天眼查App显示，近日，德州博盛包装有限公司成立，法定代表人为王平，注册资本20万人民币，经营 范围为一般项目：包装材料及制品销售；服装辅料销售；产业用纺织制成品销售；纸制品销售；包装专 用设备销售；金属包装容器及材料销售；针纺织品及原料销售；金属材料销售；橡胶制品销售；包装服 务；日用品销售；日用玻璃制品销售；专用化学产品销售（不含危险化学品）；塑料制品销售；广告发 布；广告设计、代理；木制容器销售；办公用品销售。（除依法须经批准的项目外，凭营业执照依法自 主开展经营活动）。 ...

天眼查App显示，近日，浮梁县琪兴包装经营部（个体工商户）成立，法定代表人为史家祺，注册资本 2万人民币，经营范围为一般项目：包装材料及制品销售，塑料制品销售，金属制品销售，非金属矿及 制品销售，模具销售，包装服务，专业设计服务，新型膜材料销售，专用化学产品销售（不含危险化学 品），工艺美术品及收藏品零售（象牙及其制品除外），化工产品销售（不含许可类化工产品）（除依 法须经批准的项目外，凭营业执照依法自主开展经营活动）。 ...

天眼查App显示，近日，南京蜂捷包装科技有限公司成立，法定代表人为朱飞龙，注册资本200万人民 币，经营范围为许可项目：道路货物运输（不含危险货物）（依法须经批准的项目，经相关部门批准后 方可开展经营活动，具体经营项目以审批结果为准）一般项目：技术服务、技术开发、技术咨询、技术 交流、技术转让、技术推广；包装材料及制品销售；建筑装饰材料销售；软木制品销售；木制容器销 售；木制容器制造；竹制品制造；竹制品销售；塑料制品销售；纸制品销售；金属包装容器及材料销 售；金属制品销售；建筑材料销售；办公用品销售；家具销售（除依法须经批准的项目外，凭营业执照 依法自主开展经营活动）。 ...

天眼查App显示，近日，安国市德元包装科技有限公司成立，法定代表人为郭红利，注册资本100万人 民币，经营范围为一般项目：技术服务、技术开发、技术咨询、技术交流、技术转让、技术推广；包装 服务；包装材料及制品销售；包装专用设备销售；广告设计、代理；广告制作；广告发布；平面设计； 图文设计制作；专业设计服务；企业形象策划；会议及展览服务；纸制品销售；塑料制品销售；日用木 制品销售；皮革制品销售；金属制品销售；产业用纺织制成品销售；针纺织品及原料销售；针纺织品销 售；数字技术服务；信息技术咨询服务；软件开发；新材料技术研发；货物进出口；技术进出口；进出 口代理。（除依法须经批准的项目外，凭营业执照依法自主开展经营活动）。 ...

Core Viewpoint - A new company, Bazhou Fuyun Packaging Co., Ltd., has been established with a registered capital of 100,000 RMB, focusing on various packaging and manufacturing services [1] Company Overview - The legal representative of Bazhou Fuyun Packaging Co., Ltd. is Yang Nan [1] - The company’s registered capital is 100,000 RMB [1] Business Scope - The company operates in general projects including the manufacturing of plastic packaging boxes and containers, packaging services, and the manufacturing and sales of packaging specialized equipment [1] - Additional activities include the manufacturing and sales of plastic products, paper products, and knitted or crocheted textiles and their products [1] - The company also engages in the sales of inks (excluding hazardous chemicals) and internet sales (excluding items requiring permits) [1] - The company is authorized to print packaging decoration and printed materials, which requires approval from relevant authorities before commencing operations [1]

Core Viewpoint - Angel Yeast (SH 600298) announced its board meeting on December 15, 2025, to discuss a proposal regarding guarantees for affiliated companies [1] Company Summary - For the year 2024, Angel Yeast's revenue composition is as follows: Yeast and deep processing products account for 71.42%, food raw materials for 9.45%, sugar production for 8.32%, others for 7.69%, and packaging for 2.69% [1] - As of the report, Angel Yeast has a market capitalization of 35.8 billion yuan [1]

