Core Viewpoint - The company plans to implement a mid-year cash dividend distribution for 2025, emphasizing its commitment to enhancing shareholder returns and high-quality development [2][4]. Profit Distribution Plan - The company reported a net profit attributable to shareholders of 56,941,677.42 yuan for the first half of 2025 [2]. - The proposed cash dividend is 0.10 yuan per 10 shares (including tax), with a total distribution amounting to 10,780,480.64 yuan (including tax) [2][3]. - The distribution will be based on the number of shares registered on the dividend record date, excluding shares held in the company's repurchase account [3]. Decision-Making Process - The board of directors approved the mid-year dividend plan during a meeting on August 29, 2025, based on the authorization from the annual general meeting held in 2024 [3][4]. - The decision does not require further approval from the shareholders' meeting as it falls within the authorized scope [3]. Compliance and Considerations - The dividend distribution plan complies with relevant laws, regulations, and the company's articles of association, ensuring no harm to minority shareholders [4]. - The plan considers the company's development stage and future funding needs, supporting sustainable and stable growth [4].

Core Viewpoint - The document outlines the information disclosure management measures for Ruimaotong Supply Chain Management Co., Ltd, emphasizing the importance of timely, accurate, and complete information disclosure to protect the rights of shareholders and the public [1][2]. Group 1: General Principles - The information disclosure obligations include the company, all directors, senior management, shareholders, actual controllers, and other relevant parties [2][3]. - Information must be disclosed in a timely manner, ensuring it is true, accurate, complete, and easily understandable, without any misleading statements or omissions [3][4]. - Information disclosure should be simultaneous for all investors, and any insider information must not be leaked before its legal disclosure [3][4]. Group 2: Disclosure Content - Regular reports required include annual, semi-annual, and quarterly reports, which must disclose any information that significantly impacts investor decision-making [10][11]. - If the company anticipates a loss or significant change in performance, it must issue a performance forecast promptly [12][15]. - Major events that could significantly affect the trading price of the company's securities must be disclosed immediately, including large compensation liabilities, asset impairment, and significant changes in business operations [15][16]. Group 3: Specific Transactions - Transactions involving asset purchases or sales, external investments, and financial assistance must be disclosed if they meet certain thresholds, such as involving over 10% of the company's total assets [21][22]. - Related party transactions exceeding specified amounts must also be disclosed to ensure transparency [28][29]. Group 4: Management of Disclosure - The board of directors is responsible for overseeing the information disclosure process, with the chairman being the primary responsible person [70][71]. - Senior management must ensure timely preparation and submission of disclosure documents, and any significant events must be reported immediately [73][74].

Core Points - The document outlines the regulations for the temporary suspension and exemption of information disclosure by Ruimaotong Supply Chain Management Co., Ltd, aimed at enhancing information disclosure supervision and protecting investors' rights [1][5] - The company and other obligated parties must ensure that information is disclosed truthfully, accurately, completely, timely, and fairly, and must not misuse the suspension or exemption to evade disclosure obligations or mislead investors [1][2] Summary by Sections Section 1: Purpose and Scope - The purpose of the system is to regulate the temporary suspension and exemption of information disclosure by the company and other obligated parties, in accordance with relevant laws and regulations [1] - The system applies to both regular and temporary reports where disclosure may be suspended or exempted [1] Section 2: Disclosure Obligations - The company and other obligated parties must disclose information truthfully and must not engage in insider trading or market manipulation [1][2] - They must carefully determine the matters for temporary suspension or exemption and follow internal review procedures [1][2] Section 3: National and Commercial Secrets - Information that involves national secrets can be exempted from disclosure if there is sufficient evidence proving that disclosure would violate national confidentiality regulations [2] - Commercial secrets can also be temporarily suspended or exempted from disclosure under specific conditions, such as potential unfair competition or significant harm to the company or others [2][3] Section 4: Reporting and Documentation - If the reasons for temporary suspension or exemption are eliminated, the company must disclose the information promptly [3][4] - The company must maintain a record of all temporary suspensions or exemptions, including the type of report, the nature of the information, and the internal review process [4][5] Section 5: Compliance and Implementation - The system must comply with relevant laws and regulations, and the board of directors is responsible for its interpretation and revision [5] - The system will take effect upon approval by the board of directors [5]

