Industry Overview - The corrugated box industry is a significant part of the packaging sector, known for its protective performance, convenient processing characteristics, and environmental advantages, widely used in food, beverage, electronics, and logistics [1][16] - China's corrugated box production has shown fluctuations, with a decline from 34.44 million tons in 2021 to 28.63 million tons in 2023, primarily due to severe inventory backlog, slow market demand recovery, and insufficient end-user demand [1][16] - Despite an increase in express delivery volumes, policies promoting reduction, standardization, and recycling of packaging have hindered effective growth in express packaging [1][16] - Production is expected to grow by 2025 as market demand recovers [1][16] Industry Chain - The upstream of the corrugated packaging industry includes paper mills providing raw materials, with fluctuations in raw paper prices significantly impacting costs and profits for corrugated product manufacturers [8] - The midstream involves the manufacturing and packaging of corrugated paper products, while the downstream includes major application markets such as food, electronics, beverages, and express delivery [8] Market Size and Growth - In 2023, China's packaging market size reached 1,153.91 billion yuan, with the paper and board container segment accounting for 268.26 billion yuan, highlighting its importance in the packaging market [14] - The corrugated packaging industry is expected to benefit from the overall growth in the paper and board production sector, which is projected to reach 15.85 million tons in 2024, a year-on-year increase of 8.6% [10] Competitive Landscape - The industry is witnessing the emergence of large-scale enterprises with advanced production technologies and economies of scale, enhancing their market competitiveness [18] - Key players in the industry include Forest Packaging Group, Xiamen Hexing Packaging, Meiyingsen Group, Shanghai Xintonglian Packaging, and Shenzhen Yutong Packaging, which are expanding their market presence through strategic growth initiatives [18][19] Development Trends - The industry is moving towards green packaging, focusing on using recycled paper to reduce reliance on new wood and lower carbon emissions [23] - Smart technologies, including IoT and AI, are being integrated into corrugated packaging to enhance product tracking, anti-counterfeiting, and data collection, improving production efficiency [24] - There is a growing demand for personalized packaging solutions, driven by advancements in digital printing technology, allowing for customized designs and small-batch production [26]

Financial Performance - The company's revenue for Q1 2025 reached ¥970,617,958.26, representing a 15.28% increase compared to ¥841,979,114.32 in the same period last year[5]. - Net profit attributable to shareholders was ¥80,358,971.99, up 15.69% from ¥69,462,027.54 year-on-year[5]. - Basic earnings per share rose to ¥0.0525, reflecting a 15.64% increase from ¥0.0454 in the same period last year[5]. - Operating profit for the current period was ¥93,602,024.76, representing an increase of 13.4% from ¥82,663,457.54 in the previous period[17]. - Net profit attributable to the parent company was ¥80,358,971.99, a rise of 15.5% compared to ¥69,462,027.54 in the last period[18]. Cash Flow - The net cash flow from operating activities increased by 106.75%, amounting to ¥26,583,992.20 compared to ¥12,858,247.92 in the previous year[5]. - Cash generated from operating activities was ¥948,931,487.72, slightly down from ¥970,118,609.64 in the prior period, a decrease of 2.6%[19]. - The total cash inflow from financing activities amounted to $1,087,255,252.03, compared to $525,506,492.01 in the prior period, indicating a significant increase of about 106.7%[21]. - The cash inflow from operating activities was $995,823,544.79, slightly down from $1,010,205,410.81, indicating a decrease of about 1.5%[20]. - The company received $901,955,874.47 in cash from borrowings, which is an increase from $524,506,492.01, marking a growth of approximately 71.8%[21]. Assets and Liabilities - Total assets at the end of the reporting period were ¥7,478,331,143.08, a 4.72% increase from ¥7,141,004,339.32 at the end of the previous year[5]. - Total liabilities increased to ¥2,844,335,517.75, up from ¥2,584,074,981.11, reflecting a growth of 10.1%[14]. - Non-current liabilities totaled ¥548,513,777.08, an increase of 48.1% from ¥370,457,554.71 in the previous period[14]. - Total equity attributable to shareholders reached ¥4,569,846,492.84, compared to ¥4,493,166,457.04, marking an increase of 1.7%[14]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 51,409[10]. - The largest shareholder, Wang Haipeng, holds 31.43% of shares, totaling 481,362,936 shares, with 79,656,863 shares pledged[10]. Operational Metrics - Total operating revenue for the current period reached ¥970,617,958.26, an increase of 15.3% compared to ¥841,979,114.32 in the previous period[16]. - Total operating costs amounted to ¥884,507,287.06, up 14.5% from ¥772,203,298.48 in the prior period[16]. - The company reported a total of 3,598,240,060.77 in current assets, up from 3,264,273,839.17, indicating an increase of approximately 10.2%[13]. - Accounts receivable decreased to ¥1,152,026,178.30 from ¥1,204,563,929.25, a decline of about 4.3%[12]. Financial Expenses and Borrowings - The company's long-term borrowings increased significantly by 570.24%, reaching ¥17,965.83 million due to new long-term loans[8]. - Financial expenses rose by 129.76%, totaling ¥6,042.08 million, primarily due to decreased interest income[8]. - Short-term borrowings rose to ¥1,113,427,042.72 from ¥827,289,761.06, an increase of about 34.6%[13]. Other Information - The company has no other non-recurring profit and loss items that meet the definition of non-recurring profit and loss[6]. - The company has not disclosed any new product or technology developments in the current reporting period[11]. - There are no significant changes in the top 10 shareholders' participation in margin trading or securities lending activities[11]. - The company reported a decrease in other comprehensive income, with a net amount of -¥3,678,936.19 compared to -¥8,174,336.37 in the last period[18].

