Core Viewpoint - After four consecutive years of declining performance, Zhongshun Jierou (002511.SZ) is expected to return to growth in the first half of 2025, with a projected net profit of 140 million to 160 million yuan, representing a year-on-year increase of 59.85% to 82.68% [2][8]. Company Overview - Zhongshun Jierou was founded by Deng Yingzhong, who transformed the company from a small workshop into a leading enterprise in the consumer paper industry [2]. - In 2021, Deng initiated a de-familization strategy, transferring management to a professional team led by Liu Peng, who became the chairman [2][6]. Financial Performance - The company faced significant profit declines due to rising raw material prices over the past four years, with net profits dropping from 3.49 billion yuan in 2017 to 771.8 million yuan in 2024 [7][8]. - The anticipated recovery in 2025 is attributed to a decrease in raw material prices and improved management efficiency, with a projected revenue increase [8]. Strategic Initiatives - Liu Peng attempted to diversify the business by entering personal care sectors, but this strategy has not yielded significant results, with over 90% of revenue still coming from the main consumer paper business [9]. - The company has faced challenges with product quality and service, as evidenced by over 600 complaints on platforms like Black Cat Complaints [10]. Leadership Changes - Deng Yingzhong's sons were appointed as vice chairmen in 2024, indicating a potential shift back towards family involvement in management [10]. Future Challenges - The company must navigate intense competition and address the ongoing challenges posed by raw material price fluctuations to ensure sustainable growth [11].

Group 1 - The article discusses the recent market performance, indicating that the Shanghai Composite Index has stabilized around 3500 points, driven by policy expectations and potential government stimulus measures [1][2] - Analysts from Citigroup predict that the upcoming Politburo meeting will not revise the budget or increase government bond quotas, but will focus on implementing existing policies to support consumption and the real estate sector [1][2] - The article highlights that the real estate market has shown signs of recovery, with a potential for further gains in the coming weeks, based on historical trends of policy-driven market movements [3][5] Group 2 - The banking sector is expected to see an increase in dividend yields due to upcoming dividend distributions, which could enhance the attractiveness of bank stocks [7] - The article notes that the insurance sector is adjusting its investment strategies to favor high-dividend assets, which may impact the overall market dynamics [7] - The article mentions that the real estate index has risen by 9.69% since June 23, indicating a positive trend relative to the Shanghai Composite Index [3][5] Group 3 - The article outlines the upcoming key events in the financial calendar, including the Politburo meeting and FOMC meetings, which are expected to influence market sentiment and policy direction [2] - It emphasizes the importance of monitoring economic indicators and policy announcements as they could significantly impact market performance in the second half of the year [2][10] - The article suggests that sectors such as renewable energy, construction materials, and industrial metals are likely to benefit from current market trends and policy support [15][18]

Group 1 - Yuntian Lifa plans to issue H-shares and list on the Hong Kong Stock Exchange [3] - Aerospace Electromechanical's wholly-owned subsidiary intends to transfer 70% equity of Eschong Korea [4] - Three Gorges Water Conservancy plans to publicly transfer 41.0071% equity of Chongqing Tiantai Energy Group [5] Group 2 - Galaxy Microelectronics intends to invest 310 million yuan in the construction of a high-end integrated circuit device industrialization base [6] - Wanye Enterprises' wholly-owned subsidiary plans to invest 299 million yuan to establish a private equity investment fund [7] - Dailor New Materials will invest 45 million yuan to establish a holding subsidiary [8] Group 3 - Huaxi Securities expects a net profit increase of 1025.19% to 1353.9% year-on-year for the first half of 2025 [10][11] - Guolian Minsheng anticipates a net profit increase of approximately 1183% year-on-year for the first half of 2025 [12] - Gaode Infrared expects a net profit increase of 734.73% to 957.33% year-on-year for the first half of 2025 [13] Group 4 - Tianchen Co. expects a net profit increase of 640% to 786% year-on-year for the first half of 2025 [14] - Shenkai Co. anticipates a net profit increase of 183% to 278% year-on-year for the first half of 2025 [15] - Taishan Petroleum expects a net profit increase of 123% to 173% year-on-year for the first half of 2025 [16] Group 5 - Ruikeda expects a net profit increase of 132.44% to 163.22% year-on-year for the first half of 2025 [17] - Jinkong Electric anticipates a net profit of 120 million to 150 million yuan, turning from loss to profit [18] - Ankai Bus expects a net profit increase of 106.67% to 189.34% year-on-year for the first half of 2025 [19] Group 6 - Yara International expects a net profit increase of 170% to 244% year-on-year for the first half of 2025 [20] - Zhongshun Jierou anticipates a net profit increase of 59.85% to 82.68% year-on-year for the first half of 2025 [21] - Guoan Co. expects a loss of 25.9 million to 36.7 million yuan for the first half of 2025 [22] Group 7 - Huamei Holdings expects a loss of 46.5 million to 60 million yuan for the first half of 2025 [23] - AOC Technology anticipates a loss of 450 million to 490 million yuan for the first half of 2025 [24] - Shangrong Medical expects a loss of 7 million to 9.5 million yuan for the first half of 2025 [25] Group 8 - Hangang Co. expects a net loss of approximately 111 million yuan for the first half of 2025 [26] - Baili Electric's shareholder plans to reduce its stake by no more than 2% [27] - Dream Lily's major shareholder plans to reduce its stake by no more than 0.5% [28]

