中顺洁柔纸业股份有限公司 2025 年第三季度报告 证券代码：002511 证券简称：中顺洁柔 公告编号：2025-67 中顺洁柔纸业股份有限公司 2025 年第三季度报告 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。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假 记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财 务信息的真实、准确、完整。 3.第三季度财务会计报告是否经过审计 □是 否 适用 □不适用 | | | 单位：元 | | | --- | --- | --- | --- | | 项目 | 本报告期金额 | 年初至报告期期末金额 | 说明 | | 非流动性资产处置损益（包括已计提资产减值准备的 | -1,068,097.34 | -910,829.33 | | | 冲销部分） | | | | | 计入当期损益的政府补助（与公司正常经营业务密切 相关、符合国家政策规定、按照确定的标准享有、对 公司损益 ...

Core Insights - The appreciation of the Renminbi has led to a 0.68% increase in the benefiting sectors compared to the previous trading day, with Zhongshun Jierou leading the gains [1] - The Shanghai Composite Index closed at 3996.94, up 1.18%, while the Shenzhen Component Index closed at 13489.4, up 1.51% [1] Summary of Benefiting Stocks - Zhongshun Jierou (002511) closed at 8.81, with a rise of 4.51% and a trading volume of 265,400 shares, amounting to a transaction value of 232 million [1] - Tongling Nonferrous Metals (000630) closed at 5.86, increasing by 2.81% with a trading volume of 3.91 million shares, totaling 2.299 billion [1] - Taiyuan Iron & Steel (000825) closed at 4.16, up 2.72% with a trading volume of 658,600 shares, amounting to 273 million [1] - Baosteel (600000) closed at 7.27, rising by 1.82% with a trading volume of 1.2066 million shares, totaling 877 million [1] - Other notable stocks include Aluminum Wine Food (300892) at 35.03 (+1.24%), Hengbang Co. (002237) at 13.22 (+1.15%), and Air China (601111) at 8.46 (+1.08%) [1] Fund Flow Analysis - The benefiting sector experienced a net outflow of 198 million from institutional investors, while retail investors saw a net inflow of 80.24 million [2] - Notable net inflows from retail investors were observed in stocks like Zhongshun Jierou and Taiyuan Iron & Steel, despite overall outflows from institutional investors [3]

Market Performance - The personal care products sector increased by 1.01% on October 27, with Zhongshun Jierou leading the gains [1] - The Shanghai Composite Index closed at 3996.94, up 1.18%, while the Shenzhen Component Index closed at 13489.4, up 1.51% [1] Stock Performance - Zhongshun Jierou (002511) closed at 8.81, up 4.51% with a trading volume of 265,400 shares and a turnover of 232 million yuan [1] - Yanjing Co. (300658) also saw a rise of 4.14%, closing at 8.81 with a trading volume of 215,900 shares and a turnover of 190 million yuan [1] - Other notable performers include Baiya Co. (003006) with a 2.77% increase, closing at 23.40, and Beijia Clean (603059) with a 2.68% increase, closing at 35.25 [1] Capital Flow - The personal care products sector experienced a net outflow of 43.87 million yuan from institutional investors, while retail investors saw a net inflow of 71.03 million yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors increased their positions [2] Individual Stock Capital Flow - Zhongshun Jierou had a net inflow of 27.07 million yuan from institutional investors, while retail investors had a net outflow of 25.69 million yuan [3] - Other stocks like Wanjian Medical (300888) and Baiya Co. (003006) also showed varied capital flows, with Wanjian Medical seeing a net inflow of 10.56 million yuan from institutional investors [3]

Group 1 - The core viewpoint of the news is that Zhongshun Jierou's stock price increased by 5.34%, reaching 8.88 CNY per share, with a trading volume of 138 million CNY and a turnover rate of 1.26%, resulting in a total market capitalization of 11.423 billion CNY [1] - Zhongshun Jierou Paper Co., Ltd. is located in Zhongshan City, Guangdong Province, and was established on May 28, 1999, with its listing date on November 25, 2010. The company primarily engages in the production and sale of mid-to-high-end household paper products, with finished products accounting for 95.70% of its revenue and semi-finished products and others making up 4.30% [1] Group 2 - From the perspective of major circulating shareholders, Southern Fund's Southern CSI 1000 ETF (512100) increased its holdings by 1.1745 million shares in the second quarter, bringing its total holdings to 6.014 million shares, which represents 0.48% of the circulating shares. The estimated floating profit today is approximately 2.7063 million CNY [2] - The Southern CSI 1000 ETF (512100) was established on September 29, 2016, with a latest scale of 64.953 billion CNY. Year-to-date returns are 25.99%, ranking 2101 out of 4219 in its category; one-year returns are 28.04%, ranking 1713 out of 3877; and since inception, the return is 11.49% [2] - The fund manager of Southern CSI 1000 ETF (512100) is Cui Lei, who has been in the position for 6 years and 356 days, managing a total fund asset size of 94.976 billion CNY. During this tenure, the best fund return was 172.21%, while the worst was -15.93% [2]

