Core Viewpoint - The company, Jihong Co., Ltd. (002803), anticipates significant growth in net profit for the first three quarters of 2025, driven by the rapid development of its cross-border social e-commerce business and increasing demand in the packaging sector [1][2] Group 1: Financial Performance - The expected net profit attributable to shareholders ranges from 208.74 million to 222.21 million yuan, representing a year-on-year increase of 55.00% to 65.00% [1] - The net profit after deducting non-recurring gains and losses is projected to be between 200.24 million and 213.71 million yuan, showing a growth of 65.72% to 76.86% [1] - For the third quarter, the net profit is estimated to be between 120.11 million and 133.58 million yuan, reflecting a year-on-year increase of 83.03% to 103.55% [1] Group 2: Business Development - The strong growth in performance is attributed to the rapid expansion of the cross-border social e-commerce business and continuous improvement in packaging customer demand and market development [1] - The company emphasizes technology-driven innovation, effectively utilizing artificial intelligence in data analysis, user profiling, intelligent product selection, and supply chain optimization, which significantly contributes to the growth of its cross-border e-commerce business [1] - The packaging business also shows steady growth, benefiting from long-term strategic partnerships with leading companies in the fast-moving consumer goods sector, enhancing operational efficiency and profitability [1] Group 3: Future Outlook - The company plans to continue its focus on technology-driven innovation and deepen the application of AI in the e-commerce sector to sustain high growth in cross-border e-commerce [2] - There are intentions to optimize the capacity layout of the packaging business and actively explore overseas markets to further enhance profitability [2] - The company is committed to shareholder returns, planning to implement a semi-annual dividend distribution of nearly 80 million yuan, aiming to create long-term stable value for shareholders through steady operations and active profit distribution [2]

Core Viewpoint - Jihong Co., Ltd. (002803.SZ) expects a significant increase in net profit attributable to shareholders for the first three quarters of 2025, projecting a range of 208.74 million to 222.21 million yuan, representing a growth of 55.00% to 65.00% compared to the same period last year [1] Group 1: Business Performance - The cross-border social e-commerce business has deepened brand building and regional expansion, leading to substantial growth in revenue and profit [1] - The packaging business has enhanced operational efficiency through strategic cooperation with leading fast-moving consumer goods companies, resulting in a notable improvement in profitability [1]

Core Viewpoint - The company, Jihong Co., Ltd. (02603.HK), reported significant growth in its interim results for the six months ending June 30, 2025, driven by the recovery of the consumer market and the efforts of its management and employees [1] Financial Performance - The company achieved a revenue of 3.23 billion RMB, representing a year-on-year increase of 31.79% [1] - The net profit attributable to shareholders reached 118 million RMB, marking a year-on-year growth of 63.27% [1] - Earnings per share for ordinary equity holders amounted to 0.30 RMB [1] Strategic Developments - On May 27, 2025, the company completed its initial public offering of H-shares and was listed on the main board of the Hong Kong Stock Exchange, becoming the first A+H listed company in the cross-border social e-commerce and paper fast-moving consumer goods packaging sectors in China [1] - The H-share listing is a key milestone in the company's globalization strategy, leveraging Hong Kong's position as an international financial hub to enhance its global presence in social e-commerce and packaging businesses [1] - The company aims to expand its sales regions and deepen its penetration into overseas markets to maintain its industry-leading position [1]

