厦门合兴包装印刷股份有限公司 2017 年第三季度报告正文 厦门合兴包装印刷股份有限公司 2017 年第三季度报告正文 1 厦门合兴包装印刷股份有限公司 2017 年第三季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人许晓光、主管会计工作负责人蔡丽容及会计机构负责人(会计主 管人员)蔡丽容声明：保证季度报告中财务报表的真实、准确、完整。 2 厦门合兴包装印刷股份有限公司 2017 年第三季度报告正文 证券代码：002228 证券简称：合兴包装 公告编号：2017-041 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末 | | --- | --- | --- | --- | --- | | | | | | 增减 | | 总资产（元） | 4,413,706,890.90 | | 3,706,508, ...

Financial Performance - The company's operating revenue for the first half of 2017 was ¥2,543,280,584.85, representing a 57.91% increase compared to ¥1,610,556,470.89 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was ¥71,071,654.02, up 39.51% from ¥50,943,429.84 in the previous year[17]. - The net profit after deducting non-recurring gains and losses was ¥70,761,568.87, a significant increase of 65.23% compared to ¥42,825,140.24 in the same period last year[17]. - The basic earnings per share increased to ¥0.07, reflecting a 40.00% growth from ¥0.05 in the previous year[17]. - The total profit amounted to ¥115,307,508.77, an increase of 49.23% compared to the previous year[29]. - The net profit attributable to shareholders reached ¥71,071,654.02, reflecting a growth of 39.51% year-on-year[29]. - The company reported a net loss of ¥1,740,000 from its investments in the reporting period[57]. - The company expects a net profit attributable to shareholders for the period from January to September 2017 to range between RMB 84 million and RMB 105 million, reflecting a year-on-year increase of 20% to 50%[87]. Assets and Liabilities - The total assets at the end of the reporting period were ¥4,039,941,885.19, which is a 9.00% increase from ¥3,706,508,267.04 at the end of the previous year[17]. - The net assets attributable to shareholders of the listed company were ¥1,651,765,947.11, showing a slight increase of 1.23% from ¥1,631,618,785.94 at the end of the previous year[17]. - The company's cash and cash equivalents decreased by ¥124,395,888.38, a decline of 207.47% compared to the previous period[36]. - The company's accounts receivable increased by 34.82% to ¥127,342.15 million, attributed to higher sales volume[25]. - The company's prepayments rose by 108.09% to ¥5,941.87 million, indicating increased operational commitments[25]. - Total liabilities reached CNY 2,266,469,981.97, compared to CNY 1,996,006,574.81, showing an increase of around 13.5%[186]. - Owner's equity totaled CNY 1,773,471,903.22, up from CNY 1,710,501,692.23, indicating a growth of approximately 3.7%[187]. Cash Flow - The net cash flow from operating activities was negative at -¥362,698,945.39, a decline of 478.54% compared to a positive cash flow of ¥95,815,070.15 in the same period last year[17]. - Cash inflow from operating activities totaled ¥1,658,862,499.37, compared to ¥1,136,767,928.57 in the previous period, showing an increase of approximately 46%[199]. - Cash outflow from operating activities was ¥2,021,561,444.76, up from ¥1,040,952,858.42, indicating a rise of about 94%[199]. Investment and Development - Research and development expenses increased by 114.38% to ¥37,000,810.58, indicating a significant investment in innovation[36]. - The company received approval for a non-public offering of up to 140 million shares to support new business developments[32]. - The total investment amount for the reporting period was ¥25,363,000, a decrease of 80.53% compared to ¥130,300,000 in the same period last year[55]. - The company established a new subsidiary, 合兴包装科技有限公司, with an investment of ¥510,000, holding a 51% stake, focusing on supply chain management[57]. - The company has ongoing non-equity investments, including a self-built project in the paper box packaging industry with an investment of ¥70,000,000, of which ¥47,575,900 has been utilized, representing 44.05% completion[60]. Market and Competition - The company faces risks such as rising raw material prices and market competition, which investors should be aware of[5]. - The company has implemented measures to reduce risks from rising raw material prices through centralized procurement strategies[84]. - The company has faced market competition risks due to the rapid development of the corrugated box packaging industry in China[85]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares[6]. - The actual controller of the company committed to maintaining a shareholding ratio of no less than 35% through Xinjiang Xinghui Equity Investment Management Partnership[94]. - The company has made commitments regarding non-competition and will not engage in any competing business within China, including Hong Kong, Macau, and Taiwan[93]. - The company has implemented an employee stock ownership plan with a total fundraising amount of 40 million RMB, resulting in the purchase of 4,457,961 shares at an average price of 25.00 RMB per share[101]. Risks and Compliance - The company has not engaged in any significant environmental protection issues during the reporting period[119]. - The company has not experienced any penalties or rectification situations during the reporting period[100]. - The company has not undergone any bankruptcy reorganization during the reporting period[97]. - The company has not engaged in any major related party transactions during the reporting period[103]. Future Outlook - The company has not provided any specific future performance guidance or outlook in the available content[92]. - The company has not disclosed any plans for new product development or technological advancements in the provided documents[92].

