Core Viewpoint - Xiamen Jihong Technology Co., Ltd. has officially launched its IPO plan on the Hong Kong Stock Exchange, aiming for listing on May 27, 2025, to further expand its capital market presence [1] Group 1: IPO Details - The IPO price range is set between HKD 7.48 and HKD 10.68, with a global offering of 67.91 million H-shares, potentially raising approximately HKD 725 million at the highest price [1] - Key cornerstone investors, including Timber Kangaroo, Yulong International, and Ms. Shen Zhenyu, have committed to subscribe for a total of HKD 155 million worth of shares [1] Group 2: Financial Performance - Revenue for the years 2022, 2023, and 2024 reached RMB 5.376 billion, RMB 6.695 billion, and RMB 5.529 billion respectively, with a notable decline in 2024 revenue compared to 2023 [2][3] - Despite a 20.93% year-on-year decline in the cross-border social e-commerce business revenue in 2024, it still accounted for a significant portion of the company's total revenue, amounting to RMB 3.366 billion [2] - The company's gross profit and gross margin for 2024 were RMB 2.419 billion and 43.8% respectively, indicating a strong profitability despite revenue fluctuations [2][3] Group 3: Ownership Structure - The company has a family-oriented ownership structure, with founder and general manager Ms. Zhuang Hao holding 18.09% of the shares, alongside her husband Zhang Ping, who co-controls the company [4] - Other significant shareholders include Zhuang Shu and He Jingying, who also hold substantial stakes in the company [4] Group 4: Future Outlook - The upcoming listing on the Hong Kong Stock Exchange is expected to provide Jihong Technology with broader financing channels and a more diversified investor base, supporting its ongoing business development and innovation [7] - The company aims to become a leading global provider of fast-moving consumer goods packaging and cross-border e-commerce services, maintaining a commitment to innovation, pragmatism, and efficiency [7]

Core Viewpoint - Jihong Co., Ltd. is launching a global offering of H shares, marking a significant step in its dual-platform strategy of "A+H" and aiming to inject global momentum into its cross-border e-commerce and green packaging businesses [1] Group 1: Global Offering Details - The global offering consists of 67,910,000 H shares, with 6,791,000 shares allocated for public offering in Hong Kong and 61,119,000 shares for international offering [1] - The price range for the H share issuance is preliminarily set between HKD 7.48 and HKD 10.68 [1] Group 2: Cross-Border E-Commerce Performance - Jihong Co., Ltd. ranks second among Chinese B2C export e-commerce companies with a market share of 1.3%, generating revenue of CNY 336,590.31 million from its cross-border social e-commerce business in 2024 [2] - The company's unique "goods find people" model has contributed to its success, allowing for proactive identification of target customers based on consumer data [2][3] - Revenue from the cross-border social e-commerce business accounted for 57.8%, 63.6%, and 60.9% of total revenue from 2022 to 2024, with corresponding gross profit margins of 59.1%, 63.1%, and 60.5% [3] Group 3: Packaging Business Growth - Jihong Co., Ltd. is a leading provider of paper packaging solutions in mainland China, with a market share of 1.2% in the fast-moving consumer goods (FMCG) packaging sector [4] - The market size for paper FMCG packaging in mainland China is projected to grow from CNY 145.6 billion in 2020 to CNY 170.3 billion in 2024, with expectations to reach CNY 222.7 billion by 2029 [5] - The company has established strong partnerships with major FMCG brands, enhancing its competitive position in the packaging industry [6] Group 4: Environmental Trends and Innovations - The shift towards environmentally friendly packaging solutions is reshaping the industry, with increasing emphasis on sustainability and compliance with ESG policies [5] - Jihong Co., Ltd. has been proactive in developing eco-friendly packaging materials and technologies, positioning itself to benefit from the growing demand for sustainable packaging [6]

