Core Viewpoint - Hengfeng Paper's stock price has experienced fluctuations, with a year-to-date increase of 22.77% but a recent decline in the last five and twenty trading days [1][2]. Company Overview - Hengfeng Paper, established on March 6, 1994, and listed on April 19, 2001, is located in Mudanjiang, Heilongjiang Province. The company specializes in the production and sale of specialty papers, including cigarette paper, filter rod paper, and aluminum foil lining paper [1]. - The revenue composition of Hengfeng Paper includes 65.48% from tobacco industrial paper, 15.50% from other paper types, 11.75% from mechanical gloss paper, 6.08% from thin printing paper, and 1.19% from other sources [1]. Financial Performance - As of September 30, 2025, Hengfeng Paper reported a revenue of 2.039 billion yuan, reflecting a year-on-year growth of 6.29%. The net profit attributable to shareholders was 148 million yuan, marking a significant increase of 34.76% compared to the previous year [2]. - The company has distributed a total of 680 million yuan in dividends since its A-share listing, with 115 million yuan distributed over the past three years [3]. Shareholder Information - As of September 30, 2025, the number of shareholders for Hengfeng Paper was 14,600, a decrease of 12.06% from the previous period. The average circulating shares per person increased by 13.71% to 20,445 shares [2]. - Notable new institutional shareholders include the Jiangyin State-owned Enterprise Reform Flexible Allocation Mixed A Fund, which holds 5.6999 million shares, and the招商量化精选股票发起式A Fund, holding 4.3094 million shares [3].

Group 1 - Hengfeng Paper Industry's stock price dropped by 5.05% to 9.59 CNY per share, with a trading volume of 105 million CNY and a turnover rate of 3.59%, resulting in a total market capitalization of 2.865 billion CNY [1] - The company, established on March 6, 1994, and listed on April 19, 2001, specializes in the production and sale of specialty papers, including cigarette paper, filter rod paper, and aluminum foil lining paper [1] - The revenue composition of Hengfeng Paper Industry includes 65.48% from tobacco industrial paper, 15.50% from other paper types, 11.75% from mechanical gloss paper, 6.08% from thin printing paper, and 1.19% from other sources [1] Group 2 - CITIC Prudential Fund's multi-strategy mixed fund (LOF) A (165531) entered the top ten circulating shareholders of Hengfeng Paper Industry in the second quarter, holding 3.2173 million shares, which is 1.08% of the circulating shares [2] - The fund has a current scale of 1.245 billion CNY and has achieved a return of 37.35% this year, ranking 1437 out of 8189 in its category; over the past year, it has returned 74.93%, ranking 1063 out of 7969 [2] - The fund manager, Jiang Feng, has a tenure of 5 years and 139 days, with a total asset scale of 5.782 billion CNY, achieving a best return of 112.1% during his tenure [2]