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Group 1 - Recently, Haiqian (Suzhou) Supply Chain Management Co., Ltd. was established with a registered capital of 1 million RMB [1] - The legal representative of the company is Wang Huimin [1] - The business scope includes supply chain management services, sales of metal materials, construction steel products, bearings, gears, mechanical equipment development, and sales of industrial robots [1] Group 2 - The company is involved in various technical services, including technology development, consulting, and transfer [1] - It also engages in import and export activities, as well as sales of chemical products (excluding licensed chemical products) [1] - The company operates under the principle of conducting business activities independently based on its business license [1]

Core Viewpoint - The acquisition of 75% of China New Retail Supply Chain by Wanjing Capital for HKD 222.8 million has drawn significant attention due to the buyer's familial ties to influential figures in the business world, particularly Wang Zhenhua, the actual controller of New City Holdings [1][5]. Group 1: Acquisition Details - Wanjing Capital acquired 360 million shares, representing 75% of the company, at a price of HKD 0.6189 per share, which is an 82.32% discount compared to the last trading price of HKD 3.5 per share before suspension [2]. - If the mandatory cash offer to remaining shareholders is successful, Wanjing Capital will spend approximately HKD 297 million to acquire the entire equity of China New Retail Supply Chain [3]. - The acquisition price represents only 13.45% of the company's market value, which was HKD 2.208 billion as of August 14 [3]. Group 2: Company Background - China New Retail Supply Chain was established in September 2018 and operates primarily in Singapore, focusing on construction services and property investment, including civil engineering and logistics [3]. - The selling party, Alpine Treasure Limited, had previously acquired the same 75% stake for HKD 100 million, also at a significant discount [3][4]. Group 3: Financial Performance - The company reported a revenue of SGD 55.9736 million for the fiscal year 2024, a slight decrease of 0.15% year-on-year, and has been in a state of continuous loss for five consecutive years [4][5]. - The net loss attributed to the parent company was SGD 784,200, indicating ongoing financial challenges [5]. Group 4: Family Background and Future Implications - Wang Kaili, the 26-year-old daughter of Wang Zhenhua, is the sole owner of Wanjing Capital and has a strong academic background, which may influence future business strategies [6][7]. - Wang Zhenhua's wealth has significantly decreased from HKD 49.12 billion in 2020 to HKD 14.87 billion, reflecting a decline of nearly 70% [7][8]. - The acquisition may be a strategic move for Wanjing Capital to enter the capital market and potentially facilitate further capital operations or asset injections [5][6].

Core Insights - JD Group reported a revenue of 356.7 billion RMB (approximately 49.8 billion USD) for Q2 2025, marking a year-on-year growth of 22.4%, exceeding market expectations and setting a record for growth rate in nearly three years [1] - Since its full transition to technology in 2017, JD Group has invested over 150 billion RMB in R&D and has built supply chain infrastructure assets worth nearly 170 billion RMB, providing extensive scenarios for technology application [1] Group 1: Industrial Supply Chain Initiatives - JD Industrial has launched the first industrial model centered on supply chains, named Joy Industrial, aimed at enhancing digital supply chain service capabilities [1][3] - The "Trillion Cost Reduction" initiative has been implemented in multiple cities, promoting the digital transformation of the manufacturing supply chain and aiming to release a profit space of over one trillion RMB for the industrial sector [2] - The initiative has already been rolled out in cities including Shanghai, Shenzhen, and Guangzhou, providing comprehensive professional services to local industrial enterprises [2] Group 2: Technological Advancements - Joy Industrial integrates years of experience and data accumulation in the industrial digital supply chain field, creating a full-stack product matrix that includes algorithms, data, and applications [3][4] - The model aims to drive intelligent transformation in supply chains, enhancing cost reduction, efficiency, compliance, and supply assurance [3] Group 3: Self-operated Supply Chain Development - JD Industrial is focusing on building a self-operated supply chain system, collaborating with over a hundred leading industrial brands to enhance supply chain efficiency [5] - The company aims to provide a comprehensive range of services, including product, technical, consulting, and operational services, to support large enterprises, SMEs, and individual consumers [6] - JD Industrial emphasizes the creation of value through technology and innovation, aiming to contribute positively to the industrial sector and society [6]

