Core Viewpoint - Lafang Jiahua Co., Ltd. has completed the registration of changes in business operations and has received a new business license following the approval of its shareholders to change the company type and address [1][2] Group 1: Company Changes - The company held its second extraordinary general meeting of shareholders on September 29, 2025, where it approved the proposal to change the company type and increase the business address [1] - The company has completed the business registration changes and the filing of the amended Articles of Association, obtaining a new business license from the Shantou Market Supervision Administration [1] Group 2: Business Information - The new business license includes the following details: - Unified Social Credit Code: 91440500734127713X - Name: Lafang Jiahua Co., Ltd. - Type: Joint-stock company (Hong Kong, Macao, Taiwan investment, listed) - Address: Lafang Industrial City, New Qing Road Section, National Highway 324, Chao'nan District, Shantou City [1] - The registered capital of the company is RMB 225,250,458 [1] - The company was established on December 14, 2001, and its business scope includes the production of hair care products, skin care cosmetics, household cleaning products, disinfectants, and industrial protective products [1]

Group 1: Consumption Trends - March retail sales data for consumer goods exceeded expectations, with a year-on-year growth of 5.9% in March and a cumulative growth of 4.6% for the first quarter[14] - Price reductions in essential goods, particularly in food and daily necessities, have led to improved sales volumes, with all price-reduced categories achieving positive year-on-year sales growth for three consecutive months[4] - The learning tablet market saw a significant increase, with sales volume up 29.4% and sales revenue up 15.8% in Q1 2025, driven by government subsidies and promotional efforts[8] Group 2: Economic Indicators - The first quarter GDP growth was 5.4%, consistent with the previous quarter and better than the 5% growth for the entire year of 2024[18] - The cumulative fixed asset investment growth rate was 4.2% in March, with significant contributions from transportation infrastructure and equipment upgrades[18] - The social financing scale increased by 58,879 billion yuan in March, a year-on-year increase of 10,544 billion yuan, indicating a positive trend in credit availability[22] Group 3: Market Risks - Potential risks include fluctuating statements regarding tariffs from the U.S., which could impact market stability[23] - The restructuring of supply chains due to tariffs may lead to global growth slowdowns and overcapacity risks[23]