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].

Group 1 - The core point of the news is that Guanhao High-tech (600433) has seen a net financing purchase of 448.42 million yuan on August 18, 2025, with a financing balance of 3.11 billion yuan, indicating a positive trend in investor sentiment [1][2][3] - In the last three trading days, the cumulative net purchase reached 1.22 million yuan, and in the past 20 trading days, there were 11 days with net financing purchases, suggesting sustained interest from investors [1][2] - The financing balance increased by 1.46% compared to the previous day, reflecting a growing confidence in the stock [3] Group 2 - The financing net purchases on August 18 amounted to 448.42 million yuan, which is 5.68% of the circulating market value [2] - The financing balance on August 15 was 3.07 billion yuan, with a net purchase of 597.18 million yuan, indicating a consistent upward trend in financing activities [2] - The overall margin trading balance on August 18 was 3.11 billion yuan, showing a positive change of 448.43 million yuan, or 1.46% [3]

Group 1 - The stock price of Guanhao High-tech closed at 3.16 yuan on August 7, down 0.02 yuan, representing a decline of 0.63% from the previous trading day [1] - The trading volume on that day was 160,153 hands, with a transaction amount reaching 0.51 billion yuan [1] - Guanhao High-tech is primarily engaged in the research, production, and sales of specialty paper and carbonless copy paper, with applications in commercial invoices, logistics labels, and office automation [1] Group 2 - As a significant player in the domestic specialty paper industry, Guanhao High-tech holds a certain influence in niche markets [1] - On August 7, the company clarified on its investor interaction platform that it does not engage in any currency printing-related business, responding to inquiries about its capability to produce banknote printing paper [1]

证券日报网讯冠豪高新（600433）8月7日在互动平台回答投资者提问时表示，目前公司未涉及印钞相关 业务。 ...

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 - The legal opinion letter confirms that the second extraordinary general meeting of Guangdong Guanhao High-tech Co., Ltd. held on July 17, 2025, was convened and conducted in accordance with Chinese laws and regulations, as well as the company's articles of association [2][5][9]. Meeting Procedures - The meeting was convened based on a resolution from the sixth meeting of the ninth board of directors and was announced 15 days prior to the meeting date [5][6]. - The meeting included one agenda item: the proposal to renew the financial service agreement with Chengtong Financial Co., Ltd. [5][6]. Attendance and Voting - A total of 376 shareholders and their proxies attended the meeting, representing 16,500 shares, which is 0.001% of the total voting shares [7]. - The online voting system allowed 373 shareholders to participate, representing 123,057,870 shares, or 11.74% of the total voting shares [7][10]. Voting Results - The voting results showed that 118,277,823 shares (96.12%) approved the proposal, while 4,264,526 shares (3.4654%) opposed it, and 515,521 shares (0.4190%) abstained [9][10]. - The voting process was conducted in compliance with relevant laws and the company's articles of association, ensuring the legitimacy of the results [9][10]. Conclusion - The legal opinion concludes that the meeting's convening, procedures, attendance, and voting results are all in compliance with Chinese laws and the company's articles of association [10].

证券代码：600433 证券简称：冠豪高新 公告编号：2025-030 广东冠豪高新技术股份有限公司 2025年第二次临时股东大会决议公告 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法律责任。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会由公司董事会召集，由公司董事长李飞先生主持。大会采取现 场投票与网络投票相结合的表决方式，符合《公司法》及《公司章程》的规定。 (五)公司董事、监事和董事会秘书的出席情况 二、 议案审议情况 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： (一)股东大会召开的时间：2025 年 7 月 17 日 (二)股东大会召开的地点：广东省广州市海珠区海洲路 18 号 TCL 大厦 26 层公司 会议室 | 1、出席会议的股东和代理人人数 | 376 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 123,057,870 | | 3、出席会议 ...

北京市朝阳区建外大街丁 12 号英皇集团中心 8、9、11 层 8/9/11/F, Emperor Group Centre, No.12D, Jianwai Avenue, Chaoyang District, Beijing, 100022, P.R.China 电话/Tel.:010-50867666 传真/Fax:010-56916450 网址/Website:www.kangdalawyers.com 北京 西安 深圳 海口 上海 广州 杭州 沈阳 南京 天津 菏泽 成都 苏州 呼和浩特 香港 武汉 郑州 长沙 厦门 重庆 合肥 宁波 济南 昆明 北京市康达律师事务所 关于广东冠豪高新技术股份有限公司 2025 年第二次临时股东大会的 法律意见书 二〇二五年七月 法律意见书 康达股会字【2025】第 0321 号 致：广东冠豪高新技术股份有限公司 北京市康达律师事务所（以下称"本所"）接受广东冠豪高新技术股份有限公司（以 下称"公司"）的委托，指派本所律师列席了公司于 2025 年 7 月 17 日召开的公司 2025 年第二次临时股东大会（以下称"本次会议"）。 本所律师根据《中华人民共和国公司法 ...

