格隆汇8月27日丨亚香股份(301220.SZ)于投资者互动平台表示，公司与国林新材料公司在机器设备采购 方面存在少量业务合作。 ...

Financial Data and Key Metrics Changes - The company reported a decrease in GMV from €356 million in Q1 to €296 million in Q2, indicating a decline in revenue during the second quarter [34] - The company expects a return on equity and return on capital employed to remain in the range of 18% to 28% for the year [56] Business Line Data and Key Metrics Changes - The company has acquired seven companies this year, with four already consolidated and three expected to be consolidated in the second half of the year [27] - The revenue model for the pharmaceutical segment is being evaluated, with a potential new segment being established due to significant revenue contributions from pharmaceutical companies [24] Market Data and Key Metrics Changes - The company has a strong focus on expanding its international footprint, currently generating around 75% of revenues from Germany, Austria, Switzerland, and the Netherlands [102] - The company is actively pursuing acquisitions in Southern and Eastern Europe to diversify its market presence [104] Company Strategy and Development Direction - The company aims to grow by acquiring new partners and expanding its product offerings, emphasizing that growth is driven by partners rather than industry performance [30] - The company is implementing AI across its operations to enhance efficiency and reduce costs, with all employees receiving weekly training on AI [89][90] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges in certain sectors like automotive and furniture but emphasized that their growth is not dependent on industry performance [30] - The company is conservative in its approach to international expansion, preferring gradual steps to ensure profitability and risk management [104] Other Important Information - The company has shifted its auditor to Air Group, which is seen as a balanced choice between a large and small firm [21] - The company has a cash pooling system in place with its subsidiaries, allowing for efficient cash management across the group [63] Q&A Session Summary Question: What is the reason for the decrease in GMV from Q1 to Q2? - Management confirmed that the decrease is seasonal, with higher GMV typically seen in November and December due to holiday shopping [35] Question: Will the pharmaceutical segment become its own segment? - Management indicated that they are considering establishing a new segment for pharmaceuticals due to significant revenue contributions [24] Question: How does the company manage cash within the group? - The company explained that it does not require large cash reserves at the holding level due to cash pooling agreements with subsidiaries [63] Question: What is the turnover rate among partners? - The company reported a turnover rate of about 3% to 4% per year among partners [66] Question: What is the strategy for international expansion? - The company is focused on gradual international expansion, with recent acquisitions in the Netherlands and plans to enter Southern and Eastern Europe [104]

Group 1 - The core point of the article is that Zhongtung High-tech (000657) announced that its wholly-owned subsidiary, Rare New Materials, plans to purchase machinery, buildings, and land use rights from Minmetals Tungsten for 123 million yuan (excluding tax) [1] - This transaction is classified as a related party transaction and does not constitute a major asset restructuring [1] - The assessed value of the fixed assets (machinery) is 20.8079 million yuan, the investment property (buildings) is 62.0993 million yuan, and the intangible asset (land use rights) is 39.7569 million yuan, totaling 123 million yuan [1] Group 2 - The purpose of the transaction is to improve the asset structure of Rare New Materials and promote the sustainable development of the company [1]

Core Viewpoint - The company intends to acquire machinery, vehicles, and electronic equipment from its subsidiary to support its business development and operational needs, with a total transaction amount of 19.2922 million yuan (including tax) [1] Group 1: Transaction Details - The acquisition involves assets related to production operations from Fujian Nanping Solar Cable Co., Ltd. [1] - The funding for this transaction will be sourced from the company's own funds [1] - The transaction has completed the necessary approval procedures and a sales contract has been signed [1] Group 2: Valuation and Fairness - The pricing of the transaction was negotiated based on the assessed value of the assets [1] - The transaction adheres to principles of fairness, justice, and transparency [1] - There are no indications that the transaction harms the interests of the company or its shareholders [1]

