证券代码： 002831 证券简称：裕同科技 公告编号：2025-037 深圳市裕同包装科技股份有限公司 关于注销部分回购股份完成暨股份变动的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、误 导性陈述或者重大遗漏。 特别提示： 1、本次注销的回购股份数量为10,000,053股，占注销前深圳市裕同包装科技股 份有限公司（以下简称"公司"）总股本的1.0747%。本次注销完成后，公司总股 本由930,513,553股变更为920,513,500股，公司注册资本由人民币930,513,553元变更 为920,513,500元。 2、经中国证券登记结算有限责任公司深圳分公司确认，本次回购股份的注销 日期为2025年8月22日。 公司因注销部分回购股份导致公司总股本发生变化，依据《公司法》《上市公 司股份回购规则》《深圳证券交易所上市公司自律监管指引第9号——回购股份》等 有关法律法规、部门规章、规范性文件及公司回购股份方案的有关规定，现就本次 注销部分回购股份完成暨股份变动情况公告如下： 一、回购股份情况 公司于 2021 年 9 月 15 日召开第四届董事会第十一次会议，审议通过了《关于 ...

Summary of Key Points from the Research Report Industry Overview - **Industry**: Retail and Consumer Goods in China - **Retail Sales Growth**: Retail sales grew by 3.7% year-on-year (y-o-y) in July 2025, below the Bloomberg consensus of 4.6% and a decrease from 4.8% y-o-y growth in June 2025 [2][8][12] Core Insights - **Sector Performance**: - Retail sales of goods increased by 4% y-o-y, with notable deceleration in fast-growing sectors such as household appliances and audiovisual equipment (+29%) and furniture (+21%) compared to 2Q25 [2][12] - Beverage sales grew by 3% and cosmetics by 5%, both showing positive month-on-month (m-o-m) growth, while construction and decoration materials (-1%) and auto sales (-2%) declined [2][12] - Catering growth remained weak at 1%, with service-related retail growth slowing to 5.2% in the first seven months of 2025, down from 5.3% in 1H25 [2][12] - **Policy Impact**: - Newly issued regulations aimed at promoting frugality in government organs have negatively impacted sectors like catering and baijiu [2] - A recent statement from Xinhuanet advocating for proper policy implementation may alleviate some overreactions from local governments, potentially easing pressure on affected industries [2] - **Government Stimulus**: - The government has introduced multiple stimulus measures, including childcare subsidies and interest subsidies for personal consumption loans, to boost consumption [3] - A third round of trade-in subsidies amounting to RMB 69 billion has been earmarked [3] - Economists at HSBC have revised China's GDP growth forecast for 2025 to 4.9%, up from 4.5%, anticipating further fiscal policies to stimulate domestic demand [3] Company-Specific Insights - **Ninebot**: - The company showed strong interim results with 2Q25 revenue and net profit exceeding market expectations. A 49% earnings compound annual growth rate (CAGR) is expected from 2024 to 2027 [4] - The stock is currently trading at a price-to-earnings (PE) ratio of 21x for 2025 and 16x for 2026, deemed attractive [4] - **China Resources Beer**: - Expected low-single-digit y-o-y growth in sales volume and high-single-digit growth in net profit for 1H25. The stock is trading at a PE of 15x for 2025 and 14x for 2026, with a dividend yield of 3.9% for 2025 [4] - **YUTO**: - The company is expected to benefit from the shift of orders to overseas markets amid trade tensions, enhancing its competitiveness and market share. The stock is trading at a PE of 13x for 2025 and 11x for 2026 [4] Additional Insights - **Consumer Confidence**: The consumer confidence index declined by 0.1 month-on-month in June 2025, indicating potential concerns among consumers regarding spending [20] - **Unemployment Rate**: The surveyed urban unemployment rate increased by 0.2% month-on-month in July 2025, reflecting ongoing labor market challenges [15] - **Subsector Performance**: - The consumer discretionary sector has shown strong performance with a year-to-date increase of 11.6% and a one-year increase of 44.4% [27] - The baijiu subsector is currently trading at a 17x 12-month forward PE, while the beer subsector is at 18x [30][33] This comprehensive summary captures the essential insights and data points from the research report, providing a clear overview of the current state of the retail and consumer goods industry in China, along with specific company performances and broader economic indicators.

从资金流向上来看，当日包装印刷板块主力资金净流出2.88亿元，游资资金净流出695.55万元，散户资金 净流入2.95亿元。包装印刷板块个股资金流向见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 872392 | 佳合科技 | 42.75 | 20.08% | 4.69万 | 1.94亿 | | 002303 | 美盈霖 | 4.38 | 5.29% | 69.61万 | 2.986.Z | | 603022 | 新通联 | 10.87 | 4.62% | 31.66万 | 3.44亿 | | 833075 | 柏星龙 | 34.34 | 4.28% | ¥ 4.47万 | 1.52亿 | | 603607 | 京华激光 | 28.33 | 4.27% | 21.49万 | 6.00亿 | | 601968 | 宝钢包装 | 5.37 | 4.07% | 27.46万 | 1.46亿 | | 002831 | 裕同科技 | 24.80 | 2.44% | 6.40万 | 1.57亿 | ...