厦门合兴包装印刷股份有限公司 2017 年第一季度报告正文 证证券代码： 002228 证券简称：合兴包装 公告编号：2017-016 号 厦门合兴包装印刷股份有限公司 2017 年第一季度报告正文 1 厦门合兴包装印刷股份有限公司 2017 年第一季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人许晓光、主管会计工作负责人蔡丽容及会计机构负责人(会计主 管人员)蔡丽容声明：保证季度报告中财务报表的真实、准确、完整。 2 厦门合兴包装印刷股份有限公司 2017 年第一季度报告正文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否因会计政策变更及会计差错更正等追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期 | | --- | --- | --- | --- | | | | | 增减 | | 营业收入（元） | 1,148,308,663.25 | 766,1 ...

Financial Performance - The company's operating revenue for 2016 was CNY 3,542,373,078.49, representing a 24.19% increase compared to CNY 2,852,474,015.33 in 2015[14] - The net profit attributable to shareholders for 2016 was CNY 102,936,469.48, a decrease of 10.29% from CNY 114,738,657.09 in 2015[14] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 84,707,078.13, down 22.95% from CNY 109,939,714.87 in 2015[14] - The basic earnings per share for 2016 was CNY 0.10, a decrease of 9.09% compared to CNY 0.11 in 2015[14] - The total operating revenue for Q4 2016 reached CNY 1,062,628,576.49, with a year-on-year growth of approximately 22.5% compared to Q4 2015[20] - The company reported a significant increase in revenue from the cardboard segment, which rose by 72.63% to ¥767,649,569.37[50] - The company reported a total revenue of 1.2 billion RMB for the year 2016, representing a year-on-year increase of 15%[165] - The net profit attributable to shareholders was 150 million RMB, an increase of 10% compared to the previous year[165] Cash Flow and Investments - The net cash flow from operating activities increased by 144.07% to CNY 391,252,898.04 from CNY 160,305,341.76 in 2015[14] - The net cash flow from operating activities for Q4 2016 was CNY 170,531,569.63, showing a significant increase from CNY 44,032,072.30 in Q1 2016[20] - The company reported a 31.30% decrease in net cash flow from investing activities, totaling -¥179,854,351.90, attributed to asset disposals and acquisitions[75] - The net increase in cash and cash equivalents decreased by 86.00% to ¥18,222,140.35, reflecting significant changes in financing activities[75] - The company reported a total investment during the reporting period reached ¥250.40 million, a substantial increase of 254.93% compared to ¥70.55 million in the previous year[87] Assets and Liabilities - The total assets at the end of 2016 were CNY 3,706,508,267.04, reflecting a 24.25% increase from CNY 2,983,192,637.64 at the end of 2015[14] - The company's inventory increased by 34.41% to ¥414,090,999.04, aimed at better serving customer demands[55] - Cash and cash equivalents increased to ¥419.18 million, representing 11.31% of total assets, up from 10.76% in the previous year[79] - Accounts receivable rose to ¥944.51 million, accounting for 25.48% of total assets, an increase from 24.43% year-over-year[79] - Fixed assets amounted to ¥895.79 million, making up 24.17% of total assets, down from 29.20% due to transfers to construction in progress[79] Strategic Initiatives - The company has initiated a strategic upgrade, focusing on capacity integration, external mergers and acquisitions, and the development of a packaging industry supply chain cloud platform (PSCP) and intelligent packaging integrated services (IPS)[42] - The PSCP platform has over 100 cooperative clients, achieving a transaction volume exceeding ¥200 million by the end of 2016, indicating potential for new profit growth[44] - The company has completed the acquisition of International Paper's corrugated packaging business in China and Southeast Asia, enhancing its market position and resource integration[45] - The company is focusing on building a supply chain cloud platform for the packaging industry, with good progress in promoting the PSCP platform and expanding partnerships[108] Market Trends and Risks - The packaging industry is expected to maintain a certain growth rate despite a slowdown, with increasing market concentration and potential mergers and acquisitions among larger firms[28] - The company faces risks related to rising raw material prices and market competition, which investors should be aware of[3] - Rising raw material prices pose a significant risk, as they account for over 70% of the company's operating costs; the company plans to mitigate this through centralized procurement[116] - The company is experiencing market competition from regional players, but aims to strengthen its competitive position by deepening relationships with large