雷达财经注意到，6月16日，际华集团在互动问答平台回复了投资者问题。 有投资者提问："请问公司2025年5月30日A股股东人数是多少？" 雷达财经雷助吧出品 文|简白 编|深海 东财Choice数据显示，8月28日，际华集团成交额5.64亿元，主力净流出金额5545.81万元。 值得关注的是，8月8日，际华集团收到中国证券监督管理委员会（以下简称"中国证监会"）下发的《立案告知书》（证监立案字03720252003号），因公司 涉嫌信息披露违法违规，根据《中华人民共和国证券法》《中华人民共和国行政处罚法》等法律法规，中国证监会决定对公司立案。 对此，四川鼎众律师事务所余君律师向雷达财经表示，上市公司信披不及时、不准确给投资者造成损失的，受损投资者可依法索赔。凡是在公司上市后至 2025年8月8日收盘之间买入，并在2025年8月8日收盘时继续持有际华集团股票的受损投资者可以参与索赔，可通过公号"雷助吧"（雷助码：66）报名，免费 参与索赔。获赔前无任何费用。 对此，际华集团表示，公司最近一期定期报告中期末普通股股东总数为10.93万人。如您有其他需要，请参考后续的定期报告。 还有投资者在互动问答平台提问："公司 ...

2025年8月23日，政府采购网发布国家消防救援局2025年度消防被装部门集中采购项目(第一批次)中标 结果公告，际华集团(601718.SH)旗下9家子公司成功中标多个标段，总中标金额达5.1亿元，成为此次采 购项目的最大赢家。这一重大中标是对其多年来深耕应急防护装备领域的高度认可。 作为国家应急救援体系建设的重要组成部分，此次国家消防救援局集中采购项目备受关注。消防被装是 保护消防员人身安全的重要装备，直接关系到消防救援人员在执行任务时的生命安全与作业效率。根据 公告显示，该项目共分为18个标段，采购内容涵盖消防服装、鞋靴、装具等多个品类，对产品的防护 性、耐用性和舒适性均有极高标准。 际华集团此次中标表现尤为抢眼，旗下9家子公司分别中标1、3、7、9、11、13、14、15和18包，中标 金额分别为8379.33万元、5363.93万元、6823.26万元、4461.26万元、7338.56万元、6146.80万元、 3405.90万元、7236.89万元和1880.70万元，合计5.1亿元，占整个采购项目总金额的57%。其中，际华三 五零二职业装有限公司中标金额最高，达8379.33万元。 此次大规模 ...

Export and Trade Data - July exports in USD increased by 7.2% year-on-year, up 1.3 percentage points from June, alleviating concerns about a significant decline in exports for the second half of the year[4] - Imports rose by 4.1% year-on-year in July, a substantial increase of 3 percentage points from the previous month, with imports from the US dropping to -18.9%, the lowest level this year[6] PPI and CPI Trends - July PPI month-on-month was -0.2%, a slight increase of 0.2 percentage points from the previous month, while year-on-year PPI remained stable at -3.6%[8] - July CPI year-on-year was 0%, a slight decrease of 0.1 percentage points from the previous month, with core CPI at 0.8%, up 0.1 percentage points[11] Market Dynamics - Recent shifts indicate a transition from safe assets to risk assets among residents and financial institutions, driven by low bond yields and a rising equity market since the beginning of the year[16] - The current equity market is experiencing a bullish atmosphere, with small-cap stocks outperforming large-cap stocks, reflecting an increase in market risk appetite[16] Economic Outlook - The macroeconomic environment is changing, suggesting that the most significant downward pressure on the economy may be behind, which is a fundamental driver for the stock-bond switch[18] - The expectation of a stable economic recovery, supported by proactive credit expansion, is likely to push the equity market to higher levels[18] US Interest Rate Expectations - Market expectations for US interest rate cuts have risen, with projections indicating approximately three rate cuts in 2025, totaling around 57 basis points[26]

