Core Viewpoint - The upcoming exhibitions in Zhengzhou are expected to showcase both emerging industries and local advantageous industries, contributing to the city's economic vitality and development momentum [1] Industry Summary - The Zhengzhou International Convention and Exhibition Center will host a series of exhibitions in October, including: - The 6th Zhengzhou ACC Animation Exhibition from October 2 to 4 - The 9th Central Plains International Pet Supply Chain Expo and the 25th Zhengzhou Beauty and Cosmetics Industry Expo from October 10 to 12 - The 21st China (Zhengzhou) International Tea Industry Expo and Beverage Exhibition from October 10 to 13 - The 27th China International Software Expo and the 3rd Central Plains Zhengzhou International Aluminum Industry Exhibition from October 15 to 17 - The Central China Printing and Packaging Expo and the Central China Plastics and Rubber Industry Expo from October 17 to 19 - The China (Zhengzhou) Tourism Leisure and Entertainment Industry Expo from October 22 to 24 - The Global Meat Industry Expo from October 28 to 30 [1] Economic Impact - Industry insiders believe that the exhibition economy serves as a resilient link connecting global market resources and opportunities while stimulating local industry innovation and development, positioning it as a new engine for high-quality development in Zhengzhou [1]

Core Viewpoint - The company, Jihong Co., Ltd., announced plans to provide guarantees for its subsidiaries' procurement contracts, increasing the total guarantee amount to RMB 6.5 billion by 2025 [1][2]. Group 1: Guarantee Plans - The company will hold board meetings on April 1 and April 25, 2025, to approve a guarantee amount of up to RMB 4 billion for its subsidiaries [1]. - An additional guarantee amount of RMB 2.5 billion will be added, bringing the total guarantee amount to RMB 6.5 billion [1][2]. - The guarantees will be provided based on supplier requirements and will cover various subsidiaries involved in supply chain management and printing [1][2]. Group 2: Financial Overview - As of the announcement date, the company and its subsidiaries have a total guarantee balance of approximately RMB 2.36 billion, which accounts for 10.67% of the company's audited net assets for 2024 [2]. - For the fiscal year 2024, the company's revenue composition is as follows: e-commerce accounts for 60.87%, printing and packaging for 37.97%, and other business revenues for 1.16% [2]. - The company's market capitalization is reported to be RMB 7.7 billion [3].

Group 1 - The core point of the article is that Jihong Co., Ltd. announced the convening of its fifth board meeting to review the 2025 semi-annual report and summary [2] - For the first half of 2025, Jihong Co., Ltd.'s revenue composition is as follows: e-commerce accounts for 65.45%, printing and packaging accounts for 34.49%, and other business revenue accounts for 0.06% [2]

Core Viewpoint - Yongji Co., Ltd. is planning to acquire control of Nanjing Tenafly Electronic Technology Co., Ltd. through a combination of share issuance and cash payment, while also raising funds from no more than 35 specific investors [2][4]. Group 1: Acquisition Details - The transaction may constitute a major asset restructuring but will not lead to a change in the actual controller of the company [4]. - Yongji Co., Ltd. will suspend trading of its stock starting August 14, 2025, for a period not exceeding 10 trading days [4]. - Tenafly, established in 2019, focuses on the research, production, and sales of data storage controller chips, applicable in various fields such as consumer electronics and data centers [4]. Group 2: Company Background - Yongji Co., Ltd. primarily engages in the design, production, and sales of cigarette labels and other packaging products [5]. - The company has experienced relatively stable growth in recent years, with a reported revenue of 905 million yuan in 2024, reflecting a year-on-year increase of 10.69%, and a net profit of 160 million yuan, up 59.77% [7][6]. Group 3: Previous Acquisitions - This is not Yongji Co., Ltd.'s first cross-industry acquisition; in 2020, the company acquired an Australian controlled drug business, TB, which has since developed into a comprehensive supplier of controlled drugs [8]. - In March of this year, Yongji Co., Ltd. announced a plan to issue A-shares to specific investors to raise up to 490 million yuan for various projects, including the acquisition of Phytoca Holdings Pty Ltd [8][10]. Group 4: Strategic Intent - The acquisition of Phytoca Holdings is aimed at enhancing Yongji Co., Ltd.'s overseas controlled drug business by leveraging Phytoca Pty's established brands and sales channels [10]. - The current move into the chip sector suggests a potential development of a third main business for Yongji Co., Ltd. [11].

