Financial Performance - The company's operating revenue for the first half of 2021 was ¥2,837,667,034.16, representing a 32.76% increase compared to ¥2,137,370,572.02 in the same period last year[19]. - The net profit attributable to shareholders of the listed company reached ¥264,860,110.17, a significant increase of 137.96% from ¥111,303,835.47 in the previous year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥263,424,708.62, up 259.44% from ¥73,288,381.64 year-on-year[19]. - The basic earnings per share increased to ¥0.23, reflecting a growth of 130.00% compared to ¥0.10 in the same period last year[19]. - The total assets at the end of the reporting period were ¥7,459,055,518.06, an increase of 2.29% from ¥7,291,734,218.26 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company rose to ¥5,191,383,265.54, marking a 9.02% increase from ¥4,761,717,345.78 at the end of the previous year[19]. - The net cash flow from operating activities was ¥141,793,390.46, down 52.64% from ¥299,363,365.42 in the same period last year[19]. - The weighted average return on net assets was 5.34%, an increase of 2.81% compared to 2.53% in the previous year[19]. - The company achieved total revenue of ¥2,837,667,034.16, a year-on-year increase of 32.76%[29]. - Operating costs amounted to ¥2,342,981,636.11, reflecting a year-on-year increase of 21.73%[29]. - The comprehensive gross profit margin improved to 17.43%, up 7.48% from the previous year[29]. - Operating profit reached ¥319,384,752.22, a significant increase of 163.50% compared to the same period last year[29]. Investment and Development - The company’s R&D investment decreased by 4.88% to ¥96,192,420.91[35]. - The company invested ¥31,302,600.00 during the reporting period, a significant increase of 213.03% compared to the previous year[50]. - The company is developing a new high-quality antibacterial paper product, which is expected to enhance its market position[58]. - The company plans to expand its production capacity with a new project in Malaysia, targeting an annual output of 800,000 tons of waste paper pulp[58]. - The cumulative actual investment in the Malaysian project reached 528.55 million yuan, with a funding plan of 35% from self-raised capital[58]. - The company has initiated a strategic partnership with a leading technology firm to innovate in sustainable packaging solutions[118]. - New product development includes the launch of eco-friendly paper products, projected to contribute an additional 5,000 million in revenue by Q4 2021[118]. - Research and development initiatives are being prioritized to innovate and introduce advanced technologies in paper manufacturing[122]. Market and Competitive Position - The company is located in the economically developed Yangtze River Delta region, enhancing its market reach and demand for its products[30]. - The company has established partnerships with universities to enhance its technological capabilities and innovation[32]. - The company is focusing on expanding its market presence, particularly in the packaging materials sector, to capture a larger share of the market[122]. - The company plans to expand its market presence by entering two new regions by the end of 2021, aiming for a 25% increase in market share[118]. - A merger with a regional competitor is under consideration, which could potentially increase the company's production capacity by 30%[118]. - The company is actively developing an 800,000-ton waste paper pulp board project in Malaysia, which is expected to enhance its market competitiveness and risk resilience[67]. Environmental and Sustainability Efforts - The company is recognized for its environmental advantages, with a lower average wastewater discharge per ton of paper compared to industry standards[32]. - The company has established two wastewater treatment facilities, ensuring stable operation across three factory zones[78]. - The company is committed to sustainable development and environmental protection, ensuring compliance with local regulations and standards[82]. - The company has implemented optimal raw material inventory management to mitigate the impact of raw material price volatility, particularly for waste paper[65]. - The company is focusing on sustainability initiatives, aiming to reduce waste by 25% in the next fiscal year[119]. Financial Management and Guarantees - The total amount of external guarantees approved during the reporting period was 30,000, with an actual occurrence of 42,123.88[120]. - The actual external guarantees at the end of the reporting period amounted to 28,263.88, with a total guarantee limit of 30,000[120]. - The company provided guarantees for subsidiaries, with a total guarantee limit of 150,000 and actual occurrences ranging from 2,000 to 4,200[120]. - The company has maintained a consistent approach to external guarantees, ensuring compliance and risk management[120]. - The overall financial strategy includes a focus on maintaining liquidity while supporting growth initiatives through guarantees[120]. Shareholder and Equity Information - The total number of shares increased from 1,111,201,000 to 1,174,417,138, representing a growth of approximately 5.67%[133]. - The largest shareholder, Zhu Zailong, holds 178,200,000 shares, representing 15.17% of the total shares[137]. - The company has not reported any share repurchase progress during the reporting period[136]. - The total registered capital of the company is 1,174,417,138.00 yuan, with a total of 1,174,417,138 shares issued[198]. - The company has included 10 subsidiaries in its consolidated financial statements, enhancing its operational scope and market presence[199]. Risks and Challenges - The company faces risks related to macroeconomic fluctuations, which could adversely affect its operations if the economic environment deteriorates[65]. - The management indicated a cautious outlook for the second half of 2021 due to market volatility and raw material price fluctuations[189]. - The company has experienced delays in project construction due to COVID-19 restrictions in Malaysia, which may affect the timeline of the waste paper pulp board project[67].