Group 1 - The company held a shareholder meeting on July 19, 2024, approving a share repurchase plan using its own funds, with a total repurchase amount between RMB 10 million and RMB 20 million, and a maximum price of RMB 2.36 per share [1] - The repurchase period is set for 12 months from the date of the shareholder meeting [1] Group 2 - On March 25, 2025, the company adjusted the source of funds for the share repurchase from "own funds" to "own funds and self-raised funds," while other aspects of the repurchase plan remained unchanged [2] Group 3 - As of June 30, 2025, the company had repurchased a total of 5,302,600 shares, representing approximately 0.39% of the total share capital, with a total expenditure of RMB 10,049,765.53, reaching the lower limit of the repurchase amount [3] - The highest repurchase price was RMB 2.13 per share, and the lowest was RMB 1.38 per share [3] Group 4 - The company will continue to make repurchase decisions based on market conditions and will fulfill its information disclosure obligations in a timely manner [4]

Report Industry Investment Rating - No information provided Core Viewpoints - After May, the demand for logs will enter the traditional off - season, and the shipment volume is expected to decrease in the next few weeks. Meanwhile, New Zealand's shipments will decrease seasonally, and the current FOB quote continues to decline. The fundamental weak - balance pattern persists. The arrival of goods is expected to resume this week, and the current futures price is approaching the phased bottom. Previous short positions can consider partial stop - profit. It is recommended to focus on short - selling opportunities on rebounds or participate in the 7 - 9 reverse spread [3][4] Summary by Related Catalogs Futures and Spot Prices - Futures prices: On May 30, the price of log 2507 was 765.0 yuan/m³, down 1.0 yuan or - 0.13% from May 29; log 2509 was 788.0 yuan/m³, down 1.0 yuan or - 0.13%; log 2511 was 793.0 yuan/m³, up 0.5 yuan or 0.06%. The 7 - 9 spread remained unchanged at - 23.0, the 9 - 11 spread decreased by 1.5 to - 5.0, and the 7 - 11 spread decreased by 1.5 to - 28.0. The 07, 09, and 11 contract basis were - 15.0, - 38.0, and - 43.0 yuan/m³ respectively, with changes of 1.0, 1.0, and - 0.5 yuan [2] - Spot prices: The prices of various types of radiation pine and spruce at ports such as Rizhao Port and Taicang Port remained unchanged on May 30 compared to May 29. The FOB quotes for radiation pine 4 - meter medium A and spruce 11.8 - meter also remained unchanged [2] - Cost: On May 30, the RMB - US dollar exchange rate was 7.190 yuan, down 0.01 from May 29. The import theoretical cost was 778.21 yuan, down 1.00 yuan [2] Supply - Monthly supply: In April, the port freight volume was 200.3 million m³, up 39.0 million m³ or 24.17% from March. The number of departing ships from New Zealand to China, Japan, and South Korea was 66.0, up 8.0 or 13.79% [2] Inventory - Weekly inventory of major ports: As of May 23, the total inventory in Chinese ports was 343.00 million m³, up 2.0 million m³ or 0.59% from May 16. In Shandong, it was 192.00 million m³, up 1.11%, and in Jiangsu, it was 109.96 million m³, down 1.70% [3] Demand - Weekly average daily outbound volume: As of May 23, the average daily outbound volume of logs in China was 6.21 million m³, up 0.07 million m³ or 1% from before. In Shandong, it was 3.20 million m³ with no change, and in Jiangsu, it was 2.29 million m³, up 0.07 million m³ or 3% [3]

