Group 1 - The core point of the article is that Reliable Co., Ltd. (SZ 301009) held a temporary board meeting on October 24, 2025, to review the proposal for the Q3 2025 report [1] - The company's revenue composition for the year 2024 is entirely from the paper products industry, accounting for 100.0% [1] - As of the report, Reliable Co., Ltd. has a market capitalization of 3.8 billion yuan [1]

Core Insights - Hunan Shenghong Technology Co., Ltd. has been established with a registered capital of 10 million RMB [1] - The legal representative of the company is Qiu Hengfa [1] Company Overview - The company is engaged in various general projects including technology services, development, consulting, exchange, transfer, and promotion [1] - It also involves manufacturing and sales of paper products, as well as processing and sales of renewable resources [1] - The company offers entrepreneurial space services, operating independently based on its business license [1]

Core Insights - Baoding Hongsheng Paper Products Co., Ltd. has been established with a registered capital of 2 million RMB [1] - The company is involved in a wide range of business activities including manufacturing and sales of paper products, personal hygiene products, and various consumer goods [1] Company Overview - The legal representative of the company is Zhang Qixing [1] - The registered capital is 2 million RMB [1] Business Scope - The company’s business activities include: - Manufacturing and sales of paper products - Sales of personal hygiene products and disposable medical supplies - Sales of daily necessities and miscellaneous goods - Wholesale and retail of hardware products - Sales of daily chemical products and chemical products (excluding licensed chemical products) - Sales of food additives and cosmetics - Sales of plastic packaging containers and tools for food - Sales of home goods, leather products, machinery, electronic products, electrical equipment, and building materials - Internet sales (excluding goods that require licenses) [1]

Core Viewpoint - A new company, Suqian Lisen Packaging Materials Co., Ltd., has been established with a registered capital of 2 million RMB, focusing on various sales and manufacturing activities related to packaging materials and other products [1] Company Summary - The legal representative of Suqian Lisen Packaging Materials Co., Ltd. is Wu Lili [1] - The registered capital of the company is 2 million RMB [1] - The company operates in a wide range of sectors including sales of packaging materials, paper products, metal materials, office equipment, and electronic products [1] Business Scope - The company’s business activities include the sale of packaging materials and products, manufacturing of paper products, and sales of various metal materials [1] - It also engages in the wholesale and retail of daily necessities, stationery, and electronic components [1] - Additional activities include domestic trade agency services, computer hardware and software sales, and sales of mechanical equipment [1]

Core Insights - Jinhua Shanyi Packaging Co., Ltd. has been established with a registered capital of 200,000 RMB [1] - The company is engaged in various business activities including packaging services, manufacturing and sales of plastic and paper products, and internet sales [1] Company Overview - The legal representative of the company is Peng Qian [1] - The business scope includes general projects such as packaging services, plastic products manufacturing and sales, and food-grade plastic packaging container sales [1] - Additional activities include the sale of building decoration materials, lightweight building materials manufacturing and sales, and technology import and export [1]

Group 1 - The U.S. Department of Commerce made a final ruling on anti-dumping and countervailing investigations against Chinese molded pulp products, with the law firm Dentons representing the top two exporters, achieving the lowest national tax rates [2] - The countervailing tax rate for the client was set at 7.56%, significantly lower than the industry average of 62.66% and the punitive rate of 319.92% [2] - The combined anti-dumping and countervailing tax rate for the client is approximately 1/8 of the main competitor's rate and 1/14 of the punitive rate [2] Group 2 - In a similar investigation regarding Vietnamese molded pulp products, only two companies received a combined tax rate of 6.44%, while other Vietnamese companies faced rates between 217.33% and 412.97% [3] - The Dentons team also represented the largest Chinese exporter of paper plates to the U.S., achieving a preliminary anti-dumping tax rate of 0% [8] - The firm has filed an administrative lawsuit against the U.S. Department of Commerce's adverse facts rule, successfully obtaining a court order to stop the imposition of anti-dumping duties on their client's paper plate exports [8] Group 3 - The investigation into the anti-dumping and countervailing duties on Chinese molded pulp products has now entered the stage of investigating industry damage, with the Dentons team closely monitoring the proceedings [8]

Economic Indicators - The ISM Services PMI fell from 52 in August to 50 in September, indicating stagnation in service sector expansion, below the market expectation of 51.7[2] - The Services PMI corresponds to an annualized GDP growth rate of 0.4%[2] - The Manufacturing PMI increased slightly from 48.7 in August to 49.1 in September, above the market expectation of 49, indicating a slowdown in contraction[2] Employment and Inflation - The employment index in the services sector rose from 46.5 to 47.2, showing a slower contraction[2] - The price index for services increased from 69.2 to 69.4, reflecting persistent inflationary pressures[2] - The number of initial unemployment claims decreased at the end of September compared to the beginning of the month, suggesting stability in the job market[1] Government Shutdown Impact - The government shutdown in October is expected to lead to 700,000 federal employees being furloughed, with an estimated GDP impact of 0.1-0.2 percentage points for each week of shutdown[1] - The Federal Reserve's October meeting may reference September data, with a 96.2% market expectation for no rate cut in October due to improved employment data and high inflation[1] Future Projections - The Federal Reserve is likely to pause rate cuts in October but may consider a rate cut in December as economic slowdown continues[1]

Group 1 - A new company named Xingtang Qisheng Paper Products Co., Ltd. has been established with a registered capital of 50,000 RMB [1] - The legal representative of the company is Liu Baolin [1] - The business scope includes manufacturing and sales of paper products, rubber products, glass, metal materials, and various packaging materials [1] Group 2 - The company is also involved in the manufacturing and sales of daily wooden products and hardware products [1] - Additional services offered include rental of construction machinery and equipment, corporate image planning, consulting services, and exhibition services [1] - The company operates under a general project framework, allowing it to conduct business activities autonomously with its business license [1]

Group 1 - The industrial producer price index in Estonia decreased by 1.6% year-on-year in August 2025, marking the third consecutive month of decline [1] - Energy production prices, including electricity, fell by 18.3% year-on-year, while manufacturing production prices saw a slight decrease of 0.1% [1] - Mining production prices increased by 2.7% year-on-year [1] Group 2 - In the manufacturing sector, food production prices rose by 3.7% year-on-year, clothing production prices increased by 4.2%, and wood and wood products processing prices went up by 4.7% [1] - Conversely, prices for coke and petroleum products dropped by 19.3%, and prices for machinery repair and installation decreased by 2.6% [1] - Paper product prices experienced a year-on-year decline of 11.3% [1] Group 3 - The export price index in Estonia fell by 0.4% year-on-year in August, while the import price index decreased by 1.1% [2]

Core Viewpoint - Recently, Zhongshan Rongpei Technology Co., Ltd. was established with a registered capital of 2 million RMB, indicating a focus on technology services and various product sales in the cosmetics and packaging sectors [1] Group 1: Company Overview - Zhongshan Rongpei Technology Co., Ltd. has a registered capital of 2 million RMB [1] - The company’s business scope includes technology services, development, consulting, and transfer, as well as wholesale and retail of cosmetics [1] Group 2: Business Activities - The company is involved in the sale of packaging materials and products, manufacturing and sales of plastic products, and paper products [1] - It also engages in internet sales (excluding items requiring special licenses) and non-residential real estate leasing [1] Group 3: Import and Export - Zhongshan Rongpei Technology Co., Ltd. is authorized for goods import and export, as well as technology import and export [1]