A 股股票代码：600356 证券简称：恒丰纸业 上市地点：上海证券交易所 牡丹江恒丰纸业股份有限公司 发行股份购买资产暨关联交易报告书（草案） （修订稿） | 项目 | 交易对方名称 | | --- | --- | | 发行股份购买资产 | 四川福华竹浆纸业集团有限公司 | | | 张华 | 独立财务顾问 二〇二五年十一月 牡丹江恒丰纸业股份有限公司发行股份购买资产暨关联交易报告书（草案）（修订稿） 声 明 本部分所述词语或简称与本重组报告书"释义"所述词语或简称具有相同 含义。 一、上市公司声明 公司及全体董事和高级管理人员在本次重组过程中提供的有关信息真实、 准确和完整，不存在任何虚假记载、误导性陈述或者重大遗漏，并对所提供信 息的真实性、准确性和完整性承担个别和连带的法律责任。如因提供的信息存 在虚假记载、误导性陈述或重大遗漏，给公司或者投资者造成损失的，将依法 承担赔偿责任。 公司及全体董事和高级管理人员将及时提交本次重组所需的文件及资料， 同时承诺所提供纸质版和电子版资料均真实、完整、可靠，有关副本材料或者 复印件与原件一致，文件上所有签字与印章皆真实、有效，复印件与原件相符。 公司全体董事和高级 ...

录 | 一、关于交易目的和整合管控………………………………………………………第 1―17 页 | | --- | | 二、关于标的公司历史沿革 … | | 三、关于业务模式和收入… | | 四、关于采购与成本… | | 五、关于毛利率和盈利水平 | | 六、关于固定资产和在建工程 …………………………………………第 157—187 页 | | 七、关于偿债风险… | | 八、资质证书复印件 | 关于牡丹江恒丰纸业股份有限公司 发行股份购买资产暨关联交易申请的审核问询函中 有关财务事项的说明(修订稿) 天健函〔2025〕7-126 号 上海证券交易所: 我们已对《关于牡丹江恒丰纸业股份有限公司发行股份购买资产暨关联交易 申请的审核问询函》(上证上审(并购重组)(2025)49号,以下简称审核问 询函)所提及的牡丹江恒丰纸业股份有限公司(以下简称恒丰纸业或上市公司)、 标的资产四川锦丰纸业股份有限公司(以下简称锦丰纸业或标的公司)财务事项 进行了审慎核查,并出具了《关于牡丹江恒丰纸业股份有限公司发行股份购买资 产暨关联交易申请的审核问询函中有关财务事项的说明》(天健函〔2025〕7-87 号）。因锦丰纸业补充了最 ...

股票代码：600356 股票简称：恒丰纸业 编号：2025-046 牡丹江恒丰纸业股份有限公司 关于发行股份购买资产暨关联交易报告书(草案)(修订 稿)及审核问询函回复的修订说明公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大 遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 牡丹江恒丰纸业股份有限公司（以下简称："公司"）拟通过发行股份的方式 购买四川锦丰纸业股份有限公司 100%股权（以下简称："本次交易"）。本次交 易不构成《上市公司重大资产重组管理办法》规定的重大资产重组，不会导致公司 实际控制人发生变更，不构成重组上市，构成关联交易。 特此公告。 公司收到上海证券交易所出具的《关于牡丹江恒丰纸业股份有限公司发行股份 购买资产暨关联交易申请的审核问询函》（上证上审（并购重组）〔2025〕49 号） （以下简称"《审核问询函》"），并于 2025 年 8 月 30 日披露了《关于牡丹江恒 丰纸业股份有限公司发行股份购买资产暨关联交易申请的审核问询函之回复报告》 及相关文件，具体内容详见上海证券交易所网站（www.sse.com.cn）披露的相关公 告。 一、重 ...

股票代码：600356 股票简称：恒丰纸业 编号：2025-049 牡丹江恒丰纸业股份有限公司 （四）会议应出席董事 9 人，实际出席董事 9 人。 二、董事会会议审议情况 十一届董事会第十四次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大 遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 一、董事会会议召开情况 （一）牡丹江恒丰纸业股份有限公司第十一届董事会第十四次会议，符合《公 司法》、《证券法》和《公司章程》等有关法律、法规的规定。 （二）牡丹江恒丰纸业股份有限公司于 2025 年 11 月 17 日以书面形式和电子 邮件等方式，向公司各位董事，发出召开公司第十一届董事会第十四次会议的通知。 （三）2025 年 11 月 28 日以通讯表决的方式召开了此次会议。 经与会董事认真审阅，审议通过了以下决议： （一）逐项审议通过《关于调整发行股份购买资产暨关联交易方案的议案》 公司拟通过发行股份购买资产的方式，收购四川福华竹浆纸业集团有限公司 （以下简称"竹浆纸业"）、张华持有的四川锦丰纸业股份有限公司（以下简称"锦 丰纸业"）100%股权（以下简称"本次 ...