Performance Forecast - The company expects a net profit of 140 million to 160 million yuan, representing an increase of 59.85% to 82.68% compared to the same period last year, which was 87.58 million yuan [1] - The net profit after deducting non-recurring gains and losses is projected to be between 135 million and 155 million yuan, showing an increase of 95.95% to 124.98% from last year's 68.89 million yuan [1] - Basic earnings per share are estimated to be between 0.09 yuan and 0.13 yuan, compared to 0.07 yuan per share last year [1] Communication with Auditors - The financial data related to this performance forecast has not been audited by the accounting firm, but the company has communicated with the auditors regarding the performance forecast, and there are no significant disagreements [1] Reasons for Performance Change - The increase in operating income year-on-year, along with the decline in raw material prices and improved management efficiency, has significantly enhanced the company's profitability, leading to a year-on-year increase in net profit attributable to shareholders [1]

Core Viewpoint - The company Zhongshun Jierou (002511) expects a significant increase in net profit for the first half of 2025, indicating strong financial performance compared to the previous year [1] Financial Performance - The net profit attributable to shareholders is projected to be between 140 million yuan and 160 million yuan, representing an increase of 59.85% to 82.68% compared to the same period last year, which was 87.5826 million yuan [1] - The net profit after deducting non-recurring gains and losses is expected to be between 135 million yuan and 155 million yuan, showing a rise of 95.95% to 124.98% from the previous year's figure of 68.8963 million yuan [1] - The basic earnings per share are anticipated to be between 0.09 yuan and 0.13 yuan, compared to 0.07 yuan in the same period last year [1]

证券代码：002511 证券简称：中顺洁柔 公告编号：2025-37 中顺洁柔纸业股份有限公司 2025 年半年度业绩预告 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。 2、预计的经营业绩： ☑预计净利润为正值且属于下列情形之一： □扭亏为盈 ☑同向上升 □同向下降 | 项 目 | 本报告期 | 上年同期 | | | --- | --- | --- | --- | | 归属于上市公 司股东的净利 | 盈利：14,000.00 万元–16,000.00 万元 | 盈利：8,758.26 | 万元 | | 润 | 比上年同期上升：59.85%-82.68% | | | | 扣除非经常性 损益后的净利 | 盈利：13,500.00 万元–15,500.00 万元 | 盈利：6,889.63 | 万元 | | 润 | 比上年同期上升：95.95%-124.98% | | | | 基本每股收益 | 盈利：0.09 元/股–0.13 元/股 | 盈利：0.07 | 元/股 | 二、与会计师事务所沟通情况 本次业绩预告相关财务数据未经会计师事务所审计，但公司就业绩预告有关 ...

中顺洁柔纸业股份有限公司第四期员工持股计划管理办法 中顺洁柔纸业股份有限公司 第四期员工持股计划管理办法 第三条 员工持股计划的有关机构 本员工持股计划的内部最高管理权力机构为持有人会议。本员工持股计划设管理 委员会，授权管理委员会负责本员工持股计划的日常管理，代表持有人行使股东权利 或者授权管理机构行使股东权利，维护本员工持股计划持有人的合法权益，确保本员 工持股计划的资产安全，避免公司其他股东与本员工持股计划持有人之间产生潜在的 利益冲突。 第一章 总则 第一条 为规范实施第四期员工持股计划（以下简称"本员工持股计划"），中顺洁 柔纸业股份有限公司（以下简称"公司"）根据《中华人民共和国公司法》《中华人民共 和国证券法》《关于上市公司实施员工持股计划试点的指导意见》《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》《公司章程》《第四期员工持 股计划（草案）》等有关规定，制定《第四期员工持股计划管理办法》（以下简称"本办 法"）。 第二章 员工持股计划参加对象的确定依据 第二条 参加对象的确定依据 （一）公司根据《中华人民共和国公司法》《中华人民共和国证券法》《关于上市 公司实施员工 ...

