Group 1 - The core viewpoint of the news is that Fenglin Group has experienced a decline in both revenue and net profit, indicating potential challenges in its financial performance [2] - As of January 30, Fenglin Group's stock price increased by 1.68%, with a trading volume of 86.63 million yuan, while the net financing buy was negative at -1.12 million yuan [1] - The financing balance of Fenglin Group is 123 million yuan, which accounts for 4.52% of its market capitalization, indicating a low level compared to the past year [1] Group 2 - For the period from January to September 2025, Fenglin Group reported a revenue of 1.261 billion yuan, a year-on-year decrease of 16.61%, and a net profit attributable to shareholders of -59.35 million yuan, a decrease of 138.77% [2] - The company has distributed a total of 689 million yuan in dividends since its A-share listing, with 135 million yuan distributed in the last three years [3] - As of September 30, 2025, the number of shareholders in Fenglin Group decreased by 5.62% to 26,100, while the average circulating shares per person increased by 5.95% to 42,999 shares [2]

Core Viewpoint - The wood chip recycling industry in China is rapidly developing, driven by environmental policies and the need for resource utilization, with significant market potential projected for the coming years [1][9]. Overview - Wood chips, also known as wood powder or sawdust, are a byproduct of wood processing, primarily composed of cellulose, hemicellulose, and lignin, and are used for fuel, lightweight fillers, and as raw materials for engineered wood products and paper [2][3]. Development History - The wood chip industry in China has evolved from low-value utilization to high-value development, influenced by forestry resource use, downstream demand, and environmental policies, entering a high-quality development phase since 2021 [5][6]. Industry Chain - The wood chip industry chain consists of upstream raw material supply, midstream processing, and downstream applications, transitioning from decentralized collection to centralized processing and high-value applications [6][8]. Current Development - The demand for wood chips in China is expected to reach 40.058 million tons by 2025, with a market size of 15.454 billion yuan, driven by applications in biomass pellets, edible fungus cultivation, paper making, and engineered wood products [1][9]. Competitive Landscape - The wood chip market in China is highly fragmented, with a large number of small enterprises, as over 60% of registered companies have a capital of less than 2 million yuan, while only a small fraction exceeds 50 million yuan [11]. Development Trends - The wood chip industry is expected to see enhanced resource recycling value due to policy support for efficient utilization of forestry waste and wood processing byproducts, leading to a shift towards environmentally compliant processing [13]. - Technological innovations will drive the industry towards high-end product structures, improving production efficiency and expanding high-end application scenarios [14]. - The application of wood chips will diversify, with growth in traditional sectors like biomass energy and emerging fields such as agricultural substrates and environmental restoration materials [15].

Core Viewpoint - Fenglin Group emphasizes its commitment to the artificial board industry, focusing on intelligent upgrades and green manufacturing, while clarifying that the chairman's previous experience at Mitsubishi Electric is a personal career matter [2] Group 1 - The company responded to investor inquiries on January 19, indicating that the chairman, Liu Nian, has a background in the semiconductor division of Mitsubishi Electric [2] - The company remains dedicated to the development of its main business in the artificial board sector [2] - Any significant strategic adjustments in the future will be disclosed in accordance with information disclosure regulations [2]

（文章来源：证券日报） 证券日报网讯 1月19日，丰林集团在互动平台回答投资者提问时表示，公司始终重视股东回报与市值管 理，通过持续优化经营效率、强化信息披露及与投资者沟通，努力提升内在价值。未来公司将严格遵循 监管要求，聚焦主业稳健发展，为股东创造长期价值。 ...

Core Viewpoint - The company, Fenglin Group, anticipates a significant decline in net profit for the year 2025, projecting a loss between 100 million to 148 million yuan, reflecting a year-on-year change of -23.35% to 16.66% [1] Company Summary - The expected net profit attributable to shareholders after deducting non-recurring gains and losses for 2025 is also projected to be between 100 million to 148 million yuan, with a year-on-year change of -18.12% to 20.19% [1] - The company is facing continuous pressure on sales of its man-made board products due to the ongoing adjustment in the domestic real estate market, which has led to weak demand in the downstream decoration and furniture industries [1] - The overall market is experiencing an oversupply situation as new production capacity continues to be released, resulting in a decline in both sales volume and prices of the company's main products compared to the previous year [1] - In response to market changes and to maintain reasonable inventory levels, the company has dynamically adjusted its production plans, which has led to increased downtime and corresponding losses compared to the previous year [1] Industry Summary - The decoration and furniture industries are currently experiencing a prolonged period of weak demand due to the adjustments in the domestic real estate market [1] - The industry is characterized by an imbalance in supply and demand, with a notable oversupply as new production capacities are introduced [1]

