Group 1: Raw Material Impact and Pricing Strategy - Recent increase in raw material prices will impact the company, but price adjustments will be made in a timely manner based on market conditions [1][2] - The company adopts a centralized procurement strategy to control costs and mitigate the effects of raw material price fluctuations [2] Group 2: Market Share and Industry Position - The company's market share is approximately 3%, indicating significant potential for growth compared to more mature packaging markets abroad [3] - The packaging industry in China has a low concentration, suggesting opportunities for consolidation and increased market share [3] Group 3: Production Capacity and Future Expansion - Current overall capacity utilization is over 70%, with plans to enhance this through sales channel expansion and process optimization [4] - The company is planning to release additional capacity in overseas projects in Thailand, Vietnam, and Indonesia next year [5] Group 4: Customer Distribution and Industry Segmentation - The company has established strong partnerships across various sectors, with the following distribution: - Home appliances: 22% - Beer: 15% - Dairy: 14% - Food: 11% - Daily chemicals: 4% - E-commerce logistics: 4% - Others: 30% [6] Group 5: Strategic Considerations and Future Plans - The company is monitoring potential investment and acquisition opportunities while focusing on its core business [8] - There is an emphasis on employee value and long-term incentive mechanisms to share company growth with staff [8] - The company prioritizes cash dividends as a means of returning value to shareholders, with future plans to consider strategic, market, and cash flow factors [8]

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。 1、本次解除质押基本情况 厦门合兴包装印刷股份有限公司（以下简称"公司"或"本公司"）于近日 收到本公司控股股东新疆兴汇聚股权投资管理有限合伙企业（以下简称"新疆兴 汇聚"）关于将其持有的本公司部分股份办理了解除质押的通知，具体事项如下： 2、股东股份累计质押情况 一、股东股份解除质押的基本情况 | | 是否为控股股东 | 本次解除质押 | 占其所持 | 占公司总 | | | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | | 股东名称 | 或第一大股东及 | 股份数量 | 股份比例 | 股本比例 | 起始日 | 解除日期 | | | | 其一致行动人 | （股） | （%） | （%） | | | | | 新疆兴汇聚股 | | 4,050,000 | 1.02 | 0.33 | 2025-1-6 | 2025-11-11 | 中信银行股份 | | 权投资管理有 限合伙企业 | 是 | 5,650,000 | 1.42 | 0.47 | 2025-3 ...

Group 1: Investor Relations and Dividend Policy - The company plans to implement a mid-year cash dividend in 2025 to enhance shareholder returns and boost investor confidence [2][3] - Future cash dividend levels will be determined based on performance and financial planning [2][3] Group 2: Overseas Business Development - The company's overseas operations are primarily focused in Southeast Asia, including Thailand, Vietnam, Malaysia, and Indonesia [4] - Capacity planning will be adjusted based on order conditions and market demand [4] Group 3: Competitive Advantages - The company leverages clear capacity demands from clients to avoid blind expansion in overseas markets [5] - Group-level support services are provided to meet global collaboration needs, enhancing efficiency and cost control compared to local competitors [5] Group 4: Order Status and Client Distribution - The company has established a stable customer base in the corrugated packaging industry, with good order conditions and orderly production [6] - Client distribution: Home appliances (22%), Beer (15%), Dairy (14%), Food (11%), Daily chemicals (4%), E-commerce logistics (4%), Others (30%) [7] Group 5: Customer Expansion and Employee Incentives - The company adopts a diverse customer development strategy, enhancing product value and customer loyalty to attract a wide range of clients [8] - The company values employee contributions and is committed to establishing effective incentive mechanisms, with future plans to disclose relevant information as required [8]

1、公司分别于 2015 年 4 月 28 日、2015 年 5 月 20 日召开第三届董事会第 十七次会议和 2014 年年度股东大会，审议通过了《关于公司第一期员工持股计 划（草案）及摘要的议案》，同意公司实施第一期员工持股计划。 公司第一期员工持股计划设立后全额认购兴证证券资产管理有限公司设立 的兴证资管鑫众 15 号集合资产管理计划的次级份额，鑫众 15 号集合资产管理计 划由兴证证券资产管理有限公司管理。兴证资管鑫众 15 号集合资产管理计划主 要投资范围为购买和持有合兴包装股票。具体内容详见 2015 年 4 月 30 日、2015 年 5 月 21 日刊载在《证券时报》《证券日报》《中国证券报》《上海证券报》 和巨潮资讯网（http://www.cninfo.com.cn）的相关公告。 2、截至 2015 年 7 月 23 日，公司第一期员工持股计划通过二级市场及大宗 交易方式累计购入公司股票 4,457,961 股，占公司当时总股本的比例为 1.20%， 至此，公司完成第一期员工持股计划标的股票的购买。锁定期自公司公告本员工 持股计划购买完成之日起 12 个月，即 2015 年 7 月 24 ...

