Group 1 - The core viewpoint of the article is the verification opinion of GF Securities regarding the repurchase of convertible bonds issued by Zhejiang Rongsheng Environmental Paper Co., Ltd. [1][5] - The company issued 5.76 million convertible bonds on August 18, 2023, with a total issuance amount of 576 million yuan, after deducting issuance costs, the net fundraising amount was approximately 570 million yuan [1][2] - The additional repurchase clause allows bondholders to sell their bonds back to the company at face value plus accrued interest if there are significant changes in the investment projects funded by the bonds [2][3] Group 2 - The repurchase price for the bonds is set at 100.35 yuan per bond, which includes accrued interest calculated based on a coupon rate of 0.4% for the second year [3][4] - The repurchase period is from July 2, 2025, to July 8, 2025, during which bondholders can choose to sell back their bonds [4] - The company will continue to trade the bonds during the repurchase period, but conversion to stock will be suspended [4]

Group 1 - The legal opinion letter is issued by Shanghai Jintiancheng Law Firm regarding Zhejiang Rongsheng Environmental Paper Industry Co., Ltd. for the 2025 Second Extraordinary General Meeting of Shareholders [1][2] - The law firm confirms that it has conducted necessary verifications and that the facts stated in the legal opinion are true, accurate, and complete [2][3] - The meeting was convened by the company's board of directors on June 6, 2025, and the notice was published on June 7, 2025, meeting the 15-day notice requirement [3][4] Group 2 - A total of 177 shareholders and their proxies attended the meeting, representing 143,500,357 voting shares, which is 55.1969% of the total voting shares [5][6] - The meeting was held on June 24, 2025, at the company's conference room, combining on-site and online voting methods [3][5] - The voting results showed that 142,937,110 shares (99.6074%) voted in favor, 528,419 shares (0.3682%) voted against, and 34,828 shares (0.0244%) abstained [6][7] Group 3 - The law firm concluded that the procedures for convening and holding the meeting, the qualifications of the convenor, the qualifications of attendees, and the voting procedures and results all comply with relevant laws and regulations [6][7]

Report Industry Investment Rating - Not provided in the content Core Viewpoints - The pulp market may show a pattern of counter - arbitrage and fluctuate slightly stronger due to the adjustment of deliverable products. After the suspension of the "Bratsk" brand deliverable for bleached sulfate softwood pulp futures, the overall price center of the futures market may rise, and the near - far month spread may widen [78]. Summaries by Relevant Catalogs Industry News - As of June 19, 2025, the pulp inventories in Changshu Port, Qingdao Port, and Gaolan Port in China all increased, with a 0.7% increase in Changshu Port, 1.2% in Qingdao Port, and 2.6% in Gaolan Port. The total inventory of mainstream ports reached 220.8 million tons, a 1.1% increase from the previous period [6]. - The Shanghai Futures Exchange announced the suspension of the warehousing of the "Bratsk" brand deliverable for bleached sulfate softwood pulp futures [6]. - Shandong Sun Paper and its subsidiaries won new industrial land in Beihai, Guangxi and Yanzhou, Shandong [6]. Market Data Market Trends - The basis of Silver Star on June 20, 2025, was 930 yuan/ton, with an 8.39% increase from the previous period and a 124.64% increase year - on - year. The basis of Russian Needle was 130 yuan/ton, with a 124.14% increase from the previous period and a 195.59% increase year - on - year. The price difference between Silver Star and Russian Needle was 800 yuan/ton, unchanged from the previous period but a 45.45% increase year - on - year [14]. - The 09 - 11 month spread on June 20, 2025, decreased by 50% from the previous period, and the 11 - 01 month spread was - 82 yuan/ton, a 7.89% decrease from the previous period [19]. Fundamental Data Price - The price differences between softwood and hardwood pulp (Silver Star - Goldfish, Russian Needle - Goldfish) decreased. On June 20, 2025, the price difference between Silver Star and Goldfish was 1950 yuan/ton, a 2.5% decrease from the previous period but a 160% increase year - on - year. The price difference between Russian Needle and Goldfish was 1150 yuan/ton, a 4.17% decrease from the previous period and a 475% increase year - on - year [26]. - The import profit of Silver Star was positive but continued to decline this week. The hardwood pulp Star had no quotation in June, and partial supply was expected to resume in July [33]. - The prices of imported softwood pulp such as Silver Star, Cariboo, Northwood, and Lion decreased slightly compared to the previous period. The prices of imported hardwood pulp such as Goldfish, Star, and Bird remained stable [35][42]. - The price of Venus was 5100 yuan/ton on June 20, 2025, a 2% increase from the previous period but a 6.42% decrease year - on - year. The price of Kunhe was 3900 yuan/ton, unchanged from the previous period and a 1.3% increase year - on - year [46]. Supply - In April 2025, the European port inventory decreased by 12.77% month - on - month, and the global pulp out - port volume decreased by 18.3% month - on - month and 10.89% year - on - year [50]. - In May 2025, the pulp import volume showed a differentiated performance. The softwood pulp import volume decreased by 4.75% month - on - month, while the hardwood pulp import volume increased by 7.84% month - on - month [53]. Demand - The capacity utilization rates of white cardboard, household paper, offset paper, and coated paper decreased to varying degrees on June 20, 2025. The capacity utilization rates of white cardboard, household paper, offset paper, and coated paper were 72.2%, 62.1%, 54.6%, and 56.55% respectively [58]. - The prices of white cardboard, household paper, offset paper, and coated paper remained stable this week, but the market trading was light, and the raw material procurement enthusiasm was not high [61][64]. - The profit of household paper decreased this period, while the profits of other paper types increased to varying degrees [67]. Inventory - The total inventory of mainstream ports in China reached 220.8 million tons on June 20, 2025, a 1.05% increase from the previous period and a 21.12% increase year - on - year. The inventories in Qingdao Port, Changshu Port, and Gaolan Port all increased [75]. - The warehouse receipt quantity of pulp in warehouses was 23.53 million tons on June 20, 2025, a 1.22% decrease from the previous period and a 50.27% decrease year - on - year. The warehouse receipt quantity in factories was 1.63 million tons, unchanged from the previous period and a 49.25% decrease year - on - year [69]. Operation Suggestions - The pulp market may fluctuate slightly stronger due to the adjustment of deliverable products. The suspension of the "Bratsk" brand deliverable may increase the willingness of buyers to take delivery and raise the overall price center of the futures market. The market may show a counter - arbitrage pattern [78].