clients[117] Shareholder and Dividend Information - The company plans to distribute a cash dividend of CNY 0.50 per 10 shares based on a total share capital of 1,042,972,330 shares as of December 31, 2016[3] - The cash dividend for 2016 represents 50.66% of the net profit attributable to shareholders, which was CNY 102,936,469.48[126] - The total distributable profit for 2016 is CNY 119,386,694.40, with cash dividends accounting for 100% of the profit distribution[127] - The company has maintained a consistent cash dividend policy over the past three years, with cash dividends of CNY 37,249,011.80 in both 2014 and 2015[124] Corporate Governance and Compliance - The company has not reported any unfulfilled commitments related to shareholding or asset restructuring during the reporting period[128] - The company has not issued a non-standard audit report for the reporting period[132] - The company is committed to transparency and compliance with regulatory requirements in its financial disclosures[162] - The company has actively engaged in investor relations activities to communicate its development strategy and value to both institutional and retail investors[48] Research and Development - The company has invested in research and development, establishing packaging technology innovation centers and achieving ISTA certification for its safety testing laboratory[35] - Research and development (R&D) investment increased by 35.52% to ¥40,669,918.71, with R&D expenditure as a percentage of operating income rising to 1.15%[72] - The company is developing a digital printing project aimed at capturing the personalized packaging market, with ongoing business expansion efforts[64] Subsidiary Developments - The company established 9 new subsidiaries and 3 new companies during the reporting period, expanding its consolidation scope[59] - The company has completed the necessary business registration procedures for multiple subsidiaries and has begun operations in some cases[188][191] - The company has initiated stock pledge repurchase transactions to optimize capital structure and enhance liquidity[170]

Financial Performance - Operating revenue for the period reached CNY 869,188,031.11, representing a year-on-year growth of 21.54%[8] - Net profit attributable to shareholders decreased by 29.19% to CNY 19,058,291.02 compared to the same period last year[8] - The net profit after deducting non-recurring gains and losses was CNY 18,856,682.82, down 25.06% year-on-year[8] - Basic earnings per share were CNY 0.02, a decrease of 33.33% compared to the same period last year[8] - The weighted average return on equity was 1.20%, down 26.38% from the previous year[8] - Investment income increased by 101.62% compared to the same period last year, attributed to returns from financial products[22] - The estimated net profit attributable to shareholders for 2016 is projected to be between 80.32 million and 114.74 million CNY, representing a decrease of 30% to 0% compared to the previous year's net profit of 114.74 million CNY[38] - The decline in profit margin is attributed to the impact of macroeconomic conditions and market competition, along with the ongoing investment phase of the Intelligent Packaging Integrated Service (IPS) and Packaging Supply Chain Cloud Platform (PSCP) businesses[38] Asset and Liability Changes - Total assets increased by 12.73% to CNY 3,362,966,834.42 compared to the end of the previous year[8] - Prepayments increased by 31.60% compared to the beginning of the period, mainly due to prepayments not reaching settlement conditions[17] - Available-for-sale financial assets increased by 91.94% compared to the beginning of the period, primarily due to investments in industrial funds during the reporting period[18] - Other non-current assets increased by 420.91% compared to the beginning of the period, mainly due to prepayments for acquiring 70% equity in Daqing Huayang and Baotou Huayang[18] - Accounts payable increased by 201.39% compared to the beginning of the period, driven by an increase in total procurement and corresponding supplier bill settlements[18] - Deferred income increased by 74.81% compared to the beginning of the period, mainly due to subsidies for equipment updates and the elimination of old equipment[20] Cash Flow - The company reported a significant increase in cash flow from operating activities, reaching CNY 220,721,328.41, up 459.09% year-to-date[8] - Net cash flow from operating activities increased by 