仙鹤股份有限公司 接待机构投资者调研活动会议纪要 一、机构调研情况 调研时间：2021年1月15日 调研地点：公司会议室（衢江区天湖南路69号） 调研形式：现场接待 来访机构：国金证券 公司接待人员：董事会秘书 王昱哲 二、调研行程安排 到访的调研机构与公司领导进行了交流，并参观了公司产业创新服务综合体 及智能化特种纸生产线。 三、调研会议纪要 （一）公司概况介绍环节 会议开始，由公司董事会秘书王昱哲先生向与会者介绍了公司目前的发展概 况。公司为国内大型高性能纸基功能材料研发和生产企业。在国内布局了包括浙 江衢江、河南内乡和浙江常山3个造纸基地，目前公司及其控股子公司、合营公 司已拥有45条现代化造纸生产线，1条纸浆生产线，21条涂布生产线和7台超级压 光机，并拥有化工、制浆、能源、物流、原纸及纸制品等全产业链生产产能，产 业宽度和产业深度布局相对完善，年生产能力超90万吨。同时，公司也以纸基功 能材料研发制造为核心，积极推动制汽制电、化工材料、工业水处理及固废处理、 分布式光伏发电、物流及消费终端产品等新材料、新能源以及上下游一体化等多 元化产业的发展。公司在扩大主业发挥规模优势的同时，公司的产品多元化优势 ...

仙鹤股份有限公司 接待机构投资者调研活动会议纪要 一、机构调研情况 调研时间：2021年1月6日 调研地点：公司会议室（衢江区天湖南路69号） 调研形式：现场接待及电话会议 来访机构：东北证券、中银国际证券自营、长盛基金、东吴基金、新同方基 金、建信保险资管、信泰人寿资管、西南资管、格栅汇投资、凯丰投资、宏羽投 资、齐家（上海）投资、富恩德（北京）资产、睿扬投资、鼎锋资产、金控资产、 煜德投资、雷钧资产、长城财富、华夏财富、建信理财、国寿安保、国寿养老、 交银康联人寿等 公司接待人员：董事会秘书 王昱哲、证券部主任 叶青 二、调研行程安排 到访的调研机构及其他投资者与公司领导进行了交流，并参观了公司产业创 新服务综合体及智能化特种纸生产线。 三、调研会议纪要 （一）公司概况介绍环节 会议开始，由公司董事会秘书王昱哲先生向与会者介绍了公司目前的发展概 况。公司为国内大型高性能纸基功能材料研发和生产企业。在国内布局了包括浙 江衢江、河南内乡和浙江常山3个造纸基地，目前公司及其控股子公司、合营公 司已拥有45条现代化造纸生产线，1条纸浆生产线，21条涂布生产线和7台超级压 光机，并拥有化工、制浆、能源、物流、原纸及 ...

仙鹤股份有限公司 接待机构投资者调研活动会议纪要 一、机构调研情况 调研时间：2020年12月9日至24日 调研地点：公司会议室（衢江区天湖南路69号） 调研形式：现场接待及电话会议 来访机构：浙商证券、中信证券、中信建投证券、长江证券自营、工银瑞信、 景林资产、瑞廷资产、南方基金、平安基金、贝莱德投资、泾溪投资、立元投资、 红骅投资、混沌投资等 公司接待人员：董事会秘书 王昱哲 二、调研行程安排 到访的调研机构及其他投资者与公司领导进行了交流，并参观了公司产业创 新服务综合体及智能化特种纸生产线。 三、调研会议纪要 （一）公司概况介绍环节： 会议开始，由公司董事会秘书王昱哲先生向与会者介绍了公司目前的发展概 况。公司为国内大型高性能纸基功能材料研发和生产企业。在国内布局了包括浙 江衢江、河南内乡和浙江常山3 个造纸基地，目前公司及其控股子公司、合营公 司已拥有45条现代化造纸生产线，1条纸浆生产线，21条涂布生产线和7台超级压 光机，并拥有化工、制浆、能源、物流、原纸及纸制品等全产业链生产产能，产 业宽度和产业深度布局相对完善，年生产能力超90万吨。同时，公司也以纸基功 能材料研发制造为核心，积极推动制汽制 ...

