重要内容提示： 证券代码：605500 证券简称：森林包装 公告编号：2025-064 森林包装集团股份有限公司 关于使用部分闲置募集资金进行现金管理到期收回并继续 进行现金管理进展的公告 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。 ● 现金管理到期收回情况：森林包装集团股份有限公司（以下简称"公司"） 的全资子公司台州森林造纸有限公司(以下简称"森林造纸")，2025 年 11 月 3 日到期收回兴业银行股份有限公司台州温岭支行（以下简称"兴业银行"）募集 资金现金管理产品金额 3,000.00 万元及收益。 ● 继续进行现金管理进展情况:森林造纸继续以闲置募集资金投资于兴业 银行，结构性存款产品人民币 2,000.00 万元。 ● 投资决策履行的审议程序：森林包装集团股份有限公司（以下简称"公司" 或"森林包装"）于 2025 年 9 月 8 日召开第三届董事会第十六次会议及第三届监 事会第十六次会议，分别审议通过了《关于使用部分闲置募集资金进行现金管理 的议案》，保荐机构光大证券股份有限公司（以下简称"保荐机构"或" ...

● 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） ● 会议召开方式：上证路演中心网络互动 ● 会议召开时间：2025 年 11 月 20 日(星期四) 上午 9:00-10:00 关于召开 2025 年第三季度业绩说明会的公告 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。 重要内容提示： 证券代码：605500 证券简称：森林包装 公告编号：2025-063 森林包装集团股份有限公司 ● 投资者可于 2025 年 11 月 13 日(星期四) 至 11 月 19 日(星期三)16:00 前 登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 forestpackaging@126.com 进行提问。公司将在说明会上对投资者普遍关注的问题 进行回答。 森林包装集团股份有限公司（以下简称"公司"）已于 2025 年 10 月 28 日发 布公司 2025 年第三季度报告，为便于广大投资者更全面深入地了解公司 ...

关于对外担保的进展公告 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。 重要内容提示： 被担保人名称： 1、浙江森林纸业有限公司（以下简称"森林纸业"），系森林包装集团股 份有限公司（以下简称"公司"）的全资子公司。 2、浙江森林联合纸业有限公司(以下简称"联合纸业")，系公司的控股子 公司。 本次担保金额及已实际为其提供的担保余额： 证券代码：605500 证券简称：森林包装 公告编号：2025-062 森林包装集团股份有限公司 1、2025 年 10 月 1 日至 2025 年 10 月 31 日，公司及子公司为森林纸业提供 担保金额 1,100.38 万元。截至 2025 年 10 月 31 日，公司及子公司为森林纸业提 供担保余额 2,383.65 万元。 2、2025 年 10 月 1 日至 2025 年 10 月 31 日，公司及子公司为联合纸业实际 提供担保金额 1,336.60 万元。截至 2025 年 10 月 31 日，公司及子公司为联合纸 业提供担保余额 74,258.15 万元。 本次担保是否有反担保： ...

Core Viewpoint - The report highlights the growth and export potential of China's paper and paper products industry, with a focus on recent statistics and future projections [1] Industry Summary - As of September 2025, the export value of China's paper and paper products industry reached 7 billion yuan, reflecting a year-on-year increase of 0.1% [1] - Cumulatively, from January to September 2025, the total export value amounted to 59.49 billion yuan, showing a year-on-year growth of 2.2% [1] - The report provides a comprehensive analysis of the development patterns and market operation potential of the paper industry from 2026 to 2032 [1] Company Summary - The report mentions several listed companies in the paper industry, including Chenming Paper (000488), Kane Co. (002012), Jingxing Paper (002067), and others, indicating a broad spectrum of players in the market [1] - The analysis is supported by data from the National Bureau of Statistics and insights from Zhiyan Consulting, a leading industry consulting firm in China [1]

