证券代码：600356 证券简称：恒丰纸业 公告编号：2025-025 牡丹江恒丰纸业股份有限公司 2024年年度股东大会决议公告 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法律责任。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东大会召开的时间：2025 年 5 月 19 日 (二)股东大会召开的地点：公司第一会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： 1、 议案名称：审议《关于公司 2024 年度董事会工作报告的议案》 审议结果：通过 表决情况： | 股东类型 | 同意 | | 反对 | | 弃权 | | | --- | --- | --- | --- | --- | --- | --- | | | 票数 | 比例（%） | 票数 | 比例 | 票数 | 比例 | | | | | | （%） | | （%） | | A 股 | 100,635,824 | 99.2011 | 796,601 | 0.7852 | 13,800 | 0.0137 | | 1、出席会 ...

Core Viewpoint - The Shanghai Stock Exchange's main board shows strong resilience and stability in 2024, supported by a series of incremental policies, with significant growth in net profits and operational cash flow recovery [1][2]. Financial Performance - In 2024, the main board companies achieved a total operating income of 49.57 trillion yuan, maintaining stability year-on-year; net profit reached 4.35 trillion yuan, with a year-on-year growth of 1.9% [1]. - The annual performance trend was characterized by a decline in net profit of 1% in the first half, followed by a significant recovery with a 5% increase in the second half [2]. - Operating cash flow improved significantly, with a year-on-year growth of 15% in the fourth quarter, restoring to the previous year's level [2]. Industry Transition - Over the past decade, the leading industries on the main board have shifted from traditional sectors like finance and energy to emerging sectors such as automotive and biomedicine, with market capitalization in these sectors reaching 2 trillion yuan and 1.5 trillion yuan respectively [3]. - The proportion of emerging industry companies among the top 50 by market capitalization has increased to 50%, indicating a significant rise in both quantity and market share [3]. Emerging Industries Growth - The number of companies in emerging industries has risen to 40% over the past decade, with net profit compound growth reaching 11%, outperforming traditional industries by 5 percentage points [4]. - Emerging industries are driving the transformation of the economy towards high-quality development, fostering innovation and enhancing the value chain [4]. Corporate Governance and Efficiency - As of 2024, 946 companies on the main board have disclosed "quality improvement and efficiency enhancement" action plans, with nearly 60% of these companies achieving profitability [5]. - The overall dividend scale reached a new high in 2024, with 1,259 companies declaring cash dividends totaling 1.77 trillion yuan, a year-on-year increase of 6% [6]. Market Dynamics - The number of companies implementing share buybacks and major shareholder increases has doubled, with buyback plans disclosed by 400 companies and shareholder increase plans by 380 companies [7]. - The total amount for buybacks and increases reached 843 billion yuan and 537 billion yuan respectively, indicating strong market confidence [7]. Mergers and Acquisitions - In 2024, over 1,500 new merger transactions were recorded on the main board, with a total transaction value exceeding 1.4 trillion yuan, reflecting increased market activity [9]. - The core logic of mergers and acquisitions remains focused on industrial integration and enhancing competitive advantages, with traditional industries restructuring assets and emerging industries expanding their technological capabilities [10]. Capital Market Efficiency - Mergers and acquisitions are seen as key tools for optimizing resource allocation in the capital market, enhancing efficiency and vitality [11]. - Successful restructuring cases can boost investor confidence and attract long-term capital, contributing to the overall improvement of the capital market [11].

股票代码：600356 股票简称：恒丰纸业 编号：2025-024 牡丹江恒丰纸业股份有限公司 关于参加黑龙江辖区上市公司 2025 年投资者 网上集体接待日活动的公告 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。 为进一步加强与投资者的互动交流，牡丹江恒丰纸业股份有限公司（以下简 称"公司"）将参加由黑龙江省上市公司协会与深圳市全景网络有限公司联合举 办的"2025 年黑龙江辖区上市公司投资者集体接待日活动"，现将相关事项公 告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net）；或关注微信公众号（名称：全景财经）；或下载全景 路演 APP,参与本次互动交流。活动时间为 2025 年 5 月 14 日（周三）14:00-16:30。 届时公司高管将在线就公司 2024 年度业绩、公司治理、发展战略、 经营状况、 融资计划、股权激励和可持续发展等投资者关心的问题，与投资者进行沟通与交 流，欢迎广大投资者踊跃参与！ 特此公告。 牡丹江恒丰纸业股份有限公司 2025 ...

