（编辑 王雪儿） 证券日报网讯 捷荣技术10月10日在互动平台回答投资者提问时表示，公司高度重视市值管理工作。 2025年公司持续进行产品结构和客户结构的调整，在原有3C行业的智能手机、无人机、平板电脑、智 能家居、智能穿戴等业务的基础上，积极探索3C行业以外的精密结构件业务。同时，公司密切关注国 内外的产业环境和行业趋势，持续优化内部管理体系，降本增效，不断改善经营业绩，努力实现公司价 值与股东利益的协同增长。 ...

随着我国城镇化进程加快与"消费品以旧换新"政策推进，两类现实需求愈发凸显：一边是超3亿新市民 在融入城市时，面临的大额支出压力，"想消费却怕花钱"成为普遍困境；另一边是家电、3C等行业企 业在承接国补政策红利时，被"垫资规模大、结算周期长"的难题卡住，明明市场需求旺盛，却因资金周 转慢不敢接订单。如何用更灵活的金融服务打通民生需求与产业供给的"堵点"，成为当下亟待解决的课 题。 日前，南方都市报社、湾财社携手中国人民大学中国普惠金融研究院，共同启动"中国普惠金融行"专题 系列报道，呈现鲜活生动的普惠金融服务案例、模式，探索数字时代普惠金融创新路径，栏目本期聚焦 京东金融。 9月25日，在2025京东供应链金融科技大会上，京东科技发布了"三个融合"发展路径——消费与产业融 合、创新与场景融合、内循环与外循环融合。作为深耕零售与供应链领域多年的企业，京东既熟悉新市 民在生活场景中的真实消费痛点，也清楚产业链上下游企业在资金周转中的实际困境。依托京东科技的 技术能力与京东金融的场景运营经验，其近期在消费端与产业端的一系列实践，正逐步展现金融科技服 务民生、赋能实体的具体路径。 社交平台上，你可能会刷到这样的视频：夜 ...

Core Viewpoint - The legal dispute between Shenzhen Zhuoyue Technology Co., Ltd. and Jiangmen Roma Technology Co., Ltd. has raised concerns in the 3C industry supply chain, with a total claim amounting to 136 million yuan due to unpaid debts and contract breaches [1][2]. Group 1: Company Specifics - Shenzhen Zhuoyue Zhizao, a wholly-owned subsidiary of Zhuoyue Technology, has filed a lawsuit against Jiangmen Roma and five other companies for a total of 136 million yuan, which includes unpaid product payments and associated losses [1][2]. - Roma Technology has faced significant operational challenges, including a recall of 491,700 defective products and a six-month production halt due to safety issues, leading to a drastic drop in sales and monthly revenue losses exceeding 100 million yuan [2]. - Zhuoyue Technology has reported cumulative losses exceeding 1.5 billion yuan from 2020 to 2024, with unrecouped losses of 1.4 billion yuan in 2024, exacerbated by the 136 million yuan owed by Roma [2]. Group 2: Industry Implications - The crisis highlights the critical importance of product safety for brand owners, as Roma's quality issues have triggered a chain reaction affecting the entire supply chain [5]. - Suppliers are urged to establish customer credit assessment mechanisms to avoid over-reliance on a single client, emphasizing the need for risk-sharing mechanisms within the supply chain to mitigate losses during unforeseen events [5]. - The financial impact on listed company Chuangyitong, which has also been affected by Roma's unpaid debts, includes a credit impairment loss of 7.86 million yuan and inventory write-downs totaling 3.15 million yuan, significantly affecting its profitability [3][4].

Core Viewpoint - Shenzhen Zhuoyue Technology Co., Ltd. is facing a lawsuit involving its subsidiary Zhuoyue Intelligent Manufacturing Co., Ltd. against Jiangmen Roma Technology Co., Ltd. and five other companies over a contract dispute, with the total amount in question reaching 136 million yuan [2][3]. Group 1: Legal and Financial Implications - Zhuoyue Intelligent Manufacturing is claiming 80.08 million yuan in unpaid product payments and additional losses totaling 55.36 million yuan, including various fees and costs related to the contract [3]. - The lawsuit involves six related companies that are liable for the debts of Jiangmen Roma, with the total claim amounting to 136 million yuan [3]. - The financial strain on Zhuoyue is exacerbated by its cumulative losses exceeding 1.5 billion yuan from 2020 to 2024, with unrecouped losses of 1.4 billion yuan in 2024 alone [4]. Group 2: Industry Impact and Brand Crisis - Roma Technology has faced a significant brand crisis since June 2025 due to multiple incidents of power bank fires, leading to a drastic drop in sales and a monthly revenue loss exceeding 100 million yuan [4]. - The crisis has resulted in Roma recalling 491,700 defective products, causing further disruptions in e-commerce and aviation sectors, ultimately leading to a six-month production halt [4]. - Other companies, such as Chuangyitong, are also affected by Roma's failure to pay, with reported receivables exceeding 15.63 million yuan, which has led to credit impairment losses and inventory write-downs [6][7]. Group 3: Industry Lessons and Risk Management - The case highlights two critical issues in the 3C industry: the necessity for product safety and the importance of establishing customer credit assessment mechanisms to avoid over-reliance on single clients [8]. - There is a growing consensus in the industry on the need for a risk-sharing mechanism across the supply chain to mitigate losses during unforeseen events [8].

