JINJIA(SZ:002191)2023-08-29 09:08Group 1: Financial Performance - The company achieved a revenue of 2.033 billion CNY in the first half of 2023, a decrease of 23.09% compared to the same period last year [3] - The net profit attributable to shareholders was 280 million CNY, down 44.02% year-on-year, while the net profit after deducting non-recurring gains and losses was 267 million CNY, a decrease of 37.13% [3] - Total assets reached 9.850 billion CNY, an increase of 4.38% from the beginning of the reporting period, while equity attributable to shareholders decreased by 5.86% to 7.035 billion CNY [3] Group 2: Segment Performance - The revenue from the cigarette label segment was 826 million CNY, down 25.23%, while the color box segment generated 454 million CNY, down 19.31% [3] - The new materials segment reported revenue of 381 million CNY, a decrease of 28.51%, whereas the new tobacco segment saw a significant increase of 81.77%, reaching 308 million CNY [3] Group 3: Strategic Outlook - The company plans to enhance production capabilities in the cigarette label segment after completing technical upgrades, aiming for improved performance in the second half of the year [4] - The packaging industry is closely linked to consumer goods trends, with a focus on maintaining stable partnerships with major clients in the liquor packaging sector [4] - The new tobacco business is centered on OEM production, with plans to leverage flavor understanding and supply chain services to meet domestic market demands [5] Group 4: Market Expansion and Challenges - The company is expanding its new tobacco business overseas, with operations in Indonesia, which has recently obtained production qualifications [5] - The gross margin for new tobacco products decreased by 3.98% due to changes in business statistics and the inclusion of lower-margin electronic cigarette supply chain revenues [6] - The company emphasizes centralized procurement of raw materials to reduce costs and enhance quality, thereby improving operational efficiency [6]