Core Viewpoint - The company, Fujian Qingshan Paper Co., Ltd., announced the repurchase and cancellation of 12,428,300 restricted stocks due to unmet performance targets for the 2024 fiscal year and the death of one incentive recipient [2][4][11] Group 1: Reasons for Repurchase and Cancellation - The repurchase and cancellation of restricted stocks were triggered by the company's failure to meet the performance assessment requirements set in the 2024 restricted stock incentive plan [2][5] - The death of one incentive recipient led to the cancellation of 215,000 restricted stocks that had not yet been released from restrictions [4][5] Group 2: Details of the Repurchase - A total of 171 incentive recipients are involved in this repurchase, with 12,428,300 restricted stocks being canceled [8] - The repurchase price will be the lower of the grant price and the market price at the time of repurchase [5] Group 3: Performance Metrics - The company's net asset return rate for 2024 was 1.32%, with a growth rate of -59.34% compared to the average from 2021 to 2023, which was below the required 9% [7] - The adjusted net profit for 2024 was approximately 51.51 million, with a growth rate of -57.39% compared to the average from 2021 to 2023, falling short of the 15% target [7] Group 4: Future Actions - The company has opened a special securities account for the repurchase and plans to complete the cancellation by August 11, 2025 [9] - Following the cancellation, the remaining restricted stocks will total 28,497,700 [8] Group 5: Legal Compliance - The company confirmed that the decision-making process and information disclosure regarding the repurchase comply with relevant laws and regulations [10][11] - The company has committed to ensuring the accuracy and completeness of the information related to the repurchase and will bear legal responsibility for any disputes arising from it [10][11]

证券代码：600103 证券简称：青山纸业 公告编号：临 2025-035 福建省青山纸业股份有限公司 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： ●回购注销原因：鉴于 2024 年度福建省青山纸业股份有限公司（以下简称 "公司"）层面业绩未达到 2024 年限制性股票激励计划的业绩考核要求、2024 年限制性股票激励计划中授予的 1 名激励对象逝世，公司对上述 171 名对象涉及 的已获授但尚未解除限售的 12,428,300 股限制性股票进行回购注销处理。 ●本次注销股份的有关情况 回购股份数量 注销股份数量 注销日期 一、本次限制性股票回购注销的决策与信息披露 （一）2025 年 6 月 13 日，公司召开十届二十四次董事会和十届二十三次监 事会，审议通过《关于回购注销部分 2024 年限制性股票的议案》，具体内容详见 公司于 2025 年 6 月 14 日在上海证券交易所网站（www.sse.com.cn）披露的《福 建省青山纸业股份有限公司关于回购注销部分 2024 年限制性股票的公告》 （公告 ...

证券日报网讯 8月6日晚间，青山纸业发布公告称，鉴于2024年度公司层面业绩未达到2024年限制性股 票激励计划的业绩考核要求、2024年限制性股票激励计划中授予的1名激励对象逝世，公司对上述171名 对象涉及的已获授但尚未解除限售的12，428，300股限制性股票进行回购注销处理。注销日期：2025年 8月11日。 （文章来源：证券日报） ...

证券代码：600103 证券简称：青山纸业 公告编号：临 2025-035 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： ●回购注销原因：鉴于 2024 年度福建省青山纸业股份有限公司（以下简称 "公司"）层面业绩未达到 2024 年限制性股票激励计划的业绩考核要求、2024 年限制性股票激励计划中授予的 1 名激励对象逝世，公司对上述 171 名对象涉及 的已获授但尚未解除限售的 12,428,300 股限制性股票进行回购注销处理。 ●本次注销股份的有关情况 | 回购股份数量 | | 注销股份数量 | | 注销日期 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 12,428,300 | 股 | 12,428,300 | 股 | 2025 年 8 | 月 | 11 | 日 | 一、本次限制性股票回购注销的决策与信息披露 （一）2025 年 6 月 13 日，公司召开十届二十四次董事会和十届二十三次监 事会，审议通过《关于回购注销部分 2 ...

