Core Viewpoint - Shunhao Co., Ltd. plans to issue H-shares and list on the Hong Kong Stock Exchange, aiming to enhance its global strategy and respond to national policies promoting new productivity [1][11]. Company Overview - Shunhao Co., Ltd. was established in 2004 and is headquartered in Shanghai, focusing on eco-friendly packaging materials, with additional business segments in new tobacco products and industrial hemp [4]. - The company employs nearly 1,200 people and has around 30 subsidiaries globally, with products sold in various regions including North America, South America, Europe, Asia, the Middle East, and Africa [4]. - Shunhao Co. was listed on the Shenzhen Stock Exchange in March 2011, with a current market value of 9.042 billion yuan and a share price of 8.53 yuan [4]. Financial Performance - In the first half of 2025, Shunhao reported a revenue of 620 million yuan, a decrease of 12.19% year-on-year, while net profit attributable to shareholders increased by 23.11% to 33 million yuan [4][5]. - The decline in revenue was primarily due to a drop in product sales, with major products like printed materials and aluminum-plated paper seeing revenue reductions of 4.83% and 19.37%, respectively [6]. - The company sold a 49% stake in a loss-making associate for 29.89 million yuan, expected to increase net profit by 16.52 million yuan, thereby improving profitability and asset quality [6]. Strategic Initiatives - Shunhao is focusing on a dual strategy of "eco-friendly low-carbon new materials + biological health," emphasizing the development and sales of specialty eco-friendly paper, printed materials, new tobacco, and industrial hemp [6]. - The company is also expanding its overseas operations, with international revenue reaching 91.18 million yuan in the first half of 2025, a year-on-year increase of 33.31%, accounting for 14.72% of total revenue [7]. Leadership - The chairman, Wang Zhenglin, is a 30-year-old from Chaoshan, who became the youngest chairman of an A-share company in 2018 [8][10]. - Wang Zhenglin took over as the actual controller of Shunhao in 2023, succeeding his father, Wang Dan [11].

Core Viewpoint - Shunhao Co., Ltd. plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its global strategy and competitiveness, responding to national policies for new productivity development [1] Company Overview - Shunhao Co., Ltd. was established in 2004 and focuses on four main business areas: special environmental paper research, printing products, industrial hemp processing, and new tobacco products [1] Financial Performance - In the first half of 2025, the company reported revenue of 620 million CNY, a decrease of 12.19% year-on-year, while net profit attributable to shareholders was 33.3 million CNY, an increase of 23.11% year-on-year [2] - The decline in revenue is attributed to a drop in product sales [2] Product Revenue Breakdown - Major products include printing products and aluminum-plated paper, which generated revenues of 298 million CNY and 186 million CNY, respectively, reflecting decreases of 4.83% and 19.37% compared to the same period last year [4]