Core Viewpoint - The legal opinion letter confirms that the 2024 annual general meeting of shareholders for Guangxi Fenglin Wood Industry Group Co., Ltd. was convened and conducted in compliance with relevant laws and regulations, ensuring the legitimacy of the meeting and its resolutions [1][4][5]. Group 1: Meeting Procedures - The board of directors decided to convene the annual general meeting on April 25, 2025, and the notice was published in accordance with the Company Law and relevant regulations [2][3]. - The meeting was held at the designated location with a combination of on-site and online voting methods [3][4]. Group 2: Attendance and Voting - A total of 1 shareholder and authorized representatives attended the meeting, representing 458,946,000 shares, which is 40.94% of the total voting shares [3]. - Additionally, 119 shareholders participated via online voting, representing 33,354,846 shares, or 2.98% of the total voting shares [3]. Group 3: Legitimacy of Participants - The meeting was convened by the board of directors, and the attendees included shareholders, directors, supervisors, and senior management, all of whom had the legal right to attend [4]. - The authorized representatives of the shareholders were confirmed to have valid authorization to participate in the meeting and vote on the agenda items [4]. Group 4: Voting Procedures - The voting process was conducted in accordance with the Company Law and relevant regulations, ensuring that all resolutions passed during the meeting were legitimate and valid [4]. Group 5: Conclusion - The legal opinion concludes that the convening and conducting of the annual general meeting complied with all applicable laws and regulations, affirming the legality of the meeting and its resolutions [5].

Group 1: Report Overview - Report Name: Log Futures Daily Report [1] - Date: May 20, 2025 [1] Group 2: Investment Rating - No investment rating provided in the report Group 3: Core View - After May, log demand will enter the traditional off - season, with expected reduced shipments in the coming weeks. New Zealand's shipments will seasonally decrease, and the current FOB price continues to decline, maintaining a weak - balanced fundamental situation. Supply arrivals are expected to significantly decrease this week, and the market is expected to fluctuate [3][4] Group 4: Futures and Spot Prices - Futures prices: Log 2507 remained at 783 yuan/m³, Log 2509 decreased by 0.5 yuan to 794 yuan/m³ (-0.06%), and Log 2511 decreased by 0.5 yuan to 797 yuan/m³ (-0.06%) [2] - Spot prices: Some radiation pine prices in Rizhao Port decreased, with the 3.9A small, medium, and large radiation pine down - 1.37%, - 1.32%, and - 3.49% respectively. Some prices in Taicang Port and Rizhao Port's spruce 11.8 remained unchanged [2] - FOB prices: The CFR price of 4 - meter medium A radiation pine and 11.8 - meter spruce remained unchanged [2] - Import costs: The RMB - US dollar exchange rate increased slightly, and the import theoretical cost increased by 2.06 yuan to 781.01 yuan [2] Group 5: Supply - Monthly supply: Port shipments in April were 200.3 million m³, a 24.17% increase from March. The number of ships in the rock port increased by 13.79% [2] - Weekly supply: This week's arrivals are expected to significantly decrease, and the inventory decreased by 20,000 m³ to 341 million m³ as of May 16 [3] Group 6: Demand - Weekly demand: The average daily log出库 volume decreased by 0.01 million m³ to 6.14 million m³ as of May 16 [3] Group 7: Inventory - Weekly inventory: As of May 16, the total inventory of national coniferous logs was 341 million m³, a 0.58% decrease from the previous period [3]

原木期货日报 证监许可 【2011】1292号 2025年5月16日 曹剑兰 Z00J9556 | 期货和现货价格 | | | | | | | --- | --- | --- | --- | --- | --- | | 品种 | 5月15日 | 5 14日 | 张跌 | 涨跌幅 | 单位 | | 原木2507 | 788.0 | 794.0 | -6.0 | -0.76% | | | 原木2509 | 798.0 | 804.5 | -6.5 | -0.81% | | | 原木2511 | 801.5 | 809.5 | -8.0 | -0.99% | | | 7-9价差 | -10.0 | -10.5 | 0.5 | | | | 9-11价差 | -3.5 | -5.0 | 1.5 | | | | 7-11价差 | -13.5 | -15.5 | 2.0 | | | | 07合约基差 | -28.0 | -34.0 | 6.0 | | | | 09合约基差 | -38.0 | -44.5 | 6.5 | | | | 11合约基差 | -41.5 | -49.5 | 8.0 | | 元/立方米 | | 日照港 ...

