Economic Overview - Dongguan's economy showed stable performance in the first four months of 2025, with industrial production and foreign trade demonstrating strong results [1][2] - The industrial added value for Dongguan's large-scale industries increased by 6.4% year-on-year [1] - New momentum industries, including advanced manufacturing and high-tech manufacturing, saw added value growth of 9.0% and 10.3% respectively [2] Industrial Performance - In April, the industrial added value for Dongguan's large-scale industries grew by 6.3% year-on-year [1] - Key industries such as electronic information manufacturing, electrical machinery and equipment manufacturing, chemical manufacturing, and packaging printing experienced significant growth, with increases of 10.1%, 10.8%, 13.2%, and 6.6% respectively [1] Foreign Trade - Dongguan's total foreign trade import and export value reached 4863.5 billion yuan in the first four months, marking a year-on-year increase of 19.4% [2] - Imports totaled 1947.5 billion yuan, up 32.6%, while exports were 2916.0 billion yuan, increasing by 11.9% [2] - In April, the total foreign trade value grew by 14.7% year-on-year [2] Investment Trends - Fixed asset investment in Dongguan decreased by 14.0% year-on-year in the first four months, indicating pressure on investment [2] - Infrastructure investment rose by 8.6%, while industrial investment fell by 3.2%, with the decline narrowing by 4.7 percentage points compared to the first quarter [2] - Real estate development investment saw a significant decline of 36.6% [2] - The structure of investment continued to optimize, with industrial investment accounting for 54.6% of the total, an increase of 6.0 percentage points year-on-year [2] Consumer Market - The consumer market in Dongguan showed signs of recovery, with total retail sales of consumer goods reaching 1496.87 billion yuan, a year-on-year increase of 4.0% [3] - Dining revenue grew by 2.2%, while retail sales of goods increased by 4.3% [3] - Online consumption was notably active, with retail sales through public networks increasing by 35.2% year-on-year [3] - In April, the total retail sales of consumer goods rose by 8.5% year-on-year [3]

Economic Overview - Dongguan's economy showed overall stability in the first four months of 2025, adhering to a principle of seeking progress while maintaining stability and promoting high-quality development [2] Industrial Production - The industrial added value of enterprises above designated size increased by 6.4% year-on-year in the first four months. Key industries such as electronic information manufacturing, electrical machinery and equipment manufacturing, chemical manufacturing, and packaging and printing saw increases of 10.1%, 10.8%, 13.2%, and 6.6% respectively [3] - New momentum industries performed well, with advanced manufacturing and high-tech manufacturing increasing by 9.0% and 10.3% year-on-year respectively. High-tech product output growth was significant, with servers, sensors, integrated circuits, and smartwatches increasing by 292.6%, 79.1%, 75.3%, and 28.6% respectively [3] Foreign Trade - The total foreign trade import and export volume reached 486.35 billion yuan, a year-on-year increase of 19.4%. Imports were 194.75 billion yuan, up 32.6%, while exports were 291.6 billion yuan, up 11.9% [4] Consumer Market - The total retail sales of social consumer goods amounted to 149.687 billion yuan, growing by 4.0% year-on-year. Notable growth was seen in furniture (113.6%), communication equipment (75.3%), building materials (38.2%), and cultural office supplies (22.8%) [5] - Online consumption was active, with retail sales through public networks increasing by 35.2% year-on-year [5] Fixed Asset Investment - Total fixed asset investment decreased by 14.0% year-on-year. Infrastructure investment grew by 8.6%, while industrial investment fell by 3.2% and real estate development investment dropped by 36.6% [6] - The structure of investment continued to optimize, with industrial investment accounting for 54.6% of the total, an increase of 6.0 percentage points year-on-year [6] Fiscal and Financial Performance - General public budget revenue reached 29.072 billion yuan, a year-on-year increase of 3.1%, while expenditure was 34.906 billion yuan, up 0.1% [7] - By the end of April, the balance of deposits in financial institutions was 2.853728 trillion yuan, growing by 6.6% year-on-year, with household deposits increasing by 11.7% [7] Consumer Price Index - The Consumer Price Index (CPI) decreased by 1.0% year-on-year, with a trend of "seven declines and one increase" across eight categories of goods and services [8] - In April, the CPI fell by 1.1% year-on-year [8]

Core Viewpoint - The company, Anhui Jiyou New Materials Co., Ltd., is facing significant challenges in its traditional cigarette packaging printing business, leading to a strategic shift towards social packaging printing and the decision to permanently supplement working capital with remaining funds from terminated projects [4][10][41]. Group 1: Company Overview - Anhui Jiyou New Materials Co., Ltd. operates primarily in the packaging printing industry, which is a crucial sector in the national economy, serving various fields such as food and beverage, daily chemicals, electronics, tobacco, pharmaceuticals, and clothing [6]. - The company has reported a revenue of 457,976,137.09 yuan for the reporting period, a decrease of 30.87% year-on-year, and a net profit attributable to shareholders of -72,458,096.46 yuan, down 162.10% year-on-year [11]. Group 2: Financial Performance - The printing and recording media copying industry achieved a revenue of 6,714.8 billion yuan in 2024, with a year-on-year growth of 2.4%, while the total profit decreased by 10.4% [6]. - The company’s total assets as of December 31, 2024, amounted to 1,399,346,894.50 yuan [11]. Group 3: Strategic Decisions - The board of directors has proposed not to distribute profits or increase capital reserves for the 2024 fiscal year, reflecting a cautious approach amid declining business performance [4][5]. - The company plans to utilize the remaining funds of 240,837,646.58 yuan from a terminated project to enhance liquidity and operational capacity, following a strategic review of its business needs [41][42]. Group 4: Market Challenges - The company anticipates a significant decline in its traditional cigarette packaging business due to macroeconomic factors and reduced bidding success in recent years [7][10]. - To address these challenges, the company is optimizing its workforce and exploring new markets and products in the social packaging printing sector [10][11]. Group 5: Governance and Compliance - The company’s board and supervisory board have confirmed the accuracy and completeness of the annual report, ensuring compliance with legal and regulatory requirements [3][12]. - The decision to reallocate remaining funds from terminated projects has undergone necessary approvals from the board and supervisory board, with independent directors supporting the move [43][44].