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥2,837,667,034.16, representing a 32.76% increase compared to ¥2,137,370,572.02 in the same period last year[19]. - The net profit attributable to shareholders of the listed company reached ¥264,860,110.17, a significant increase of 137.96% from ¥111,303,835.47 in the previous year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥263,424,708.62, up 259.44% from ¥73,288,381.64 year-on-year[19]. - The basic earnings per share increased to ¥0.23, reflecting a growth of 130.00% compared to ¥0.10 in the same period last year[19]. - The total assets at the end of the reporting period were ¥7,459,055,518.06, a 2.29% increase from ¥7,291,734,218.26 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company increased by 9.02% to ¥5,191,383,265.54 from ¥4,761,717,345.78 at the end of the previous year[19]. - The net cash flow from operating activities was ¥141,793,390.46, down 52.64% from ¥299,363,365.42 in the same period last year[19]. - The weighted average return on equity was 5.34%, an increase of 2.81% compared to 2.53% in the previous year[19]. - Operating profit reached ¥319,384,752.22, a significant increase of 163.50% compared to the same period last year[29]. - The company achieved total revenue of ¥2,837,667,034.16, a year-on-year increase of 32.76%[29]. Investment and R&D - The company’s R&D investment decreased by 4.88% to ¥96,192,420.91[35]. - Research and development expenses for the first half of 2021 were CNY 96,192,420.91, slightly down from CNY 101,122,326.17 in the previous year[170]. - Research and development expenses increased by 10% year-on-year, focusing on new product development and technological innovation[189]. - The company is actively pursuing new product development, including high-quality antibacterial paper products[58]. - The company has established partnerships with universities to enhance its technological capabilities and innovation[32]. Market and Sales - Revenue from raw paper amounted to ¥2,404,063,556.29, accounting for 84.72% of total revenue, with a year-on-year growth of 36.64%[37]. - Revenue from the Zhejiang region was ¥1,459,695,736.73, which is 51.44% of total revenue, showing a growth of 34.63% year-on-year[39]. - User data indicated an increase in customer base by 20%, reaching a total of 1,500,000 active users[118]. - The company plans to expand its market presence by entering three new provinces by the end of 2021[118]. - The company is planning to expand its market presence in Southeast Asia, targeting a 20% increase in sales in that region by the end of 2022[119]. Environmental Sustainability - The company is recognized for its environmental advantages, with average wastewater discharge per ton of paper significantly below industry standards[32]. - Zhejiang Jingxing Paper Industry Co., Ltd. reported a total COD emissions of 128.3781 tons per year, with a discharge concentration of 50 mg/l, adhering to the third-level discharge standard[77]. - The company processed 41.08 tons of SS emissions annually, with a discharge concentration of 16 mg/l, also meeting the third-level discharge standard[77]. - The company has established two wastewater treatment facilities, ensuring stable operation across three factory zones[78]. - The company is committed to sustainable development and environmental protection, ensuring compliance with pollution discharge standards[82]. Financial Position and Liabilities - The total liabilities decreased to ¥2,096,325,779.14 from ¥2,375,746,992.16[165]. - The asset-liability ratio decreased by 4.48% year-on-year, standing at 28.10%, indicating a stronger equity position[154]. - The company reported a financial expense of CNY 17.95 million in the first half of 2021, significantly higher than CNY 4.71 million in the same period of 2020, primarily due to increased interest expenses[175]. - The company has provided guarantees totaling CNY 10 million, with specific details on the guarantee types and periods pending[116][117]. - The total approved guarantee amount for subsidiaries during the reporting period was CNY 211 million, with actual guarantees amounting to CNY 113.61 million[123]. Future Outlook and Strategy - The company plans to continue expanding its market presence and invest in new product development to drive future growth[172]. - The company has outlined a performance guidance for the next quarter, expecting a revenue growth of 12%[118]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product offerings[122]. - The company is focusing on expanding its production capacity with a new project in Malaysia, targeting an annual output of 800,000 tons of waste paper pulp[58]. - The company aims to enhance its market presence through strategic partnerships and potential acquisitions in the next 12 months[189]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 78,648[137]. - Zhu Zailong held 178,200,000 shares, representing 15.17% of the total shares, with no change during the reporting period[137]. - The shareholding of Citic Lyon Asset Management Co., Ltd. increased by 4,873,520 shares, totaling 6,917,620 shares, representing 0.59%[137]. - The number of unrestricted shares increased from 973,451,000 (87.60%) to 1,036,792,138 (88.28%), an increase of 63,341,138 shares[133]. - The company has not engaged in any repurchase transactions among the top ten shareholders during the reporting period[138].

