证券代码：600966 证券简称：博汇纸业 编号：临 2020-058 山东博汇纸业股份有限公司 关于参加 2020 年山东辖区上市公司投资者 网上集体接待日活动的公告 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个别及连带责任。 为进一步做好投资者关系管理工作，加强与投资者的互动交流，使广大投资者 能更深入全面地了解公司情况，山东博汇纸业股份有限公司(以下简称"公司")将 参加 "山东辖区上市公司 2020 年度投资者网上集体接待日"活动，现将有关事项 公告如下： 本次投资者网上集体接待日活动将通过深圳市全景网络有限公司提供的互联网 平台举行,投资者可以登录"全景·路演天下"网站（http://rs.p5w.net），参与 本次网上投资者接待日活动，活动时间为 2020 年 9 月 29 日（星期二）15：00 至 16： 55。 公司董事会秘书刘鹏先生、证券事务代表王健阳先生将通过网络在线交流形式 与投资者进行沟通与交流，欢迎广大投资者积极参与。 特此公告。 山东博汇纸业股份有限公司董事会 二○二○年九月二十五日 ...

公司代码：600966 公司简称：博汇纸业 2020 年半年度报告 山东博汇纸业股份有限公司 2020 年半年度报告 1 / 134 2020 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人李刚、主管会计工作负责人金文娟及会计机构负责人（会计主管人员）伊丽丽声 明：保证半年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告所涉及的未来计划、发展战略等前瞻性陈述，不构成公司对投资者的实质承诺，请投 资者注意投资风险。 七、 是否存在被控股股东及其关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况？ 否 九、 重大风险提示 公司已在本报告中对可能面对的风险进行了详细描述，敬请查阅第四节经营状况讨论与分析 中关于公司未来发展的讨论与分析中可能面对的风险因素及对策部分的 ...

Financial Performance - The company's operating revenue for 2019 was RMB 9,739,798,778.15, representing a 16.79% increase compared to RMB 8,339,442,569.28 in 2018[24] - The net profit attributable to shareholders of the listed company decreased by 47.73% to RMB 133,772,535.64 from RMB 255,941,574.98 in the previous year[24] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 175,783,901.77, down 32.39% from RMB 260,013,737.60 in 2018[24] - The net cash flow from operating activities was RMB 1,137,292,467.66, an increase of 5.98% compared to RMB 1,073,128,413.21 in 2018[24] - As of the end of 2019, the total assets amounted to RMB 19,368,980,120.81, a 4.76% increase from RMB 18,488,250,228.01 at the end of 2018[24] - The net assets attributable to shareholders of the listed company were RMB 5,271,966,486.51, reflecting a 2.60% increase from RMB 5,138,282,322.04 in 2018[24] - The basic earnings per share for 2019 were RMB 0.1001, down 47.73% from RMB 0.1915 in 2018[24] - The diluted earnings per share also stood at RMB 0.1001, a decrease of 47.73% compared to the previous year[24] Cash Dividends - The company plans to distribute a cash dividend of RMB 0.17 per 10 shares, totaling RMB 22,726,352.90 based on the total share capital of 1,336,844,288 shares[6] - The proposed cash dividend for 2019 represents 16.99% of the net profit attributable to shareholders, which is RMB 133,772,535.64[90] - Over the past three years, the company has distributed a total of RMB 125,635,646.13 in cash dividends, which is 30.25% of the average annual distributable profit during this period[90] Operational Efficiency - The company has established two production bases in Shandong and Jiangsu, enhancing its operational efficiency and market reach[35] - The company has invested in advanced production equipment and processes to reduce product consumption and pollution, supporting sustainable development[44] - The company implemented a "target cost" management approach to control costs and link savings to employee income, enhancing operational efficiency[44] - The company aims to optimize product structure to enhance product value and improve operational performance, reducing operational risks[79] Industry Context - The company operates in the paper manufacturing industry, which is characterized by high capital intensity and significant resource consumption[37] - The industry experienced a downturn due to the US-China trade war, but conditions improved towards the end of the reporting period[37] - The paper industry is experiencing a recovery due to the easing of US-China trade tensions and a decline in raw material prices, which is expected to improve the overall industry outlook[78] - The company is positioned to benefit from national environmental governance and supply-side structural reforms, which are accelerating the elimination of outdated production capacity in the paper industry[78] Research and Development - The company’s R&D expenses increased by 32.05% to CNY 7.48 million, reflecting its commitment to innovation and product quality improvement[48] - The total R&D investment accounted for 0.08% of operating revenue, with 471 R&D personnel, representing 10.75% of the total workforce[60] - The company plans to increase R&D investment and technological innovation to lower production costs and stabilize product quality[83] Environmental Responsibility - The company maintains a strong focus on environmental protection, with pollution discharge indicators ranking among the best in the industry[44] - The company has invested in advanced pollution control facilities, including a black liquor recovery boiler with a daily processing capacity of 910 tons and a mid-stage water treatment system with a daily capacity of 100,000 cubic meters[2] - The company received a total of RMB 900,000 in fines for exceeding ammonia nitrogen concentration limits in wastewater discharges during 2019[4] - The company has implemented measures to reduce daily wastewater discharge and enhance treatment capacity following regulatory penalties[4] Risks and Challenges - The company faces business operation risks due to reliance on imported wood pulp, which may increase cost pressures if prices fluctuate[84] - Environmental risks are present as the company must continuously invest in pollution control to meet increasing regulatory standards[84] - The company is exposed to policy risks as changes in national industrial policies may impact operations and development[84] - The competitive landscape is intensifying, with domestic and foreign companies increasing production capacity, potentially affecting pricing and sales[84] Shareholder Information - The total number of common stock shareholders at the end of the reporting period was 61,285, an increase from 44,007 at the end of the previous month[139] - The largest shareholder, Shandong Bohui Group Co., Ltd., holds 385,496,958 shares, representing 28.84% of total shares, with 202,600,000 shares pledged[142] - The top three shareholders collectively hold 434,197,501 shares, which is approximately 48.84% of the total shares[142] Management and Governance - The company has a diverse management team with extensive experience in various roles within the organization[165] - The company adheres to corporate governance standards, continuously improving its governance structure and internal control systems[178] - An internal control self-evaluation report has been disclosed, confirming no significant deficiencies during the reporting period[182] Employee Information - The total number of employees in the parent company and major subsidiaries is 4,382, with 2,600 in the parent company and 1,782 in major subsidiaries[173] - The workforce consists of 3,511 production personnel, 181 sales personnel, 471 technical personnel, 85 financial personnel, and 134 administrative personnel[173] - Employee training programs are in place, combining internal and external training to enhance skills and knowledge, ensuring talent support for business development[175]