Group 1 - The "China Online Consumption Brand Index" (CBI) was launched at the service trade fair, indicating a growing trend among consumers towards high-quality products and brand-name goods [1][2] - The CBI index increased from 59.42 in Q1 2023 to 65.21 in 2025, reflecting an average brand score increase of approximately 5 points in the national consumption basket [1] - The highest CBI indices are found in the 3C and home appliance sectors, showing consumers' increasing preference for high-scoring brands in these categories [1] Group 2 - The fastest growth in CBI indices is observed in the pet and jewelry sectors, indicating a rising consumer focus on quality and brand when purchasing these products [1] - Despite discussions around the rise of "white-label" products, the overall CBI trend suggests that brand consumption is still expanding [1] - Companies face strategic dilemmas between "low-cost customer acquisition" and "value innovation," and the index serves as a reference for enhancing brand value rather than engaging in price competition [1] Group 3 - Emotional consumption has become a significant characteristic of the market, with new brands not only meeting practical needs but also embodying emotional value [1] - Innovations that integrate practicality and emotional value in specific scenarios can effectively stimulate consumer willingness to spend [1] - The CBI is developed collaboratively by Peking University's National School of Development, the Digital Finance Research Center, and Sun Yat-sen University's Business School, with data support from Taotian Group [2]

Financial News - Dongguan Rural Commercial Bank reported a net profit decline of 22.22% year-on-year, with total revenue of RMB 5.501 billion, down 14.02% [2] - The bank's total assets increased to RMB 760.445 billion, a growth of 1.95%, with total deposits at RMB 532.364 billion, up 2.33% [2] Company Dynamics - Jie Rong Technology's losses expanded to RMB 197 million, despite a revenue increase of 46% to RMB 812 million [3] - Macro Technology's revenue fell by 19.32% to RMB 775 million, with net profit down 15.7% to RMB 53.56 million [4] - Huilun Crystal reported a loss of RMB 66.58 million, a staggering decline of 2679.4%, with revenue at RMB 267 million, down 7.1% [5] - Urban People saw a revenue drop to RMB 1.436 billion, down from RMB 1.514 billion, with a net profit decrease of approximately 30% [6] - Yian Technology plans to invest in a wholly-owned subsidiary in Mexico with a total investment of USD 50 million [7] - Yutong Optical intends to invest JPY 30 million to establish a wholly-owned subsidiary in Japan, focusing on optical product development and sales [8]

Core Insights - On August 29, during the Qixi Festival, Meituan's non-food instant retail order volume reached a record high of 27 million, driven by gift demand from the "Flash Purchase Gifts" campaign [1] - The overall gift consumption scale for Meituan's flash purchase service also hit a new peak, with flower sales breaking records and categories like digital electronics, beauty products, and jewelry seeing sales double [1] - Consumer spending per capita on categories such as home appliances and beauty products significantly increased compared to last year's Qixi Festival [1] Group 1 - The trend of gift-giving is diversifying and becoming more quality-oriented, moving from traditional gifts like flowers and chocolates to a broader range of products, leading to substantial sales growth in high-priced categories [1] - Instant retail is becoming an important growth driver for major brands and retailers, with over 500 beauty, electronics, fast-moving consumer goods, and liquor brands experiencing multiple-fold sales growth on the platform [1] - The dual increase in order volume and average transaction value indicates a robust market response to the evolving gift-giving landscape [1]

Core Insights - Meituan Flash Purchase reported a 50% increase in order volume compared to the same period last year on Qixi Festival, indicating a significant rise in gifting consumption [1] - The trend of "Flash Purchase Gifting Everything" reflects a diversification and quality-oriented approach in consumer preferences, leading to record sales in various categories [1] - Notable sales growth was observed in flowers, digital products, beauty and skincare, and jewelry, with average spending in categories like 3C appliances and beauty significantly higher than last year [1] Industry Impact - Over 500 brands and retailers, including Huawei, Sephora, Watsons, and All Cotton Era, experienced a doubling in sales on Meituan Flash Purchase due to the surge in gifting demand on Qixi Festival [1]

Group 1 - Fuliwang announced a provision for impairment totaling 24.85 million yuan, which will reduce the company's total profit for the first half of 2025 by the same amount [1] - In 2024, Fuliwang's revenue composition is as follows: 3C products account for 61.69%, automotive products for 17.37%, power tools for 15.12%, diamond wire for 3.16%, and other businesses for 1.62% [1] - As of the report, Fuliwang's market capitalization stands at 7.6 billion yuan [1] Group 2 - The pet industry is experiencing a significant boom, with a market size of 300 billion yuan, leading to a surge in stock prices for related companies [1]

Group 1 - The announcement details the adjustment of the consumer subsidy policy for replacing old products in Harbin, effective from August 23, 2025, to December 31, 2025 [2][4] - The subsidy policy includes updates for automobile replacement and subsidies for home appliances, 3C products, smart home devices, and home decoration materials, with daily limits on coupon issuance and subsidy amounts [2][3] - Consumers can apply for subsidies through the UnionPay Cloud Flash Payment APP, with specific procedures for each category of products [3][4] Group 2 - The announcement encourages consumers to actively participate in the subsidy activities to benefit from the policy [4] - Future adjustments to the policy will be announced separately [4][5]