Core Viewpoint - The company plans to invest in a biodegradable product manufacturing base in Hefei, Anhui Province, with a total investment not exceeding RMB 505 million [1] Group 1: Project Details - The company and/or its subsidiaries will use self-owned funds, bank loans, or other financing methods for the project [1] - The project aims to meet the actual business development needs of the company [1] Group 2: Strategic Implications - The investment will help the company improve its industrial layout and product structure [1] - The project is expected to expand the production capacity of advantageous products and enhance the company's overall strength [1] - This initiative aligns with the company's strategic planning and operational development needs [1]

证券代码：301501 证券简称：恒鑫生活 公告编号：2025-030 同意公司及/或子公司经营管理层就上述事项办理与当地政府签协议、土地 摘牌、项目建设、环评等相关手续。 具体内容详见公司同日披露于巨潮资讯网（www.cninfo.com.cn）的相关公 告。 合肥恒鑫生活科技股份有限公司 第二届董事会第七次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、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 合肥恒鑫生活科技股份有限公司（以下简称"公司"）第二届董事会第七次会 议于2025年7月26日在公司会议室以现场结合通讯表决方式召开。会议通知于2025 年7月22日以电子方式向全体董事发出。会议应出席董事7人，实际出席董事7人。 会议由公司董事长严德平先生主持，公司监事、高级管理人员列席了会议。本次会 议的召集、召开和表决程序符合《中华人民共和国公司法》《公司章程》等有关规 定，会议合法、有效。 二、董事会会议审议情况 1.审议通过《关于拟购买土地使用权并投资建设项目的议案》 同意公司及/或子公司拟以自有资金、银行贷款或其他融资方式，在安徽省 合肥市长丰县建设绿色可降 ...

证券代码：301501 证券简称：恒鑫生活 公告编号：2025-031 合肥恒鑫生活科技股份有限公司 关于拟购买土地使用权并投资建设项目的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、投资概况 实施主体：公司及/或子公司 合肥恒鑫生活科技股份有限公司（以下简称"公司"）于2025年7月26日召 开公司第二届董事会第七次会议，审议通过《关于拟购买土地使用权并投资建 设项目的议案》，同意公司及/或子公司拟以自有资金、银行贷款或其他融资方 式，在安徽省合肥市长丰县建设绿色可降解制品生产基地项目（以下简称"本 次投资"），项目投资总额不超过人民币5.05亿元（含建设用地使用权出让价 款，最终项目投资总额以实际投资为准）；具体投资额度和投资方案将根据项 目的实际规模布局、项目用地和环境容量等情况进行调整。同意公司及/或子公 司经营管理层就上述事项办理与当地政府签协议、土地摘牌、项目建设、环评 等相关手续。 根据《深圳证券交易所创业板股票上市规则》和《合肥恒鑫生活科技股份 有限公司章程》（以下简称《公司章程》）等相关规定，本次投资在公司董事 会审议权限内，无需 ...

Investment Rating - The report provides a positive outlook on various sectors, indicating a stable recovery in the home furnishing and paper packaging sectors, while new tobacco and packaging sectors show robust growth [3][4]. Core Insights - The home furnishing sector is expected to see marginal improvement in domestic demand due to government support for consumption upgrades, with a focus on companies with high dividend yields and growth certainty for 2025 [5][10]. - The new tobacco sector is experiencing growth, particularly in heated tobacco products (HTP), with significant sales increases reported in Europe and a growing user base for IQOS [11]. - The paper packaging sector is facing a gradual recovery in pulp prices, with a focus on companies that maintain strong market positions and high dividends [12]. - The light consumer goods and pet food sectors are under pressure, but there are opportunities in innovative product launches and channel expansion [15]. - The two-wheeler sector is poised for a rebound with government subsidies and new standards expected to drive demand [16][17]. Summary by Sections Home Furnishing - Domestic sales are expected to improve due to government initiatives, with a focus on companies with strong growth prospects and high dividends [5][10]. - Export figures show a slight increase in June, but a cumulative decline for the first half of the year [10]. New Tobacco - HNB sales increased by 10.5% year-on-year, with a growing user base for IQOS [11]. - The regulatory environment in the U.S. is tightening, which may benefit compliant market players [11]. Paper Packaging - Pulp prices have shown slight increases, but overall market conditions remain challenging [12]. - Companies with strong market positions and dividend policies are recommended for investment [12]. Light Consumer Goods & Pet Food - The sector is facing challenges, but there are opportunities in new product launches and expanding distribution channels [15]. - Online sales data indicates mixed performance across different product categories [23]. Two-Wheeler - The sector is expected to benefit from government subsidies and new regulations, with a focus on companies that can leverage these changes for growth [16][17]. - Recent data shows a significant number of electric bikes being replaced under the subsidy program [26][27].

