（图片来 源：网络） 出品｜搜狐财经 作者｜冯圆圆 日前，元隆雅图因销售人员伪造销售合同一事备受市场关注。据相关公告显示，该销售人员伪造假的销售合同长达3年，具体涉案金额还有待公安机关进一 步调查。 不过，经元隆雅图自查显示，仅今年一度因假合同便虚增了2935.05万的利润；而据元隆雅图此前披露的一季报显示，今年一季度其实现归母净利润2476.76 万，如此一来元隆雅图的业绩便由盈转亏了。 而在今年4月，元隆雅图还多次发布公告表示其内控得到有效的执行，其中也包括来自审计机构的结论。 那么，多次审计之下，为何没能发现如此巨大的漏洞？而元隆雅图失控的内控下，该名销售人员的行为是否只是"冰川一角"？ 真假合同难辨 7月11日，北京元隆雅图文化传播股份有限公司（下称"元隆雅图"）发布公告称，经自查发现，公司一名在职销售人员通过伪造公司客户公章、销售合同等 资料，虚构销售业务，非法占有公司财产。 据元隆雅图披露，该销售人员伪造的合同分别涉及2023年、2024年及2025年第一季度的销售收入；其中，元隆雅图自查发现，该销售人员伪造合同对今年一 季度的销售收入影响约2935.05万。 元隆雅图表示，按照谨慎性原则，假设该 ...

Core Viewpoint - Yuanlong Yatu (元隆雅图) has reported a case of contract forgery by a sales employee, leading to a police investigation and potential financial impacts on the company's revenue and profit forecasts for 2025 [1][2] Group 1: Incident Details - A sales employee at Yuanlong Yatu was found to have forged customer seals and sales contracts, resulting in the illegal appropriation of company assets [1] - The company has filed a report with the Beijing Public Security Bureau, which has initiated a criminal investigation and taken coercive measures against the suspect [1] - Preliminary investigations indicate that the forged contracts could affect the company's sales revenue for the first quarter of 2025 by approximately 29.35 million yuan [1] Group 2: Financial Impact - Yuanlong Yatu anticipates a net profit loss of 5 million to 10 million yuan for the first half of 2025, marking a shift from profit to loss year-on-year [2] - The company expects a decrease in non-recurring net profit by 800,000 to 1.3 million yuan, reflecting a year-on-year decline of 134.27% to 155.69% [2] - The expected revenue for the first half of 2025 is approximately 1.407 billion yuan, adjusted for the impact of the incident [2] Group 3: Business Operations - Yuanlong Yatu specializes in providing integrated marketing services, including promotional gifts, digital marketing, and new media advertising [2] - The company has seen a significant increase in revenue from financial clients and other major customers, despite the ongoing investigation [2] Group 4: Stock Performance - Yuanlong Yatu's stock price has experienced significant fluctuations, recently closing at 20.7 yuan per share, which is a 70% increase from the low in early April, despite a 24% drop from the mid-June peak [3] - The company clarified that its business with Pop Mart is primarily B2B, with limited revenue contribution from related IP projects [3]

Core Viewpoint - Xiamen Jihong Technology Co., Ltd. (Jihong Co.) is set to become the first "AI cross-border social e-commerce A+H stock" in China, attracting significant market attention as it prepares for its IPO on the Hong Kong Stock Exchange [1] Business Layout: Dual-Drive, Multi-Coordination - Jihong Co. employs a dual-drive business model focusing on both ToC (consumer) and ToB (business) sectors, enhancing its risk resilience through diversified operations [2] - The company leverages AI technology to create a "goods find people" model in cross-border e-commerce, significantly improving customer shopping experiences and reducing time costs [2] - Jihong Co. has established a leading position in emerging markets such as Southeast Asia and the Middle East, showcasing strong adaptability and growth potential [2] Technical Strength: AI Empowerment, Driving Growth - The core competitiveness of Jihong Co. lies in its deep application of AI technology, optimizing the entire supply chain and enhancing operational efficiency [5] - The company has successfully launched several proprietary brands, expanding its product matrix and strengthening its market competitiveness [5] Market Position: Advantages and Limitations - Jihong Co. ranks second in China's B2C export e-commerce with a market share of 1.3% and first in the paper packaging sector with a market share of 1.2% [8] - The company has built strong partnerships with leading fast-moving consumer goods brands, ensuring stable revenue streams and reinforcing its market leadership [8] Financial Performance: Stable Yet Fluctuating - Jihong Co.'s revenue for 2022, 2023, and 2024 was 5.376 billion, 6.695 billion, and 5.529 billion respectively, with net profits of 172 million, 332 million, and 184 million [10] - The company faced a revenue decline of 17.41% and a net profit drop of 47.28% in 2024, attributed to market pressures [10][11] Challenges Faced: Localization and Technological Pressure - Jihong Co. encounters challenges in localizing operations across diverse markets, requiring significant resource investment to adapt to varying regulations and consumer preferences [15] - The rapid pace of technological advancement necessitates continuous R&D investment to maintain a competitive edge in AI and data analytics [16] Conclusion - Jihong Co.'s upcoming listing on the Hong Kong capital market represents a significant milestone, providing access to international capital and opportunities for global expansion [20] - Despite its strong competitive position, the company must navigate challenges related to localization, technology, global economic conditions, and intensified market competition [20][21]