2025年9月21日盘后，环球印务发布了关于持股5%以上股东减持公司股份的预披露公告。该公告显示，自本公告发布之日起15个交易日后的 三个月内（即2025年10月22日至2026年1月21日），股东香港原石国际有限公司（以下简称"香港原石"）计划以集中竞价交易合计减持不超 过320.04万股公司股份，占公司总股本比例的1%。香港原石本次拟减持的原因为自身资金需要，减持的股份来源为首次公开发行前已发行 股份。 | 股东姓名 | 股东身份 | 持有公司股 | 占公司总股 | 拟减持股份 数量(股〈不 | 拟减持股份数 量占公司总股 | | --- | --- | --- | --- | --- | --- | | | | 份数量(股) | 本比例 | | | | | | | | 超过》) | 本的比例 | | 香港原石国际有限 | 持股 5%以上 | 35, 134, 040 | 10. 98% | 3, 200, 400 | 1% | | 公司 | 股东 | | | | | （图片来源：截图自环球印务公告） 香港原石在2025年6月份就已经减持套现约2659.53万元。根据环球印务2025年6月份发布的关于持股 ...

Core Viewpoint - The recent mid-year report for 2025 from Global Printing (002799) indicates significant declines in revenue and profit, primarily due to a contraction in the internet digital marketing business and increased management costs [2][14]. Business Overview - As of the reporting period, the total operating revenue was 439 million yuan, a year-on-year decrease of 43.53% [2]. - The net profit attributable to shareholders was -3.72 million yuan, down 109.85% year-on-year [2]. - The second quarter alone saw an operating revenue of 201 million yuan, a decline of 38.6% year-on-year [2]. Financial Metrics Analysis - The gross profit margin for the mid-year report was 16.48%, an increase of 12.38% year-on-year [3]. - The net profit margin was -1.03%, a decrease of 120.53% year-on-year [3]. - Earnings per share were -0.01 yuan, down 108.33% year-on-year [3]. Cost and Expenses - Total operating expenses (selling, administrative, and financial expenses) amounted to 50.56 million yuan, representing 11.52% of revenue, an increase of 105.42% year-on-year [4]. - Administrative expenses rose by 37.8%, primarily due to increased wages and salaries during the reporting period [4]. Main Business Composition - Revenue from the pharmaceutical and other paper box business was 212 million yuan, accounting for 48.31% of total revenue, with a gross margin of 20.64% [5]. - The printing and packaging supply chain business generated 158 million yuan, making up 35.90% of total revenue, with a gross margin of 15.07% [6]. - Internet digital marketing contributed 66.03 million yuan, representing 15.04% of total revenue, with a gross margin of 3.00% [7]. - Other business segments generated 3.27 million yuan, accounting for 0.75% of total revenue, with a gross margin of 86.71% [8]. Regional Distribution - Revenue from the North China region was 154 million yuan, accounting for 35.15% of total revenue, with a gross margin of 15.55% [9]. - The Central South region contributed 114 million yuan, representing 26.08% of total revenue, with a gross margin of 13.68% [10]. - The East China region generated 91.34 million yuan, making up 20.81% of total revenue, with a gross margin of 14.80% [11]. - Revenue from Northwest, Northeast, Southwest regions, and overseas sales were 36.71 million yuan, 24.38 million yuan, 13.81 million yuan, and 3.93 million yuan, respectively [13]. Operational Commentary - The decline in operating revenue is primarily attributed to the contraction in the internet digital marketing business, alongside increased management costs and overdue accounts receivable [14]. - Despite these challenges, the company maintains a competitive edge in the pharmaceutical and consumer packaging sectors and continues to optimize resource allocation to enhance overall efficiency [14]. Core Competitiveness Analysis - The company possesses advantages in brand and customer resources, manufacturing, innovation, management, and safety and environmental protection in the pharmaceutical packaging business [15]. - In the printing and packaging supply chain management sector, the company has advantages in industry resource integration, customer resources, R&D and technical services, and talent [15]. Financial Health Status - The company has a healthy cash asset position, but attention is needed on cash flow, with the average operating cash flow over the past three years being 15.09% of current liabilities [16].