Basic Information - Hefei Hengxin Life Technology Co., Ltd. has agreed to a capital increase and related party transaction involving Hainan Hengxin Life Technology Co., Ltd. and Wuhan Hengxin Life Technology Co., Ltd. [1] - Hainan Hengxin's registered capital will increase from 60 million yuan to 68 million yuan, with the company subscribing to the entire new capital at a price of 1 yuan per share, totaling 8 million yuan [1][2] - Wuhan Hengxin's registered capital will also increase from 60 million yuan, with the company subscribing to the entire new capital, and other shareholders waiving their preemptive rights [1][2] Business Operations - Wuhan Hengxin will engage in various projects including technology services, new materials technology research and development, and manufacturing of bio-based materials and plastic products [2] - Hainan Hengxin will focus on the production of container tools, packaging printing, and various manufacturing and sales of plastic and paper products, as well as bio-based materials [2]

具体内容详见2025年6月9日披露于巨潮资讯网（www.cninfo.com.cn）相关公 告。 现海南恒鑫和武汉恒鑫已经办理完成工商变更登记手续，并取得对应营业执 照，具体情况如下： 二、新取得营业执照基本信息 证券代码：301501 证券简称：恒鑫生活 公告编号：2025-029 合肥恒鑫生活科技股份有限公司 关于控股子公司完成工商变更登记并换发营业执照的公告 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、基本情况 2025年6月6日，公司第二届董事会第六次会议审议通过《关于受让海南恒鑫 生活科技有限公司认缴出资额及增资暨关联交易的议案》和《关于对武汉恒鑫生 活科技有限公司增资暨关联交易的议案》，一致同意：1、海南佳昕新材料投资 有限公司将对海南恒鑫生活科技有限公司（简称"海南恒鑫"）认缴出资额360万 元(占海南恒鑫当前注册资本的比例6%，实缴出资额0元)的出资义务以0元的价格 转让给公司，公司同意受让。同时，公司拟对海南恒鑫进行增资，海南恒鑫的注 册资本由6,000万元增加至6,800万元，每一元新增注册资本的认购价格为1元，总 认购款800万元， ...

Investment Rating - The report initiates coverage with a "Buy" rating for the company [4][6]. Core Viewpoints - The company is a leading manufacturer of biodegradable food service products in China, showing steady growth in performance driven by increasing demand and capacity expansion [1][3]. - The biodegradable materials market is expected to grow significantly due to the implementation of plastic restriction policies and rising consumer demand in the food service industry [2][44]. - The company has established a comprehensive production capability and a strong customer base, positioning itself well to capitalize on market opportunities [3][39]. Company Overview - The company focuses on the research, production, and sales of biodegradable products, with multiple production bases across China [1][12]. - It has developed a robust technical system for PLA material applications, enhancing its competitive edge in the market [3][38]. - The company has formed stable partnerships with numerous well-known brands, including Starbucks and McDonald's, which strengthens its market presence [3][39]. Financial Performance - The company’s revenue is projected to grow at a CAGR of 39.2% from 2020 to 2024, with net profit expected to grow at a CAGR of 70.6% during the same period [1][22]. - Revenue is expected to reach 1,900.67 million yuan in 2025, with a net profit of 257.77 million yuan [5]. - The company’s gross margin has remained stable, with net profit margin increasing from 11.3% in 2021 to 14.2% in 2024 [35]. Industry Insights - The food service industry in China is projected to reach a retail sales total of 5.57 trillion yuan in 2024, with a growth rate of 5.3% [2][48]. - The demand for biodegradable materials in food service products is expected to rise as the penetration rate remains low and environmental policies become stricter [2][44]. - The market for new-style tea and coffee is growing rapidly, with a CAGR of 11.5% from 2019 to 2024, indicating strong potential for the company’s products [2][49]. Production Capacity and Global Strategy - The company has a production capacity of 9 billion units of paper and plastic food service products and is expanding its global footprint with a new factory in Thailand [3][43]. - The establishment of the Thailand factory is expected to optimize the company's global supply chain and mitigate tariff impacts [3][43]. Profitability Forecast and Valuation - The company is expected to achieve net profits of 2.58 billion yuan, 3.12 billion yuan, and 3.74 billion yuan from 2025 to 2027, with corresponding P/E ratios of 34, 28, and 24 [4][58]. - The target price range for the company is set between 63.2 and 67.5 yuan based on comparable company valuation methods [4].

证券代码：301501 证券简称：恒鑫生活 公告编号：2025-028 合肥恒鑫生活科技股份有限公司 关于控股子公司竞拍取得土地使用权暨对外投资的进展公告 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、项目投资情况 合肥恒鑫生活科技股份有限公司（以下简称"公司"）于2023年3月23日召 开第一届董事会第九次会议、2023年4月13日召开的2022年年度股东大会，审议 通过了《关于公司子公司上海宜可环保科技有限公司参与土地竞拍的议案》，同 意：为实现公司产业布局，公司子公司上海宜可环保科技有限公司拟在上海市金 山区朱泾镇竞拍约53亩地，预计交易金额不超过人民币6,000万元。该土地取得 后，计划建设包装制品制造建设项目（项目具体名称以当地政府备案为准），预 计该项目总投资不超过5亿元。同意上海宜可环保科技有限公司经营管理层就上 述事项与当地政府沟通，并办理项目备案、签署相关协议、土地竞拍以及项目建 设、项目实施等相关手续。 二、项目投资进展情况 近日，公司控股子公司上海宜可环保科技有限公司竞得上海市金山区规划和 自然资源局挂牌出让的宗地编号为"金山区JSS ...

