Core Insights - The Chinese packaging industry has a long development history and has formed a mature industrial chain, with a continuous push towards green and sustainable packaging from the "11th Five-Year Plan" to the "14th Five-Year Plan" [1][3] - The government has issued multiple policies to support the packaging industry, emphasizing its importance in the national economy and its role in sustainable development [3][9] Policy Development Timeline - The packaging industry has seen a progressive focus on green packaging from the "11th Five-Year Plan" to the "14th Five-Year Plan," with specific goals set for 2025 to establish a resource-circulating industrial system [1] - Key milestones include the promotion of green packaging materials and the establishment of a comprehensive green packaging standard system by the end of 2025 [9] National Policy Summary and Interpretation - The packaging industry is supported by national policies that encompass design, production, printing, raw material supply, and machinery manufacturing, reflecting its integral role in the economy [3][4] - Recent policies include the "Interim Regulations on Express Delivery" aimed at promoting green, reduced, and recyclable packaging, and the "Action Plan to Reduce Logistics Costs" focusing on green transformation [5][6] Specific Policy Highlights - The "Action Plan for Deepening the Green Transformation of Express Packaging" aims for a comprehensive green packaging standard system by the end of 2025, with specific targets for reducing excessive packaging and increasing the use of recyclable materials [9][10] - The "Notice on Further Strengthening the Governance of Excessive Packaging" emphasizes the need for innovation in packaging design and materials to reduce waste and promote sustainability [11][12] Local Government Policies - Various provinces have introduced policies focusing on green packaging and the reduction of excessive packaging, with specific measures to enhance governance and compliance [13][14] - For example, Zhejiang Province has implemented measures to strengthen the governance of excessive packaging, while Gansu Province has focused on developing packaging design capabilities [14][16] Industry Goals and Future Directions - The "14th Five-Year Plan" outlines key actions for the green transformation of express packaging, with provinces setting specific targets for the adoption of recyclable packaging and the reduction of plastic waste [18][21] - The overall direction is towards a more sustainable packaging industry, with an emphasis on reducing material usage and enhancing recycling capabilities across the supply chain [12][21]

福建至理律师事务所 关于昇兴集团股份有限公司 关于昇兴集团股份有限公司 2024 年度股东大会的 法 律 意 见 书 福建至理律师事务所 地址：中国福州市鼓楼区洪山园路华润万象城三期 TB#写字楼 22 层 电话：（86 591）8806 5558 网址：http://www.zenithlawyer.com 1 4．公司股东（或股东代理人）通过深圳证券交易所交易系统、互联网投票 系统参加网络投票的操作行为均视为股东自己的行为，股东应当对此承担一切法 律后果。通过深圳证券交易所交易系统、互联网投票系统进行投票的股东资格， 由网络投票系统提供机构深圳证券信息有限公司验证其身份。 2024 年度股东大会的法律意见书 闽理非诉字〔2025〕第 091 号 致：昇兴集团股份有限公司 福建至理律师事务所（以下简称本所）接受昇兴集团股份有限公司（以下简 称公司）之委托，指派陈禄生、林静律师（以下简称本所律师）出席公司 2024 年度股东大会（以下简称本次会议或本次股东大会），并依据《中华人民共和国 公司法》（以下简称《公司法》）、《中华人民共和国证券法》（以下简称《证券法》）、 《上市公司股东会规则》（中国证券监督管理委 ...

昇兴集团股份有限公司 2024 年度股东大会决议公告 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： 1、本次股东大会无否决提案的情况。 2、本次股东大会未涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 证券代码：002752 证券简称：昇兴股份 公告编号：2025-022 昇兴集团股份有限公司（以下简称"公司"）2024 年度股东大会采取现场 会议与网络投票相结合的方式召开，其中，本次股东大会现场会议于 2025 年 5 月19日下午14:00在福建省福州市经济技术开发区经一路1号公司会议室召开； 本次股东大会的网络投票时间为：(1)通过深圳证券交易所交易系统进行网络投 票的时间为 2025 年 5 月 19 日上午 9:15-9:25、9:30-11:30 和下午 13:00-15:00；(2) 通过深圳证券交易所互联网投票系统进行网络投票的时间为 2025 年 5 月 19 日上 午 9:15 至下午 15:00 期间的任意时间。 本次会议由公司董事会召集，由公司董事长林永保先生主持。出席本次股东 大会现场会议和参加网络投票的股东 ...

Investment Rating - The report assigns a "Buy" rating for the packaging sector, maintaining the previous rating of "Buy" [2] Core Insights - The plastic packaging segment shows steady revenue growth and an upward shift in profit margins, with Yongxin Co. reporting a revenue increase of 9.6% in Q4 2024 and 1.6% in Q1 2025, alongside a net profit growth of 41.7% and 2.9% respectively [2][6] - The paper packaging sector continues to grow steadily, with Yutong Technology experiencing a revenue increase of 11% in Q4 2024 and 6% in Q1 2025, despite a net profit decline of 35% in Q4 2024, which is expected to stabilize in Q2 2025 [3][7] - The metal packaging segment is facing challenges, particularly in the two-piece can market, but there are signs of potential recovery as industry consolidation progresses and demand stabilizes [4][8] Summary by Segment Plastic Packaging - Yongxin Co. reported a revenue increase of 9.6% in Q4 2024 and 1.6% in Q1 2025, with net profit growth of 41.7% and 2.9% respectively [2][6] - The gross margin for Q4 2024 was 25.9%, and for Q1 2025, it was 21.3%, indicating a slight increase in profitability [2] - The company is expected to maintain steady growth driven by new management and an expanding overseas market, with functional films projected to grow over 20% [2][6] Paper Packaging - Yutong Technology's revenue grew by 11% in Q4 2024 and 6% in Q1 2025, while net profit saw a decline of 35% in Q4 2024 but rebounded with a 10% increase in Q1 2025 [3][7] - The company is well-positioned with a global layout and stable customer orders, particularly in premium paper packaging [3][7] Metal Packaging - The two-piece can market is under pressure, with expected losses in Q1 2025, but there are signs of recovery as demand stabilizes and pricing improves [4][8] - Baosteel Packaging reported a revenue increase of 11% in Q4 2024 but only 1% in Q1 2025, with net profit fluctuations indicating a challenging environment [4][8] - The report suggests that ongoing industry consolidation and improved pricing power for leading companies may lead to a recovery in profitability [4][8]