Core Viewpoint - The report highlights significant growth in key financial metrics for Jihong Co., following its successful listing on the Hong Kong Stock Exchange, marking it as the first domestic cross-border social e-commerce and fast-moving consumer goods packaging A+H share company [1] Financial Performance - The company achieved a revenue of 3.234 billion yuan, representing a year-on-year increase of 31.79% [1] - The net profit attributable to shareholders reached 118 million yuan, up 63.27% year-on-year [1] - The net profit excluding non-recurring items was 113 million yuan, reflecting a 79.43% increase [1] - Operating cash flow net amount was 183 million yuan, a substantial increase of 377.8% year-on-year [1] Cross-Border E-Commerce Business - The cross-border social e-commerce segment generated revenue of 2.116 billion yuan, a growth of 52.91% year-on-year [2] - The net profit attributable to shareholders from this segment was 55.4 million yuan, marking a 97.67% increase [2] - The company utilizes an AI-driven "goods find people" model for targeted advertising on major social platforms, promoting Chinese industrial products globally [2] - The proprietary "Giikin 3.0" system integrates with various AI models to automate the entire process from product selection to customer service [2] - The business has expanded to over 40 countries and regions, maintaining a leading ROI in advertising [2] Packaging Business - The packaging segment reported revenue of 1.115 billion yuan, with a year-on-year growth of 10.04% [3] - The net profit attributable to shareholders in this segment was 75.7 million yuan, an increase of 34.43% [3] - The company maintains the top market share in domestic paper-based fast-moving consumer goods packaging [3] - The growth in food-grade eco-friendly packaging orders is driven by partnerships with major brands like Luckin Coffee, KFC, and McDonald's [3] - The company operates over 10 large packaging production bases nationwide, all certified under various quality and environmental management systems [3] Future Strategy - Jihong Co. plans to increase investment in AI research and its own brand development to enhance its cross-border e-commerce business [3] - The packaging division aims to focus on sustainability through green, intelligent, and low-carbon initiatives, while expanding its overseas market presence [3] - The company intends to leverage the advantages of Hong Kong's international financial center to deepen global market penetration and enhance brand value [3]

Group 1 - The chairman of Jihong Co., Wang Yapeng, plans to reduce his shareholding by up to 3.04 million shares, representing no more than 0.79% of the company's total A-share capital of 384,769,288 shares, due to personal funding needs [2] - As of the close on August 5, Jihong Co.'s stock price was 16.72 yuan, with a daily increase of 0.12%, and the company's total market capitalization was approximately 7.569 billion yuan [2] - Wang Yapeng has nearly 20 years of experience in the internet marketing industry and has been with Jihong Co. since August 2017, focusing on cross-border e-commerce [2] Group 2 - Jihong Co. expects significant growth in both revenue and profit for the first half of the year, driven by increased packaging demand due to market recovery and strategic partnerships with leading companies in the fast-moving consumer goods sector [3] - The company's cross-border social e-commerce business benefits from technology-driven innovation and improved supply chain management, contributing to substantial revenue and profit growth [3] - Overall performance improvement is attributed to enhanced operational efficiency and resource utilization through group management [3]

Group 1 - The core viewpoint of the articles highlights the performance fluctuations of Jihong Co., with a significant profit increase in 2025 followed by a substantial decline in 2024 due to various economic factors [1][2] - In the first half of 2025, Jihong Co. expects a net profit attributable to shareholders to grow by 55% to 65%, reaching between 112 million to 119 million yuan, with a further increase in net profit growth to 68% to 79% after excluding non-recurring gains [1] - The growth in 2025 is attributed to the recovery of the consumer market, which has led to increased packaging demand from downstream clients, and the company's strategic partnerships with leading firms in the fast-moving consumer goods sector [1] Group 2 - In 2024, Jihong Co. experienced a decline in net profit by over 47% due to a challenging economic environment, inflation, and fluctuating exchange rates, which resulted in decreased consumer confidence and sales growth in the packaging sector [2] - The company is actively expanding its client base and diversifying its business to enhance revenue, shifting from traditional packaging to higher-margin products such as tobacco and personal care packaging [2] - Jihong Co. is also focusing on international expansion through cross-border e-commerce, utilizing AI algorithms for market analysis and advertising on platforms like Meta and TikTok to sell Chinese products abroad [3] Group 3 - The company has established a strategic partnership with BMJ Industries to accelerate its overseas expansion, planning to invest in packaging production bases and trade platforms in the Middle East [3] - The collaboration aims to produce and sell various packaging products, including tobacco packaging and environmentally friendly materials, targeting markets in the Middle East and Africa [3]