[Current Period Performance Forecast](index=1&type=section&id=I.%20Current%20Period%20Performance%20Forecast) The company anticipates a loss for the first half of 2025, with net profit attributable to shareholders estimated at approximately -57.71 million RMB and non-recurring net profit at approximately -61.00 million RMB, based on unaudited figures Estimated Performance for H1 2025 | Indicator | Estimated Amount (RMB) | | :--- | :--- | | Net Profit Attributable to Parent Company Shareholders | Around -57.71 million | | Net Profit Attributable to Parent Company Shareholders After Non-Recurring Items | Around -61.00 million | - This performance forecast is unaudited by a certified public accountant[4](index=4&type=chunk) [Review of Prior Period Performance](index=1&type=section&id=II.%20Prior%20Period%20Operating%20Performance%20and%20Financial%20Status) In the same period of 2024, the company achieved a net profit attributable to parent company shareholders of 84.74 million RMB, a non-recurring net profit of 50.32 million RMB, and basic earnings per share of 0.05 RMB Prior Period Performance (H1 2024) | Indicator | 2024 Prior Period Amount (RMB) | | :--- | :--- | | Net Profit Attributable to Parent Company Shareholders | 84.74 million | | Net Profit Attributable to Parent Company Shareholders After Non-Recurring Items | 50.32 million | | Earnings Per Share | 0.05 | [Analysis of Performance Change Reasons](index=1&type=section&id=III.%20Main%20Reasons%20for%20Current%20Period%20Performance%20Change) The company's performance shifted from profit to loss primarily due to intensified market competition, increased financial expenses from project capitalization, and reduced government subsidies - Market Factors: Continuous domestic capacity expansion and insufficient demand led to a significant year-on-year decrease in product sales prices[6](index=6&type=chunk) - Financial Costs: Interest expenses were capitalized after some projects were fixed, leading to an increase in financial expenses[6](index=6&type=chunk) - Other Income: Other income related to government subsidies decreased compared to the same period last year[6](index=6&type=chunk) [Risk Warning](index=2&type=section&id=IV.%20Risk%20Warning) The company emphasizes that this performance forecast is unaudited and currently has no significant uncertainties affecting its accuracy - The company's performance forecast is unaudited by a certified public accountant[8](index=8&type=chunk) - The company declares that there are no significant uncertainties affecting the accuracy of this performance forecast[8](index=8&type=chunk) [Other Notes](index=2&type=section&id=V.%20Other%20Explanatory%20Matters) The company advises investors that the forecast data is preliminary, and final accurate financial data will be based on the officially released 2025 semi-annual report - The above forecast data is preliminary, and specific financial data will be subject to the company's officially disclosed 2025 semi-annual report; investors are advised to be aware of investment risks[9](index=9&type=chunk)

Core Viewpoint - Guangdong Guanhao High-tech Co., Ltd. plans to renew the Financial Service Agreement with Chengtong Financial Co., Ltd. for another three years, emphasizing the importance of maintaining efficient financial management and resource utilization [3][9]. Group 1: Meeting Details - The shareholders' meeting is scheduled for July 17, 2025, at 15:00 in Guangzhou, Guangdong Province [1]. - The equity registration date is set for July 10, 2025, allowing shareholders registered by this date to attend the meeting [2]. - The meeting will combine on-site voting and online voting through the Shanghai Stock Exchange system [2]. Group 2: Agenda and Voting - The agenda includes introducing shareholder representatives, reviewing proposals, and announcing voting results [2]. - A key proposal involves renewing the Financial Service Agreement with Chengtong Financial, which requires approval from the shareholders' meeting [3][9]. Group 3: Financial Service Agreement - The agreement with Chengtong Financial, initially signed in 2022, is set to continue under the same terms for another three years [3]. - Chengtong Financial is a subsidiary of China Chengtong Holdings Group, and the transaction is classified as a related party transaction [4][5]. - The agreement includes provisions for deposit, settlement, and credit services, with a maximum credit limit of RMB 2 billion [6][9]. Group 4: Financial Health of Chengtong Financial - As of December 31, 2024, Chengtong Financial reported total assets of RMB 334.48 billion and net profit of RMB 1.79 billion [4]. - The company is recognized for its strong financial standing and ability to fulfill its obligations [6]. Group 5: Risk Control and Compliance - The agreement includes various risk control measures to mitigate potential financial risks [7]. - The agreement will take effect upon approval at the shareholders' meeting and is subject to arbitration for any disputes [8][9].