证券代码：603713 证券简称：密尔克卫 公告编号：2025-074 转债代码：113658 转债简称：密卫转债 密尔克卫智能供应链服务集团股份有限公司 第四届董事会第八次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、董事会会议召开情况 表决情况：5 票同意，0 票反对，0 票弃权，同意的票数占全体董事所持的 有表决权票数的 100%。 本议案已经董事会审计委员会审议通过。 具体内容详见公司于上海证券交易所网站（www.sse.com.cn）及指定媒体披 露的《密尔克卫智能供应链服务集团股份有限公司关于"提质增效重回报"行动 方案的半年度评估报告》（公告编号：2025-077）。 表决情况：5 票同意，0 票反对，0 票弃权，同意的票数占全体董事所持的 有表决权票数的 100%。 密尔克卫智能供应链服务集团股份有限公司（以下简称"密尔克卫"、"公 司"）于 2025 年 8 月 4 日向公司全体董事发出会议通知及会议材料，以现场加 通讯表决的方式于 2025 年 8 月 14 日召开第四届董事会第八次会议 ...

Group 1 - The third China International Supply Chain Promotion Expo opened at the China International Exhibition Center in Beijing, showcasing various sectors and innovations in supply chain integration [1] - The advanced manufacturing chain focuses on sectors such as rail transportation, aerospace, low-altitude economy, industrial automation, and intelligent manufacturing, highlighting the deep integration and complementarity between domestic and foreign enterprises [2] - An innovation chain area was created this year to demonstrate the entire process of innovation results transformation and application in a real-world setting [5] Group 2 - The green agriculture chain area offers a richer and more comprehensive journey into green health, emphasizing sustainable agricultural practices [10] - The supply chain service area continues to showcase end-to-end full-link demands, with a significant increase in internationalization [15] - The digital technology chain focuses on artificial intelligence as a core theme, demonstrating AI's transformative impact across various industries [21] Group 3 - The health living chain integrates traditional medicine, healthy living, and consumer goods, forming a comprehensive health industry chain from birth to old age [29] - The smart automotive chain area presents a complete new energy vehicle industry chain, emphasizing low-carbon transformation and technological empowerment [34] - The clean energy chain showcases the entire cycle from supply to consumption, reflecting the new trends in high-quality development within the clean energy sector [40]

Core Viewpoint - Shenzhen Yiyaton Supply Chain Co., Ltd. (002183.SZ) has been subjected to administrative regulatory measures by the Shenzhen Securities Regulatory Bureau due to multiple management irregularities, particularly in corporate governance, financial accounting, and information disclosure [1][2][3] Corporate Governance - Significant deficiencies were identified in corporate governance from 2021 to 2023, including irregularities in the operation of the three meetings, incomplete meeting records, and inadequate attendance by board members [1][2] - Management of insider information was found to be lacking, with some major events not documented as required and incomplete records of insider information [1][2] Financial Accounting - Irregularities in revenue recognition were noted, with some income recognized on the day of goods shipment, contrary to disclosed policies [2] - The company failed to reasonably select forward-looking adjustment coefficients for expected credit loss calculations from 2021 to 2023 [2] - In 2022, the company did not timely recognize fair value changes in investment properties and misclassified expected sales of residential properties as construction in progress [2] Information Disclosure - In 2021, the company did not follow required board review procedures for shareholder loan matters and failed to disclose this in a timely manner [2] - Strategic cooperation agreements announced from 2021 to 2022 were not followed up with actual business developments, and the company did not maintain continuous information disclosure [2] Accountability - The chairman and general manager, Zhou Guohui, and the financial director, Mo Jing, were held primarily responsible for the identified issues and received warning letters from the regulatory authority [2] Company Response - The company has acknowledged the issues raised in the corrective order and is committed to rectifying deficiencies in governance, financial accounting, and information disclosure, while enhancing compliance and legal education [3] - The administrative measures are not expected to affect the company's normal operations, and a rectification report will be submitted within the stipulated timeframe [3] Financial Performance - The company reported revenues of 85.398 billion yuan and 94.422 billion yuan for 2022 and 2023, respectively, with a projected revenue of 77.616 billion yuan for 2024, representing a year-on-year decline of 17.8% [3] - The net profit attributable to shareholders for 2024 is projected to be 106 million yuan, down 24.92% year-on-year, marking a continuous decline over three years [3]

