格隆汇8月27日丨恒丰纸业(600356.SH)公布半年度报告，坚持以市场为导向，以效益为核心。报告期 内，公司实现营业收入135,329万元，同比增长12.78%；归属于上市公司股东的净利润9,494万元，同比 增长69.06%；归属于上市公司股东的扣除非经常性损益的净利润8,538万元，同比增长96.57%；总体来 看，上半年，公司积极把握市场节奏，持续推进精益化管理，有效降低原材料及能源消耗，优化供应链 管理及加强存货周转，严控采购成本和运营费用，公司核心业务盈利能力稳步增长，经营业绩同比实现 强劲上升。 ...

智通财经APP讯，恒丰纸业(600356.SH)发布2025年半年度报告，报告期内，公司实现营业收入13.53亿 元，同比增长12.78%。实现归属于上市公司股东的净利润9493.67万元，同比增长69.06%。实现归属于 上市公司股东的扣除非经常性损益的净利润8537.86万元，同比增长96.57%。基本每股收益0.32元。 ...

Financial Performance - The company's operating revenue for the first half of 2025 reached CNY 1,353,286,955.21, representing a 12.78% increase compared to CNY 1,199,960,917.58 in the same period of 2024[17]. - The total profit for the reporting period was CNY 105,302,396.52, a significant increase of 57.62% from CNY 66,808,261.61 in the previous year[17]. - The net profit attributable to shareholders was CNY 94,936,742.56, up 69.06% from CNY 56,156,614.38 year-on-year[17]. - Basic earnings per share rose to CNY 0.32, reflecting a 68.42% increase from CNY 0.19 in the previous year[18]. - The total profit for the first half of 2025 was CNY 116,597,261.19, up from CNY 68,271,634.47 in the first half of 2024, marking an increase of 70.9%[95]. - The company's operating profit for the first half of 2025 was CNY 116,196,132.57, an increase of 73.5% from CNY 66,912,945.12 in the first half of 2024[95]. - The company reported a significant decrease in credit impairment losses, with a loss of CNY 6,532,003.83 in the first half of 2025 compared to a gain of CNY 1,861,161.79 in the same period of 2024[95]. Cash Flow - The net cash flow from operating activities increased by 98.17%, reaching CNY 147,387,913.77 compared to CNY 74,373,285.71 in the same period last year[17]. - Operating cash inflow for the first half of 2025 reached ¥1,633,555,966.52, a 30% increase from ¥1,254,188,244.33 in the first half of 2024[97]. - Cash inflow from financing activities amounted to ¥306,374,403.62, slightly increasing from ¥304,643,280.50 in the previous year[98]. - The ending balance of cash and cash equivalents was ¥439,800,572.10, up from ¥337,915,694.11 at the end of the first half of 2024, representing a 30% increase[98]. - Cash outflow for purchasing goods and services was ¥1,138,027,690.36, up from ¥871,536,440.04, indicating a 30.6% rise[97]. Assets and Liabilities - Total assets increased by 5.49%, reaching CNY 3,663,249,136.16 compared to CNY 3,472,618,236.40 at the end of the previous year[17]. - The company's total current assets as of June 30, 2025, amount to ¥2,157,122,927.70, an increase from ¥1,987,053,518.58 as of December 31, 2024[82]. - Current liabilities totaled ¥636,443,595.63, an increase from ¥555,033,774.48, representing a rise of 14.6%[87]. - Non-current liabilities increased to ¥293,761,579.03 from ¥258,433,456.78, marking a growth of 13.7%[88]. - The company's total equity reached ¥2,685,234,518.24, up from ¥2,576,438,981.66, reflecting an increase of 4.2%[88]. Research and Development - Research and development expenses for the first half of 2025 were ¥44,527,130.83, slightly higher than ¥42,629,533.66 in the same period of 2024[90]. - The company has filed 5 new invention patent applications and received 1 authorization during the reporting period, emphasizing its commitment to technological innovation[33]. - The company is actively pursuing digital transformation, enhancing R&D, design, and production capabilities, and has been recognized as a national-level intelligent factory[33][36]. Market and Product Development - The company specializes in the production of specialty paper, including tobacco industrial paper, which is its main product line[27]. - New tobacco paper products are being developed, including specialized base paper and sealing paper, to meet market demands[29]. - The company aims to strengthen cooperation with domestic and international tobacco companies to advance new tobacco technology innovations[29]. - The company launched new products including smoke-free eco-friendly moxibustion paper and medical absorbent paper, which have received patents and industry recognition[30][32]. Corporate Governance and Compliance - The company has committed to maintaining its independence, ensuring that key management personnel do not hold positions in other companies controlled by the parent company[55]. - The company guarantees the independence of its financial department and accounting system, ensuring compliance with regulations[56]. - The company has established a complete and independent asset management system, ensuring that all assets are under its control[56]. - The company has made commitments to avoid competition with its parent company and ensure operational independence[54]. Risks and Challenges - The company faces risks from macroeconomic fluctuations, intensified market competition, and raw material price volatility[42][43]. - The company has not engaged in any non-operational fund occupation by controlling shareholders or related parties during the reporting period[62]. - There are no significant lawsuits or arbitration matters reported during the reporting period[62]. Taxation and Government Grants - The company obtained a high-tech enterprise certificate valid for three years, allowing a reduced corporate income tax rate of 15% for the years 2023-2025[196]. - The company reported a cash balance of approximately ¥442.87 million at the end of the period, an increase from ¥320.76 million at the beginning of the period, representing a growth of about 38.1%[199]. - Government grants are recognized when the company meets the conditions attached to the grants and can receive them, measured at the amount received or receivable[186].