Financial Performance - The company's revenue for Q1 2021 was CNY 1,303,670,898.29, representing a 50.90% increase compared to CNY 863,934,840.71 in the same period last year[8] - Net profit attributable to shareholders was CNY 116,388,623.13, a significant increase of 168.32% from CNY 43,376,001.33 year-on-year[8] - The net profit after deducting non-recurring gains and losses reached CNY 114,166,854.53, marking a 378.95% increase compared to CNY 23,837,025.99 in the previous year[8] - The basic earnings per share increased to CNY 0.10, up 150.00% from CNY 0.04 in the same quarter last year[8] - The diluted earnings per share rose to CNY 0.09, reflecting a 125.00% increase from CNY 0.04 year-on-year[8] - Total revenue increased by 50.90% year-on-year, while operating costs rose by 41.94%, primarily due to increased product sales[16] - The total profit for the period was CNY 141,967,085.69, significantly higher than CNY 45,885,918.01 in Q1 2020, marking a growth of 209.5%[46] - The total profit margin improved, with a profit margin of approximately 15.0% in Q1 2021 compared to 7.4% in Q1 2020[46] Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 7,379,402,853.68, a 1.20% increase from CNY 7,291,734,218.26 at the end of the previous year[8] - The net assets attributable to shareholders increased to CNY 5,020,065,596.22, which is a 5.43% rise from CNY 4,761,717,345.78 at the end of the last year[8] - The company's total assets as of March 31, 2021, amounted to CNY 6,035,209,501.39, slightly up from CNY 5,985,717,015.07 at the end of 2020[41] - The total liabilities decreased to CNY 1,510,589,058.03 in Q1 2021 from CNY 1,705,433,048.04 in the previous period[42] Cash Flow - The net cash flow from operating activities was CNY -43,757,216.28, an improvement of 29.65% compared to CNY -62,195,655.32 in the same period last year[8] - The cash flow from operating activities was CNY 1,228,216,437.43, compared to CNY 944,002,427.60 in the previous period, showing a significant increase[53] - Operating cash inflow totaled CNY 1,247,409,694.64, an increase from CNY 987,490,851.47 in the previous period[54] - Net cash flow from operating activities was negative CNY 43,757,216.28, improving from negative CNY 62,195,655.32 year-over-year[54] - Net cash flow from investment activities was negative CNY 69,301,276.66, worsening from negative CNY 24,092,584.94 year-over-year[54] - Net cash flow from financing activities was negative CNY 46,097,425.08, compared to a positive CNY 132,019,975.05 in the prior year[55] Shareholder Information - The total number of shareholders at the end of the reporting period was 81,370[12] - The company is committed to fulfilling its promises to minority shareholders, ensuring transparency and accountability[22] - There were no share buybacks or reductions in shareholding during the reporting period[21] Investments and Projects - The company raised a total of CNY 1.28 billion through the issuance of convertible bonds, with a net amount of CNY 1.262 billion after deducting issuance costs[26] - The company has invested CNY 67.42 million in the first phase of its 1.4 million tons project in Malaysia, with a cumulative investment of CNY 498.93 million as of the end of the reporting period[26] - The company completed the transfer of 100% equity in Xiangyu Pharmaceutical, receiving a total of 34.64 million yuan[17] Government Subsidies and Tax Incentives - The company received a total of government subsidies amounting to approximately 10.64 million yuan during the reporting period[19] - The company received a tax refund of CNY 3,310,856.87 related to labor value-added tax incentives[21] - A total of CNY 1,477,459.24 was received from resource comprehensive utilization product tax refunds during the quarter[21] - The company reported a subsidy of CNY 806,400.00 aimed at promoting employment for disabled individuals[21] - The company is actively pursuing various tax incentives and subsidies to enhance its financial performance[21] Research and Development - Research and development expenses for Q1 2021 were CNY 50,737,870.84, slightly higher than CNY 49,153,971.96 in Q1 2020[45] - Research and development expenses increased to CNY 32,109,449.65, up 29.1% from CNY 24,857,710.88 in the previous year[49] Other Financial Information - The company's cash and cash equivalents decreased to CNY 1.415 billion from CNY 1.576 billion at the end of 2020[36] - The company's equity attributable to shareholders rose to CNY 5,020,065,596.22 from CNY 4,761,717,345.78 in the previous period[39] - The company reported a decrease in other comprehensive income, with a loss of CNY 30,662,344.98 in Q1 2021 compared to a loss of CNY 17,359,703.17 in the previous period[39] - The company has not engaged in any securities or derivative investments during the reporting period[24][25] - There were no instances of non-operating fund occupation by controlling shareholders or related parties during the reporting period[29] - The company did not undergo an audit for the first quarter report[60]

