证券代码：600567 证券简称：山鹰国际 公告编号：2024-088 山鹰国际控股股份公司 关于实施 2023 年度权益分派时转股连续停牌的提示性 公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 证券停复牌情况：适用 因实施 2023 年年度权益分派,本公司的相关证券停复牌情况如下： | 证券代码 | 证券简称 | 停复牌类型 | 停牌起始日 | 停牌 期间 | 停牌终止日 | 复牌日 | | --- | --- | --- | --- | --- | --- | --- | | 110047 | 山鹰转债 | 可转债转股停 牌 | 2024/7/29 | | | | | 110063 | 鹰 19 转债 | 可转债转股停 牌 | 2024/7/29 | | | | 权益分派公告前一交易日（2024 年 7 月 29 日）至权益分派股权登记日期间， 山鹰国际控股股份公司（以下简称"公司"）两期可转换公司债券"山鹰转债"和 "鹰 19 转债"均将停止转股，股权登记日后的第一个交易日起恢复转股。 在实施权益 ...

| 债券简称：山鹰转债 | | 债券代码：110047 | | | | --- | --- | --- | --- | --- | | 股票简称：山鹰国际 债券简称：鹰 | 19 转债 | 股票代码：600567 债券代码：110063 | 公告编号：临 | 2024-087 | 山鹰国际控股股份公司 关于职工代表监事变更的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 鉴于山鹰国际控股股份公司（以下简称"本公司"或"公司"）监事朱皖苏女士 达到法定退休年龄，不再继续担任公司职工监事职务，公司于 2024 年 7 月 18 日召 开了第十届八次职工代表大会，会议选举陈学萍女士（简历详见附件）为公司第九 届监事会职工代表监事，任期与公司第九届监事会任期一致。会议的召开及表决程 序符合相关法律、法规的有关规定。 二○二四年七月十九日 附件： 职工代表监事简历 陈学萍女士，出生于 1978 年，中国国籍，中共党员，硕士研究生学历，高级工 程师。2001 年入职公司，历任项目部副总经理、技术部经理、安徽造纸基地总经理 助理、副总 ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price not specified [6][7]. Core Views - The company is expected to achieve a net profit attributable to shareholders of between 90 million to 140 million yuan for the first half of 2024, representing a year-on-year increase of 133% to 150% [3]. - The company is actively pursuing cost reduction and efficiency improvements, with a projected decrease of approximately 20% in management and sales expenses for the first half of 2024 [3]. - The company plans to sell its stake in Nordic Paper, which generated revenues of 3.18 billion yuan and profits of 300 million yuan in 2023, with a net asset value of 850 million yuan [4]. - The company is also transferring 51% of its wholly-owned subsidiary, Xiangheng Creative, to Jiangdong Group, which had revenues of 739 million yuan and profits of 37 million yuan in 2023 [5]. - The company is expected to benefit from the traditional consumption peak season in the second half of the year, with improvements in profitability anticipated [16]. Financial Summary - The company forecasts a net profit of 556 million yuan for 2024, with a significant increase from previous estimates [16]. - Revenue for 2024 is projected to be 33.42 billion yuan, reflecting a growth rate of 13.93% [17]. - The company’s total assets are expected to reach 55.14 billion yuan by 2024, with a debt-to-asset ratio of 68.48% [21]. - The earnings per share (EPS) is projected to be 0.12 yuan for 2024, with a price-to-earnings (P/E) ratio of 11.98 [17][21].

Investment Rating - The report maintains a "Buy" rating for the company with a target price not specified [11] Core Views - The company expects a significant increase in net profit for the first half of 2024, projecting a range of 90 to 140 million, representing a year-on-year growth of 133% to 150% [1] - The company is actively pursuing cost reduction and efficiency improvements, with a focus on optimizing operational funds, leading to a projected 20% decrease in management and sales expenses year-on-year for the first half of 2024 [8] - The company plans to leverage the traditional consumption peak season in the second half of the year to enhance the utilization rate of new production capacity, which is expected to further improve profitability [2] Financial Performance Summary - The company forecasts a net profit of 56 million, 94 million, and 118 million for the years 2024, 2025, and 2026 respectively, with a downward adjustment from previous estimates [10] - The company reported a production capacity increase, with raw paper production reaching 3.4195 million tons in the first half of 2024, a year-on-year increase of 13.59% [1] - The company is in the process of selling its stake in Nordic Paper, which generated revenues of 3.18 billion and profits of 300 million in 2023 [3] Asset Management and Strategic Moves - The company is actively working on asset disposals to enhance investor confidence and stabilize its stock price, including the introduction of strategic investors to its subsidiaries [9][19] - The company has signed a framework agreement to transfer 51% of its wholly-owned subsidiary, generating an expected cash inflow of approximately 2 billion from the transaction [19] Market Outlook - The company anticipates a recovery in its paper manufacturing business in the second half of the year, with new production capacity continuously being released [10] - The report highlights a balanced growth in production and sales, with a production-sales ratio of 101.31% [1]

