景兴纸业（002067.SZ）8月26日在投资者互动平台表示，公司200T/D再生浆制备线已经投入使用，主 要为生活用纸产线生产再生环保生活用纸提供再生浆的制备，目前投放的原料主要是景兴控股（马）公 司生产的再生浆板。 （记者 王瀚黎） 每经AI快讯，有投资者在投资者互动平台提问：新增一条200T/D环保再生浆制备生产线，该生产线可 单独处理如景兴控股（马）公司的再生浆、口杯纸、生活用纸、高湿强损纸等多种类型原料，制成浆后 用于再生生活用纸。 请问目前已经完成新增，并投入使用了吗？ ...

Group 1: Company Performance and Financials - The company has a market capitalization of 4.6 billion yuan and a debt-to-asset ratio of 33% [12] - The company reported a loss in Q1 2025 due to a supply-demand imbalance in the packaging paper market, resulting in decreased sales revenue and a slight decline in gross margin compared to the previous year [3][4] - The company has 7.44 million yuan of convertible bonds remaining to be converted, with plans to improve stock prices through enhanced operational performance [3] Group 2: Shareholder Engagement and Stock Management - The company has repurchased 600,000 shares, accounting for 0.0477% of total share capital, with a total transaction amount of 2,088,976 yuan (excluding transaction fees) as of April 30, 2025 [6][7] - The management acknowledges the current stock price is below its intrinsic value and is committed to improving operational management to enhance shareholder returns [5][7] - The second phase of share repurchase is ongoing, with decisions based on market conditions and company assessments [5][7] Group 3: Strategic Initiatives and Market Position - The company is investing in a new project to produce 50,000 tons of recycled sanitary paper to meet growing market demand, particularly in overseas markets [4] - The company is focusing on expanding its product line to enhance market competitiveness and align with national carbon neutrality policies [4][8] - The Malaysian project is structured in two phases, with the second phase aimed at addressing domestic market needs and improving investment returns [8]