天眼查App显示，近日，汕头市美力奇科技有限公司成立，法定代表人为莫瑞华，注册资本10万人民 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；玩具制 造；玩具、动漫及游艺用品销售；塑料制品制造；塑料制品销售；文具制造；文具用品批发；教学用模 型及教具制造；教学用模型及教具销售；体育用品及器材制造；体育用品及器材批发；模具制造；模具 销售；五金产品制造；五金产品批发；医用包装材料制造；包装材料及制品销售；家居用品制造；家居 用品销售；日用百货销售；服装服饰批发；专业设计服务；平面设计；互联网销售（除销售需要许可的 商品）；技术进出口；货物进出口。（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，厦门陆海空联创模型有限公司成立，法定代表人为罗小军，注册资本10万人民 币，经营范围为一般项目：教学用模型及教具制造；玩具制造；技术服务、技术开发、技术咨询、技术 交流、技术转让、技术推广；工程和技术研究和试验发展；专业设计服务；塑料制品制造；橡胶制品制 造；模具制造；软件开发；国内贸易代理；互联网销售（除销售需要许可的商品）；玩具销售；教学用 模型及教具销售；塑料制品销售；橡胶制品销售；工艺美术品及礼仪用品销售（象牙及其制品除外）； 日用品销售；五金产品零售；摩托车及零配件零售；模具销售；非居住房地产租赁；租赁服务（不含许 可类租赁服务）；人力资源服务（不含职业中介活动、劳务派遣服务）；办公服务；商务代理代办服 务；会议及展览服务；咨询策划服务；信息咨询服务（不含许可类信息咨询服务）。（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 - The company experienced good revenue growth in FY18, but profits fell short of expectations due to a decline in gross margin and contributions from the manufacturing business [2][3]. Group 1: Company Background - Jianyi Group was listed on the Hong Kong Stock Exchange in 1997, initially focusing on radio-controlled and electronic toys manufacturing [1]. - The company has two main business lines: manufacturing and non-manufacturing, with manufacturing focusing on electrical and electronic products and motors, while non-manufacturing includes real estate development [1]. - Jianyi operates three main production bases in China, located in Guangdong and Guizhou [1]. Group 2: Financial Performance - In FY18, the company's revenue increased by 22.7% to HKD 3.034 billion, up from HKD 2.472 billion in FY17 [2]. - The net profit for FY18 was HKD 149.8 million, a decline of 23.7% from HKD 196.4 million in FY17, primarily due to a 4.8 percentage point drop in gross margin [2]. - The electrical and electronic products business generated revenue of HKD 2.1375 billion, a 23.2% increase from HKD 1.7342 billion in FY17, while the automotive business revenue rose by 21.5% to HKD 896.7 million [2]. Group 3: Market Outlook - Despite the weak FY18 performance, the company is viewed positively due to favorable factors such as the depreciation of the RMB, good order conditions, and ongoing development of new businesses [3]. - The stock price adjustment following the earnings announcement is seen as a buying opportunity, especially given the company's valuation relative to peers like Delta Electronics and Mabuchi Motor [3]. Group 4: Catalysts - Potential catalysts for growth include acquiring new projects, expanding production capacity for standard motors, and recognizing revenue from real estate sales [4].

天眼查App显示，近日，合肥积木芯核智能科技有限公司成立，法定代表人为何敏智，注册资本100万 人民币，经营范围为一般经营项目：技术服务、技术开发、技术咨询、技术交流、技术转让、技术推 广；人工智能应用软件开发；玩具制造；玩具销售；塑料制品制造；塑料制品销售；玩具、动漫及游艺 用品销售；互联网销售（除销售需要许可的商品）；国内贸易代理；货物进出口；技术进出口；电子元 器件批发；电子元器件零售（除许可业务外，可自主依法经营法律法规非禁止或限制的项目）。 ...

天眼查App显示，近日，四川惹你喜玩具有限公司成立，法定代表人为毕佳，注册资本10万人民币，经 营范围为一般项目：玩具销售；玩具制造；木制玩具销售；玩具、动漫及游艺用品销售；日用杂品销 售；日用杂品制造；劳务服务（不含劳务派遣）；面料纺织加工；服装制造；面料印染加工；纺纱加 工。（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）（涉及国家规定实施准入特别管 理措施的除外）。 ...