今年以来，在流动性改善、上市制度改革等多重利好推动下，投资者信心得到修复，港股IPO市场亦持 续升温。截止5月18日，港股已上市22只新股，不仅募资额较往年同期有明显增长，打新收益也同步水 涨船高。 市场情绪趋于乐观之际，一家跨境社交电商龙头吉宏股份(02603)于5月19日-5月22日开启招股。公司拟 全球发售6791万股，发售价为每股发售股份7.48-10.68港元，预期将于2025年5月27日登陆港股，并将成 为首家完成A+H两地上市的跨境社交电商企业。 据了解，吉宏股份此次IPO引入了Timber Kangaroo Capital Limited、昱龙国际资本等多个基石投资者。 其中，Timber Kangaroo实控人郑世杰是新加坡人，旗下基金专攻东南亚互联网基建，昱龙国际资本为 一家专注于海内外资本市场的投资公司，由苏施锦女士全资拥有，沈臻宇则是东北老牌药企誉衡药业 (002437.SZ)的董事长，此次IPO入局也表明了专业投资机构对公司前景充满信心。 公开资料显示，吉宏股份已在跨境社交电商和纸制快消品包装两大核心业务板块确立领先的行业龙头地 位。公司2024年亚洲社交电商业务收入规模位居中国B2 ...

今天分享的是：2025中国零售渠道演变趋势-Nielsen 报告共计：22页 2025中国零售渠道演变趋势总结 一、市场整体回暖与渠道分化 2024年1-11月，中国全渠道重点快消品销售额同比增长3.8%，较2023年同期（+1.4%）明显回暖，其中线上渠道增长10.8%，线下渠道微降0.7%，"以价换 量"成为销售回升的主旋律。各零售业态呈现显著分化：内容电商、折扣电商、会员店、零食店等新兴渠道增速亮眼（分别为+31%、+35%、+25%、 +20%），而大卖场、母婴店、化妆品店等传统业态面临销售额下滑压力（分别为-10%、-11%、-7%）。消费诉求的分层（价格敏感、体验需求、即时性需 求等）推动零售业态加速多元化，例如折扣超市凭借价格优势崛起，会员店通过忠客回馈和高质选品吸引消费者，O2O渠道则以速度优势满足即时需求。 2. 生鲜化： 二、渠道结构的三大核心演变方向 生鲜成为商超引流核心品类，2024年大卖场超市购物者中，43%因新鲜水果蔬菜到访，生鲜门店数增速（+17%）显著高于整体标超小超。小型超市通过源 头直采、标品化包装（如冷冻蔬菜销售额同比提升2倍）和小包装策略（如7.2元/个的小份烘焙品）提 ...

Core Viewpoint - Jihong Co., Ltd. is set to launch its IPO, offering 67.91 million shares at a price range of HKD 7.48 to 10.68, with H-shares expected to be listed on May 27, 2023. The company is positioned as the first "AI-driven cross-border social e-commerce A+H stock" and is a leader in both the B2C export e-commerce and paper fast-moving consumer goods packaging industries, showcasing significant multi-dimensional value potential [1]. Industry Overview - Jihong Co., Ltd. operates in the B2C export social media e-commerce sector and the paper fast-moving consumer goods packaging industry, both characterized by large market space and high growth potential. The Chinese B2C export e-commerce market is projected to reach USD 927.6 billion by 2029, accounting for 11.4% of the global market, with a compound annual growth rate (CAGR) of 15.2% from 2024 to 2029 [2]. - The Asian segment of the B2C export e-commerce market is expected to grow to USD 458.4 billion by 2029, with a CAGR of 15.8%, outpacing the overall market growth. Social media is identified as the fastest-growing traffic source in this sector, with the Asian market projected to reach USD 69.5 billion by 2029, growing at a CAGR of 19.0% [2]. Company Strategy and Performance - Jihong Co., Ltd. employs an AI-driven approach to enhance operational efficiency in cross-border e-commerce, effectively reshaping the competitive landscape and reducing costs. This strategy allows for improved product selection, marketing, and user experience, transitioning the competition from resource consumption to algorithm evolution [5]. - The company focuses on the Asian market, particularly along the Belt and Road Initiative, which provides stability against fluctuations in Western markets. Over 80% of its cross-border e-commerce revenue comes from Asia, with minimal exposure to the U.S. market [5]. - Jihong Co., Ltd. has a robust long-term strategy that includes AI-driven e-commerce, proprietary brand development, and international expansion of its packaging business. The company has developed the Giikin system to optimize its operations across the supply chain, achieving a low inventory turnover ratio and high return on investment (ROI) compared to industry averages [8][9]. - The company has established several proprietary brands and is leveraging its marketing data to enhance brand influence and sales efficiency. Its packaging business has also expanded into new markets, collaborating with local firms to strengthen its operational capabilities [9][10]. Financial Performance - In 2024, Jihong Co., Ltd. is projected to generate revenue of CNY 3.366 billion from cross-border social e-commerce, accounting for 60.9% of total revenue, while its paper packaging business is expected to contribute CNY 2.099 billion, or 38% [11]. - The company is anticipated to maintain a gross margin of 60.5% for its cross-border e-commerce segment, supporting an overall gross margin of 43.8%. In Q1 2025, Jihong Co., Ltd. reported a revenue of CNY 1.477 billion, a year-on-year increase of 11.55%, with net profit rising by 38.21% [11]. Conclusion - Jihong Co., Ltd.'s upcoming IPO is expected to enhance its market visibility and provide a platform for international expansion, potentially transforming it from a regional leader to a global player. The company's strategic focus on technology and market positioning is likely to drive its value and attract investor interest [12][13].

