Company Information - 74Software is an enterprise software group formed by the merger of Axway and SBS, specializing in mission-critical software for a data-driven world [3] - Axway has been a pioneer in enterprise integration solutions for 25 years, providing services to major brands and government agencies globally [3] - SBS focuses on empowering banks and financial institutions with a cloud-based architecture for various financial services [3] - The company serves over 11,000 clients, including more than 1,500 in the financial services sector [3] Voting Rights and Shares - As of July 31, 2025, the total number of shares is 29,746,194 [5] - The total number of theoretical voting rights is 41,292,614 [5] - The number of exercisable voting rights is 40,810,240, which includes shares with suspended voting rights [1]

Core Insights - 74Software has published its Interim Financial Report for the first half of 2025, which is now available to the public and filed with the Autorité des Marchés Financiers (AMF) [1] Company Overview - 74Software is an enterprise software group formed from the merger of Axway and SBS, both of which are leaders in their respective fields, providing mission-critical software solutions [2] - Axway has been a pioneer in enterprise integration solutions for 25 years, offering products such as MFT, B2B, API, and Financial Accounting Hub to major brands and government agencies globally [2] - SBS focuses on empowering banks and financial institutions with a cloud-based architecture that supports various financial services, including deposits, lending, compliance, payments, and asset finance [2] - The company serves over 11,000 clients, including more than 1,500 in the financial services sector [2]

Core Viewpoint - Shenzhou Holdings announced that its subsidiary KJ has won the bid for China Mobile's national logistics centralized service procurement project for 2025 to 2026, with a total budget exceeding 424 million yuan [1] Group 1: Company Overview - KJ is a logistics supply chain enterprise under Shenzhou Holdings [1] - The project will provide integrated B2B and B2C supply chain services across the country for China Mobile [1]

Group 1 - The liquidity contract between 74Software and Kepler Cheuvreux was reviewed, with specific trading volumes and cash amounts reported as of June 30, 2025 [1] - As of June 30, 2025, the liquidity account included 15,512 shares valued at 996,585.86 euros and 19,820 shares valued at 838,684.39 euros [5] - The report indicates that 36,191 shares were purchased for 1,138,124.19 euros and 40,499 shares were sold for 1,289,318.95 euros during the reporting period [5] Group 2 - 74Software is an enterprise software group formed from the merger of Axway and SBS, focusing on mission-critical software solutions [3] - The company serves over 11,000 clients, including more than 1,500 in the financial services sector, highlighting its significant market presence [3]

Company Information - 74Software is an enterprise software group formed from the merger of Axway and SBS, specializing in mission-critical software for a data-driven world [3] - Axway has been a pioneer in enterprise integration solutions for 25 years, providing services to major brands and government agencies globally [3] - SBS focuses on empowering banks and financial institutions with a cloud-based architecture for various financial services [3] - The company serves over 11,000 clients, including more than 1,500 in the financial services sector [3] Voting Rights and Shares - As of June 30, 2025, the total number of shares is 29,746,194 [5] - The total number of theoretical voting rights is 41,294,444 [5] - The number of exercisable voting rights is 40,813,815, which includes shares with suspended voting rights [1]

Core Insights - 74Software has appointed Julia Siepmann as Group Chief Human Resources Officer, effective May 19, 2025, marking a significant step in the company's development [1][3] - Julia Siepmann brings over 20 years of global experience in strategic human resources management, particularly in technology-driven companies undergoing transformation [2][3] - The appointment aims to enhance organizational performance, support talent development, and foster a company culture rooted in respect, equity, and well-being [3][4] Company Overview - 74Software is an enterprise software group formed through the combination of Axway and SBS, focusing on delivering mission-critical software for a data-driven world [5] - The company serves over 11,000 clients, including more than 1,500 financial service customers, showcasing its extensive reach in the market [7] - The executive committee now consists of 9 members representing 4 nationalities, indicating a diverse leadership team [4][6]

Core Viewpoint - Shanghai Kaijie E-commerce Co., Ltd. (Kaijie E-commerce) has submitted its prospectus for an IPO on the Hong Kong Stock Exchange, marking its second attempt at going public after withdrawing its A-share application in 2021 [1][4]. Company Overview - Established in 2010, Kaijie E-commerce is a comprehensive e-commerce service provider, offering B2B and B2C sales as well as data-driven creative marketing services [1]. - According to data from ZhiShi Consulting, Kaijie E-commerce is the fifth largest digital retail solution provider in China and the largest O2O digital retail solution provider based on GMV projections for 2024 [1]. Previous IPO Attempts - Kaijie E-commerce first entered the New Third Board in May 2016 but voluntarily delisted in July 2019 to streamline operations and reduce costs [2]. - After two years, the company attempted to list on the A-share market in June 2021 but withdrew its application in December 2021 before completing the inquiry process [3]. Reasons for Switching to Hong Kong - The company cited low liquidity of shares on the New Third Board as a barrier to public financing and business growth [4]. - Listing on the Hong Kong Stock Exchange is seen as a way to enhance financing capabilities, expand the shareholder base, and improve international market recognition [4]. Financial Performance - Kaijie E-commerce has experienced a decline in both revenue and net profit for three consecutive years from 2022 to 2024, with revenues of 1.829 billion, 1.723 billion, and 1.699 billion yuan respectively, and net profits of 86.47 million, 67.59 million, and 60.43 million yuan [5][6]. - The company's gross profit margin has also decreased from 24% in 2022 to 21.8% in 2024 [8]. Client Base Changes - Previously, Colgate was one of Kaijie E-commerce's top five clients, contributing sales of 38.57 million, 42.04 million, and 59.10 million yuan from 2018 to 2020, but is no longer among the top clients [9][8]. Industry Context - The beauty e-commerce service industry is facing significant challenges, with many operators, including Kaijie E-commerce, reporting declining revenues and profits [15]. - Among six listed beauty e-commerce operators, only Ruoyuchen has shown revenue growth in 2024 and the first quarter of 2025, while others have experienced varying degrees of decline [16][17].

Group 1 - 74Software has been included in the Euronext Tech Leaders segment, recognizing its commitment to excellence in enterprise software development and digital innovation for nearly 25 years [1][4] - The Euronext Tech Leaders initiative, launched in June 2022, aims to support high-growth tech companies listed on Euronext markets, featuring 110 European companies and providing services and visibility opportunities [2][3] - The 2025 annual review of the Euronext Tech Leaders segment added eight new companies from various sectors, including Aerospace & Defence, Biotech, Cleantech, Hardware, and Software [3] Group 2 - 74Software is formed from the combination of Axway and SBS, delivering mission-critical software solutions and serving over 11,000 companies, including more than 1,500 financial service customers [5]

Company Information - 74Software is an enterprise software group formed by the merger of Axway and SBS, specializing in mission-critical software for a data-driven world [3] - Axway has been a pioneer in enterprise integration solutions for 25 years, providing services to major brands and government agencies globally [3] - SBS focuses on empowering banks and financial institutions with a cloud-based architecture for various financial services [3] - The company serves over 11,000 clients, including more than 1,500 in the financial services sector [3] Voting Rights and Shares - As of May 31, 2025, the total number of shares is 29,746,194 [5] - The total number of theoretical voting rights is 41,294,970 [5] - The number of exercisable voting rights is 40,813,565, which includes shares with suspended voting rights [1]