Group 1 - The core viewpoint emphasizes that countries with a spirit of cooperation and strategic foresight will be key players in shaping the future economic landscape [1][3] - China's strong capabilities in manufacturing, infrastructure, and long-term financing, along with its commitment to free trade, position it as a stabilizing force in the global economy [1] - The Belt and Road Initiative proposed by China fosters cooperation through infrastructure projects, capacity collaboration, and sustainable funding, connecting production centers with export routes [1] Group 2 - The trade tensions initiated by the United States are expected to severely impact vulnerable economies, including many African nations, by increasing costs and disrupting infrastructure projects [2] - The integration of African economies into global value chains heightens their vulnerability to external shocks, necessitating a coordinated risk management framework to mitigate the effects of trade wars [2] - The World Trade Organization has historically served as an arbitrator for trade disputes, but its effectiveness is currently hindered by U.S. obstruction, which undermines trust and long-term investment [2] Group 3 - Economic resilience is derived from cooperation and structural reforms rather than protectionism, with the African Continental Free Trade Area being a step in the right direction [3] - African nations are deepening cooperation with countries like China, Brazil, India, and Russia in areas such as technology, education, and infrastructure, which provides greater policy space to counter economic threats from the U.S. [3] - Future economic recovery in Africa is anticipated to be achieved through enhanced collective resilience, shared innovation, and sustainable growth rather than economic fragmentation [3]

Core Viewpoint - The announcement confirms the approval of the 2024 annual routine related party transactions and the estimated transactions for 2025, emphasizing that these transactions are reasonable, necessary, and fair in pricing, without harming the interests of the company and its shareholders [1][2]. Summary of Related Party Transactions - The routine related party transactions for 2024 have been approved by the company's board and will be submitted for shareholder approval [1]. - The transactions are deemed reasonable and necessary, following the required decision-making procedures, and do not affect the company's independence [1][2]. - The estimated routine related party transactions for 2025 have been projected based on the company's operational needs [1]. 2024 Routine Related Party Transactions - The total estimated amount for routine related party transactions in 2024 is CNY 127,260,000, with actual amounts reaching CNY 127,582,802.05 [3][4]. - Specific transactions include: - Qingdao Port Lianxin International Logistics Co., Ltd.: Estimated CNY 81,220,000, Actual CNY 81,022,872.03 for comprehensive logistics services [3]. - Rizhao Port Jifa Yuanda International Logistics Co., Ltd.: Estimated CNY 3,970,000, Actual CNY 6,607,719.46 for comprehensive logistics services [3]. - Shandong Rishun International Supply Chain Management Co., Ltd.: Estimated CNY 3,770,000, Actual CNY 7,876,528.28 for comprehensive logistics services [3]. - Ningbo Meishan Bonded Port Area Yuanda Supply Chain Management Co., Ltd.: Estimated CNY 6,210,000, Actual CNY 7,974,628.47 for comprehensive logistics services [3]. 2025 Estimated Routine Related Party Transactions - The estimated total for 2025 routine related party transactions is CNY 118,244,000, with specific categories and amounts projected for various related parties [5]. - Notable estimates include: - Qingdao Port Lianxin International Logistics Co., Ltd.: Estimated CNY 76,714,000 for comprehensive logistics services [5]. - Rizhao Port Jifa Yuanda International Logistics Co., Ltd.: Estimated CNY 13,055,000 for comprehensive logistics services [5]. - Shandong Rishun International Supply Chain Management Co., Ltd.: Estimated CNY 15,575,000 for comprehensive logistics services [5]. Related Party Overview - The announcement includes details about the related parties involved in the transactions, their financial status, and the nature of their relationships with the company [8][9]. - The related parties are engaged in logistics services, supply chain management, and asset leasing, with established financial metrics indicating their operational capacity [8][9]. Transaction Principles and Impact - The company adheres to principles of equality, voluntariness, and fair pricing in its related party transactions, ensuring that these do not harm the interests of the company or its minority shareholders [9]. - The routine related party transactions are essential for the company's normal operations and are conducted at market fair prices [9].