Group 1 - The controlling shareholder, Wuxi Construction Development Investment Co., Ltd. (Wuxi Jianfa), plans to increase its stake in Kangxin New Materials Co., Ltd. by investing between RMB 26.9 million and RMB 53.79 million within 12 months starting from April 10, 2025 [1] - As of May 15, 2025, Wuxi Jianfa has acquired 387,800 shares, representing approximately 0.03% of the total share capital, with an investment amount of RMB 775,600 [2] - Following the adjustment, the funding source for the share purchase will be changed from "self-owned funds" to "self-owned funds and self-raised funds," while other aspects of the plan remain unchanged [2] Group 2 - Wuxi Jianfa has received a loan commitment letter from the Wuxi branch of the Bank of China, which will support the share purchase, although this does not guarantee the amount of shares to be acquired [2] - The company will continue to monitor the share acquisition situation and fulfill its information disclosure obligations in accordance with relevant regulations [3]

原木期货日报 4月18日 涨跌幅 单位 4月25日 涨跌 地区 中国 351.00 351.00 0.0 0.00% -2.41% 194.00 万/立方米 山东 198.8 -4.8 江苏 3.6 116.38 112.76 3.21% 需求: 日均出库量 (周慶) 4月25日 4月18日 地区 涨跌 涨跌幅 单位 中国 6.86 6.51 0.35 5% 0.56 万/立方米 3.86 17% 3.30 山东 江苏 2.36 2.57 -0.21 -8% 原木日均出库量(万方) 原木主要港口库存(万方) 750 650 550 450 350 250 150 1/1 2/1 3/1 4/1 5/1 6/1 7/1 8/1 9/1 10/111/112/1 1/1 2/1 3/1 4/1 5/1 6/1 7/1 8/1 9/110/111/112/1 1/1 2022 - 2023 ·2024 =2022 =2023 = 2024 辐射松3.8中A现货价(元/立方米) 辐射松4米中A: CFR价(美元/JAS立方米 220 870 200 2022 2050 850 2025 2023 830 Teo 81 ...

Core Points - Guangxi Fenglin Wood Industry Group Co., Ltd. will hold a performance briefing for the fiscal year 2024 and the first quarter of 2025 on May 19, 2025, from 14:00 to 15:00 [1][3] - The briefing will be conducted in an online interactive format via the Shanghai Stock Exchange Roadshow Center [2][4] - Investors can submit questions for the briefing from May 12 to May 16, 2025, through the Roadshow Center or via the company's email [2][3] Meeting Details - The meeting is scheduled for May 19, 2025, from 14:00 to 15:00 [3][4] - It will take place at the Shanghai Stock Exchange Roadshow Center [2][4] - Key participants include the CEO Wang Gaofeng, CFO Li Honggang, and independent director Hu Qi [4]

利益相关方应于公告发布之日起三周内进行应诉登记。 据中国贸易救济信息网消息，2025年5月7日，韩国贸易委员会发布第2025-10号公告（案件调查号23- 2025-5）称，应韩国企业주식회사 유니드비티플러스（参考英文名UNIDBT Plus Co., Ltd.）申请，对原 产于泰国厚度不超过5毫米的纤维板（Fibreboard of wood or other ligneous materials）启动反倾销调查。 本案倾销调查期为2024年1月1日～2024年12月31日，损害调查期为2021年1月1日～2024年12月31日。涉 案产品的韩国税号为4411.12.1000、4411.12.9000、4411.92.1000、4411.92.9010、4411.92.9090、 4411.93.1000、4411.93.9010、4411.93.9090、4411.94.1000、4411.94.9000。 ...

Group 1 - The core point of the announcement is that the controlling shareholder of Kangxin New Materials Co., Ltd., Wuxi Construction Development Investment Co., Ltd., plans to increase its shareholding in the company through a stock buyback program, with a total investment amount between RMB 26.9 million and RMB 53.79 million [2][5]. - The buyback plan is set to commence on April 10, 2025, and will last for 12 months, with the funding sourced from Wuxi Construction Development's own funds [2][5]. - As of the implementation of the buyback plan, Wuxi Construction Development held 516,902,585 shares, accounting for 38.44% of the company's total share capital [4]. Group 2 - On April 29, 2025, Wuxi Construction Development executed its first buyback, acquiring 387,800 shares, which is approximately 0.03% of the total share capital, for a total amount of RMB 775,600 (excluding transaction fees) [6]. - Following this transaction, Wuxi Construction Development's total shareholding increased to 517,290,385 shares, representing 38.47% of the company's total share capital [6]. - The company will continue to fulfill its commitment to the buyback plan and will disclose information in accordance with relevant regulations [6].