美盈森（002303）公告，2025年第一季度营收为9.71亿元，同比增长15.28%；净利润为8035.9万元，同 比增长15.69%。 ...

美盈森集团股份有限公司 内控审计报告 WUYIGE Certified Public Accountants.LLP Room 2206 22/F,Xueyuan International Tower No.1 Zhichun Road,Haidian Dist. Beijing,China,100083 大信审字[2025]第 5-00047 号 大信会计师事务所（特殊普通合伙） WUYIGE CERTIFIED PUBLIC ACCOUNTANTS LLP. 大信会计师事务所 北京市海淀区知春路 1 号 学院国际大厦 22 层 2206 邮编 100083 电话 Telephone：+86（10）82330558 传真 Fax： +86（10）82327668 网址 Internet： www.daxincpa.com.cn 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企业内部控制评价指引》的 规定，建立健全和有效实施内部控制，并评价其有效性是企业董事会的责任。 二、注册会计师的责任 我们的责任是在实施审计工作的基础上，对财务报告内部控制的有效性发表审计意见，并 对注意到的非财务报告内部控 ...

美盈森集团股份有限公司 控股股东及其他关联方占用 资金情况审核报告 大信专审字[2025]第 5-00039 号 大信会计师事务所（特殊普通合伙） WUYIGE CERTIFIED PUBLIC ACCOUNTANTS LLP. 控股股东及其他关联方占用资金情况审核报告 大信专审字[2025]第 5-00039 号 美盈森集团股份有限公司全体股东： 我们接受委托，审计了美盈森集团股份有限公司（以下简称"贵公司"）的财务报表， 包括 2024 年 12 月 31 日合并及母公司资产负债表、2024 年度合并及母公司利润表、股东 权益变动表、现金流量表以及财务报表附注，并于 2025 年 4 月 13 日出具大信审字[2025]第 5-00046 号审计报告。在对上述财务报表审计基础上，我们审核了贵公司编制的《上市公司 2024 年度非经营性资金占用及其他关联资金往来情况汇总表》（以下简称"非经营性资金占 用及其他关联资金往来情况汇总表"）。 一、管理层和治理层的责任 按照中国证券监督管理委员会等四部门联合发布的《上市公司监管指引第 8 号——上 市公司资金往来、对外担保的监管要求》的规定，编制非经营性资金占用及 ...