1、本次股份质押续期的基本情况 | 债券简称：山鹰转债 | 债券代码：110047 | | | | --- | --- | --- | --- | | 股票简称：山鹰国际 债券简称：鹰 19 转债 | 股票代码：600567 债券代码：110063 | 公告编号：临 | 2024-086 | 山鹰国际控股股份公司 关于股东部分股份质押续期的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大 遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 截至本公告披露日，山鹰国际控股股份公司（以下简称"公司"）控股 股东福建泰盛实业有限公司（以下简称"泰盛实业"）及其一致行动人 吴明武先生、吴丽萍女士、林文新先生合计持有公司股份 1,573,971,965 股，占公司 2024 年 6 月 30 日总股本的 35.21%，本次股份质押续期后， 累计质押股份数量合计为 1,004,394,440 股，占控股股东及其一致行动 人合计所持公司股份的 63.81%，占公司 2024 年 6 月 30 日总股本的 22.47%。 一、上市公司股份质押基本情况 公司近日接到控股股东一 ...

Investment Rating - The report maintains a "Recommend" rating for the company [5][7] Core Views - The company's profitability is expected to improve quarter by quarter in the second half of 2024, driven by the peak consumption season and its scale and regional advantages [5] - The company's domestic paper production capacity is expected to reach approximately 8 million tons/year, further consolidating its leading position in the industry [5] - The company is expected to achieve net profits attributable to the parent company of 510 million, 1.02 billion, and 1.6 billion yuan in 2024, 2025, and 2026, respectively, with corresponding P/E ratios of 13X, 7X, and 4X [5][6] Financial Performance and Forecast - For H1 2024, the company forecasts a net profit attributable to the parent company of 90-135 million yuan, turning from a loss to a profit, while the non-GAAP net profit attributable to the parent company is expected to be -100 to -140 million yuan, narrowing the loss [2] - In Q2 2024, the net profit attributable to the parent company is expected to be 51-96 million yuan, a year-on-year change of -27% to +37%, while the non-GAAP net profit attributable to the parent company is expected to be -125 to -85 million yuan, with an expanded loss [2] - The company's revenue is expected to grow by 28.6%, 12.0%, and 15.8% in 2024, 2025, and 2026, respectively, reaching 37.713 billion, 42.238 billion, and 48.914 billion yuan [6] - The net profit attributable to the parent company is expected to grow by 228.6%, 99.3%, and 56.3% in 2024, 2025, and 2026, respectively [6] Operational Highlights - In Q2 2024, the company's capacity utilization rate increased, leading to an overall profit improvement [3] - The average price of containerboard and corrugated paper in Q2 2024 was 3,196 yuan/ton and 2,656 yuan/ton, down 1.28% and 5.03% quarter-on-quarter, respectively [3] - The company's paper production profit per ton in Q2 2024 is expected to rise to approximately 25 yuan/ton, while the packaging business is expected to maintain stable profitability [3] - The average price of domestic waste paper in Q2 2024 was 1,331.02 yuan/ton, down 6.87% year-on-year and 4.33% quarter-on-quarter [3] Strategic Measures - The company adjusted the conversion price of its convertible bonds to avoid redemption, lowering the conversion price from 2.37 yuan/share to 2.32 yuan/share [4] - The company plans to raise over 4 billion yuan through various measures, including the disposal of Nordic Paper's equity, the sale of 51% of its packaging company's equity, and the return of 2 billion yuan in loans from the packaging company [4] - Other measures include using repurchased shares for convertible bond conversion, extending the core employee stock ownership plan, and repurchasing shares and bonds [4] Industry and Market Position - The company is a leading domestic containerboard and corrugated paper manufacturer, adhering to an integrated industrial chain strategy and steadily expanding its production capacity [5] - With the completion of new production lines in Zhejiang and Jilin, the company's domestic paper production capacity is expected to reach approximately 8 million tons/year, further solidifying its industry leadership [5]