459.09% compared to the same period last year, primarily due to sales growth and increases in operating receivables and payables[24] Shareholder Information - The total number of shareholders at the end of the reporting period was 37,052[12] - The largest shareholder, Xinjiang Xinghui Equity Investment Management Partnership, held 38.08% of the shares[12] - No repurchase agreements were conducted by the top 10 shareholders during the reporting period[14] - The company has committed to a stock repurchase plan with a minimum investment of 35 million CNY, ensuring that shares will not be sold for six months after the purchase[37] Corporate Actions - A new wholly-owned subsidiary, Shanghai Xiangxing Supply Chain Management Co., Ltd., was established with a registered capital of CNY 10 million to expand supply chain management services[28] - The company has initiated the closure and deregistration of its wholly-owned subsidiary Longhai Hexin Packaging Co., Ltd. to optimize capacity structure and promote industrial upgrading[31] Compliance and Governance - There are no violations regarding external guarantees during the reporting period[39] - The company does not have any non-operating fund occupation by controlling shareholders or their affiliates during the reporting period[40] Investor Relations - Xiamen Hexing Packaging and Printing Co., Ltd. reported its Q3 2016 financial results on October 27, 2016[41] - The company conducted multiple institutional research activities in July and September 2016, indicating strong investor interest[41] - The report includes links to detailed research documents, suggesting transparency and accessibility of information for stakeholders[41]

Financial Performance - The company's operating revenue for the first half of 2016 was approximately CNY 1.61 billion, representing a 16.07% increase compared to CNY 1.39 billion in the same period last year[20]. - The net profit attributable to shareholders decreased by 22.95% to approximately CNY 50.94 million, down from CNY 66.12 million in the previous year[20]. - The net profit after deducting non-recurring gains and losses was approximately CNY 42.83 million, a decline of 32.15% from CNY 63.12 million in the same period last year[20]. - The basic earnings per share decreased by 28.57% to CNY 0.05, down from CNY 0.07 in the same period last year[20]. - The diluted earnings per share also decreased by 28.57% to CNY 0.05, compared to CNY 0.07 in the previous year[20]. - The weighted average return on net assets was 3.20%, down from 5.35% in the previous year, reflecting a decrease of 2.15%[20]. - The company reported a net profit attributable to shareholders for the same period was 200 million RMB, up 15% compared to the previous year[112]. - The estimated net profit attributable to shareholders for the first three quarters of 2016 is projected to be between 65.12 million and 93.03 million CNY, representing a decrease of up to 30% compared to the same period in 2015[74]. Cash Flow and Assets - The net cash flow from operating activities increased by 60.43% to approximately CNY 95.82 million, compared to CNY 59.72 million in the previous year[20]. - The total assets of the company at the end of the reporting period were approximately CNY 3.23 billion, an increase of 8.17% from CNY 2.98 billion at the end of the previous year[20]. - The net assets attributable to shareholders increased by 0.87% to approximately CNY 1.58 billion, compared to CNY 1.57 billion at the end of the previous year[20]. - The total cash inflow from operating activities is CNY 1,136,767,928.57, compared to CNY 963,810,684.76 in the previous period, representing an increase of approximately 18%[192]. - The total cash outflow for operating activities was 670,802,648.80 CNY, a decrease of 7.7% compared to 727,161,511.90 CNY in the previous period[195]. - The company's total liabilities decreased to 1,610,799,911.08 CNY, reflecting a strategic focus on reducing debt levels[199]. Investments and Projects - The company initiated a non-public stock issuance to fund the development of its Intelligent Packaging Integrated Service (IPS) and Packaging Supply Chain Cloud Platform (PSCP) projects[28]. - The company completed the acquisition of International Paper's corrugated packaging business in China and Southeast Asia, enhancing its capacity and market presence[29]. - The IPS project has been launched, with agreements signed with several clients, indicating a shift towards a more integrated