- The report provides a detailed analysis of the convertible bond market performance over the week from September 28, 2025, to September 30, 2025, highlighting the weekly price changes of various convertible bonds and their underlying stocks[1][7][17] - The report includes a comprehensive valuation analysis of convertible bonds, detailing the number of bonds within different price ranges and their respective median conversion premium rates[32][38][39] - The report tracks the terms of convertible bonds, noting the number of bonds that have triggered downward revision clauses and those that may trigger conditional redemption clauses in the upcoming week[42]

Core Viewpoint - Jingxing Paper (002067.SZ) has conducted a share buyback, acquiring a total of 1,293,300 shares, which represents 0.0910% of the company's total share capital, at prices ranging from 3.47 to 3.60 CNY per share, totaling 4,574,147.00 CNY excluding transaction fees [1] Summary by Sections - **Share Buyback Details** - The company has repurchased 1,293,300 shares through centralized bidding [1] - The highest transaction price was 3.60 CNY per share, while the lowest was 3.47 CNY per share [1] - The total amount spent on the buyback was 4,574,147.00 CNY, excluding transaction fees [1] - **Funding and Compliance** - The funds for the buyback were sourced from the company's own capital [1] - The buyback price did not exceed the upper limit of 4.00 CNY per share as outlined in the buyback plan [1] - The buyback complies with relevant laws and regulations and aligns with the company's established buyback plan [1]

证券代码：002067 证券简称：景兴纸业 公告编号：临 2025-076 浙江景兴纸业股份有限公司 关于回购公司股份的进展公告 一、回购股份的具体情况 截至2025年9月30日，公司股份回购专用证券账户以集中竞价交易方式累计回 购公司股份1,293,300股，占公司总股本的0.0910%，最高成交价为3.60元/股，最 低成交价为3.47元/股，成交总金额为4,574,147.00元（不含交易费用）。本次回 购股份的资金来源为公司自有资金，回购价格未超过回购方案中确定的价格上限 4.00元/股。本次回购符合相关法律法规的要求，符合公司既定的回购方案。 二、其他说明 1.公司回购股份的时间、回购的股份数量、回购股份价格及集中竞价交易的委 托时段符合《深圳证券交易所上市公司自律监管指引第9号——回购股份》的相关 规定。公司未在下列期间内回购股票： 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。 浙江景兴纸业股份有限公司（以下简称"公司"）于2024年10月30日召开八届 董事会第十次会议及八届监事会第九次会议，于2024年11月19日召开2024年第二次 临时股 ...

| 证券代码：002067 | 证券简称：景兴纸业 | 编号：临 2025-075 | | --- | --- | --- | | 债券代码：128130 | 债券简称：景兴转债 | | 浙江景兴纸业股份有限公司 关于 2025 年第三季度可转债转股情况的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 特别提示： 根据《浙江景兴纸业股份有限公司公开发行 A 股可转换公司债券募集说明书》， 本次发行的可转债转股期自可转债发行结束之日（2020 年 9 月 4 日）起满 6 个月后 | | | 债券代码：128130 债券简称：景兴转债 转股价格：3.39 元/股 转股期限：2021 年 3 月 4 日至 2026 年 8 月 30 日 一、可转债发行上市概况 （一）可转债发行情况 经中国证券监督管理委员会"证监许可〔2020〕1345 号"文核准，浙江景兴纸 业股份有限公司（以下简称"公司"）于 2020 年 8 月 31 日公开发行了 1,280.00 万 张可转换公司债券，每张面值 100 元，发行总额 12.8 亿元。本次发行的可转债向公 司在股权登 ...

| 证券代码：002067 | 证券简称：景兴纸业 | 编号：临 2025-074 | | --- | --- | --- | | 债券代码：128130 | 债券简称：景兴转债 | | 浙江景兴纸业股份有限公司 关于提前赎回"景兴转债"的第六次提示性公告 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。 特别提示： 1."景兴转债"赎回价格：100.290 元/张（含当期应计利息，当期年利率为 2.0%，且当期利息含税），扣税后的赎回价格以中国证券登记结算有限责任公司深 圳分公司（以下简称"中登公司"）核准的价格为准。 2.赎回条件满足日：2025 年 9 月 23 日 3.停止交易日：2025 年 10 月 20 日 4.赎回登记日：2025 年 10 月 22 日 5.停止转股日：2025 年 10 月 23 日 6.赎回日：2025 年 10 月 23 日 7.赎回资金到账日（到达中登公司账户）：2025 年 10 月 28 日 8.投资者赎回款到账日：2025 年 10 月 30 日 9.赎回类别：全部赎回 10.最后一个交易日可转债简称：Z 景转债 ...

Core Viewpoint - The article highlights the increasing scrutiny and regulatory measures by Chinese authorities regarding the import of recycled paper pulp, particularly in light of past incidents involving the importation of solid waste disguised as recycled materials [4][6][7]. Group 1: Regulatory Actions - The General Administration of Customs (GAC) and the China Paper Association are working to improve standards and strengthen customs supervision related to imported recycled paper pulp [4][5]. - A meeting will be held to discuss the current situation of recycled paper pulp imports, production processes, and the associated risks, with participation from industry experts and representatives from major paper companies [5][6]. Group 2: Import Incidents - Since 2021, there have been multiple cases of customs discovering solid waste imported under the guise of recycled paper pulp, leading to the return of over 7,000 tons of non-compliant materials [6][7]. - A recent seizure by the Qingdao Customs involved 746.78 tons of solid waste falsely declared as recycled paper pulp, underscoring ongoing issues with compliance [6][7]. Group 3: Production Processes and Risks - The article discusses the differences between dry and wet pulping processes, emphasizing that dry pulping skips essential purification steps, leading to potential contamination with harmful substances [10][11]. - Experts warn that contaminants from improperly processed recycled materials can pose significant health risks, including microbial contamination and heavy metal residues [10][11]. Group 4: Industry Standards and Recommendations - There is a strong call within the industry for stricter standards and regulations regarding the import of dry pulping products, including mandatory testing for contaminants and performance metrics [11][12]. - Suggestions include revising the national standard for recycled paper pulp to include specific requirements for fiber quality and contamination limits [11].

