Group 1 - The article emphasizes the critical role of a wooden board in the operation of a conveyor belt, suggesting that without it, the entire system would fail [1] - The wooden board is portrayed as an essential component, highlighting its importance in maintaining the functionality of the conveyor belt [1] - The narrative suggests that the absence of this wooden board could lead to significant operational disruptions for the company [1]

Group 1 - The company, Xinbao Global Holdings (00723.HK), announced that its indirect wholly-owned subsidiary, Huitong Resources International Co., Ltd., signed a cooperation agreement with Guangxi Fenglin Wood Industry Group Co., Ltd. on December 22, 2025 [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示不會就本公佈全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 本自願公佈由信保環球控股有限公司（「本公司」，連同其附屬公司統稱「本集 團」）旨在向本公司股東（「股東」）和有意投資者通報本集團業務發展的最新 情況而刊發。 合作協議 本公司董事會（「董事會」）欣然宣布，本公司間接全資附屬公司滙通資源國際 有限公司（「滙通資源」）於2025年12月22日與廣西豐林木業集團股份有限公司 （「廣西豐林」）簽訂合作協議（「合作協議」）。 本合作協議的目的是：(1)共同開發歐盟（「歐盟」）木板及相關產品市場，提 升雙方在歐盟的市場佔有率和品牌影響力；(2)建立高效的歐盟銷售和服務網 絡，為客戶提供優質的產品與服務；(3)探討更深層次的產業合作，包括但不 限於建立銷售點、產品代銷、供應鏈整合，以及未來潛在的合資建設工廠的可 能性。 廣西豐林授權滙通資源及/或其集團的關聯公司作為其在歐盟境內羅馬尼 亞、塞爾維亞、克羅地亞、德國、法國和意大利的木板產品區域代理商。本 合作協議由簽訂日起生 ...

Core Viewpoint - Yunnan Jinggu Forestry Co., Ltd. is facing significant legal challenges due to multiple lawsuits involving its subsidiary, Tangxian Huiyin Wood Industry Co., Ltd., which may impact its financial stability and operational capabilities [2][8]. Summary by Sections Legal Proceedings - The subsidiary Huiyin Wood Industry has received a civil ruling from the Tangxian People's Court for asset preservation involving a claim of 7,198,600 yuan [2][6]. - Huiyin Wood Industry is currently involved in a total of six lawsuits, with a cumulative claim amount of approximately 66.9 million yuan, which represents 70.34% of the company's latest audited net assets attributable to shareholders [2][3]. Financial Impact - The company has identified additional outstanding loans totaling approximately 30.89 million yuan, which may increase as creditors pursue claims through litigation [3][6]. - Previous asset preservation measures included the freezing of assets valued at about 50.8 million yuan and the freezing of bank accounts with approximately 800,000 yuan [4][5]. Company Response - The company has established a special task force to verify the authenticity and completeness of the related loans and has engaged litigation lawyers to actively respond to the lawsuits [3][9]. - The company is taking legal measures to mitigate the impact of these issues on its operations and is pursuing recovery from responsible parties to protect the interests of the company and its shareholders [3][9].

Core Viewpoint - Oriental Yuhong's performance has significantly declined, with a 10.84% decrease in revenue and a 40.16% drop in net profit for the first half of 2025, primarily due to lower-than-expected market demand [2][3]. Financial Performance - The company's revenue for the first half of 2025 was 13.569 billion yuan, down 10.84% year-on-year, while net profit attributable to shareholders was 564 million yuan, a decrease of 40.16% [3]. - As of June 30, 2025, accounts receivable stood at 9.409 billion yuan, accounting for 21.36% of total assets, an increase of 4.94% from the end of the previous year [3]. - The company made a provision for asset impairment of approximately 406 million yuan, with bad debt losses from accounts receivable reaching 377 million yuan, impacting the financial results significantly [3]. Strategic Adjustments - Oriental Yuhong is actively working to reduce its reliance on the real estate sector and decrease accounts receivable. The company has shifted to a sales model prioritizing retail and engineering channels, which now account for 84.06% of total revenue [4]. - The company has successfully transitioned from a direct sales model focused on large real estate clients to a channel-based model, improving operational quality and related metrics [4]. Dividend Policy - Despite the significant drop in net profit, Oriental Yuhong plans to distribute a cash dividend of 9.25 yuan per 10 shares, totaling approximately 2.21 billion yuan [5][6]. - The company adjusted its 2024 dividend plan in response to market conditions, reducing the payout from 18.50 yuan per 10 shares to 9.25 yuan, while ensuring overall stability in investor returns [6]. Market Conditions - The construction materials industry is experiencing a downturn, with the national building materials and home furnishings market facing significant challenges, including rising costs and increased competition [7]. - In response to these pressures, many companies, including Oriental Yuhong, have raised product prices to maintain healthy market competition [10]. International Expansion - Oriental Yuhong is pursuing international growth by acquiring a 100% stake in Chilean company Construmart S.A. for approximately 1.23 billion USD (about 880 million yuan), which operates around 31 building materials supermarkets in Chile [8][9]. - The acquisition aims to leverage supply chain advantages from China and enhance Construmart's market competitiveness, while also providing operational experience that can benefit domestic retail operations [9].