中银国际证券股份有限公司关于牡丹江恒丰纸业股份有限 公司发行股份购买资产项目变更签字会计师的专项说明 上海证券交易所： 基本情况：牡丹江恒丰纸业股份有限公司（以下简称"上市公司"）于 2025 年 6 月 11 日向贵所提交申请，于 2025 年 6 月 27 日被受理。中银国际证券股份 有限公司（以下简称"本独立财务顾问"）接受上市公司委托，担任其发行股份购 买资产（以下简称"本次交易"）的独立财务顾问。本次变更前，签字会计师为谢 军、刘恺，现拟变更为燕玉嵩、刘恺。 一、变更事由 原担任恒丰纸业公司本次交易申请的签字会计师谢军截至 2024 年 12 月 31 日已连续 5 年为上市公司提供审计服务，根据《关于证券期货审计业务签字注册 会计师定期轮换的规定》，故不再担任上市公司签字会计师，亦不能签署本次交 易上市公司备考审阅报告及包含备考审阅报告财务数据的反馈问询回复等相关 核查意见。经核查，上述变更事由属实。 二、变更后签字人员基本情况 签字注册会计师燕玉嵩：于 2014 年 12 月成为中国注册会计师，会计师执业 证编号：110101300477，于 2011 年 1 月开始从事上市公司审计工作，于 2 ...

证券之星消息，11月28日造纸板块较上一交易日下跌0.38%，恒丰纸业领跌。当日上证指数报收于 3888.6，上涨0.34%。深证成指报收于12984.08，上涨0.85%。造纸板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 600235 | 民丰特纸 | 6.90 | 1.62% | 5.50万 | | 3744.90万 | | 600433 | 冠蒙高新 | 3.26 | 1.56% | 17.24万 | | 5562.80万 | | 605500 | 标林包装 | 8.98 | 1.01% | 2.58万 | | 2300.53万 | | 603733 | 仙鶴股份 | 23.00 | 1.01% | 2.08万 | | 4790.45万 | | 603165 | 荣晟环保 | 12.90 | 0.78% | 1.86万 | | 2388.01万 | | 920394 | 民士达 | 36.18 | 0.61% | 8379.25 | | 3020.3 ...

Market Overview - A-shares experienced a strong upward movement during the day but retreated in the afternoon, with the Shanghai Composite Index closing up 0.29%, while the Shenzhen Component Index and ChiNext Index fell by 0.25% and 0.44% respectively [1] - The total trading volume in the Shanghai and Shenzhen markets was 1.72 trillion yuan, a decrease of 740 billion yuan compared to the previous trading day [1] - Over 2,700 stocks rose across the market, indicating a rapid rotation of market hotspots [1] Sector Performance - The lithium battery electrolyte concept saw a rebound, with stocks like Shida Shenghua hitting the daily limit [1][6] - The computing power chip sector was active, with Saiwei Electronics rising over 15% [1] - The consumer electronics sector remained strong throughout the day, with Yunzuka Technology hitting the daily limit [1] - The paper sector showed significant gains, with an overall increase of over 2%, driven by price hikes in various paper products [4] - Other sectors such as forestry, daily chemicals, chemical products, and chemical fibers also performed well [5] Specific Company Developments - Xi'an Catering's stock surged, reaching the daily limit after the announcement of 16 measures by the Shaanxi provincial government to deepen capital market reforms [2] - The company focuses on a dual-driven strategy of "catering main business + food industry," emphasizing regional specialty cuisine and food production [3] - Major paper companies have announced price increases for various paper types, benefiting from improved demand and supply-side adjustments [4][6] - Leading electrolyte companies are experiencing a surge in orders, with some contracts extending to 2028, indicating strong future demand [7]