吉宏股份（002803.SZ）5 月 8 日通过港交所聆讯，冲刺 H 股上 市。公司以 "数据 + 技术" 驱动 ToC 跨境电商与 ToB 包装服 务，2022-2024 年营收超 50 亿元，净利润峰值 3.32 亿元。借 力 AI 深耕东南亚、中东市场，绑定伊利等头部客户。港股募资将 加码技术迭代与海外产能，以自有品牌及环保包装拓展全球版图。 封图：图片资料库 5 月 8 日 ， 国 内 跨 境 社 交 电 商 龙 头 企 业 厦 门 吉 宏 科 技 股 份 有 限 公 司 （ 下 称 " 吉 宏 股 份 " ， 002803.SZ ）通过港交所 IPO 聆讯，即将登陆香港资本市场。这是今年第五家上市港交所的 A 股 公司。 作为一家 " 数据为轴，技术驱动 " 的企业，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，其通过 AI 技术赋能的全球化布局已形成差异化竞争力。 公司不仅与伊利、瑞幸咖啡等头部快消品牌建立了深度合作，更凭借技术优势，电商业务已在东南 亚、中东等新兴市场占据领先地位。 叩开国际资本市场大门 2024 年 2 月 6 日，厦门吉宏科技股 ...

Group 1 - The company, Jihong Co., Ltd. (02603), plans to conduct an initial public offering (IPO) from May 19 to May 22, 2025, offering a total of 67.91 million shares, with 10% allocated for public sale in Hong Kong and 90% for international sale [1] - The proposed price range for the shares is between HKD 7.48 and HKD 10.68, with the expected listing date for H-shares on May 27, 2025 [1] - The company operates in cross-border social e-commerce and paper packaging for fast-moving consumer goods (FMCG), providing a one-stop service for FMCG clients since its establishment in 2003 [1] Group 2 - Following its listing on the Shenzhen Stock Exchange in 2016, the company has successfully transformed and expanded its business, achieving notable results in both operational and financial aspects [2] - According to Zhi Shi Consulting, the company ranks second among B2C export e-commerce companies in China with a market share of 1.3% in 2024, focusing on the Asian market [2] - The company is also the leading paper packaging company for FMCG in mainland China, holding a market share of 1.2% in 2024 [2] Group 3 - At an offering price of HKD 9.08 per share, the company expects to net approximately HKD 505.4 million from the global offering, with around 40% allocated for overseas market expansion [2] - Approximately 35% of the funds will be used for technology development, including enhancing research and development capabilities, data analysis, and expanding revenue sources through Jimiaoyun [2] - About 15% will be allocated to expanding the brand portfolio and developing existing proprietary brands, while 10% will be used for working capital and general corporate purposes [2] Group 4 - The company has entered into cornerstone investment agreements, with cornerstone investors agreeing to purchase shares worth USD 20 million at the offering price, including Timber Kangaroo Capital Limited and Yulong International Capital Limited [3] - Notable investors include Ms. Shen Zhenyu, the chairwoman of Harbin Yuheng Pharmaceutical Co., Ltd. (002437.SZ) [3]