仙鹤股份有限公司 接待机构投资者调研活动会议纪要 一、机构调研情况 调研时间：2020年11月2日至13日 调研地点：公司会议室（衢江区天湖南路69号） 调研形式：现场接待及电话会议 来访机构：海通证券、浙商证券、广发证券、博时基金、九泰基金、泰信基 金、顺安基金、长信基金、凯石基金、景林资产管理、平安资产管理、宏流投资、 源乘投资、齐熙投资、正奇投资、真龙资本、精富资产、Union Asset Management Group等 公司接待人员：董事会秘书 王昱哲 二、调研行程安排 到访的调研机构及其他投资者与公司领导进行了交流，并参观了公司产业创 新服务综合体和智能化特种纸生产线。 三、调研会议纪要 （一）公司概况介绍环节： 会议开始，由公司董事会秘书王昱哲先生向与会者介绍了公司目前的发展概 况。公司为国内大型高性能纸基功能材料研发和生产企业。在国内布局了包括浙 江衢江、河南内乡和浙江常山3 个造纸基地，目前公司及其控股子公司、合营公 司已拥有45条现代化造纸生产线，1条纸浆生产线，21条涂布生产线和7台超级压 光机，并拥有化工、制浆、能源、物流、原纸及纸制品等全产业链生产产能，产 业宽度和产业深度布局相对 ...

Financial Performance - Operating revenue for the first nine months was CNY 3,337,458,058.62, a 1.53% increase compared to the same period last year[11]. - Net profit attributable to shareholders rose by 84.45% year-on-year to CNY 494,485,766.11[11]. - Basic earnings per share increased by 79.55% to CNY 0.79[13]. - Total operating revenue for Q3 2020 reached ¥1,305,191,577.04, an increase of 10.19% compared to ¥1,184,329,841.80 in Q3 2019[49]. - Net profit for Q3 2020 was ¥212,833,254.97, a significant increase of 55.06% from ¥137,462,762.80 in Q3 2019[52]. - Total profit for Q3 2020 was ¥250,617,831.54, compared to ¥159,631,386.57 in Q3 2019, an increase of 56.94%[52]. - The company reported a significant increase in other income by 176.34% to ¥6,485,782.89 from ¥2,347,025.77, primarily due to social security subsidies related to the COVID-19 pandemic[25]. Assets and Liabilities - Total assets increased by 10.39% year-on-year to CNY 8,144,899,668.72[11]. - Non-current assets totaled ¥3,824,423,874.01, an increase from ¥3,508,609,020.57, reflecting a growth of about 9.0%[37]. - Current liabilities rose to ¥2,644,461,446.86, compared to ¥2,256,534,709.32, marking an increase of approximately 17.2%[37]. - Total liabilities decreased to ¥2,983,515,766.81 from ¥3,533,556,905.42, a reduction of about 15.6%[39]. - Owner's equity increased to ¥5,161,383,901.91, up from ¥3,844,766,208.68, indicating a growth of approximately 34.2%[39]. - Deferred income increased by 34.24% to ¥339,021,414.57 from ¥252,547,330.98, mainly due to increased government subsidies for project construction[25]. Cash Flow - Net cash flow from operating activities decreased by 179.16% year-on-year to -CNY 158,231,303.83[11]. - Cash flow from operating activities for the first three quarters of 2020 was negative at -¥158.23 million, compared to a positive cash flow of ¥199.88 million in the same period of 2019[69]. - Total cash inflow from investing activities was 769,759,850.62 RMB, while cash outflow was 1,576,531,735.72 RMB, resulting in a net cash flow of -806,771,885.10 RMB[73]. - Cash inflow from financing activities totaled 1,161,619,299.40 RMB, with cash outflow amounting to 1,428,121,968.04 RMB, leading to a net cash flow of -266,502,668.64 RMB[73]. Shareholder Information - The total number of shareholders at the end of the reporting period was 41,349[17]. - The largest shareholder, Zhejiang Xianhe Holding Group Co., Ltd., holds 76.49% of the shares[17]. Investment and Expenses - Investment income increased by 142.77% to ¥155,351,486.57 from ¥63,992,432.36, driven by higher returns from joint ventures and securities investments[25]. - Research and development expenses decreased to ¥24,190,252.17 in Q3 2020 from ¥31,813,566.08 in Q3 2019, a reduction of 23.93%[49]. - The company reported a decrease in financial expenses to ¥7,548,549.92 in Q3 2020 from ¥26,279,667.60 in Q3 2019, a decline of 71.25%[49]. Changes in Financial Reporting - The company executed the new revenue recognition standards starting January 1, 2020, impacting financial reporting[83]. - The company is not adjusting comparative data for the new revenue standards, ensuring consistency in financial reporting[94].