Core Points - The document outlines the operational guidelines for the General Manager of Ruimaotong Supply Chain Management Co., Ltd, emphasizing the governance structure and responsibilities [1][2][4] Group 1: Governance Structure - The General Manager's office meeting serves as the decision-making body for the company's operational management [1] - The meeting can be convened at any time by the General Manager, with prior collection of opinions from relevant departments [1][2] - The conclusions reached in the meetings are binding for all participants, although differing opinions are encouraged [1][2] Group 2: Responsibilities of the General Manager - The General Manager is responsible for the overall operations of the company and reports to the Board of Directors [2] - Key responsibilities include implementing board resolutions, organizing annual business plans, and proposing management structures and regulations [1][2] - The General Manager has the authority to hire or dismiss management personnel, except for those positions requiring board approval [1][2] Group 3: Reporting and Oversight - The General Manager must regularly report to the Board on various operational aspects, including annual plan implementation and major contract statuses [2][3] - The General Manager is subject to oversight by the Board and the Audit Committee, and must report as required [2][4] - Compensation and performance evaluations for the General Manager and senior management are determined by the Compensation and Assessment Committee [2][4]

General Provisions - The company establishes a management system for the shares held and traded by its directors and senior management to strengthen oversight and clarify procedures [1][2] - The system is based on relevant laws and regulations, including the Company Law and Securities Law of the People's Republic of China [2] Information Reporting Regulations - The company secretary is responsible for managing the identity and shareholding data of directors and senior management, ensuring timely online reporting of personal information [4] - Directors and senior management must report their shareholding changes within two trading days of the occurrence [8] Trading Regulations - Directors and senior management must notify the company secretary of their trading plans before buying or selling shares, and the board should assess any potential risks [7] - Any changes in shareholding must be reported and announced through the stock exchange within two trading days [8] Prohibited Trading Conditions - Directors and senior management are prohibited from transferring shares under specific conditions, such as within one year of the company's stock listing or within six months after leaving their positions [11] - Trading is also restricted during certain periods, such as 15 days before the announcement of annual or semi-annual reports [12] Restricted Trading Conditions - Directors and senior management can only transfer up to 25% of their total shareholding in a year through various trading methods [14] - New shares acquired through various means are subject to specific transfer limits in the same year [16] Other Provisions - The rights associated with shares held during the lock-up period remain unaffected [17] - Directors and senior management engaging in margin trading must comply with relevant regulations and report to the stock exchange [19] Legal Responsibilities - Violations of this system by directors and senior management may result in penalties from regulatory authorities [20] Supplementary Provisions - The system is subject to amendments by the company's board and takes effect upon approval [22][23]

General Overview - The document outlines the work guidelines for the Secretary of the Board of Directors of Ruimaotong Supply Chain Management Co., Ltd, aiming to enhance corporate governance and the role of the board secretary [1] Section 1: General Principles - The board secretary is a senior management position responsible for the company and the board, ensuring compliance with various laws and regulations [1] - The board secretary acts as the designated liaison between the company and the Shanghai Stock Exchange [1] Section 2: Qualifications and Appointment Procedures - The board secretary must possess necessary professional knowledge in finance, management, and law, along with good professional ethics [2] - Individuals with certain disqualifying conditions, such as recent administrative penalties from the China Securities Regulatory Commission, cannot serve as board secretary [2] - The company must appoint a new board secretary within three months of the previous secretary's departure [2][3] - During a vacancy, the board must appoint a temporary secretary and report this to the Shanghai Stock Exchange [2] Section 3: Responsibilities of the Board Secretary - The board secretary is responsible for managing information disclosure, coordinating communication with investors and regulatory bodies, and organizing board and shareholder meetings [3][4] - The secretary must ensure confidentiality of undisclosed significant information and report any leaks immediately [4] - The board secretary is tasked with training board members and senior management on compliance with relevant laws and regulations [4][5] Section 4: Support and Cooperation - The company must provide necessary support for the board secretary to perform their duties effectively, including access to financial and operational information [5] - In cases of obstruction, the board secretary has the right to report directly to the Shanghai Stock Exchange [5] Section 5: Miscellaneous - The guidelines become effective upon approval by the company's board and are subject to interpretation by the board [5]

Overview - The company has recognized impairment losses totaling RMB 36,219,612.34 for the first half of 2025, reflecting its asset status and operational results [1][5] Impairment Loss Details - The impairment losses include: - Accounts receivable impairment loss of RMB 3,126,511.52 - Inventory write-down loss of RMB 37,140,124.94 - Research and development expense impairment loss of RMB 2,207,295.00 - Other receivables bad debt loss of RMB 4,976.31 - Notes receivable impairment loss of RMB 6,272.39 [1][5] Impairment Measurement Methodology - The company measures impairment losses based on expected credit losses over the entire duration of the receivables, categorizing them into different groups based on credit risk characteristics [2][4] - For notes receivable, the classification is based on the credit risk of the accepting bank and the aging of the receivables [2][4] - Other receivables are assessed based on whether the credit risk has significantly increased since initial recognition [4] Impact on Financial Position - The impairment provisions are in compliance with the relevant accounting standards and policies, ensuring an objective and fair reflection of the company's financial condition and operational results [5][6] - The company asserts that the impairment provisions will not adversely affect its normal operations or the interests of shareholders [5]