Financial Performance - The company's operating revenue for 2020 was ¥4,874,550,663.87, a decrease of 7.17% compared to ¥5,251,104,950.02 in 2019[18] - The net profit attributable to shareholders for 2020 was ¥311,949,833.53, representing a significant increase of 65.34% from ¥188,668,135.80 in 2019[18] - Basic earnings per share rose to ¥0.28 in 2020, an increase of 64.71% compared to ¥0.17 in 2019[18] - The company's net profit attributable to shareholders increased by 65.34% to CNY 311,949,833.53, despite a decline in sales volume[40] - The company’s comprehensive gross margin improved to 12.78%, up by 1.81% year-on-year[40] - The company’s R&D expenditure was CNY 171,374,152.71, accounting for 3.52% of operating revenue[40] - The company’s cash flow from operating activities decreased by 51.05% to CNY 617,225,360.23[40] - The company reported a total revenue of ¥4.87 billion, with the paper industry being the sole contributor[55] - The company’s revenue for the paper industry reached ¥4.87 billion, a decrease of 7.17% compared to the previous year, with a gross margin of 12.78%[57] Assets and Liabilities - Total assets at the end of 2020 were ¥7,291,734,218.26, reflecting a growth of 28.83% from ¥5,660,155,867.37 at the end of 2019[18] - The net assets attributable to shareholders increased by 9.01% to ¥4,761,717,345.78 at the end of 2020, compared to ¥4,368,228,069.05 at the end of 2019[19] - The company reported a significant decrease in investment income, which accounted for 9.82% of total profit, primarily due to equity disposals[72] - The company raised a total of RMB 1.28 billion through the issuance of convertible bonds, with a net amount of RMB 1.2626061 billion after deducting underwriting fees[95] Cash Flow and Investments - The net cash flow from operating activities decreased by 51.05% to ¥617,225,360.23[40] - Investment cash inflow dropped by 44.77% to ¥564.29 million, primarily due to a reduction in the redemption of financial products[70] - Financing cash inflow increased by 66.16% to ¥2.08 billion, mainly due to funds raised from issuing convertible bonds[70] - The net increase in cash and cash equivalents surged by 860.56% to ¥1.08 billion, attributed to the aforementioned factors[70] - The company has invested a total of RMB 85 million in the Jinpu M&A Fund, with completed investments in various companies across different sectors[49] Market and Sales Performance - In Q1 2020, the company's operating revenue was approximately CNY 863.93 million, increasing to CNY 1.40 billion in Q4 2020, representing a growth of 61.5% over the year[22] - The sales volume of life paper products increased by 30.10% to 108.06 million boxes, driven by adjustments in product specifications[58] - Revenue from the Zhejiang region was approximately ¥2.48 billion, representing 50.95% of total revenue, a decrease of 6.15% from the previous year[55] - The company is focusing on expanding its product lines and improving operational efficiency to counteract revenue declines[54] Research and Development - The company conducted 43 R&D projects in 2020, with R&D expenses amounting to ¥171.37 million, representing 3.52% of total revenue, an increase of 0.17% from the previous year[67] - The company completed the transformation of 27 research outcomes and applied for 9 patents during the reporting period, with a total of 39 patents authorized by the end of the year[46] - The company is investing 200 million CNY in R&D for advanced paper manufacturing technologies over the next two years[87] Strategic Initiatives - The company plans to enhance its market presence through strategic investments and potential mergers and acquisitions in the future[54] - The company is exploring potential mergers and acquisitions to enhance its product portfolio and market presence[162] - The company aims to improve operational efficiency through strategic investments and partnerships[84] - The company is actively pursuing overseas investments, particularly in Malaysia, to enhance its market competitiveness and mitigate risks associated with domestic policies[122] Environmental and Social Responsibility - The company has committed to environmental protection, being classified as a key pollutant discharge unit, with specific measures in place for wastewater and solid waste management[177] - The company has engaged in educational poverty alleviation by establishing the Zhanglou Jingxing Hope Primary School in partnership with local authorities[173] - The company invested a total of 4.32 million yuan in poverty alleviation efforts, specifically focusing on education and supporting 27 impoverished students[174] - The company has implemented a comprehensive environmental monitoring plan, including automatic monitoring of wastewater parameters and quarterly assessments of air quality[182] Risks and Challenges - The company faces macroeconomic risks that could adversely affect its operations, particularly if economic growth slows down in China[119] - The company is managing risks associated with fluctuations in raw material prices, particularly waste paper, which have seen significant increases due to trade tensions and regulatory changes[120] - The company is also exposed to exchange rate risks due to its reliance on USD for importing raw materials, which could impact its cost structure and profitability[122] Corporate Governance - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[132] - The company has committed to avoiding competition and related party transactions as per its commitments made during its initial public offering[130] - The domestic accounting firm Tianjian has been engaged for 13 consecutive years, with an audit service fee of 1.8 million yuan[137]

证券代码：002067 证券简称：景兴纸业 编号：临 2021-032 浙江景兴纸业股份有限公司 关于举办投资者接待日活动的通知 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"）已于2021年4月22日披露了 《2020年年度报告》，为便于广大投资者深入全面地了解公司情况，公司将在2020 年年度股东大会召开期间举办投资者接待日活动，现将有关事项通知如下： 一、接待时间： 2021年5月12日（星期三）上午9:30—11:00 二、接待地点： 浙江省平湖市曹桥街道景兴造纸工业园浙江景兴纸业股份有限公司内（届时会 有指示牌指引） 三、预约登记方式： 有意向参与的投资者请于2021年5月10日前与公司董事会秘书办公室联系，并同 时提供书面问题提纲，以便接待登记和安排。 联系人：姚洁青、吴艳芳 联系电话：0573－85969328传真：0573－85963320 四、公司参与人员： 公司董事长朱在龙先生、董事兼总经理王志明先生、董事兼副总经理、董事会 秘书姚洁青女士、董事兼副总经理、财务总监盛晓英女士、副总经理徐海伟先生（ ...