Investment Rating - The report maintains an "Outperform" rating for the light industry manufacturing sector [6][8]. Core Views - The report highlights that the domestic price of broadleaf pulp has recently increased, while cultural paper and white card paper remain under pressure due to supply and demand factors. However, the waste paper sector shows a strong willingness to raise prices, continuing its upward trend. In July, China's furniture exports increased by 3.0% year-on-year, and U.S. furniture sales rose by 5.1% year-on-year. The extension of reciprocal tariffs and countermeasures between China and the U.S. for another 90 days, along with the approaching U.S. interest rate cuts and overseas promotional stocking demands, suggests a potential recovery in the export chain [17][25]. Summary by Sections 1. Recent Research Tracking and Investment Thoughts - The domestic price of broadleaf pulp has risen slightly, while cultural paper and white card paper prices are still under pressure. The waste paper sector continues to show strong price increase intentions, maintaining an upward trend. In July, China's furniture exports increased by 3.0% year-on-year, and U.S. furniture sales rose by 5.1% year-on-year. The extension of reciprocal tariffs and countermeasures between China and the U.S. for another 90 days, along with the approaching U.S. interest rate cuts and overseas promotional stocking demands, suggests a potential recovery in the export chain [17][25]. 2. Key Data Tracking - In July, China's furniture retail sales increased by 20.6% year-on-year, while sales in building materials and home furnishing markets decreased by 12.9% year-on-year. The total retail sales of social consumer goods in July reached 38,780 billion yuan, with a year-on-year increase of 3.7% [39]. - The domestic price of broadleaf pulp has increased by 109 yuan/ton compared to July, influenced by international production cuts and price increases. The waste paper sector has also seen price increases, with waste paper prices rising by 21 yuan/ton for old books and 100 yuan/ton for old yellow board paper [18][22]. - In July, the U.S. furniture and home decor store sales increased by 5.1% year-on-year, maintaining a single-digit growth for 11 consecutive months. The inventory turnover ratios for U.S. furniture wholesalers and retailers indicate stable conditions, suggesting resilience in overseas demand [25][26]. 3. Company Announcements and Industry Dynamics - The report recommends focusing on leading companies in the home furnishing sector, such as Oppein Home, Sophia, and Gujia Home, which are expected to benefit from the recovery in home consumption. In the paper and packaging sector, it highlights Sun Paper as a key player benefiting from new capacity releases [5][14][15].

Investment Rating - The report indicates a positive investment outlook for the IP toy sector, paper industry, and home furnishing sector, highlighting specific companies to watch [2][4][17]. Core Insights - The IP toy market continues to thrive, with Sanrio's FY26Q1 performance exceeding expectations, driven by strong IP character sales, particularly Hello Kitty, across various regions [2][4]. - The paper industry is entering a peak demand season in Q3, with expectations for price stabilization and potential upward movement due to supply-side improvements [14][15]. - The home furnishing sector is poised for recovery as Beijing relaxes housing purchase restrictions, which may enhance valuation and stimulate demand [17][19]. Summary by Sections 1. IP Toy Sector - Sanrio's FY26Q1 revenue reached 431 billion JPY, a 49% year-on-year increase, with operating profit up 88% and net profit up 38%, attributed to strong IP character performance [2][4]. - Companies such as Morning Glory, Chuangyuan, Chaohongji, Guobo, and Blucor are highlighted for their innovative IP collaborations and product launches [2][4][6][9][10]. 2. Paper Industry - The report notes that Q3 demand is gradually increasing, with expectations for paper prices to stabilize and potentially rise, supported by reduced production from overseas suppliers [14][15]. - Key companies to monitor include Sun Paper, Nine Dragons, and Bohui Paper, as they are positioned to benefit from the improving supply-demand dynamics [14][15]. 3. Home Furnishing Sector - The easing of purchase restrictions in Beijing is expected to boost the home furnishing sector, with companies like Sophia, Oppein, Gujia, and others identified as having strong dividend safety margins [17][19][23]. - The report emphasizes the potential for valuation recovery in the home furnishing sector, driven by improved consumer confidence and demand from the secondary housing market [19][23].