Group 1 - The stock price of Global Printing closed at 8.55 yuan on August 13, 2025, down 0.93% from the previous trading day, with a trading volume of 137,713 hands and a transaction amount of 118 million yuan [1] - Global Printing primarily engages in pharmaceutical packaging, internet digital marketing, and printing packaging supply chain services, with products including pharmaceutical packaging boxes and consumer goods packaging [1] - According to the latest disclosed half-year report for 2025, Global Printing achieved operating revenue of 439 million yuan in the first half, a year-on-year decrease of 43.53%, with internet digital marketing revenue declining by 78.27%, leading the company to decide to scale back this business segment [1] Group 2 - During the reporting period, the company reported a net loss attributable to shareholders of 3.7199 million yuan, marking a shift from profit to loss [1] - On August 13, the net outflow of main funds for Global Printing was 3.875 million yuan, while the cumulative net inflow over the past five trading days was 1.472 million yuan [1]

Group 1 - Yongji Co., Ltd. announced on August 13 that it is planning to acquire control of Nanjing Tenafly Electronics Technology Co., Ltd. through a combination of issuing shares and cash payment, and will raise matching funds by issuing shares to no more than 35 specific investors [1][5] - The transaction may constitute a major asset restructuring but will not lead to a change in the actual controller of Yongji Co., Ltd. and does not constitute a restructuring listing [1] - Yongji Co., Ltd. has signed a letter of intent for acquisition with the actual controller of Tenafly, LEE MENG KUN, and the final transaction price will be determined based on reports from qualified auditing and asset evaluation institutions [5] Group 2 - Yongji Co., Ltd. specializes in the design, research and development, production, and sales of cigarette labels and other packaging printing products, and has expanded into the social printing market, including cigarette labels, liquor packaging, and pharmaceutical packaging [5][7] - The company has also ventured into the overseas controlled pharmaceutical industry, exploring a second main business to optimize its industrial layout and cultivate new growth curves [7] - In 2024, Yongji Co., Ltd. reported revenue of 905 million yuan, a year-on-year increase of 10.69%, and a net profit attributable to shareholders of 160 million yuan, a year-on-year increase of 59.77% [7] Group 3 - The overseas controlled pharmaceutical business in Australia is focused on treating chronic pain, cancer pain relief, pediatric epilepsy, and assisting in the treatment of mental illnesses [7] - Yongji Co., Ltd. has previously invested in the semiconductor industry, specifically in Shanghai Aiyuan Semiconductor Co., Ltd., but decided to terminate further investment due to changes in external conditions and delays in the commercialization of technology [7] - As of August 13, Yongji Co., Ltd.'s stock price closed at 10.88 yuan per share, an increase of 3.82% [8]

Group 1 - Yongji Co., Ltd. is planning to acquire control of Nanjing Tenafly Electronic Technology Co., Ltd. through a combination of issuing shares and cash payments, with the stock and convertible bonds set to be suspended from trading starting August 14, 2025 [1][2][4] - The acquisition is still in the planning stage, and no formal agreement has been signed yet, indicating that the specific transaction details are still under discussion [5][6] - Yongji's main business currently focuses on the design, research and development, production, and sales of cigarette labels and other packaging products, with over 80% of revenue coming from the printing and packaging sector [6][7] Group 2 - The main business of Yongji Co., Ltd. includes the production of data storage control chips, which are applicable in various fields such as consumer electronics, graphics video, automotive storage, industrial-grade, and data centers [5] - In the first quarter of this year, Yongji reported a decline in net profit attributable to the parent company, primarily due to a decrease in sales prices of its main cigarette label products and increased competition in the printing and packaging industry [8][9] - As of August 13, 2025, Yongji's stock price was reported at 10.88 yuan per share, with a total market capitalization of 4.6 billion yuan [10]

Group 1 - Yongji Co., Ltd. is planning to acquire control of Nanjing Tenafly Electronic Technology Co., Ltd., which specializes in the research, production, and sales of data storage main control chips [2][6] - The acquisition will be conducted through a combination of issuing shares and cash payments, with plans to raise supporting funds from no more than 35 specific investors [2] - Yongji Co., Ltd. has announced that its stock, convertible bonds, and the conversion of convertible bonds will be suspended from trading starting August 14, 2025, for a period not exceeding 10 trading days [4][6] Group 2 - The transaction may constitute a major asset restructuring but will not lead to a change in the actual controller of the company, thus not qualifying as a restructuring listing [4] - As of August 13, 2025, Yongji Co., Ltd.'s stock price was reported at 10.88 yuan per share, with a total market value of 4.6 billion yuan [10] - The company’s main business includes the design, research, production, and sales of cigarette labels and other packaging products, with over 80% of revenue coming from the printing and packaging sector [6][8] Group 3 - Yongji Co., Ltd. is actively exploring new business opportunities in emerging sectors, including the pharmaceutical industry, to optimize its industrial layout and cultivate new growth curves [6][9] - The company reported a decline in net profit attributable to the parent company in the first quarter of the year, influenced by the macroeconomic environment and intensified competition in the printing and packaging industry [9][10]