Core Viewpoint - The company has fully sold all shares held under its first employee stock ownership plan, totaling 12,482,291 shares, which represents 1.03% of the company's total share capital [1] Summary by Relevant Sections - **Employee Stock Ownership Plan** - The first employee stock ownership plan has completed the sale of all its shares [1] - A total of 12,482,291 shares were sold through the secondary market [1] - The shares sold account for 1.03% of the company's total share capital [1]

Core Points - The company has fully sold all shares held under its first employee stock ownership plan [1] - As of July 23, 2015, the employee stock ownership plan acquired a total of 4.458 million shares, representing 1.20% of the company's total share capital at that time [1] - The lock-up period for the employee stock ownership plan was set for 12 months, from July 24, 2015, to July 23, 2016 [1]

Core Insights - The packaging and printing sector experienced a 1.01% increase on November 10, with Zhongrui Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 4018.6, up 0.53%, while the Shenzhen Component Index closed at 13427.61, up 0.18% [1] Sector Performance - Zhongrui Co., Ltd. (002374) saw a closing price of 3.48, with a significant increase of 10.13% and a trading volume of 1.0281 million shares, amounting to a transaction value of 343 million yuan [1] - Jiyou Co., Ltd. (603429) also performed well, closing at 10.34 with a 10.00% increase and a trading volume of 299,900 shares, resulting in a transaction value of 299 million yuan [1] - Other notable performers included Jinghua Laser (603607) with a 5.88% increase, Xianggang Technology (663499) with a 3.35% increase, and Aori Co. (002701) with a 2.19% increase [1] Capital Flow - The packaging and printing sector saw a net inflow of 80.2079 million yuan from institutional investors, while retail investors experienced a net outflow of 120 million yuan [2] - The main stocks with significant capital inflow included Zhongrui Co. with a net inflow of 119 million yuan, and Jinghua Laser with a net inflow of 44.5035 million yuan [3] - Conversely, retail investors showed a net outflow from several stocks, including Shunhao Co. (002565) with a net outflow of 81.7314 million yuan [3]

Core Viewpoint - The stock of Hexing Packaging has shown a positive trend with a year-to-date increase of 28.67%, despite a decrease in revenue for the first nine months of 2025 [1][2]. Group 1: Stock Performance - As of November 10, Hexing Packaging's stock price rose by 2.25% to 3.64 CNY per share, with a trading volume of 65.73 million CNY and a turnover rate of 1.51%, resulting in a total market capitalization of 4.42 billion CNY [1]. - The stock has experienced a net inflow of 2.91 million CNY from main funds, with significant buying and selling activities recorded [1]. - Over the past five trading days, the stock has increased by 4.30%, and over the past 20 days, it has risen by 8.66% [1]. Group 2: Financial Performance - For the period from January to September 2025, Hexing Packaging reported a revenue of 7.74 billion CNY, reflecting a year-on-year decrease of 9.84%, while the net profit attributable to shareholders increased by 10.52% to 160 million CNY [2]. - Cumulatively, the company has distributed 1.29 billion CNY in dividends since its A-share listing, with 488 million CNY distributed over the last three years [3]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders for Hexing Packaging increased by 4.61% to 25,400, while the average circulating shares per person decreased by 2.97% to 47,627 shares [2]. - Among the top ten circulating shareholders, a new shareholder, the China Merchants Quantitative Selected Stock Fund, holds 7.08 million shares, ranking as the ninth largest shareholder [3].

Core Viewpoint - Hexing Packaging (002228.SZ) has completed its fifth share repurchase plan, acquiring a total of 14,588,805 shares, which represents 1.20% of the company's total share capital [1] Summary by Sections Share Repurchase Details - The company repurchased shares through a centralized bidding transaction, with a maximum transaction price of 3.55 CNY per share and a minimum price of 3.20 CNY per share [1] - The total amount spent on the repurchase reached 50,433,875.70 CNY (excluding transaction fees) [1] - The repurchase amount has met the lower limit of the planned repurchase total of 50 million CNY and has not exceeded the upper limit of 100 million CNY [1] Compliance and Timeline - The repurchase adheres to relevant laws and regulations and aligns with the established repurchase plan [1] - The actual repurchase period was from August 12, 2025, to October 30, 2025 [1]

证券代码：002228 证券简称：合兴包装 公告编号：2025-112 号 厦门合兴包装印刷股份有限公司 关于回购公司股份实施完成暨股份变动的公告 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。 厦门合兴包装印刷股份有限公司（以下简称"公司"）于2025年5月16日召开 第七届董事会第五次会议，审议通过了《关于回购公司股份方案的议案》（以下 简称"第五期回购计划"），同意公司使用自有资金和/或自筹资金（含银行回购 专项贷款等）以集中竞价方式回购公司股份，回购的公司股份将用于实施员工持 股计划或股权激励计划。本次回购股份价格不超过人民币4.67元/股，回购资金总 额不低于人民币5,000万元（含）且不超过人民币10,000万元（含），回购股份期 限自董事会审议通过本次回购股份方案之日起12个月内。因公司实施2024年年度 权益分派，公司回购股份价格上限由4.67元/股（含）调整为4.50元/股（含）。具 体内容详见公司于2025年5月20日、2025年5月22日、2025年7月23日在《证券时报》 《证券日报》和巨潮资讯网（www.cninfo.com.cn）上 ...