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]

Transaction Overview - The company plans to establish Wuhu Shengying Enterprise Management Consulting Partnership (Limited Partnership) with a total investment of RMB 297,704.35 million, using 100% equity of Guangdong Shanying Paper Co., Ltd. and 36.56% equity of Xiangheng Creative Packaging Co., Ltd. as contributions [1][2] - The company aims to introduce long-term investors, including China Orient Asset Management Co., Ltd., Caixin Jixiang Life Insurance Co., Ltd., Xinda Capital Management Co., Ltd., and Zibo Hengtie Investment Partnership (Limited Partnership), with a total investment not exceeding RMB 747.5 million [1][2] Approval and Structure - The transaction was approved by the company's board of directors with unanimous consent, and it does not require shareholder approval [3][4] - The partnership will be structured with Shanying International holding 99.97% and Xinsenglibao holding 0.03% of the partnership [2][7] Financial Impact - The transaction is expected to enhance the company's sustainable development capabilities and core competitiveness by integrating state-owned capital and insurance funds into its paper packaging business [1][2][14] - The funds raised will be utilized for production operations, research and development of new production capabilities, and upgrading existing production lines [14] Asset Valuation - The equity contributions are based on the audited net asset values as of December 31, 2024, with Guangdong Shanying valued at RMB 217,704.35 million and Xiangheng Creative at RMB 80,000 million [11][14] Company Structure Post-Transaction - After the transaction, the company will retain a 74.84% stake in the partnership, while the investors will collectively hold 25.16% [13][14] - The partnership will remain a subsidiary within the company's consolidated financial statements, ensuring that the assets of Guangdong Shanying and Xiangheng Creative remain under the company's control [14]

Core Viewpoint - The paper industry is experiencing a price increase driven by rising raw material costs, with companies like Nine Dragons Paper and others adjusting their prices in response to market conditions [1][3][4]. Group 1: Price Adjustments - Nine Dragons Paper has raised the price of corrugated paper multiple times since July, with a recent increase of 30 yuan/ton effective August 1 [1][3]. - Other companies, including Shanying International and Jiangxi Lee & Man Paper, have also announced similar price hikes of 30 yuan/ton starting August 1 [4]. - The average price of recycled old corrugated paper in China reached 1482 yuan/ton as of July 23, marking a 2.75% increase compared to the same period last year [3]. Group 2: Industry Challenges - The paper industry is facing an imbalance between supply and demand, with new production capacity exceeding 10 million tons from 2023 to 2024, while consumption growth is projected at only 1.5% [5]. - Companies have previously engaged in price competition to capture limited market share, leading to "involution" within the industry [2][5]. Group 3: Anti-Involution Initiative - The Guangdong Paper Industry Association has issued a proposal to combat low-price competition and promote high-quality development in the industry [2][5][6]. - The initiative calls for companies to avoid below-cost dumping, adhere to fair pricing based on actual costs, and comply with relevant laws to maintain market order [6][7]. - Companies are encouraged to shift their focus from price competition to quality, service, and innovation, aiming to enhance product performance and develop high-value-added products [6][7]. Group 4: Future Outlook - Analysts predict that while raw material prices may continue to rise due to tight supply, there could be a potential easing in August as high temperatures subside, possibly leading to a recovery in profit margins for the corrugated paper industry [4][7]. - The ongoing price increases and the anti-involution initiative represent a strategic response by companies to navigate cost pressures and seek sustainable growth [7].

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]

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 entity, Shengying Enterprise Management [1][2] Group 1: Transaction Details - The company plans to contribute 100% equity of Guangdong Shanying and 36.56% equity of Xiangheng Creative Packaging as assets to establish Shengying Enterprise Management with a total scale of RMB 2.978 billion [1] - The company will hold a 99.97% stake in Shengying Enterprise Management, while Xinsenglibao will contribute RMB 1 million for a 0.03% stake [1] - After the establishment, the company intends to sign a partnership share transfer agreement with several investors, who plan to invest up to RMB 747.5 million to acquire shares in Shengying Enterprise Management [1] Group 2: Asset and Strategic Implications - Shengying Enterprise Management will directly hold 100% equity of Guangdong Shanying and 36.56% equity of Xiangheng Creative, which are considered high-quality assets in the company's paper and packaging sector [2] - The transaction proceeds will be utilized for production operations, research and development of new production capabilities, and upgrading existing production lines, further promoting the integrated paper packaging business [2]

| 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 ...

每经AI快讯，7月31日，山鹰国际（600567）(600567.SH)公告称，公司拟以下属子公司股权作价29.77亿 元出资设立芜湖胜鹰企业管理咨询合伙企业(有限合伙)，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、财信吉祥人寿保险股份有限公司、信达资本管理有限公司和 淄博恒铁投资合伙企业，转让金额合计不超过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。 ...

格隆汇7月31日丨山鹰国际(600567.SH)公布，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（简称"广东山鹰"） 100%股权和祥恒创意包装股份公司（简称"祥恒创意"）36.56%股权出资，与信达资本全资子公司鑫盛 利保股权投资有限公司（简称"鑫盛利保"）共同设立胜鹰企管，胜鹰企管总规模人民币297,804.35万 元，公司以上述标的资产认缴出资297,704.35万元，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，作为普通合伙人加入合伙企业。以交易上限7.475亿元测算， 本次交易完成后，公司将持有胜鹰企管74.84%份额，上述投资方将合计持有胜鹰企管25.09%份额。具 体交易金额以转让协议约定为准。胜鹰企管系公司合并报表范围子公司，将直接持有广 ...

7月30日，沪深两融数据显示，山鹰国际获融资买入额0.23亿元，居两市第851位，当日融资偿还额0.25 亿元，净卖出242.67万元。 最近三个交易日，28日-30日，山鹰国际分别获融资买入0.20亿元、0.26亿元、0.23亿元。 融券方面，当日融券卖出0.00万股，净买入0.03万股。 来源：金融界 ...