030 [9]. Group 4: Recycling and Reusability - In cities like Jinhua, recycling points and smart recycling cabinets have been established to encourage residents to return used packaging, with incentives such as points for rewards [12]. - The China Post has developed reusable packaging solutions, such as the "π-box," which can be used over 70 times and is made from over 97% recyclable materials [13].

Group 1: Company Overview - Jiangsu Yuxing Film Technology Co., Ltd. focuses on the research, production, and sales of functional polyester films, becoming one of the largest producers in China [1] - The company maintains a leading position in the domestic market for solar backsheet polyester films and has a high market share in electrical insulation polyester films and composite base films [1][2] Group 2: Market Strategy and Product Development - In response to industry demand changes, the company is focusing on electronic optical polyester films, achieving a production volume of 37,230 tons and sales of 28,743 tons in 2024, representing year-on-year growth of 90.28% and 84.34% respectively [2] - The company is enhancing its product structure by developing high-value-added new products and optimizing its management capabilities to improve overall economic efficiency [2][5] Group 3: Industry Challenges and Responses - The demand for photovoltaic polyester films has significantly decreased due to technological iterations in photovoltaic cells, leading to a substantial drop in production and sales [2] - The company is adapting by increasing production and sales of electronic optical polyester films and modifying production lines originally intended for photovoltaic applications to enhance production capabilities for electronic optical films [4] Group 4: Future Growth and Strategic Initiatives - The company is extending its operations along the polyester industry chain, focusing on upstream functional polyester and downstream offline coating processing [4] - The implementation of national policies promoting equipment upgrades and recycling is expected to boost demand for electronic optical and battery insulation polyester films [5] Group 5: Financial Policies and Shareholder Returns - The company has a dividend policy that mandates a cash distribution of no less than 30% of the distributable profits when conditions are met, with a cumulative cash dividend of 38.75 million yuan in 2022 [6][7] - Future efforts will focus on improving operational performance to enhance dividend returns for shareholders [7]