Core Points - Zhejiang Jingxing Paper Industry Co., Ltd. held its 17th meeting of the 8th Board of Directors on June 19, 2025, where all 9 directors participated and the meeting was deemed legal and effective [1] - The board approved the signing of a "Retreat Agreement" with a total compensation amount of 87.4795 million yuan for the retreat of five land parcels and surface assets located in Caogang Village [1][2] - The board also proposed to convene the second extraordinary general meeting of shareholders on July 7, 2025, which requires approval from the shareholders [2] Group 1 - The board meeting was conducted via electronic communication and attended by all directors, supervisors, and senior management [1] - The "Retreat Agreement" is part of the comprehensive remediation plan for "low, scattered, and chaotic" enterprises in the Caogang area [1] - The total retreat compensation of 87.4795 million yuan is based on the local government's plan for the closure and retreat of enterprises in 2025 [1] Group 2 - The board's resolutions need to be submitted for approval at the upcoming extraordinary general meeting of shareholders [2] - The specific details regarding the extraordinary general meeting will be disclosed in the company's announcements on the same day [2]

Core Viewpoint - Zhejiang Rongsheng Environmental Paper Co., Ltd. has announced a share repurchase plan, aiming to buy back 2% of its total share capital, with a budget of 100 million to 200 million RMB [1][2]. Group 1: Share Repurchase Plan - The share repurchase plan was first disclosed on October 25, 2024, and will be implemented for 12 months after approval from the shareholders' meeting [1]. - The company has already repurchased 5,663,940 shares, which accounts for 2.08% of the total share capital of 272,622,828 shares [2][3]. - The total amount spent on the repurchase so far is 63,604,282.80 RMB, with a price range of 10.77 RMB to 11.59 RMB per share [2][3]. Group 2: Compliance and Regulations - The share repurchase is in compliance with relevant laws and regulations, as well as the company's repurchase plan requirements [3]. - The company will make repurchase decisions based on market conditions and will fulfill its information disclosure obligations regarding the progress of the share repurchase [3].