Market Overview - The personal care products sector experienced a decline of 0.34% on October 24, with Baiya Co., Ltd. leading the drop [1] - The Shanghai Composite Index closed at 3950.31, up 0.71%, while the Shenzhen Component Index closed at 13289.18, up 2.02% [1] Stock Performance - Key stocks in the personal care sector showed varied performance, with the following notable changes: - Baiya Co., Ltd. (003006) closed at 22.77, down 1.94% with a trading volume of 63,800 shares and a turnover of 146 million [1] - Yanjing Co., Ltd. (300658) closed at 8.46, down 1.40% with a trading volume of 168,400 shares and a turnover of 145 million [1] - Jeya Co., Ltd. (301108) closed at 35.76, down 0.91% with a trading volume of 49,800 shares and a turnover of 185 million [1] - Other stocks like Beijia Co. (603059) and Zhongshun Jierou (002511) also saw minor declines [1] Capital Flow - The personal care products sector saw a net inflow of 2.96 million from institutional investors and a net inflow of 4.80 million from retail investors, while retail investors experienced a net outflow of 7.76 million [3] - Notable capital flows for specific stocks include: - Wanjian Medical (300888) had a net inflow of over 9.34 million from institutional investors, but a net outflow of 11.91 million from retail investors [3] - Liangmian Needle (600249) saw a net inflow of 7.46 million from institutional investors, while retail investors had a net inflow of 1.39 million [3] - Baiya Co., Ltd. (003006) had a net inflow of 5.32 million from institutional investors but a significant net outflow of 4.30 million from retail investors [3]

Core Viewpoint - Zhongshun Jierou's stock price increased by 1.68% on October 23, with a trading volume of 70.46 million yuan, indicating positive market sentiment towards the company [1] Financing Summary - On October 23, Zhongshun Jierou had a financing buy-in amount of 6.14 million yuan and a financing repayment of 10.31 million yuan, resulting in a net financing buy of -4.17 million yuan [1] - The total financing and securities lending balance for Zhongshun Jierou as of October 23 is 219 million yuan, with the current financing balance at 217 million yuan, accounting for 2.00% of the circulating market value, which is below the 30th percentile level over the past year [1] - In terms of securities lending, there were no shares repaid on October 23, with 1,800 shares sold, amounting to 15,300 yuan at the closing price, and a securities lending balance of 1.54 million yuan, which is above the 60th percentile level over the past year [1] Business Performance Summary - As of June 30, Zhongshun Jierou had 90,000 shareholders, a decrease of 3.95% from the previous period, with an average of 14,053 circulating shares per person, an increase of 4.11% [2] - For the first half of 2025, Zhongshun Jierou achieved operating revenue of 4.33 billion yuan, a year-on-year increase of 7.67%, and a net profit attributable to shareholders of 150 million yuan, a significant year-on-year increase of 71.44% [2] - Since its A-share listing, Zhongshun Jierou has distributed a total of 845 million yuan in dividends, with 241 million yuan distributed over the past three years [2] Shareholding Structure Summary - As of June 30, 2025, Hong Kong Central Clearing Limited is the third-largest circulating shareholder of Zhongshun Jierou, holding 28.36 million shares, a decrease of 15.86 million shares from the previous period [2] - Southern CSI 1000 ETF (512100) is the sixth-largest circulating shareholder, holding 6.01 million shares, an increase of 1.17 million shares from the previous period [2] - Huaxia CSI 1000 ETF (159845) is the seventh-largest circulating shareholder, holding 3.52 million shares, an increase of 834,700 shares from the previous period, while GF CSI 1000 ETF (560010) is the tenth-largest circulating shareholder, holding 2.82 million shares as a new shareholder [2]