Core Viewpoint - The article highlights the increasing scrutiny and regulatory measures by Chinese authorities regarding the import of recycled paper pulp, particularly in light of past incidents where solid waste was misclassified as recycled pulp [3][5][6]. Regulatory Developments - The General Administration of Customs (GAC) is organizing a meeting to discuss the import of recycled paper pulp, involving industry representatives and experts to address safety and regulatory concerns [4][5]. - The GAC has reiterated its stance against the import of foreign solid waste, emphasizing a complete ban on such practices since January 1, 2021 [6][8]. Industry Challenges - There have been multiple cases of solid waste being imported under the guise of recycled paper pulp, with significant quantities being rejected and returned by customs [5][6]. - The article discusses the risks associated with the dry grinding method of producing recycled paper pulp, which bypasses essential purification processes, leading to contamination with harmful substances [8][10]. Expert Opinions - Experts from various institutions have raised concerns about the quality and safety of dry ground recycled paper pulp, noting that it often contains pollutants such as plastics, heavy metals, and microorganisms that pose health risks [8][10]. - There is a strong call within the industry for stricter standards and regulations to ensure the safety and quality of imported recycled paper pulp, with suggestions for mandatory indicators and enhanced testing protocols [10][11].

Core Viewpoint - The Chinese customs authority has clearly stated a ban on the import of foreign waste, particularly focusing on the regulation of recycled paper pulp imports, following heightened attention from industry stakeholders and media reports [1] Group 1: Regulatory Actions - The General Administration of Customs and the China Paper Association are working to improve relevant standards and strengthen customs supervision regarding recycled paper pulp [1] - A working seminar on imported recycled paper pulp will be held, involving representatives from various paper companies, industry associations, and experts [1] Group 2: Industry Concerns - The seminar will address the current situation of recycled paper pulp imports by Chinese paper companies, production processes (dry and wet pulping), and their respective proportions [2] - Discussions will include the risks associated with radioactive materials, heavy metals, hazardous waste, and public health safety related to imported recycled paper pulp [2] - Stakeholders will provide opinions and suggestions on ensuring the safety and stability of the recycled paper pulp supply chain, revising relevant standards, and enhancing regulatory measures [2]

Core Viewpoint - The recent reports on "recycled pulp" have garnered significant attention from authorities, leading to the Customs General Administration and the China Paper Association to enhance standards and strengthen customs supervision [1][5]. Group 1: Regulatory Actions - The Customs General Administration is organizing a seminar to discuss the importation of recycled pulp, involving industry representatives and experts [1][2]. - The seminar will focus on the current situation of recycled pulp imports, production processes, and associated risks, including contamination and public health concerns [2][9]. - Since 2021, there have been multiple cases of solid waste being imported under the guise of recycled pulp, with significant quantities being returned [4][5]. Group 2: Industry Practices - Some paper companies have been circumventing regulations by importing shredded waste paper as recycled pulp, undermining the effectiveness of the waste ban [5][7]. - The dry grinding process used for producing recycled pulp skips essential purification steps, leading to potential contamination with harmful substances [7][8]. Group 3: Expert Recommendations - Experts are advocating for stricter standards in the revised "Recycled Pulp" regulations, including mandatory indicators for fiber quality and contamination detection [9]. - There is a strong call within the industry to enhance the standards for imported dry-processed recycled pulp to eliminate substandard products [8][9].

Core Viewpoint - The Chinese customs authority and the China Paper Association are taking steps to strengthen regulations and standards regarding the import of recycled pulp, particularly to prevent the entry of foreign waste disguised as recycled materials [1][2]. Group 1: Regulatory Actions - The General Administration of Customs (GAC) is organizing a seminar to discuss the current situation of recycled pulp imports, focusing on production processes and associated risks [2]. - The GAC has a clear stance against the import of foreign waste, emphasizing a ban on any form of foreign waste entering China [1][2]. - Since 2021, there have been multiple cases of customs seizing shipments falsely declared as recycled pulp, highlighting ongoing issues with compliance [2][3]. Group 2: Industry Concerns - Experts express concerns about the dry grinding method used in producing recycled pulp, which skips essential purification processes, leading to potential contamination [6][7]. - The lack of proper processing in dry grinding can result in the presence of harmful contaminants such as plastics, heavy metals, and microorganisms, posing risks to public health and safety [6][7]. - There is a strong call within the industry for improved standards and regulations to ensure the quality and safety of imported recycled pulp [7][8]. Group 3: Historical Context - Since the implementation of the waste ban in 2021, there have been reports of foreign waste still entering China under the guise of recycled pulp, undermining the effectiveness of the ban [4][5]. - Specific incidents have been documented where shipments of substandard recycled pulp were rejected and returned, indicating ongoing challenges in enforcement [3][4].