Market Overview - The Shanghai Composite Index closed at 3814.20 points, below the five-day moving average, with a decline of 1.14% [1] - The total trading volume of A-shares reached 1,878.28 billion yuan [1] Stocks Performance - A total of 139 A-shares broke through the five-day moving average today [1] - Stocks with significant deviation rates include: - Hailianxun (300277) with a deviation rate of 14.15%, closing up 20.03% [1] - Shoukai Co. (600376) with a deviation rate of 7.01%, closing up 9.85% [1] - Zhongchen Technology (603275) with a deviation rate of 6.97%, closing up 9.99% [1] - Other notable stocks with smaller deviation rates include: - Yunda Co. (300409) with a deviation rate of 6.32%, closing up 10.92% [1] - Hanzhong Precision (002158) with a deviation rate of 6.30%, closing up 10.00% [1] Detailed Stock Data - The following table summarizes the performance of selected stocks that broke through the five-day moving average: | Stock Code | Stock Name | Daily Change (%) | Turnover Rate (%) | Five-Day MA (yuan) | Latest Price (yuan) | Deviation Rate (%) | | --- | --- | --- | --- | --- | --- | --- | | 300277 | Hailianxun | 20.03 | 24.96 | 13.54 | 15.46 | 14.15 | | 600376 | Shoukai Co. | 9.85 | 6.33 | 2.71 | 2.90 | 7.01 | | 603275 | Zhongchen Technology | 9.99 | 10.43 | 50.42 | 53.94 | 6.97 | | 002067 | Jingxing Paper | 10.00 | 15.98 | 4.34 | 4.62 | 6.55 | | 300409 | Yunda Co. | 10.92 | 20.47 | 22.07 | 23.47 | 6.32 | | 002158 | Hanzhong Precision | 10.00 | 3.58 | 25.04 | 26.62 | 6.30 | | 688108 | Sainuo Medical | 9.10 | 11.70 | 33.29 | 35.13 | 5.54 | | 603283 | Saiteng Co. | 7.32 | 9.18 | 41.65 | 43.85 | 5.27 | | 300655 | Jingrui Materials | 7.83 | 14.56 | 12.30 | 12.94 | 5.24 | | 300905 | Baolidai | 9.29 | 12.54 | 32.92 | 34.57 | 5.02 | | 603992 | Songlin Technology | 6.80 | 1.51 | 29.63 | 31.10 | 4.98 | | 688717 | Ailuo Energy | 9.04 | 5.60 | 68.52 | 71.80 | 4.78 | | 002549 | Kaimeteqi | 8.68 | 17.83 | 16.53 | 17.28 | 4.52 | | 603367 | Chenxin Pharmaceutical | 10.02 | 5.75 | 25.75 | 26.90 | 4.45 | | 301491 | Hansang Technology | 6.43 | 26.20 | 66.30 | 69.07 | 4.18 | | 300303 | Jufei Optoelectronics | 5.04 | 10.31 | 6.84 | 7.08 | 3.48 | | 601869 | Changfei Optical Fiber | 10.00 | 5.24 | 88.00 | 91.06 | 3.47 | | 600699 | Junsheng Electric | 4.33 | 6.13 | 21.26 | 21.95 | 3.26 | | 002531 | Tienswind Energy | 5.37 | 2.16 | 6.86 | 7.07 | 3.03 | | 301182 | Kaiwang Technology | 6.37 | 9.05 | 38.56 | 39.73 | 3.02 [2]