2020 年第一季度报告 I 公司代码：600966 公司简称：博汇纸业 山东博汇纸业股份有限公司 2020 年第一季度报告 1 / 24 2020 年第一季度报告 一、 二、 11Í 四、 目录 | --- | |----------------| | | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 24 2020 年第一季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人李刚、主管会计工作负责人金文娟及会计机构负责人（会计主管人员）伊丽丽保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |-----------------------------------------------|-------------------|------ ...

2019 年第三季度报告 公司代码：600966 公司简称：博汇纸业 山东博汇纸业股份有限公司 2019 年第三季度报告 1 / 26 2019 年第三季度报告 一、 重要提示 二、 公司基本情况. 11[ 重要事项 四、 附录 目录 2 / 26 2019 年第三季度报告 单位：元 币种：人民币 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人李刚、主管会计工作负责人金文娟及会计机构负责人（会计主管人员）伊丽丽保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |-----------------------------------------------|------------------------------|------------------------------------|-- ...

公司代码：600966 公司简称：博汇纸业 2019 年半年度报告 山东博汇纸业股份有限公司 2019 年半年度报告 1 / 130 2019 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人李刚、主管会计工作负责人金文娟及会计机构负责人（会计主管人员）伊丽丽声 明：保证半年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告所涉及的未来计划、发展战略等前瞻性陈述，不构成公司对投资者的实质承诺，请投 资者注意投资风险。 七、 是否存在被控股股东及其关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况？ 否 九、 重大风险提示 公司已在本报告中对可能面对的风险进行了详细描述，敬请查阅第四节经营状况讨论与分析 中关于公司未来发展的讨论与分析中可能面对的风险因素及对策部分的 ...

