本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏。 厦门合兴包装印刷股份有限公司（以下简称"公司"或"本公司"）第七届 董事会第九次会议于 2025 年 11 月 14 日在厦门市湖里区五缘湾同安商务大厦 2 号 楼 19 楼公司会议室以现场会议和通讯相结合的方式召开。经全体董事一致同意豁 免会议通知时间要求。公司本届董事会有董事 7 人，亲自出席会议的董事 7 人。 公司高级管理人员列席了本次会议。会议符合《公司法》和《公司章程》的有关 规定。会议由公司董事长许晓光先生召集并主持。 证券代码：002228 证券简称：合兴包装 公告编号：2025-117 号 厦门合兴包装印刷股份有限公司 第七届董事会第九次会议决议公告 为保证第七届董事会审计委员会的正常运作，根据《公司章程》《董事会审 计委员会工作条例》等有关规定，同意补选职工董事邱素英女士为公司第七届董 事会审计委员会委员，与卢永华先生（主任委员）、唐炎钊先生共同组成第七届董 事会审计委员会，任期自本次董事会审议通过之日起至第七届董事会任期届满之 日止。 具体内容详见公司于同日刊载在《证券时报》《证券日报》和 ...

深交所公开信息显示，当日该股因日振幅值达15.42%上榜，机构专用席位净卖出116.92万元。 证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交2.24亿元，其中，买入成交额为6310.13 万元，卖出成交额为1.61亿元，合计净卖出9754.97万元。 具体来看，今日上榜的营业部中，共有2家机构专用席位现身，即买一、买四、卖五，合计买入金额 2555.88万元，卖出金额2672.80万元，合计净卖出116.92万元。 合兴包装今日下跌1.72%，全天换手率17.74%，成交额8.72亿元，振幅15.42%。龙虎榜数据显示，机构 净卖出116.92万元，营业部席位合计净卖出9638.05万元。 资金流向方面，今日该股主力资金净流出1.39亿元，其中，特大单净流出1.55亿元，大单资金净流入 1641.83万元。近5日主力资金净流出1.00亿元。（数据宝） 合兴包装11月14日交易公开信息 | 买/ | 会员营业部名称 | 买入金额（万 | 卖出金额（万 | | --- | --- | --- | --- | | 卖 | | 元） | 元） | | 买一 | 机构专用 | 1482.50 | 1814. ...

Core Viewpoint - The stock price of Hexing Packaging has experienced fluctuations, with a recent decline of 2.21% and a total market capitalization of 4.841 billion yuan. The company has seen significant trading activity, with net outflows of main funds amounting to 55.88 million yuan [1]. Group 1: Stock Performance - Hexing Packaging's stock has increased by 41.04% year-to-date, with a 12.08% rise over the last five trading days, 17.35% over the last 20 days, and 18.05% over the last 60 days [2]. - As of September 30, 2025, the number of shareholders has increased to 25,400, reflecting a 4.61% rise, while the average circulating shares per person decreased by 2.97% to 47,627 shares [2]. Group 2: Financial Performance - For the period from January to September 2025, Hexing Packaging reported a revenue of 7.743 billion yuan, representing a year-on-year decrease of 9.84%. However, the net profit attributable to shareholders increased by 10.52% to 160 million yuan [2]. - The company has distributed a total of 1.294 billion yuan in dividends since its A-share listing, with 488 million yuan distributed over the past three years [3]. Group 3: Business Overview - Hexing Packaging, established on May 17, 1993, and listed on May 8, 2008, specializes in the research, design, production, and sales of mid-to-high-end corrugated cartons, with 88.38% of its revenue coming from corrugated packaging [2]. - The company operates within the light industry manufacturing sector, specifically in packaging and printing, and is associated with concepts such as low price, small cap, green packaging, and digital watermarking [2]. Group 4: Shareholder Information - As of September 30, 2025, the ninth largest circulating shareholder is the "Zhaoshang Quantitative Selected Stock Initiation A" fund, which holds 7.0759 million shares, indicating a new entry among the top shareholders [3].

Core Insights - The first phase of the employee stock ownership plan of Hexing Packaging has been fully sold after ten years, which began in July 2015 and underwent six extensions, with the last extension approved by the board in May this year [2] - The company indicated that the employee stock ownership plan resulted in losses, despite having a leverage of two times and an initial scale of 120 million [2] - Currently, the controlling shareholder of Hexing Packaging has 19.08% of its shares pledged, with a total of 75.79 million shares pledged, representing 19.08% of the shares held and 6.25% of the total share capital of the company [2]

