证券代码：301296 证券简称：新巨丰 公告编号：2025-036 山东新巨丰科技包装股份有限公司 第三届董事会第二十六次会议决议公告 损害上市公司及全体股东利益的情形。因此，董事会同意公司本次作废部分第二 类限制性股票及注销部分股票期权。 具体内容详见公司同日披露于巨潮资讯网（www.cninfo.com.cn）的《关于2022 年限制性股票与股票期权激励计划作废部分第二类限制性股票及注销部分股票 期权的公告》。 公司第三届董事会薪酬与考核委员会2025年第二次会议已审议通过该议案。 表决结果：7票同意，0票反对，0票弃权。董事隗功海、焦波为本激励计划 激励对象，对本议案回避表决。董事刘宝忠近亲属为本激励计划激励对象，对本 议案回避表决。 本公司及董事会全体成员保证信息披露内容真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 一、董事会会议召开情况 山东新巨丰科技包装股份有限公司（以下简称"公司"）第三届董事会第二 十六次会议的通知于2025年5月16日以电子邮件等方式送达全体董事，并于2025 年5月22日在公司会议室以现场结合通讯方式召开。本次会议应出席董事10人， 实际出席董事10人，其中张 ...

Investment Rating - The report maintains a "Strong Buy" rating for the company, expecting it to outperform the benchmark index by over 20% in the next six months [1][13]. Core Insights - The company reported a revenue of 1.71 billion yuan and a net profit of 180 million yuan for 2024, showing a year-on-year revenue decline of 1.8% but a net profit increase of 8.0%. In Q1 2025, the revenue was 360 million yuan, with a significant decline in net profit by 75.0% year-on-year [1][3]. - The company is a leader in the domestic aseptic packaging market, with a market share of approximately 10.5% in the Chinese aseptic packaging sales volume and 13.4% in the liquid milk market. The core customer, Yili, experienced a revenue decline of 8.2% in 2024 [1][7]. - The gross margin improved to 23.8% in 2024, up by 2.1 percentage points year-on-year, while the net profit margin also increased to 10.8% [1][7]. Financial Summary - For 2024, the company achieved total revenue of 1,706 million yuan, with a projected growth of 3.4% in 2025, reaching 1,764 million yuan. The net profit is expected to grow by 14.9% in 2025, reaching 211 million yuan [3][8]. - The earnings per share (EPS) for 2024 is projected at 0.44 yuan, with a price-to-earnings (P/E) ratio of 22. The target price is set at 11.7 yuan, compared to the current price of 9.69 yuan [3][8]. - The company’s total assets are projected to grow from 3.58 billion yuan in 2024 to 4.20 billion yuan by 2027, indicating a steady growth trajectory [8].

中信证券股份有限公司 关于山东新巨丰科技包装股份有限公司 2 | 9.保荐业务工作底稿记录、保管是否合规 | 是 | | --- | --- | | 10.对上市公司培训情况 | | | （1）培训次数 | 1次 | | （2）培训日期 | 2024年12月26日 | | （3）培训的主要内容 | 根据《深圳证券交易所创业板股票上市规则》 | | | 以及《深圳证券交易所上市公司自律监管指引 | | | 第2号——创业板上市公司规范运作》等规则 | | | 要求，对募集资金使用与管理、信息披露要 | | | 求、股东及董监高减持股份规定、内幕交易、 | | | 日常监管与违规处理等相关内容进行培训。 | | 11.其他需要说明的保荐工作情况 | 无 | 二、保荐人发现公司存在的问题及采取的措施 一、保荐工作概述 | 项目 | 工作内容 | | --- | --- | | 1.公司信息披露审阅情况 | | | （1）是否及时审阅公司信息披露文件 | 是 | | （2）未及时审阅公司信息披露文件的次数 | 无 | | 2．督导公司建立健全并有效执行规章制度的情况 | | | （1）是否督导公司建立健全规章制度（包 ...

| 11.从事风险投资、委托理财、套期保值业务等事项是否建 | √ | | | --- | --- | --- | | 立了完备、合规的内控制度 | | | | （三）信息披露 | | | | 现场检查手段：查阅上市公司信息披露文件，重大信息的传递披露流程文件，内 | | | | 幕信息管理和知情人登记管理情况，信息披露管理制度，会计师出具的内部控制 | | | | 审计报告，检索公司舆情报道，对高级管理人员进行访谈。 | | | | 1.公司已披露的公告与实际情况是否一致 | √ | | | 2.公司已披露的内容是否完整 | √ | | | 3.公司已披露事项是否未发生重大变化或者取得重要进展 | √ | | | 4.是否不存在应予披露而未披露的重大事项 | √ | | | 5.重大信息的传递、披露流程、保密情况等是否符合公司 | √ | | | 信息披露管理制度的相关规定 | | | | 6.投资者关系活动记录表是否及时在本所互动易网站刊载 | √ | | | （四）保护公司利益不受侵害长效机制的建立和执行情况 | | | | 现场检查手段：查阅公司章程及关联交易管理制度、对外担保管理制度等相关制 | | ...