packaging service model[31]. - The PSCP project has also commenced, with over 100 users on the supply chain platform and transaction volume nearing CNY 100 million[31]. - The company made significant investments totaling ¥130,300,000.00 during the reporting period, a 482.22% increase from the previous year[51]. - The company is focusing on expanding its market presence and enhancing production capabilities through new projects[71]. - A strategic acquisition of a local competitor is in progress, which is projected to enhance the company's production capacity by 40%[114]. Research and Development - Research and development expenses rose by 7.64% to CNY 17,259,101.83, reflecting the company's commitment to innovation[37]. - The company is investing 100 million RMB in R&D for new printing technologies aimed at improving production efficiency by 30%[114]. - Research and development expenses increased by 25% to 200 million CNY, focusing on new packaging technologies[116]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[5]. - The company distributed a cash dividend of CNY 0.1 per share and a bonus issue of 18 shares for every 10 shares held[33]. - The company has approved a total guarantee amount of 12,500 million for subsidiaries during the reporting period, with an actual guarantee amount of 3,500 million[99]. - The company reported a commitment to maintain a controlling stake of no less than 35% in Xiamen Hexing Packaging, ensuring stability in management and operations[106]. - The company has completed a share buyback plan with a total investment of no less than 35 million yuan, which was executed between July 9, 2015, and October 10, 2016[107]. Compliance and Regulatory Matters - The half-year financial report for 2016 has not been audited, indicating a potential area for investor scrutiny[108]. - There were no penalties or rectifications reported during the reporting period, suggesting compliance with regulatory requirements[109]. - The company has no significant issues or changes regarding the use of raised funds during the reporting period[66]. Market Expansion and Customer Base - User data indicated a growth in customer base by 20%, reaching 1 million active users[113]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share by 2017[113]. - The company has launched two new product lines, which are projected to contribute an additional 100 million CNY in revenue by the end of 2016[116].

Financial Performance - The company's operating revenue for Q1 2016 was CNY 766,189,865.46, representing a 29.85% increase compared to CNY 590,038,931.34 in the same period last year[8] - Net profit attributable to shareholders was CNY 22,271,835.73, an increase of 11.76% from CNY 19,928,171.47 year-on-year[8] - The net cash flow from operating activities reached CNY 44,032,072.30, showing a significant increase of 99.04% compared to CNY 22,122,506.53 in the previous year[8] - The basic earnings per share remained stable at CNY 0.06, unchanged from the previous year[8] - The weighted average return on equity decreased to 1.41%, down by 0.45% from 1.86% in the same period last year[8] - The net profit attributable to shareholders for the first half of 2016 is expected to be between 66.12 million and 85.95 million RMB, representing a growth of 0% to 30% compared to the same period in 2015[32] - The company anticipates a positive net profit for the first half of 2016, indicating stable operational performance[32] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,997,350,775.21, a slight increase of 0.47% from CNY 2,983,192,637.64 at the end of the previous year[8] - The net assets attributable to shareholders amounted to CNY 1,590,402,261.77, reflecting a 1.42% increase from CNY 1,568,130,426.04 at the end of the last year[8] - Interest payable increased by 135.90% compared to the end of the previous year, mainly due to accrued interest on bonds that have not yet reached the payment period[18] - Deferred income increased by 85.61% compared to the end of the previous year, attributed to government subsidies received related to assets[18] - Asset impairment losses increased by 204.73% year-on-year, driven by a significant increase in accounts receivable[18] Shareholder Information - The total number of shareholders at the end of the reporting period was 33,857[12] - The largest shareholder, Xinjiang Xinghui Gathering Equity Investment Management Limited Partnership, held 38.08% of the shares, totaling 141,847,600 shares[12] - The