在可能收购事项完成后，公司将有效整合目标公司在嵌入式系统及模块领域的优势资源。目标公司在中 国市场长期维持领先地位，坐拥较高的市场份额及享有良好的品牌声誉。目前，集团尚未在该产品线开 展大规模业务。通过该并购，公司将迅速完善其嵌入式及模块产品线，进一步提高整体产品组合的完整 度及市场竞争力。 智通财经APP获悉，容大科技(09881)尾盘涨超16%，截至发稿，涨15.59%，报15.2港元，成交额392.98 万港元。 消息面上，容大科技宣布，拟以不超过人民币6500万元的代价收购深圳市研科数码有限公司的全部已发 行股本。公告显示，研科数码主要从事打印设备的研发及生产。 ...

容大科技(09881)尾盘涨超16%，截至发稿，涨15.59%，报15.2港元，成交额392.98万港元。 消息面上，容大科技宣布，拟以不超过人民币6500万元的代价收购深圳市研科数码有限公司的全部已发 行股本。公告显示，研科数码主要从事打印设备的研发及生产。 在可能收购事项完成后，公司将有效整合目标公司在嵌入式系统及模块领域的优势资源。目标公司在中 国市场长期维持领先地位，坐拥较高的市场份额及享有良好的品牌声誉。目前，集团尚未在该产品线开 展大规模业务。通过该并购，公司将迅速完善其嵌入式及模块产品线，进一步提高整体产品组合的完整 度及市场竞争力。 ...

Group 1 - The company, Rongda Technology (09881), announced an intention to acquire all issued shares of Shenzhen Yanke Digital and Shenzhen Jinruisheng for a consideration of up to RMB 65 million, subject to adjustments in the formal sale agreement [1] - The target company is a limited liability company registered in China, primarily engaged in the research and production of printing equipment, and holds 100% equity of Guangdong Yanke [1] - Following the completion of the acquisition, the company aims to integrate the target's advantages in embedded systems and modules, enhancing its product line and market competitiveness in the printing equipment sector [1] Group 2 - Shenzhen Jinruisheng, fully owned by Mr. Li Yan, will transfer its ownership to the target company, which will then hold all equity of Shenzhen Jinruisheng, a company focused on the sales of printing equipment [1] - The target company maintains a leading position in the Chinese market with a significant market share and a strong brand reputation, which the company seeks to leverage through this acquisition [1] - The acquisition is expected to rapidly enhance the company's embedded and module product lines, improving the overall completeness of its product portfolio without utilizing funds from an initial public offering [1]

智通财经APP讯，容大科技(09881)发布公告，于2025年12月19日，本公司、卖方(李焰先生、崔长盛先 生、崔宏伟女士及赵子龙先生)、目标公司深圳市研科数码及深圳锦瑞胜已订立意向书。根据意向书， 本公司拟以不超过人民币6500万元(受限于将在正式买卖协议中协定的调整)的代价向卖方收购销售股份 (目标公司的全部已发行股本)。 于本公告日期，深圳锦瑞胜由李焰先生全资拥有。于深圳锦瑞胜转让事项完成后，目标公司将持有深圳 锦瑞胜(一家主要从事打印设备销售的公司)的全部股权。 在可能收购事项完成后，本公司将有效整合目标公司在嵌入式系统及模块领域的优势资源。目标公司在 中国市场长期维持领先地位，坐拥较高的市场份额及享有良好的品牌声誉。目前，本集团尚未在该产品 线开展大规模业务。通过该并购，本公司将迅速完善其嵌入式及模块产品线，进一步提高整体产品组合 的完整度及市场竞争力。可能收购事项(倘进行)将不会通过首次公开发售所得款项拨资。 目标公司是一家于中国注册成立的有限责任公司，且目标公司持有广东研科的全部股权。目标公司及广 东研科主要从事打印设备的研发及生产。 ...

