Core Viewpoint - The A-share market shows a mixed performance with the Shanghai Composite Index at 3503.55 points, slightly down by 0.46%, while the total trading volume reached 802.366 billion yuan, indicating active market participation [1]. Group 1: Market Performance - The Shanghai Composite Index is currently above the annual line, reflecting a stable market condition despite a minor decline [1]. - A total of 9 A-shares have surpassed the annual line today, with notable stocks showing significant deviation rates [1]. Group 2: Notable Stocks - Zhongdian Port (证券代: 001287) leads with a price increase of 9.99% and a deviation rate of 7.78% from the annual line, with the latest price at 20.26 yuan [1]. - Xinmai Medical (证券代: 688016) and Qianjiang Motorcycle (证券代: 000913) also show positive performance with deviation rates of 2.62% and 1.86%, respectively [1]. - Other stocks like Xueda Education (证券代: 000526) and Ziguang Guofeng (证券代: 000938) have lower deviation rates of 1.17% and 0.71%, indicating they have just crossed the annual line [1].

Group 1 - The company expects to achieve a net profit attributable to shareholders of the parent company between 130 million and 156 million yuan for the first half of 2025, marking a turnaround from a loss in the same period last year [1][2] - The forecasted net profit after deducting non-recurring gains and losses is estimated to be between 113 million and 139 million yuan [2] - In the same period last year, the company reported a net loss attributable to shareholders of the parent company of 48.62 million yuan [3][4] Group 2 - The primary reason for the expected profit is the change in the scope of consolidation due to the acquisition of 100% equity in Hunan JunTai Biotechnology New Materials Technology Co., which was completed in December 2024 [5] - The absence of asset impairment provisions related to forest assets, which were recorded in the previous year due to adverse weather conditions, also contributes to the expected profit [6]

Market Overview - The A-share market shows mixed performance with the Shanghai Composite Index closing at 3519.65, up 0.27% [2][4] - The Shenzhen Component Index decreased by 0.11%, while the ChiNext Index fell by 0.45% [2][4] - The overall market sentiment remains cautious with a focus on the electric power sector, which has shown strength recently [4][11] Economic Indicators - In the first half of 2025, China's total goods trade reached 21.79 trillion yuan, a year-on-year increase of 2.9% [18][19] - The total value of exports was 13 trillion yuan, growing by 7.2%, while imports decreased by 2.7% to 8.79 trillion yuan [19][20] - The People's Bank of China reported an increase of 12.92 trillion yuan in RMB loans during the same period [20][21] Industry Dynamics - The EVTank report indicates that in 2024, Chinese companies dominated the global high-rate battery market, occupying eight out of the top ten positions [30] - The construction of the largest 750 kV ring network project in China has been completed, enhancing power supply capabilities in the Xinjiang region [34] - The photovoltaic industry is undergoing a transformation with efforts to reduce "involution" and improve overall market conditions [62] Company Performance - KingMed Diagnostics (603882.SH) is expected to report a net loss of 0.65 billion to 0.95 billion yuan for the first half of 2025, a significant decline from a profit of 0.90 billion yuan in the previous year [36] - Zhongji United (605305.SH) anticipates a net profit of 0.25 billion to 0.30 billion yuan, reflecting a growth of 78.02% to 113.63% year-on-year [37] - JiuLi Special Materials (002318.SZ) is set to enhance its production capabilities with a new high-tech seamless steel pipe production line [40] Financial Performance - Youfu Co., Ltd. (002427.SZ) expects to turn a profit in the first half of 2025, with a net profit forecast of 10 million to 15 million yuan [44] - MiaoKe LanDuo (60882.SH) projects a net profit increase of 56% to 89% for the first half of 2025, driven by rising cheese product sales [46] - Shengyi Technology (688183.SH) anticipates a staggering net profit growth of 432% to 471% for the same period, attributed to strategic product optimization [55]