Financial Performance - The company's operating revenue for 2018 was CNY 8,339,442,569.28, a decrease of 6.87% compared to CNY 8,954,811,111.50 in 2017[28]. - The net profit attributable to shareholders of the listed company was CNY 255,941,574.98, down 70.11% from CNY 856,136,033.17 in the previous year[28]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 260,013,737.60, a decrease of 69.98% compared to CNY 866,003,038.39 in 2017[28]. - The net cash flow from operating activities was CNY 1,073,128,413.21, down 16.57% from CNY 1,286,276,938.72 in the previous year[28]. - Basic earnings per share decreased by 70.10% to ¥0.1915 from ¥0.6404 in the previous year[31]. - The weighted average return on net assets fell by 13.82 percentage points to 5.05% from 18.87%[31]. - The company's total operating revenue for 2018 was CNY 8,339,442,569.28, a decrease of 6.87% year-on-year, while the net profit attributable to shareholders was CNY 25,594.16 million, down 70.11%[46]. - The gross profit margin for the main business was 15.99%, a decrease of 8.02 percentage points compared to the previous year, primarily due to falling sales prices and high inventory costs[46]. - The company reported a net profit of 255,941,574.98 RMB for 2018, with a dividend payout ratio of 40.21% for that year[86]. Investments and Projects - The company plans to invest ¥32.31 billion in a new high-end packaging paper project, with an expected production capacity of 750,000 tons per year starting in Q2 2019[40]. - Another investment of ¥23.36 billion is planned for producing 500,000 tons of high-strength corrugated paper, with production expected to begin in Q2 2019[40]. - The company invested in upgrading existing production facilities and planning new projects to enhance production efficiency and product quality[46]. - Jiangsu Bohui plans to invest CNY 3.231 billion to construct a new high-end packaging paper project with an annual capacity of 750,000 tons, expected to commence production in Q2 2019[69]. - The company has invested CNY 2.336 billion in a project to produce 500,000 tons of high-strength corrugated paper, with cumulative investment reaching CNY 2.379 billion by the end of 2018, also expected to start production in Q2 2019[69]. Operational Efficiency - The company operates under a "sales-driven production" model to enhance inventory turnover and reduce costs[39]. - The company implemented a "target cost" management approach to control costs and improve production efficiency, linking cost savings to employee compensation[43]. - The company aims to optimize its product structure to enhance product value and reduce operational risks while focusing on expanding its card paper packaging products[74]. - Accelerating the integration of forestry, pulp, and paper production is a key strategy, with plans to increase self-sourced wood pulp and improve self-sufficiency rates[77]. Environmental and Regulatory Compliance - The company emphasizes the importance of safety and environmental protection, with ongoing investments in these areas to ensure sustainable development[78]. - The company has invested in advanced pollution control facilities, including a black liquor recovery boiler with a daily processing capacity of 910 tons and a wastewater treatment system with a capacity of 100,000 cubic meters per day[121]. - The company has established a comprehensive environmental protection management system and has implemented real-time monitoring of all discharge outlets[127]. - The company has received multiple fines totaling CNY 130,000 for environmental violations, including improper waste discharge and failure to meet pollution control standards[128]. - The company has a total annual discharge limit of 564.69 tons for COD, 56.469 tons for ammonia nitrogen, 10.65 tons for particulate matter, 253.26 tons for SO2, and 106.5 tons for NOX as per its pollution discharge permit[118]. Shareholder and Governance Matters - The company proposed a cash dividend of 0.17 RMB per 10 shares for the fiscal year 2018, totaling 22,726,352.90 RMB, which represents 8.88% of the net profit attributable to shareholders[86]. - The company has committed to not engage in direct or indirect competition with its controlling shareholder, ensuring compliance with competitive commitments since 2002[89]. - The company has maintained a long-term commitment to not reduce its shareholding within 12 months after acquiring additional shares in 2016[89]. - The company’s board of directors and management are evaluated based on profitability and individual contributions[152]. - The company has a stable management team with no significant changes in personnel during the reporting period[153]. Risk Management - The company has detailed potential risks in its report, including those related to future development strategies[9]. - The reliance on imported wood pulp exposes the company to business operation risks due to potential price fluctuations in the international market[82]. - Environmental regulations may increase operational costs as the company strives to meet higher standards set by national and provincial authorities[82]. - The competitive landscape in the paper industry is intensifying, which may lead to increased raw material costs and pressure on profit margins[82]. Employee and Training Initiatives - The total number of employees in the company is 5,031, with 4,054 in production, 233 in sales, 547 in technical roles, 105 in finance, and 92 in administration[156]. - The training program includes internal and external training, covering onboarding, skills development, safety training, and continuing education for technical and management staff[156]. - The company has established a compensation assessment system based on job responsibilities, performance, and skills, ensuring fair and motivating pay structures[156]. Audit and Financial Reporting - The audit aimed to provide reasonable assurance that the financial statements are free from material misstatement, whether due to fraud or error[178]. - The audit report emphasizes the importance of evaluating the appropriateness of accounting policies and the reasonableness of management's estimates and disclosures[181]. - Management is responsible for preparing financial statements in accordance with accounting standards and ensuring the absence of material misstatements due to fraud or error[177].

