Group 1: Report Overview - The report is about a research meeting of Zhongrong Co., Ltd. in the packaging materials industry on September 23, 2025 [1][2] Group 2: Research Basic Information - The research object is Zhongrong Co., Ltd., belonging to the packaging materials industry, and was received on September 23, 2025. The company's receptionists include the board secretary Chen Binhai, the financial director Zhao Qi, and the securities affairs representative Lin Guihua [17] Group 3: Detailed Research Institutions - The reception object includes a light - industry analyst from Zheshang Securities, a securities company [20] Group 4: Core Views Overseas Business - The company's overseas business is advancing overseas layout according to major customers' clear capacity requirements and includes some newly developed local orders. It can provide group - based supporting services for customers with order needs in multiple regions [22] Future Performance Drivers - The company will maintain its leading position in segments such as daily chemicals, food and health products, and consumer electronics, and accelerate the development of production bases in tobacco products, liquor packaging, and pulp molding to cultivate new growth points. It focuses on core business, expands strategic business, and explores emerging business, with three core guiding ideas and actively explores overseas paths to expand new customers, products, and market segments [22] Tobacco and Liquor Packaging - The company has entered the tobacco products and liquor industries through marketing and capacity layout in North China and Southwest China. Their profitability will be reflected after reaching a certain business scale and is currently improving [23] Green Packaging and Pulp Molding - The company continuously increases R & D investment in pulp molding products, has a variety of packaging forms, functions, and application scenarios. It is researching with upstream material suppliers to develop new materials. It has laid out pulp molding bases in Tianjin and Zhongshan [23] Market Development Plans - In daily chemicals, food and health products, maintain the leading position, deepen cooperation with existing customers, and expand new business opportunities. In consumer electronics, seize the opportunity of product upgrades driven by AI. In pulp molding, accelerate the development of Tianjin and Zhongshan bases. In other fields, explore emerging fields such as national trends, fun play, and medical aesthetics [23]

Core Points - Hunan Jinzhi Packaging Materials Co., Ltd. has been established with a registered capital of 2 million RMB [1] - The legal representative of the company is Hu Yicheng [1] Business Scope - The company is involved in the retail of publications, subject to approval by relevant authorities [1] - General business activities include sales of packaging materials and products, paper products, new film materials, ink (excluding hazardous chemicals), office equipment consumables, plastic products, computer software and hardware, calculators, import and export of goods, advertising publishing, graphic design, labor services (excluding labor dispatch), consulting and planning services, and planning design management [1]

Core Viewpoint - Hefei Zaiying Packaging Materials Co., Ltd. has been established with a registered capital of 200,000 RMB, indicating a new player in the packaging materials industry [1] Company Summary - The legal representative of Hefei Zaiying Packaging Materials Co., Ltd. is Huang Qiang [1] - The company’s registered capital is 200,000 RMB [1] - The business scope includes manufacturing and sales of paper products, paper and cardboard containers, packaging materials, textile processing, dyeing, and sales of various products including rubber, plastic, and sponge products [1] - The company is also involved in the manufacturing of automotive parts and components, excluding licensed businesses, and can operate projects that are not prohibited or restricted by laws and regulations [1]

Group 1 - Wan Shun New Materials (SZ 300057) announced on September 22 that its wholly-owned subsidiary, Shantou Wan Shun New Materials Zhaofeng Lin Technology Co., Ltd., has recently obtained an invention patent certificate from the National Intellectual Property Administration for a product titled "A Self-repairing Paint Protection Film Based on Asynchronous Curing and Its Preparation Method" [1] - For the first half of 2025, Wan Shun New Materials' revenue composition is as follows: aluminum foil packaging business accounts for 89.05%, paper packaging materials business accounts for 8.28%, other industries account for 1.27%, trading business accounts for 0.94%, and conductive film business accounts for 0.45% [1] - As of the time of reporting, Wan Shun New Materials has a market capitalization of 5.7 billion yuan [1]

Group 1 - Wanshun New Materials (SZ 300057) announced that it participated in a research meeting with Founder Securities on September 20, 2025, with representatives Huang Wei and Yang Shizhe addressing investor questions [1] - For the first half of 2025, the revenue composition of Wanshun New Materials was as follows: aluminum foil packaging business accounted for 89.05%, paper packaging materials business accounted for 8.28%, other industries accounted for 1.27%, trading business accounted for 0.94%, and conductive film business accounted for 0.45% [1] - As of the report date, Wanshun New Materials had a market capitalization of 5.7 billion yuan [1]