天眼查App显示，近日，蓬安县万联供应链管理有限责任公司成立，法定代表人为陈大秋，注册资本 5000万人民币，经营范围为一般项目：供应链管理服务；园区管理服务；计算机软硬件及辅助设备批 发；电子元器件批发；集成电路销售；光电子器件销售；通讯设备销售；集成电路芯片及产品销售；电 子产品销售；照明器具销售；智能家庭消费设备销售；音响设备销售；电力电子元器件销售；国内贸易 代理；国内货物运输代理；国内集装箱货物运输代理；道路货物运输站经营；货物进出口；采购代理服 务；销售代理；建筑工程机械与设备租赁；建筑材料销售；互联网销售（除销售需要许可的商品）。 （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）许可项目：出版物批发；出版物零 售；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， 具体经营项目以相关部门批准文件或许可证件为准）。 ...

Group 1 - The core viewpoint of the article highlights that Mingze Investment has conducted research on a listed company, Yiyaton, focusing on its integrated business model of "supply chain + industrial chain + incubator" [1] - Yiyaton's service network spans over 320 cities in mainland China and extends to more than 10 countries or regions, including Hong Kong, Singapore, and the United States [1] - The company's overseas strategy emphasizes sectors such as new energy, electromechanical equipment, and electronic products, with initial expansion plans targeting Southeast Asia and the United States [1] Group 2 - Yiyaton possesses multiple core advantages in cross-border services, including experience, industrial foundation, brand credibility, and policy support [1] - The company aims to create a collaborative ecosystem for overseas industry by integrating resources, building information platforms, and addressing customer pain points [1] - Yiyaton's subsidiary, Zhuoyou Cloud Intelligence, focuses on computing power construction and operation, promoting the development of the Hongmeng ecosystem [1] Group 3 - Yiyaton plans to explore the application of stablecoins in its overseas supply chain business [1] - In 2024, the company intends to increase efforts in new business development while optimizing internal management and cost control [1]

Group 1: Company Overview and Strategy - Yiatong was established in 1997 and is the first listed supply chain enterprise in China's A-share market, focusing on creating an integrated commercial entity combining supply chain, industry chain, and incubator services [3] - The company operates a digital supply chain platform, serving over 1 million terminal stores across more than 320 cities in mainland China and over 10 countries, including Hong Kong, Singapore, and the USA [3] - Future strategies include enhancing supply chain services while incubating domestic enterprises in sectors like information technology and storage, leveraging logistics and financial capabilities [3] Group 2: International Expansion and Market Focus - Yiatong's international strategy emphasizes industries such as new energy, electromechanical equipment, and electronic products, with a focus on Southeast Asia and the USA in the first phase of global expansion [4] - The company aims to assist domestic brands in entering overseas markets, particularly in sectors with related and extendable fields like new energy equipment [4] Group 3: Core Advantages in Cross-Border Services - With nearly 30 years of experience in cross-border services, Yiatong has developed a comprehensive understanding of policy, process optimization, and risk management, making it difficult for competitors to replicate [5] - The company has established a strong global service network and has accumulated long-term partnerships with numerous brand clients, facilitating overseas expansion [5] Group 4: Collaborative Ecosystem for Overseas Expansion - The alliance focuses on leveraging local service resources to address overseas localization challenges and creating a shared information platform to meet client needs [6] - Key initiatives include connecting global production resources, forming deep partnerships with local logistics and financial institutions, and driving digital innovation through AI and big data [6] Group 5: AI and Computing Power Business Planning - Yiatong's subsidiary, Beijing Zhuoyou Cloud Intelligence, specializes in computing power construction and operation, providing comprehensive services across various sectors, including data centers and cloud platforms [7] - The company plans to accelerate the adaptation of its services to the HarmonyOS ecosystem, supporting clients in migrating applications and enhancing operational efficiency [7] Group 6: Financial Strategies and Performance Management - In 2024, the company anticipates a slight revenue decline due to market conditions affecting traditional distribution and some industry chain businesses, while cross-border and non-traditional business volumes are growing but at a slower pace [9] - Strategies to improve performance include expanding new business efforts, optimizing internal management, and enhancing cost control measures [9]