Core Viewpoint - Xiamen Jihong Technology Co., Ltd. (referred to as "Jihong Co., Ltd." 002803.SZ) has officially listed on the Hong Kong Stock Exchange, marking a significant milestone as the first A+H listed company in Xiamen and the fifth A-share company to list on the Hong Kong Stock Exchange this year [1][4]. Company Overview - Jihong Co., Ltd. was established on December 24, 2003, and was listed on the Shenzhen Stock Exchange on July 12, 2016. The company specializes in providing integrated services including marketing strategy, product design, process design, technical planning, transportation, and logistics [5]. - The company operates 10 large packaging production bases across China and has established close partnerships with clients such as Yili and Luckin Coffee. In 2022, it was ranked 5th among the "Top 100 Printing and Packaging Enterprises in China" by Printing Manager magazine [5]. IPO Details - The IPO involved a global offering of H-shares with a base issuance of 67.91 million shares, raising approximately HKD 519 million (around RMB 478 million). The funds will be used for overseas market expansion, technology development, and brand portfolio enhancement [4]. - Upon opening, Jihong Co., Ltd.'s shares surged to HKD 11 per share, a 43.23% increase from the issue price of HKD 7.68, and reached a peak increase of 52.34% at HKD 11.70 [1]. Business Performance - For the years 2022 to 2024, Jihong Co., Ltd. projected revenues of RMB 5.376 billion, RMB 6.695 billion, and RMB 5.529 billion, respectively. The cross-border e-commerce business is expected to contribute RMB 3.107 billion, RMB 4.257 billion, and RMB 3.366 billion, accounting for 57.8%, 63.6%, and 60.9% of total revenue [10]. - The company ranks second among B2C export e-commerce companies in China with a market share of 1.3% and holds the first position in the domestic paper packaging market for fast-moving consumer goods with a market share of 1.2% [10]. Future Plans - Jihong Co., Ltd. aims to expand its business footprint in Asia, particularly in Indonesia and Vietnam, while also planning to steadily enter the European market and explore high-growth potential regions in Latin America [11].

Core Viewpoint - Jihong Co., Ltd. has successfully listed on the Hong Kong Stock Exchange, becoming the first "A+H" cross-border social e-commerce stock, with a significant opening increase of 43% to HKD 11, reflecting market recognition of its dual-track leadership and AI-driven capabilities [1][4][2]. Group 1: Company Overview - Jihong Co., Ltd. was established in 2003 and initially focused on providing packaging solutions for fast-moving consumer goods. It has since expanded into cross-border social e-commerce, leveraging its experience in packaging to connect suppliers with consumers in Asia, Europe, and North America [6][11]. - The company operates two main business segments: ToC precision marketing cross-border social e-commerce and ToB comprehensive marketing design and packaging services, establishing a leading position in both sectors [6][11]. Group 2: Financial Performance - Jihong's cross-border social e-commerce business generated revenues of CNY 3.107 billion, CNY 4.257 billion, and CNY 3.366 billion from 2022 to 2024, accounting for approximately 60% of total revenue [11]. - The gross margin for the cross-border social e-commerce business exceeded 60% in 2023 and 2024, significantly higher than the industry average, indicating a successful "technology premium" model [11]. - In Q1 2025, Jihong achieved a revenue of CNY 1.477 billion, a year-on-year increase of 11.55%, with net profit rising by 57.97% to CNY 62.47 million [12]. Group 3: Technological Advancements - Jihong has developed the Giikin system, which integrates AI applications to optimize the entire business process from product selection to logistics, reducing the product selection cycle by 60% and increasing the accuracy of hit product predictions to 82% [7][8]. - The company has filed for 4 patents and 140 software copyrights related to its cross-border social e-commerce algorithms and software systems, showcasing its commitment to technological innovation [8]. Group 4: Market Position and Strategy - Jihong's cross-border e-commerce business is positioned in a rapidly growing market, with the Asian segment contributing over 80% of its revenue, allowing it to mitigate risks from trade policy fluctuations in Europe and the U.S. [17][18]. - The company plans to use the proceeds from its IPO to expand into Southeast Asia, Europe, and Latin America, capitalizing on the growth potential in these emerging markets [24][27]. Group 5: Packaging Business Growth - Jihong's paper packaging business has shown steady growth, with production increasing from 846.7 million square meters in 2022 to 1.026 billion square meters in 2024 [19]. - The company is actively developing biodegradable materials and lightweight structures to meet the growing demand for sustainable packaging solutions [19][20]. Group 6: Shareholder Returns - Jihong has a strong commitment to returning value to shareholders, with a cash dividend distribution plan announced for 2024, amounting to CNY 68.17 million [13]. - The company has also implemented a share buyback plan, reflecting its confidence in future business growth [13].