恒丰纸业公告，2025年上半年营业收入13.53亿元，同比增长12.78%。净利润9493.67万元，同比增长 69.06%。基本每股收益0.32元／股，同比增长68.42%。 ...

Core Viewpoint - The report highlights the growth trajectory of China's paper and paperboard production, projecting a production volume of 13.99 million tons by June 2025, reflecting a year-on-year increase of 3.1% [1] Industry Summary - According to the National Bureau of Statistics, the cumulative production of paper and paperboard (excluding purchased raw paper processing) in China for the first half of 2025 is expected to reach 79.33 million tons, with a cumulative growth rate of 3.2% [1] - The report provides a comprehensive market survey and development outlook for the paper industry in China from 2025 to 2031, indicating a sustained focus on industry research and analysis [1] Company Summary - Listed companies in the paper industry include Sun Paper Industry (002078), Chenming Paper (000488), Bohui Paper (600966), Yueyang Forest & Paper (600963), Shanying International (600567), and Hengfeng Paper (600356) [1] - The report emphasizes the importance of industry insights and tailored consulting services for investment decision-making in the paper sector [1]

Group 1 - The paper sector experienced a rise of 0.94% on August 25, with Songyang Resources leading the gains [1] - The Shanghai Composite Index closed at 3883.56, up 1.51%, while the Shenzhen Component Index closed at 12441.07, up 2.26% [1] - Notable stock performances included Songyang Resources with a closing price of 19.69, up 6.89%, and Hengfeng Paper with a closing price of 9.79, up 5.50% [1] Group 2 - The paper sector saw a net outflow of 60.37 million yuan from institutional funds and 34.82 million yuan from speculative funds, while retail investors contributed a net inflow of 95.19 million yuan [3]