证券代码：601996 证券简称：丰林集团 公告编号：2026-002 广西丰林木业集团股份有限公司 2025年年度业绩预告 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。 ⚫广西丰林木业集团股份有限公司（以下简称"公司"）预计 2025 年年度实 现归属上市公司股东的净利润为-10,000.00 万元至-14,800.00 万元，与上年同 期（法定披露数据）相比，将减少 2,801.44 万元至增加 1,998.56 万元,同比变 动-23.35%至 16.66%。 ⚫公司预计，2025 年年度实现扣除非经常性损益之后归属于上市公司股东的 净利润为-10,000.00 万元至-14,800.00 万元，与上年同期(法定披露数据)相比， 将减少 2,270.26 万元至增加 2,529.74 万元，同比变动-18.12%至 20.19%。 一、本期业绩预告情况 （一）业绩预告期间 2025 年 1 月 1 日至 2025 年 12 月 31 日 （二）业绩预告情况 经财务部门初步测算，预计 2025 年年度实现归属于母公司所有 ...

Core Viewpoint - The company, Fenglin Group, expects a significant decline in net profit for the year 2025, projecting a loss between 100 million to 148 million yuan, indicating a potential decrease compared to the previous year [1] Financial Performance - The projected net profit attributable to shareholders for 2025 is expected to be between -100 million yuan and -148 million yuan, which represents a change of -28.01 million yuan to an increase of 19.99 million yuan compared to the previous year, reflecting a year-on-year change of -23.35% to 16.66% [1] - The projected net profit after deducting non-recurring gains and losses for 2025 is also expected to be between -100 million yuan and -148 million yuan, with a change of -22.70 million yuan to an increase of 25.30 million yuan compared to the previous year, indicating a year-on-year change of -18.12% to 20.19% [1]

证券日报网讯1月8日，丰林集团（601996）发布公告称，截至本公告披露日，公司及下属公司对外担保 总额(包含已批准的担保额度内尚未使用额度与担保实际发生余额之和)为人民币6.65亿元(包括公司向 子、孙公司提供担保，子、孙公司间互相提供担保)，占公司2024年度经审计净资产的比例为25.44%； 上市公司对控股子公司提供的担保总额为6.65亿元，占公司2024年度经审计净资产的比例为25.44%。公 司不存在对控股股东和实际控制人及其关联人提供的担保，不存在逾期担保的情况。 ...

Group 1 - The core point of the article is that Fenglin Group announced a total external guarantee amount of RMB 665 million, which accounts for 25.44% of the company's audited net assets for the fiscal year 2024 [1] Group 2 - The total guarantee provided by the listed company to its controlling subsidiary is also RMB 665 million, representing the same percentage of 25.44% of the audited net assets for 2024 [1]

证券代码：601996 证券简称：丰林集团 公告编号：2026-001 广西丰林木业集团股份有限公司 关于为全资子公司提供担保的公告 一、担保情况概述 （一）担保基本情况 为满足子公司日常经营发展的资金需求，公司于 2026 年 1 月 7 日与中信银 行股份有限公司南宁分行（以下简称"中信银行南宁分行"）签署最高额保证合同， 为公司全资子公司钦州丰林在中信银行南宁分行取得的融资提供不超过人民币 2,000 万元的连带责任保证担保，保证期间为主合同项下债务履行期限届满之日 起三年。上述担保不存在反担保，不涉及子公司其他股东提供担保情况。 广西钦州丰林木业有限公司（以下简称"钦州丰林"）。 钦州丰林为广西丰林木业集团股份有限公司（以下简称"丰林集团"或"公 司"）子公司，不涉及关联交易。 ● 本次担保金额及已实际为其提供的担保余额： 本次公司为钦州丰林担保金额为人民币 2,000 万元。截至本公告披露日，公 司已实际为钦州丰林提供的担保余额为人民币 3,000 万元。 ● 特别风险提示：本次担保存在为资产负债率超 70%的控股子公司提供担 保的情况，敬请投资者注意相关风险。 本公司董事会及全体董事保证本公告内容 ...