天眼查App显示，近日，阿玛莉莉丝玩具（广东）有限公司成立，法定代表人为张炎垚，注册资本500 万人民币，经营范围为一般项目：玩具销售；专业设计服务；平面设计；广告设计、代理；图文设计制 作；文艺创作；文具用品批发；咨询策划服务；会议及展览服务；软件开发；数字文化创意软件开发； 工艺美术品及收藏品零售（象牙及其制品除外）；办公用品销售；玩具、动漫及游艺用品销售；橡胶制 品销售；羽毛(绒)及制品销售；针纺织品销售；服装服饰批发；鞋帽批发；母婴用品销售；电子产品销 售；互联网销售（除销售需要许可的商品）；动漫游戏开发；以自有资金从事投资活动；工艺美术品及 礼仪用品销售（象牙及其制品除外）；文具用品零售；游艺用品及室内游艺器材销售；食品销售（仅销 售预包装食品）。（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，长沙福礼玩具有限公司成立，法定代表人为舒傅蓉，注册资本10万人民币，经 营范围为一般项目：珠宝首饰批发;服装服饰批发;工艺美术品及礼仪用品销售（象牙及其制品除外）;珠 宝首饰制造;文具用品批发;日用品批发;金银制品销售;纸制品制造;包装服务;玩具、动漫及游艺用品销售; 专业设计服务;箱包销售;互联网销售（除销售需要许可的商品）;办公设备销售;厨具卫具及日用杂品批 发;日用百货销售;家具销售;电子产品销售;文化用品设备出租;金属工具销售;针纺织品及原料销售;化妆品 批发;工艺美术品及收藏品批发（象牙及其制品除外）;工艺美术品及收藏品零售（象牙及其制品除外）; 玻璃制造;玩具制造;玩具销售;日用杂品制造;宠物食品及用品批发;木制玩具制造;木制玩具销售;日用杂品 销售（除依法须经批准的项目外，自主开展法律法规未禁止、未限制的经营活动）。 ...

群兴玩具跨界算力失败，股价承压。此前公司曾多次跨界，且多数涉及热点题材。通过跨界并购重组实 现转型无可厚非，但如果跨界涉及热点则需警惕，毕竟热点行业一般都有较高的技术壁垒，而且公司收 购时都会产生较高的估值溢价，对上市公司可能不是划算的买卖。 部分上市公司热衷于跨界追热点，大概率是为了市值管理。热点行业往往自带光环，具有较高的市场关 注度和吸引力。一旦上市公司宣布跨界进入热点领域，股价往往会迅速做出积极反应，短期内带来显著 的市值提升。这种点石成金的效果，让不少上市公司趋之若鹜，试图通过蹭热点来提升自身的市场形象 和估值。 但从实际情况来看，跨界追热点往往难以收获预期的成果。热点行业通常具有较高的技术壁垒，上市公 司与收购到的目标公司顺利融合并非易事。同时，收购热门行业的公司，大概率还会产生较高的商誉， 收购资产一旦业绩表现不及预期，商誉就存在爆雷的风险，为上市公司长期利益埋下重大隐患。 事实上，许多跨界追热点的上市公司，在进入新领域后，才发现自身在技术、人才、管理等方面存在巨 大短板，导致项目推进缓慢，甚至最终以失败告终，很多业绩爆雷的原因就在于此。 对于市场而言，上市公司跨界追热点也会带来一定的负面影响。 ...

Core Viewpoint - The company, Qunxing Toys, has announced the termination of its fifth major asset restructuring attempt since its listing, primarily due to failure to reach consensus on key terms of the transaction [1][7]. Group 1: Company Background and History - Qunxing Toys was established in 1996 and initially focused on toy research and production, but has since attempted multiple cross-industry transformations, all of which have failed [1][8]. - The company’s revenue peaked at 493 million yuan in 2011 but plummeted to 54 million yuan by 2017, and further declined to 19 million yuan in 2018 [2][8]. - Wang Sanshou became the actual controller of Qunxing Toys in November 2018, but his tenure was marred by personal financial issues that worsened the company's situation [2][3]. Group 2: Restructuring Attempts - Qunxing Toys has made five unsuccessful attempts at cross-industry restructuring since its listing, targeting various sectors including mobile gaming, nuclear equipment, energy technology, and electronics [7][8]. - The latest attempt involved acquiring at least 51% of Hangzhou Tiankuan Technology Co., which was terminated due to disagreements on transaction pricing and terms [1][9]. Group 3: Financial Issues and Management Changes - Wang Sanshou's management led to significant financial mismanagement, with 327 million yuan misappropriated, representing 44% of the company's net assets as of 2019 [2][3]. - Zhang Jincheng took over as chairman and general manager in late 2020, successfully stabilizing the company and shifting its focus to alcohol sales, which contributed 337 million yuan to revenue in 2024 [3][5]. Group 4: Future Prospects and Strategic Moves - Following the restructuring failure, Qunxing Toys is exploring acquisitions in high-tech fields like artificial intelligence, despite skepticism about the viability of its current computing power business [1][10]. - The company has begun emphasizing its computing power leasing business, which has attracted new investors, although it currently operates at a loss [10][11].

天眼查App显示，近日，定兴县朵菲熊玩具制造有限公司成立，法定代表人为张引齐，注册资本10万人 民币，经营范围为一般项目：玩具制造;玩具销售;箱包销售;互联网销售（除销售需要许可的商品）;家 居用品销售;五金产品批发;服装辅料销售;日用百货销售;鞋帽零售;皮革制品销售（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）。 ...