company has committed to maintaining a shareholding ratio of no less than 35% by its actual controller during the bond duration[29] - The actual controller has pledged to ensure that the number of shares available for performance obligations will not be less than 70 million shares during the bond duration[30] - The actual controller's commitments regarding stock holdings are being fulfilled on time[31] Government Subsidies and Non-Recurring Gains - The company reported non-recurring gains of CNY 5,137,832.41, which included government subsidies and other income[9] - Operating income from non-operating activities increased by 782.46% year-on-year, primarily due to government financial subsidies received by a subsidiary[18] - Net cash flow from operating activities increased by 99.04% year-on-year, mainly due to increased tax refunds and government subsidies received[18] - Operating tax and additional charges increased by 30.33% year-on-year, reflecting a corresponding increase in tax fees due to sales growth[18] Business Expansion and Investments - The company established Henan Hexing Maiwei Packaging Co., Ltd. with an investment of RMB 10 million to engage in packaging materials design and sales[19] - The company also established Zhejiang Hexin Hengye Packaging Co., Ltd. with an investment of RMB 10 million to provide general commodity packaging services and supply chain management[20] - The company invested RMB 10 million to establish Xiamen Hexing Intelligent Integration Service Co., Ltd., focusing on integrated circuit design and supply chain management[21] - The company’s wholly-owned subsidiary, Xiamen Hexing Supply Chain Management Co., Ltd., also invested RMB 10 million to set up Xiamen Xinyangxiang Hexin Industrial Co., Ltd., which will operate in packaging services and supply chain management[22] - A total of RMB 10 million was invested to register Liaoning Baoshu Hexing Supply Chain Co., Ltd., which will focus on the sale of paper products and logistics services[23] - The company entered into a supply chain cooperation with Ningbo Jinding Packaging Co., Ltd., leading to the establishment of Ningbo Qixing Packaging Co., Ltd. with an investment of RMB 10 million[23] - Another RMB 10 million investment was made to register Guiyang Hexing Xingsheng Packaging Co., Ltd., which will engage in the design and sale of cardboard and packaging services[24] - The company announced plans to acquire International Paper's packaging business in mainland China and Southeast Asia, initially intended to be funded through a private placement, now to be executed via an investment merger fund[24] - The merger fund has signed a share transfer agreement with International Paper, indicating progress in the acquisition strategy[24] Compliance and Governance - There are no violations regarding external guarantees during the reporting period[33] - The company has not experienced any non-operating fund occupation by controlling shareholders or their affiliates during the reporting period[34] - The company is actively engaging with institutional investors through on-site research and communication activities[36] - The company is focused on expanding its business scope while ensuring compliance with competitive regulations[28] - The company reported a stable development across all business modules, with existing operations continuing to expand[32]

Financial Performance - The company's operating revenue for Q1 2016 was ¥766,189,865.46, representing a 29.85% increase compared to ¥590,038,931.34 in the same period last year[8]. - Net profit attributable to shareholders was ¥22,462,201.01, up 12.72% from ¥19,928,171.47 year-on-year[8]. - The net cash flow from operating activities increased by 99.04%, reaching ¥44,032,072.30 compared to ¥22,122,506.53 in the previous year[8]. - Total assets at the end of the reporting period were ¥2,997,786,375.13, a 0.49% increase from ¥2,983,192,637.64 at the end of the previous year[8]. - The net assets attributable to shareholders were ¥1,590,438,861.70, reflecting a 1.42% increase from ¥1,568,130,426.04[8]. - The basic earnings per share remained unchanged at ¥0.06, with diluted earnings per share also at ¥0.06[8]. - The weighted average return on net assets decreased to 1.42% from 1.86% in the previous year, a decline of 0.44%[8]. - The company reported non-recurring gains and losses totaling ¥5,137,832.41 for the reporting period[9]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 33,857[12]. - The largest