Core Viewpoint - Yongji Co., Ltd. is planning to acquire control of Nanjing Turnafly Electronic Technology Co., Ltd., which specializes in the research, production, and sales of data storage main control chips [2][5][9]. Group 1: Acquisition Details - Yongji Co., Ltd. announced on August 13 that it is planning to acquire Turnafly's control through a combination of issuing shares and cash payments, while also raising supporting funds from no more than 35 specific investors [5][9]. - The acquisition may constitute a significant asset restructuring but will not lead to a change in the actual controller of the company, thus not qualifying as a restructuring listing [7][9]. - Trading of Yongji's stock, convertible bonds, and the conversion of convertible bonds will be suspended starting from August 14, 2025, with an expected suspension period of no more than 10 trading days [7][9]. Group 2: Company Background - Yongji Co., Ltd. primarily engages in the design, research, production, and sales of cigarette labels and other packaging products, with over 80% of its revenue coming from the printing and packaging sector [10][11]. - The company is also exploring opportunities in the overseas controlled pharmaceutical industry as a second main business to optimize its industrial layout and cultivate new growth curves [10][11]. - In the first quarter of 2024, Yongji reported a decline in net profit attributable to the parent company, influenced by a competitive printing and packaging industry and a slight decrease in sales prices of its main cigarette label products [13][14]. Group 3: Financial Performance - As of March 31, 2025, Yongji's total revenue was 2.27 billion, with a year-on-year growth of 1.24% [14]. - The company's net profit for the same period was 0.40 billion, reflecting a year-on-year decrease of 7.49% [14]. - Research and development expenses for the first quarter of 2025 were reported at 0.09 billion [14].

Core Viewpoint - The recent mid-year report for 2025 from Global Printing (002799) indicates significant declines in revenue and profit, primarily due to a contraction in the internet digital marketing business and increased management costs [2][14]. Business Overview - As of the reporting period, the total operating revenue was 439 million yuan, a year-on-year decrease of 43.53% [2]. - The net profit attributable to shareholders was -3.72 million yuan, down 109.85% year-on-year [2]. - The second quarter alone saw an operating revenue of 201 million yuan, a decline of 38.6% year-on-year [2]. Financial Metrics Analysis - The gross profit margin for the mid-year report was 16.48%, an increase of 12.38% year-on-year [3]. - The net profit margin was -1.03%, a decrease of 120.53% year-on-year [3]. - Earnings per share were -0.01 yuan, down 108.33% year-on-year [3]. Cost and Expenses - Total operating expenses (selling, administrative, and financial expenses) amounted to 50.56 million yuan, representing 11.52% of revenue, an increase of 105.42% year-on-year [4]. - Administrative expenses rose by 37.8%, primarily due to increased wages and salaries during the reporting period [4]. Main Business Composition - Revenue from the pharmaceutical and other paper box business was 212 million yuan, accounting for 48.31% of total revenue, with a gross margin of 20.64% [5]. - The printing and packaging supply chain business generated 158 million yuan, making up 35.90% of total revenue, with a gross margin of 15.07% [6]. - Internet digital marketing contributed 66.03 million yuan, representing 15.04% of total revenue, with a gross margin of 3.00% [7]. - Other business segments generated 3.27 million yuan, accounting for 0.75% of total revenue, with a gross margin of 86.71% [8]. Regional Distribution - Revenue from the North China region was 154 million yuan, accounting for 35.15% of total revenue, with a gross margin of 15.55% [9]. - The Central South region contributed 114 million yuan, representing 26.08% of total revenue, with a gross margin of 13.68% [10]. - The East China region generated 91.34 million yuan, making up 20.81% of total revenue, with a gross margin of 14.80% [11]. - Revenue from Northwest, Northeast, Southwest regions, and overseas sales were 36.71 million yuan, 24.38 million yuan, 13.81 million yuan, and 3.93 million yuan, respectively [13]. Operational Commentary - The decline in operating revenue is primarily attributed to the contraction in the internet digital marketing business, alongside increased management costs and overdue accounts receivable [14]. - Despite these challenges, the company maintains a competitive edge in the pharmaceutical and consumer packaging sectors and continues to optimize resource allocation to enhance overall efficiency [14]. Core Competitiveness Analysis - The company possesses advantages in brand and customer resources, manufacturing, innovation, management, and safety and environmental protection in the pharmaceutical packaging business [15]. - In the printing and packaging supply chain management sector, the company has advantages in industry resource integration, customer resources, R&D and technical services, and talent [15]. Financial Health Status - The company has a healthy cash asset position, but attention is needed on cash flow, with the average operating cash flow over the past three years being 15.09% of current liabilities [16].