Financial Performance - Net profit attributable to shareholders increased by 302.31% to CNY 92,143,478.29 for the reporting period[8] - Operating income for the reporting period was CNY 1,340,724,317.21, a year-on-year increase of 1.84%[8] - Basic earnings per share rose by 300.00% to CNY 0.08 for the reporting period[8] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 310.85% to CNY 85,558,155.26[8] - The company reported a net profit of CNY 1,610,915,961.48, up from CNY 1,446,360,676.08 year-on-year[42] - The net profit for the third quarter of 2020 reached CNY 97,874,021.11, a significant increase from CNY 25,602,244.92 in the same period last year, representing a growth of approximately 282%[49] - Operating profit increased to ¥231,900,492.83, up 38.43% from ¥167,410,765.37 in the previous period[57] - Net profit for the current period is ¥213,566,369.94, representing a 33.91% increase from ¥159,502,612.38 in the previous period[57] Assets and Liabilities - Total assets increased by 24.18% to CNY 7,028,791,344.82 compared to the end of the previous year[8] - Total liabilities amounted to CNY 2,173,608,698.49, compared to CNY 1,132,346,537.06 in the previous year[41] - The company's total equity reached CNY 4,855,182,646.33, an increase from CNY 4,527,809,330.31 year-on-year[42] - Current liabilities totaled CNY 1,066,489,585.18, down from CNY 1,118,808,553.12[41] - Non-current assets totaled CNY 3,452,516,106.35, compared to CNY 3,314,578,220.85 in the previous year[40] - Total liabilities reached CNY 1,132,346,537.06, with current liabilities at CNY 1,118,808,553.12 and non-current liabilities at CNY 13,537,983.94[74] Cash Flow - Net cash flow from operating activities decreased by 86.24% to CNY 33,295,000.46 compared to the same period last year[8] - The net cash flow from operating activities for Q3 2020 was ¥332,658,365.88, a decrease of 69.4% compared to ¥1,087,430,188.32 in Q3 2019[65] - Cash inflow from financing activities totaled ¥1,850,730,752.83, significantly higher than ¥824,356,927.56 in the previous year, marking an increase of 124.4%[66] - The ending balance of cash and cash equivalents was ¥1,518,012,303.62, up from ¥922,597,665.03 at the end of Q3 2019, representing a growth of 64.7%[66] Shareholder Information - The total number of shareholders at the end of the reporting period was 79,511[12] - The largest shareholder, Zhu Zailong, holds 16.04% of the shares, totaling 178,200,000 shares[12] Investments and Projects - The company plans to invest RMB 68.665 million to construct a project with an annual production capacity of 120,000 tons of high-quality antibacterial household paper[20] - The company has pre-invested approximately 203.5 million yuan in the Malaysia project and has replaced 203.87 million yuan of self-raised funds with the raised funds[29] - The company issued 12.8 million convertible bonds with a total value of RMB 1.28 billion, which began trading on September 18, 2020[17] Other Financial Metrics - The weighted average return on net assets was 2.06%, an increase of 1.53% from the previous year[8] - The company’s financial expenses decreased by 64.50% compared to the same period last year, primarily due to a reduction in interest expenses from interest-bearing debts[16] - The company’s investment income increased by 40.04% compared to the same period last year, mainly due to an increase in equity divestment gains[16] - The company’s other comprehensive income decreased by 490% compared to the beginning of the period, mainly due to foreign currency translation adjustments[16] Research and Development - Research and development expenses for the third quarter were CNY 40,565,800.47, down from CNY 45,262,625.79 in the previous year, reflecting a decrease of approximately 10%[48] - Research and development expenses rose to ¥141,688,126.64, an increase of 10.67% from ¥128,241,302.39 in the previous period[56] Compliance and Reporting - The report was issued by Chairman Zhu Zailong on October 31, 2020[81] - The company has not undergone an audit for the Q3 report[80] - The company has not made any adjustments to prior comparative data under the new standards[80]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥2,137,370,572.02, a decrease of 16.91% compared to ¥2,572,289,451.73 in the same period last year[18]. - The net profit attributable to shareholders was ¥111,303,835.47, down 13.73% from ¥129,025,271.80 year-on-year[18]. - The net profit after deducting non-recurring gains and losses was ¥73,288,381.64, a decline of 37.99% compared to ¥118,180,189.13 in the previous year[18]. - The net cash flow from operating activities was ¥299,363,365.42, a significant drop of 