证券日报网12月11日讯东港股份（002117）在12月10日回答调研者提问时表示，公司具备制作数字人民 币钱包(卡)的能力，也已经研发了该类产品，正在做相关的产品资质认证。待获得有关资质后，将根据 客户和市场需求开展销售工作。 ...

Earnings per share of $0.51 missed the estimated $0.60, and revenue of approximately $732.4 million also fell short of the anticipated $743.3 million.For the fiscal year 2025, revenues reached $2.74 billion, with operating earnings at $264.1 million and net earnings attributable to shareholders totaling $171 million, or $2.04 per share.Financial ratios such as the price-to-earnings (P/E) ratio of approximately 11.17 and the debt-to-equity ratio of about 0.44 provide insight into TCLAF's market valuation and ...

Summary of Cimpress Conference Call Company Overview - **Company**: Cimpress (NasdaqGS:CMPR) - **Industry**: Custom print and promotional products - **Market Size**: Approximately $100 billion in North America, Europe, and Australia [9] Key Points and Arguments Business Model and Market Position - Cimpress specializes in web-to-print mass customization, allowing for the delivery of custom products in small quantities with the reliability and affordability of mass production [8] - The company has generated $2.3 billion of unlevered free cash flow and over $1.5 billion of adjusted free cash flow in the last 10 years [8] - The company has a diverse product range, including legacy products like business cards and newer categories such as paper bags, corrugated boxes, and flexible packaging [9][10] Financial Performance and Guidance - For fiscal 2026, Cimpress has guided revenue growth of 5-6% and organic constant currency growth of 2-3% [13] - Adjusted EBITDA is projected to be $450 million, with operating cash flow of $310 million and adjusted free cash flow of about $140 million [13] - The company expects to achieve $70 million-$80 million of annual EBITDA improvement by FY2028, with adjusted EBITDA projected to reach at least $600 million [15][16] Capital Expenditures and Investments - Cimpress plans to invest approximately $100 million in capital expenditures this year, focusing on new equipment and optimizing manufacturing locations [14] - Maintenance-oriented CapEx is about 1.5% of revenue, while total CapEx is expected to be around 3% of revenue [14] AI and Technological Integration - AI is seen as a significant opportunity for optimization across various business functions, including software engineering and customer service [19][20] - The company is exploring AI's potential in design, which could democratize design access and increase demand for physical products [21] Customer Dynamics and Revenue Growth - Revenue growth is driven by wallet share gains from higher-value customers, with a focus on retaining existing customers and attracting new ones [22][23] - The company believes there is a long-term relevance for physical products despite some legacy products experiencing decline [32] Tariffs and Cost Management - Cimpress has managed to limit tariff impacts to less than $500,000 in the recent quarter through supply chain adjustments [26] - The company anticipates generating about $16 million in cost savings this year, with a total of $70-$80 million expected across the P&L [28] Capital Allocation and Future Outlook - Cimpress is open to small tuck-in acquisitions to enhance product offerings and technology but does not foresee major shifts in its financial strategy [25] - The company aims to reduce net leverage to below two times trailing 12-month EBITDA by the end of FY2028 [18] Taxation - Cimpress is a cash taxpayer, with guidance for cash taxes in the range of $55 million-$60 million for the current year [35] Additional Important Insights - The company has experienced upgrades from rating agencies, currently holding credit ratings of BB- and Ba3 [13] - Cimpress acknowledges the volatility in the market and has built in downside risk factors into its guidance [27] - The company is focused on customer satisfaction and maintaining strong reviews to drive revenue growth [22]