证券代码：002303 证券简称：美盈森 美盈森集团股份有限公司 投资者关系活动记录表 编号：2025-22 | 投资者关系 | 特定对象调研 分析师会议 | | --- | --- | | 活动类别 □媒体采访 | 业绩说明会 | | | □新闻发布会 □路演活动 | | 现场参观 | 其他 | | 参与单位名 称及人员姓 | 1、宏利基金 吕佳文、孟杰、汪兰英、周少博 | | 名 | 2、中邮证券 赵洋、陆禹舟 | | 上市公司参 | 1、董事会秘书 刘会丰 | | 与人员 | 2、证券事务代表 闻敏 | | 时间 2025 | 年 月 日（周五） 12 12 | | 地点 美盈森大厦 | B 座 18 楼会议室 | | 形式 | 线下现场会议 1、公司海外业务未来盈利水平能否保持稳定？ | | | 答：由于当前海外一些区域对包装产品及服务要求较高的高 | | | 附加值客户较为集中且受益于海外市场竞争格局等因素，当前公 | | 交流内容及 | 司海外业务的盈利水平较国内业务总体要高一些。随着公司海外 | | 具体问答记 | 新产能的逐步投入使用，我们的目标是维持海外业务盈利水平的 | | 录 ...

Core Insights - The company, Meiyingsen Group Co., Ltd., held an online investor meeting on December 4, 2025, with participation from several investment institutions [1][2] Group 1: Business Development - The company aims to maintain steady growth in its domestic business for the upcoming year, indicating that there is significant room for improvement in current capacity utilization [3] - To address redundant capacity, the company plans to transfer some equipment to overseas markets and lease out vacant factory spaces to enhance asset utilization [3] Group 2: Overseas Expansion - The company is planning targeted capacity expansion based on downstream market demand, with some new overseas capacity already in the planning stages [4] - Meiyingsen emphasizes its competitive advantage in overseas markets due to early entry, combined with strengths in product R&D, service, and multi-regional presence [4] Group 3: Profitability and Cost Management - The company aims to maintain stable profit margins for both domestic and international operations, having improved overall profitability by focusing on high-value clients and reducing low-margin orders [5] - In response to raw material price fluctuations, the company will negotiate price adjustments with clients and incorporate material cost variations into new pricing [5] - The company is also addressing currency fluctuations by engaging with banks to mitigate impacts and may consider risk hedging in the future [5] Group 4: Talent and Shareholder Returns - The management structure of overseas factories consists mainly of personnel dispatched from domestic operations, while local recruitment is ongoing for production line staff [6] - The company currently employs cash incentives for talent management and has no stock incentive plans, with future arrangements to be announced [6] - Meiyingsen highlights cash dividends as a key method for shareholder returns and will continue to prioritize dividends, although specific amounts will depend on operational performance and financial conditions [6]

Group 1: Domestic Business Outlook - The company aims to maintain steady growth in its domestic business for the upcoming year [2] - Current domestic capacity utilization has significant room for improvement, with plans to relocate some equipment overseas and lease out vacant factory space to enhance asset utilization [2][3] Group 2: Overseas Operations - The company operates six factories in Vietnam, Thailand, Malaysia, and Mexico, all of which still have available capacity [3] - The company has a competitive advantage due to its early entry into overseas markets, along with strengths in product development, service, and multi-regional layout [4] Group 3: Profitability and Cost Management - The company has developed higher value-added clients and reduced low-margin orders, aiming to maintain profit margins at current levels despite growth in overseas business [5] - Raw materials are primarily sourced locally, and the company negotiates product prices with clients during significant raw material price fluctuations [5] Group 4: Currency and Risk Management - Currency fluctuations have had a notable impact on the company's Q3 performance, with ongoing monitoring and potential hedging strategies being considered to mitigate risks [5] - The company holds a certain amount of foreign currency and engages in discussions with banks to manage exchange rate impacts effectively [5] Group 5: Human Resources and Incentives - Management and technical personnel are mainly expatriates, while production line workers are primarily recruited locally, with ongoing training for local management [6] - Currently, the company relies on cash incentives for talent retention and does not have a stock incentive plan in place [6] Group 6: Dividend Policy - Cash dividends are emphasized as a key method for returning value to shareholders, with future dividend amounts and ratios to be determined based on operational performance and capital expenditures [6]

Group 1 - The report emphasizes the trend of globalization in supply chains, indicating that Chinese companies are entering a new phase of overseas operations, leading to intensified competition and accelerated market share concentration [5][26][60] - The report highlights the advantages of Chinese design and R&D capabilities combined with global supply chain layouts, enabling some companies to transition towards brand exports [6][60] - There are structural investment opportunities in domestic retail, particularly in new AI hardware growth sectors and high-margin emotional consumption products, such as pet products and domestic brands [7][60] Group 2 - The packaging industry is experiencing a global supply chain shift, with leading companies enhancing their market share by aligning with downstream customer trends [7][12] - The report notes that the paper packaging sector has seen a decline in scale and profitability since 2021, but companies like Yutong Technology are maintaining their competitive edge and market share [13][22][23] - The report discusses the expected recovery in the metal packaging industry, driven by policy changes and industry consolidation, which may enhance profitability [8][53][56] Group 3 - The home furnishing sector is positioned at a valuation bottom with high dividend safety, as the real estate market stabilizes and demand for second-hand and replacement housing increases [8][12] - The report identifies opportunities for business expansion and mergers and acquisitions as companies seek to establish new growth trajectories [9][12] - The report highlights the importance of self-owned brands in the home furnishing sector, which have been increasingly developed since 2018 due to trade tensions [7][12]