Financial Performance - Operating revenue for the period was ¥2,170,504,514.60, representing an increase of 26.42% year-on-year[12] - Net profit attributable to shareholders was ¥122,429,789.08, a decrease of 40.30% compared to the same period last year[12] - Basic earnings per share were ¥0.0916, down 40.29% from ¥0.1534 in the same period last year[12] - The weighted average return on equity was 2.34%, a decrease of 1.70 percentage points compared to the previous year[12] - The company reported an operating profit of ¥150,704,530.44, down from ¥271,778,563.61, a decline of about 44.5%[45] - The total profit for the period was ¥150,824,060.23, compared to ¥272,033,759.41 in the previous period, reflecting a decrease of approximately 44.4%[45] - Other comprehensive income after tax was ¥897,741.99, down from ¥2,175,040.39, a decrease of approximately 58.8%[47] - The company experienced a significant reduction in tax expenses, which fell to ¥28,394,271.15 from ¥66,868,982.16, a decrease of about 57.5%[45] Cash Flow - Net cash flow from operating activities was ¥344,848,510.89, an increase of 9.58% year-on-year[12] - The net cash flow from operating activities for the first quarter of 2019 was CNY 344,848,510.89, an increase of 9.8% from CNY 314,703,683.43 in the same period last year[56] - The cash outflow from operating activities was CNY 1,432,984,421.28, compared to CNY 1,488,526,908.05 in the previous year, showing a reduction in cash outflow[56] - The net cash flow from investing activities was -CNY 232,888,470.55, a decrease from -CNY 370,900,777.41 in the first quarter of 2018[56] - Cash inflow from financing activities was CNY 2,533,285,389.30, down from CNY 2,969,522,993.28 in the same quarter last year[56] - The company reported a decrease in cash received from sales of goods and services, totaling CNY 1,771,955,572.67 in Q1 2019, down from CNY 1,797,619,617.35 in Q1 2018[52] Assets and Liabilities - Total assets at the end of the reporting period were ¥18,409,334,800.17, a decrease of 0.43% compared to the end of the previous year[12] - Current liabilities totaled CNY 8,903,761,414.96, down from CNY 9,097,465,339.61 at the end of 2018[33] - Long-term borrowings amounted to CNY 3,415,013,225.58, an increase from CNY 3,311,719,502.77 at the end of 2018[33] - Total liabilities decreased from CNY 13,349,967,905.97 to CNY 13,122,074,639.40, a reduction of approximately 1.7%[35] - Current assets decreased from CNY 3,179,314,418.09 to CNY 3,032,464,924.25, a decline of about 4.6%[39] - Total current liabilities were approximately $6.33 billion, with short-term borrowings at $2.78 billion[73] Shareholder Information - The total number of shareholders at the end of the reporting period was 83,310[16] - The largest shareholder, Shandong Bohui Group Co., Ltd., held 385,496,958 shares, accounting for 28.84% of the total[19] Research and Development - Research and development expenses for Q1 2019 were CNY 1,879,063.62, an increase of 78.08% year-on-year, primarily due to increased R&D spending[22] - Research and development expenses rose to ¥1,879,063.62 from ¥1,055,182.60, indicating an increase of approximately 78.0%[45] Investment Activities - The company has invested CNY 32.31 billion in a project to produce 750,000 tons of high-grade packaging paper, with a cumulative investment of CNY 31.82 billion by the end of Q1 2019, expected to commence production in Q2 2019[23] - The company has also invested CNY 23.36 billion in projects to produce 500,000 tons of high-grade corrugated paper and 500,000 tons of high-strength boxboard, with a cumulative investment of CNY 25.16 billion by the end of Q1 2019, expected to start production in Q2 2019[23] Financial Management - The company is in the process of implementing new financial instruments and revenue recognition standards, which may impact future financial reporting[61] - The company plans to implement new financial reporting standards starting January 1, 2019, affecting future disclosures[76]

2018 年第三季度报告 公司代码：600966 公司简称：博汇纸业 山东博汇纸业股份有限公司 2018 年第三季度报告 1 / 19 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 7 | 2018 年第三季度报告 一、 重要提示 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 本报告期末 上年度末 本报告期末比上年度末增 减(%) 总资产 16,398,941,308.14 13,349,210,717.94 22.85 归属于上市公司股 东的净资产 5,472,174,807.62 4,966,434,089.63 10.18 年初至报告期末 （1-9 月） 上年初至上年报告期末 （1-9 月） 比上年同期增减(%) 经营活动产生的现 金流量净额 1,101,679,546.53 813,581,458.38 35.41 年初至报告期末 （1-9 月） 上年初至上年报告期末 （1-9 月） 比上年同期增减 （%） 营 ...

2018 年半年度报告 公司代码：600966 公司简称：博汇纸业 山东博汇纸业股份有限公司 2018 年半年度报告 公司2018年中期利润分配预案为：以公司最新股本1,336,844,288股为基数，向全体股东每10 股派发现金红利人民币0.60元（含税），合计派发现金红利人民币80,210,657.28元，不送红股， 不以资本公积金转增股本。 六、 前瞻性陈述的风险声明 √适用 □不适用 1 / 116 2018 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人李刚、主管会计工作负责人金文娟及会计机构负责人（会计主管人员）伊丽丽声 明：保证半年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 本报告所涉及的未来计划、发展战略等前瞻性陈述，不构成公司对投资者的实质承诺，请投 资者注意投资风险。 七、 是否存在被控股股东及其关联方非经营性占用资金情 ...