Core Viewpoint - The paper industry sector experienced a 0.5% increase on August 20, with Annie Co. leading the gains, while the overall market indices also showed positive performance [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 3766.21, up 1.04% [1]. - The Shenzhen Component Index closed at 11926.74, up 0.89% [1]. Group 2: Individual Stock Performance - Annie Co. (002235) closed at 9.04, with a rise of 4.15%, and a trading volume of 1.4162 million shares, totaling a transaction value of 1.258 billion [1]. - BoHui Paper (600966) closed at 5.31, up 3.31%, with a trading volume of 204,000 shares, totaling 106 million [1]. - QiFeng New Materials (002521) closed at 9.07, increasing by 2.14%, with a trading volume of 114,200 shares, totaling 104 million [1]. - Forest Packaging (605500) closed at 10.24, up 1.69%, with a trading volume of 147,300 shares, totaling 150 million [1]. - Hengfeng Paper (600356) closed at 9.28, increasing by 1.64%, with a trading volume of 49,900 shares, totaling 45.9795 million [1]. - Minfeng Special Paper (600235) closed at 6.63, up 1.38%, with a trading volume of 78,900 shares, totaling 52.0111 million [1]. - Yibin Paper (600793) closed at 25.59, increasing by 1.35%, with a trading volume of 69,800 shares, totaling 178 million [1]. - Qingshan Paper (600103) closed at 2.36, up 1.29%, with a trading volume of 489,200 shares, totaling 1.15 billion [1]. - Rongsheng Environmental Protection (603165) closed at 12.55, increasing by 1.13%, with a trading volume of 36,600 shares, totaling 45.8246 million [1]. - Guanmeng High-tech (600433) closed at 3.17, up 0.96%, with a trading volume of 185,600 shares, totaling 58.3962 million [1]. Group 3: Capital Flow - The paper sector saw a net inflow of 101 million from main funds, while retail funds experienced a net outflow of 11.7049 million [2].

Market Overview - The paper sector increased by 0.57% on August 18, with Hengda New Materials leading the gains [1] - The Shanghai Composite Index closed at 3728.03, up 0.85%, while the Shenzhen Component Index closed at 11835.57, up 1.73% [1] Individual Stock Performance - Hengda New Materials (301469) closed at 31.69, up 5.95% with a trading volume of 50,600 and a turnover of 158 million [1] - ST Morning (000488) closed at 2.30, up 3.60% with a trading volume of 477,500 and a turnover of 109 million [1] - BoHui Paper (600966) closed at 5.17, up 2.78% with a trading volume of 315,500 and a turnover of 164 million [1] - Other notable performers include Minshida (833394) up 2.67%, Huawang Technology (605377) up 2.58%, and Hengfeng Paper (600356) up 2.46% [1] Capital Flow Analysis - The paper sector experienced a net outflow of 57.59 million from institutional investors and 13.46 million from speculative funds, while retail investors saw a net inflow of 71.05 million [2] - Notable net inflows from retail investors were observed in Sun Paper (002078) with 49.32 million, and Hengfeng Paper (600356) with 14.96 million [3] - Conversely, significant net outflows from institutional investors were noted in Sun Paper (-36.67 million) and Hengda New Materials (-28.62 million) [3]

Core Viewpoint - The company, Mudanjiang Hengfeng Paper Co., Ltd., is seeking to acquire 100% equity of Sichuan Jinfeng Paper Co., Ltd. through a share issuance, but has received an inquiry from the Shanghai Stock Exchange requiring further clarification and has applied for an extension to respond [1][2]. Group 1 - The company received an inquiry letter from the Shanghai Stock Exchange on July 9, 2025, regarding its application for the acquisition and related transactions [1]. - The company is required to provide a written response to the inquiry within a maximum of one month, but has applied for a one-month extension due to the need for further verification of certain matters [2]. - The transaction is subject to approval from the Shanghai Stock Exchange and the China Securities Regulatory Commission before it can be implemented [2].

股票代码：600356 股票简称：恒丰纸业 编号：2025-041 公司在收到《审核问询函》后，立即会同相关中介机构进行了认真研究和落实。 鉴于《审核问询函》涉及的部分事项还需进一步落实，预计无法在规定时间内向上 交所提交完整的书面回复及相关文件。为切实稳妥做好《审核问询函》回复等相关 工作，经与本次交易的各方及有关中介机构审慎协商，公司已向上交所提交延期回 复的书面申请，申请自《审核问询函》回复届满之日起延期不超过 1 个月提交《审 核问询函》的书面回复等相关文件，并及时履行信息披露义务。 公司本次交易事项尚需经上海证券交易所审核，并获得中国证券监督管理委员 会同意注册后方可实施。公司将根据该事项的进展情况，按照相关规定和要求及时 履行信息披露义务，敬请广大投资者注意投资风险。 特此公告。 1 牡丹江恒丰纸业股份有限公司 董事会 牡丹江恒丰纸业股份有限公司 关于延期回复《关于牡丹江恒丰纸业股份有限公司发行 股份购买资产暨关联交易申请的审核问询函》的公告 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。 牡丹江恒丰纸业股份 ...