Core Viewpoint - The company is establishing a partnership to enhance its core competitiveness in the paper and packaging sector by introducing state-owned capital and insurance funds through the transfer of equity stakes in its subsidiaries [1][2]. Group 1: Partnership and Financial Details - The company plans to transfer 100% equity of its subsidiary Guangdong Shanying and 36.56% equity of Xiangheng Creative Packaging for a total consideration of 2.977 billion yuan, forming a partnership with Xinsengli Investment [1]. - The total scale of the partnership is 2.978 billion yuan, with the company holding a 99.97% stake [1]. - After the transfer, long-term investors will hold a combined 25.09% stake in the partnership, while the company will retain a 74.84% stake, maintaining control over the partnership [1]. Group 2: Business Performance and Strategy - Guangdong Shanying and Xiangheng Creative are considered high-quality assets, with projected revenues of 3.019 billion yuan and net profits of 25.138 million yuan for 2024 [2]. - The company has been optimizing its asset structure and actively introducing strategic investors to enhance its financial strength and risk resilience [2]. - The company is transitioning from a capital-driven growth model to a high-return operational growth model, having completed its national strategic layout for the paper-making sector [3]. Group 3: Production and Investment Focus - The company has established a diversified raw material channel and reported a production increase of 6.71% in the paperboard sector and 3.59% in the packaging sector for 2024 [3]. - The company announced plans to set up a partnership with its subsidiary to invest 100 million yuan in products closely related to industrial scenarios, aiming to reduce costs and improve efficiency in its paper and packaging industry [3].

Focus Events - Zhuhai Tainuo Maibo Pharmaceutical Co., Ltd. has become the first company to have its IPO application accepted under the reactivated fifth listing standard of the Sci-Tech Innovation Board, focusing on innovative biopharmaceuticals for blood product alternatives [1] - Joy City Property plans to repurchase shares at HKD 0.62 per share, with a total amount of approximately HKD 29.32 billion, and will apply for the cancellation of its listing status on the Hong Kong Stock Exchange [3] - Microsoft has surpassed a market capitalization of USD 4 trillion, becoming the second company globally to achieve this milestone [3] Macro News - The National Development and Reform Commission emphasizes the need to deepen the construction of a unified national market and eliminate "involution" competition [8] - The Ministry of Commerce states that China and the U.S. will continue to promote the extension of previously suspended tariffs and countermeasures for 90 days, aiming to stabilize economic relations [10] Industry Dynamics - The domestic gaming market in China achieved a sales revenue of RMB 168 billion in the first half of 2025, marking a year-on-year growth of 14.08% and setting a historical record [10] - The National Medical Insurance Administration supports high-level innovative drugs by establishing a price stability period to ensure reasonable returns during the initial market phase [10] Company Focus - Sanhui Electric has signed a framework sales contract for robot products with Zibo Blue Ribbon Health Management Co., Ltd., with a commitment to sell at least 50 units in 2025 and 450 units by 2027 [12] - Henan Shuanghui Investment Development Co., Ltd. has signed a cooperation agreement with Henan Huirun Food Co., Ltd., expecting an annual output value of RMB 1.7 billion from the project [12] - Wukuang Securities has appointed Zheng Yu as the new chairman, who will also serve as the general manager, consolidating leadership roles [13] - Sinopec expects a net profit of RMB 20.1 billion to RMB 21.6 billion for the first half of 2025, impacted by falling international oil prices and competitive market conditions [14] - Shanying International plans to establish a partnership enterprise with a capital contribution of RMB 2.977 billion, aiming to attract long-term investors [15] - Shima Holdings intends to acquire a 10.27% stake in Nylon Chemical for RMB 952 million, increasing its ownership from 61.79% to 72.06% [18] - Ju Yi Technology has successfully won a bid for the Xiaopeng Huitian flying car factory project, applying innovative technologies for production [20]

● 本次交易不构成关联交易，不构成重大资产重组。 ● 风险提示：各方对本次交易达成共识，相关交易要素已经取得各投资方内部有权机构审批同意，但合 伙企业尚未完成工商注册登记，本次交易尚待交易各方签订具体协议后生效，实施过程存在不确定性， 敬请投资者注意投资风险。 一、交易概述 登录新浪财经APP 搜索【信披】查看更多考评等级 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： ● 交易简要内容：山鹰国际控股股份公司（以下简称"公司"或"山鹰国际"）拟以下属子公司股权作价 297,704.35万元出资设立芜湖胜鹰企业管理咨询合伙企业（有限合伙）（暂定名，以下简称"胜鹰企 管"），并以转让合伙企业部分合伙份额的形式引入长期投资者中国东方资产管理股份有限公司（以下 简称"东方资产"）、财信吉祥人寿保险股份有限公司（以下简称"财信人寿"）、信达资本管理有限公司 （以下简称"信达资本"）和淄博恒铁投资合伙企业（有限合伙）（以下简称"淄博恒铁"），转让金额合 计不超过人民币7.475亿元，本次交易将引入国有资本、保险资金，有利于 ...