证券代码：002831 证券简称：裕同科技 公告编号：2025-035 深圳市裕同包装科技股份有限公司 2025年第二次临时股东大会 决议公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、误导性陈述或者重大遗漏。 特别提示： 1、本次股东大会未出现否决议案的情形。 2、本次股东大会未涉及变更前次股东大会决议。 一、会议召开和出席情况 （一）会议召开情况 （1）现场会议召开时间：2025年8月11日（星期一）下午14:30 （2）网络投票时间： （a）通过深圳证券交易所交易系统进行网络投票的具体时间为：2025年8月11日上午9:15一9:25，9:30 一11:30；下午13:00一15:00； （b）通过深圳证券交易所互联网投票系统投票的具体时间为：2025年8月11日上午9:15一下午15:00。 3、股权登记日：2025年8月6日 4、召开地点：深圳市宝安区石岩街道水田社区石环路1号公司三楼会议室 5、召开方式：现场投票与网络投票表决相结合 6、召集人：公司董事会 通过现场和网络投票的中小股东197人，代表股份90,168,100股，占公司有表决权股份总数的9.6901％。 其中： ...

Group 1 - The latest stock price of Yutong Technology is 24.65 yuan, up 0.69% from the previous trading day, with an intraday high of 24.94 yuan and a low of 24.30 yuan, and a trading volume of 0.66 billion yuan [1] - Yutong Technology operates in the paper printing industry, covering packaging printing and environmental materials, and is a leading provider of packaging solutions in China [1] - On the news front, Yutong Technology announced that the second extraordinary general meeting of shareholders in 2025 approved the proposal to cancel part of the repurchased shares and reduce registered capital [1] Group 2 - On August 11, the net inflow of main funds into Yutong Technology was 1.7784 million yuan, with a cumulative net inflow of 15.6496 million yuan over the past five days [1]

北京市中伦（广州）律师事务所 关于深圳市裕同包装科技股份有限公司 法律意见书 二〇二五年八月 北京市中伦（广州）律师事务所 关于深圳市裕同包装科技股份有限公司 本法律意见仅供裕同科技本次股东大会之目的使用，不得被其他任何人用于 其他任何目的。本所律师同意将本法律意见书随裕同科技本次股东大会其他信息 披露资料予以公告。 法律意见书 致：深圳市裕同包装科技股份有限公司 根据深圳市裕同包装科技股份有限公司（"裕同科技"或"公司"）的委托， 北京市中伦（广州）律师事务所（"本所"）就公司 2025 年第二次临时股东大会 （"本次股东大会"）所涉及的召集、召开程序、召集人资格和出席会议人员的资 格、本次股东大会的提案、表决程序及表决结果等相关问题发表法律意见。 本法律意见书系根据《中华人民共和国公司法》（"《公司法》"）、《中华人民 共和国证券法》、《上市公司股东大会规则》（"《股东大会规则》"）、《律师事务所 从事证券法律业务管理办法》（"《证券法律业务管理办法》"）及《深圳市裕同包 装科技股份有限公司章程》（"《公司章程》"）的有关规定出具。 为出具本法律意见书之目的，本所经办律师（"本所律师"）列席了本次股东 大 ...

深圳市裕同包装科技股份有限公司 2025 年第二次临时股东大会 证券代码：002831 证券简称：裕同科技 公告编号：2025-035 深圳市裕同包装科技股份有限公司 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、误 导性陈述或者重大遗漏。 特别提示： 一、会议召开和出席情况 （一）会议召开情况 （1）现场会议召开时间：2025年8月11日（星期一）下午14:30 （2）网络投票时间： （a）通过深圳证券交易所交易系统进行网络投票的具体时间为：2025 年 8 月 11 日上午 9:15—9:25，9:30—11:30；下午 13:00—15:00； （b）通过深圳证券交易所互联网投票系统投票的具体时间为：2025年8月11日 上午9:15—下午15:00。 深圳市裕同包装科技股份有限公司 2025 年第二次临时股东大会 定。 （二）会议出席情况 通过现场和网络投票的股东201人，代表股份634,566,762股，占公司有表决权 股份总数的68.1953％。 其中：通过现场投票的股东5人，代表股份544,398,762股，占公司有表决权股 份总数的58.5052％。 通过网络投票的股东19 ...

Group 1 - The company has decided to cancel 10,000,053 repurchased shares and reduce its registered capital by the same amount, following the approval from the board and shareholders [1] - The cancellation of shares is due to the expiration of the three-year holding period for the repurchased shares, during which the company did not implement any employee stock ownership or incentive plans [1] - The company is complying with relevant laws and regulations regarding share repurchase and capital reduction [1] Group 2 - Creditors have the right to request debt repayment or guarantees within 45 days from the announcement date, with specific procedures outlined for submitting claims [2] - The company has provided contact information and requirements for creditors to submit their claims, including necessary documentation [2][3] - The announcement emphasizes that the validity of creditors' claims will not be affected if they fail to apply within the specified period [2]