证券代码：002228 证券简称：合兴包装 公告编号：2025-122 号 厦门合兴包装印刷股份有限公司 关于变更签字会计师的公告 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 4 月 25 日 召开第七届董事会第四次会议、第七届监事会第三次会议、2025 年 6 月 6 日召 开 2024 年年度股东大会，审议通过了《关于续聘立信会计师事务所（特殊普通 合伙）为公司 2025 年度审计机构的议案》，同意聘任立信会计师事务所（特殊 普通合伙）（以下简称"立信"）为公司 2025 年度审计机构，聘期一年。具体 内容详见公司 2025 年 4 月 26 日披露的《关于续聘 2025 年度审计机构的公告》 （公告编号：2025-042）。 一、签字会计师变更情况说明 公司于近日收到立信出具的《关于变更签字合伙人的函》，立信作为公司 2025 年度的审计机构，原指派李福兴、李小欣为签字合伙人和签字注册会计师， 丁彭凯为质量控制复核人，为公司提供审计服务。因立信内部调整，现指派冯 万奇接替李福兴作为公司 ...

Market Overview - The packaging and printing sector experienced a decline of 0.86% on November 26, with HeXing Packaging leading the drop [1] - The Shanghai Composite Index closed at 3864.18, down 0.15%, while the Shenzhen Component Index rose to 12907.83, up 1.02% [1] Stock Performance - Jinfu Technology saw a significant increase of 9.99%, closing at 16.95, with a trading volume of 290,400 shares and a turnover of 478 million [1] - Kangxin New Material rose by 4.95%, closing at 2.97, with a trading volume of 863,100 shares and a turnover of 260 million [1] - HeXing Packaging experienced the largest decline of 5.57%, closing at 4.24, with a trading volume of 1,845,600 shares and a turnover of 785 million [2] Capital Flow - The packaging and printing sector saw a net outflow of 397 million from institutional investors, while retail investors contributed a net inflow of 294 million [2][3] - The sector's overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors increased their positions [2][3] Individual Stock Capital Flow - Kangxin New Material had a net inflow of 40.43 million from institutional investors, but saw a net outflow of 3.34 million from retail investors [3] - Jiyou Co. experienced a net inflow of 11.65 million from institutional investors, with retail investors also withdrawing 469,440 [3] - Jinfu Technology had a minor net inflow of 3.09 million from institutional investors, while retail investors saw a small outflow [3]

Core Insights - The digital watermark concept has seen a rise of 3.89%, ranking 10th among concept sectors, with 29 stocks increasing in value, including notable gainers such as Nanwei Software, Hexing Packaging, and ST Zhengtong, which hit the daily limit up [1][2]. Market Performance - The top-performing concept sectors today include: - China Shipbuilding System: +6.63% - Hainan Free Trade Zone: -2.19% - Xiaohongshu Concept: +4.76% - Salt Lake Lithium Extraction: -1.40% - Military Information Technology: +4.63% - Phosphate Chemical: -0.88% - Terahertz: +4.47% - Free Trade Port: -0.50% - Kuaishou Concept: +4.14% - Web 3.0: +3.89% - Digital Watermark: +3.89% [2]. Capital Flow - The digital watermark sector attracted a net inflow of 185 million yuan, with 17 stocks receiving net inflows, and 10 stocks exceeding 10 million yuan in net inflow. The leading stock in net inflow is Nanwei Software, with 281 million yuan, followed by Hexing Packaging and Hengxin Oriental with 156 million yuan and 37.44 million yuan, respectively [2][3]. Stock Performance - Key stocks in the digital watermark sector include: - Nanwei Software: +9.98%, turnover rate 12.90%, net inflow 281.27 million yuan, net inflow rate 27.20% - Hexing Packaging: +9.93%, turnover rate 13.78%, net inflow 155.77 million yuan, net inflow rate 22.40% - Hengxin Oriental: +8.33%, turnover rate 11.51%, net inflow 37.44 million yuan, net inflow rate 9.29% - Xinghuan Technology: +5.32%, turnover rate 9.59%, net inflow 25.65 million yuan, net inflow rate 4.19% - Haitan Ruisheng: +7.45%, turnover rate 5.57%, net inflow 24.61 million yuan, net inflow rate 6.87% [3][4].

