Group 1: Business Strategy and Development - The company adheres to a dual development strategy of "environmentally friendly low-carbon new materials + biological health," focusing on special environmentally friendly paper, printing products, and industrial hemp processing [2][3]. - Continuous efforts are made to optimize production lines and implement cost-reduction reforms while expanding new customer markets and investing in R&D for industrial hemp technologies and products [2][3]. Group 2: Product Innovation and Market Expansion - The special anti-counterfeit environmentally friendly paper includes vacuum aluminum paper and laser anti-counterfeit materials, with a focus on technological innovation and market expansion [3]. - The company plans to actively explore overseas markets, particularly in South America and Southeast Asia, to meet the demand for high-end packaging orders and promote environmentally friendly film paper technology [4][5]. Group 3: Environmental Compliance and Efficiency - The company has reduced VOC emissions by over 75% by adopting water-based inks, complying with national and EU environmental regulations [6]. - Implementation of an AI visual inspection system and a digital production management system has improved production efficiency and reduced labor costs [5][6]. Group 4: Industrial Hemp Development - The company collaborates with Yunnan University to establish a CBD research center, focusing on the potential applications of CBD in various medical fields [7]. - Multiple patents related to industrial hemp extraction and purification have been applied for, supporting drug formulation development [7]. Group 5: Financial Performance and Future Plans - In the first half of 2025, the company's main revenue decreased by 12.19%, while net profit increased by 23.11% due to high-value business expansion and cost control measures [9]. - The company is in discussions for an H-share listing, which is expected to enhance its global strategy and brand image [9].

Group 1: Company Overview - Shanghai Shunhao New Materials Technology Co., Ltd. focuses on "environmental low-carbon new materials + biological health" dual development strategy [2] - The company operates four main business areas: special environmental paper, printing products, industrial hemp processing, and new tobacco products [2][3] - The special anti-counterfeit environmental paper business includes vacuum aluminum paper and laser anti-counterfeit materials, primarily serving specific consumer goods and social consumer goods industries [2][3] Group 2: Business Performance - The printing business relies on bidding projects to secure orders, offering high customization and stability compared to other printing products [3] - The company has maintained stable revenue and profit levels in its core businesses over recent years [3] - New tobacco business has developed through subsidiaries, generating significant business revenue [3] Group 3: Industrial Hemp and International Expansion - The industrial hemp business focuses on CBD extraction and product export, with a subsidiary in the U.S. offering products like Vitaldiol—R series [3] - The company has plans for international product offerings that emphasize natural health [3] Group 4: Recent Investments and Financial Insights - The company invested 110 million RMB for a 19.30% stake in Beijing Rail Space Technology Co., Ltd. [3] - In the first half of 2025, pre-receipts increased by 2.6125 million RMB, accounting for only 0.10% of total assets [3] Group 5: Regulatory Compliance - The company adhered to regulations during investor relations activities, ensuring no undisclosed significant information was leaked [4]

Core Viewpoint - The report highlights the financial performance and strategic direction of Shanghai Shunho New Materials Technology Co., Ltd., emphasizing its focus on environmentally friendly packaging and the industrial hemp market, while also addressing the challenges and opportunities within the tobacco and new tobacco product sectors [1][2][3]. Financial Performance - The company's operating revenue for the first half of 2025 was approximately 619.54 million yuan, a decrease of 12.19% compared to the same period in 2024 [2]. - The net profit attributable to shareholders was approximately 29.48 million yuan, down 6.24% from the previous year [2]. - Basic and diluted earnings per share increased by 23.14% to 0.0314 yuan per share [2]. Industry Overview - The global green packaging market is experiencing significant growth, with the tobacco packaging sector projected to reach 10.15 billion USD by 2031, reflecting a compound annual growth rate (CAGR) of 1.9% [3]. - In China, the packaging industry is supported by a robust policy framework aimed at promoting green development, with the government emphasizing the establishment of a resource-circulating industrial system by 2025 [3]. - The industrial hemp market is expanding globally, with 57 countries legalizing some form of medical cannabis, and the market for medical cannabis expected to reach 21.04 billion USD by 2025 [3]. Company Strategy - The company maintains a dual strategy focusing on "environmentally friendly low-carbon new materials" and "biological health," with core business areas including special environmentally friendly paper, printing products, industrial hemp processing, and new tobacco products [7][11]. - The company is actively pursuing research and development in new tobacco products and has obtained necessary licenses for electronic cigarette production [11][12]. - The company has established subsidiaries in the U.S. to capitalize on the growing industrial hemp market and has developed innovative products such as Nano Joints, which aim to provide a healthier alternative to traditional smoking [9][10]. Competitive Advantages - The company is recognized as a high-tech enterprise and has been involved in setting industry standards, maintaining a competitive edge in the special anti-counterfeiting environmentally friendly paper market [12][16]. - The company has a strong focus on research and development, holding 402 patents and 223 trademarks, which supports its innovation capabilities [13][12]. - The company emphasizes sustainable practices, having developed biodegradable packaging products and implemented advanced waste treatment technologies [14][19].