为深入贯彻落实《国务院关于进一步提高上市公司质量的意见》精神，践行"以 投资者为本"的发展理念，持续提升公司治理水平、经营效率与核心竞争力，增强投 资者的获得感与满意度，仙鹤股份有限公司（以下简称"公司"）于2025年4月29日在 上海证券交易所网站发布了《仙鹤股份有限公司关于2025 年度"提质增效重回报" 行动方案的公告》。 2025年上半年，公司紧紧围绕该方案制定的目标与举措，积极推进各项工作的落 实，并于2025年8月22日召开的第四届董事会第一次会议审议通过了《关于2025年度 "提质增效重回报"行动方案半年度评估报告的议案》。现将具体实施情况报告如下： 一、聚焦主业，强化核心竞争力 2025 年上半年，公司始终坚持"绿色发展、智能制造、高端引领"的发展战略， 深耕特种纸及新材料领域，持续加大研发投入，强化技术创新，不断巩固和提升核心 竞争优势。报告期内，公司完成特种浆纸产量110.79万吨，同比增长98.55%；特种浆 纸销售量83.34万吨，同比增长62.25%；实现营业收入599,108.15 万元，较上年同期增 长30.14%；实现归属于上市公司股东的净利润 47,449.07 万元，较上年 ...

| 证券代码：603733 | 证券简称：仙鹤股份 | | 公告编号：2025-045 | | --- | --- | --- | --- | | 债券代码：113632 | 债券简称：鹤 21 | 转债 | | 仙鹤股份有限公司 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。 根据中国证券监督管理委员会（以下简称"中国证监会"）《上市公司募集资金 监管规则》（中国证券监督管理委员会公告[2025]10 号）、《上海证券交易所上市公司 自律监管指引第 1 号——规范运作》等有关规定，现将仙鹤股份有限公司（以下简 称"公司"、"本公司"）2025 年半年度募集资金存放与使用情况专项说明如下： 一、募集资金基本情况 关于 2025 年半年度募集资金存放与使用情况 的专项报告 （一）实际募集资金金额、资金到账情况 本公司经中国证监会《关于核准仙鹤股份有限公司公开发行可转换公司债券的 批复》（证监许可[2021]3200号）核准，由主承销商东方证券承销保荐有限公司采用 余额包销的方式，公开发行可转换公司债券2,050万张，每张面 ...

| 证券代码：603733 | 证券简称：仙鹤股份 | | 公告编号：2025-048 | | --- | --- | --- | --- | | 债券代码：113632 | 债券简称：鹤 | 21 转债 | | 仙鹤股份有限公司 关于项目投资进展情况的公告 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。 仙鹤股份有限公司（以下简称"公司"）为国内大型高性能纸基功能材料研发和 生产企业，主营业务为研发、生产和销售高性能纸基功能材料及其浆类原材料和化学 原材料。公司致力于打造全球领先的植物基及复合新材料生产研发中心，并在产业链 上下游积极布局，分别在广西来宾、湖北石首、四川合江规划建设生产研发基地。现 将公司投资项目的进展情况公告如下： 一、对外投资概述 （一）公司广西三江口新区高性能纸基新材料项目 2020 年 9 月 16 日，公司与来宾市人民政府签订《来宾市三江口高性能纸基新材 料产业园项目投资框架协议》，就公司在来宾市三江口港产城新区兴宾片区投资建设 "年产 250 万吨高性能纸基新材料及纤维制备项目"达成框架性约 ...

仙鹤股份公告，2025年上半年营业收入59.91亿元，同比增长30.14%。净利润4.74亿元，同比下降 13.80%。 ...