证券研究报告 轻工行业24A&25Q1业绩综述： 新消费表现亮眼，补贴链刺激效果初显 分析师：赵中平 执业编号：S1130524050003 分析师：张杨桓 执业编号：S1130522090001 分析师：尹新悦 执业编号：S1130522080004 2025年5月4日 目录 3 1 家居：内销国补刺激效果初显，出口景气度边际有所下行 ➢ 业绩综述 -30% -20% -10% 0% 10% 20% 30% 40% 营收同比增长率(%) 归母净利润同比增长率(%) 01 家居：内销国补刺激效果初显，出口景气度边际有所下行 03 轻工消费宠物潮玩：新消费国货品牌靓丽，多点开花 04 02 造纸：短期盈利压力仍在，资本开支趋缓，优选细分赛道 两轮车：以旧换新助推Q1高景气，产品升级、出海是长期 成长抓手 05 风险提示 01 家居：内销国补刺激效果初显， 出口景气度边际有所下行 图表1：内销家居板块历年营收与净利润同比增长率 图表2：内销家居板块单季度营收与净利润同比增长率 -60% -40% -20% 0% 20% 40% 营收同比增长率(%) 归母净利润同比增长率(%) -20% 0% 20% 40% 60 ...

Core Viewpoint - The Shanghai Stock Exchange's main board companies have shown resilience and stability in their performance, supported by a series of incremental policies, reflecting a robust economic structure in China [1] Group 1: Export Market Diversification - In 2024, companies on the Shanghai main board achieved overseas revenue of 6.09 trillion yuan, a year-on-year increase of 7%, with non-US exports accounting for over 80% [2] - Key export destinations include ASEAN, Africa, and countries involved in the Belt and Road Initiative, with significant growth in sales for companies like SANY Heavy Industry and SAIC Motor [2] - Major construction state-owned enterprises have actively expanded overseas, signing new orders worth 1.87 trillion yuan, a year-on-year increase of 15% [2] Group 2: High-Tech Product Exports - High-tech products such as high-end equipment, integrated circuits, smart home appliances, and electric vehicles have accelerated exports, leading to revenue growth in related industries [3] - Companies like Oriental Cable and Zhaoyi Innovation have made significant strides in international markets, with Zhaoyi Innovation achieving record high shipments [3] - The rise of new business models like cross-border e-commerce has boosted overseas sales for various sectors, including light manufacturing and retail [3] Group 3: Mergers and Acquisitions Activity - From 2024 to the first quarter of 2025, over 1,500 new M&A transactions were recorded on the Shanghai main board, with a total transaction value exceeding 1.4 trillion yuan [4] - Notable M&A cases include Guotai Junan's acquisition of Haitong Securities and China Shipbuilding's proposed merger with China CSSC, each exceeding 100 billion yuan [4] - The trend of private acquisitions and the purchase of quality non-profitable assets has emerged, indicating a shift in M&A strategies [4][5] Group 4: Quality Improvement and Efficiency - By 2024, 946 companies on the Shanghai main board disclosed "quality improvement and efficiency return" action plans, with nearly 60% participation [6] - Among the companies that disclosed plans, nearly 90% achieved profitability, and almost 50% reported performance growth [6] - The total cash dividend announced by 1,259 companies reached 1.77 trillion yuan, a year-on-year increase of 6%, with a dividend payout ratio of 39% [7] Group 5: ESG Reporting and Progress - In 2024, 1,068 companies on the Shanghai main board disclosed ESG reports, achieving a disclosure rate of approximately 63%, an increase of 6 percentage points year-on-year [9] - The number of companies included in the MSCI ESG rating increased, with 90 companies receiving upgrades in their ratings [9] - Companies have actively engaged in social responsibility initiatives, contributing to employment and environmental sustainability [10] Group 6: Index Investment Growth - In 2024, net inflows into ETFs on the Shanghai main board reached nearly 840 billion yuan, with significant participation from foreign capital [11] - The trading volume of ETFs ranked first in Asia, with a total trading amount of nearly 30 trillion yuan [11] - Foreign investment preferences are concentrated in sectors such as banking, food and beverage, and public utilities, indicating a strategic focus on stable industries [12] Group 7: Exit Mechanisms and Risk Mitigation - Since 2025, 19 companies on the Shanghai main board have faced various forms of delisting, with a significant portion resulting from financial issues [13] - The introduction of diverse exit channels, including voluntary delisting and asset restructuring, has become more prominent [13] - Companies have actively taken measures to improve operations and mitigate risks, with several successfully lifting delisting warnings [13]

Group 1 - The company has proposed a profit distribution plan for 2024, which aligns with its profit distribution policy and will be submitted for shareholder approval [2][22][41] - The company's cumulative cash dividends over the last three accounting years exceed 30% of the average annual net profit, thus avoiding potential risk warnings as per the Shanghai Stock Exchange regulations [1] Group 2 - The company has appointed Zhou Zaili as the new general manager, following the departure of Liang Dequan due to work changes [7][8] - Zhou Zaili's term will last until the end of the current board's tenure, and he has extensive experience within the company [11] Group 3 - The company has renewed its engagement with Tianjian Accounting Firm for auditing services, with the audit fees set at 800,000 yuan for 2024 and 900,000 yuan for 2025 [61][63] - The audit committee has confirmed that Tianjian possesses the necessary qualifications and experience to provide auditing services for listed companies [62]

