Core Points - The company held its 29th meeting of the 3rd Board of Directors on September 22, 2025, where two significant financial management proposals were approved [1] - The first proposal allows the company to use up to 150 million yuan of temporarily idle raised funds for cash management, focusing on high-security, liquid financial products with capital protection agreements [1] - The second proposal permits the company to utilize up to 900 million yuan of idle self-owned funds to purchase similar financial products, also with a maximum duration of 12 months for each product [1] Proposal Details - The cash management period for the first proposal is valid for 12 months from the date of board approval, with individual financial products having a maximum term of 12 months [1] - The management team is authorized to make investment decisions and sign relevant contracts for both proposals, with the authorization period also set for 12 months from board approval [1] - Both proposals were accompanied by verification opinions from the sponsoring institution, ensuring compliance and oversight [2]

Group 1 - The company Xinju Feng (SZ 301296) announced on September 22, 2025, that its 29th meeting of the third board of directors was held, where it reviewed the proposal for using part of the idle raised funds for cash management [1] - For the first half of 2025, Xinju Feng's revenue composition was 97.3% from sterile packaging and 2.7% from other businesses [1] - As of the report date, Xinju Feng's market capitalization was 3.8 billion yuan [1] Group 2 - A national large-scale procurement has drawn significant attention from the industry due to low bidding prices, leading to requirements for bidding companies to provide clear explanations [1]

Group 1 - The company, New Jufeng, announced on September 22, 2025, that its board approved a proposal to use up to 900 million RMB of idle funds to purchase high-security, liquid financial products, with a maximum single product term of 12 months [1] - As of January to June 2025, New Jufeng's revenue composition was 97.3% from sterile packaging and 2.7% from other businesses [1] - The company's market capitalization is currently 3.8 billion RMB [2]

Core Viewpoint - The company reported significant growth in its packaging and printing business in the first half of the year, while the cosmetics segment's revenue share did not increase further, and gross margins remained stable [1] Group 1: Business Performance - The packaging and printing business experienced substantial year-on-year revenue growth [1] - The cosmetics business's contribution to total revenue did not see further improvement [1] - Gross margin levels were maintained without significant fluctuations [1] Group 2: Strategic Initiatives - The company is enhancing its cosmetics OEM business by executing a defined business development strategy and focusing on building strategic partnerships with key clients, particularly ODM customers [1] - A rolling forecast system and real-time order shipment monitoring system were established to improve business precision and service quality [1] Group 3: Product Development - The company has identified key product development strategies based on market research and competitive analysis, focusing on skincare, wax-based, and powder categories [1] - New flagship products such as water light cream, multi-use potato mud cream, and blush cream were successfully developed [1] Group 4: Operational Strategy - The company's main operational focus is on the principles of "increasing revenue" and "cost-saving" to achieve continuous business expansion and profit improvement [1]

Market Performance - The packaging and printing sector increased by 0.52% on September 22, with Hai Shun New Materials leading the gains [1] - The Shanghai Composite Index closed at 3828.58, up 0.22%, while the Shenzhen Component Index closed at 13157.97, up 0.67% [1] Top Gainers - Hai Shun New Materials (300501) closed at 18.09, up 10.37% with a trading volume of 161,500 shares and a turnover of 284 million yuan [1] - Ji You Co., Ltd. (603429) closed at 12.93, up 10.04% with a trading volume of 203,200 shares and a turnover of 252 million yuan [1] - Da Sheng Da (603687) closed at 9.45, up 4.42% with a trading volume of 297,300 shares and a turnover of 277 million yuan [1] Market Capital Flow - The packaging and printing sector experienced a net outflow of 92.57 million yuan from institutional investors, while retail investors saw a net outflow of 37.41 million yuan [2] - Speculative funds had a net inflow of 130 million yuan into the sector [2] Individual Stock Capital Flow - Ji You Co., Ltd. (603429) had a net inflow of 59.92 million yuan from institutional investors, while retail investors experienced a net outflow of 33.44 million yuan [3] - Mei Ying Sen (002303) saw a net inflow of 39.87 million yuan from institutional investors and a net outflow of 98.22 million yuan from retail investors [3] - Da Sheng Da (603687) had a net inflow of 29.47 million yuan from institutional investors, with retail investors experiencing a net outflow of 22.36 million yuan [3]

