并购重组是资本市场的大事，也是提高上市公司质量的关键一招。在江西省国资委优化资源配置、支持 企业高质量发展的背景下，2025年1月1日，安源煤业(600397)控股股东江能集团与江钨控股签署关于安 源煤业股份无偿划转协议。至2025年4月初，上述国有股份无偿划转完成过户登记手续。同期安源煤业 发布公告，江钨控股拟将控股子公司江西江钨控股发展有限公司（简称"江钨发展"）持有的赣州金环磁 选科技装备股份有限公司（简称"金环磁选"）57%股份与公司所持有的煤炭业务相关资产及负债进行置 换，从而实现公司主营业务战略转型。 近期，A股上市公司2024年年报披露完毕，江西国有控股上市"成绩单"出炉，在资本市场助力下，整体 发力显效，重点领域实力凸显。据统计，江西国资旗下23家A股上市公司在2024年累计实现营业收入约 7082亿元，不仅刷新了历史纪录，还首次在全国排名中跻身前七，展现出强劲的发展势头。 在今年3月份举行的"推动江西经济高质量发展"系列新闻发布会上，江西省国资委表示将采取多项举措 推动国有企业持续加大科技创新力度，包括深化企业科技创新机制改革、强化企业创新资源集聚、建强 用好企业创新平台、加大关键核心技术攻 ...

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].

共研产业研究院通过对公开信息分析、业内资深人士和相关企业高管的深度访谈，以及分析师专业性判断 和评价撰写了《2025-2031年中国化妆品包装瓶市场全景调查与发展趋势研究报告》。本报告为化妆品包装 瓶企业决策人及投资者提供了重要参考依据。 为确保化妆品包装瓶行业数据精准性以及内容的可参考价值，共研产业研究院团队通过上市公司年报、厂 家调研、经销商座谈、专家验证等多渠道开展数据采集工作，并运用共研自主建立的产业分析模型，结合 市场、行业和厂商进行深度剖析，能够反映当前市场现状、热点、动态及未来趋势，使从业者能够从多种 维度、多个侧面综合了解当前化妆品包装瓶行业的发展态势。 化妆品包装瓶是指专门设计用于容纳、保护和储存化妆品的容器，其设计需兼顾功能性、安全性和美观 性，同时满足消费者使用体验和品牌传播需求。化妆品包装瓶是连接产品与消费者的关键媒介，其设计需 综合考虑功能性、安全性和品牌价值。 化妆品包装瓶核心功能 化妆品包装瓶市场发展趋势 报告目录： 消费者对产品美观性、功能性和环保性要求提升，推动包装向轻量化、定制化发展（如迷你口红管、立体 雕刻包装）。2024年，全球化妆品包装瓶市场规模达到22.7亿美元，预 ...

Core Viewpoint - Fangda New Materials has transformed from an unknown small enterprise into a leading company in the adhesive materials industry, leveraging capital and technological innovation to enhance its market position [1][2]. Company Development - Founded in 2003, Fangda New Materials has progressed through various stages, including listing on the New Third Board in 2016, moving to the Select Tier in 2020, and finally listing on the Beijing Stock Exchange in 2021 [1]. - The company started with logistics labels and has expanded into the adhesive materials sector, focusing on personalized packaging solutions for the rapidly growing express delivery market [2]. Market Trends - The express delivery industry in China is projected to handle 1,750.8 billion packages in 2024, reflecting a year-on-year growth of 21.5%, which directly increases the demand for adhesive labels [2]. - The company aims to capitalize on the booming express delivery sector, which is seen as a "golden track" for growth [2]. R&D and Production Capacity - Fangda New Materials emphasizes strong technological R&D capabilities and a comprehensive industrial chain layout, mastering key production processes and dozens of technical formulas [3]. - The company has initiated a project for producing variable information labels, utilizing advanced automation and smart production systems to enhance product quality and precision [3][4]. - The launch of three new production lines has alleviated previous capacity constraints, allowing for significant increases in adhesive material production [3]. Strategic Goals - The company is committed to digital transformation in manufacturing, focusing on smart production and environmental sustainability [4]. - Fangda New Materials has established partnerships with major logistics companies like JD, SF, and FedEx, which helps in continuous R&D and market feedback [5]. - Plans for 2024 include further increasing R&D investment and expanding market share through additional automated production lines [5]. Industry Outlook - The adhesive label industry is expected to see consolidation, with weaker companies being merged or transformed, leading to increased industry concentration [6]. - Fangda New Materials is positioned to leverage its product quality and smart manufacturing efficiencies to enhance its competitive edge in both domestic and international markets [6]. - The company has begun exploring overseas markets, establishing joint processing plants in the U.S. and Canada, and aims to expand its global footprint while maintaining a focus on international sales [6].

