Group 1 - The paper industry is experiencing a rise, with Yibin Paper (600793) hitting the daily limit increase [1] - Forest Packaging (605500) previously reached the limit, while Jingxing Paper (002067), Hengda New Materials (301469), and Songyang Resources (603863) also saw gains [1]

Group 1 - The paper industry sector experienced a significant rally, with Yibin Paper Industry (600793) hitting the daily limit up [1] - Other companies in the sector, including Yueyang Forest & Paper (600963), Minfeng Special Paper (600235), Bohui Paper Industry (600966), and Sun Paper Industry (002078), also saw their stock prices increase [1]

宜宾纸业股份有限公司 2025 年度临时公告 二、标的资产过渡期损益安排 1 证券代码：600793 证券名称：宜宾纸业 公告编号：临 2025-050 宜宾纸业股份有限公司 关于收购四川普什醋酸纤维素有限责任公司 67%股权 过渡期损益情况的公告 本公司董事会及全体董事保证本公告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。 宜宾纸业股份有限公司（以下简称"公司"）收购四川普什醋酸纤 维素有限责任公司（以下简称"普什醋纤"或"标的公司"）67%股权， 已完成相关工商变更登记手续，具体内容详见公司于 2024 年 12 月 27 日 在上海证券交易所（www.sse.com.cn）披露的《关于收购四川普什醋酸 纤维素有限责任公司 67%股权暨关联交易完成工商变更登记的公告》（公 告编号：临 2024-069）。 四川省宜宾普什集团有限公司（以下简称"普什集团"）与公司共 同委托第三方机构大信会计师事务所四川分所（以下简称"大信"）对 普什醋纤过渡期损益进行审计，并出具了《四川普什醋酸纤维素有限责 任公司过渡期损益情况专项审计报告》（报告编号：大信川专审字[202 ...

宜宾纸业股份有限公司 2025 年度临时公告 证券代码：600793 证券名称：宜宾纸业 公告编号：临 2025-050 宜宾纸业股份有限公司 关于收购四川普什醋酸纤维素有限责任公司 67%股权 过渡期损益情况的公告 本公司董事会及全体董事保证本公告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。 宜宾纸业股份有限公司（以下简称"公司"）收购四川普什醋酸纤 维素有限责任公司（以下简称"普什醋纤"或"标的公司"）67%股权， 已完成相关工商变更登记手续，具体内容详见公司于 2024 年 12 月 27 日 在上海证券交易所（www.sse.com.cn）披露的《关于收购四川普什醋酸 纤维素有限责任公司 67%股权暨关联交易完成工商变更登记的公告》（公 告编号：临 2024-069）。 四川省宜宾普什集团有限公司（以下简称"普什集团"）与公司共 同委托第三方机构大信会计师事务所四川分所（以下简称"大信"）对 普什醋纤过渡期损益进行审计，并出具了《四川普什醋酸纤维素有限责 任公司过渡期损益情况专项审计报告》（报告编号：大信川专审字[2025] 第 00020 号）（以下 ...

Core Viewpoint - Yibin Paper's stock price surged significantly, prompting its second-largest shareholder, Shudao Group, to reduce its stake in the company after a substantial price increase [2][4]. Group 1: Shareholder Actions - Shudao Group reduced its holdings by 3.4146 million shares, representing 1.93% of Yibin Paper's total shares, decreasing its ownership from 11.93% to 10.001% [2]. - This reduction occurred after Yibin Paper's stock price increased by 74.68% from April 24 to May 27, 2025, and by 150.2% from April 8 to May 27, 2025 [2][4]. Group 2: Market Reactions - Following the announcement of the share reduction, Yibin Paper's stock price fell by 5.15% on May 29, 2025 [2]. - The stock had previously experienced a series of four consecutive trading days of price increases, attributed to market expectations of further asset injections following new merger regulations [5]. Group 3: Company Performance and Industry Context - Yibin Paper's main business, which includes the production of food packaging paper and household paper products, has been under pressure, with a reported revenue of 2.238 billion yuan in 2024, down 8.34% year-on-year, and a net loss of 128 million yuan [6]. - The company has faced challenges due to rising raw material costs and increased competition in the paper market, leading to a significant decline in profitability [6][7]. - Despite the overall industry struggles, Yibin Paper's performance in the first quarter of 2025 showed signs of recovery, with a revenue of 612 million yuan, up 9.51% year-on-year, primarily driven by the new acetic fiber business [7].

Core Viewpoint - The report outlines a significant reduction in shareholding by Shudao Investment Group in Yibin Paper Industry Co., Ltd, indicating a strategic decision for financial management and future plans for further reductions in shareholding [1][6]. Group 1: Shareholding Changes - Shudao Investment Group reduced its shareholding from 29,484,000 shares (16.67% of total shares) to 17,690,500 shares (10.00% of total shares) [6][7]. - The reduction involved a total of 11,793,500 shares, representing a decrease of 6.67% in ownership [7][8]. - The share reduction will occur through various methods, including centralized bidding and block trading, scheduled from December 30, 2024, to May 28, 2025 [7][8]. Group 2: Future Plans - Shudao Investment Group has no plans to increase its shareholding in Yibin Paper Industry within the next 12 months and intends to continue reducing its stake [6][7]. - The company has committed to adhering to relevant legal and regulatory disclosure obligations regarding these shareholding changes [2][6]. Group 3: Company Information - Shudao Investment Group is a limited liability company based in Chengdu, Sichuan, with a registered capital of 5,422,600,000 RMB [3][4]. - The company engages in various investment activities, asset management services, and engineering management services [3][4].