Core Viewpoint - The company, Xiamen Jihong Technology Co., Ltd. (吉宏股份), has successfully leveraged a social e-commerce model to expand its cross-border business, becoming a significant growth driver for the company [1][4]. Group 1: Company Overview - Xiamen Jihong Technology Co., Ltd. was officially listed on the Hong Kong Stock Exchange on May 27, with an opening price of HKD 11 per share, representing a 43.23% increase from the issue price, and a market capitalization exceeding HKD 5 billion [3][4]. - Established in 2003, the company initially focused on fast-moving consumer goods (FMCG) packaging, collaborating closely with well-known brands such as Yili and Luckin Coffee [4]. - The company has developed a one-stop packaging solution capability, providing comprehensive production processes in the paper-based FMCG packaging sector [4]. Group 2: Business Model and Growth Strategy - In 2017, the company identified the rapid increase in e-commerce penetration in Southeast Asia and innovatively adopted a social e-commerce model to expand its cross-border business [4]. - The company operates with a "data-driven, technology-enabled" approach, focusing on independent site models to offer diverse products and services, significantly reducing customer sourcing time and enhancing shopping experiences [4]. - The company has developed the Giikin system, powered by AI algorithms, to optimize the entire supply chain from product selection to logistics, successfully innovating its "goods find people" business model [4]. Group 3: Market Position and Industry Growth - As of now, the company has six brands, including SENADA BIKES, Veimia, Konciwa, and PETTENA, with products sold on e-commerce platforms and brand websites covering electric bicycles, underwear, sunshades, and pet supplies [5]. - The company ranks second among B2C export e-commerce companies in China with a market share of 1.3%, and first in the paper-based FMCG sales packaging sector with a market share of 1.2% [6]. - The paper-based FMCG sales packaging market in China is experiencing rapid growth, with the market size projected to increase from RMB 145.6 billion in 2020 to RMB 170.3 billion by 2024 [6]. - The Southeast Asian e-commerce market is recognized as the fastest-growing and most promising segment globally, positioning the company to benefit from ongoing market growth [6].

Group 1: Company Overview - Jihong Co., Ltd. (吉宏股份) is a leading player in the cross-border social e-commerce sector and has established itself as a key provider of paper packaging products for fast-moving consumer goods (FMCG) since its founding in 2003 [1][4] - The company went public on the Shenzhen Stock Exchange in July 2016 and expanded its business into cross-border social e-commerce in 2017, which has since become its primary revenue source [1][4] - Jihong Co., Ltd. aims to leverage its dual business model of cross-border social e-commerce and paper packaging to create synergies and mitigate risks [4] Group 2: Market Performance and Financials - Jihong Co., Ltd. reported total revenues of CNY 5.376 billion, CNY 6.695 billion, and CNY 5.529 billion for the years 2022, 2023, and 2024 respectively, with net profits of CNY 172 million, CNY 332 million, and CNY 184 million during the same period [6] - In Q1 2025, the company achieved revenue of CNY 1.477 billion, representing a year-on-year growth of 11.55%, with a net profit of CNY 59.16 million, up 38.21% [6] Group 3: IPO and Fund Utilization - The company has set the final price for its H-share IPO at HKD 7.68 per share, with trading expected to commence on May 27, 2025 [1] - Proceeds from the IPO will be allocated as follows: approximately 40% for overseas market expansion, 35% for technology development, 15% for brand expansion, and 10% for working capital [7][8] Group 4: Industry Trends and Growth Potential - The cross-border social media e-commerce sector in China is rapidly reshaping global trade, with a projected market size of USD 927.6 billion by 2029, accounting for 11.4% of the global B2C e-commerce market [3] - The Asian e-commerce market, particularly outside of China, is expected to show significant growth potential due to factors such as a large population base, increasing internet penetration, and a growing middle class [2][3]