Group 1 - The core viewpoint of the article highlights the growth in the number of enterprises in the paper and paper products industry, which increased by 143 companies year-on-year, representing a growth rate of 1.79% as of January to October 2025 [1] - The total number of enterprises in the paper and paper products industry reached 8,142, accounting for 1.56% of the total industrial enterprises [1] - The data indicates a shift in the threshold for large-scale industrial enterprises, which was raised from an annual main business income of 5 million yuan to 20 million yuan starting in 2011 [1] Group 2 - The report referenced is titled "Analysis of Development Models and Market Operation Potential of China's Paper Industry from 2026 to 2032" published by Zhiyan Consulting [1] - Zhiyan Consulting is recognized as a leading industry consulting firm in China, specializing in deep industry research and providing comprehensive consulting services [2]

Core Viewpoint - The company has established a "Market Value Management System" in March this year and is committed to advancing its market value management efforts in accordance with this system and relevant laws and regulations [1] Group 1 - The company responded to investor inquiries on an interactive platform regarding its market value management initiatives [1] - The company aims to elevate its market value management practices to a new level [1]

证券日报网讯 12月8日，民丰特纸在互动平台回答投资者提问时表示，在同等条件下，人民币升值有利 于降低公司成本。 （文章来源：证券日报） ...

Overview - Minfeng Special Paper Co., Ltd. plans to publicly auction unused equipment from its Nanhu plant through Jiaxing Property Trading Co., Ltd. The first auction failed to attract any interested buyers, resulting in a failed bid [1][2]. Transaction Summary - The company held its 18th board meeting on September 29, 2025, and the first extraordinary shareholders' meeting on October 15, 2025, where it approved the proposal to publicly auction unused equipment [1]. - The first auction did not attract any interested buyers, leading to a failed bid [1]. - On November 19, 2025, the company held its 20th board meeting and approved a second public auction of the unused equipment, with the auction price reduced by 10% from the initial listing [1][2]. Progress of the Transaction - The second public auction was conducted from November 20 to November 26, 2025, but it also failed to attract any interested buyers, resulting in another failed bid [2]. Future Arrangements - To broaden the audience for the asset sale, the company plans to select other auction platforms for a new public auction, maintaining the same auction price and scope as in the second public auction [3].

Core Viewpoint - Minfeng Special Paper announced the failure of its second asset auction, indicating challenges in asset liquidation and operational adjustments following the closure of its Nanhu plant [2][3] Group 1: Asset Auction Details - The company attempted to sell unused equipment from the Nanhu plant through public auction but failed to attract any bidders in both the first and second rounds [2] - The initial auction price was set at 169,968,254.00 yuan, which was reduced by 10% to 152,971,428.60 yuan for the second auction after the first round ended in failure [2] - The assets for sale included multiple paper machines and other equipment, with some items being removed from the auction list based on the company's needs [3] Group 2: Operational Changes - The Nanhu plant was fully shut down by the end of June this year, with production operations shifting to a modernized facility in Haiyan [2] - The company aims to enhance asset efficiency and liquidity through the sale of these unused assets [2] Group 3: Financial Performance - For the first three quarters of 2025, the company reported a total revenue of 889 million yuan, a year-on-year decrease of 23.61%, and a net profit of 18.64 million yuan, down 69.43% year-on-year [3] - As of November 27, the company's stock price increased by 1.19%, closing at 6.79 yuan per share, with a total market capitalization of 2.385 billion yuan [3]

Core Viewpoint - Minfeng Special Paper's assets are being auctioned off due to operational shifts, with two rounds of auctions resulting in no buyers, prompting a price reduction for the second attempt [1][2]. Group 1: Auction Details - The company announced a second auction for unused assets from the Nanhu plant, which has been fully shut down since June 2023, with the initial auction price set at 169,968,254.00 yuan, later reduced by 10% to 152,971,428.60 yuan after the first auction failed [1][2]. - The assets for sale include multiple paper machines and other equipment, with some items being removed from the auction list based on the company's needs [2]. Group 2: Financial Performance - For the first three quarters of 2025, the company reported a total revenue of 889 million yuan, a year-on-year decrease of 23.61%, and a net profit attributable to shareholders of 18.64 million yuan, down 69.43% compared to the previous year [2]. Group 3: Market Reaction - As of November 27, the company's stock price increased by 1.19%, closing at 6.79 yuan per share, with a total market capitalization of 2.385 billion yuan [3].

证券代码：600235 证券简称：民丰特纸 编号：2025-039 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个别及连带责任。 重要内容提示： 民丰特种纸股份有限公司 关于公开挂牌出售不再使用设备的进展公告 民丰特种纸股份有限公司（以下简称"民丰特纸"或"公司"）拟将南湖厂 区不再使用设备等资产通过嘉兴市产权交易有限公司（以下简称"嘉兴产权公司"） 以公开挂牌方式进行第二次出售。本次拍卖在信息披露期满未征集到意向受让方， 拍卖结果为流拍。 一、本次交易概述 公司于2025年9月29日召开九届董事会第十八次会议、2025年10月15日召开 2025年度第一次临时股东会，审议通过了《民丰特纸关于拟公开挂牌出售不再使 用设备的议案》。公司拟将南湖厂区不再使用设备等资产通过嘉兴产权公司以公 开挂牌方式出售。本次拍卖在信息披露期满未征集到意向受让方，拍卖结果为流 拍。 公司于2025年11月19日召开了第九届董事会第二十次会议，审议通过了《民 丰特纸关于第二次公开挂牌出售不再使用设备的议案》。公司拟将上述南湖厂区 不再使用设备等资产继续通过嘉 ...

Group 1 - The core business of the company is the research, production, and sales of paper and paper products [1] - The main customers include China National Tobacco Corporation, label manufacturers, and paper distributors [1]

（文章来源：证券日报） 证券日报网讯民丰特纸11月24日在互动平台回答投资者提问时表示，根据补偿协议，公司在收到南湖厂 区的第一笔拆迁补偿款后，将专项用于土壤污染调查和修复，若有多余可用于生产经营。 ...

Market Overview - The paper sector experienced a decline of 2.79% on November 21, with Qingshan Paper leading the drop [1] - The Shanghai Composite Index closed at 3834.89, down 2.45%, while the Shenzhen Component Index closed at 12538.07, down 3.41% [1] Individual Stock Performance - Qingshan Paper (600103) saw a significant drop of 6.30%, closing at 3.42, with a trading volume of 1.74 million shares and a turnover of 609 million yuan [2] - Other notable declines included Minfeng Special Paper (600235) down 6.13% to 6.58, and Hengda New Materials (301469) down 5.74% to 28.25 [2] - Annie Co. (002235) was one of the few gainers, increasing by 1.29% to 8.62, with a trading volume of 2.09 million shares and a turnover of 1.82 billion yuan [1] Capital Flow Analysis - The paper sector saw a net outflow of 347 million yuan from institutional investors, while retail investors contributed a net inflow of 282 million yuan [2] - The main capital inflow was observed in stocks like Huawang Technology (605377) with a net inflow of 5.94 million yuan, while stocks like Qingshan Paper experienced a net outflow of 510,900 yuan [3]