关于福建省青山纸业股份有限公司回购注销 2024 年限制性股票激励计划部分限制性股票事项的 法 律 意 见 书 福建至理律师事务所 地址：福州市鼓楼区洪山园路华润万象城三期 TB#写字楼 22 层 邮政编码：350025 电话：（0591）8806 5558 传真：（0591）8806 8008 网址：http://www.zenithlawyer.com 福建至理律师事务所 关于福建省青山纸业股份有限公司回购注销 2024 年限制性股票激励计划部分限制性股票事项的 法律意见书 闽理非诉字〔2025〕第 2024020-03 号 致：福建省青山纸业股份有限公司 福建至理律师事务所（以下简称"本所"）依法接受福建省青山纸业股份有 限公司（以下简称"青山纸业"或"公司"）的委托，根据《中华人民共和国证 券法》（以下简称《证券法》）、《中华人民共和国公司法》（以下简称《公司法》）、 中国证券监督管理委员会（以下简称中国证监会）《上市公司股权激励管理办法》 （以下简称《管理办法》）、《国有控股上市公司（境内）实施股权激励试行办法》 （国资发分配〔2006〕175 号）等有关法律、法规和规范性文件的规定，按照律 师行业 ...

Core Viewpoint - The demand for waste paper pulp is surging due to the rapid growth of e-commerce and logistics in China, driven by a stable domestic economy and supportive government policies promoting recycling and circular economy initiatives [1][12][21]. Industry Overview - Waste paper pulp, also known as recycled pulp, is produced from waste paper and cardboard through various processing techniques. The production methods include dry and wet processes, with dry methods being more cost-effective [3][7]. - The production of waste paper pulp in China is projected to increase from 54.44 million tons in 2018 to 63.18 million tons by 2024, reflecting a compound annual growth rate (CAGR) of 2.5% [1][12]. Market Dynamics - The "ban on waste" policy has led to a complete halt in imported waste paper, exacerbating the shortage of virgin pulp and prompting companies to ramp up waste paper pulp production to meet market demands [1][12]. - The waste paper recovery volume in China is expected to reach 69.71 million tons by 2024, with a recovery rate of 51.1% and a utilization rate of 51.6% [10]. Government Policies - The Chinese government has implemented various policies to support the recycling industry, including the "14th Five-Year Plan" which emphasizes the establishment of a comprehensive recycling system for waste materials [5][6]. - Recent policies encourage the deep processing of recycled resources, including waste paper, to enhance the recycling industry's efficiency and output [5][6]. Competitive Landscape - The waste paper pulp industry features a diverse competitive landscape, with both large enterprises and small to medium-sized companies. Major players include Shanying International, Sun Paper, and Chenming Paper [16][17]. - The industry is expected to undergo consolidation, driven by policy and capital influences, leading to increased market concentration [16]. Future Trends - The waste paper pulp industry is anticipated to maintain steady growth, supported by increasing consumer demand for eco-friendly products and ongoing government initiatives [21]. - Future production will focus on green and intelligent manufacturing, with investments in environmental technologies and automation to enhance efficiency and reduce emissions [22][23]. - The collaboration across the waste paper recycling supply chain is expected to strengthen, improving the overall recovery and utilization rates of waste paper [24].

Group 1 - The core viewpoint of the article highlights the recent performance and financial metrics of Qingshan Paper Industry, indicating a mixed financial outlook with a decrease in revenue but an increase in net profit [1] - As of August 5, 2025, Qingshan Paper's stock closed at 2.31 yuan, reflecting a 1.32% increase, with a trading volume of 286,700 hands and a transaction amount of 65.8985 million yuan [1] - The company's latest quarterly report shows total revenue of 627 million yuan, a year-on-year decrease of 5.93%, while net profit attributable to shareholders reached 30.6869 million yuan, a year-on-year increase of 41.63% [1] Group 2 - Qingshan Paper has a current liquidity ratio of 2.094 and a quick ratio of 1.796, indicating a strong short-term financial position [1] - The company has a debt-to-asset ratio of 30.28%, suggesting a moderate level of financial leverage [1] - Qingshan Paper has made investments in 24 companies and participated in 5,000 bidding projects, showcasing its active engagement in the market [2]

