债券代码：127042 债券简称：嘉美转债 嘉美食品包装（滁州）股份有限公司 证券代码：002969 证券简称：嘉美包装 公告编号：2025-034 2024 年年度权益分派实施公告 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. 截至本公告日，嘉美食品包装（滁州）股份有限公司（以下简称"公司"） 总股本为 955,451,290 股，其中回购专用证券账户持有公司股份数量为 7,081,000 股，该部分已回购的股份不享有参与本次利润分配的权利； 2. 因回购股份不参与分红，公司本次实际现金分红总额=实际参与分配的股 本×分配比例，即 948,370,290 股×0.01 元/股=9,483,702.90 元人民币（含税）；本 次权益分派实施后，除权除息价格计算时，每股现金红利应以 0.0099258 元/股 （含税）计算（每股现金红利=现金分红总额/总股本，即 9,483,702.90 元 /955,451,290 股=0.0099258 元/股，计算结果不四舍五入，保留小数点后七位）。 因此，在保证本次权益分派方案不变的情况下，本次权益分 ...

Group 1 - The company will implement the 2024 annual equity distribution, during which the convertible bonds (referred to as "Jia Mei Convertible Bonds") will suspend conversion from May 19, 2025, until the registration date for the equity distribution [1][2] - The conversion period for the Jia Mei Convertible Bonds is from February 14, 2022, to August 8, 2027 [1] - After the equity distribution, the conversion of the bonds will resume on the first trading day following the registration date for the equity distribution [1] Group 2 - The adjustment of the conversion price will be based on specific formulas outlined in the company's prospectus, which accounts for stock dividends, capital increases, new share issuances, and cash dividends [2][3] - The formulas for adjusting the conversion price include various scenarios such as stock dividends, capital increases, and cash dividends, ensuring that the conversion price reflects the changes in equity structure [2][3] - The company will announce any adjustments to the conversion price through official channels, ensuring transparency and adherence to regulatory requirements [3][4]

债券代码：127042 债券简称：嘉美转债 嘉美食品包装（滁州）股份有限公司 关于实施权益分派期间嘉美转债暂停转股的公告 证券代码：002969 证券简称：嘉美包装 公告编号：2025-033 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： 债券代码：127042 债券简称：嘉美转债 特此公告。 附件：《嘉美食品包装（滁州）股份有限公司公开发行可转换公司债券募集 说明书》中"转股价格的调整方式及计算公式"条款的规定 嘉美食品包装（滁州）股份有限公司 董事会 转股期限：2022 年 2 月 14 日至 2027 年 8 月 8 日 暂停转股时间：2025 年 5 月 19 日至 2024 年年度权益分派股权登记日止 恢复转股时间：2024 年年度权益分派股权登记日后的第一个交易日 嘉美食品包装（滁州）股份有限公司（以下简称"公司"）将于近日实施 公司 2024 年年度权益分派，根据公司《公开发行可转换公司债券募集说明书》 中"转股价格的调整方式及计算公式"条款（附后）的规定，自 2025 年 5 月 19 日起至本次权益分派股权登记日止，公司可转换公 ...

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：002969 证券简称：嘉美包装 公告编号：2025-032 债券代码：127042 债券简称：嘉美转债 嘉美食品包装（滁州）股份有限公司 关于 2024 年年度股东会会议决议的公告 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： 1. 本次股东会无否决议案或修改议案的情况； 2. 本次股东会不涉及变更以往股东会已通过的决议。 （七） 会议主持人：董事长陈民先生 （八） 会议召开的合法、合规性：会议经本公司第三届董事会第十六次会 议审议通过，召集程序符合相关法律、行政法规、部门规章、规范性文件和《公 司章程》的规定。 一、 会议召开情况 （一）会议届次：2024 年年度股东会 （二）会议召集人：公司董事会 （三）会议召开时间 1.现场会议召开时间：2025 年 5 月 15 日（星期四）14:00 2.网络投票时间：2025 年 5 月 15 日，其中通过深圳证券交易所交易系统（以 下简称"交易系统"）进行网络投票的具体时间为 2025 年 5 月 15 日上午 9:15-9:25，9:30-11:30，下午 13:00-15:00；通过 ...

北京市东城区建国门内大街 26 号新闻大厦 7 层、8 层 电话：010-88004488/66090088 传真：010-66090016 邮编：100005 北京国枫律师事务所 关于嘉美食品包装（滁州）股份有限公司 2024 年年度股东会的 法律意见书 国枫律股字[2025]A0183 号 致：嘉美食品包装（滁州）股份有限公司（贵公司） 北京国枫律师事务所（以下简称"本所"）接受贵公司的委托，指派律师出席并见 证贵公司 2024 年年度股东会（以下简称"本次会议"）。 本所律师根据《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》（以下简称 "《股东会规则》"）、《律师事务所从事证券法律业务管理办法》（以下简称"《证券法律 业务管理办法》"）、《律师事务所证券法律业务执业规则（试行）》（以下简称"《证券法 律业务执业规则》"）等相关法律、行政法规、规章、规范性文件及《嘉美食品包装（滁 州）股份有限公司章程》（以下简称"《公司章程》"）的规定，就本次会议的召集与召开 程序、召集人资格、出席会议人员资格、会议表决程序及表决结果等事宜 ...