Group 1 - The stock price of Shanying International as of July 31, 2025, is 1.89 yuan, down 0.03 yuan from the previous trading day's closing price, representing a decline of 1.56% [1] - On the same day, the opening price was 1.92 yuan, with a highest price of 1.92 yuan and a lowest price of 1.88 yuan, with a trading volume of 1,433,184 hands and a transaction amount of 272 million yuan [1] - Shanying International is primarily engaged in paper and packaging business and is one of the important paper product manufacturers in China [1] Group 2 - On July 31, 2025, Shanying International announced plans to establish Wuhu Shengying Enterprise Management Consulting Partnership with a capital contribution of 2.977 billion yuan using equity from its subsidiaries [1] - The company aims to introduce long-term investors through the transfer of part of the partnership's shares, with a total transfer amount not exceeding 747.5 million yuan [1] - After the transaction, Shanying International will retain a 74.84% stake in the partnership [1] Group 3 - On July 31, 2025, the net outflow of main funds for Shanying International was 18.8696 million yuan, accounting for 0.18% of the circulating market value [2]

? 交易简要内容：山鹰国际控股股份公司（以下简称"公司"或"山鹰国际"） 拟以下属子公司股权作价 297,704.35 万元出资设立芜湖胜鹰企业管理咨询 合伙企业（有限合伙） （暂定名，以下简称"胜鹰企管"），并以转让合伙企 业部分合伙份额的形式引入长期投资者中国东方资产管理股份有限公司（以 下简称"东方资产"）、财信吉祥人寿保险股份有限公司（以下简称"财信 人寿"）、信达资本管理有限公司（以下简称"信达资本"）和淄博恒铁投 资合伙企业（有限合伙）（以下简称"淄博恒铁"），转让金额合计不超过人 民币 7.475 亿元，本次交易将引入国有资本、保险资金，有利于推动纸包一 体化业务发展，增强公司可持续发展能力和核心竞争力。 一、交易概述 （一）本次交易的基本情况 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： 债券简称：鹰 19 转债 债券代码：110063 山鹰国际控股股份公司 股票简称：山鹰纸业 股票代码：600567 公告编号：临 2025-059 为引入长期投资者，推动纸包一体化业务发展，进一步增强公司可持 ...

自7月以来，玖龙纸业（02689.HK）数次上调瓦楞纸报价。此外，山鹰国际（600567.SH）、江西理文 造纸、湖北荣成纸业等纸企也同步跟涨。 此前，一些纸企为了争夺有限的市场份额，不惜采取低价竞争策略，导致行业"内卷"。 广东省造纸行业协会于近日发布《关于推动广东省造纸行业"反内卷"促进行业高质量发展的倡议书》， 提出杜绝低于成本的倾销行为，抵制通过不正当手段套取补贴或抢占市场，鼓励企业根据真实成本、合 理利润、服务标准及市场供需关系，自主、透明定价，保障行业整体价值空间。 月内已数次调价 原材料成本上升是推动此轮"涨价潮"的主要因素。 卓创资讯瓦楞纸市场高级分析师李莉在接受《中国经营报》记者采访时表示，瓦楞纸主要原料为废旧黄 板纸，占总成本的75%左右。废旧黄板纸价格变化与瓦楞纸价格走势形成较强的正相关性。 7月上旬，纸厂成品纸库存有所升高，抵消部分废黄板纸供应偏少的影响，废黄板纸市场价格基本稳定 运行。7月中旬，华东、华南地区降雨增加，影响废纸供应，区内纸厂采购价格整体上调20—40元/吨。 7月下旬，6号台风"韦帕"影响东南沿海天气，导致东南沿海地区降雨增强，部分纸厂采购价格再次上调 20—30元/ ...