Core Viewpoint - The event "2025 Shanghai Listed Companies Collective Reception Day and Mid-Year Performance Briefing" highlighted the effective cost control measures implemented by Baosteel Packaging (601968) during the first half of the year [1] Group 1: Financial Performance - In the first half of the year, Baosteel Packaging achieved a reduction in sales expenses by 26.20%, management expenses by 4.52%, and financial expenses by 6.49% [1] Group 2: Operational Strategies - The company has integrated meticulous cost management into all operational aspects, emphasizing comprehensive benchmarking and optimization [1] - Baosteel Packaging has adopted a principle of rapid response to customer needs through dynamic inventory management and JIT supply chain collaboration, leading to decreased costs and improved overall efficiency [1]

Company Overview - Company name: Xiamen Hexing Packaging Printing Co., Ltd. - Established on May 17, 1993, and listed on May 8, 2008 - Main business involves R&D, design, production, sales, and service of mid-to-high-end corrugated cartons, with revenue composition: corrugated packaging 88.38%, color box packaging 4.50%, others 3.24%, industrial paper 2.80%, cushioning packaging 1.08% [1] Financial Performance - For the first half of 2025, the company achieved operating revenue of 5.148 billion yuan, a year-on-year decrease of 9.52% - The net profit attributable to shareholders was 115 million yuan, a year-on-year increase of 30.87% [2] Stock Performance - As of September 22, the stock price decreased by 2.11% to 3.25 yuan per share, with a total market value of 3.944 billion yuan - Year-to-date stock price increased by 14.88%, with recent declines of 3.56% over the last 5 trading days, 5.25% over the last 20 days, and 3.25% over the last 60 days [1] Shareholder Information - As of June 30, the number of shareholders was 24,300, a decrease of 4.77% from the previous period - Average circulating shares per person increased by 5.01% to 49,086 shares [2] Dividend Distribution - Cumulative cash distribution since the A-share listing amounts to 1.294 billion yuan, with 488 million yuan distributed over the last three years [3] Institutional Holdings - As of June 30, 2025, the top ten circulating shareholders saw the exit of the fund "Zhaoshang Quantitative Selected Stock Initiation A" from the list [3]

Group 1 - Global Printing announced that shareholder Hong Kong Yuanshi International Co., Ltd. plans to reduce its stake by up to 3.2004 million shares, accounting for 1% of the total share capital, due to personal funding needs [1] - Sunflower intends to acquire 100% equity of Xi Pu Materials and 40% equity of Zhejiang Beid Pharmaceutical through a combination of share issuance and cash payment, with stock resuming trading on September 22, 2025 [1][2] - Crown Zhong Ecology is planning a change in control, leading to a temporary suspension of its stock and convertible bonds due to significant uncertainties [2] Group 2 - China Oil Engineering's wholly-owned subsidiary signed a $513 million EPC contract for an LNG pipeline project in the UAE, covering approximately 180.5 kilometers of natural gas pipeline with a 36-month construction period [3] - Shanxi Fenjiu announced that shareholder Huachuang Xinrui (Hong Kong) Co., Ltd. plans to reduce its stake by up to 16.2006 million shares, representing no more than 1.33% of the total share capital [4] - Brother Technology's subsidiary received a drug registration certificate for Iopamidol injection, which is included in the national medical insurance catalog [5] Group 3 - Lin Yang Energy is expected to win a bid for a metering equipment project from the State Grid, with an estimated total bid amount of approximately 142 million yuan [6] - Huahai Chengke received approval from the China Securities Regulatory Commission for issuing shares and convertible bonds to purchase assets and raise no more than 800 million yuan in matching funds [8] - Jindi Co. signed a framework agreement to acquire controlling interest in Unico Precision, which specializes in manufacturing gears and automotive parts [10] Group 4 - Ruifeng High Materials announced that its major shareholder plans to reduce its stake by up to 2.4 million shares, accounting for 0.9584% of the total share capital [12] - Changliang Technology's director plans to reduce his stake by 1.05 million shares, representing 0.129% of the total share capital [14] - Zhongjing Food's director plans to reduce his stake by up to 150,000 shares, accounting for 0.10% of the total share capital [16] Group 5 - Haitai Technology announced that two shareholders plan to reduce their stakes by a total of up to 2.53% of the total share capital [18] - Zhenlei Technology's chairman is under detention but the company states that control has not changed and operations remain normal [20] - Huakang Co. plans to distribute a cash dividend of 0.2 yuan per share, totaling approximately 60.61 million yuan [19]

