玉林容县生态板材产业园内，"出海"成为冲刺核心关键词。容县润达家具有限公司的装配车间里， 工人们正陆续打包产品装车，等待发往美国、东南亚市场。服务升级为冲刺全程护航。 河池经济技术开发区环江分园隆源木制品厂车间内，工人们正赶制发往海外的订单产品，今年环江 毛南族自治县林业深加工产品首次打入非洲市场，产品远销埃及。从依赖林木采伐的"木头财政"，到全 产业链发展的"林产经济"，河池市的绿色转型之路尤其典型。目前河池市现代林业产业园已集聚117家 林产加工及配套企业，祥盛公司年产35万立方米超强刨花板项目正冲刺年底产能目标，全面投产后年产 值将突破10亿元。相关部门负责人表示，"十五五"期间，当地将持续加大招商引资力度，不断完善木材 加工产业链，助力林产企业开拓大湾区、川贵市场。 "十四五"以来，广西深入贯彻落实"两山"理念，坚持生态优先、绿色发展，着力将生态优势转化为 发展优势，推动林业从"产木大区"向"产业强区"跨越升级。目前，全区45个林业产业专业园区入园企业 超3000家，园区年产值超1800亿元；木材加工和造纸业规上企业达2300多家，约占全区规上企业总数的 四分之一。 "嗡——"12月的贵港（覃塘）国际 ...

Company Announcements - Company provided a guarantee of RMB 15 million for its wholly-owned subsidiary, Guangxi Fenglin Supply Chain Management Co., Ltd, to support its operational funding needs [1][2] - As of the announcement date, the actual guarantee balance provided to Fenglin Supply Chain is RMB 20 million, with total external guarantees amounting to RMB 825 million, representing 31.57% of the company's audited net assets for 2024 [1] Institutional Research Highlights - During an investor relations event on July 25, 2025, the company emphasized a production strategy based on sales, avoiding price wars, and pursuing a differentiated approach to enhance the functionality of its boards [2][3] - The company showcased its production line capable of producing 400,000 cubic meters of super strong particleboard [1] Industry Insights - The company acknowledged the impact of the real estate downturn on the engineered wood industry but believes there are still growth opportunities due to the expansion of application areas [3] - The company has initiated the development of a greenhouse gas voluntary reduction methodology for a project utilizing forestry waste to produce engineered boards, aiming for green and low-carbon development [3] Financial Performance - In Q1 2025, the company reported a net loss attributable to shareholders of RMB 34.877 million, primarily due to the cyclical downturn in the industry [3] - The company plans to enhance its profitability through refined management practices and has opportunities to secure low-interest loans, with intentions to introduce equity incentives at an appropriate time [3]

Core Viewpoint - The company is focusing on differentiation and innovation to navigate the competitive landscape of the engineered wood panel industry, while also addressing market challenges and exploring new growth opportunities [2][4][5]. Group 1: Company Strategy - The company aims to avoid price wars and instead focuses on production based on sales, emphasizing the importance of managing inventory effectively [2][4]. - Differentiation is key, with the company enhancing product functionalities such as moisture resistance, flame retardance, and antibacterial properties to meet diverse customer needs [4]. - The company is expanding its market presence both domestically and internationally, with ongoing exports to countries like Japan, Vietnam, and Dubai [4]. Group 2: Industry Trends - The engineered wood panel industry is closely linked to the real estate sector, which is currently experiencing a downturn, leading to an oversupply situation [5]. - Despite the challenges, there are growth opportunities in new applications of engineered wood panels in sectors like aviation, automotive, and renovation projects [5]. Group 3: Sustainability Initiatives - The company is recognized as a national-level green factory and has implemented significant investments in emissions reduction technologies, achieving emissions well below national standards [6][7]. - The company is actively developing methodologies for voluntary greenhouse gas reduction and exploring carbon footprint initiatives with downstream customers [7]. Group 4: Financial Performance - In Q1 2025, the company reported a net loss of 34.87 million yuan, with a gross margin decline of 10.15 percentage points, primarily due to industry downturn and overcapacity [6]. - The company is committed to improving profitability through refined management practices, quality enhancement, and maintaining healthy cash flow [6].