Group 1 - The company, Wuzhou Special Paper Group Co., Ltd., has issued convertible bonds totaling 670 million yuan, approved by the board and shareholders in 2021 [1][9][10] - The bonds have a maturity of six years, with an interest rate that increases annually from 0.30% in the first year to 2.00% in the sixth year [1][9] - The initial conversion price for the bonds was set at 18.50 yuan per share, which has been adjusted multiple times due to various corporate actions [2][16][17] Group 2 - In 2024, the company reported a revenue of 765.56 million yuan, a 17.43% increase from 2023, and a net profit of 36.18 million yuan, up 33.20% year-on-year [11][12] - The company's total assets reached 1.15 billion yuan, reflecting a 48.49% increase compared to the previous year [11][12] - The company has undergone a significant merger, acquiring 100% of the subsidiary Jiujiang Chengyu, which contributed to the financial adjustments in the 2023 reports [12] Group 3 - The company has maintained a strong credit rating of AA, with a stable outlook, as confirmed by multiple credit rating reports [9][10] - The company has effectively utilized the funds raised from the convertible bonds, with 78.29% of the funds allocated to projects as planned [12][13] - The company has implemented a robust internal and external credit enhancement mechanism to ensure the security of bondholders' interests [12][13]

荣晟环保（603165）公告，公司于2024年10月23日董事会审议通过回购股份方案，计划以1亿元至2亿元 资金，通过集中竞价方式回购股份，用于减少公司注册资本。截至2025年6月19日，公司累计回购 566.39万股，占公司总股本的2.08%，回购价格区间为10.77元/股至11.59元/股，累计使用资金6360.43万 元(不含交易费用)。公司将根据市场情况继续实施回购，并及时披露相关进展情况。 ...

Distribution Plan - The profit distribution plan was approved at the company's 2024 annual general meeting held on May 20, 2025 [1] - The company will distribute a cash dividend of 0.008 yuan per share (tax included) to all shareholders, with no bonus shares or capital increase [1][2] - The total cash dividend to be distributed amounts to 11,904,155.81 yuan (tax included) based on the adjusted share base of 1,488,019,476 shares [2] Shareholder Eligibility - The distribution is applicable to all shareholders registered with the China Securities Depository and Clearing Corporation Limited Shanghai Branch as of the close of trading on the record date [1] - Shares held in the company's repurchase account will not participate in this distribution [4] Taxation Details - For individual shareholders holding shares for over one year, the cash dividend is exempt from personal income tax [6] - For shares held for one month or less, the entire dividend is subject to tax, while shares held between one month and one year are taxed at 50% of the dividend amount [6] - Qualified Foreign Institutional Investors (QFII) will have a 10% withholding tax applied, resulting in a net cash dividend of 0.0072 yuan per share [7] Implementation Method - The cash dividends will be distributed through the designated trading accounts of shareholders who have completed the necessary transactions [4] - The company will handle the cash dividend distribution for its controlling shareholder, Huatai Group [5]

Core Viewpoint - The company announced a cash dividend distribution of 0.008 yuan per share for the fiscal year 2024, approved at the annual shareholders' meeting on May 20, 2025 [1][2]. Dividend Distribution Details - Each A-share will receive a cash dividend of 0.008 yuan, with no bonus shares or capital increase [2][3]. - The total cash dividend distribution amounts to approximately 11.9 million yuan, based on a total share capital of 1,516,870,176 shares, excluding 28,850,700 shares held in the company's repurchase account [2][3]. Important Dates - The key dates for the dividend distribution are as follows: - Record date: June 26, 2025 - Last trading day: June 27, 2025 - Ex-dividend date: June 27, 2025 - Cash dividend payment date: June 27, 2025 [1][3]. Taxation Information - For individual shareholders holding shares for over one year, the dividend income is temporarily exempt from personal income tax. For those holding shares for one month or less, the full dividend income is subject to tax [4][5]. - The actual cash dividend received by qualified foreign institutional investors (QFII) will be 0.0072 yuan per share after a 10% withholding tax [5].

证券代码：002511 证券简称：中顺洁柔 公告编号：2025-31 中顺洁柔纸业股份有限公司 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 中顺洁柔纸业股份有限公司（以下简称"公司"）第六届董事会第十次会议 通知于 2025 年 6 月 18 日以短信、电子邮件等方式发出，并于当日在公司会议室 以通讯方式召开。本次会议应到董事 9 名，实到 9 名。公司全体监事会成员、高 级管理人员列席本次会议。会议由公司董事长刘鹏先生主持。本次会议符合《中 华人民共和国公司法》及《公司章程》的有关规定，表决所形成决议合法、有效。 二、董事会会议审议情况 本次会议经过投票表决，一致通过如下议案： （一）会议以 9 票同意、0 票反对、0 票弃权的表决结果，审议通过《关于 调整回购股份方案的议案》。 基于对公司未来业务发展、市场价值等方面的信心，为切实推进公司回购股 份事项的顺利实施，保障投资者利益，公司综合考虑证券市场变化调整回购资金 总额，由"不低于人民币 3,000 万元（含），不超过人民币 6,000 万元（含）" 调整至"不低于人民币 11 ...