Group 1: Nutritional Functional Food Industry - The nutritional functional food industry in China is experiencing rapid growth, with a market size projected to reach 522.3 billion yuan in 2024 and 720.3 billion yuan by 2029, representing a CAGR of 6.6% from 2024 to 2029 [2][7] - The market for nutritional functional foods specifically is expected to grow from 233.1 billion yuan in 2024 to 349.9 billion yuan in 2029, with a CAGR of 8.5% [7][8] - The industry has established a complete supply chain, including upstream raw material suppliers, midstream manufacturers, and downstream distributors [8][9] - Key companies in the North Exchange related to this industry include Kangbiter, Wuxi Jinghai, and Hengmei Health, each occupying different positions in the supply chain [9] Group 2: PEEK Material Industry - The PEEK material market in China is projected to reach 1.455 billion yuan in 2024, with a year-on-year growth of 21.14% [11] - PEEK materials are widely used in critical components across automotive, electronics, and aerospace sectors, with automotive manufacturing accounting for 27% of global PEEK consumption [11] - The competitive landscape for global PEEK production is characterized by a few strong players, with the UK-based Victrex being the largest producer [11] Group 3: Electronic Industry - Kangguan Technology - Kangguan Technology reported a revenue of 6.935 billion yuan in the first half of 2025, a year-on-year increase of 5.06%, with a net profit of 384 million yuan, down 6.03% [16][17] - The company plans to distribute a cash dividend of 3.60 yuan per 10 shares, reflecting a dividend payout ratio exceeding 65% [16] - The growth in innovative display products is notable, with a revenue increase of 39.16% in the first half of 2025 [17] Group 4: Pharmaceutical Industry - Sanofi Pharmaceutical - Sanofi Pharmaceutical achieved a revenue of 4.355 billion yuan in the first half of 2025, a slight decline of 1.07%, while the net profit increased by 19.13% to 1.358 billion yuan [20][21] - The company’s overseas revenue grew by 70%, with a presence in over 35 countries [21][22] - The company has a rich pipeline of clinical trials, with significant potential for future growth [22][23] Group 5: New Consumption - Chaohongji - Chaohongji has submitted an application for H-share listing, which is expected to enhance its global strategy and brand image [24][25] - The company has expanded its international presence by opening stores in Malaysia, Thailand, and Cambodia, with two stores in Cambodia as of the first half of 2025 [24][25] - The brand is focusing on younger consumers, with a significant portion of its customer base being from the post-80s to post-00s generation [26]

Core Viewpoint - Longli Technology (300752.SZ) has clarified that its products are not currently used in the panoramic drone products of YingShi, which is one of its end customers. However, the company's display products are already applied in YingShi's sports camera products [1] Group 1 - Longli Technology's products are not integrated into YingShi's panoramic drone offerings [1] - YingShi is identified as an end customer of Longli Technology [1] - Longli Technology's display products are utilized in YingShi's sports camera products [1]

Core Viewpoint - Tianshan Electronics demonstrates strong performance in the professional display sector, with significant revenue and profit growth in 2024, largely unaffected by external factors such as the U.S. market [1][2]. Financial Performance - The total operating revenue for Tianshan Electronics reached 1.477 billion yuan, representing a year-on-year increase of 16.54% [1]. - The net profit attributable to shareholders was 150 million yuan, showing a year-on-year growth of 39.97% [1]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was 130 million yuan, reflecting a year-on-year increase of 44.13% [1]. Strategic Development - The company has successfully implemented a multi-dimensional strategic layout, particularly in the electric vehicle sector, leading to rapid growth in orders for automotive electronic products [2]. - Tianshan Electronics provides one-stop professional display product solutions across various applications, including industrial control, automation, communication equipment, and smart home sectors [2]. - The company has enhanced customer loyalty and driven significant sales growth by extending its industrial chain and deeply exploring customer needs [2]. Innovation and R&D - Continuous investment in new product development, process upgrades, and innovation has effectively reduced costs and significantly improved operational efficiency [2]. - Tianshan Electronics is recognized as a national high-tech enterprise with comprehensive supply capabilities in the professional display field [2]. Customer Base and Market Reach - The company has a wide customer base across multiple industries, including smart home, smart finance data terminals, communication equipment, industrial control, energy, healthcare, automotive electronics, and consumer electronics [2]. - Tianshan Electronics has established long-term stable partnerships with numerous well-known enterprises, with products exported to Europe, America, Japan, South Korea, India, and other regions, enhancing its brand influence [2].