中顺洁柔纸业股份有限公司董事会 关于第四期员工持股计划（草案）的合规性说明 2、本员工持股计划相关审议与决策程序合法、有效，不存在公司以摊派、 强行分配等方式强制员工参与的情形。 3、拟参与本员工持股计划的人员符合《关于上市公司实施员工持股计划试 点的指导意见》《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》等相关规定，符合本员工持股计划规定的参加对象范围，主体资格 合法、有效。 4、本员工持股计划将进一步健全公司激励与约束机制，充分调动员工工作 积极性与创造性，有利于公司可持续发展，不会损害公司及中小股东合法权益。 综上，董事会认为，本员工持股计划的制定及内容具备合规性。 中顺洁柔纸业股份有限公司董事会 2025年7月1日 中顺洁柔纸业股份有限公司（以下简称"公司"）董事会对《第四期员工持 股计划（草案）》（以下简称"本员工持股计划"）内容的合规性做出说明如下： 1、本员工持股计划由董事会薪酬与考核委员会依据实际情况制定，在公告 前已召开职工代表大会充分征求意见，符合《关于上市公司实施员工持股计划试 点的指导意见》《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 ...

证券简称：中顺洁柔 证券代码：002511 中顺洁柔纸业股份有限公司 第四期员工持股计划 （草案） 二〇二五年七月 中顺洁柔纸业股份有限公司第四期员工持股计划（草案） 声明 公司及全体董事、监事、高级管理人员保证本员工持股计划内容不存在虚假 记载、误导性陈述或者重大遗漏，对本员工持股计划内容的真实性、准确性、完 整性承担个别和连带的法律责任。 1 中顺洁柔纸业股份有限公司第四期员工持股计划（草案） 风险提示 （一）本员工持股计划经公司股东大会审议批准后方可实施，能否获得公司 股东大会批准，存在不确定性。 （二）本员工持股计划的资金来源、股份来源、参加对象等要素均属初步结 果，能否完成实施，存在不确定性。 （三）如参加对象的认购资金不足，本员工持股计划存在不能成立或者低于 预计规模的风险。 （四）公司将根据有关规定及时披露本员工持股计划进展情况，敬请广大投 资者谨慎决策，注意投资风险。 2 中顺洁柔纸业股份有限公司第四期员工持股计划（草案） 特别提示 （一）本员工持股计划依据《中华人民共和国公司法》《中华人民共和国证 券法》《关于上市公司实施员工持股计划试点的指导意见》《深圳证券交易所上 市公司自律监管指引第 ...

证券简称：中顺洁柔 证券代码：002511 中顺洁柔纸业股份有限公司 第四期员工持股计划 （草案）摘要 二〇二五年七月 中顺洁柔纸业股份有限公司第四期员工持股计划（草案）摘要 声明 公司及全体董事、监事、高级管理人员保证本员工持股计划内容不存在虚假 记载、误导性陈述或者重大遗漏，对本员工持股计划内容的真实性、准确性、完 整性承担个别和连带的法律责任。 1 中顺洁柔纸业股份有限公司第四期员工持股计划（草案）摘要 风险提示 （一）本员工持股计划经公司股东大会审议批准后方可实施，能否获得公司 股东大会批准，存在不确定性。 （二）本员工持股计划的资金来源、股份来源、参加对象等要素均属初步结 果，能否完成实施，存在不确定性。 （三）如参加对象的认购资金不足，本员工持股计划存在不能成立或者低于 预计规模的风险。 （四）公司将根据有关规定及时披露本员工持股计划进展情况，敬请广大投 资者谨慎决策，注意投资风险。 2 中顺洁柔纸业股份有限公司第四期员工持股计划（草案）摘要 特别提示 （一）本员工持股计划依据《中华人民共和国公司法》《中华人民共和国证 券法》《关于上市公司实施员工持股计划试点的指导意见》《深圳证券交易所上 市公司 ...