64.60% from ¥845,543,254.67 in the same period last year[18]. - Basic earnings per share decreased by 16.67% to ¥0.10 from ¥0.12 in the previous year[18]. - Total operating revenue for the reporting period was CNY 2,137,370,572.02, a decrease of 16.91% compared to CNY 2,572,289,451.73 in the same period last year[41]. - The net cash flow from operating activities decreased by 64.60% to CNY 299,363,365.42, primarily due to lower cash received from sales compared to the previous year[42]. - The gross profit margin for the paper industry was 9.95%, slightly improved by 0.16% from the previous year, despite a 16.91% drop in revenue[43]. - The company reported a total profit for the first half of 2020 of CNY 69,573,574.21, a decrease of 15.3% from CNY 82,116,349.80 in the same period of 2019[164]. Assets and Liabilities - Total assets at the end of the reporting period were ¥5,791,603,216.03, an increase of 2.32% from ¥5,660,155,867.37 at the end of the previous year[18]. - The total liabilities of the company were RMB 1,202,501,648.20, up from RMB 1,132,346,537.06, indicating an increase of about 6.16%[152]. - The company's equity attributable to shareholders rose to RMB 4,425,131,793.21 from RMB 4,368,228,069.05, marking an increase of approximately 1.30%[153]. - The total assets as of June 30, 2020, were CNY 4,520,527,637.67, an increase from CNY 4,379,339,039.99 at the end of 2019[157]. - Total liabilities increased to CNY 567,431,415.89 as of June 30, 2020, compared to CNY 454,289,845.42 at the end of 2019[157]. Cash Flow - The net cash flow from operating activities for the first half of 2020 was ¥177,839,860.26, a decrease of 69.1% compared to ¥578,455,054.91 in the same period of 2019[172]. - The cash flow from financing activities generated a net inflow of ¥102,871,988.25, significantly up from ¥9,788,137.02 in the same period last year[172]. - The total cash and cash equivalents at the end of the period amounted to ¥507,125,691.03, down from ¥562,423,774.98 at the end of the previous year[172]. - The company reported a decrease in cash outflow from operating activities, which was ¥1,467,017,077.73 compared to ¥1,746,727,287.51 in the previous year, indicating a 16% reduction[172]. Research and Development - Research and development expenses increased by 21.87% to ¥101,122,326.17, accounting for 4.73% of operating revenue[36]. - Research and development investment increased by 21.87% to CNY 101,122,326.17, indicating a focus on innovation despite overall revenue decline[42]. - Research and development expenses for the first half of 2020 were CNY 101,122,326.17, an increase from CNY 82,978,676.60 in the first half of 2019[158]. Dividends and Shareholder Returns - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company did not distribute cash dividends or bonus shares for the first half of 2020[76]. Environmental Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities[111]. - Total COD emissions for the company are 180.66 tons per annum, with a discharge concentration of 120 mg/l, adhering to the third-level standard[111]. - The company has established a stable wastewater treatment system with facilities located in both the northern and southern areas of the plant[111]. - The company has a comprehensive solid waste disposal strategy, including recycling and incineration for various types of waste[113]. Legal Matters - The company won a lawsuit against Suzhou Yaqing Trading Co., with a claim amount of ¥17.75 million, and the judgment is currently being executed[83]. - The company also won a lawsuit against Zhang Kaiping regarding a lease contract dispute, with a claim amount of ¥8.54 million, and the judgment is currently being executed[83]. - The company has no significant litigation or arbitration matters during the reporting period[82]. Strategic Initiatives - The company plans to invest in an 800,000-ton waste paper pulp board project in Malaysia to ensure stable raw material supply[70]. - The company is monitoring changes in industry policies that could impact its competitive advantage and operational development[69]. - The company is managing risks related to the reduction or cancellation of import quotas for waste paper, which is crucial for production[70]. Financial Strategy - The company has engaged in entrusted wealth management with a maximum balance of CNY 192 million during the reporting period[109]. - The company reported a total of CNY 181 million in approved guarantees for subsidiaries, with an actual occurrence of CNY 77.49 million[106]. - The company’s financial strategy includes maintaining a balance between approved guarantees and actual guarantees issued to manage liquidity effectively[103].