Core Viewpoint - Forest Packaging is a significant supplier of packaging products in China, with a focus on the production of raw paper, corrugated cardboard, and corrugated boxes, showcasing a full industry chain production advantage [1] Group 1: Business Performance - In Q3 2025, Forest Packaging reported revenue of 1.981 billion yuan, ranking 8th among 10 companies in the industry, significantly lower than the top company, Sun Paper, which had revenue of 28.936 billion yuan [2] - The net profit for the same period was -7.9587 million yuan, placing the company 7th in the industry, while the leading company, Sun Paper, achieved a net profit of 2.506 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, Forest Packaging's debt-to-asset ratio was 37.30%, an increase from 24.36% year-on-year, which is lower than the industry average of 56.77%, indicating good solvency [3] - The gross profit margin for Q3 2025 was 5.07%, down from 13.76% year-on-year, but still higher than the industry average of 0.28% [3] Group 3: Executive Compensation - The chairman, Lin Qijun, received a salary of 235,600 yuan in 2024, an increase of 31,700 yuan from 203,900 yuan in 2023 [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 31.51% to 20,600, while the average number of circulating A-shares held per account increased by 46.00% [5]

Group 1 - The core point of the article is that Forest Packaging reported its Q3 2025 financial results, showing significant revenue growth but a net loss [1] - The company achieved a revenue of 820,822,724.12 yuan in Q3 2025, representing a year-on-year increase of 42.45% [1] - The net profit attributable to shareholders of the listed company was -915,736.74 yuan for the same period [1]

Core Insights - The company reported a revenue of 1.981 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 17.03% [1] - The net profit attributable to shareholders decreased to 30.22 million yuan, a decline of 77.68% year-on-year [1] - The non-recurring net profit was 25.28 million yuan, down 80.16% compared to the previous year [1] - The basic earnings per share stood at 0.07 yuan [1]

Group 1 - The core viewpoint of the news is that Forest Packaging reported its third-quarter performance, showing a revenue increase but a significant decline in net profit [1] Group 2 - For the first three quarters of 2025, the company's revenue was approximately 1.981 billion yuan, representing a year-on-year increase of 17.03% [1] - The net profit attributable to shareholders was about 30.22 million yuan, reflecting a year-on-year decrease of 77.68% [1] - The basic earnings per share were 0.07 yuan, which is a year-on-year decrease of 78.79% [1] Group 3 - As of the report, Forest Packaging's market capitalization was 3.8 billion yuan [2]

Market Overview - The paper sector increased by 0.04% on October 27, with Qingshan Paper leading the gains [1] - The Shanghai Composite Index closed at 3996.94, up 1.18%, while the Shenzhen Component Index closed at 13489.4, up 1.51% [1] Individual Stock Performance - Qingshan Paper (600103) closed at 3.71, up 2.20%, with a trading volume of 2.19 million shares and a turnover of 810 million yuan [1] - Hengda New Material (301469) closed at 29.26, up 2.13%, with a trading volume of 14,300 shares and a turnover of 41.68 million yuan [1] - Songwu Resources (603863) closed at 20.51, up 1.28%, with a trading volume of 100,400 shares and a turnover of 205 million yuan [1] - Other notable stocks include Huatai Co. (600308) at 3.73 (+0.54%) and Xianhe Co. (603733) at 22.45 (+0.54%) [1] Capital Flow Analysis - The paper sector experienced a net outflow of 49.9 million yuan from institutional investors, while retail investors saw a net outflow of 56.9 million yuan [2] - Conversely, speculative funds recorded a net inflow of 106 million yuan [2] Detailed Capital Flow for Selected Stocks - Sun Paper (002078) had a net outflow of 23.42 million yuan from institutional investors, with a net inflow of 13.19 million yuan from speculative funds [3] - Yueyang Forest Paper (600963) saw a net inflow of 22.82 million yuan from institutional investors, but a net outflow of 34.79 million yuan from retail investors [3] - Qingshan Paper (600103) had a net inflow of 16.87 million yuan from institutional investors, while retail investors experienced a net outflow of 69.10 million yuan [3]