仙鹤股份有限公司 接待机构投资者调研活动会议纪要 一、机构调研情况 调研时间：2020年9月7日至25日 调研地点：公司会议室（衢江区天湖南路69号） 调研形式：现场接待 来访机构：中信证券、中金公司、中金证券、中投证券、凯辰投资、海雅控 股集团、海雅金控、金浦投资、宽潭资本等 公司接待人员：董事会秘书 王昱哲、财务总监 王敏岚、证券部主任 叶青 二、调研行程安排 到访的调研机构及其他投资者与公司领导进行现场交流，并参观了公司产业 创新服务综合体。 三、调研会议纪要 （一）公司概况介绍环节： 会议开始，由公司董事会秘书王昱哲先生向与会者介绍了公司目前的发展概 况。公司为国内最大的专业研发和生产高性能纸基功能材料的企业之一。公司及 其合营公司和控股子公司现有特种纸机生产线45条，涂布、超压线20多条，并拥 有化工、制浆、能源、物流、原纸及纸制品等全产业链生产产能，产业宽度和产 业深度布局相对完善，年生产能力近90万吨。同时，公司也以纸基功能材料研发 制造为核心，积极推动制汽制电、化工材料、工业水处理及固废处理、分布式光 伏发电、物流及消费终端产品等新材料、新能源以及上下游一体化等多元化产业 的发展。经过20余年 ...

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 2,032,266,481.58, a decrease of 3.36% compared to the same period last year[21]. - The net profit attributable to shareholders of the listed company increased by 116% year-on-year, reaching CNY 282,430,521.50[22]. - The net profit after deducting non-recurring gains and losses was CNY 240,521,775.37, an increase of 84.08% compared to the previous year[21]. - Basic earnings per share for the first half of 2020 were CNY 0.46, up 119.05% year-on-year[21]. - The company achieved a sales volume growth of 6.61% despite a decrease in average sales price due to product type adjustments[21]. - The company's cash flow from operating activities was negative at CNY -139,885,219.27, a decline of 152.33% compared to the same period last year[21]. - The weighted average return on net assets increased by 3.16 percentage points to 7.15%[21]. - The company reported a net cash flow from operating activities of -139.89 million yuan, a significant decrease compared to the previous year[81]. - Operating revenue decreased by 3.36% to 2.03 billion yuan, primarily due to a decline in average sales prices despite a 6.61% increase in sales volume[81]. Market Position and Share - The company has a market share of nearly 45% in the tobacco paper sector, with its products being used by most major domestic cigarette manufacturers[30]. - The company holds over 20% market share in the high-end decorative paper market, catering to the customized furniture and flooring industries[31]. - The company has a market share of approximately 25% in thermal paper, widely used in the food and beverage sector[31]. - The company is expanding its production capacity for glassine release paper to meet the growing market demand, currently holding over 20% market share in this segment[34]. - The company has over 90% market share in low basis weight publishing paper, primarily used for dictionaries and other frequently used books[36]. - The company’s digital transfer paper market share exceeds 20%, driven by increasing consumer demand for personalized and high-end products[36]. - The company holds a market share of approximately 45% in the tobacco paper sector, establishing a significant position in the industry[50]. - The market share for thermal paper is around 25%, supported by strong processing technology and capabilities[50]. - The company’s low basis weight printing paper, including Bible and dictionary paper, has a domestic market share of 90%[50]. - The company is one of the largest producers of thermal transfer paper in China, primarily used in textiles, ceramics, and building materials[50]. Production and Capacity - The company operates 43 modern paper production lines, 21 coating lines, and 7 super calendering machines, enhancing its market resilience and innovation capabilities[40]. - The company has established three paper production bases in China, focusing on a diversified and scalable development strategy[40]. - The company achieved a mechanism paper production of 277,800 tons, an increase of 15.49% year-on-year, and a sales volume of 242,600 tons, up 6.61% year-on-year[65]. - The company has an annual production capacity of nearly 900,000 tons for specialty paper and paper products, with over 60 varieties across nine major series[49]. Research and Development - The company invested 57.86 million yuan in R&D, representing a year-on-year increase of 67.08%, emphasizing the importance of continuous R&D investment for sustained competitiveness[54]. - The company has invested significantly in R&D for food and medical packaging papers, which have become crucial during the COVID-19 pandemic[35]. - The company applied for 60 patents during the reporting period, with 35 being invention patents, indicating a strong focus on innovation[72]. - Research and development expenses increased by 30%, totaling 300 million, focusing