证券代码：600567 证券简称：山鹰国际 公告编号：2024-084 山鹰国际控股股份公司 | 证券代码 | 证券简称 | | 停复牌类型 | 停牌起始日 | 停牌 期间 | 停牌终止日 | 复牌日 | | --- | --- | --- | --- | --- | --- | --- | --- | | 110047 | 山鹰转债 | | 可转债转股停 牌 | 2024/7/9 | 全天 | 2024/7/9 | 2024/7/10 | | 110063 | 鹰 19 | 转债 | 可转债转股停 牌 | 2024/7/9 | 全天 | 2024/7/9 | 2024/7/10 | 一、转股价格调整依据 调整前转股价格："山鹰转债"为 2.37 元/股，"鹰 19 转债"为 2.37 元/股 调整后转股价格："山鹰转债"为 2.32 元/股，"鹰 19 转债"为 2.32 元/股 "山鹰转债"及"鹰 19 转债"本次转股价格修正实施日期：2024 年 7 月 10 日 "山鹰转债"及"鹰 19 转债"自 2024 年 7 月 9 日停止转股，2024 年 7 月 10 日起恢复转股 （一）转股价格修正条款 ...

证券代码：600567 证券简称：山鹰国际 公告编号：2024-083 山鹰国际控股股份公司 2024 年第二次临时股东大会决议公告 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 145 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 1,469,560,252 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 32.8718 | (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会会议由公司董事会召集，会议由董事长吴明武先生主持，会议 采用现场投票与网络投票相结合的表决方式召开并表决。浙江天册律师事务所律 师傅肖宁先生、武岳先生出席了本次会议并做见证。会议的召集、召开及表决方 式符合《公司法》、《公司章程》等有关规定。 (一) 股东大会召开的时间：2024 年 7 月 8 日 (二) 股东大会召开的地点：安徽省马鞍山市勤俭路山鹰国际办公大楼 (三) 出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： 二、 议案审议情况 审议结果：通过 表决情况： 本公司董 ...

浙江天册律师事务所 关于 山鹰国际控股股份公司 2024 年第二次临时股东大会的 法律意见书 浙江省杭州市杭大路 1 号黄龙世纪广场 A 座 11 楼 310007 电话：0571-87901111 传真：0571-87901500 法律意见书 浙江天册律师事务所 法律意见书 关于 山鹰国际控股股份公司 2024 年第二次临时股东大会的 法律意见书 编号：TCYJS2024H1086 号 致：山鹰国际控股股份公司 浙江天册律师事务所（以下简称"本所"）接受山鹰国际控股股份公司（以 下简称"山鹰国际"或"公司"）的委托，指派本所律师参加公司 2024 年第 二次临时股东大会，并根据《中华人民共和国证券法》（以下简称"《证券法》"）、 《中华人民共和国公司法》（以下简称"《公司法》"）和《上市公司股东大 会规则（2022 年修订）》（以下简称"《股东大会规则》"）等法律、法规和 其他有关规范性文件的要求出具本法律意见书。 在本法律意见书中，本所律师仅对本次股东大会召集、召开程序、出席人 员的资格、召集人的资格、表决程序及表决结果的合法有效性发表意见，不对 会议所审议的议案内容和该等议案中所表述的事实或数据的真实性 ...

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 公司预计 2024 年半年度实现归属于母公司所有者的净利润 9,000 万元 到 13,500 万元，与上年同期（法定披露数据）相比将实现扭亏为盈。 （一）业绩预告期间 为盈。 二、上年同期业绩和财务状况 2024 年，宏观经济回升向好态势持续巩固增强，报告期内公司产能规模提 升，原纸板块产量 341.95 万吨，同比增长 13.59%，销量 346.43 万吨，同比增 长 17.10%，产销率 101.31%，实现产销均衡增长。同时公司持续推动降本增效、 精益生产，不断优化运营资金，2024 年 1-6 月管销费用与去年同期相比约下降 20%。下半年，公司将抓住传统消费旺季的契机，不断提升新增产能利用率，公 司的降本增效和规模效应将进一步凸显，盈利能力改善趋势有望持续。 以上预告数据仅为初步核算数据，具体财务数据以公司正式披露的 2024 年 半年度报告为准，敬请广大投资者注意投资风险。 特此公告。 山鹰国际控股股份公司 本期业绩预告适用于净利润实现扭亏为盈。 一、本期业 ...