Group 1 - The top 20 stocks with significant capital inflow as of September 3 include: Yanshan Technology (2.424 billion), Unisplendour (1.400 billion), Sungrow Power (0.539 billion), and others [1] - Yanshan Technology experienced a price increase of 10.04%, with a capital inflow of 2.424 billion [2] - Unisplendour saw a price rise of 6.64% and attracted 1.400 billion in capital [2] Group 2 - Sungrow Power had a price increase of 6.98% with a capital inflow of 0.539 billion [2] - Jishi Media reported a price rise of 9.94% and received 0.466 billion in capital [2] - Heng Rui Medicine experienced a 4.14% increase in price with a capital inflow of 0.417 billion [2] Group 3 - The stock with the highest capital inflow, Yanshan Technology, is categorized under Internet Services [2] - Other notable sectors include Photovoltaic Equipment (Sungrow Power), Cultural Media (Jishi Media), and Chemical Manufacturing (Heng Rui Medicine) [2][3] - The banking sector, represented by Agricultural Bank, saw a slight decline of 0.28% with a capital inflow of 0.170 billion [3]

关于对外担保的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 一、担保情况概述 浙江景兴纸业股份有限公司（以下简称"公司"）于2025年4月28日召开八届董 事会第十五次会议及八届监事会第十三次会议，审议通过了《关于2025年度公司向 控股子公司提供及由子公司向母公司提供担保额度的议案》，同意在2025年度由公 司对子公司、并由子公司为母公司向银行融资提供担保额度，上述担保有效期自股 东大会批准之日起至下一年年度股东大会召开之日止。上述事项已经2025年5月27 日召开的2024年年度股东大会批准通过。具体内容详见公司于2025年4月29日披露于 《证券时报》及巨潮资讯网（http://www.cninfo.com.cn）上《关于2025年度公司向控 股子公司提供及由子公司向母公司提供担保额度的公告》（公告编号：临2025-024）。 二、担保进展情况 2025年8月29日，公司与中信银行股份有限公司嘉兴分行（以下简称"中信银行 嘉兴分行"）签订了编号为"2025信杭嘉银保字第ZB0097号"的《最高额保证合同》， 约定公司就中信银行嘉兴分行对全资子 ...

Group 1 - The company Zhejiang Jingxing Paper Industry Co., Ltd. plans to repurchase its shares using a budget of no less than 80 million yuan and no more than 150 million yuan within 12 months from the approval date of the plan [1] - The repurchase will be conducted through the Shenzhen Stock Exchange trading system at a price not exceeding 4.00 yuan per share, and the repurchased shares will be used for converting the company's convertible bonds [1] - As of August 31, 2025, the company has repurchased a total of 1,293,300 shares, accounting for 0.1010% of the total share capital, with a total transaction amount of 4,574,147 yuan [2] Group 2 - The highest transaction price during the repurchase was 3.60 yuan per share, while the lowest was 3.47 yuan per share, all within the established price limit [2] - The company will continue to implement the repurchase plan based on market conditions and will fulfill its information disclosure obligations as required [2]

Summary of Key Points Core Viewpoint - Jingxing Paper (002067.SZ) has announced a share buyback program, indicating a commitment to enhancing shareholder value through capital management strategies [1] Group 1: Share Buyback Details - As of August 31, 2025, the company has repurchased a total of 1.2933 million shares, which represents 0.1010% of the total share capital [1] - The highest transaction price during the buyback was 3.60 CNY per share, while the lowest was 3.47 CNY per share [1] - The total amount spent on the buyback reached approximately 4.574147 million CNY, excluding transaction fees [1]

一、回购股份的具体情况 证券代码：002067 证券简称：景兴纸业 公告编号：临 2025-055 浙江景兴纸业股份有限公司 关于回购公司股份的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 浙江景兴纸业股份有限公司（以下简称"公司"）于2024年10月30日召开八届 董事会第十次会议及八届监事会第九次会议，于2024年11月19日召开2024年第二次 临时股东大会，审议通过了《关于回购公司股份方案的议案》，同意公司自股东大 会审议通过之日起12个月内使用不低于人民币8,000万元（含），不超过人民币 15,000万元（含）自有资金或自筹资金，通过深圳证券交易所交易系统以集中竞价 交易方式以不超过4.00元/股（含）的价格回购部分公司股份，回购的股份将用于 转换公司发行的可转换为股票的公司债券。具体内容详见公司于2024年10月31日披 露于《证券时报》及巨潮资讯网（http://www.cninfo.com.cn）上《关于回购公司股 份方案的公告》（公告编号：临2024-079）。 根据《上市公司股份回购规则》《深圳证券交易所上市公司自律监管指引第 ...