on innovative technologies[136]. Environmental and Social Responsibility - The company has received multiple environmental certifications and has invested in green energy and pollution control systems, reinforcing its commitment to sustainable development[56]. - The company has established five wastewater treatment plants with a total designed capacity of 48,500 m³/d to ensure compliance with environmental standards[194]. - The total emissions of COD and ammonia nitrogen are within the permitted limits, with no significant environmental pollution incidents reported during the period[196]. - The company has helped approximately 238 impoverished individuals achieve employment through various initiatives in the first half of 2020[174]. - The company invested over 120,000 RMB in a poverty alleviation project, helping 238 registered impoverished individuals[176]. - The company plans to donate 500,000 RMB to assist impoverished college students by the end of the year[180]. Financial Instruments and Investments - The company successfully issued convertible bonds raising 1.25 billion yuan, facilitating the implementation of a high-end paper-based new materials project with a total capacity of 220,000 tons[75]. - The company has issued a total of 1,250,000,000 CNY in convertible bonds, with 99,000 CNY converted during the reporting period[188]. - The cumulative number of shares converted from the convertible bonds is 7,452, representing 0.0012% of the total shares issued before conversion[189]. - The remaining unconverted amount of convertible bonds is 1,249,901,000 CNY, which accounts for 99.9988% of the total issued convertible bonds[189]. - The company maintains a stable operational situation with no repayment risk for the convertible bonds, as cash flow from operations will primarily fund future repayments[193]. Risks and Challenges - The company anticipates a significant impact on its operations due to the ongoing COVID-19 pandemic, which has led to a global economic downturn, with a projected 5.2% decline in global GDP for 2020[102]. - The company faces risks from fluctuations in raw material prices, particularly imported pulp, which could affect profitability despite efforts to adjust product pricing[104]. - Increased market competition is expected as some small to medium-sized producers may resume operations, and new production capacities from other companies will enter the market[107]. - The company is exposed to policy changes that could affect its operations, including environmental regulations and tax policies, which introduce uncertainty into future business activities[108]. - Currency exchange rate fluctuations, particularly the RMB/USD rate, could impact the company's procurement costs for imported raw materials[109]. - The company is currently implementing multiple projects, which may face delays due to regulatory approvals and supplier performance, introducing risks to project timelines[110]. Corporate Governance and Compliance - The company has not proposed any profit distribution or capital reserve increase for the half-year period, indicating a focus on retaining earnings[114]. - The company held its annual shareholders' meeting on April 23, 2020, with all procedures compliant with legal regulations, and no resolutions were rejected[113]. - The company has committed to not transferring or repurchasing shares held directly or indirectly for 36 months post-IPO[119]. - The company will ensure that any share reductions after the lock-up period will not exceed 1% of total shares within any consecutive 90-day period[119]. - The company will publicly disclose reasons for any failure to meet commitments in designated media[130]. - The company emphasizes strict adherence to the commitments disclosed in the IPO prospectus[130]. - The company appointed Zhonghui Certified Public Accountants as the auditor for the 2020 financial report, approved on April 2, 2020, and ratified by the shareholders' meeting on April 23, 2020[159]. - There were no significant lawsuits or arbitration matters during the reporting period, indicating a stable legal environment for the company[159]. - The company reported good integrity status during the reporting period, with no overdue large debts or unfulfilled commitments[159]. - There were no significant related party transactions reported for the year 2020, ensuring transparency in operations[162].