登录新浪财经APP 搜索【信披】查看更多考评等级 公司代码：600356 公司简称：恒丰纸业 第一节 重要提示 1、本年度报告摘要来自年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规划，投 资者应当到www.sse.com.cn网站仔细阅读年度报告全文。 2、本公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真实性、准确性、完整 性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 3、公司全体董事出席董事会会议。 4、天健会计师事务所（特殊普通合伙）为本公司出具了标准无保留意见的审计报告。 5、董事会决议通过的本报告期利润分配预案或公积金转增股本预案 公司拟向全体股东每股派发现金红利0.12元（含税）。截至2024年12月31日，公司总股本298,731,378 股，以此计算合计拟派发现金红利35,847,765.36元（含税）。2024年度,公司实现归属于上市公司股东的 净利润 115,819,658.61 元，本年度公司现金分红总额占比为30.95%。 ■ 2、报告期公司主要业务简介 2024年中国造纸产量为1.58亿吨?，同比增长8.6%，首次突破1.5亿 ...

目 录 | 一、审计报告…………………………………………………………第 | 1—6 | 页 | | --- | --- | --- | | 二、财务报表……………………………………………………… 第 | 7—14 | 页 | | （一）合并资产负债表…………………………………………… | 第 7 | 页 | | （二）母公司资产负债表………………………………………… 第 | 8 | 页 | | --- | --- | --- | | （三）合并利润表………………………………………………… 第 | 9 | 页 | | （四）母公司利润表………………………………………………第 | 10 | 页 | | （五）合并现金流量表……………………………………………第 | 11 | 页 | | （六）母公司现金流量表…………………………………………第 | 12 | 页 | | （七）合并所有者权益变动表……………………………………第 | 13 | 页 | （八）母公司所有者权益变动表…………………………………第 14 页 三、财务报表附注…………………………………………………第 15—88 页 四、资质证书复印件…………… ...

目 录 | | | 二、资质证书复印件……………………………………………第 3—6 页 牡丹江恒丰纸业股份有限公司 内部控制审计报告 天健审〔2025〕7-623 号 牡丹江恒丰纸业股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求，我 们审计了牡丹江恒丰纸业股份有限公司（以下简称恒丰纸业公司）2024 年 12 月 31 日的财务报告内部控制的有效性。 一、企业对内部控制的责任 按照《企业内部控制基本规范》《企业内部控制应用指引》以及《企业内部 控制评价指引》的规定，建立健全和有效实施内部控制，并评价其有效性是恒丰 纸业公司董事会的责任。 二、注册会计师的责任 我们的责任是在实施审计工作的基础上，对财务报告内部控制的有效性发表 审计意见，并对注意到的非财务报告内部控制的重大缺陷进行披露。 三、内部控制的固有局限性 内部控制具有固有局限性，存在不能防止和发现错报的可能性。此外，由于 情况的变化可能导致内部控制变得不恰当，或对控制政策和程序遵循的程度降低， 根据内部控制审计结果推测未来内部控制的有效性具有一定风险。 第1页 共6页 四、财务报告内部控制审计意见 我们认为，恒丰 ...

（一）天健会计师事务所 牡丹江恒丰纸业股份有限公司 关于审计委员会对会计师事务所履行监督职责 情况的报告 根据《中华人民共和国公司法》、《中华人民共和国证券法》、《上市公司治理 准则》、《国有企业、上市公司选聘会计师事务所管理办法》、《上海证券交易所上 市公司自律监管指引第 1 号—规范运作》和牡丹江恒丰纸业股份有限公司（以 下简称"公司"）的《公司章程》、《董事会审计委员会工作细则》等规定和要求， 审计委员会本着勤勉尽责的原则，恪尽职守，认真履职。现将审计委员会对会计 师事务所 2024 年度履行监督职责的情况汇报如下： 一、2024 年年审会计师事务所基本情况 天健会计师事务所(特殊普通合伙)(以下简称:"天健会计所")，初始成立 于 2011 年 7 月 18 日，是国内最早获准从事证券服务业务的会计师事务所之一， 长期从事证券服务业务。注册地址为浙江省杭州市西湖区灵隐街道西溪路 128 号，首席合伙人钟建国。 截至 2024 年 12 月 31 日，天健会计所共有合伙人 241 人，共有注册会计 师 2,356 其中 904 人签署过证券服务业务审计报告。 （二）聘任年审会计师事务所履行程序 2024 ...