[Current Period Performance Forecast](index=1&type=section&id=I.%E3%80%81Current%20Period%20Performance%20Forecast) The company forecasts a return to profitability in H1 2025, with net profit attributable to parent company owners expected to range from RMB 130 million to RMB 156 million H1 2025 Performance Forecast | Metric | Estimated Amount (RMB) | | :--- | :--- | | Net Profit Attributable to Parent Company Owners | RMB 130 million - RMB 156 million | | Net Profit Attributable to Parent Company Owners After Non-Recurring Items | RMB 113 million - RMB 139 million | [Review of Prior Period Performance](index=1&type=section&id=II.%E3%80%81Prior%20Period%20Operating%20Performance%20and%20Financial%20Position) In H1 2024, the company reported a net loss attributable to parent company owners of RMB 48.6166 million, excluding the performance of Juntian Technology acquired in late 2024 H1 2024 Prior Period Performance | Metric | Amount (RMB) | | :--- | :--- | | Net Profit Attributable to Parent Company Owners | -RMB 48.6166 million | | Net Profit Attributable to Parent Company Owners After Non-Recurring Items | -RMB 45.4837 million | | Earnings Per Share | -RMB 0.03 | - Prior period data does not account for the impact of the company's acquisition of 100% equity in Juntian Technology, completed in December 2024[4](index=4&type=chunk)[6](index=6&type=chunk) [Analysis of Reasons for Forecasted Profitability](index=2&type=section&id=III.%E3%80%81Primary%20Reasons%20for%20Current%20Period%20Forecasted%20Profitability) The forecasted profitability is primarily driven by the expanded scope of consolidation to include Juntian Technology and the absence of forest asset impairment provisions from the prior period - Change in consolidation scope: The company completed the acquisition of 100% equity in Juntian Technology in December 2024, with its performance consolidated into financial statements from 2025, becoming a new source of profit[6](index=6&type=chunk) - Impact of non-operating gains and losses: In the prior period, an asset impairment provision was made for forest assets due to rain, snow, and ice disasters, which is absent in the current period[6](index=6&type=chunk) [Risk Warning](index=2&type=section&id=IV.%E3%80%81Risk%20Warning) The company confirms no significant uncertainties exist that would impact the accuracy of the performance forecast - The company confirms the absence of significant uncertainties affecting the accuracy of this performance forecast[7](index=7&type=chunk) [Other Explanations](index=2&type=section&id=V.%E3%80%81Other%20Explanatory%20Matters) The company advises investors that the forecast data is preliminary, with final accurate financial figures subject to the official H1 2025 report - This performance forecast data is preliminary, and final figures will be based on the official semi-annual report, cautioning investors about investment risks[8](index=8&type=chunk)

| | 离任职务 | 离任时间 | | 原定任期到 | | 离任原因 | 是否继续在上 市公司及其控 | 是否存在未 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 姓名 | | | | 期日 | | | | 履行完毕的 | | | | | | | | | 股子公司任职 | 公开承诺 | | 梅玫 | 副总经理、总 | 2025 7 | 年 | 2025年 | 1月 | 组织安排工作 | 否 | 否 | | | 法律顾问 | 月 7 | 日 | 19 日 | | 发生变动 | | | 注："原定任期到期日"为公司第八届董事会原定任期终止日期，在换届选举前，董事、高 级管理人员继续履职。 证券代码：600963 证券简称：岳阳林纸 公告编号：2025-033 岳阳林纸股份有限公司 关于高级管理人员离任的公告 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。 一、高级管理人员离任的基本情况 二〇二五年七月九日 二、离任对公司的影响 至本公告披露日，梅玫女士未持有 ...

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]

Industry Overview - Coated paper, also known as printing coated paper, is produced by applying a layer of white coating on the surface of base paper and processing it through super calendering. It is characterized by a smooth surface, high whiteness, and excellent ink absorption, making it suitable for high-end publications, advertisements, and packaging [1][2][5]. Supply Side - In recent years, the demand growth for coated paper in China has slowed due to the influence of short videos and electronic media. Consequently, the new production capacity in the domestic coated paper industry has been limited, maintaining a relatively stable capacity scale of approximately 7.04 million tons by the end of 2024 [7][9]. Production Trends - The production of coated paper in China has shown a steady increase, with total annual production rising from 6.2 million tons in 2022 to 6.8 million tons in 2024, reflecting a year-on-year growth rate of 7.94% [9]. Consumption Trends - Coated paper is primarily used in high-quality printing products, with the market share for catalogs and single-page products accounting for 30%, and educational materials making up 24%. Despite a decline in overall consumption due to digital media, the market is expected to recover, with a projected annual consumption of 5.12 million tons in 2024, a year-on-year increase of 3.02% [11]. Import and Export Dynamics - China's coated paper industry has a strong supply capacity, leading to a consistent export market that exceeds imports. The import volume has decreased to 170,000 tons in 2023 but is expected to recover to 220,000 tons in 2024. Exports have significantly increased from 560,000 tons in 2021 to 1.9 million tons in 2024 due to enhanced supply capabilities and market demand recovery [13]. Competitive Landscape - The coated paper market in China is highly concentrated, with major players like Gold East Paper, Chenming Paper, Sun Paper, and Huatai Paper dominating the market. These companies leverage scale advantages, integrated supply chains, and technological innovations to maintain significant market shares, with the top four companies accounting for 87.1% of the market [15][16]. Key Enterprises - Major companies in the coated paper industry include: - Huatai Paper: Leading in newsprint production with the largest single factory globally [16]. - Sun Paper: A significant supplier of various paper products, including coated paper, with a revenue of 40.73 billion yuan in 2024, up 2.99% year-on-year [18]. - Chenming Paper: A large enterprise group with a diverse product range, including high-end coated paper [16]. Development Trends - The industry is moving towards green production, driven by stricter environmental regulations. Companies are adopting low-energy, low-pollution production processes and focusing on recycling technologies to enhance efficiency [20]. - Digital printing technology is reshaping the competitive landscape, offering advantages in short-run printing and customization, while traditional coated paper remains essential for high-end applications [21][22]. - Market segmentation and differentiation are intensifying, with a growing demand for high-quality and functional coated paper products. Companies are expected to enhance brand building and provide customized solutions to meet diverse consumer needs [23].

