Group 1: Investor Relations Activity - The investor relations activity was conducted on May 8, 2018, in Shanghai, with participation from various financial institutions [1] - The meeting was led by the company's board secretary and securities representative [1] Group 2: Impact of Import Regulations - The company is currently affected by the suspension of the PSI system from May 4 to June 4, 2018, which impacts the import of waste paper [1] - Despite the suspension, previously issued inspection certificates for American waste paper can still be processed for customs clearance [1] Group 3: Waste Paper Procurement and Pricing - The company has received a total import quota of 195,000 tons of waste paper for the year, with ongoing applications for additional quotas [2] - The price of domestic waste paper has been rising rapidly, and the company is adjusting its procurement strategy to include more Japanese OCC due to quality considerations [2] - Currently, over 50% of the company's waste paper procurement comes from its subsidiary in Japan [2] Group 4: Industry Outlook - The outlook for the paper industry is optimistic, with increasing entry barriers and a tightening of import quotas favoring larger enterprises [3] - The demand for waste paper is expected to grow annually, while the elimination of outdated production capacity is also anticipated [3] - Environmental policies are expected to slow the release of new production capacity, extending the industry's favorable cycle [3] Group 5: Cost Implications of Energy Regulations - The company is monitoring the impact of new regulations on self-owned power plants, which may affect operational costs if enforced [3] - Currently, the company does not own its power generation facilities and relies on external purchases for steam and electricity [3]

证券代码：002067 证券简称：景兴纸业 浙江景兴纸业股份有限公司投资者关系活动记录表 编号：20201116 | --- | --- | --- | |----------------|----------------------------|---------------------------------| | | | | | 投资者关系活动 | □ | 特定对象调研 √分析师会议 | | 类别 | □ | 媒体采访 □业绩说明会 | | | □ 新闻发布会 □路演活动 | | | | □ 现场参观 | | | | □ | 其他 （请文字说明其他活动内容） | | 参与单位名称及 | 实际参会： | | | 人员姓名 | 东方证券股份有限公司王清 | | | | 中银基金管理有限公司吴晓钢 | | | | 诺安基金管理有限公司简牮 | | | | 中金资管王琛 | | | | 华夏基金周欣 | | | | 东方资管谢成 | | | | 信银理财张丞 | | | | 广发基金吴敌 | | | | 平安养老王茹鸣 | | | | 平安基金吴瑶 | | | | 兴全基金翟秀华 | | | --- | --- ...

证券代码：002067 证券简称：景兴纸业 编号：20210301 | --- | --- | --- | --- | --- | --- | --- | --- | |----------------|--------------------------|----------------------------|--------------------------------------------------------|-------|-------|-------|-------| | | | | | | | | | | 投资者关系活动 | √ | 特定对象调研 □分析师会议 | | | | | | | 类别 | □媒体采访 | □业绩说明会 | | | | | | | | | □新闻发布会 □路演活动 | | | | | | | | □现场参观 | | | | | | | | | □其他 | （请文字说明其他活动内容） | | | | | | | 参与单位名称及 | 国信证券：朱张元 | | | | | | | | 人员姓名 | 申银万国研究所：柴程森 | | | | | | | | | 国联安基金 ...

证券代码：002067 证券简称：景兴纸业 编号：20210302 | --- | --- | --- | --- | --- | |----------------|------------------------------|----------------------------|-------|-------| | | | | | | | 投资者关系活动 | □特定对象调研 | √ 分析师会议 | | | | 类别 | □媒体采访 | □业绩说明会 | | | | | □新闻发布会 □路演活动 | | | | | | □现场参观 | | | | | | □其他 | （请文字说明其他活动内容） | | | | | 前方基金：梁建文 | | | | | 参与单位名称及 | 易方达基金：崔欣 | | | | | 人员姓名 | 领策投资：林东 | | | | | | 中金证券：孙翔珂 | | | | | | 招商基金：曹晋文 | | | | | | 华夏基金：周欣、吴凡、陆晓天 | | | | | | 东证资管：薛小飞、余偲媛 | | | | | | | | | | | | 银河证券：张展源 | | | | ...

证券代码：002067 证券简称：景兴纸业 浙江景兴纸业股份有限公司投资者关系活动记录表 编号：20210501 | --- | --- | --- | --- | --- | |-------------------------|--------------------------------------------------------|--------------------------------------------|-------|----------------------------| | 投资者关系活动 | □特定对象调研 □分析师会议 | | | | | 类别 | □媒体采访 | □业绩说明会 | | | | | □新闻发布会 □路演活动 | | | | | | □现场参观 | | | | | | √ 其他 （投资者接待日） | | | | | 参与单位名称及 人员姓名 | 罗祎辰、郑志刚、陈青、李兵 | | | | | 时间 2021 | 年 5 月 12 日 9:30-11:00 | | | | | 地点 公司 | 707 会议室 | | | | | 上市公司接待人 员姓名 | 副 ...