Market Overview - On August 4, the paper sector rose by 0.12% compared to the previous trading day, with Kane Co. leading the gains [1] - The Shanghai Composite Index closed at 3583.31, up 0.66%, while the Shenzhen Component Index closed at 11041.56, up 0.46% [1] Individual Stock Performance - Kane Co. (002012) closed at 6.31, with a gain of 5.87% and a trading volume of 994,100 shares, amounting to a transaction value of 625 million [1] - ST Morning (000488) closed at 2.05, up 3.02%, with a trading volume of 425,400 shares and a transaction value of 86.34 million [1] - Xianhe Co. (603733) closed at 22.00, increasing by 2.28%, with a trading volume of 40,900 shares and a transaction value of 89.94 million [1] - Other notable stocks include Minfeng Special Paper (600235) with a closing price of 6.57, up 1.23%, and Hengda New Materials (301469) at 27.97, up 1.05% [1] Capital Flow Analysis - The paper sector experienced a net outflow of 81.62 million from institutional investors, while retail investors saw a net inflow of 43.91 million [2] - Notable net inflows from retail investors were observed in ST Morning (000488) with 12.04 million and Xianhe Co. (603733) with 474.99 million [3] - Conversely, significant net outflows were recorded for Sun Paper (002078) with -26.84 million from institutional investors and -34.59 million from retail investors [3]

Core Viewpoint - Fujian Qingshan Paper Co., Ltd. announced the completion of the registration of the free transfer of 100% equity of Fujian Light Textile (Holding) Co., Ltd. to Fujian Industrial Holding Group Co., Ltd., making the latter an indirect controlling shareholder of the company with an 18.95% stake [1][2]. Group 1 - The transfer of equity is part of the establishment of Fujian Industrial Holding Group Co., Ltd. as a state-owned enterprise under the supervision of the Fujian Provincial State-owned Assets Supervision and Administration Commission [1]. - The free transfer of 100% equity of Fujian Light Textile to Fujian Industrial Holding Group has been completed, and the new business license has been issued by the Fujian Provincial Market Supervision Administration [2]. - Following this transfer, Fujian Light Textile remains the controlling shareholder, and the actual controller continues to be the Fujian Provincial State-owned Assets Supervision and Administration Commission [2].

具体内容详见福建省青山纸业股份有限公司（以下简称公司）在上 海 证 券 交 易 所 网 站（www.sse.com.cn）披露的《关于控股股东重组的提示性公告》 （公告编号：临 2025-024）、《关于控股股东股权无偿划转的提示性公告》（公 告编号：临 2025-032）及《详式权益变动报告书（福建省工业控股集团有限公 司）》。 2025 年 7 月 25 日，公司收到控股股东福建轻纺《关于省国资委组建福建省 工业控股集团有限公司有关股权划转事项完成工商变更登记的通知》（闽轻纺函 企〔2025〕5 号），福建轻纺 100%股权无偿划转至省工控集团的工商变更登记手 续已办理完毕，并已取得福建省市场监督管理局换发的《营业执照》。 本次划转完成后，省工控集团间接拥有公司 18.95%股份的权益，成为公司 的间接控股股东。本次无偿划转不会导致公司控股股东及实际控制人发生变化， 公司的控股股东仍为福建省轻纺（控股）有限责任公司，实际控制人仍为福建省 国资委。 特此公告。 证券代码：600103 证券简称：青山纸业 公告编号：临 2025-034 福建省青山纸业股份有限公司 关于间接控股股东股权无偿划转 完成工商变更登 ...