证券代码：002067 证券简称：景兴纸业 编号：临 2020-032 浙江景兴纸业股份有限公司 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。 为进一步加强与投资者特别是中小投资者的沟通交流，浙江景兴纸业股份有限 公司（以下简称"公司"）将参加由浙江证监局指导、浙江上市公司协会联合深圳市 全景网络有限公司共同举办的"凝心聚力 共克时艰"辖区上市公司投资者网上集体 接待日活动，现将有关事项公告如下： 本次投资者网上集体接待日活动将通过深圳市全景网络有限公司提供的网上交 流平台举行。投资者可以登录"全景·路演天下"网站（http://rs.p5w.net）参与公司 本次投资者网上接待日活动。网上互动交流时间为 2020 年 5 月 15 日（星期五）下 午 15:00-17:00。 届时公司董事兼总经理王志明先生、董事兼副总经理、董事会秘书姚洁青女士、 董事兼副总经理、财务总监盛晓英女士将采用网络远程方式与投资者进行沟通。（如 有特殊情况，参与人员会有调整） 欢迎广大投资者积极参与。 特此公告 浙江景兴纸业 ...

Financial Performance - The company's operating revenue for Q1 2020 was ¥863,934,840.71, a decrease of 33.54% compared to ¥1,299,849,002.48 in the same period last year[8] - Net profit attributable to shareholders was ¥43,376,001.33, down 41.80% from ¥74,529,993.50 year-on-year[8] - The net profit after deducting non-recurring gains and losses was ¥23,837,025.99, a decline of 67.91% compared to ¥74,287,368.46 in the previous year[8] - Operating revenue and operating costs decreased by 33.54% and 36.06% respectively compared to the beginning of the period, mainly due to a decline in product sales caused by the pandemic[17] - The company reported a decrease in operating profit, total profit, net profit, and net profit attributable to shareholders by 44.27%, 45.65%, 43.33%, and 41.80% respectively compared to the previous year[17] - Net profit for Q1 2020 was CNY 44,393,123.57, compared to CNY 78,332,982.46 in the same period last year, representing a decline of approximately 43.4%[47] - The company reported a total comprehensive income of CNY 37,693,884.63 for Q1 2020, compared to CNY 78,223,580.61 in the same period last year[48] - The company reported a total comprehensive income of CNY 26,158,860.48 for the quarter, which is a 35.5% decline from CNY 40,545,208.88 in the same quarter last year[52] Cash Flow - The net cash flow from operating activities was negative at -¥62,195,655.32, a decrease of 115.34% from ¥405,343,960.98 in the same period last year[8] - Net cash flow from operating activities decreased by 39.85% year-on-year, primarily due to a decline in sales revenue caused by the pandemic[18] - Cash flow from operating activities showed a net outflow of CNY 62,195,655.32, compared to a net inflow of CNY 405,343,960.98 in the previous year, indicating a significant decrease in cash generation[55] - Total cash inflow from operating activities was CNY 987,490,851.47, down from CNY 1,641,754,623.01 in the prior year[54] - The total cash and cash equivalents at the end of the period amounted to ¥370,808,237.97, down from ¥464,459,946.34 year-over-year[59] Assets and Liabilities - Total assets at the end of the reporting period were ¥5,772,938,150.48, an increase of 1.99% from ¥5,660,155,867.37 at the end of the previous year[8] - Total current assets increased to CNY 2,489,498,708.38 from CNY 2,345,577,646.52 as of December 31, 2019, representing a growth of approximately 6.1%[37] - Total liabilities increased to CNY 1,211,808,094.43 from CNY 1,132,346,537.06, reflecting an increase of approximately 7%[39] - The company's total assets reached CNY 5,772,938,150.48, up from CNY 5,660,155,867.37, representing a growth of about 2%[40] - The net profit attributable to shareholders increased to CNY 1,489,736,677.41 from CNY 1,446,360,676.08, showing a growth of approximately 3%[40] - The total equity attributable to shareholders increased to CNY 4,400,531,672.55 from CNY 4,368,228,069.05, reflecting a growth of approximately 0.7%[40] Expenses - Management expenses increased by 67.45% year-on-year, mainly due to pandemic-related shutdowns and adjustments in depreciation allocation[17] - Financial expenses decreased by 71.93% year-on-year, mainly due to a reduction in accrued bond interest[17] - Research and development expenses for Q1 2020 were CNY 49,153,971.96, compared to CNY 40,678,332.16 in the previous year, indicating an increase of approximately 20.5%[46] - The company paid CNY 102,617,943.01 in taxes during the quarter, down from CNY 156,362,157.47 in the previous year[55] Investments - The company plans to raise 1.28 billion RMB through the issuance of convertible bonds for the construction of an 800,000-ton waste paper pulp board project in Malaysia[20] - The company completed the transfer of 2.3437% equity in Shanghai Zhida Technology Development Co., Ltd. for 13,593,745 RMB[21] - The company increased its investment in Zhejiang Mingshengda Medical Materials Technology Co., Ltd. by 10 million RMB, holding 20% of the equity post-investment[22] - Cash outflow from investing activities was CNY 218,087,775.16, compared to CNY 186,637,096.65 in the same period last year, indicating increased investment expenditures[55] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 85,185[12] - Earnings per share for Q1 2020 were CNY 0.04, down from CNY 0.07 in the previous year[48] Company Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[39] Miscellaneous - The chairman of the company is Zhu Zailong, who presented the report on April 25, 2020[62] - The company did not apply new revenue and leasing standards for the first quarter of 2020[60] - The first quarter report was not audited[61]