Market Overview - The paper sector experienced a decline of 0.23% on August 21, with Minshida leading the drop [1] - The Shanghai Composite Index closed at 3771.1, up 0.13%, while the Shenzhen Component Index closed at 11919.76, down 0.06% [1] Individual Stock Performance - Qifeng New Material (002521) saw a significant increase of 4.63%, closing at 9.49 with a trading volume of 220,100 shares and a turnover of 206 million yuan [1] - Forest Packaging (605500) rose by 1.56%, closing at 10.40 with a trading volume of 204,300 shares and a turnover of 211 million yuan [1] - Other notable performers include Huawang Technology (605377) with a 1.46% increase and Yibin Paper (600793) with a 0.90% increase [1] Capital Flow Analysis - The paper sector experienced a net outflow of 128 million yuan from institutional investors, while retail investors saw a net inflow of 148 million yuan [2] - The data indicates that retail investors are more active in the paper sector despite the overall decline in the market [2] Detailed Capital Flow for Selected Stocks - Yibin Paper (600793) had a net inflow of 15.65 million yuan from institutional investors, while it faced a net outflow of 11.52 million yuan from speculative funds [3] - Xianhe Co. (603733) saw a net inflow of 6.46 million yuan from institutional investors, but a significant outflow of 11.94 million yuan from speculative funds [3] - Qifeng New Material (002521) had a net inflow of 4.04 million yuan from institutional investors, with a notable outflow from speculative funds [3]

Core Viewpoint - The paper industry sector experienced a 0.5% increase on August 20, with Annie Co. leading the gains, while the overall market indices also showed positive performance [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 3766.21, up 1.04% [1]. - The Shenzhen Component Index closed at 11926.74, up 0.89% [1]. Group 2: Individual Stock Performance - Annie Co. (002235) closed at 9.04, with a rise of 4.15%, and a trading volume of 1.4162 million shares, totaling a transaction value of 1.258 billion [1]. - BoHui Paper (600966) closed at 5.31, up 3.31%, with a trading volume of 204,000 shares, totaling 106 million [1]. - QiFeng New Materials (002521) closed at 9.07, increasing by 2.14%, with a trading volume of 114,200 shares, totaling 104 million [1]. - Forest Packaging (605500) closed at 10.24, up 1.69%, with a trading volume of 147,300 shares, totaling 150 million [1]. - Hengfeng Paper (600356) closed at 9.28, increasing by 1.64%, with a trading volume of 49,900 shares, totaling 45.9795 million [1]. - Minfeng Special Paper (600235) closed at 6.63, up 1.38%, with a trading volume of 78,900 shares, totaling 52.0111 million [1]. - Yibin Paper (600793) closed at 25.59, increasing by 1.35%, with a trading volume of 69,800 shares, totaling 178 million [1]. - Qingshan Paper (600103) closed at 2.36, up 1.29%, with a trading volume of 489,200 shares, totaling 1.15 billion [1]. - Rongsheng Environmental Protection (603165) closed at 12.55, increasing by 1.13%, with a trading volume of 36,600 shares, totaling 45.8246 million [1]. - Guanmeng High-tech (600433) closed at 3.17, up 0.96%, with a trading volume of 185,600 shares, totaling 58.3962 million [1]. Group 3: Capital Flow - The paper sector saw a net inflow of 101 million from main funds, while retail funds experienced a net outflow of 11.7049 million [2].

Investment Rating - The report assigns an "Accumulate" rating for the paper industry [4]. Core Insights - In the short term, the report anticipates an increase in pulp costs and prices due to overseas supply shocks and changes in the supply-demand dynamics in the European and American markets. In the long term, the cost of domestic pulp is expected to decrease due to changes in the pulp structure, benefiting leading integrated pulp and paper manufacturers with upstream forest resources and green energy [2][4]. Summary by Sections Investment Recommendations - The report suggests that leading integrated pulp and paper manufacturers, such as Sun Paper, Xianhe Co., Wuzhou Special Paper, Bohui Paper, Shanying International, and Nine Dragons Paper, are expected to benefit from the full industry chain resource layout and operational advantages [7]. Domestic Pulp Prices and Global Supply-Demand - Domestic pulp prices are closely linked to overseas markets, with global supply and demand primarily driving domestic pulp prices. In 2024, domestic consumption of broadleaf pulp, softwood pulp, chemical pulp, and unbleached pulp is projected to be 2,353, 826, 656, and 95 thousand tons, respectively [9][11]. Supply Shocks and Price Impact - Supply shocks have significantly impacted short-term pulp prices, with an average of approximately 2 million tons of capacity permanently shut down annually since 2017. The report notes that supply disruptions are influenced by market factors, strikes, natural disasters, and equipment failures [76][79]. Long-term Cost Structure Changes - Changes in the pulp structure are expected to lower the long-term cost base in China. The report highlights that the price gap between softwood and broadleaf pulp has widened, with broadleaf pulp's demand share increasing by 10 percentage points to 74% [4][103]. Cost Curve Changes and Pricing - The cost curve is primarily determined by wood costs, with logistics and energy costs also playing significant roles. The report indicates that logistics costs account for 10-20% and energy costs for 15-20% of total costs, with leading pulp manufacturers optimizing costs through strategic location layouts [5][29].