证券代码：002067 证券简称：景兴纸业 浙江景兴纸业股份有限公司投资者关系活动记录表 编号：20210901 | --- | --- | --- | --- | |----------------|-------------------------------------|--------------------------------------------------------|--------------------------| | | | | | | 投资者关系活动 | √ | 特定对象调研 □分析师会议 | | | 类别 | □媒体采访 | □业绩说明会 | | | | □新闻发布会 □路演活动 | | | | | □现场参观 | | | | | □其他 （投资者接待日） | | | | 参与单位名称及 | 国盛证券 李顺帆 | 汪文沁 | | | 人员姓名 | 中金公司 莫华寅 | | | | | 兴证全球 张睿 | 翟秀华 | | | 时间 2021 | 年 9 月 8 日 | 13:30-15:00 | | | | 地点 上海景兴实业投资有限公司办公室 | | | | 上市公司接待人 ...

证券代码：002067 证券简称：景兴纸业 浙江景兴纸业股份有限公司投资者关系活动记录表 编号：20220201 | --- | --- | --- | --- | --- | |----------------|--------------------------------------|----------------------------------------------------------|-------|----------| | | | | | | | 投资者关系活动 | □特定对象调研 √分析师会议 | | | | | 类别 | □媒体采访 | □业绩说明会 | | | | | □新闻发布会 □路演活动 | | | | | | □现场参观 | | | | | | □其他 | （请文字说明其他活动内容） | | | | 参与单位名称及 | 招商证券 李玲 张蓓 | | | | | 人员姓名 | 华安证券 马远方 | | | | | | 国投瑞银 黄知诚 | | | | | | 交银施罗德 曾怡珺 | | | | | | 浙商基金 黄玥 | | | | | 时间 2022 | 年 2 月 1 ...

Financial Performance - Q3 2022 revenue was CNY 1,559,541,753.42, a decrease of 6.31% compared to the same period last year[5] - Net profit attributable to shareholders was CNY 2,214,473.45, down 97.70% year-on-year[5] - Basic earnings per share decreased by 97.68% to CNY 0.0019[5] - The total operating revenue for the period reached RMB 4,600,337,736.45, an increase from RMB 4,502,245,849.86 in the previous period, reflecting a growth of approximately 2.0%[18] - The company's net profit attributable to shareholders increased to RMB 2,218,475,640.50 from RMB 2,100,176,158.44, marking a growth of about 5.6%[17] - In Q3 2022, the company's net profit reached CNY 123,845,109.46, a decrease of 67.5% compared to CNY 381,302,137.91 in Q3 2021[19] - The company's operating profit was CNY 121,404,217.08, down 71.2% from CNY 421,067,767.17 in Q3 2021[19] - The company reported a total comprehensive income of CNY 125,460,507.67, down from CNY 350,060,656.09 in the same quarter last year[20] - Basic earnings per share were CNY 0.0991, compared to CNY 0.3147 in Q3 2021, reflecting a decline of 68.5%[20] Cash Flow and Liquidity - Operating cash flow increased significantly by 469.58% to CNY 727,922,400[5] - The company reported a significant increase in cash flow from operating activities, indicating improved liquidity[5] - Cash flow from operating activities increased by 370% year-on-year, mainly due to an increase in cash received from sales of goods[9] - The net cash flow from operating activities was CNY 727,922,455.08, significantly higher than CNY 127,799,068.67 in Q3 2021[23] - The net increase in cash and cash equivalents increased by 75.67% year-on-year, primarily due to the combined effects of the aforementioned factors[9] - The company's cash and cash equivalents decreased to RMB 1,265,002,843.38 from RMB 1,340,654,032.85, representing a decline of approximately 5.6%[15] - The cash and cash equivalents at the end of the period were CNY 1,253,697,377.08, slightly up from CNY 1,226,417,562.08 at the end of Q3 2021[23] Assets and Liabilities - Total assets at the end of the reporting period were CNY 7,980,637,014.48, an increase of 0.51% from the beginning of the year[5] - Total assets as of September 30, 2022, were RMB 7,980,637,014.48, slightly up from RMB 7,940,283,181.97 at the beginning of the year[17] - Total liabilities increased to RMB 2,463,216,073.82 from RMB 2,324,908,319.70, reflecting an increase of approximately 5.9%[17] - Non-current liabilities due within one year increased by 426% compared to the beginning of the period, while long-term borrowings decreased by 64.26% due to the reclassification of long-term borrowings[9] - Shareholders' equity attributable to the parent company was CNY 5,515,932,193.33, up 1.50% from the beginning of the year[5] Investments and Acquisitions - The company completed the acquisition of a 25% stake in Zhejiang Jingxing Board Paper Co., Ltd. for RMB 224,207,150, fully paid as of the report date[13] - The company transferred 100% equity of Sichuan Jingtai Color Packaging Co., Ltd. for RMB 11,043,519.20, receiving the full payment by the report date[13] - Construction in progress increased by 60.25% compared to the beginning of the period, primarily due to increased investment in the Malaysia project with an annual capacity of 800,000 tons of waste paper pulp board[9] - The total investment activities resulted in a net cash outflow of CNY 546,442,897.43, compared to a net outflow of CNY 413,945,949.79 in Q3 2021[23] Operational Metrics - The total operating costs amounted to RMB 4,702,644,746.55, up from RMB 4,135,435,188.95, indicating a significant increase of about 13.7%[18] - Accounts receivable decreased by 51.44% compared to the beginning of the period, primarily due to the collection and payment of matured notes[9] - Accounts receivable decreased to RMB 458,053,711.61 from RMB 567,684,827.96, a reduction of about 19.3%[16] - Inventory increased to RMB 666,264,987.66 from RMB 638,178,180.92, showing a rise of approximately 4.4%[16] - Research and development expenses amounted to CNY 158,322,019.47, a decrease of 9.1% compared to CNY 174,100,086.87 in the previous year[19] Other Financial Information - Non-recurring gains and losses for the current period amounted to CNY 2,639,754.25[7] - The company implemented a retrospective adjustment in accounting policy affecting previous financial statements due to changes in cost classification[6] - Financial expenses increased by 64.76% year-on-year, mainly due to an increase in exchange losses[9] - Deferred income increased by 49.40% compared to the beginning of the period, mainly due to government subsidies received[9] - The number of ordinary shareholders at the end of the reporting period was 69,779[10]