Financial Performance - The company's operating revenue for 2019 was ¥5,251,104,950.02, a decrease of 11.57% compared to ¥5,938,130,948.71 in 2018[16] - The net profit attributable to shareholders was ¥188,668,135.80, down 43.73% from ¥335,300,136.06 in the previous year[16] - Basic earnings per share decreased by 43.33% to ¥0.17 from ¥0.30 in 2018[16] - Total assets at the end of 2019 were ¥5,660,155,867.37, a decline of 11.26% from ¥6,378,677,703.68 in 2018[16] - The company reported a weighted average return on equity of 4.40%, down from 8.33% in 2018[16] - The gross margin for the paper industry was 10.97%, down 1.64% compared to the previous year[51] - The company reported a significant increase in investment activities, with total investments reaching CNY 207,279,031.00, a 614.76% increase compared to the previous year[77] Cash Flow and Dividends - The net cash flow from operating activities increased significantly by 194.28% to ¥1,261,013,682.16 from ¥428,509,697.69 in 2018[16] - The company plans to distribute a cash dividend of ¥0.35 per 10 shares, totaling approximately ¥39,888,703.50 based on 1,111,201,000 shares[5] - The total cash dividend amount for 2019 was RMB 38,892,035, which accounted for 20.61% of the net profit attributable to ordinary shareholders[113] - The cash dividend policy has not been adjusted or changed during the reporting period, ensuring compliance with the company's articles of association[110] Market and Product Development - Future strategies include enhancing product development and exploring market expansion opportunities[5] - The company is investing USD 29.94 million in a new 1.4 million ton pulp and paper project in Malaysia, which has received necessary approvals and permits[42] - The company launched new high-end products in the "Pinxuan" brand, including three series of facial tissues, enhancing product variety and market penetration[39] - The company aims to enhance its competitiveness by expanding overseas production capacity and utilizing international waste paper resources[91] Operational Efficiency and Cost Management - The company optimized raw material inventory management to stabilize costs and reduce procurement expenses amid fluctuating raw material prices[38] - The company will enhance the production efficiency of its industrial paper division by optimizing processes and upgrading equipment to reduce energy consumption[99] - The company aims to reduce operational costs by 5% through efficiency improvements in the supply chain[141] Environmental Responsibility - The company is recognized for its environmental advantages, with average wastewater discharge per ton of paper significantly below industry standards[34] - The company has established a stable wastewater treatment system with facilities located in the northern and southern areas of the plant, ensuring compliance with environmental standards[164] - The company has committed to reducing environmental impact and enhancing operational efficiency through continuous monitoring and improvement of its waste management systems[167] Strategic Investments and Acquisitions - The company signed a major acquisition of 100% equity in Green Innovation Industrial (Malaysia) Sdn. Bhd. on April 30, 2019[59] - The company has made several investments in various sectors, including a ¥10,800 million investment in Zhejiang Haili Environmental Technology[45] - The company is considering strategic acquisitions to enhance its market position, with a budget of 3,000 million allocated for potential mergers[141] Risk Management - The company recognizes the risk of macroeconomic fluctuations impacting production and will adjust its operational strategies accordingly[103] - The company faces risks from changes in industry policies and will closely monitor policy developments to mitigate potential negative impacts on operations[103] - The company is addressing the risk of reduced import quotas for waste paper by developing stable supplier relationships and advancing its Malaysia project for waste paper pulp production[104] Research and Development - R&D expenses totaled CNY 175,844,458.02, a decrease of 14.65% from 2018[67] - The company completed 43 R&D projects, including 21 successful technology transfers, and applied for 10 patents in 2019[66] - Research and development investments are projected to increase by 20% in 2020, focusing on sustainable packaging solutions[143] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 84,077, a decrease from 85,185 in the previous month[183] - The largest shareholder, Zhu Zailong, holds 16.04% of the shares, totaling 178,200,000 shares, with 44,550,000 shares pledged[183] - The company has a clear ownership structure with no reported related party transactions among the top shareholders[184] Social Responsibility - The company has actively fulfilled its social responsibilities, including environmental protection and public welfare initiatives[153] - The company donated CNY 600,000 for educational infrastructure in Zhanglou Primary School, benefiting 27 impoverished students with a total aid of CNY 43,200[156][158] - The company plans to expand its poverty alleviation efforts into industrial and health-related areas, prioritizing employment for relocated workers[159]