金融界消息 截至2025年8月19日收盘，仙鹤股份（603733）报收于26.34元，上涨2.73%，换手率 0.89%，成交量6.26万手，成交金额1.64亿元。 通过天眼查大数据分析，仙鹤股份有限公司共对外投资了21家企业，参与招投标项目340次，知识产权 方面有商标信息18条，专利信息149条，此外企业还拥有行政许可24个。 资金流向方面，今日主力资金净流入1209.22万元，占比成交额7.39%。其中，超大单净流入345.06万 元、占成交额2.11%，大单净流入864.16万元、占成交额5.28%，中单净流出流入339.43万元、占成交额 2.08%，小单净流出1548.65万元、占成交额9.47%。 来源：金融界 仙鹤股份最新一期业绩显示，截至2025一季报，公司营业总收入29.91亿元、同比增长35.42%，归属净 利润2.36亿元，同比减少12.13%，扣非净利润2.24亿元，同比减少5.46%，流动比率1.685、速动比率 0.987、资产负债率65.49%。 天眼查商业履历信息显示，仙鹤股份有限公司，成立于2001年，位于衢州市，是一家以从事居民服务业 为主的企业。企业注册资本70597. ...

Market Overview - The paper sector increased by 0.57% on August 18, with Hengda New Materials leading the gains [1] - The Shanghai Composite Index closed at 3728.03, up 0.85%, while the Shenzhen Component Index closed at 11835.57, up 1.73% [1] Individual Stock Performance - Hengda New Materials (301469) closed at 31.69, up 5.95% with a trading volume of 50,600 and a turnover of 158 million [1] - ST Morning (000488) closed at 2.30, up 3.60% with a trading volume of 477,500 and a turnover of 109 million [1] - BoHui Paper (600966) closed at 5.17, up 2.78% with a trading volume of 315,500 and a turnover of 164 million [1] - Other notable performers include Minshida (833394) up 2.67%, Huawang Technology (605377) up 2.58%, and Hengfeng Paper (600356) up 2.46% [1] Capital Flow Analysis - The paper sector experienced a net outflow of 57.59 million from institutional investors and 13.46 million from speculative funds, while retail investors saw a net inflow of 71.05 million [2] - Notable net inflows from retail investors were observed in Sun Paper (002078) with 49.32 million, and Hengfeng Paper (600356) with 14.96 million [3] - Conversely, significant net outflows from institutional investors were noted in Sun Paper (-36.67 million) and Hengda New Materials (-28.62 million) [3]

仙鹤股份最新一期业绩显示，截至2025一季报，公司营业总收入29.91亿元、同比增长35.42%，归属净 利润2.36亿元，同比减少12.13%，扣非净利润2.24亿元，同比减少5.46%，流动比率1.685、速动比率 0.987、资产负债率65.49%。 来源：金融界 金融界消息 截至2025年8月15日收盘，仙鹤股份（603733）报收于25.28元，上涨1.4%，换手率0.95%， 成交量6.69万手，成交金额1.69亿元。 天眼查商业履历信息显示，仙鹤股份有限公司，成立于2001年，位于衢州市，是一家以从事居民服务业 为主的企业。企业注册资本70597.5551万人民币，实缴资本70579.6063万人民币。公司法定代表人为王 敏良。 资金流向方面，今日主力资金净流出1570.13万元，占比成交额9.32%。其中，超大单净流出2177.20万 元、占成交额12.92%，大单净流入607.06万元、占成交额3.6%，中单净流出流入599.40万元、占成交额 3.56%，小单净流入970.73万元、占成交额5.76%。 通过天眼查大数据分析，仙鹤股份有限公司共对外投资了21家企业，参与招投标项目340次， ...