Group 1 - The company has changed its stock abbreviation from "杰克股份" to "杰克科技" while maintaining the stock code "603337" [1][2] - The abbreviation change will take effect on September 10, 2025 [1][2] - The reason for the abbreviation change is to align with the company's strategic transformation towards digitalization and intelligent manufacturing, integrating advanced technologies such as AI [1][2] Group 2 - The company has successfully transitioned from a traditional sewing equipment manufacturer to a provider of comprehensive intelligent manufacturing solutions, including software systems and smart warehousing [1][2] - The company plans to launch a high-end AI sewing machine in the second half of 2025, aiming to create a new category in the sewing machine industry and significantly enhance production efficiency [1]

Core Viewpoint - The company will change its stock name from "Jack Shares" to "Jack Technology" on September 10, 2025, while maintaining the stock code "603337" to better reflect its development strategy and business layout [1] Company Transformation - The company has transitioned from being a single sewing equipment manufacturer to a provider of intelligent manufacturing software systems and services [1] - The company plans to launch high-end intelligent products, including a high-end AI sewing machine scheduled for release in the second half of 2025 [1]

Core Viewpoint - The company received an inquiry letter from the Shanghai Stock Exchange regarding its 2024 annual report, prompting a detailed response addressing various investment and financial disclosure issues [1]. Group 1: Long-term Equity Investments - The company's long-term equity investment balance at the end of the reporting period was CNY 397 million, a year-on-year decrease of 15.89%, with an impairment provision of CNY 14.12 million [1]. - The long-term equity investments included CNY 324 million in Shanghai Feiren Technology Co., CNY 46.84 million in Shanghai Lingang Financing Leasing Co., and CNY 25.27 million in Shanghai Jizan Industrial Co. [1]. - The company recognized an investment loss of CNY 62.33 million for the reporting period, compared to CNY 127 million in the previous year, and an adjustment loss of CNY 12.61 million in other comprehensive income [1][2]. Group 2: Investment Project Details - The company was asked to provide detailed information on its investments in Feiren Technology, Lingang Financing, and Jizan Company, including investment background, amounts, and progress [2]. - Feiren Technology was established in November 2020, focusing on introducing overseas carbon fiber composite manufacturing technology to China [3]. - Lingang Financing was initially set up to provide financing through sale-leaseback arrangements but has since seen limited business volume [5]. - Jizan Company, established in April 2020, has invested in companies related to infrared thermal imaging and new energy vehicles [6]. Group 3: Investment Losses and Impairments - Jizan Company faced significant investment losses due to guarantees provided for bank loans that have since defaulted, leading to a complete halt in construction at its associated company, Taizhou Wanxiang [9]. - The company confirmed substantial investment losses in Jizan and Lingang Financing due to the involvement of a strategic investor in a criminal case, impacting their financial performance [8][9]. - The company did not recognize further impairment for long-term equity investments in 2024, as the recoverable amount of Jizan's equity was assessed to be higher than its book value [12]. Group 4: Logistics and Trade Business - The logistics business, primarily conducted through Shanghai Shensi Enterprise Development Co., generated revenues of CNY 1.165 billion, CNY 1.291 billion, and CNY 1.361 billion from 2022 to 2024, with a gross margin of around 8% [13]. - The trade business, managed by Shanghai Shenbei Import and Export Co., focuses on exporting office supplies, with revenues constituting only 0.59% of total revenue in 2024 [15]. - The company confirmed that both logistics and trade operations adhere to relevant accounting standards and do not lack commercial substance [16].