subject: Declining demand for paper products Chenming Paper declines - Chenming Paper, Performance - Printing Industry [print this page] Chenming Paper sharp decline in performance was mainly a drop in demand during the first half, was forced to cut prices due to product. Paper prices continue to rise, the company will maintain a 2010 growth performance.
Chenming Paper April 13 annual report published in 2009, main business revenue reached 14.885 billion yuan, down 4.15%; to achieve operating profit and net profit attributable to parent company owners were 983 million yuan , 8.36 billion yuan, decreased by 24% and 22.26%; to achieve earnings per share were 0.41 yuan, 6.3 yuan per share, net assets and net assets yield 6.43%. Sent to be 3 per 10 (tax included).
Sharp decline in company performance, mainly in the first half decline in demand, the company was forced to absorb the inventory due to product price cuts. Company sales have not changed greatly during the first half, but a larger decline in paper prices, the negative impact on company performance greatly. Since 2008 the company the high cost of raw materials inventory, in the first quarter of net profit or loss is actually loss per share, in the second quarter after the stock gradually digest profit, but still can not reach 2008 levels over the same period. After the third quarter, demand recovery to performance decline narrowed.
Information, first half of 2009 production of 1,451,600 tons of paper the company system, sales of 1,519,300 tons, respectively over the same period in 2008 declined 8.43%, 0.16%; but the domestic coated paper, newsprint, white cardboard, Offset and cardboard average price decreased by 25.58% year on year, 12.47%, 20.37%, 8.19% and 10.19%, Sell Gross margin fell 7.5 percentage points to a substantial 15.05%, while net profit fell 83.38 percent. The third quarter, as demand recovery, product prices rise, sales gross margin increased to 2008 levels, thus significantly narrowing the performance decline.
Company is the largest Papermaking Enterprise, now company total production capacity has reached 3.5 million tons, much higher than the A shares of other listed companies of similar products are very complete. As the size of outstanding advantages and technological advantages, to achieve the same for every 1 million tons of paper capacity, the company need only 6,000-7,000 yuan investment, while domestic paper industry in general need to invest about 100 million yuan. Fu Yu Chenming 100,000 tons and 120,000 tons kraft paper art project reached full capacity in 2009 will remain the company leading in the industry have a positive impact. Company is also June 18, 2008 successfully issued H shares, as the industry pioneer in international road, and get about 32 billion of funds to expand, the growth of the company's future performance guarantee.
With the end of 2008, the industry's stock in the first half of 2009 is gradually digested pulp product and raw material prices will rebound in the second half performance for the company rebound. High raw material inventory company in 2008, provision for the full, current products and lower raw material prices have rebounded touch, combined with the proportion from the pulp has reached 75-80%, the trend of recovery in 2010, performance will remain.
Data show that since 2010, main products prices continue to rise, in April coated paper, white cardboard, Offset paper, newsprint and cardboard per ton price of 7,500 yuan, 7,550 yuan, 7,250 yuan, 5,180 yuan, 4,100 yuan, up 29.76 percent year on year, respectively, 25.83%, 15.08%, 20.47%, 32.26%, higher than in December 2009 rose 11.94%, 15.27%, 10.69%, 5.71%, 32.26%.
Order to maintain technological superiority industry, the company Purchase Advanced equipment of future performance and growth have a very active role. Procurement of equipment from the paper industry are the most technologically advanced manufacturer Andritz Group, Metso Corporation and the Voith Company, coated paper, after completion of the project, will form a 800 thousand tons high-grade coated paper, 700,000 tons and 45 tons of top grade wood pulp culture paper production capacity, cost control and help companies improve product quality, thereby enhancing the competitiveness of the company.
It is understood, AndritzOY, AndritzAG, AndritzHK and An Deli hereby technology belong to the Austrian AndritzGroup, it is the pulp and paper in the global market leader, in 2008 the Group sales 3,609,800,000; Metso specializes in pulp, paper and power generation industry processes, machinery, equipment and service, as Finland's leading industrial companies; Voith headquartered in Heidenheim, Germany, its parent company VoithGroup for the paper, Energy , Mobile and services market leader in the global market.
Company the first three quarters of total operating income of 10.796 billion yuan, down 13%; to achieve net profit attributable to shareholders of the parent 462 million, down 63.65 percent; basic earnings per share 0.22 yuan, 6.119 yuan per share net asset net assets yield 3.66%.
At press time, Chenming Paper reported 8.78 yuan, down 0.23 yuan
Declining demand for paper products Chenming Paper declines - Chenming Paper, Performance - Printing Industry