5月17日8点,以"一起,我们跑更远"为主题的2025 渣打上海10公里跑在世博庆典广场鸣笛开赛。本届赛 事共设4500个跑者名额,以多元融合的赛制设计、 毗邻黄浦江畔的经典赛道,以及渣打跑系列IP的赛事 联动,持续为上海跑步文化增添多元色彩。 Shanghai 10km Run Shanghai 10km Run Shanahai 10km Run ahai 10km Rur 2025渣打上海10公里跑 & 2025 司:F 来自上海市浦东新区、中国（上海）自由贸易试验区 临港新片区管理委员会、浦东新区区委金融办、陆家 嘴金融城、英国驻上海总领事馆、上海金融业联合会、 上海市银行同业公会、上海市外商投资协会、迪桑特 的嘉宾,以及渣打银行高管代表共同为比赛鸣笛发令。 取与 37 -FF 10公里跑男子组冠军 ES HE 10公里跑女子组冠军 刘 晶 娅 渣打银行(中国) 行长兼副董事长 鲁静 "跑步运动简单轻盈,和渣打的文化很契合。多年来, 渣打在全球多个城市举办'渣打跑'。今年是渣打第5 次在中国内地举办10公里跑品牌赛事。我们很高兴在 政府机构、赞助商、合作伙伴的大力支持下，再次和 4500名热情的跑者一 ...

全球经济的波动性与不确定性已成为新常态。国际货币基金组织（IMF）在2025年《世界经济展望报告》中，将全球经济 增长预期从3.3%下调至2.8%，几乎所有主要经济体的增速均被调低。然而，危机往往孕育新机，中国企业正通过"稳拓新 域"的经营策略，在变局中探索增长新范式。 NO.1 中国快消品市场：逆势中的韧性 2025年一季度，中国城镇快速消费品市场销售额同比增长4.2%，展现出强劲开局。从品类分化看，饮料领跑，食品承压。 凯度消费者指数连续性监测数据显示，饮料类表现最为亮眼，2024年Q1-Q2连续两季度增长超10%，2025年Q1仍保持 6.09%的稳健增长。食品类增长略显乏力，2024年仅实现微增，2025年Q1略有2.5%的增长。 从驱动增长的核心动能看，企业对下沉市场的持续渗透、消费者购买频次的提升、银发和单身人群经济的拓展、消费场景 的细分深耕等发挥了关键作用。 例如镇级市场增长10.4%，远高于上线市场的0.7%。再比如家外细分市场中，娱乐场景增幅30%、餐饮场景增幅27%、运 动场景增幅25%。这都意味着企业深耕细作地域、场景、人群等细分消费市场大有可为。 NO.2 全球经济承压下的企业战略转 ...

智通财经APP获悉，近日，裕丰昌控股有限公司(08631)正式宣布进军中国内地市场，重磅推出"共享云 仓"战略，专注快消品领域的供应链整合与数字化运营，全面赋能电商直播产业链，开辟发展新赛道。 裕丰昌控股此次打造的"共享云仓"项目，将打通采购、仓储、物流到终端配送的全链路服务体系，构建 高效、柔性、可复制的供应链生态圈。通过引入先进的仓储管理系统与智能化调度机制，实现货品精准 定位、动态库存管理与全流程可视化追踪，大幅提升流转效率与运营水平。 作为深耕快消品行业多年的综合型企业，裕丰昌控股凭借在香港市场积累的成熟运营经验及完善的供应 链体系，具备强大的资源整合能力和市场应变能力。此次布局内地"共享云仓"，不仅是公司业务版图向 内地纵深延展的重要一环，更是抢占电商直播高速发展红利的前瞻之举。 随着电商直播与即时零售的持续爆发，市场上相关产业链的企业也备受资本关注。在港股市场中，京东 健康(06618)依托强大物流体系切入消费场景，阿里健康(00241)聚焦医药+电商的融合运营，快手- W(01024)则在直播带货方面持续释放商业潜力。 同时，公司将加大对专业人才的培养与投入，系统提升团队在电商直播供应链服务中的 ...