Core Viewpoint - The company reported a slight decline in revenue for 2024, but an increase in net profit, indicating a mixed performance amidst market challenges [1][2]. Financial Performance - In 2024, the company achieved revenue of 1.71 billion, net profit of 180 million, and net profit excluding non-recurring items of 160 million, with year-on-year changes of -1.8%, +8.0%, and -4.2% respectively [1]. - For Q1 2025, the company reported revenue of 360 million, net profit of 10 million, and net profit excluding non-recurring items of 10 million, reflecting year-on-year declines of -18.2%, -75.0%, and -74.5% respectively [1]. Market Dynamics - The liquid milk market is contracting, impacting the company's liquid milk packaging revenue, which was 1.67 billion in 2024, down 1.1% year-on-year [2]. - The non-carbonated soft drink packaging revenue fell significantly by 35.4% to 30 million in 2024, compared to a growth of 45.3% in the same period of the previous year [2]. - The total packaging volume for 2024 was 12.08 billion units, a decrease of 1.4% year-on-year, with the company holding a 10.5% share of the Chinese aseptic packaging market and a 13.4% share in the liquid milk packaging segment [2]. Profitability and Cost Management - The company improved its gross margin to 23.8% in 2024, an increase of 2.1 percentage points year-on-year, while the net profit margin reached 10.8%, up 1.0 percentage points [3]. - In Q1 2025, the gross margin was 25.2%, reflecting a year-on-year increase of 2.7 percentage points, although it decreased slightly by 0.2 percentage points from the previous quarter [3]. - The company experienced fluctuations in expense ratios, with selling, administrative, and financial expense ratios reported at 3.5%, 8.1%, and 5.8% respectively for Q1 2025, with significant increases in financial expenses due to acquisition loan interest [3]. Strategic Outlook - The company has become the largest shareholder of Fenmei Packaging, which is expected to enhance synergies in capacity, research and development, and customer relations, potentially increasing market share [2]. - The company anticipates that the core client, Yili, will see a positive revenue trend in Q1 2025, which may further support growth [3].

Investment Rating - The report maintains a "Strong Buy" rating for the company, expecting it to outperform the benchmark index by over 20% in the next six months [7][13]. Core Views - The company reported a revenue of 1.71 billion yuan and a net profit of 180 million yuan for 2024, showing a year-on-year revenue decline of 1.8% but a net profit increase of 8.0%. For Q1 2025, the revenue was 360 million yuan, with a significant decline in net profit by 75.0% year-on-year [1][3]. - The company is positioned as a leader in the domestic aseptic packaging market, with a notable market share of approximately 10.5% in the Chinese aseptic packaging sales volume and 13.4% in the liquid milk market [7][8]. - The gross margin improved to 23.8% in 2024, up by 2.1 percentage points year-on-year, while the net profit margin also increased to 10.8% [7][8]. - The company anticipates synergies from the acquisition of Fenmei Packaging, which is expected to enhance its production capacity, research and development, and customer base [7][8]. Financial Summary - For 2024, the company achieved total revenue of 1,706 million yuan, with projected growth rates of 3.4%, 6.3%, and 7.3% for 2025, 2026, and 2027 respectively [3][8]. - The net profit for 2024 was 184 million yuan, with expected growth rates of 14.9%, 7.1%, and 7.5% for the following years [3][8]. - The earnings per share (EPS) for 2024 is projected at 0.44 yuan, with a price-to-earnings (P/E) ratio of 22 [3][8]. - The target price for the company's stock is set at 11.7 yuan, compared to the current price of 9.69 yuan [3][8].