Core Insights - Shanghai's import and export value reached 387.43 billion yuan in August, marking seven consecutive months of growth since February this year [1] - In August, Shanghai's export value hit 183.08 billion yuan, a year-on-year increase of 17.1%, achieving a historical milestone of exceeding 180 billion yuan in a single month [1] - For the first eight months of this year, Shanghai's foreign trade value totaled 2.94 trillion yuan, reflecting a growth of 4.5%, with notable activity from private enterprises and significant increases in exports to emerging markets [1] Export Performance - Exports to emerging markets such as Africa, ASEAN, the Middle East, and India totaled 53.74 billion yuan in August, representing a year-on-year growth of 45%, with shipbuilding and marine engineering equipment, as well as construction machinery, showing remarkable growth of 1060% and 72.8% respectively [1] - The green product sector in Shanghai has seen significant demand, with exports of electric vehicles, lithium batteries, and photovoltaic products growing by 37.1%, 112.1%, and 39% respectively in August [2] - High-end manufacturing products, including high-end machine tools and equipment, have also maintained double-digit growth [2] Government Support - The Shanghai government has actively supported foreign trade growth, organizing 245 enterprises to participate in 38 overseas trade exhibitions since the second half of this year, with an intended contract value of 23.68 million USD [2] - These exhibitions focus on key industries such as high-end manufacturing, digital economy, biomedicine, and green energy, with the municipal commerce department providing support for exhibition fees [2]

Company Overview - Shenzhen Xinyuchang Technology Co., Ltd. has been established with a registered capital of 50,000 RMB [1] - The legal representative of the company is Li Honglun [1] Business Scope - The company engages in the sale of packaging materials and products, packaging services, and sales of plastic packaging containers for food [1] - It also sells paper products, rubber products, synthetic materials, and plastic products [1] - The company provides domestic trade agency services, business agency services, and information consulting services (excluding licensed information consulting services) [1] - Additional services include industrial design, technical services, technical development, technical consulting, technical exchange, technical transfer, technical promotion, trade brokerage, network equipment sales, network technology services, professional design services, graphic design, and graphic design production [1] - There are no licensed business projects listed for the company [1]

Core Viewpoint - Shenzhen Jianying Packaging Materials Co., Ltd. has been established with a registered capital of 100,000 RMB, indicating a new player in the packaging materials industry [1] Company Summary - The legal representative of the company is Li Jinyang [1] - The company’s business scope includes the sale of packaging materials and products, paper products, packaging services, thermal and sound insulation materials, and metal packaging containers and materials [1] - The company is also involved in domestic trade agency, internet sales (excluding goods that require permits), technology import and export, and goods import and export [1] - There are no licensed business projects listed for the company [1]

Core Insights - The article highlights the increasing demand for rust-proof paper in China, driven by the country's status as a major steel and non-ferrous metal producer facing corrosion challenges. The market for rust-proof paper is projected to grow from 720 million yuan in 2020 to 1.22 billion yuan by 2024, with a compound annual growth rate (CAGR) of 14.09% [1][11]. Industry Overview - Rust-proof paper, also known as VCI paper, is made from packaging kraft paper coated with volatile corrosion inhibitors (VCI), providing effective protection against rust for various metals [3][10]. - The industry has evolved from relying on imported products in the 1980s to a robust domestic market with significant technological advancements and increased production capacity [7][10]. Market Dynamics - The rust-proof paper market is characterized by a growing application in industries such as automotive, machinery, and electronics, with a notable shift towards environmentally friendly and high-end products [1][11]. - The market is expected to continue expanding due to the optimization of industrial structures and the rapid development of emerging industries in China [11]. Competitive Landscape - The global rust-proof paper market features a mix of domestic and international players, with companies like CORTEC and Daubert leading in high-end products. Chinese companies such as North American Rust Prevention and Tianjin Amore New Materials are gaining competitive strength through innovation and market expansion [11][12]. Industry Trends - Technological innovation is anticipated to enhance the performance of rust-proof paper, focusing on long-lasting and multifunctional properties to meet the demands of high-end applications [16]. - The industry is moving towards sustainability, with a shift to bio-based rust inhibitors and biodegradable materials, aiming to reduce reliance on non-renewable resources [17]. - Cost reduction strategies, including vertical supply chain integration and automation, are expected to lower production costs significantly, potentially expanding the market to consumer applications [18].

Group 1 - A new company, Huai'an Liyou Packaging Materials Co., Ltd., has been established with a registered capital of 500,000 RMB [1] - The legal representative of the company is Zhang Xuli [1] - The business scope includes sales of various products such as packaging materials, daily necessities, special labor protection products, stationery, and chemical products [1] Group 2 - The company is also involved in the sales of food detergents, rubber products, daily ceramic products, building materials, and metal materials [1] - It offers retail of computer software and hardware, fire-fighting equipment, and environmental protection specialized equipment [1] - The company engages in wholesale of kitchenware, clothing, and textiles, as well as manufacturing of paper products and molds [1]