Core Viewpoint - The company aims to enhance its sustainable development capabilities and core competitiveness by introducing long-term investors and promoting its integrated paper packaging business through the establishment of a new partnership fund, Shengying Qiguan [1][2] Group 1: Investment Structure - The company plans to contribute 100% equity of Guangdong Shanying and 36.56% equity of Xiangheng Creative Packaging to establish Shengying Qiguan with Xinsheng Libao, with a total scale of RMB 297,804.35 million [1] - The company will hold 99.97% of Shengying Qiguan, while Xinsheng Libao will contribute RMB 1 million, representing 0.03% of the total scale [1] Group 2: Future Transactions - After the establishment of Shengying Qiguan, the company intends to sign a partnership share transfer agreement with several investors, aiming to raise up to RMB 747.5 million for a stake in Shengying Qiguan [2] - Post-transaction, the company will hold 74.84% of Shengying Qiguan, while the investors will collectively hold 25.09% [2] - Shengying Qiguan will be a subsidiary within the company's consolidated financial statements, directly holding 100% of Guangdong Shanying and 36.56% of Xiangheng Creative [2]

Core Viewpoint - The company aims to enhance its sustainable development capabilities and core competitiveness by introducing long-term investors and promoting the integrated paper packaging business through the establishment of a new partnership fund, Shengying Qiguan [1][2] Group 1: Transaction Details - The company plans to contribute 100% equity of Guangdong Shanying and 36.56% equity of Xiangheng Creative Packaging to establish Shengying Qiguan with a total scale of RMB 2.978 billion, where the company will account for 99.97% of the contributions [1] - After the establishment of Shengying Qiguan, the company intends to sign a partnership share transfer agreement with several investors, who will collectively invest up to RMB 747.5 million to purchase shares in Shengying Qiguan [1] - Following the transaction, the company will hold 74.84% of Shengying Qiguan, while the investors will hold a combined 25.09% [1] Group 2: Asset Quality and Utilization - The assets involved in the transaction, Guangdong Shanying and Xiangheng Creative, are considered high-quality assets within the company's paper and packaging sector [2] - The funds raised from this transaction will be utilized for production operations, research and development of new production capabilities, and upgrading existing production lines, thereby further promoting the integrated paper packaging business [2]

胜鹰企管系公司合并报表范围子公司，将直接持有广东山鹰100%股权和祥恒创意36.56%股权，山鹰国 际及全资子公司上海山鹰私募基金管理有限公司持有祥恒创意剩余股权，广东山鹰和祥恒创意仍在公司 合并报表范围内。 智通财经APP讯，山鹰国际(600567.SH)发布公告，为引入长期投资者，推动纸包一体化业务发展，进 一步增强公司可持续发展能力和核心竞争力，公司拟以持有的山鹰纸业(广东)有限公司(以下简称"广东 山鹰")100%股权和祥恒创意包装股份公司(以下简称"祥恒创意")36.56%股权(以下简称"标的资产")出 资，与信达资本全资子公司鑫盛利保股权投资有限公司(以下简称"鑫盛利保")共同设立胜鹰企管，胜鹰 企管总规模人民币29.78亿元，公司以上述标的资产认缴出资29.77亿元，占胜鹰企管总规模的99.97%， 鑫盛利保以现金认缴出资100万元，占胜鹰企管总规模的0.03%。 胜鹰企管设立后，公司拟与东方资产、财信人寿、信达资本、淄博恒铁或其指定方签署合伙企业份额转 让协议，上述投资方拟合计出资不超过人民币7.475亿元购买公司持有的胜鹰企管有限合伙份额。同 时，东方资产指定方将认缴出资100万元，作为普通 ...

| 股票简称：山鹰纸业 | | | 股票代码：600567 | 公告编号：临 2025-059 | | --- | --- | --- | --- | --- | | 债券简称：鹰 | 19 | 转债 | 债券代码：110063 | | （一）本次交易的基本情况 为引入长期投资者，推动纸包一体化业务发展，进一步增强公司可持续发展 能力和核心竞争力，公司拟以持有的山鹰纸业（广东）有限公司（以下简称"广 东山鹰"）100%股权和祥恒创意包装股份公司（以下简称"祥恒创意"）36.56% 交易简要内容：山鹰国际控股股份公司（以下简称"公司"或"山鹰国际"） 拟以下属子公司股权作价 297,704.35 万元出资设立芜湖胜鹰企业管理咨询 合伙企业（有限合伙）（暂定名，以下简称"胜鹰企管"），并以转让合伙企 业部分合伙份额的形式引入长期投资者中国东方资产管理股份有限公司（以 下简称"东方资产"）、财信吉祥人寿保险股份有限公司（以下简称"财信 人寿"）、信达资本管理有限公司（以下简称"信达资本"）和淄博恒铁投 资合伙企业（有限合伙）（以下简称"淄博恒铁"），转让金额合计不超过人 民币 7.475 亿元，本次交易将引入国有资 ...