Core Viewpoint - Recently, Hexing Packaging announced the complete sale of its first employee stock ownership plan after ten years, while the controlling shareholder plans to reduce its stake by no more than 1.91%. Despite the reduction announcement, the company's stock price surged to a five-year high of 4.08 yuan, contrasting sharply with the losses from the employee stock ownership plan [2][3]. Group 1: Shareholder Actions - The controlling shareholder, Xinjiang Xinghui Ju Equity Investment Management Partnership, plans to reduce its holdings by up to 23.22 million shares, representing 1.91% of the total share capital, from December 4, 2025, to March 3, 2026 [2]. - As of now, Xinjiang Xinghui Ju holds 397 million shares, accounting for 32.73% of the total share capital [2]. - The stock price reached a closing price of 4.08 yuan on November 13, 2025, marking a significant increase from a low of 1.87 yuan in 2024 [3]. Group 2: Employee Stock Ownership Plan - The first employee stock ownership plan, initiated in July 2015, has been fully sold, with a total of 12.48 million shares sold, representing 1.03% of the total share capital [3][5]. - The average purchase price for the employee stock ownership plan was 25.00 yuan per share, with a total investment of up to 40 million yuan [4]. - The employee stock ownership plan ended with losses, as the total sale amount was approximately 45.93 million yuan based on the closing price of 3.68 yuan on November 11, 2025 [5][6]. Group 3: Financial Implications - The controlling shareholder's potential cash-out from the planned reduction could exceed 94 million yuan if sold at the current price of 4.08 yuan [3]. - The employee stock ownership plan received over 1.2 million yuan in cash dividends during its tenure, despite the overall loss on the stock sales [5][6]. - As of now, 19.08% of the controlling shareholder's shares are under pledge, with a total of 75.79 million shares pledged, representing 6.25% of the company's total share capital [6].

Core Insights - The recent announcements from Hexing Packaging include the complete sale of the first employee stock ownership plan after ten years and a plan by the controlling shareholder to reduce their stake by up to 1.91% [1][2] - Following the announcement of the shareholder's reduction plan, Hexing Packaging's stock price surged to a five-year high of 4.08 yuan, contrasting sharply with the losses from the employee stock ownership plan [1][2] Shareholder Reduction Plan - The controlling shareholder, Xinjiang Xinghui Ju Equity Investment Management Partnership, plans to reduce their holdings by up to 23.22 million shares, representing 1.91% of the total share capital, from December 4, 2025, to March 3, 2026 [1][2] - As of now, Xinjiang Xinghui Ju holds 397 million shares, accounting for 32.73% of the total share capital [1] Employee Stock Ownership Plan - The first phase of the employee stock ownership plan has been fully sold, with a total of 12.48 million shares sold, representing 1.03% of the total share capital [2][5] - The employee stock ownership plan began in July 2015 and has undergone six extensions, with the last extension approved in May 2025 [2][3] Financial Performance - The stock price of Hexing Packaging reached a low of 1.87 yuan in 2024 and has since risen to 4.08 yuan by November 13, 2025, marking a significant recovery [2] - The employee stock ownership plan incurred losses, with the total sale amounting to approximately 45.93 million yuan based on a closing price of 3.68 yuan prior to the sale [5] - Over the ten years, Hexing Packaging has distributed more than 1.2 billion yuan in dividends, with the employee stock ownership plan receiving over 12 million yuan in cash dividends [5] Share Pledge Status - Currently, 19.08% of the controlling shareholder's shares are under pledge, with a total of 75.79 million shares pledged, representing 6.25% of the company's total share capital [5]

Market Overview - The packaging and printing sector increased by 1.28% on November 13, with Jinfu Technology leading the gains [1] - The Shanghai Composite Index closed at 4029.5, up 0.73%, while the Shenzhen Component Index closed at 13476.52, up 1.78% [1] Stock Performance - Jinfu Technology (stock code: 003018) closed at 16.89, rising by 10.03% with a trading volume of 104,900 shares and a transaction value of 174 million yuan [1] - Hexing Packaging (stock code: 002228) closed at 4.08, up 9.97% with a trading volume of 1,103,000 shares [1] - Hongyu Packaging Materials (stock code: 920274) closed at 31.66, increasing by 5.71% [1] - Other notable performers include Yinglian Co., Ltd. (stock code: 002846) up 4.84% and Nanshi Technology (stock code: 301355) up 3.64% [1] Capital Flow - The packaging and printing sector experienced a net outflow of 62.21 million yuan from institutional investors and 84.42 million yuan from retail investors, while retail investors saw a net inflow of 147 million yuan [2] - The capital flow data indicates that institutional and speculative funds are withdrawing, while retail investors are increasing their positions [2] Individual Stock Capital Flow - Yinglian Co., Ltd. (stock code: 002846) had a net inflow of 84.76 million yuan from institutional investors, but a net outflow of 68.72 million yuan from retail investors [3] - Hexing Packaging (stock code: 002228) saw a net inflow of 34.79 million yuan from institutional investors, with retail investors withdrawing 22.62 million yuan [3] - Other stocks like Jinghua Laser (stock code: 603607) and Nanshi Technology (stock code: 301355) also showed mixed capital flows, with institutional inflows but retail outflows [3]