为出具本法律意见书，本所律师审查了公司提供的以下文件，包括但不限于： 1. 经公司 2024 年第五次临时股东大会审议通过的《公司章程》； 2. 公司于 2025 年 4 月 25 日刊登于巨潮资讯网及深圳证券交易所网站的《山 东新巨丰科技包装股份有限公司第三届董事会第二十四次会议决议公告》； 3. 公司于 2025 年 4 月 25 日刊登于巨潮资讯网及深圳证券交易所网站的《山 东新巨丰科技包装股份有限公司第三届监事会第二十次会议决议公告》； 4. 公司 2025 年 4 月 25 日刊登于巨潮资讯网及深圳证券交易所网站的《山东 新巨丰科技包装股份有限公司关于召开 2024 年度股东大会的通知》（以下简称 《股东大会通知》）； 北京市金杜律师事务所 关于山东新巨丰科技包装股份有限公司 2024 年度股东大会之法律意见书 致：山东新巨丰科技包装股份有限公司 北京市金杜律师事务所（以下简称本所）接受山东新巨丰科技包装股份有限公 司（以下简称公司）委托，根据《中华人民共和国证券法》（以下简称《证券 法》）、《中华人民共和国公司法》（以下简称《公司法》）、中国证券监督管理 委员会《上市公司股东会规则》（以下简称《股 ...

证券代码：301296 证券简称：新巨丰 公告编号：2025-035 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。 1、本次股东大会无新增、变更、否决提案的情况； 2、本次股东大会没有涉及变更前次股东大会已通过的决议的情形。 （一）会议召开情况 1、会议召开时间 现场会议时间：2025 年 5 月 15 日下午 15:00。 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；通过深圳证券交易所互联网投票系统投票的具体时间为：2025 年 5 月 15 日 9:15-15:00 期间的任意时间。 山东新巨丰科技包装股份有限公司 2024 年度股东大会决议公告 2、现场会议地点：北京市朝阳区亮马桥路甲 40 号二十一世纪大厦 B 座 12 层 大会议室 3、会议召开方式：现场表决与网络投票相结合的方式召开 4、会议召集人：山东新巨丰科技包装股份有限公司董事会 5、会议主持人：董事长袁训军先生 本次股 ...

Group 1: Company Overview and Market Position - The company focuses on packaging for liquid milk and non-carbonated soft drinks, with plans to gradually expand into other fields based on market demand and strategic planning [2] - In 2024, the company held a market share of approximately 10.5% in China's aseptic packaging market and 13.4% in the liquid milk market [6] Group 2: Financial Performance and Growth Strategies - The company aims to enhance production scale and profitability, with a comprehensive operational plan in place to create greater value for shareholders [4] - Future growth points include capacity expansion, market resource integration, service upgrades, and increased investment in technology and research and development [5] Group 3: Industry Outlook and Challenges - The aseptic packaging market faced pressure in 2024 due to a contraction in the downstream liquid milk market [6] - Long-term prospects for the industry remain positive, driven by economic recovery and government policies aimed at stimulating consumer spending [7] Group 4: Financial Returns and Shareholder Engagement - The proposed profit distribution plan for 2024 includes a cash dividend of 0.58 yuan per 10 shares, totaling approximately 24.17 million yuan [10] - The company is considering mid-term dividends based on actual operating performance and undistributed profit conditions [10] Group 5: Research and Development Initiatives - The company plans to increase R&D investment to enhance innovation capabilities, with a focus on establishing a research center in Kunshan to leverage local industrial advantages [12] - The goal is to develop a first-class research base that fosters technological innovation and improves competitiveness in the aseptic packaging sector [12] Group 6: Integration and Collaboration Post-Acquisition - Following the acquisition of Fenmei Packaging, the company aims to optimize internal resource allocation and enhance business collaboration to create greater value for shareholders and customers [13] - The strategy includes leveraging both companies' strengths in product design, technology development, and market positioning [13]

中国国际金融股份有限公司 关于山东新巨丰科技包装股份有限公司 重大资产购买 2024 年度持续督导意见 暨持续督导总结报告 独立财务顾问 北京市建国门外大街 1 号国贸大厦 2 座 27 层及 28 层 签署日期：2025 年 5 月 声明和承诺 中国国际金融股份有限公司（以下简称"中金公司"）接受委托，担任山东 新巨丰科技包装股份有限公司（以下简称"新巨丰"或"上市公司"或"公 司"）重大资产购买的独立财务顾问（以下简称"本独立财务顾问"）。本独立财 务顾问按照证券行业公认的业务标准、道德规范，本着诚实信用、勤勉尽责的 态度，出具本持续督导意见。 1、本持续督导意见所依据的文件和材料由本次交易各方提供，提供方已承 诺上述有关资料均为真实、准确和完整的，不存在虚假记载、误导性陈述或者 重大遗漏，并承担因违反上述承诺而引致的个别和连带的法律责任。 2、本独立财务顾问已按照规定履行尽职调查义务，有充分理由确信所发表 的专业意见与上市公司披露的文件内容不存在实质性差异，确信上市公司信息 披露文件真实、准确、完整。 3、本持续督导意见不构成对上市公司的任何投资建议，投资者根据本持续 督导意见所做出的任何投资决策而产生 ...