Core Viewpoint - Xiamen Jihong Technology Co., Ltd. (Jihong Co.) has made a significant market debut, becoming the first "AI cross-border social e-commerce A+H stock" in the Hong Kong market, reflecting the strong momentum of China's cross-border e-commerce industry amid globalization and digitalization [1][3] Group 1: Company Performance - In 2024, Jihong Co. achieved impressive financial results with a revenue of 552.93 million yuan and a net profit of 18.19 million yuan [4] - The company's cross-border social e-commerce business generated revenue of 336.59 million yuan, becoming the core engine of its growth [4] - Jihong Co. ranks second in the Chinese B2C export e-commerce sector with a 1.3% market share [4] Group 2: Business Model and Strategy - Jihong Co. operates under a dual-driven business model, combining cross-border social e-commerce with paper packaging solutions [3][4] - The company employs a unique "goods find people" model, leveraging consumer data to identify needs and guide purchasing decisions, contrasting with the traditional "people find goods" approach [5][6] - The cross-border social e-commerce business accounted for 60.9% of total revenue in 2024, with a high gross margin of 60.5% [6] Group 3: Packaging Solutions - Jihong Co. is a leading provider of one-stop paper packaging solutions, integrating various processes from design to logistics [8][9] - The company holds a 1.2% market share in the Chinese paper packaging sector, ranking first in revenue among domestic companies [9] - The paper packaging market in China is projected to grow from 1,456 billion yuan in 2020 to 1,703 billion yuan in 2024, with expectations to reach 2,227 billion yuan by 2029 [9] Group 4: Environmental and Market Trends - The company is positioned to benefit from increasing environmental awareness and stringent ESG policies, which are reshaping the packaging industry [10][11] - Jihong Co. has seen its paper packaging output rise from 846.7 million square meters in 2022 to 1,026.1 million square meters in 2024 [11] - The company has established partnerships with major brands like Yili and McDonald's, enhancing its market presence [12] Group 5: Future Outlook - Jihong Co. aims to transition from merely "cross-border selling" to "brand output," with a target to increase brand business contribution to 30% by 2027 [13] - The company's strategic focus includes leveraging AI technology and expanding its brand matrix to explore new valuation opportunities [14]

吉宏股份（02603.HK）今日登陆港交所率先成为"A+H"跨境 社交电商股，开盘涨43%至11港元，上市即入港股通刷新资 本市场效率。其自主研发的Giikin系统实现AI全链路赋能，募 资5.05亿港元将投入东南亚仓储及AI技术升级，锚定跨境电商 万亿新蓝海。 公开资料显示，目前吉宏股份主营业务覆盖 ToC端精准营销跨境社交电商业务和ToB端全案营销设计包装服务，并已在上述两大核心业务板块确立领先 的行业龙头地位。 作者： 王海言 封图：图片资料室 2025年5月27日，吉宏股份（002803.SZ、02603.HK）正式登陆港交所，成为率先 完 成 A+H两地上市的跨境社交电商企业。此外，5月26日，上交 所发布通知将吉宏股份调入沪港通下港股通标的名单，成为率先港股发行上市就入通的企业。 此次 IPO，吉宏股份全球发售6791万股H股，发行价格为7.68港元/股，募资净额约5.05亿港元，拟用于海外市场拓展、技术研发及品牌建设。 上市首日，吉宏股份开盘报 11港元/股，较发行价上涨43.23%，市值突破50亿港元，彰显市场对"双赛道龙头"的认可。 当前，社交电商行业正经历由 AI、大数据等前沿技术驱动的深 ...

通过社交电商模式开拓跨境业务，成为公司重要增长动能。 5月27日，厦门吉宏科技股份有限公司（吉宏股份，02603.HK/002803.SZ）正式在港交所挂牌上市。 此外，上交所发布沪港通下港股通标的调整通知，吉宏股份被调入沪港通下港股通标的名单，成为首 家港股发行上市就纳入港股通的企业。 上市首日，吉宏股份开盘报11港元/股，较发行价上涨43.23%，市值突破50亿港元。 资料显示，吉宏股份成立于2003年，早期以快消品包装业务为核心，凭借高精度印刷技术和规模化生 产能力，与伊利、瑞幸咖啡等知名快消品牌建立密切合作，是为数不多的有能力提供涵盖完整生产过 程的一站式包装解决方案的中国纸制快消品包装解决方案公司之一。 2017年，吉宏股份捕捉到东南亚电商渗透率快速提升的机遇，依托包装业务积累的供应链资源，创新 性地采用社交电商模式开拓跨境业务。经过多年深耕，该业务已成为公司重要增长动能。 作为一家"数据为轴，技术驱动"的企业，吉宏股份专注于通过独立站模式提供多样化的商品和服务， 通过"货找人"的业务模式，大幅降低客户找货时间成本，提升客户购物体验。 同时，吉宏股份还通过AI技术赋能的全球化布局已形成差异化竞争力， ...