美盈森集团股份有限公司 2024 年度独立董事述职报告 （郭万达） 作为美盈森集团股份有限公司（以下简称"公司"）第六届董事会独立董事， 本人严格按照《中华人民共和国公司法》《上市公司独立董事管理办法》《深圳 证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》《独立董 事工作制度》等有关法律、法规的要求，谨慎、勤勉履职，有效发挥独立董事的 作用。现向董事会和股东大会提交年度述职报告，并对履行职责的情况进行说明， 请予审查。 一、基本情况 本人郭万达，1965 年生，中国国籍，经济学博士，研究员，无境外永久居 留权，1995 年起于综合开发研究院（中国·深圳）工作至今，现任综合开发研 究院（中国·深圳）副院长、公司独立董事。 作为公司的独立董事，经自查，本人符合《上市公司独立董事管理办法》《深 圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》等相关 法律法规中对独立董事独立性的相关要求，不存在影响独立性的情况。 二、独立董事年度履职概况 1、董事会、股东大会履职情况 2024 年度，公司共召开 6 次董事会，本人现场出席 4 次，以通讯方式出席 2 次，会前认真审阅了议案材料 ...

关于会计政策变更的公告 证券代码：002303 股票简称：美盈森 公告编号：2025-020 美盈森集团股份有限公司 关于会计政策变更的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 特别提示： 2024年12月6日，财政部发布《企业会计准则解释第18号》，规定对不属于 单项履约义务的保证类质量保证产生的预计负债进行会计核算时，应当按确定的 预计负债金额计入"主营业务成本"和"其他业务成本"等科目。该解释规定自 印发之日起施行，允许企业自发布年度提前执行。 公司自2024年1月1日起，开始执行变更后的会计政策。 （二）变更前公司采用的会计政策 变更前，公司执行财政部颁布的《企业会计准则——基本准则》和各项具体 会计准则、企业会计准则应用指南、企业会计准则解释公告及其他相关规定。 （三）变更后公司采用的会计政策 本次会计政策变更后，公司将执行《企业会计准则解释第18号》的内容要求。 1 关于会计政策变更的公告 除上述会计政策变更外，其余未变更部分仍执行财政部前期颁布的《企业会计准 则——基本准则》和各项具体会计准则、企业会计准则应用指南、企业会计准则 解释 ...

2024 年度履职情况评估及履行监督职责情况的报告 美盈森集团股份有限公司董事会审计委员会 对会计师事务所 2024 年度履职情况评估及履行监督 职责情况的报告 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司治理 准则》《国有企业、上市公司选聘会计师事务所管理办法》《深圳证券交易所上 市公司自律监管指引第 1 号——主板上市公司规范运作》和美盈森集团股份有限 公司（以下简称"公司"）的《公司章程》《董事会审计委员会议事规则》等规 定和要求，董事会审计委员会本着勤勉尽责的原则，恪尽职守，认真履职。现将 董事会审计委员会对会计师事务所 2024 年度履职评估及履行监督职责的情况汇 报如下： 一、2024 年年审会计师事务所基本情况 （一）会计师事务所基本情况 大信会计师事务所(特殊普通合伙)(以下简称"大信会计师事务所")始创于 1985 年，2012 年 3 月按照国家财政部等有关要求转制为特殊普通合伙制，注册 地址为北京市海淀区知春路 1 号 22 层 2206。首席合伙人为谢泽敏。截至 2024 年 12 月 31 日，大信会计师事务所合伙人 175 人，注册会计师 1,031 人。注册会 ...

关于举行 2024 年度网上业绩说明会的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 美盈森集团股份有限公司（以下简称"公司"）于 2025 年 4 月 15 日披露《2024 年年度报告》及其摘要。为便于广大投资者更深入、全面地了解公司发展战略、 生产经营等情况，公司定于 2025 年 4 月 28 日（周一）15:00-17:00 在深圳证券 交易所"互动易"平台举行 2024 年度业绩说明会。 本次年度业绩说明会将采用网络远程方式举行，投资者可登录"互动易"网 站（http://irm.cninfo.com.cn）进入"云访谈"栏目参与本次年度网上业绩说 明会。 出席本次年度网上业绩说明会的人员有：公司董事长兼总裁王治军先生、独 立董事刘纯斌先生、财务总监袁宏贵先生、副总裁兼董事会秘书刘会丰先生。 为充分尊重投资者、提升交流的针对性，现就本次年度网上业绩说明会提前 向投资者公开征集问题，广泛听取投资者的意见和建议。投资者可提前登录"互 动易"平台"云访谈"栏目进入公司 2024 年度网上业绩说明会页面进行提问， 公司将在本次业绩说明会上对投资者普 ...