shareholder, Xinjiang Xinghui Gathering Equity Investment Management Limited Partnership, held 38.08% of the shares, totaling 141,847,600 shares[12]. Asset and Liability Changes - The company's available-for-sale financial assets increased by 48.36% compared to the end of the previous year, primarily due to the establishment of Xiamen Bridge He Xing Equity Investment Partnership[18]. - Interest payable increased by 135.90% compared to the end of the previous year, mainly due to accrued interest on bonds that have not yet reached the payment period[18]. - Deferred income increased by 85.61% compared to the end of the previous year, attributed to government subsidies received related to assets[18]. - Operating tax and additional charges increased by 30.33% year-on-year, reflecting a corresponding increase in tax fees due to sales growth[18]. - Asset impairment losses increased by 204.73% year-on-year, driven by a significant increase in accounts receivable balance compared to the previous year[18]. - Financing activities generated a net cash flow decrease of 565.25% year-on-year, due to increased bank withdrawals compared to the same period last year[18]. New Business Initiatives - The company established Henan He Xing Mai Wei Packaging Co., Ltd. with an investment of RMB 10 million to engage in packaging material design and sales, which has begun operations[19]. - The company also established Zhejiang He Xin Heng Ye Packaging Co., Ltd. with an investment of RMB 10 million to provide general commodity packaging services, which has commenced operations[20]. - The company established Xiamen Hexing Intelligent Integration Service Co., Ltd. with an investment of RMB 10 million, focusing on integrated circuit design and various IT services[21]. - Xiamen Hexing Supply Chain Management Co., Ltd. invested RMB 10 million to set up Xinyangxiang Hexin Industrial Co., Ltd., which will operate in packaging services and supply chain management[22]. - The company registered Liaoning Baoshu Hexing Supply Chain Co., Ltd. with an investment of RMB 10 million, primarily engaged in the sale of paper products and logistics services[23]. - A partnership was formed with Ningbo Jinding Packaging Co., Ltd., leading to the establishment of Ningbo Qixing Packaging Co., Ltd. with an investment of RMB 10 million, focusing on packaging design and manufacturing[23]. - The company registered Guiyang Hexing Xingsheng Packaging Co., Ltd. with an investment of RMB 10 million, specializing in cardboard and packaging services[24]. - The company announced plans to acquire International Paper's packaging business in China and Southeast Asia, transitioning to an investment fund approach for the acquisition[24]. - The company completed the registration of multiple subsidiaries, enhancing its operational capabilities in supply chain management and packaging services[22][23][24]. Strategic Commitments - The company is committed to not engaging in any business that competes directly or indirectly with its own operations within China[26]. - The company has established a comprehensive strategy for market expansion through new partnerships and subsidiaries in the packaging sector[24]. - The company is actively pursuing investment opportunities and partnerships to strengthen its market position and operational efficiency[24]. Future Projections - The net profit attributable to shareholders for the first half of 2016 is expected to be between 66.12 million and 85.95 million RMB, representing a growth range of 0% to 30% compared to the same period in 2015[32]. - The company’s various business modules are operating steadily, with existing businesses continuing to expand[32]. Compliance and Governance - There are no violations of external guarantees during the reporting period[33]. - There are no non-operating fund occupations by controlling shareholders or their affiliates during the reporting period[34]. - The company has committed to maintaining at least 35% of its shares during the guarantee period[30]. - The guaranteed shares held by the guarantor must not be less than 70 million shares[30]. - The company plans to ensure the interests of all bondholders by fulfilling its guarantee responsibilities[30]. - The company’s stock repurchase commitment includes a minimum investment of 35 million RMB[30]. - The company has conducted multiple on-site research and communication activities during the reporting period[36]. - The company’s legal representative is Xu Xiaoguang[37].