Financial Performance - The company's operating revenue for the third quarter reached ¥820,822,724.12, an increase of 42.45% compared to the same period last year[4] - The total profit for the third quarter was a loss of ¥34,050,607.72, representing a decrease of 161.88% year-on-year[4] - The net profit attributable to shareholders for the third quarter was a loss of ¥1,168,239.21, down 102.50% compared to the previous year[4] - Year-to-date revenue until the reporting period was ¥1,981,009,749.48, reflecting a growth of 17.03% year-on-year[4] - Total operating revenue for the first three quarters of 2025 reached CNY 1,981,009,749.48, an increase of 17.1% compared to CNY 1,692,762,038.21 in the same period of 2024[19] - Total operating costs increased to CNY 2,061,176,312.01, up 28.0% from CNY 1,611,127,035.69 year-over-year[19] - Net profit for the first three quarters of 2025 was a loss of CNY 7,958,749.11, compared to a profit of CNY 135,017,399.34 in the same period of 2024[20] - Operating profit for the first three quarters of 2025 was a loss of CNY 44,499,852.33, down from a profit of CNY 131,434,587.02 in the previous year[20] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥4,340,589,285.14, an increase of 8.27% from the end of the previous year[5] - Total current assets as of September 30, 2025, amount to ¥1,328,625,698.59, a decrease from ¥1,381,885,354.51 as of December 31, 2024[15] - Total liabilities increased to ¥1,619,105,951.61 from ¥1,206,483,046.30 year-over-year[16] - Total assets as of September 30, 2025, are ¥4,340,589,285.14, up from ¥4,009,085,128.94 as of December 31, 2024[15] - Non-current assets increased to ¥3,011,963,586.55 from ¥2,627,199,774.43 year-over-year[15] - The company has a total equity of ¥2,721,483,333.53 as of September 30, 2025[16] - The company's total equity decreased to CNY 2,721,483,333.53 from CNY 2,802,602,082.64 year-over-year[18] Cash Flow - The cash flow from operating activities for the year-to-date was a negative ¥30,520,125.67, indicating a decline of 261.19%[5] - Cash flow from operating activities was CNY 2,153,502,445.41, an increase from CNY 1,716,339,812.48 in the first three quarters of 2024[23] - Operating cash inflow totaled $2,213,943,771.41, an increase from $1,786,247,160.79 in the previous period, reflecting a growth of approximately 24%[24] - Operating cash outflow amounted to $2,244,463,897.08, compared to $1,767,312,626.05, resulting in a net cash flow from operating activities of -$30,520,125.67, down from $18,934,534.74[24] - Investment cash inflow was $757,100,681.31, significantly higher than $383,884,395.32, indicating a growth of about 97%[24] - Investment cash outflow reached $1,166,623,895.72, up from $993,669,794.38, leading to a net cash flow from investing activities of -$409,523,214.41, an improvement from -$609,785,399.06[24] - Financing cash inflow totaled $441,575,947.41, compared to $361,887,603.91, marking an increase of approximately 22%[25] - Financing cash outflow was $97,554,765.21, up from $70,631,269.14, resulting in a net cash flow from financing activities of $344,021,182.20, compared to $291,256,334.77[25] - The net increase in cash and cash equivalents was -$97,681,481.66, a decrease from -$303,247,251.60 in the previous period[25] - The ending balance of cash and cash equivalents was $141,402,491.01, down from $191,847,489.49[25] Shareholder Information - Total number of common shareholders at the end of the reporting period is 20,600[12] - The top 10 shareholders hold a total of 22.34% (92,578,722 shares) by Lin Qijun, followed by Lin Qiqun with 19.15% (79,360,891 shares)[12] Other Information - The company reported non-recurring gains and losses totaling ¥252,502.47 for the third quarter[7] - The increase in operating revenue was attributed to the production capacity coming online from the "60,000 tons digital inkjet paper industry upgrade project"[10] - The basic and diluted earnings per share for the third quarter were both ¥0.00, a decrease of 100% compared to the same period last year[5] - Basic and diluted earnings per share for the first three quarters of 2025 were CNY 0.07, down from CNY 0.33 in the same period of 2024[21] - Other comprehensive income after tax for the first three quarters of 2025 was a loss of CNY 670,293.89, compared to a loss of CNY 37,353.78 in the previous year[21] - Research and development expenses for the first three quarters of 2025 were CNY 59,762,516.04, slightly up from CNY 58,695,646.25 in the same period of 2024[20] - The company plans to implement new accounting standards starting in 2025, which may affect the financial statements[26]