Group 1 - The Shandong YeHua Paper Products Packaging Co., Ltd. has established itself as a leading technology-driven production enterprise with an annual production capacity of 96 million square meters of corrugated boxes and a daily output of nearly 400,000 boxes [4][6] - The local government in Shanghe County has initiated a quality brand cultivation recognition program to help local enterprises transition from strong hardware capabilities to strong brand recognition, aiming to enhance the market presence of "Shanghe-made" products [1][6] - The program categorizes brand cultivation into manufacturing, service, and high-quality agriculture, with assessment indicators including economic benefits, technological innovation, quality development, and brand building [4][6] Group 2 - The recognition program aims to provide one-on-one technical guidance to interested enterprises, helping them understand the importance of brand value and the processes involved in brand building [6][8] - Local enterprises like Jinan Huaqing Agricultural Machinery Technology Co., Ltd. are highlighted for their innovative products, such as a garlic planting machine that improves planting efficiency, showcasing the potential of local brands [8][9] - The initiative seeks to create a brand cultivation database in Shanghe County, enhancing the competitive market landscape and promoting regional characteristics through effective brand storytelling [8][9]

Company Overview - Xiamen Jihong Technology Co., Ltd. (referred to as "Jihong Co.") officially listed on the Hong Kong Stock Exchange on May 27, 2025, under the stock code 02603.HK [1] - Established in 2003, Jihong Co. operates in cross-border e-commerce and paper packaging for fast-moving consumer goods (FMCG) [3] - The company aims to provide one-stop paper packaging products and services for FMCG clients, focusing on marketing strategies, product design, process design, technical planning, and logistics [3] Industry Insights - The B2C cross-border social media e-commerce business in Asia (excluding mainland China) is expected to experience strong growth due to factors such as a large population base, increasing internet penetration, and a growing middle class [5] - The market size for China's B2C export social media e-commerce in Asia is projected to reach USD 29.1 billion in 2024, with an expected growth to USD 69.5 billion by 2029, reflecting a compound annual growth rate (CAGR) of 19.0% from 2024 [5][8] Market Drivers for Social Media E-commerce - Continuous growth in social media platform traffic due to an expanding user base and increased time spent on these platforms [8] - Advancements in data analytics and advertising technology enhance platforms' ability to understand consumer needs and identify potential buyers, increasing purchase motivation and conversion rates [8] - Growing consumer trust in social media platforms, leading to a higher likelihood of purchasing through these channels [8] Market Dynamics for Paper Packaging - The market size for paper packaging in China's FMCG sector has grown from RMB 145.6 billion in 2020 to RMB 170.3 billion in 2024, with expectations to reach RMB 222.7 billion by 2029 [8][10] - Key drivers include the accelerated launch of new products in response to rising consumer expectations and the increasing frequency of product category updates [10] - Environmental policies promoting the use of paper packaging over plastic are expanding market opportunities, as paper is biodegradable and offers superior packaging performance [10][11] - The need for enhanced packaging value due to intense competition in the FMCG sector is driving investment in paper packaging solutions [11]

Core Viewpoint - Jihong Co., Ltd. successfully listed on the Hong Kong Stock Exchange, with an opening price of HKD 11 per share and intra-day gains exceeding 60% [1] Group 1: Company Overview - Jihong Co., Ltd. started with packaging business and later expanded into cross-border social e-commerce, forming a dual-driven development model [1] - The company was listed on the Shenzhen Stock Exchange in July 2016 and has faced multiple inquiries from the Shenzhen Stock Exchange regarding its market activities [1][6] - The company plans to use the funds raised from the Hong Kong listing for overseas market expansion, brand portfolio enhancement, and development of self-owned brands [2][4] Group 2: Financial Performance - In 2024, Jihong Co., Ltd. reported total revenue of approximately CNY 5.53 billion, a year-on-year decline of 17.41% [4] - The net profit attributable to shareholders was approximately CNY 182 million, down 47.28% year-on-year, while the net profit excluding non-recurring gains and losses was about CNY 160 million, down 50.83% [4] - The cross-border social e-commerce business generated revenue of CNY 336.59 million, a decrease of 20.93%, while the packaging business saw a slight increase of 0.14% to CNY 209.95 million [5] Group 3: Market Strategy and Future Plans - Jihong Co., Ltd. aims to advance its global strategy by expanding overseas operations and establishing partnerships with international companies [5] - The company intends to create a "China standard + localized service" model to provide innovative and sustainable products and services [5] - The company has been recognized for its ability to capture market trends, having engaged in various hot topics such as blockchain and the metaverse [6][7]