Group 1 - Tiande Yu achieved a net profit of 1.52 billion yuan in the first half of 2025, a year-on-year increase of 50.89% [1] - Tiande Yu's operating income for the same period was 12.08 billion yuan, reflecting a growth of 43.35% year-on-year [1] - Fule New Materials plans to reduce its shareholding by up to 1.33%, amounting to 376.25 million shares, due to personal funding needs [1] - Jindi Co. signed an industrial project investment contract with a total investment of no less than 1.5 billion yuan [1] Group 2 - Tuo Xin Pharmaceutical intends to invest 10 million yuan in Jiangsu Jinsan Biotechnology, acquiring a 1.75% stake [1] - Pinming Technology expects a net profit of 28 million to 34 million yuan for the first half of 2025, a year-on-year increase of 231.79% to 302.89% [4] - Shuanglin Co. anticipates a net profit of 251 million to 310 million yuan, representing a growth of 1% to 25% year-on-year [7] Group 3 - Kangxino received approval for clinical trials of its trivalent poliovirus vaccine [8] - Bailian Co. signed a land storage compensation contract worth approximately 2 billion yuan [9] - Wukuang Development plans to issue short-term financing bonds and medium-term notes totaling up to 2 billion yuan each [10] Group 4 - Hengxin Life intends to invest 10 million yuan in a targeted equity investment [12] - Hengyin Technology expects a net profit of 13.5 million to 16.2 million yuan, marking a turnaround from losses [14] - *ST Jinglun anticipates a net loss of 19 million to 22 million yuan for the first half of 2025 [15] Group 5 - Baiyun Electric won a bid for a State Grid project worth 164 million yuan [16] - Zhejiang Energy completed a power generation of 788.48 billion kWh in the first half of 2025, a year-on-year increase of 4.48% [17] - Sheneng Co. reported a power generation of 259.51 billion kWh, a decrease of 1.7% year-on-year [19] Group 6 - Hengerd signed a strategic cooperation framework agreement with Tiangong International [21] - Baotai's application for the listing of Golimumab injection has been accepted by the FDA [23] - Yishitong received a government subsidy of 2 million yuan [24] Group 7 - Jinggong Steel signed a contract worth approximately 550 million yuan for the Jeddah Stadium project in Saudi Arabia [26] - Zhongwang Software received a government subsidy of 28 million yuan [27] - Rongxin Culture used idle funds of 100 million yuan to purchase financial products [29] Group 8 - Lingxiao Pump Industry invested 80 million yuan in financial products [31] - China Pacific Insurance reported a total original insurance premium income of 282 billion yuan from its subsidiaries [32] - Kema Technology expects a net profit of 165 million to 175 million yuan, a year-on-year increase of 18.59% to 25.77% [32] Group 9 - Qujiang Cultural Tourism anticipates a net loss of approximately 13 million to 16.9 million yuan [32] - Daoshi Technology expects a net profit of 220 million to 238 million yuan, a year-on-year increase of 98.77% to 115.03% [32] - Baicheng Medicine forecasts a net profit decline of 95.53% to 100% [33] Group 10 - Bertley plans to invest 198 million yuan to establish a partnership for investments in emerging fields [34] - China Merchants Highway announced the resignation of its chairman due to reaching retirement age [35] - Overseas Chinese Town A reported a 29% decrease in contract sales amount in June [36]

证券代码：301501 证券简称：恒鑫生活 公告编号：2025-027 合肥恒鑫生活科技股份有限公司 关于与专业投资机构共同投资的公告 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。 重要内容提示： 1、合肥恒鑫生活科技股份有限公司（以下简称"公司"或者"恒鑫生 活"）拟向共青城金螭创业投资合伙企业（有限合伙）（以下简称"共青城金 螭"）认缴出资人民币1000万元。 2、共青城金螭投资方向为单一投资标的，即对山东泰乐源食品科技股份有 限公司（以下简称"泰乐源"）进行定向股权投资，存在单一投资标的风险；且 具有投资周期较长、流动性较低的特点，投资效益存在不确定性等风险。 3、根据《深圳证券交易所创业板股票上市规则》《深圳证券交易所上市公 司自律监管指引第7号——交易与关联交易》《合肥恒鑫生活科技股份有限公司 章程》（以下简称"《公司章程》"）等相关规定，本次共同投资无需提交公 司董事会、股东会审议，不构成同业竞争和关联交易，亦不构成《上市公司重 大资产重组管理办法》规定的重大资产重组。 一、与专业投资机构共同投资概述 根据公司战略规划的需要，为进一步拓展公司业务领 ...