Market Overview - The personal care products sector increased by 0.82% on October 23, with Baiya Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3922.41, up 0.22%, while the Shenzhen Component Index closed at 13025.45, also up 0.22% [1] Stock Performance - Baiya Co., Ltd. (003006) closed at 23.22, up 2.74% with a trading volume of 73,700 shares and a turnover of 171 million yuan [1] - Beijia Co. (603059) closed at 34.56, up 1.98% with a trading volume of 38,800 shares and a turnover of 134 million yuan [1] - Dengkang Oral (001328) closed at 39.14, up 1.90% with a trading volume of 28,400 shares and a turnover of 112 million yuan [1] - Zhongshun Jiesang (002511) closed at 8.48, up 1.68% with a trading volume of 83,800 shares and a turnover of 70.46 million yuan [1] - Yanjing Co. (300658) closed at 8.58, up 1.30% with a trading volume of 175,500 shares and a turnover of 146 million yuan [1] - Other notable performances include Haoyue Nursing (605009) at 33.36, up 0.97%, and Runben Co. (603193) at 26.54, up 0.38% [1] Capital Flow - The personal care products sector saw a net inflow of 17.6 million yuan from institutional investors, while retail investors contributed a net inflow of 19.3 million yuan [2] - However, speculative funds experienced a net outflow of 36.9 million yuan [2] Detailed Capital Flow Analysis - Baiya Co., Ltd. had a net inflow of 19.28 million yuan from institutional investors, while it faced a net outflow of 11.41 million yuan from speculative funds [3] - Beijia Co. experienced a net inflow of 16.18 million yuan from institutional investors but a net outflow of 22.75 million yuan from speculative funds [3] - Dengkang Oral saw a net inflow of 4.54 million yuan from institutional investors, with minor outflows from other categories [3] - Zhongshun Jiesang had a net inflow of 1.60 million yuan from institutional investors, while speculative funds showed a net outflow [3]

Market Overview - The personal care products sector experienced a decline of 0.63% on October 22, with Baiya Co., Ltd. leading the drop [1] - The Shanghai Composite Index closed at 3913.76, down 0.07%, while the Shenzhen Component Index closed at 12996.61, down 0.62% [1] Stock Performance - Key stocks in the personal care sector showed varied performance, with Jieya Co., Ltd. increasing by 4.97% to a closing price of 36.95 [1] - Baiya Co., Ltd. closed at 22.60, down 1.95%, with a trading volume of 76,400 shares and a transaction value of 173 million yuan [2] - Other notable declines included Duncon Oral Care down 1.36% and Stable Medical down 0.86% [2] Capital Flow - The personal care products sector saw a net outflow of 26.09 million yuan from institutional investors, while retail investors had a net inflow of 21.82 million yuan [2] - The capital flow data indicates that retail investors were more active in the market compared to institutional investors [3] Individual Stock Capital Flow - For individual stocks, the net inflow for Jieya Co., Ltd. was 8.44 million yuan from institutional investors, while it faced a net outflow of 20.48 million yuan from retail investors [3] - Duncon Oral Care had a net inflow of 1.64 million yuan from institutional investors, but also saw outflows from retail investors [3]

Core Viewpoint - The company is committed to developing and nurturing the "Duo Lei Mi" brand of personal care products and will adjust production capacity based on market conditions [2] Group 1 - The company is actively engaging with investors through interactive platforms [2] - The company emphasizes its strategic focus on the personal care product category [2] - The company plans to rationally arrange production capacity in response to market dynamics [2]

Market Overview - The personal care products sector experienced a decline of 0.29% on October 20, with Dengkang Oral Care leading the drop [1] - The Shanghai Composite Index closed at 3863.89, up 0.63%, while the Shenzhen Component Index closed at 12813.21, up 0.98% [1] Stock Performance - Key stocks in the personal care sector showed varied performance, with Jeya Co. rising by 3.83% to a closing price of 34.72, and Dengkang Oral Care falling by 3.21% to 39.56 [1][2] - Other notable performers included Runben Co. with a 2.97% increase and Liangmian Needle with a 2.87% increase [1][2] Trading Volume and Value - Jeya Co. had a trading volume of 31,000 shares and a transaction value of 108 million yuan, while Dengkang Oral Care had a trading volume of 25,900 shares and a transaction value of 104 million yuan [1][2] Capital Flow - The personal care products sector saw a net inflow of 24.78 million yuan from institutional investors, while retail investors experienced a net outflow of 11.31 million yuan [2][3] - Major stocks like Liangmian Needle had a net inflow of 16.20 million yuan from institutional investors, while Dengkang Oral Care had a net inflow of 4.53 million yuan [3]