Group 1: A-Share Market Performance - A-share market experienced a strong upward movement during the day but saw a pullback in major indices in the afternoon, with the Shanghai Composite Index rising by 0.29% while the Shenzhen Component and ChiNext indices fell by 0.25% and 0.44% respectively [4] - The paper industry sector led the gains, with an overall increase of over 2%, and individual stocks such as Annie Co., Qifeng New Materials, Bohui Paper, and Hengfeng Paper seeing gains exceeding 5% [4][3] - Recent announcements from several major pulp and paper companies regarding price increases for various paper products have contributed to the positive sentiment in the sector [4] Group 2: Hong Kong Market Dynamics - The Hong Kong market showed narrow fluctuations, with the Hang Seng Index oscillating around the 26,000-point mark [9] - Notable gains were observed in trendy toy stocks, including Pop Mart and Blok, which surged by nearly 7% following favorable policy announcements aimed at enhancing consumer goods supply [10][11] - However, the market also witnessed significant volatility, exemplified by the sharp decline of China Shangcheng, which saw its stock price plummet by over 70% at one point, closing down more than 50% [12][8] Group 3: Commodity Market Trends - The futures market saw a significant rise in tin futures, with the main contract breaking through the 300,000 yuan per ton mark, achieving a gain of over 2% [15][14] - Other futures, such as silver and egg futures, also experienced substantial price increases, while commodities like lithium carbonate, asphalt, and polysilicon saw varying degrees of adjustment [16]

Group 1: Market Performance - The three major indices showed mixed results, with the Shanghai Composite Index up by 0.29%, while the Shenzhen Component Index and the ChiNext Index fell by 0.25% and 0.44% respectively [2] - Over 2,700 stocks rose in the two markets, with a total trading volume of approximately 1.71 trillion yuan [2] Group 2: Lithium Battery Sector - The lithium battery sector rebounded, with significant gains in stocks such as Huasheng Lithium Battery (up over 15%) and Penghui Energy (up over 14%) [2] - Prices of key lithium battery electrolyte components, including lithium hexafluorophosphate and ethylene carbonate, have been rising [2] - CITIC Construction Investment Securities predicts that excess profits in the energy storage downstream investment operation will be passed upstream through price increases, indicating a resilient lithium battery industry chain [2] Group 3: Paper Industry - The paper industry remains active, with companies like Qifeng New Materials and Bohui Paper experiencing substantial gains [2] - Driven by e-commerce stocking demands, the operating rates of paper companies are high, and prices for corrugated and boxboard paper continue to rise [3] - White cardboard prices have also been increasing, supported by high costs and low inventory levels [3] Group 4: Photovoltaic Sector - Photovoltaic concept stocks are performing well, with Mingguan New Materials rising by 20% and Saiwu Technology by 10% [4] - The outlook for the electric new industry remains positive, with expectations of supply-side adjustments and battery technology upgrades creating new opportunities [5] - The Chinese government's commitment to energy transformation is expected to accelerate demand improvements in the photovoltaic sector [5] Group 5: Consumer Electronics - The consumer electronics sector is showing strong performance, with companies like Yunzuka Technology rising by 20% [6] - Alibaba's launch of its first self-developed flagship AI glasses is seen as a significant step in integrating digital and physical worlds [6] Group 6: Weak Sectors - The film and cultural media sectors are experiencing declines, with Shanghai Film dropping over 7% [6] - Some pharmacy-related stocks are also weakening, indicating a broader trend of underperformance in these sectors [6]

Group 1: A-share Market Performance - A-share market showed strong upward movement during the day but retreated in the afternoon, with the Shanghai Composite Index closing up 0.29% while the Shenzhen Component and ChiNext Index fell by 0.25% and 0.44% respectively [3] - The paper industry sector led the gains, with the sector rising over 2%, and individual stocks like Annie Co. (002235) hitting the daily limit, while others like Qifeng New Material (002521), Bohui Paper (600966), and Hengfeng Paper (600356) saw increases exceeding 5% [3] Group 2: Paper Industry Insights - Several well-known domestic pulp and paper companies have recently announced price increases for various paper products, including kraft paper and corrugated paper [3] - Daitong Securities noted that the paper industry is benefiting from a "price increase bonus, demand improvement, and structural upgrade," with continued demand for packaging paper and special paper benefiting from environmental policies and consumption upgrades [3] - The valuation of the paper sector is at historical lows, and the ongoing industry transformation presents long-term growth potential, enhancing its investment appeal [3] Group 3: Hong Kong Market Dynamics - The Hong Kong market experienced narrow fluctuations, with the Hang Seng Index oscillating around the 26,000-point mark [2][7] - Notable gains were seen in trendy toy stocks, including Pop Mart and Blok, which rose nearly 7% and over 7% respectively, driven by favorable policy announcements aimed at enhancing consumer goods supply and promoting interest-based consumption [8][9] - However, there was a significant stock price crash for China Shangcheng, which saw a drop of over 70% at one point, closing down more than 50% [2][10] Group 4: Futures Market Activity - In the futures market, Shanghai tin futures surged, with the main contract breaking through the 300,000 yuan per ton mark, achieving a rise of over 2% [12] - Other futures contracts, such as silver and egg futures, also saw significant price increases, while contracts for lithium carbonate, asphalt, and polysilicon experienced varying degrees of adjustment [12]