AI and Technology - Google has released a new image model, attracting attention in the AI sector [2] - 360, a leader in AI search, has developed the 360 Smart Brain with ten core capabilities and hundreds of detailed functions, reporting a net loss of 120 million in Q3, narrowing from mid-year losses [2] - Jiuxi Software has launched its new generation large model application management platform, Nvwa GPT, which integrates and provides capabilities for large model management and intelligent orchestration [2] Aerospace and Defense - Japan has announced the deployment of missiles in sensitive areas, impacting defense-related companies [2] - Aerospace Power, a subsidiary of the Aerospace Science and Technology Group, has seen stock performance with a recent increase [2] - China Shipbuilding Industry Group, which controls multiple defense-related companies, is the only military ship production base in South China [2] E-commerce and Retail - Alibaba's "Qianwen" app has surpassed 10 million downloads in its first week of public testing [3] - Sanjiang Shopping, the largest local supermarket chain in Zhejiang, has Alibaba as its second-largest shareholder and is involved in the sale of prepared dishes [3] - DataPort, a leading data center company, provides infrastructure solutions and serves major internet companies like Alibaba, Tencent, Baidu, and NetEase [3] Real Estate - Multiple regions have issued notifications to promote the stable and healthy development of the real estate market [5] - Everbright Jiabao, a real estate development company under Everbright Group, focuses on non-performing asset management in Zhejiang [5] Automotive - GAC Group has officially launched its all-solid-state battery pilot production line [5] - Jinlong Automobile, a major bus manufacturer, has partnered with Baidu to produce China's first commercial-grade autonomous micro-circulation vehicle [5] Renewable Energy - Guosheng Technology, a top global manufacturer of heterojunction products, is focusing on high-efficiency solar cells and has plans for a solid-state battery project [6] - Hemei Group's subsidiary is investing in a green hydrogen project with an estimated total investment of around 700 million [6] Food and Beverage - Xinhua Du, a leading e-commerce platform for liquor, has seen stock performance with a recent increase [4] - Hasi Lian, a beauty brand, is focusing on skincare products and has developed a series of medical-grade dressings [5]

Core Viewpoint - The A-share market shows mixed performance with the Shanghai Composite Index at 3842.22 points, slightly below the five-day moving average, indicating a modest increase of 0.19% [1] Group 1: Market Overview - The total trading volume of A-shares reached 13759.48 billion yuan [1] - A total of 725 A-shares have surpassed the five-day moving average today [1] Group 2: Stocks with Significant Deviation - The stocks with the largest deviation from the five-day moving average include: - Jin Cheng Zi (金橙子) with a deviation rate of 13.07%, closing at 34.84 yuan after a 20.01% increase [1] - Zhao Biao Gu Fen (招标股份) with a deviation rate of 12.88%, closing at 16.32 yuan after a 20.00% increase [1] - Hang Tian Huan Yu (航天环宇) with a deviation rate of 11.54%, closing at 29.77 yuan after a 19.99% increase [1] Group 3: Other Notable Stocks - Other notable stocks with significant performance include: - Tie Tuo Ji Xie (铁拓机械) with a 13.21% increase and a deviation rate of 10.44% [1] - Zhuo Yi Xin Xi (卓易信息) with a 14.59% increase and a deviation rate of 10.37% [1] - He Xing Bao Zhang (合兴包装) with a 9.93% increase and a deviation rate of 8.00% [1]