宜宾纸业股份有限公司 简式权益变动报告书 上市公司的名称：宜宾纸业股份有限公司 股票上市地点：上海证券交易所 股票简称：宜宾纸业 股票代码：600793 信息披露义务人名称：蜀道投资集团有限责任公司 住所：四川省成都市高新区交子大道 499 号中海国际中心 H 座 通讯地址：四川省成都市高新区交子大道 499 号中海国际中心 H 座 权益变动性质：股份减少 签署日期：二〇二五年五月 1 信息披露义务人声明 一、本报告书系信息披露义务人依据《中华人民共和国公司法》《中华人民 共和国证券法》《上市公司收购管理办法》《公开发行证券的公司信息披露内容 与格式准则第 15 号——权益变动报告书》等相关法律、法规和规范性文件编制。 二、依据《中华人民共和国证券法》《上市公司收购管理办法》的规定，本 报告书已全面披露信息披露义务人在宜宾纸业股份有限公司中拥有权益的股份。 截至本报告书签署之日，除本报告书披露的持股信息外，信息披露义务人没有通 过任何其他方式在宜宾纸业股份有限公司拥有权益。 三、信息披露义务人签署本报告书已获得必要的授权和批准，其履行亦不违 反信息披露义务人章程或内部规则中的任何条款，或与之相冲突。 四、本次 ...

Group 1 - Yibin Paper's stock price has surged by 178% since April 8, 2025, reaching a historical high by May 27, 2025 [1] - Major shareholder Shudao Investment Group reduced its stake by 341.46 million shares, representing a 1.93% decrease, bringing its ownership down from 11.93% to 10.001% [1] - The reduction in stake will not significantly impact the company's governance structure or ongoing operations [1] Group 2 - The recent stock price increase is primarily attributed to an acquisition, where Yibin Paper acquired 67% of Sichuan Pushi Acetate Fiber Co., Ltd. for 206 million yuan [3] - The acquired company reported a net profit of 149 million yuan in 2023, with a low price-to-earnings ratio of 2 [3] - Despite the acquisition, Yibin Paper's overall performance in 2024 is expected to decline, with projected revenue of 2.238 billion yuan, a decrease of 8.34%, and a net loss of 128 million yuan [3] - In Q1 2025, Yibin Paper's revenue increased to 612 million yuan, a year-on-year growth of 9.51%, and net profit reached 16.027 million yuan, up 99.80% [3] - Shudao Group's decision to reduce its stake may indicate that it believes the stock price has already reflected the benefits of the acquisition [3]

Core Viewpoint - Yibin Paper (600793) announced a reduction in shares by its major shareholder, Shudao Investment Group, which sold 3.4146 million shares, accounting for 1.93% of the company’s total shares. This occurred during a period when Yibin Paper's stock price surged by 178% from April 8 to the recent peak [2][4]. Shareholder Activity - Shudao Investment Group reduced its stake from 11.93% to 10.001% through centralized bidding from April 24 to May 27 [2][3][4]. - The reduction in shares was executed through a centralized bidding process, and the shares were originally acquired during a non-public offering by the former Sichuan Railway Industry Investment Group [2][4]. Stock Performance - Yibin Paper's stock price increased from 14.66 CNY per share on April 8 to a peak of 40.79 CNY, marking a significant rise of 178% [4]. - Following the surge, the stock price experienced a decline of 10% on the day of the announcement [5]. Financial Performance - In 2024, Yibin Paper reported a revenue of 2.238 billion CNY, a year-on-year decrease of 8.34%, and a net loss of 128 million CNY, reversing from profit due to declining paper prices and rising raw material costs [5]. - The first quarter of 2024 showed recovery with a revenue of 612 million CNY, a year-on-year increase of 9.51%, and a net profit of 16.03 million CNY, up 99.80%, attributed to the newly acquired acetic acid fiber business [5]. Acquisition Impact - The significant stock price increase was primarily driven by Yibin Paper's acquisition of a 67% stake in Sichuan Push Acetic Acid Fiber Co., Ltd. for 206 million CNY, which reported a net profit of 149 million CNY in 2023 with a low price-to-earnings ratio of 2 [4]. - The acquisition has opened new growth opportunities for Yibin Paper following the release of new merger regulations [4].

宜宾纸业股份有限公司 2025 年度临时公告 宜宾纸业股份有限公司 关于持股 5%以上股东权益变动触及 1%的提示性公告 证券代码：600793 证券名称：宜宾纸业 公告编号：临 2025-049 本公司董事会及全体董事保证本公告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： 宜宾纸业股份有限公司（以下简称"公司"）于 2025 年 5 月 28 日收到蜀道投资集团有限责任公司（以下简称"蜀道集团"）《关于减 持宜宾纸业股份触及 1%的告知函》，其于 2025 年 4 月 24 日至 2025 年 5 月 27 日期间通过集中竞价交易方式减持原四川省铁路产业投资集团有 限责任公司参与公司非公开发行股票而取得的股份。蜀道集团系公司持 股 5%以上股东，本次权益变动未触及要约收购。 本次减持股份总数 3,414,600 股，占公司股份总数的 1.93%。本 次权益变动后，蜀道集团持有公司股份比例从 11.93%下降至 10.001%。 本次权益变动不会导致公司控股股东及实际控制人发生变化。 一、本次权益变动基本情况 | 股东名称 | 股份性质 | 本 ...