Group 1 - The core point of the article is that the controlling shareholder of Hexing Packaging (合兴包装) plans to reduce its stake in the company by selling up to 23,220,298 shares, which represents 1.91% of the total share capital [1] - The controlling shareholder, Xinjiang Xinghuiju Equity Investment Management Partnership, currently holds 397,173,280 shares, accounting for 32.73% of the total share capital [1] - The planned reduction will occur within three months after the announcement, using block trading and/or centralized bidding methods [1] Group 2 - Based on the closing price of 3.71 yuan per share on November 12, the estimated cash amount from the reduction is approximately 86.15 million yuan [1] - Xinjiang Xinghuiju initially held 147 million shares, which was 42.43% of the total share capital, and has cumulatively reduced its holdings by 5.6 million shares since the first reduction on September 15, 2011 [1][2] - The total cash amount realized from previous reductions amounts to approximately 42.97 million yuan [2]

Core Points - The stock price of Hexing Packaging has increased by 5.39% on November 13, reaching 3.91 CNY per share, with a trading volume of 210 million CNY and a turnover rate of 4.60%, resulting in a total market capitalization of 4.744 billion CNY [1] - Hexing Packaging has experienced a continuous rise in stock price for four consecutive days, with a cumulative increase of 6% during this period [1] Company Overview - Hexing Packaging, established on May 17, 1993, and listed on May 8, 2008, is located in the Tong'an Business Building, Wuyuan Bay, Huli District, Xiamen, Fujian Province [1] - The company's main business involves the research, design, production, sales, and service of mid-to-high-end corrugated cartons, with revenue composition as follows: corrugated packaging 88.38%, color box packaging 4.50%, others 3.24%, industrial paper 2.80%, and cushioning packaging 1.08% [1] Shareholder Information - Among the top ten circulating shareholders of Hexing Packaging, a fund under China Merchants Fund, specifically the China Merchants Quantitative Selected Stock A (001917), has entered the top ten in the third quarter, holding 7.0759 million shares, which accounts for 0.59% of the circulating shares [2] - The estimated floating profit for this fund today is approximately 1.4152 million CNY, with a total floating profit of 1.4859 million CNY during the four-day increase [2] - The China Merchants Quantitative Selected Stock A fund was established on March 15, 2016, with a latest scale of 3.663 billion CNY, achieving a year-to-date return of 39.76% and a one-year return of 37.06% [2]

Core Points - On November 12, Century Huatong announced a share repurchase plan of 500 million to 1 billion yuan for capital reduction [1][2] - A total of 18 A-share listed companies disclosed share reduction plans, indicating a trend of shareholder divestment [1][2] Summary of Share Repurchase - Century Huatong plans to repurchase shares worth between 500 million and 1 billion yuan to reduce registered capital [2] Summary of Share Reductions - Tai Xiang Co. plans to reduce no more than 1% of its shares by shareholder Zhongyuan Investment [2] - Jiang Bolong's second-largest shareholder has completed a reduction of 4.1915 million shares [2] - Senior management of Zhejiang Zhongcheng plans to reduce their holdings [2] - Controlling shareholder of Hexing Packaging intends to reduce no more than 1.91% of shares [2] - Shareholder Wang Ge of Dongfang Zhongke plans to reduce no more than 0.51% of shares [2] - Executive Yu Qingchi of Kuai Publishing plans to reduce no more than 0.02% of shares [2] - Directors and executives of Changlian Co. plan to collectively reduce no more than 0.77% of shares [2] - China Unicom's structural adjustment fund reduced 40.7003 million shares from November 10 to November 12 [2] - Shareholder Chen Bei of Ruimaite plans to reduce no more than 1.76% of shares [2] - Shareholder Zhang Hong of Aipeng Medical plans to reduce no more than 2% of shares [2] - Director Wo Jinye of Jujiao Co. plans to reduce no more than 0.01% of shares [2] - Directors and executives of Zhonglan Environmental Protection plan to reduce their holdings [2] - Shareholders Ning Kangqi and Beikangqi of Hendi Pharmaceutical plan to collectively reduce no more than 2.33% of shares [2] - Wuxi High-tech Zone New Momentum Industry Development Fund reduced 549,200 shares of Xiangnan Chip [2] - Controlling shareholder of Tianji Co. sold 8.4 million shares during a period of significant stock trading volatility [2] - The second-largest shareholder of Fangzheng Electric reduced a total of 1.6324 million shares on November 10 and 12 [2] - Controlling shareholder of Haodangjia plans to reduce no more than 2.7% of shares [2] - Controlling shareholder of Zhibang Home reduced 905,000 convertible bonds [2]