Investment Rating - The report assigns a "Buy" rating for the packaging sector, maintaining the previous rating of "Buy" [2] Core Insights - The plastic packaging segment shows steady revenue growth and an upward shift in profit margins, with Yongxin Co. reporting a revenue increase of 9.6% in Q4 2024 and 1.6% in Q1 2025, alongside a net profit growth of 41.7% and 2.9% respectively [2][6] - The paper packaging sector continues to grow steadily, with Yutong Technology experiencing a revenue increase of 11% in Q4 2024 and 6% in Q1 2025, despite a net profit decline in Q4 2024 due to various one-off impacts [3][7] - The metal packaging segment is facing challenges, particularly in the two-piece can sector, but there are signs of potential recovery as industry consolidation progresses and demand stabilizes [4][8] Summary by Segment Plastic Packaging - Yongxin Co. reported a revenue increase of 9.6% in Q4 2024 and 1.6% in Q1 2025, with a net profit growth of 41.7% and 2.9% respectively [2][6] - The gross margin for Q4 2024 was 25.9%, and for Q1 2025, it was 21.3%, indicating a slight increase in profitability despite a decrease in product prices due to falling oil prices [6] - Functional films are expected to grow over 20% in Q1 2025, with overseas business projected to grow by 30% [2][6] Paper Packaging - Yutong Technology's revenue grew by 11% in Q4 2024 and 6% in Q1 2025, with a net profit decline of 35% in Q4 2024 but a recovery of 10% in Q1 2025 [3][7] - The company is expected to maintain stable customer orders and improve market share due to its global layout and strong client relationships [3][7] Metal Packaging - The two-piece can sector is under pressure, with expected losses in Q1 2025, but there are signs of recovery as demand from the beer sector stabilizes [4][8] - Baosteel Packaging reported a revenue increase of 11% in Q4 2024 but only 1% in Q1 2025, with a net profit growth of 138% in Q1 2025 [4][8] - The report suggests that the consolidation in the industry and improved pricing power for leading companies may lead to a recovery in profitability [4][8] Investment Recommendations - The report recommends focusing on companies with stable growth and high dividends, such as Yongxin Co. and Yutong Technology, as well as Baosteel Packaging and others in the two-piece can sector that may see a rebound [11]

证券代码： 002752 证券简称：昇兴股份 昇兴集团股份有限公司投资者关系活动记录表 | 投资者关系活动 | □特定对象调研 □ 分析师会议 | | --- | --- | | 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 （请文字说明其他活动内容） □ | | 参与单位名称及 | 投资者网上提问 | | 人员姓名 | | | 时间 | 2025 年 5 月 14 日 (周三) 下午 14:00~17:00 | | 地点 | 公司通过全景网"投资者关系互动平台"（https://ir.p5w.net） | | | 采用网络远程的方式召开业绩说明会 | | 上市公司接待人 | 1、董事长林永保 | | 员姓名 | 2、副总裁、董秘刘嘉屹 | | | 3、财务总监王炜 | | | 4、独立董事刘微芳 | | | 投资者提出的问题及公司回复情况 | | | 公司就投资者在本次说明会中提出的问题进行了回复： | | | 1、面对世界环境错综复杂，为提升公司实力，公司有没有 | | | 减员或者优化自身组织架构的目标 | | | 尊敬的投 ...

一、监事会召开会议的情况 昇兴集团股份有限公司 2024 年度监事会工作报告 2024 年度，昇兴集团股份有限公司（以下简称"公司"）监事会严格遵照 《中华人民共和国公司法》、《公司章程》和《监事会议事规则》等相关法律法 规、规章制度的要求，认真履行职责。监事会成员依法参加公司股东大会、董事 会，及时了解公司财务状况及经营成果，对公司治理的规范性和有效性、公司重 大决策及重要经营活动审议和执行情况、公司董事及高级管理人员勤勉履职等方 面进行有效的监督，切实维护了全体股东的合法权益。现将 2024 年度监事会工 作情况报告如下： 2024 年度，公司监事会共有监事 3 名，其中职工监事 1 名，监事会的人数 及人员构成符合法律、法规的要求。报告期内，公司监事会共召开了五次会议， 会议情况如下： 1、2024 年 1 月 5 日召开第五届监事会第一次会议，审议并通过《关于选举 公司第五届监事会主席的议案》。 2、2024 年 1 月 10 日召开第五届监事会第二次会议，审议并通过《关于接 受财务资助暨关联交易的议案》。 3、2024 年 4 月 26 日召开第五届监事会第三次会议，审议并通过《2023 年 度监事 ...