Core Viewpoint - Shenzhen Shunfeng Investment Co., Ltd. plans to reduce its stake in KJ Intelligent by up to 3% within three months, marking its first share reduction since the company's IPO [1] Group 1: Shareholding and Reduction Plan - Shunfeng Investment currently holds 11.14% of KJ Intelligent's total share capital, making it a significant shareholder [1] - The reduction plan will take place from September 30, 2025, to December 29, 2025, with the actual start date potentially adjusted based on any trading suspensions [1] - The reduction will occur through two methods: a maximum of 1% via centralized bidding and up to 2% through block trading [1] Group 2: Historical Context and Financials - Shunfeng Investment acquired its shares at a price of 3.34 yuan per share in April 2020, holding 14.85% before the IPO [1] - The current share price of KJ Intelligent is 15.54 yuan per share [1] Group 3: Company Overview - KJ Intelligent specializes in smart logistics and intelligent manufacturing solutions, serving both domestic and international clients [2] - Shunfeng is a major customer of KJ Intelligent [2] - Shunfeng Investment also holds shares in Zhilai Technology, which focuses on smart parcel lockers for the last-mile delivery in the express delivery industry [2]

Core Viewpoint - The major shareholder of Zhilai Technology, Yi Mingli, plans to reduce her stake by up to 2,800,000 shares, representing 1.19% of the company's total share capital, without affecting the company's control or governance structure [1] Group 1: Shareholder Actions - Yi Mingli intends to reduce her holdings within three months from July 28, 2025, through block trades or competitive bidding [1] - The shares to be sold are sourced from pre-IPO shares, shares from rights distributions, and shares obtained through non-trading transfers [1] Group 2: Company Background - Zhilai Technology was listed on the Shenzhen Stock Exchange's Growth Enterprise Market on April 22, 2019, with an initial public offering of 25 million shares at a price of 30.24 yuan per share [1] - The total amount raised from the IPO was 756 million yuan, with a net amount of 698.83 million yuan allocated for expanding production capacity, R&D center construction, marketing, and working capital [2] Group 3: Financial Distributions - In 2021, the company distributed a cash dividend of 3.00 yuan per 10 shares, totaling 48 million yuan, and issued 80 million shares as a capital reserve distribution, increasing the total share capital to 240 million shares [3] - For the 2019 fiscal year, the company distributed a cash dividend of 4.00 yuan per 10 shares and issued 60 million shares as a capital reserve distribution [4]

Group 1: Industry Overview - The smart parcel locker industry is currently in a stable growth phase after experiencing rapid development [3] - The efficiency of equipment in the storage and delivery process is higher than that of manual labor, leading to greater acceptance of smart lockers in markets with high labor costs [3] - There is potential for growth in the lower-tier markets for smart lockers, which have previously been limited by investment return rates [3] Group 2: Market Outlook - The company is optimistic about the development of foreign markets and plans to allocate resources accordingly, as labor costs are significantly higher abroad [4] - The gross profit margin for the company's products in foreign markets is higher than in domestic markets [4] Group 3: Business Expansion - The company has been expanding its business in the medical sector for three years, with some well-known hospitals already using its products [5] - The medical storage and delivery market is still in its early development stage [5] Group 4: Production Capacity - The production capacity of the company's factories in Hubei and Vietnam is sufficient to meet customer order demands [5] - The production model is based on single-order production, with capacity utilization determined by customer orders [5] Group 5: Cost Reduction and Efficiency Improvement - The company is continuously working on cost reduction and efficiency improvement in areas such as raw material procurement and supply chain management [5] - The focus is also on expanding business globally to enhance profitability [5] Group 6: Future Growth Drivers - The smart storage and delivery industry is expected to continue its stable growth, with confidence in future market prospects [6] - There are many application scenarios in the segmented fields of smart storage and delivery, including medical behavior systems, charging cabinets, and vending machines [6]