Group 1 - The core point of the article is that SUWA, a Chinese 3D portrait photography service provider, has filed for an IPO with the SEC, aiming to raise up to $30 million [1] - SUWA offers 3D portrait photography services primarily in China, providing products such as 3D photo booths, printing equipment, and supporting software to commercial clients [1] - The company has established a customer base in 20 provinces in mainland China and 9 countries globally, including Australia, Saudi Arabia, and South Korea, as of December 31, 2024 [1] Group 2 - Founded in 2016 and headquartered in Xiamen, SUWA reported revenue of $2 million for the 12 months ending December 31, 2024 [1] - The company plans to list on NASDAQ under the ticker symbol SUWA, with Kingswood Capital Markets serving as the sole underwriter for the transaction [1] - Pricing terms for the IPO have not yet been disclosed [1]

Core Viewpoint - Sharewow, a Chinese company providing 3D portrait photography services, has filed for an IPO with the SEC, aiming to raise up to $30 million and plans to list on NASDAQ under the ticker symbol SUWA [1][2]. Company Overview - Sharewow is headquartered in Xiamen, China, and was established in 2016. The company primarily serves enterprise clients in China and globally, offering products such as 3D photography studios, printing equipment, and supporting software [2][4]. - As of December 31, 2024, Sharewow's revenue for the preceding 12 months was $2 million [4]. Financial Performance - For the year ended December 31, 2023, Sharewow reported revenues of approximately RMB 12.7 million (around $1.97 million) and projected revenues of RMB 14.1 million (approximately $2.1 million) for 2024 [5]. - The cost of revenues for 2023 was RMB 8.3 million (about $1.23 million), resulting in a gross profit of RMB 4.4 million (approximately $741,487) [5]. - Operating expenses totaled RMB 10.1 million (around $1.68 million) in 2023, leading to a loss from operations of RMB 5.7 million (approximately $937,223) [5]. - The net loss for 2023 was RMB 5.5 million (about $918,137) [5]. Market Presence - Sharewow's client base spans 20 provinces in mainland China and includes customers in nine countries, such as Australia, Saudi Arabia, and South Korea [2]. IPO Details - Kingswood Capital Markets is the exclusive book-running manager for the IPO, although no pricing terms have been disclosed yet [6].

Economic Activity - The latest Federal Reserve Beige Book indicates that overall economic activity in the U.S. has remained nearly unchanged over the past six weeks, with most regions reporting "flat or slight declines" [1] - Out of the 12 Federal Reserve districts, 11 reported no significant changes in economic activity, while one district experienced a slight decline [1] - Consumer spending is reported to be "flat or declining," primarily due to wage growth lagging behind rising prices, putting more pressure on household budgets [1] Inflation and Costs - All regions reported varying degrees of price increases, with 10 districts describing inflation as "moderate or modest," while two districts reported "strong input cost growth" [1] - Tariffs have led to price increases across nearly all regions, particularly in industries heavily reliant on imports, with businesses passing on costs through price hikes [2] - A local coffee roaster in New York noted that tariffs on Brazilian coffee and other raw materials have impacted the entire supply chain [2] Employment Market - The employment levels across 11 districts were reported to be "almost unchanged," with only one district noting a slight decline [2] - There is a noticeable reduction in immigrant labor, particularly in the construction sectors of New York, Richmond, St. Louis, and San Francisco, exacerbated by stricter immigration policies [2] - While white-collar candidates prefer remote or hybrid work, there is less selectivity in accepting job offers, whereas physical labor positions remain easier to fill despite an overall contraction in job numbers [2] Consumer Behavior - Rising living costs have increased demand for basic needs among low-income groups, affecting spending patterns [1] - Due to slow wage growth, consumer purchasing power has declined, leading to more cautious spending behavior [3] Federal Reserve Outlook - The Beige Book reflects a weak economic situation, increasing market expectations for a rate cut by the Federal Reserve in September [3] - Analysts suggest that if the August non-farm payroll report is poor, it will almost "lock in" the decision for a rate cut in September [3] - A potential 25 basis point cut is anticipated as a moderate measure to balance inflation and employment concerns [3]