Core Viewpoint - The company anticipates stable annual performance despite a significant decline in net profit in Q1 due to the beverage industry's "small year" impact, which is consistent with similar past years [1][2] Group 1: Company Performance - In Q1, the company's net profit decreased significantly year-on-year due to the beverage industry's "small year" and weak demand for beverage gift consumption [1] - The company operates in metal packaging, producing three-piece cans, two-piece cans, aseptic paper packaging, and PET bottles, closely tied to the macro economy and the downstream food and beverage industry [1] - The company expects to maintain performance at levels comparable to similar years despite the Q1 decline [1] Group 2: Strategic Initiatives - The company plans to leverage its relatively low debt ratio and strong cash flow to actively seek suitable acquisition opportunities in response to regulatory policies promoting mergers and acquisitions [2] - Future growth is anticipated from two directions: new brands entering the beverage industry and new products from traditional beverage brands [2] - The company is advancing its "full industry chain beverage service platform" strategy, with positive trends in traditional core customer growth, new customers, and new product development [2] Group 3: Market Dynamics - The metal packaging industry in China has over 2,000 companies, characterized by low concentration and many regional small and medium-sized enterprises lacking scale advantages, indicating a clear trend towards industry consolidation [1] - The company aims to reduce reliance on single large customers and enhance cross-selling and export capabilities among core customer business segments [2] - The growth of order quantity and frequency from some leading customers indicates a positive development trend for the platform's contract filling business model, which is expected to become a new profit growth point [2]

Group 1: Company Performance and Strategy - In 2024, the company achieved a total revenue of approximately 3.2 billion CNY, with a net profit of about 183 million CNY, representing a year-on-year growth of approximately 19% [8] - The company is focusing on its "full industry chain beverage service platform" strategy, which is steadily advancing with positive trends in traditional core customer growth, new customers, new products, and new business developments [5][9] - The first major customer’s share has significantly decreased from over 60% to just above 30%, reducing dependency risks on a single client [11] Group 2: Market Trends and Customer Base - The beverage market is entering a period of iteration, with new consumption brands emerging and traditional brands evolving, particularly in plant-based and protein beverages, which align with health trends [12][13] - The company has established a stable order quantity in its traditional core advantage business, maintaining an average level comparable to normal years [5][10] - New customers and potential clients in various beverage segments, including energy drinks and plant-based beverages, have shown significant order growth [5][8] Group 3: Operational Adjustments and Challenges - In Q1 2025, despite a significant decline in performance compared to the previous year, the company maintained stability at the average level for a "small year" in the beverage industry [10] - The company is actively adjusting its structure and controlling costs to navigate the challenging external environment, focusing on cross-selling among core customers and enhancing OEM capabilities [9][10] - The company’s export business has also seen breakthroughs, contributing to overall stability in order quantities [5] Group 4: Future Growth and Development Plans - The company plans to continue leveraging its capital market advantages to explore suitable acquisition opportunities that align with its strategic goals [9][14] - The flexible filling model is expected to become a new growth point, with significant order scale and frequency increases anticipated [14] - The company aims to enhance its overall profitability by focusing on both internal growth and external expansion strategies [9][12]

证券代码：002969 证券简称：嘉美包装 公告编号：2025-031 债券代码：127042 债券简称：嘉美转债 嘉美食品包装（滁州）股份有限公司 关于股份回购进展情况的公告 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。 一、 回购方案的主要内容 嘉美食品包装（滁州）股份有限公司（以下简称"公司"）于 2024 年 10 月 29 日召开第三届董事会第十一次会议，于 2024 年 11 月 15 日召开 2024 年第二 次临时股东大会，分别审议通过了《关于以集中竞价交易方式回购公司股份方案 的议案》，同意公司使用自有资金或回购专项贷款以集中竞价方式回购部分公司 已发行的人民币普通股（A 股）股票，回购的股份将用于转换公司发行的可转换 为股票的公司债券，回购股份资金总额不低于人民币 7,500 万元（含）且不超过 人民币 15,000 万元（含），回购价格不超过人民币 4.40 元/股（含）。本次回购的 实施期限为自股东大会审议通过之日起 12 个月内。详见公司分别于 2024 年 10 月 31 日 、 2024 年 11 月 18 日 刊 登 在 《 ...