Financial Performance - The company's operating revenue for the first half of 2022 was approximately ¥3.04 billion, representing a 7.16% increase compared to ¥2.84 billion in the same period last year[19]. - The net profit attributable to shareholders decreased by 56.17% to approximately ¥116.09 million, down from ¥264.86 million in the previous year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 59.22% to approximately ¥107.44 million[19]. - Basic earnings per share decreased by 56.52% to ¥0.10, while diluted earnings per share decreased by 57.14% to ¥0.09[19]. - The comprehensive gross margin decreased by 10.76% compared to the previous year[31]. - The company reported a net profit of 290 million in the first half of 2022, up 15% compared to the same period in 2021[122]. - The company reported a significant reduction in production costs by 5% due to improved operational efficiencies[122]. - The net profit for the first half of 2022 was CNY 124,273,120.01, a decrease of 55.9% from CNY 281,936,703.23 in the previous year[176]. Cash Flow and Investments - The net cash flow from operating activities increased significantly by 135.44% to approximately ¥333.83 million, compared to ¥141.79 million in the same period last year[19]. - The net cash flow from investing activities worsened by 244.19%, resulting in a net outflow of ¥371,508,037.83, primarily due to increased purchases of financial products[36]. - The company reported a significant increase in user data, with a 10% rise in customer engagement metrics compared to the previous year[190]. - The net cash flow from investing activities was -459,816,511.84 CNY, compared to -172,493,812.32 CNY in the previous period, indicating a significant increase in cash outflow for investments[184]. Assets and Liabilities - Total assets at the end of the reporting period were approximately ¥8.08 billion, a 1.70% increase from ¥7.94 billion at the end of the previous year[19]. - The company's total liabilities as of June 30, 2022, were CNY 2,335,318,096.12, slightly up from CNY 2,324,908,319.70 at the start of the year[168]. - The total equity attributable to shareholders increased to CNY 5,550,809,698.70 from CNY 5,434,184,833.34, reflecting an increase of approximately 2.1%[168]. - The total liabilities of the company were recorded at 1,839 million yuan, which is crucial for assessing the company's leverage and financial stability[195]. Strategic Initiatives - The company is advancing its project in Malaysia, with expectations to commence trial operations in the fourth quarter[31]. - The company plans to enhance its market competitiveness through overseas investments, particularly in Malaysia, despite potential risks from international political and economic changes[78]. - The company plans to invest in Jiangsu Province to build a production facility with an annual capacity of 2 million tons of packaging paperboard and household paper[130]. - The company aims to enhance its profitability through strategic investments in new technologies and product development[197]. Environmental Commitment - The company holds a unique advantage in environmental protection, with average wastewater discharge per ton of paper significantly below industry standards[34]. - The company is committed to a circular economy model, utilizing recycled paper as a primary raw material, aligning with national policies[34]. - The company has implemented a stable wastewater treatment system with facilities located in both the northern and southern factory areas[87]. - The company has a strong commitment to environmental sustainability, aligning with industry trends towards eco-friendly products[198]. Risks and Challenges - The company faces risks from macroeconomic fluctuations, which could adversely affect production and operations if economic growth slows[76]. - The company is exposed to raw material price volatility, particularly in waste paper, which has seen significant price increases due to trade tensions and regulatory changes[76]. - The company has established strategic partnerships with multiple suppliers to ensure stable and high-quality raw material supply amid the "ban on waste" policy[78]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares for this period[5]. - The total number of ordinary shareholders at the end of the reporting period was 71,771[140]. - The largest shareholder, Zhu Zailong, holds 14.93% of the