Core Insights - The cross-border e-commerce sector is entering a "new battlefield" with emerging markets such as the Middle East, Latin America, Japan, South Korea, India, and Australia becoming focal points for Chinese sellers [1][2] - Supply chain capabilities are increasingly critical, as global economic fluctuations put pressure on fulfillment and logistics, with consumers demanding higher standards in delivery efficiency and return services [1][2] Group 1: New Market Opportunities - Chinese cross-border sellers are expanding their focus beyond traditional markets like Europe and Southeast Asia to include new regions [1] - Brazil's e-commerce market, although nascent, shows a strong preference for rapid delivery, with 66% of consumers prioritizing price and promotions, followed by 45% valuing fast delivery [1] Group 2: Supply Chain Resilience - The concept of a resilient supply chain is becoming essential for cross-border sellers, as they face challenges in logistics and customer service [3][4] - Companies like Happy Jump have recognized the importance of logistics efficiency, achieving same-day delivery in major Australian cities through partnerships with platforms like Amazon [4][6] Group 3: Key Findings from Reports - Amazon's report highlights that 62.5% of surveyed sellers aim to enhance local service capabilities, while 41% focus on improving delivery performance [2][11] - The report outlines four pillars for building resilient supply chains: global network layout, regional service grid, end-to-end digitalization, and value-added benefits [11][12] Group 4: Trends in Supply Chain Development - The rise of global supply chain services is evident, with companies focusing on niche logistics services to enhance competitive differentiation [18][19] - The "Supply Chain as a Service" model is lowering barriers for businesses entering international markets by providing modular and intelligent operational solutions [19] - Advanced technologies like AI and robotics are driving significant efficiency improvements in logistics processes [19][21] Group 5: Sustainability in Supply Chains - Sustainability is becoming a critical factor in supply chain strategies, with companies adopting eco-friendly practices to meet consumer expectations and regulatory requirements [21][22] - A survey indicates that 26% of businesses view sustainability as a key influence on their supply chain strategies, highlighting its growing importance in global trade [21][22]

Group 1 - The core viewpoint of the news is the successful listing of Rongda Technology on the Hong Kong Stock Exchange, attracting significant investor interest with a fundraising total of 184 million HKD [1] - The opening price of Rongda Technology reached 16.6 HKD, a 66% increase from the issue price, indicating strong market demand [1] - Despite fluctuations, the company's market capitalization stabilized at approximately 1.444 billion HKD, reflecting positive market performance [1] Group 2 - Rongda Technology is a leading global supplier of Automatic Identification Data Capture (AIDC) devices and solutions, with products sold in over 140 countries and regions [1] - The company has received several prestigious titles, including national high-tech enterprise and "little giant" enterprise, and holds hundreds of core patents, showcasing its strong technological capabilities [1] - Financial data indicates that Rongda Technology's revenue for 2022 to 2024 is projected to be 393 million, 349 million, and 350 million CNY respectively, showing stable revenue despite some fluctuations [3] - As of the end of 2024, the company's cash and cash equivalents are reported at 7.61 million CNY, which may impact its financial flexibility [3] - The listing marks a significant milestone for the company, and its future performance will depend on how it utilizes the raised funds to enhance R&D, expand sales networks, and improve its financial situation [3]

Core Viewpoint - The stock performance of Rongda Technology (09881.HK) has been disappointing since its listing on June 10, 2023, with a significant decline in share price and market capitalization, contrasting sharply with other successful IPOs in the Hong Kong market [2][4][5]. Group 1: Stock Performance - Rongda Technology's stock price fell by 10.19% on July 4, 2023, closing at 9.7 HKD per share, resulting in a market capitalization of only 919 million HKD [2]. - Since its peak on the first trading day at 17.56 HKD per share, the company has experienced a cumulative decline of over 44% [4]. - The stock has dropped below its initial offering price of 10 HKD per share, marking a new low since its listing [4]. Group 2: Company Overview - Rongda Technology specializes in automatic identification and data collection (AIDC) devices and solutions, with a product range that includes printing equipment, scales, POS terminals, and PDAs [4]. - The company’s main product, printing equipment, is expected to account for nearly 70% of its revenue in 2024 [4]. - The company offers over 100 standard products that incorporate AIDC technology, IoT, cloud printing, and AI, serving various industries such as retail, education, and healthcare [4]. Group 3: Financial Performance - The company's revenue is projected to decline from 393 million RMB in 2022 to 350 million RMB in 2024, with annual profits of 37.44 million RMB, 27.60 million RMB, and 41.34 million RMB over the same period [5]. - The current dynamic P/E ratio of Rongda Technology exceeds 20, which is considered high for a traditional industry, leading to a lack of investor confidence [5]. Group 4: Legal Issues - On July 3, 2023, Rongda Technology received a civil lawsuit from Xiamen Top Electronics Co., Ltd., alleging infringement of trade secrets and seeking approximately 200 million RMB in damages [5][6]. - The lawsuit is set to be heard on July 22, 2025, and the company plans to actively defend itself against the allegations [6][8].