Group 1 - The company held its 43rd meeting of the 8th Board of Directors on June 9, 2025, via telecommunication voting, complying with relevant laws and regulations [1][2] - The Board approved an investment of 49.67 million yuan for the construction of a comprehensive wastewater utilization project for chemical mechanical pulp [1] - The Board also approved the transfer of 6% equity stake in Ningbo Chengsheng Eco-Construction Co., Ltd. by its wholly-owned subsidiary, Chengtong Kaisheng Eco-Construction Co., Ltd., based on an assessed value [2] Group 2 - The assessed net asset value of Ningbo Chengsheng Eco-Construction Co., Ltd. as of September 30, 2024, was 60.57 million yuan, with the 6% equity stake valued at approximately 3.63 million yuan [2]

证券代码：600963 证券简称：岳阳林纸 公告编号：2025-032 岳阳林纸股份有限公司 关于全资子公司诚通碳汇中标林业碳汇合作开发项目 的公告 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。 岳阳林纸股份有限公司（以下简称"公司"）全资子公司诚通碳汇经营管理(湖 南)有限责任公司（以下简称"诚通碳汇"）近日收到《昌宁育禾农业有限责任公 司关于招商结果的函》，成为昌宁县林业碳汇资源合作开发项目招商中选单位， 具体情况如下： 一、项目概况 云南省昌宁县现有林业用地面积 355.37 万亩（数据来源：该项目招商公告）。 项目开发范围包括全县符合国家政策允许和中国自愿减排项目（CCER）或其他国 际自愿减排项目机制可用于申报林业碳汇项目的所有林地（森林经营项目所涉及 的各类林地），实际面积、范围以项目最终的审定与核证为准。 （二）项目开发时限与合作年限 项目开发时限：自签订项目合作开发合同起至完成首期上市交易不超过 15 个月。 项目合作年限：20 年，具体合作年限以最终签订的合同约定的时间为准。 （三）项目合作方式 项目采取全 ...

证券代码：600963 证券简称：岳阳林纸 公告编号：2025-031 岳阳林纸股份有限公司 （二）董事会会议通知和材料发出的时间、方式 本次董事会会议通知和材料于 2025 年 6 月 3 日以电子邮件的方式发出。 （三）董事会会议召开情况 本次董事会会议于 2025 年 6 月 9 日以通讯表决方式召开。会议应出席董事 7 人，实际出席 7 人。会议由董事长叶蒙主持。 二、 董事会会议审议情况 （一）会议以 7 票同意、0 票反对、0 票弃权审议通过了《关于建设化机浆 废水综合利用项目的议案》。 第八届董事会第四十三次会议决议公告 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。 一、董事会会议召开情况 （一）岳阳林纸股份有限公司（以下简称"公司"）第八届董事会第四十三 次会议的召开符合《公司法》等有关法律、行政法规、部门规章、规范性文件和 《岳阳林纸股份有限公司章程》的规定。 同意投资 4,967 万元建设化机浆废水综合利用项目。 （二）会议以 7 票同意、0 票反对、0 票弃权审议通过了《关于子公司诚通 凯胜转让所持宁波 ...