Group 1: Export Performance - In July, China's exports maintained a year-on-year growth rate of 7.2%, an increase of 1.3 percentage points from the previous month[2] - From January to July, exports grew by 6.1% year-on-year in USD terms, accelerating by 0.2 percentage points compared to the first half of the year[2] - The trade surplus for the first seven months reached $683.51 billion, with a surplus of ¥49,126.2 billion in RMB terms[2] Group 2: Import Trends - Imports decreased by 2.7% year-on-year in USD terms, but the decline narrowed by 1.1 percentage points compared to the first half of the year[2] - In July, imports increased by 4.1% month-on-month, indicating a recovery in domestic demand[2] - The total import value from January to July showed a year-on-year decline of 1.6% in RMB terms, with a narrowing decline of 1.1 percentage points compared to the first half[2] Group 3: Regional Contributions - ASEAN and EU contributed positively to July's export growth, with contributions of 2.6 and 1.4 percentage points, respectively[2] - Exports to the US saw a significant decline of 21.7% year-on-year, worsening by 5.5 percentage points from the previous month[2] - The total trade volume with ASEAN in July was $86.03 billion, accounting for 15.8% of total trade, while trade with the EU was $74.55 billion, making up 13.7%[2] Group 4: Product Performance - Mechanical and electrical products maintained export advantages, with integrated circuits, ships, and general machinery growing by 20.5%, 15.5%, and 13.5% year-on-year, respectively[2] - Some light industrial products like bags and furniture showed improved export growth compared to the first half of the year, although still below overall export growth levels[2] - Textile, clothing, and footwear exports saw a decline in growth compared to June, indicating potential challenges in these sectors[2]

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints - China's export in July increased by 7.2% year-on-year, and import increased by 4.1%. The "rush to export" and price increase supported the export to exceed expectations, while the price increase was the main driver for the import growth [3]. - In the short term, the "rush to export" logic may be weakening, and the export in August may decline. In the medium term, the uncertainty of tariff policies may decrease, and the support from quantity and price to export may decline, with the pressure of export slowdown gradually emerging [3]. - For imports, the CRB increase in August is still at a high level, which is expected to support the import reading. Attention should be paid to the repair elasticity of domestic demand, import volume, and price [4]. 3. Summary by Directory 3.1 Export: The re - warming of entrepot trade in July under the uncertainty of tariff negotiations - **Overall situation**: In July, the export growth rate was +7.2%, rising for two consecutive months. The "rush to export" logic was strong due to the uncertainty of tariff negotiations, and the export price increase also contributed to the high export growth from June to July. However, the "rush to export" logic is weakening, and the export may decline in August [3][20]. - **By commodity type** - Labor - intensive consumer goods: The year - on - year export declined to - 3.1%. The reasons may be the pre - Christmas rush to export in June and the "price - for - volume" strategy [1][22]. - Intermediate goods: The export growth rate continued to rise, with a combined year - on - year increase of 18.6% for five types, driving the export growth by 2.1 percentage points. It is expected to remain the main support for exports [1][26]. - Electronic products: The drag on export increased. The combined year - on - year decline of mobile phones and laptops was - 1.3%, and the contribution to export was - 18.1% [29]. - Automobiles: The driving effect on export remained high, with a year - on - year increase of 18.6% in export value, driving the export growth by 0.6 percentage points [29]. - **By country** - Developed economies: The year - on - year export growth rates to the US, EU, and Japan were - 21.7%, +9.3%, and +2.5% respectively. The EU's export weight continued to be higher than the same period, showing a substitution effect [2][34]. - ASEAN: The export share decreased, with a year - on - year increase of 16.6% in July, a slight slowdown of 0.4 pct [2][34]. - Latin America: The proportion rebounded, with a year - on - year increase of 7.7% in export in July ( - 2.1% in June), and the share rose to 8.3%, reaching a new high since August 2024. Entrepot trade heated up [2][34]. 3.2 Import: Price increase drives the further upward movement of imports - **Overall situation**: In July, the import amount increased by 4.1% year - on - year, rising further after turning positive in June. The price increase was the main driving force, and the CRB spot index had a good synchronicity with the import amount growth rate [2][38]. - **By commodity type** - Upstream bulk commodities: The import drag narrowed, with a combined year - on - year decline of 7.9% in the import amount of five types of upstream bulk commodities, which was 3.5 pct higher than that in June [39]. - Intermediate goods: The growth rate continued to rise, with a combined year - on - year increase of 9.5% in the import of four types, driving the import growth by 1.9% [39]. - Downstream consumer goods: The drag also narrowed, with a combined year - on - year decline of - 15.6% in the import of three types of consumer goods ( - 21.0% in June) [39].