仙鹤股份有限公司 接待机构投资者调研活动会议纪要 一、机构调研情况 调研时间：2020年5月29日 调研地点：公司二楼会议室（衢江区天湖南路69号） 调研形式：现场接待 来访机构：惟像资本 赵科伟、铭涛资产管理 齐利民、恒天中岩投资管理 徐 枝杰、银河证券 徐莘杰、大湾控股 周行、中泰证券 余建星、永安期货 谢迪安、 招商证券 杨强 刘志平、申万宏源证券 柴程森、德汇集团 夏步刚、安信证券 吕 科佳 骆恺骐、海通证券 赵洋、锦炜基金 陈剑峰、必达控股集团 吴经纬、华泰 证券 周鑫、财信期货 吕珍珍、中银国际证券 杨志威、华福证券 宋腾飞、华安 证券 邹坤、明溪资产管理 褚嘉斌、御河投资管理 何建良、广发证券 张兆函、 国泰君安证券 戴俊彦、万润投资管理 吴东润、道杰投资 任尧泉、四邦实业 杨 政伟、万和证券 陈全、国金证券 徐臣等 公司接待人员：王敏岚、王昱哲、叶青等。 二、调研行程安排 2020年5月29日上午调研机构与公司领导进行现场交流。下午实地参观公司 智能化生产线车间现场。 三、调研会议纪要 （一）公司概况介绍环节： 会议开始，由公司董事会秘书王昱哲先生向与会者介绍了公司目前的发展概 况。公司自20 ...

证券代码：603733 证券简称：仙鹤股份 公告编号：2020-024 债券代码：113554 债券简称：仙鹤转债 仙鹤股份有限公司 关于参加浙江辖区上市公司 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。 重要内容提示： 1、会议内容：浙江辖区上市公司投资者网上集体接待日活动 2、召开时间：2020 年 5 月 15 日下午 15:00-17:00 3、召开地点：全景网（http://rs.p5w.net） 4、召开方式：网络平台在线交流 5、投资者可以在 2020 年 5 月 14 日下午 16:00 前将需要了解的情况和关注问题预先 发送至公司邮箱(zqb@xianhepaper.com)，公司将在本次活动上就投资者普遍关注的问题 进行回答。 一、说明会类型 为进一步加强与投资者特别是中小投资者的沟通交流，仙鹤股份有限公司（以下简称 "公司"）将于 2020 年 5 月 15 日参加由浙江证监局指导、浙江上市公司协会与深圳市全 景网络有限公司共同举办的"凝心聚力 共克时艰"浙江辖区上 ...