Group 1: Overseas Business Overview - The main overseas clients of the company are in the consumer electronics, furniture, and home appliance industries [2] - The company has six factories in Vietnam, Thailand, Malaysia, and Mexico, with additional capacity available for expansion based on market demand [2] - The expansion of overseas capacity is primarily achieved through leasing factories and reallocating existing domestic equipment, keeping capital expenditures manageable [3] Group 2: Competitive Landscape and Profitability - The competitive landscape for overseas business is currently stable, with the company benefiting from early market entry and advantages in product R&D, service, and multi-regional layout [3] - The company aims to maintain its profit margins next year by focusing on higher-value clients and reducing low-margin orders, with overall profitability expected to improve due to growth in overseas business [3] Group 3: Risk Management Strategies - The company negotiates product prices with clients during significant fluctuations in raw material costs and considers these factors in new pricing [3] - Currency fluctuations impact the company's foreign exchange gains and losses, and the company is exploring risk hedging strategies to mitigate these effects [3] Group 4: Financial Obligations and Shareholder Returns - The major shareholder has reached a settlement with Zhejiang Commercial Bank regarding a financial dispute, with all payments due in 2025 already made and 2026 payments on track [4] - The company emphasizes cash dividends as a key method of returning value to shareholders and plans to disclose a minimum dividend ratio based on operational and financial conditions [4]

证券日报网讯 11月26日晚间，美盈森发布公告称，公司不存在逾期担保及涉及诉讼的担保。 （文章来源：证券日报） ...

关于为子公司提供担保的进展公告 证券代码：002303 股票简称：美盈森 公告编号：2025-044 美盈森集团股份有限公司 关于为子公司提供担保的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、担保情况概述 美盈森集团股份有限公司（以下简称"公司"）于 2025 年 4 月 13 日召开的 第六届董事会第十一次会议及 2025 年 5 月 8 日召开的 2024 年度股东大会分别审 议通过了《关于为子公司提供担保的议案》，同意公司为公司下属全资或控股子 公司东莞市美盈森环保科技有限公司（以下简称"东莞美盈森"）、苏州美盈森 环保科技有限公司、重庆市美盈森环保包装工程有限公司、成都市美盈森环保科 技有限公司、东莞市美芯龙物联网科技有限公司（以下简称"东莞美芯龙"）、 安徽美盈森智谷科技有限公司、长沙美盈森智谷科技有限公司、美盈森（香港） 国际控股有限公司、佛山市美盈森绿谷科技有限公司（以下简称"佛山美盈森"）、 贵州省习水县美盈森科技有限公司、涟水美盈森智谷科技有限公司、福建美盈森 环保科技有限公司、东莞丰华智造科技有限公司、东莞市美之兰环保科技 ...

（文章来源：证券日报） 证券日报网讯 11月24日晚间，美盈森发布公告称，公司于2025年11月21日14：00起，在公司培训室召 开了公司职工代表大会，41名职工代表参加了此次会议。经全体与会职工代表表决，一致同意刘兰芳女 士为公司第七届董事会职工董事。 ...

证券日报网讯 11月24日晚间，美盈森发布公告称，美盈森集团股份有限公司（以下简称"公司"）第六 届董事会将于2026年5月30日任期届满，因独立董事郭万达先生、刘纯斌先生将于2025年11月24日连续 担任公司独立董事届满六年，为确保董事会规范运作，根据有关规定，公司决定按照相关法律程序提前 进行董事会换届选举工作。经公司第六届董事会第十五次（临时）会议审议，董事会同意提名王治军先 生、郭瑞林先生为公司第七届董事会非独立董事候选人；提名谭伟先生、吴吉林先生为公司第七届董事 会独立董事候选人。 （文章来源：证券日报） ...

美盈森集团股份有限公司 英文全称：MYS GROUP CO., LTD. 章 程 （2025 年 11 月修订） | 第一章 | 总则 2 | | | --- | --- | --- | | 第二章 | 经营宗旨和范围 | 3 | | 第三章 | 股份 3 | | | 第一节 | 股份发行 3 | | | 第二节 | 股份增减和回购 | 5 | | 第三节 | 股份转让 6 | | | 第四章 | 股东和股东会 7 | | | 第一节 | 股东 7 | | | 第二节 | 控股股东和实际控制人 | 9 | | 第三节 | 股东会的一般规定 | 10 | | 第四节 | 股东会的召集 | 12 | | 第五节 | 股东会的提案与通知 | 13 | | 第六节 | 股东会的召开 | 14 | | 第七节 | 股东会的表决和决议 | 17 | | 第五章 | 董事会 20 | | | 第一节 | 董事 20 | | | 第二节 | 独立董事 | 23 | | 第三节 | 董事会 25 | | | 第四节 | 董事会专门委员会 | 29 | | 第六章 | 总裁及其他高级管理人员 | 31 | | 第七章 | 财务会 ...