Core Points - The stock price of Hexing Packaging increased by 7.69% to 4.34 CNY per share, with a trading volume of 368 million CNY and a turnover rate of 7.56%, resulting in a total market capitalization of 5.266 billion CNY [1] Company Overview - Hexing Packaging, established on May 17, 1993, and listed on May 8, 2008, is located in Xiamen, Fujian Province. The company specializes in the research, design, production, sales, and service of mid-to-high-end corrugated cartons [1] - The revenue composition of Hexing Packaging includes: - Corrugated packaging: 88.38% - Color box packaging: 4.50% - Others: 3.24% - Industrial paper: 2.80% - Cushion 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), entered the top ten in the third quarter, holding 7.0759 million shares, which is 0.59% of the circulating shares. The estimated floating profit today is approximately 2.1935 million CNY [2] - The China Merchants Quantitative Selected Stock A fund was established on March 15, 2016, with a latest scale of 3.663 billion CNY. Year-to-date returns are 29.55%, ranking 1081 out of 4208 in its category; the one-year return is 29.11%, ranking 858 out of 3981; and since inception, the return is 247.72% [2]

Core Viewpoint - The announcement from Hexing Packaging indicates a change in shareholding structure due to a reduction in the stake of a major shareholder, Xia Ping, and his concerted parties, resulting in them no longer being classified as a shareholder with over 5% ownership [2]. Summary by Relevant Sections - **Shareholding Changes** - Xia Ping and his concerted parties have reduced their total shareholding to 60,669,277 shares, which constitutes 4.9999996% of the company's total share capital [2]. - After excluding repurchased shares, their stake represents 5.2255% of the adjusted total share capital [2]. - **Regulatory Compliance** - The changes in shareholding were reported in a simplified equity change report, indicating compliance with regulatory requirements regarding significant shareholding changes [2]. - **Impact on Company Status** - With the reduction in shareholding, Xia Ping and his concerted parties are no longer classified as shareholders holding more than 5% of the company, which may affect their influence on corporate governance and decision-making [2].

Group 1 - The core viewpoint of the article highlights that Hexing Packaging (SZ 002228) has engaged in investor research, indicating active communication with stakeholders [1] - For the first half of 2025, Hexing Packaging reported that its revenue composition is entirely from the packaging manufacturing industry, with a 100.0% share [1] - As of the report date, Hexing Packaging has a market capitalization of 4.9 billion yuan [1]

Group 1: Product and Market Strategy - The company aims to improve product gross margin by optimizing product structure and increasing the sales proportion of high-margin products [2] - Downstream customer composition includes: Home appliances (22%), Beer (15%), Dairy (14%), Food (11%), Daily chemicals (4%), E-commerce logistics (4%), Others (30%) [3] - The company focuses on Southeast Asia for overseas business, with capacity expansion planned in Thailand, Vietnam, and Indonesia [3] Group 2: Competitive Advantages and Innovations - The company leverages clear capacity demands from clients to avoid blind expansion, providing group services that meet global collaboration needs [4] - Domestic smart factory operational experience can be replicated quickly, enhancing efficiency and cost control compared to local competitors [4] - The company is committed to sustainable development by innovating eco-friendly materials and accelerating smart manufacturing processes [8] Group 3: Financial Performance and Shareholder Returns - The company has a strong focus on shareholder returns, with future dividend plans considering operational performance, financial status, and capital expenditure needs [5][6] - The impact of rising raw material prices is managed through timely adjustments in procurement and production strategies to mitigate cost fluctuations [7] Group 4: Future Goals and Industry Trends - The company aims to align with industry trends towards green, intelligent, and intensive development, while expanding overseas markets and enhancing internal operations [8][10] - Future goals include stabilizing domestic operations and achieving rapid growth in overseas business, guided by market demand and strategic planning [10]

Core Viewpoint - Hexion Packaging (002228.SZ) reported a change in shareholding structure due to a passive change in shareholding ratio and share reduction actions by major shareholder Xia Ping and his concerted parties, resulting in a decrease in their stake below 5% [1] Summary by Categories Shareholding Changes - Xia Ping and his concerted parties' total shareholding has changed to 60.6693 million shares, representing 4.9999996% of the company's total share capital [1] - After excluding repurchased shares, their stake accounts for 5.2255% of the total share capital [1] - This change means that Xia Ping and his concerted parties are no longer classified as shareholders holding more than 5% of the company [1]