Group 1 - The company, Juran Smart Home, announced the convening of its 11th Board of Directors meeting on October 29, 2025, to review the proposal for the Q3 2025 report [1] - For the first half of 2025, the revenue composition of Juran Smart Home was as follows: 56.34% from product sales, 40.34% from leasing and franchise management services, and 1.61% from renovation services [1]

Core Viewpoint - The establishment of Hebi Jingyao Trading Co., Ltd. indicates a diversification in the construction materials and related services market in China, with a wide range of products and services being offered [1] Company Summary - Hebi Jingyao Trading Co., Ltd. was recently established with a registered capital of 500,000 RMB [1] - The legal representative of the company is Jia Yongqiang [1] - The company operates in various sectors including sales of construction materials, machinery, and agricultural equipment [1] Industry Summary - The company’s business scope includes sales of building materials, lime, gypsum, bricks, ceramics, and various metal products [1] - It also engages in the sale of concrete structural components, waterproof materials, and agricultural machinery [1] - Additional services include information technology consulting, advertising production, and sales of graphene materials and automotive parts [1]

Core Points - A new company, Sanmenxia Jiasheng Trading Co., Ltd., has been established with a registered capital of 1.18 million RMB [1] - The legal representative of the company is Zhang Yinceng [1] - The business scope includes general projects such as daily necessities sales, office supplies sales, clothing retail and wholesale, labor protection products sales, and sports equipment retail [1] - The company is also involved in the construction of sports venue facilities and the retail of computer software and hardware [1] - The company requires approval for specific licensed projects, including alcohol sales, which can only be conducted after obtaining the necessary permits [1]

Core Insights - Baoding Litai Trading Co., Ltd. has been established with a registered capital of 200,000 RMB, indicating a new player in the market [1] Company Overview - The legal representative of the company is Wang Leihe [1] - The company's business scope includes general projects such as internet sales of food (only pre-packaged food), sales of health food (pre-packaged), and various leasing services [1] - The company is also involved in technology services, development, consulting, and research in IoT technology and software development [1] Business Activities - The company is permitted to engage in the sale of food (subject to approval) and has a wide range of sales activities including daily necessities, special labor protection products, and agricultural products [1] - The company operates under a business license and is allowed to conduct activities independently, except for those requiring specific approvals [1]

Core Insights - Gu'an Extreme Trading Co., Ltd. has been established with a registered capital of 300,000 RMB [1] - The legal representative of the company is Qian Xiaolong [1] Business Scope - The company engages in the sale of recreational products and indoor gaming equipment [1] - It also retails sports goods and equipment, toys, animation products, and outdoor supplies [1] - Additional sales include plastic products, daily necessities, wooden toys, bags, home goods, daily ceramics, and miscellaneous items [1] - The company is involved in the retail of hardware products, metal products, electronic products, and daily consumer goods [1] - It offers rental services for sports equipment and leisure entertainment equipment [1] - The company conducts internet sales, excluding items that require special licenses [1]

Core Viewpoint - A new company, Xining Jufei Trading Co., Ltd., has been established with a registered capital of 1 million RMB, focusing on various sales activities in the construction and materials sector [1] Company Summary - The legal representative of the company is Sun Xiaofei [1] - The registered capital of the company is 1 million RMB [1] Business Scope - The company engages in the sale of general items including: - Metal materials - Construction materials - Hardware products - Wood products - Cement products - Construction decoration materials - Sealing components - Office supplies - Stationery - Daily necessities - Rubber products - Plastic products - Daily glass products - Metal products - Fire-fighting equipment - Power electronic components - Electronic components and electromechanical assembly equipment - Wires and cables - Machinery and equipment (excluding projects that require approval) [1]

Core Viewpoint - Guangxi Bingbin Trading Co., Ltd. has been established with a registered capital of 10,000 RMB, indicating a new player in the trading and retail sector in Guangxi [1] Company Overview - The legal representative of the company is Chen Hanjin, suggesting a centralized management structure [1] - The company’s business scope includes a wide range of activities such as daily necessities sales, supply chain management services, furniture sales, and more, indicating a diversified business model [1] Business Activities - The company engages in the sale of various products including daily necessities, furniture, leather goods, hair accessories, and automotive decoration products [1] - It also offers services related to technology, including technical services, development, consulting, and promotion, which may enhance its operational capabilities [1] - The inclusion of second-hand goods sales and a variety of retail categories such as toys, eyewear, and jewelry suggests a comprehensive approach to meet consumer needs [1]

Core Insights - Guangzhou Shunxian Trading Co., Ltd. has been established with a registered capital of 100,000 RMB, indicating a new player in the market [1] Business Scope - The company offers a wide range of services including safety consulting, health consulting (excluding medical services), and information consulting (excluding licensed information consulting) [1] - The company engages in the sale of various products such as hair accessories, tea sets, office supplies, toys, audio equipment, lighting fixtures, cameras and equipment, electronic special equipment, leather products, and internet sales (excluding licensed goods) [1] - Additional retail activities include sales of sanitary ware, household audio-visual equipment, toys, outdoor products, bags, glasses (excluding contact lenses), maternal and infant products, gifts and flowers, personal hygiene products, disposable medical supplies, non-medical masks, household appliances, textiles and raw materials, electronic products, doors and windows, electronic components, furniture, hardware products, computer software and hardware, musical instruments, arts and crafts, jewelry, sports equipment, stationery, bicycles and accessories, kitchen and daily necessities, cosmetics, footwear, clothing, plastic products, and building materials [1]

Core Insights - A new company, Huo County Sen Sheng Trading Co., Ltd., has been established with a registered capital of 380,000 RMB [1] - The legal representative of the company is Zhang Sen [1] Business Scope - The company is authorized to engage in the sale of alcoholic beverages and food products, subject to necessary approvals from relevant authorities [1] - General business activities include the sale of health food (pre-packaged), online food sales (only pre-packaged food), agricultural products sales, daily necessities sales, and personal hygiene products sales [1] - The company also offers personal internet live streaming services, excluding licensed business activities [1]

Core Viewpoint - Fuyang Youkoufu Trading Co., Ltd. has been established with a registered capital of 1 million RMB, indicating a new player in the health food and e-commerce sectors [1] Company Summary - The legal representative of Fuyang Youkoufu Trading Co., Ltd. is Liu Xiaokang [1] - The company’s registered capital is 1 million RMB [1] - The business scope includes the sale of pre-packaged health food, daily necessities, and food internet sales, specifically limited to pre-packaged food [1] Industry Summary - The company is involved in general projects such as health food sales and exhibition services, which are part of the growing health and wellness market [1] - The company also has licensed operations for alcohol sales and food sales, which require approval from relevant authorities [1]