[Current Period Performance Forecast](index=1&type=section&id=%E4%B8%80%E3%80%81%E6%9C%AC%E6%9C%9F%E4%B8%9A%E7%BB%A9%E9%A2%84%E5%91%8A%E6%83%85%E5%86%B5) The company forecasts a return to profitability in H1 2025, with net profit attributable to shareholders ranging from RMB 18.65 million to RMB 22.80 million - The core conclusion of the performance forecast is that the company's net profit will **turn losses into profits**[3](index=3&type=chunk) Financial Indicators (2025H1 Forecast) | Financial Indicators (2025H1 Forecast) | Amount (RMB) | | :--- | :--- | | Net Profit Attributable to Shareholders of Listed Company | RMB 18.65 million to RMB 22.80 million | | Net Profit Attributable to Shareholders of Listed Company After Deducting Non-Recurring Gains and Losses | RMB 11.95 million to RMB 14.60 million | [Prior Period Performance](index=1&type=section&id=%E4%BA%8C%E3%80%81%E4%B8%8A%E5%B9%B4%E5%90%8C%E6%9C%9F%E7%BB%8F%E8%90%A5%E4%B8%9A%E7%BB%A9%E5%92%8C%E8%B4%A2%E5%8A%A1%E7%8A%B6%E5%86%B5) In H1 2024, the company reported a net loss attributable to the parent company of RMB 22.0154 million, with certain prior period financial data retrospectively adjusted due to a common control acquisition Financial Indicators (2024H1) | Financial Indicators (2024H1) | Amount (RMB) | | :--- | :--- | | Net Profit Attributable to Owners of Parent Company | -RMB 22.0154 million | | Net Profit Attributable to Owners of Parent Company After Deducting Non-Recurring Gains and Losses | -RMB 92.0809 million | | Earnings Per Share | -RMB 0.1244 | - Prior period data has been retrospectively adjusted due to the acquisition of **67% equity in Sichuan Pushen Cellulose Acetate Co., Ltd.** at the end of 2024, which constituted a business combination under common control[7](index=7&type=chunk) [Analysis of Performance Change Reasons](index=2&type=section&id=%E4%B8%89%E3%80%81%E6%9C%AC%E6%9C%9F%E4%B8%9A%E7%BB%A9%E5%8F%98%E5%8A%A8%E7%9A%84%E4%B8%BB%E8%A6%81%E5%8E%9F%E5%9B%A0) The current period's turnaround to profitability is primarily attributed to cost reduction, new corrugated box business, and growth in cellulose acetate sales and gross margin, with accounting treatment of a common control acquisition impacting non-recurring adjusted net profit - Key drivers for the projected profit include: - Continuous optimization of business structure, strengthened cost control, and reduced financial expenses - The newly added **corrugated box business achieved profitability** - Sales volume, revenue, and gross margin of the core product, **cellulose acetate**, all achieved year-over-year growth[8](index=8&type=chunk) - The significant difference between net profit after deducting non-recurring items and net profit is due to the net profit or loss of the merged entity (**Sichuan Pushen Cellulose Acetate Co., Ltd.**) in the prior period being recognized as non-recurring gains and losses in the current period due to a business combination under common control[8](index=8&type=chunk) [Risk Warning](index=2&type=section&id=%E5%9B%9B%E3%80%81%E9%A3%8E%E9%99%A9%E6%8F%90%E7%A4%BA) The company states this performance forecast is based on preliminary, unaudited financial calculations, with no significant uncertainties identified as of the announcement date affecting its accuracy - This performance forecast data is a **preliminary calculation result**, **unaudited**[9](index=9&type=chunk) - The company confirms that there are currently **no significant uncertainties** affecting the accuracy of this performance forecast[9](index=9&type=chunk) [Other Explanations](index=3&type=section&id=%E4%BA%94%E3%80%81%E5%85%B6%E4%BB%96%E8%AF%B4%E6%98%8E%E4%BA%8B%E9%A1%B9) The company reiterates that this forecast data is preliminary, and final accurate financial data will be subject to the officially disclosed 2025 semi-annual report, advising investors to be aware of investment risks - The final accurate financial data will be subject to the company's officially disclosed **2025 semi-annual report**[10](index=10&type=chunk)

Group 1 - The A-share paper sector is experiencing a significant upward trend, with Yibin Paper reaching the daily limit increase [1] - Other companies such as Forest Packaging and Zhongshun Jierou previously hit the limit, indicating strong market interest [1] - Companies like Jingxing Paper, Hengda New Materials, and Songyang Resources are also seeing gains, reflecting a broader positive movement in the sector [1]

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]