证券代码：600103 证券简称：青山纸业 公告编号：2026-002 福建省青山纸业股份有限公司 ● 福建省金皇环保科技股份有限公司为公司控股股东福建省轻纺(控股)有限责任公司的控股子公司，属 于公司的关联方，本次交易构成关联交易。根据《上海证券交易所股票上市规则》相关规定，可以免于 按照关联交易的方式审议和披露，公司仅对本次项目招标中标情况作公告。 ● 截至本公告日，公司过去12个月与关联方福建省金皇环保科技股份有限公司进行的非日常关联交易3 次,累计交易金额约141.80万元（不含本次关联交易）；未发生与其他关联人进行的交易类别相关的交 易。 一、关联交易概述 （一）根据福建省青山纸业股份有限公司(以下简称公司)所委托的招标中介机构福建省招标中心有限责 任公司出具的《中标通知书》，公司关联方福建省金皇环保科技股份有限公司(以下简称金皇环保)（联 合体成员方：中冶南方都市环保工程技术股份有限公司）通过参与公开招标方式竞得公司污水处理提标 改造项目设计采购施工（EPC）总承包。近日，公司与中标人金皇环保及联合体成员方在三明市沙县区 签订了《福建省青山纸业股份有限公司污水处理提标改造项目设计采购施工（EPC） ...

Core Viewpoint - The company Forest Packaging (605500.SH) anticipates a significant decline in net profit for the year 2025, projecting a range of 53 million to 73 million yuan, which represents a decrease of 62.25% to 72.60% compared to the previous year [1] Group 1: Financial Performance - The expected net profit for 2025 is between 53 million and 73 million yuan [1] - This forecast indicates a substantial reduction in profitability compared to the prior year [1] Group 2: Reasons for Performance Decline - The primary reason for the profit decrease is the substantial losses incurred during the initial production phase of the "60,000 tons annual output digital inkjet paper industry upgrade project" by the company's subsidiary, Zhejiang Forest United Paper Industry Co., Ltd., which commenced production in April 2025 [1] - The company faces challenges from uncertainties in both domestic and international economic environments, as well as intensified market competition, leading to a decline in the selling prices of its main products, including raw paper and paper packaging [1]

Core Viewpoint - Forest Packaging (605500.SH) anticipates a significant decline in net profit for the year 2025, projecting a range of 53 million to 73 million yuan, representing a decrease of 62.25% to 72.60% compared to the previous year [1] Group 1: Financial Performance - The expected net profit for 2025 is between 53 million and 73 million yuan [1] - This forecast indicates a substantial reduction in profitability compared to the prior year [1] Group 2: Reasons for Performance Decline - The primary reason for the profit decrease is the substantial losses incurred during the initial production phase of the "600,000 tons digital inkjet paper industry upgrade project" by the company's subsidiary, Zhejiang Forest United Paper Industry Co., Ltd., which commenced production in April 2025 [1] - Additionally, the company faces challenges from uncertainties in the domestic and international economic environment, as well as intensified market competition, leading to a decline in the selling prices of its main products, including raw paper and paper packaging [1]

格隆汇1月22日丨森林包装(605500.SH)公布，公司预计2025年年度实现归属于母公司所有者的净利润 5300万元到7300万元，与上年同期相比，将减少72.60%到62.25%；公司预计2025年年度实现归属于母 公司所有者的扣除非经常性损益的净利润4500万元到6500万元，与上年同期相比，将减少75.66%到 64.84%。 ...

南财智讯1月22日电，森林包装发布年度业绩预告，预计2025年全年归属于上市公司股东的净利润为 5300万元—7300万元，同比预减62.25%—72.60%；预计2025年全年归属于上市公司股东的扣除非经常 性损益的净利润为4500万元—6500万元，同比预减64.84%—75.66%；本期业绩预减的主要原因：1、公 司的控股子公司浙江森林联合纸业有限公司建设的"年产60万吨数码喷墨纸产业升级项目"自2025年4月 投入生产，由于初始投产需要调试磨合等，出现较大金额的亏损；2、2025年度受到国内外经济环境的 不确定性以及市场竞争态势的加剧等多重因素的影响，公司主要产品的原纸和纸包装产品售价有所下 滑，导致利润水平有一定程度的下降。 ...

森林包装公告称，预计2025年年度实现归属于母公司所有者的净利润5300.00万元到7300.00万元，同比 减少72.60%到62.25%；扣除非经常性损益的净利润4500.00万元到6500.00万元，同比减少75.66%到 64.84%。上年同期，公司归母净利润为19340.06万元，扣非净利润为18485.06万元。业绩预减主要因控 股子公司新项目投产亏损，以及原纸和纸包装产品售价下滑。 ...

森林包装公告，预计2025年年度实现归属于母公司所有者的净利润5300万元到7300万元，与上年同期相 比，将减少72.60%到62.25%；预计实现归属于母公司所有者的扣除非经常性损益的净利润4500万元到 6500万元，与上年同期相比，将减少75.66%到64.84%。上年同期归属于母公司所有者的净利润为1.93亿 元，扣除非经常性损益的净利润为1.85亿元。 ...