Financial Performance - Net profit attributable to shareholders of the listed company was ¥104,587,103.10, an increase of 193.16% year-on-year[18]. - Operating revenue for the period was ¥903,508,931.79, down 10.84% from the same period last year[18]. - Basic earnings per share were ¥0.17, representing an increase of 183.33% year-on-year[18]. - Total profit increased by 210.01% to ¥124,494,153.65 from ¥40,157,752.19, attributed to higher profit levels during the period[32]. - The company reported a comprehensive income total of CNY 102,931,904.28 for Q1 2020, compared to CNY 35,644,116.13 in Q1 2019[56]. - Net profit for Q1 2020 reached CNY 104,861,007.83, representing a significant increase of 94.67% compared to CNY 35,644,116.13 in Q1 2019[56]. - Net profit for Q1 2020 was approximately ¥71.80 million, representing a significant increase of 116.7% compared to ¥33.16 million in Q1 2019[61]. Assets and Liabilities - Total assets at the end of the reporting period were ¥7,253,122,537.19, a decrease of 1.70% compared to the end of the previous year[18]. - Total liabilities decreased from CNY 3,533,556,905.42 to CNY 3,305,424,424.23, a decrease of about 6.5%[45]. - Current liabilities decreased from CNY 2,256,534,709.32 to CNY 1,959,871,717.42, a reduction of approximately 13.2%[43]. - The company's equity attributable to shareholders increased from CNY 3,830,452,318.46 to CNY 3,933,110,318.01, an increase of approximately 2.7%[45]. - Total liabilities amounted to ¥3,533,556,905.42, with current liabilities at ¥2,256,534,709.32 and non-current liabilities at ¥1,277,022,196.10[76]. - Total equity reached ¥3,844,766,208.68, with equity attributable to shareholders of the parent company at ¥3,830,452,318.46[76]. Cash Flow - Net cash flow from operating activities was -¥53,225,178.75, a decrease of 291.71% compared to the previous year[18]. - Cash and cash equivalents decreased by 36.5% to ¥813,052,709.47 from ¥1,280,328,894.41, primarily due to the repayment of current loans[29]. - Cash flow from operating activities showed a net outflow of approximately ¥53.23 million, compared to a net inflow of ¥27.76 million in Q1 2019[66]. - The total cash outflow from operating activities increased to 604,338,220.98 RMB in Q1 2020, compared to 504,540,832.07 RMB in Q1 2019, representing a rise of 19.7%[68]. - The company reported a significant decrease in cash and cash equivalents net increase of -1,078,386,465.87 RMB in Q1 2020 compared to -12,039,834.59 RMB in Q1 2019[70]. Research and Development - Research and development expenses increased by 102.78% to ¥27,854,860.50 from ¥13,736,431.03, mainly due to an increase in R&D projects[29]. - Research and development expenses increased to CNY 27,854,860.50 in Q1 2020, compared to CNY 13,736,431.03 in Q1 2019, reflecting a growth of 102.67%[55]. - Research and development expenses rose to approximately ¥19.35 million, an increase of 78.5% from ¥10.85 million in Q1 2019[61]. Financial Expenses and Income - Financial expenses increased by 65.48% to ¥24,915,720.84 from ¥15,056,288.95, primarily due to accrued convertible bond interest and exchange losses[29]. - Investment income rose by 184.97% to ¥33,020,036.05 from ¥11,587,002.13, primarily due to increased earnings from the joint venture Xiawang Paper[32]. - The company reported a total of ¥13,283,834.94 in non-operating income and expenses[21]. - The company reported a significant increase in other income by 111.56% to ¥6,473,234.48 from ¥3,059,811.41, mainly due to increased government subsidies received[29]. Shareholder Information - The total number of shareholders at the end of the reporting period was 20,047[22]. - Zhejiang Xianhe Holdings Co., Ltd. held 88.24% of the shares, with 540,000,000 shares pledged[22]. Regulatory Changes - The company executed the new revenue recognition standards starting January 1, 2020, impacting financial reporting[78]. - The company adopted the new revenue recognition standards starting January 1, 2020, impacting financial reporting[84]. - The company has not made adjustments to comparative data for the new revenue standards[85].