Core Viewpoint - The company held a successful half-year performance briefing on September 4, 2025, with full interaction with investors, addressing 13 questions with a 100% response rate [1] Group 1: Company Operations and Strategy - The company is currently focused on maintaining stable production operations and enhancing the competitiveness of high-end products while expanding into overseas markets, with further strategic developments dependent on the progress of shareholder matters [2][9] - The company reported overseas sales revenue of 16.86 million, a significant increase of 121% compared to the same period last year, with overseas sales accounting for 6.13% of total revenue, up over 3 percentage points year-on-year [3] - The company has established a "Supply Chain Risk Control Committee" to enhance supply chain resilience and security, serving major clients such as KFC, McDonald's, and Starbucks [8] Group 2: Shareholder Information - As of August 31, 2025, the number of shareholders was 27,961 [4][5][6] - The company has not received any recent updates regarding the disposal of assets by the controlling shareholder, and it will continue to monitor the situation and disclose any developments as required [2][9] Group 3: Financial Performance - For the first half of 2025, the company's main business revenue from paper-based functional materials was 272 million, reflecting a year-on-year growth of 9.32% [9] - The company received a dividend income of 24.36 million from its subsidiary, which was not reflected in the interim report, and specific details can be found in the company's half-year report [10]

Market Overview - On August 1, the A-share market saw a total of 51 stocks hit the daily limit up, with 40 stocks remaining after excluding 11 ST stocks, resulting in a limit-up rate of 62.96% [1] Hot Stocks - The stock with the highest limit-up order volume was Victory Energy, with 275,500 hands, followed by Yangzi New Materials, Wenkai Co., and Tianfu Cultural Tourism, with limit-up order volumes of 240,800 hands, 240,000 hands, and 189,900 hands respectively [2] - In terms of limit-up order funds, 17 stocks had order amounts exceeding 100 million yuan, with Beijiajie, Victory Energy, and Jiejia Weichuang leading at 430 million yuan, 385 million yuan, and 249 million yuan respectively [2] Industry Highlights Photovoltaic Sector - On August 1, multiple photovoltaic-related concepts saw collective gains, with the perovskite battery concept index rising by 2.42% and the photovoltaic inverter concept index increasing by 2.03% [3] - Key stocks in the photovoltaic sector included Jiejia Weichuang, which focuses on solar photovoltaic cell equipment and semiconductor equipment [4], and Shuangliang Energy, which specializes in polysilicon reduction furnaces, silicon wafers, and components [5] Pharmaceutical Sector - Notable stocks in the pharmaceutical sector included Qizheng Tibetan Medicine, which has pediatric products and is developing innovative traditional Chinese medicine [6], and Aoyikang, which focuses on innovative drugs and aims to build its own clinical and R&D team [6] Paper Industry - In the paper industry, Kain Co. provides high-end specialty food packaging paper for multinational chains like KFC and Starbucks, while Songyang Resources focuses on the research, production, and sales of environmentally friendly recycled paper [7] Investment Trends - The top net purchases on the Dragon and Tiger list included Jiejia Weichuang with over 100 million yuan, followed by other stocks like Longcheng Military Industry and Yidian Tianxia [8][9] - The net buying from the Shenzhen Stock Connect for Jiejia Weichuang was 172 million yuan, while the Shanghai Stock Connect saw net buying of Shuangliang Energy at 68.6 million yuan [9]