shares, totaling 178,200,000 shares[141]. - The company has implemented restrictions on share transfers for departing executives, limiting annual transfers to 25% of their total holdings[139]. Future Outlook - Future guidance estimates a revenue growth of 12% for the full year 2022, driven by increased demand and market expansion[122]. - The management provided a performance guidance for the second half of 2022, expecting a revenue growth of approximately 7%[190]. - The company aims to enhance its product portfolio by launching new paper products tailored to meet market demands in the upcoming quarters[190]. - The company is exploring market expansion opportunities, but no specific strategies were outlined in the report[128].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 1,459,767,590.73, representing an increase of 11.97% compared to the same period last year[4]. - The net profit attributable to shareholders decreased by 33.37% to CNY 77,551,068.98, while the net profit after deducting non-recurring gains and losses fell by 35.76% to CNY 73,342,579.46[4]. - The company's weighted average return on equity was 1.42%, down from 2.42% in the same period last year, reflecting a decline in profitability[4]. - Net profit for Q1 2022 was CNY 84,020,367.81, a decrease of 32.94% from CNY 125,580,728.95 in Q1 2021[23]. - The company's operating profit for Q1 2022 was CNY 83,412,850.01, down 41.19% from CNY 141,902,137.53 in the previous year[23]. - Earnings per share for Q1 2022 was CNY 0.07, compared to CNY 0.10 in Q1 2021[23]. - The company’s total comprehensive income for Q1 2022 was CNY 75,940,041.26, down from CNY 112,278,087.14 in Q1 2021[23]. Cash Flow - The net cash flow from operating activities increased significantly by 335.96% to CNY 103,247,690.22, indicating improved cash generation from core operations[4]. - Cash inflow from operating activities totaled ¥1,631,773,483.06, up from ¥1,247,409,694.64 in the previous period, indicating a growth of approximately 30.8%[25]. - Cash outflow from operating activities increased to ¥1,528,525,792.84 from ¥1,291,166,910.92, reflecting a rise of about 18.4%[25]. - The net cash flow from financing activities improved to ¥37,056,425.45 from -¥46,097,425.08, indicating a positive shift[27]. - The company reported a significant increase in tax refunds received, amounting to ¥88,941,135.38 compared to ¥10,093,046.58 in the previous period, marking an increase of approximately 780.5%[25]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 7,940,283,181.97, a slight decrease of 0.30% from the previous year-end[5]. - Total liabilities as of Q1 2022 amounted to CNY 2,225,828,083.59, a decrease from CNY 2,324,908,319.70 in the previous year[21]. - Total equity attributable to shareholders of the parent company was CNY 5,503,006,954.21, an increase from CNY 5,434,184,833.34 year-on-year[21]. - Current assets totaled RMB 3.44 billion, down from RMB 3.54 billion at the beginning of the year[19]. - Cash and cash equivalents increased to RMB 1.35 billion from RMB 1.34 billion at the beginning of the year[18]. - Accounts receivable decreased to RMB 531.83 million from RMB 567.68 million[18]. - Inventory decreased to RMB 591.63 million from RMB 638.18 million[18]. - Short-term borrowings increased to RMB 589.74 million from RMB 547.01 million[19]. - Accounts payable increased to RMB 277.65 million from RMB 241.36 million[19]. Operational Developments - The company plans to invest in a project in Jiangsu Province to produce 2 million tons of packaging paper and household paper annually[16]. - The company has established a wholly-owned subsidiary, Jingxing (Jiangsu) Environmental Technology Co., Ltd., with a registered capital of RMB 10 million[16]. - The company is in the process of shutting down Nanjing Jingxing due to poor financial performance, with a severance provision of RMB 11.71 million[16]. - The company reported a significant increase in contract liabilities by 69.82%, primarily due to an increase in advance payments received[10]. Expenses - Total operating costs for Q1 2022 were CNY 1,475,575,185.44, up 25.43% from CNY 1,176,168,520.56 year-on-year[21]. - The company reported a decrease in research and development expenses to CNY 36,606,162.91 from CNY 50,737,870.84 in the previous year[21]. - Financial expenses decreased by 84.56% compared to the previous year, mainly due to reduced interest expenses[11].