Investment Rating - The report maintains a "Strong Buy" rating for the industry, indicating a positive outlook for investment opportunities [3]. Core Insights - The Federal Reserve's decision to lower interest rates by 25 basis points in December is expected to improve demand in the U.S. real estate sector, which could positively impact related export-oriented companies [3][7]. - The price of hardwood and softwood pulp has increased by $20 per ton, with softwood pulp priced at $700 per ton and hardwood pulp at $570 per ton, providing cost support for the pulp industry [3][7]. - The actual controller of Oppein Home announced a plan to increase shareholding by investing between 50 million to 100 million yuan, highlighting the company's strong cash position and potential for dividend support [3][7]. Summary by Sections Export Chain - The Federal Reserve's recent interest rate cut aligns with market expectations, and further cuts are anticipated next year, which may lead to improved orders for export-oriented companies [7]. - Home Depot's cautious sales guidance for the upcoming year reflects consumer hesitance in making large purchases due to high-interest rates, but growth in home renovation is expected as housing market pressures ease [7]. - Shipping costs have shown slight increases, with the CCFI and SCFI indices rising by 0.3% and 7.8% respectively [7]. Home Furnishing - Oppein Home's major shareholder has initiated a share buyback plan, indicating confidence in the company's financial health and potential for future growth [7]. - The home furnishing sector is still in an adjustment phase, but valuations are at historical lows, presenting potential investment opportunities [7]. Paper Industry - As of December 12, 2025, prices for various paper products have shown mixed trends, with white cardboard prices increasing by 20 yuan per ton, while double glue paper and copper plate paper prices have decreased [7][49]. - The pulp price increases are expected to support cost structures in the paper industry, with recommendations to focus on companies like Sun Paper and Nine Dragons Paper [3][7]. Packaging - The packaging sector is experiencing changes in control among companies, with potential impacts on stock performance [7]. - The report suggests a focus on companies with strong dividend yields and stable operations in the packaging sector [7]. Light Industry Consumption - E-commerce sales for personal care products have shown positive growth, with specific brands outperforming the market [7]. - The report highlights investment opportunities in companies involved in oral care and medical products, as well as those expanding their product lines [7]. New Tobacco Products - British American Tobacco anticipates growth in its new tobacco segment, driven by the Velo brand, while facing challenges in the HNB segment due to increased competition [11]. - The report suggests monitoring companies like Smoore International for their diverse product offerings in the new tobacco market [11]. Textile and Apparel - The textile and apparel sector has shown a decline in exports, with specific categories experiencing varying performance [25][31]. - The report recommends focusing on companies that are adapting to changing consumer demands in the apparel market [25].

天眼查App显示，近日，成都市铭晟恒创包装有限公司成立，法定代表人为颜齐伟，注册资本1万人民 币，经营范围为一般项目：包装服务；纸制品销售；包装材料及制品销售；塑料制品销售；工业设计服 务；劳务服务（不含劳务派遣）；包装专用设备销售；信息咨询服务（不含许可类信息咨询服务）；技 术服务、技术开发、技术咨询、技术交流、技术转让、技术推广。（除依法须经批准的项目外，凭营业 执照依法自主开展经营活动）。 ...

天眼查App显示，近日，潮州市新小林包装有限公司成立，注册资本1万人民币，经营范围为一般项 目：包装服务；包装材料及制品销售；塑料制品销售；互联网销售（除销售需要许可的商品）；软件销 售；广告发布；玩具销售；五金产品批发；美发饰品销售；皮革销售；日用杂品销售；灯具销售；家具 销售；文具用品批发；通讯设备销售；体育用品及器材批发；卫生洁具销售；电子产品销售；钟表销 售；服装服饰批发；服装辅料销售；化妆品批发；办公设备销售；日用百货销售；打字复印；纸制品销 售。（除依法须经批准的项目外，凭营业执照依法自主开展经营活动）。 ...

Group 1 - Huizhou Zhenhe Packaging Co., Ltd. has been established with a registered capital of 200,000 RMB [1] - The company's business scope includes the sale of packaging materials and products, food plastic packaging containers, packaging services, paper products, pulp sales, metal packaging containers and materials, and internet sales (excluding items requiring permits) [1] - The company is authorized to conduct business activities independently based on its business license, except for projects that require approval by law [1]