Core Viewpoint - JD Industrial is expanding its international presence by signing strategic cooperation agreements with local partners in Brazil to enhance industrial supply chain digital services and support Chinese enterprises going abroad [1][3][5]. Group 1: Strategic Partnerships - JD Industrial signed a strategic cooperation agreement with BR Supply to provide office supplies and other materials for Chinese enterprises operating in Brazil while also offering cross-border industrial product services to local companies [1]. - A partnership with Anjun Logistics was established to leverage its warehousing and distribution capabilities in Brazil, enhancing fulfillment services for local customers [3]. Group 2: Market Context - Brazil, as the largest economy and most populous country in Latin America, has a strong consumer spending tendency, with an estimated per capita GDP of approximately $11,178 in 2024 and average consumer spending of about $6,800 [5]. - The investment activities of Chinese enterprises in Brazil have been growing, particularly in sectors such as home appliance manufacturing, photovoltaics, engineering machinery, and new energy vehicles, reflecting the deepening of China-Brazil economic relations [5]. Group 3: Supply Chain Challenges - Chinese manufacturing enterprises face urgent supply chain service demands as they expand overseas, particularly in emerging markets where local supply chain infrastructure is often weak, leading to issues such as high prices and delivery delays [6]. - JD Industrial, as the largest industrial supply chain technology and service solution provider in China, offers comprehensive solutions to address these challenges, covering a wide range of industrial products and services [6]. Group 4: Operational Excellence - JD Industrial has developed a unified procurement platform that supports multi-country transactions, addressing language, currency, tax, and legal compatibility issues, thus providing a transparent and efficient procurement experience [7]. - The company integrates various supply chain resources to optimize delivery methods, ensuring timely and accurate fulfillment for overseas customers [7]. - JD Industrial aims to continue leveraging its strengths in digital supply chain technology and services to support Chinese enterprises in their global expansion efforts [7].

Financial Performance - The company reported a total revenue of 35.961 billion yuan for the first half of 2025, a year-on-year decrease of 11.5% [1] - The net profit attributable to shareholders was 32.6203 million yuan, down 20.84% year-on-year [1] - In Q2 2025, total revenue was 18.323 billion yuan, a decline of 9.87% year-on-year, with net profit of 10.5229 million yuan, down 48.84% [1] - The gross margin increased by 2.77% to 4.09%, while the net margin rose by 13.61% to 0.06% [1] - Total expenses (selling, administrative, and financial) amounted to 1.499 billion yuan, accounting for 4.17% of revenue, an increase of 7.75% year-on-year [1] Business Model and Strategy - The company focuses on a "supply chain + industrial chain + incubator" integrated model, aiming to enhance its supply chain capabilities and expand into various sectors including electronics and renewable energy [3][4] - The company has established a service network covering over 320 cities in mainland China and several international markets, providing services to more than 100 Fortune 500 companies [3] - Future strategies include enhancing supply chain operations while incubating domestic enterprises in sectors like information technology and storage [4] Debt and Cash Flow Management - The company has a healthy cash position, with cash assets amounting to 10.337 billion yuan, a year-on-year increase of 12.06% [1] - The interest-bearing debt decreased by 7.29% to 21.877 billion yuan, with a debt-to-asset ratio of 40.86% [2] - The operating cash flow per share increased significantly by 672.36% to 0.22 yuan [1] International Expansion - The company is focusing on international expansion, particularly in Southeast Asia and the United States, while also considering markets in the Middle East [4][5] - The strategy includes leveraging existing customer relationships to facilitate overseas market entry for domestic brands [5] Innovation and Technology - The company is investing in digital transformation and smart supply chain solutions, utilizing technologies such as AI, big data, and IoT to enhance operational efficiency [7] - A subsidiary, Beijing Zhuoyou Cloud Intelligence, focuses on computing power and has established partnerships with major tech firms to deliver comprehensive solutions [7][8] Collaboration and Ecosystem Development - The company is forming alliances with local service providers and financial institutions to enhance overseas service capabilities and address localization challenges [6] - The goal is to create a collaborative ecosystem that supports domestic enterprises in their international ventures [6]

Group 1 - Hengyi Petrochemical (SZ 000703, closing price: 6.42 yuan) announced on August 29 that its 27th meeting of the 12th board of directors was held on August 28, 2025, to review the proposal regarding not adjusting the conversion price of "Hengyi Convertible Bonds" [1] - For the first half of 2025, Hengyi Petrochemical's revenue composition was as follows: the chemical fiber industry accounted for 51.55%, the petrochemical industry accounted for 41.28%, and supply chain services accounted for 7.17% [1]