Core Viewpoint - The company, Jia Mei Food Packaging (Chuzhou) Co., Ltd., announced an adjustment to the upper limit of the share repurchase price on September 19, 2025, following a series of board meetings and shareholder approvals for a share repurchase plan [1][2]. Summary by Sections Share Repurchase Overview - On October 29, 2024, the company held its 11th meeting of the 3rd Board of Directors and approved a share repurchase plan on November 15, 2024. The plan involves using self-owned funds or special loans to repurchase A-shares, with a total repurchase fund of no less than 75 million yuan (inclusive) and no more than 150 million yuan (inclusive), at a maximum price of 4.40 yuan per share, within a 12-month period from the approval date [2]. Dividend Distribution - On September 15, 2025, the company approved a cash dividend distribution of 0.20 yuan (inclusive of tax) for every 10 shares, with no stock dividends or capital reserve transfers. The total cash dividend distributed amounted to 18,967,410.16 yuan (inclusive of tax), corresponding to a participating share capital of 948,370,508 shares. The cash dividend per share after the distribution is calculated at 0.0198517 yuan (inclusive of tax) [3]. Adjustment of Repurchase Price Limit - The company adjusted the upper limit of the share repurchase price from 4.39 yuan per share (inclusive) to 4.37 yuan per share (inclusive) due to the occurrence of a dividend distribution. This adjustment takes effect on September 26, 2025. Based on the adjusted repurchase amount limits and price, the estimated repurchase quantity ranges from approximately 17,162,471 shares to 34,324,942 shares, representing about 1.80% to 3.59% of the total share capital [4]. Information Disclosure Commitment - The company commits to timely information disclosure regarding the progress of the share repurchase and reminds investors to pay attention to investment risks [5].

Core Viewpoint - Jiyou Co., Ltd. plans to reduce its holdings by up to 10.48 million shares (2% of total share capital) through centralized bidding, as part of its 2024 share repurchase plans, which have already achieved significant profits [1][4][11]. Summary by Sections Share Repurchase and Reduction - The company announced a plan to reduce its holdings from October 20, 2025, to April 19, 2026, with the aim of fulfilling the purposes outlined in the repurchase report [4]. - The reduction is part of the shares repurchased in 2024, which totaled 6.04% of the company's shares [5][11]. Repurchase Details - The first repurchase plan was initiated on February 6, 2024, acquiring 18.6 million shares (3.55% of total shares) for a total of 100.65 million yuan, with an average repurchase price of 5.41 yuan per share [4][5]. - The second repurchase plan was announced on June 7, 2024, acquiring 13.09 million shares (2.5% of total shares) for 50.17 million yuan, with an average price of 3.83 yuan per share [5]. Financial Performance and Market Impact - The repurchase operations were executed during market downturns, effectively timing the buybacks at significant lows, leading to substantial gains [5][6]. - The overall floating profit from the repurchased shares reached approximately 220 million yuan, with a combined floating profit of 147% [6][11]. - Despite the strong stock performance post-repurchase, the company faced its first loss since its listing in 2024, reporting a net profit of -72.46 million yuan [10][11]. Future Outlook - The company still holds 4.04% of its shares in the repurchase account, which will be sold within three years following the disclosure of the repurchase results [11]. - The company is currently under performance pressure, with a 63.38% year-on-year decline in revenue for the first half of 2025, amounting to 10.4 million yuan [10].