近一年中国纸浆、纸及其制品进口情况统计图 相关报告：智研咨询发布的《2026-2032年中国纸浆行业市场深度分析及未来趋势预测报告》 根据中国海关数据显示：2025年11月中国纸浆、纸及其制品进口数量为404万吨，同比增长13.2%，进 口金额为23.48亿美元，同比增长1.1%，2025年11月中国纸浆、纸及其制品出口数量为166万吨，同比增 长15.5%，出口金额为25.51亿美元，同比增长0.5%。 近一年中国纸浆、纸及其制品出口情况统计图 数据来源：中国海关，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 数据来源：中国海关，智研咨询整理 ...

Company Overview - Shunhao Co., Ltd. is located in Putuo District, Shanghai, and was established on December 21, 2004. The company went public on March 18, 2011. Its main business includes the research, production, processing, and sales of vacuum aluminum-coated paper, composite film paper, white cardboard, printed products, and cigarette polypropylene fiber bundles [1]. Business Revenue Composition - The revenue composition of Shunhao Co., Ltd. is as follows: printed products account for 48.07%, aluminum-coated paper for 30.03%, other (supplementary) products for 8.51%, composite film paper for 5.56%, others for 3.93%, optical anti-counterfeiting film for 2.02%, new tobacco for 1.65%, and white cardboard for 0.23% [1]. Stock Performance - On January 22, Shunhao Co., Ltd. saw a stock price increase of 5.37%, reaching 14.90 CNY per share, with a trading volume of 6.91 billion CNY and a turnover rate of 4.49%. The total market capitalization is 157.94 billion CNY [1]. Fund Holdings - According to data, one fund under Huatai Baoxing holds a significant position in Shunhao Co., Ltd. The Huatai Baoxing Jinianhong Mixed Fund A (016272) held 58,500 shares in the third quarter, representing 3.18% of the fund's net value, ranking it as the tenth largest holding. The estimated floating profit for today is approximately 44,500 CNY [2]. Fund Performance - The Huatai Baoxing Jinianhong Mixed Fund A (016272) was established on May 7, 2024, with a latest scale of 12.95 million CNY. Year-to-date, it has achieved a return of 6.8%, ranking 3300 out of 8843 in its category. Over the past year, it has returned 57.7%, ranking 1302 out of 8096, and since inception, it has returned 65.26% [2]. Fund Manager Information - The fund managers of Huatai Baoxing Jinianhong Mixed Fund A (016272) are Zhao Jian and Huang Junqing. Zhao Jian has a tenure of 7 years and 227 days, with a total fund asset size of 70.90 million CNY, achieving a best return of 95.13% and a worst return of -36.16% during his tenure. Huang Junqing has a tenure of 260 days, with a total fund asset size of 77.35 million CNY, achieving a best return of 10.75% and a worst return of -6.15% during his tenure [3].

Report Information - Report Title: Pulp Daily Report [1] - Date: January 22, 2025 [2] Industry Investment Rating - Not provided Core View - Short - term pulp is restricted by the sector and weak downstream procurement, showing a wide - range oscillatory trend with both upward pressure and downward support [8] Summary by Directory 1. Market Review and Operation Suggestions - Pulp futures contract 05 had a previous settlement price and closing price of 5376 yuan/ton, with an overall decline of 0.00%. The intended transaction price range of softwood pulp in the Shandong market was 4900 - 5700 yuan/ton, remaining stable compared to the previous trading day. The Shandong Yinxing was quoted at 5400 - 5420 yuan/ton [7] - Arauco's January pulp export prices: softwood pulp Yinxing increased by 10 dollars/ton to 710 dollars/ton; unbleached pulp Jinxing remained at 620 dollars/ton; hardwood pulp Mingxing increased by 20 dollars/ton to 590 dollars/ton [8] - In November, the chemical pulp shipments of 20 pulp - producing countries decreased by 6.9% year - on - year, softwood pulp by 7.6%, and hardwood pulp by 7.3%. Shipments to the Chinese market decreased significantly [8] - In December 2025, the European pulp inventory was 759,600 tons, up 7.6% month - on - month and 2.4% year - on - year; the European pulp consumption was 722,400 tons, down 10.9% month - on - month and up 0.6% year - on - year [8] - In December 2025, the total pulp imports were 3.113 million tons, down 4.1% month - on - month and 3.8% year - on - year [8] - As of January 15, 2026, the weekly pulp inventory in major regions and ports decreased by 0.56% [8] - In the cultural paper market, some idle production lines in South China plan to resume production. Some publishing orders have been picked up, weakening the rigid demand support for offset paper, and the mainstream quotes remained stable [8] 2. Industry News - On January 21, the 6600 paper machine of Yunnan Dongsheng Paper was successfully put into operation. It is the first 6600 paper machine of Sichuan Chengfa Papermaking Machinery Co., Ltd., with a high - speed output of packaging paper and stable product quality [9] 3. Data Overview - Multiple data charts are provided, including import bleached softwood pulp spot prices in Shandong, pulp futures prices, pulp spot - futures price differences, needle - broadleaf price differences, warehouse receipt totals, domestic main port pulp inventories, European main port pulp inventories, copperplate paper and offset paper prices and differences, white cardboard and whiteboard paper prices and differences, and the US dollar to RMB exchange rate [15][26][31]