Group 1 - The company, Jingxing Paper Industry, announced a share buyback program, having repurchased approximately 1.29 million shares, which accounts for 0.101% of its total share capital, with a total transaction amount of about 4.57 million yuan [1] - The highest transaction price during the buyback was 3.6 yuan per share, while the lowest was 3.47 yuan per share [1] - As of the report date, Jingxing Paper Industry's market capitalization stands at 5.4 billion yuan [1] Group 2 - For the first half of 2025, the company's revenue composition is entirely from the paper manufacturing segment, with a 100% contribution from this sector [1]

Core Viewpoint - Jingxing Paper (002067) reported a mixed performance in its 2025 mid-year financial results, with a slight decline in total revenue but an increase in net profit, indicating improved profitability metrics despite overall revenue challenges [1]. Financial Performance - Total revenue for the first half of 2025 was 2.629 billion yuan, a decrease of 1.69% year-on-year [1]. - Net profit attributable to shareholders reached 55.0338 million yuan, reflecting a year-on-year increase of 15.37% [1]. - In Q2 2025, total revenue was 1.44 billion yuan, up 2.18% year-on-year, while net profit for the quarter surged by 200.6% to 78.4562 million yuan [1]. - Gross margin improved to 9.15%, a year-on-year increase of 20.41%, and net margin rose to 2.18%, up 24.96% year-on-year [1]. - Total operating expenses (selling, administrative, and financial) amounted to 134 million yuan, accounting for 5.11% of revenue, which is an increase of 11.92% year-on-year [1]. Key Financial Ratios - The company reported a return on invested capital (ROIC) of 1.75% for the previous year, indicating weak capital returns [4]. - The historical median ROIC over the past decade was 5.47%, with the lowest recorded ROIC of 1.06% in 2023 [4]. - The company's cash flow situation is concerning, with cash and cash equivalents to current liabilities ratio at 78.18% [4]. - The interest-bearing debt ratio reached 25.18%, highlighting potential debt concerns [4]. - Accounts receivable to profit ratio stood at 635.72%, suggesting challenges in receivables management [4]. Shareholder Information - The largest fund holding Jingxing Paper is Guolian Xin Value Mixed A, with a holding of 15,400 shares and a current fund size of 0.12 billion yuan [5].

据证券之星公开数据整理，近期景兴纸业（002067）发布2025年中报。截至本报告期末，公司营业总收 入26.29亿元，同比下降1.69%，归母净利润5503.38万元，同比上升15.37%。按单季度数据看，第二季 度营业总收入14.4亿元，同比上升2.18%，第二季度归母净利润7845.62万元，同比上升200.6%。本报告 期景兴纸业盈利能力上升，毛利率同比增幅20.41%，净利率同比增幅24.96%。 本次财报公布的各项数据指标表现一般。其中，毛利率9.15%，同比增20.41%，净利率2.18%，同比增 24.96%，销售费用、管理费用、财务费用总计1.34亿元，三费占营收比5.11%，同比增11.92%，每股净 资产4.62元，同比增0.46%，每股经营性现金流-0.39元，同比减584.17%，每股收益0.04元 | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 26.75 Z | 26.29亿 | -1.69% | | 归母净利润(元) | 4770.39万 | 5503.38万 | 15.37% | ...

Core Insights - Jingxing Paper (002067.SZ) released its semi-annual report for 2025 on August 27, 2025, indicating a total of 2 institutional investors holding shares, with a combined holding of 4.7391 million shares, representing 0.38% of the total share capital [1] - The institutional holding ratio decreased by 0.13 percentage points compared to the previous quarter [1] - Foreign investment sentiment showed an increase with one foreign fund, BARCLAYS BANK PLC, increasing its holdings, while UBS AG was not disclosed in the current period [1]