Financial Performance - The company's operating revenue for 2015 was approximately ¥2.85 billion, representing a 5.01% increase compared to ¥2.72 billion in 2014[17]. - The net profit attributable to shareholders decreased by 8.62% to approximately ¥114.74 million from ¥125.56 million in the previous year[17]. - Basic earnings per share decreased by 11.11% to ¥0.32 from ¥0.36 in 2014[18]. - The gross margin for the reporting period was 19.72%, down by 0.94 percentage points from the previous year, mainly due to rising raw paper prices in Q4[42]. - The expected operating revenue for 2015 was CNY 10,200.00 million, while the actual revenue achieved was CNY 8,990.04 million, indicating a shortfall of approximately 12%[98]. - The expected net profit for 2015 was CNY 20 million, but the actual net profit was a loss of CNY 237.45 million, reflecting a significant deviation from projections[98]. Cash Flow and Investments - The net cash flow from operating activities dropped significantly by 49.89% to approximately ¥160.31 million, down from ¥319.89 million in 2014[17]. - The company's cash flow from operating activities turned positive in the fourth quarter, reaching approximately ¥120.83 million, after a negative cash flow in the third quarter[22]. - Total cash inflow from operating activities was 2,137,147,336.74, up 12.18% from the previous year[78]. - Total cash outflow from operating activities increased by 24.70% year-on-year to 1,976,841,994.98[78]. - The company reported a loss of CNY 320,947.66 from the acquisition of Shanghai Yunshen Network Technology Co., Ltd.[89]. - The company reported a loss of CNY 26,724.37 from the acquisition of Xiamen Weikang Smart IoT Technology Co., Ltd.[92]. Assets and Liabilities - The total assets of the company increased by 21.82% to approximately ¥2.98 billion, compared to ¥2.45 billion at the end of 2014[18]. - The net assets attributable to shareholders rose by 47.89% to approximately ¥1.57 billion from ¥1.06 billion in 2014[18]. - Accounts receivable increased by 24.43% year-on-year, amounting to 728,703,30[83]. - Fixed assets accounted for 29.20% of total assets, up from 27.98% the previous year, due to the transfer of construction projects and new acquisitions[84]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of ¥1 per 10 shares, with a capital reserve conversion of 18 shares for every 10 shares held[4]. - The cash dividend payout ratio for 2015 is 32.46% of the net profit attributable to ordinary shareholders, which is 114,738,657.09 CNY[128]. - The company has established a three-year shareholder return plan, approved in the board meeting on April 28, 2015[122]. - The minimum cash dividend ratio during the growth phase of the company is set at 20%[129]. Market and Industry Outlook - The packaging industry is expected to experience a slowdown in growth, but the company anticipates maintaining a certain growth rate due to rising consumer demands for quality packaging[35]. - The company faces risks related to rising raw material prices and market competition, which may impact future performance[4]. - The company is focusing on expanding its client base among large customers to stabilize revenue and enhance regional competitiveness[116]. Strategic Initiatives - The company is actively pursuing industry consolidation through mergers and acquisitions, having engaged in discussions with international packaging giants to enhance its market position[43]. - The company has initiated the development of an intelligent packaging integrated service (IPS) system, which is expected to be fully promoted across various industries starting this year[44]. - A packaging supply chain cloud platform (PSCP) is being developed to address industry challenges such as overcapacity and low operational efficiency, aiming to enhance resource integration[45]. - The company launched an O2O personalized customization service, successfully integrating online and offline operations to meet diverse customer needs[46]. Research and Development - The total R&D investment for 2015 was ¥30,009,236.89, which is 1.05% of operating revenue, down from 1.14% in 2014[75]. - The company has increased R&D investment, with over CNY 20 million spent in the last two financial years, to enhance packaging manufacturing and service automation levels[113]. Corporate Governance and Compliance - The company has maintained a good integrity status with no major lawsuits or penalties reported during the period[145][144]. - The company is committed to protecting the legitimate rights and interests of public investors through transparent decision-making processes[122]. - There were no changes in accounting policies or estimates compared to the previous year's financial report[138]. Subsidiaries and Acquisitions - The company established a new subsidiary, Kunshan Hexing Huiyu Packaging Co., Ltd., with a registered capital of CNY 4,000,000, holding an 80% stake[89]. - The company signed a share transfer agreement with International Paper for the acquisition of the packaging business[167]. - The company has established several subsidiaries during the reporting period, including Kunshan Hexing Huiyu Packaging Co., Ltd., with no significant impact on overall performance[104].

厦门合兴包装印刷股份有限公司 2015 年第三季度报告正文 证券代码：002228 证券简称：合兴包装 公告编号：2015-084 号 厦门合兴包装印刷股份有限公司 2015 年第三季度报告正文 1 厦门合兴包装印刷股份有限公司 2015 年第三季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人许晓光、主管会计工作负责人严希阔及会计机构负责人(会计主管人员)蔡丽 容声明：保证季度报告中财务报表的真实、准确、完整。 2 厦门合兴包装印刷股份有限公司 2015 年第三季度报告正文 第二节 主要财务数据及股东变化 一、主要会计数据和财务指标 公司是否因会计政策变更及会计差错更正等追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末 | | --- | --- | --- | --- | --- | | | | | | 增减 | | 总资产（元） | 2,909,633,5 ...