Core Viewpoint - Canada Goose, once a symbol of luxury and status in China, is now facing significant challenges, with its market value plummeting over 85% since its peak in 2018, leading to potential divestment by Bain Capital, the controlling shareholder [5][12]. Group 1: Company History and Transformation - Canada Goose was founded in 1957 and initially operated as a small factory producing cold-weather clothing, gaining recognition for its high-quality products [7]. - The brand underwent a significant transformation after Bain Capital acquired a majority stake in 2013, expanding its product range from 20 SKUs to over 200, including urban lightweight collections and accessories [9]. - Bain Capital's strategies included global retail expansion, with the number of direct stores increasing to 50 within three years, and cultural marketing efforts that positioned the brand as a luxury symbol [10][11]. Group 2: Market Performance and Challenges - Canada Goose's revenue surged by 46.4% in the 2018 fiscal year, with its stock price reaching a peak of $72.3 per share, resulting in a market capitalization of $7.8 billion [12]. - However, by the 2025 fiscal year, revenue growth had stagnated, with a mere 1.1% increase to CAD 1.3484 billion, and a significant slowdown in the Greater China market, where revenue growth was only 1% [15][16]. - The shift in consumer behavior towards practicality and value has diminished the brand's status as a luxury item, leading to a decline in sales [16]. Group 3: Competitive Landscape - Increased competition from domestic brands like Bosideng and Gao Fan has intensified, with Bosideng targeting the mid-to-high-end market and Gao Fan capturing 18% of the high-end down jacket market [17]. - Canada Goose's strategic missteps, such as over-reliance on first-tier cities and a limited product range, have further exacerbated its challenges [18]. Group 4: Future Prospects - Following Bain Capital's exit, Canada Goose faces three potential paths: acquisition by a strategic investor, takeover by another private equity firm, or a return to founder leadership [26][27]. - The brand must address three core issues: diversifying beyond down jackets, restoring brand premium, and regaining consumer favor in China [29].

Core Insights - In July 2025, China's export growth rate in USD terms rebounded to 7.2% from 5.9% in June, exceeding Bloomberg's consensus forecast of 5.6% [1][5] - Import growth also improved, rising to 4.1% from 1.1% in June, surpassing the expected decline of -1% [1][5] - The trade surplus slightly decreased to $98.2 billion, an increase of $12.8 billion year-on-year, continuing to support overall demand [1][5] Export Analysis - The rebound in export growth is attributed to several factors, including the "export rush" effect and a recovery in global trade activity [2][5] - The semiconductor cycle's strength has positively impacted related industries, with July exports to South Korea and Taiwan showing significant improvement [2][5] - Exports to the EU and ASEAN have notably strengthened, contributing approximately 4 percentage points to July's export growth [2][6] Import Analysis - July's import growth rate increased by 3 percentage points to 4.1%, driven by improvements in agricultural products and upstream energy imports [3][9] - Energy imports improved from -15.9% to -11.8%, while agricultural imports rose from 1.9% to 5.1% [3][9] - Imports from the US continued to decline, with a year-on-year drop from -15.5% to -18.9%, negatively impacting overall import performance [3][9] Future Outlook - The implementation of new "reciprocal tariffs" and the "232" industry tariffs in August may further elevate global tariff levels, with potential impacts on trade activities still to be observed [4][10] - Despite uncertainties, the overall global demand is expected to remain stable due to fiscal and monetary policy expansions in major economies [4][10] - China's relative advantage in the US import market may increase, although risks from declining global trade volumes persist [4][10] Sector-Specific Insights - The export of mechanical and electrical products showed resilience, with integrated circuit exports growing significantly [6][7] - Automotive exports continued to rise, with a growth rate of 12.1% in July, while steel and fertilizer exports also saw substantial increases [7][8] - Exports to Africa and ASEAN remained strong, reflecting the diversification of China's export destinations [8][9]

Export Performance - From January to July 2025, China's exports increased by 6.1% year-on-year in USD terms, with a trade surplus of $683.51 billion[1] - In July 2025, exports grew by 7.2% year-on-year, while imports rose by 4.1%, leading to a monthly trade surplus of $98.24 billion[1] - ASEAN and EU contributed positively to July's export growth, with contributions of 2.6 and 1.4 percentage points, respectively[1] Import Trends - From January to July 2025, imports decreased by 2.7% year-on-year, but the decline was less severe than in the first half of the year[1] - In July 2025, imports showed a month-on-month increase of 1.8%, indicating a slight recovery in domestic demand[1] - Key imported raw materials like oil, black metals, and copper showed improved year-on-year performance, suggesting a recovery in manufacturing and infrastructure investment[1] Sector-Specific Insights - Mechanical and electrical products maintained export advantages, with integrated circuits, ships, and general machinery showing year-on-year growth rates of 20.5%, 15.5%, and 13.5%, respectively[1] - Light industrial products like bags and furniture saw improved export growth, although overall performance remained below the average export growth rate[1] - The automotive sector continued to show positive growth despite high export baselines in recent years[1] Economic Context - The resilience in export growth is attributed to ongoing US-China trade talks and improvements in the prices of certain export goods, which helped offset declines in export volumes[1] - Risks include the potential for increased economic recession in Europe and the US, as well as a complex international situation[1]

Core Viewpoint - On August 4, Jihua Group's stock price increased by 6.4%, reaching 4.49 CNY per share, with a trading volume of 1.041 billion CNY and a turnover rate of 5.48%, resulting in a total market capitalization of 19.718 billion CNY [1] Company Overview - Jihua Group Co., Ltd. is a significant producer of military supplies, police uniforms, workwear, and related products in China, responsible for approximately 50% of military and police uniform production tasks [1] - The company has an annual production capacity of 56 million sets of various clothing, 28 million pieces of accessories, 75 million pairs of shoes, 1.78 million tons of yarn, 57 million meters of grey fabric, and 74 million meters of dyed fabric [1] - Jihua Group operates over 50 wholly-owned and controlled subsidiaries across 23 provinces, municipalities, autonomous regions, Hong Kong, and Europe, with total assets exceeding 31 billion CNY [1] Shareholder Information - As of March 31, Jihua Group had 109,300 shareholders, with an average of 40,200 circulating shares per shareholder [1] Financial Performance - For the first quarter of 2025, Jihua Group reported a revenue of 1.631 billion CNY, a year-on-year decrease of 37.35%, while the net profit attributable to shareholders was 7.3961 million CNY, reflecting a year-on-year increase of 128.02% [1]

Core Insights - The article highlights a significant narrowing of the trade deficit between China and the U.S. following the Geneva high-level economic talks, with a notable increase in export growth rates and a slight uptick in import growth due to base effects [1][2][3]. Export Analysis - In June 2025, China's total exports reached $325.18 billion, marking a year-on-year increase of 5.8%, which is a 1.0 percentage point rise from the previous month [1][3]. - The decline in exports to the U.S. has significantly reduced, with a year-on-year decrease of 16.13%, an improvement of 18.39 percentage points compared to the previous month [4]. - Exports to ASEAN countries continued to grow rapidly, while traditional export categories saw declines, with integrated circuits and automobiles showing strong growth [5][6]. Import Analysis - China's total imports in June 2025 amounted to $210.41 billion, reflecting a year-on-year growth of 1.1%, reversing from negative growth due to base effects [2][6]. - Imports from the U.S. decreased by 15.5% year-on-year, but this decline was 2.6 percentage points less than the previous month [2][6]. - The import growth rates from Japan and ASEAN were positive, while imports from traditional bulk commodities continued to face challenges [7]. Future Outlook - The external environment for trade is expected to remain complex and volatile, with potential risks and opportunities for export growth in 2025 [8]. - Domestic economic policies aimed at stabilizing the economy are anticipated to support a gradual recovery in import growth, although challenges from the real estate market and global trade barriers may persist [8].