The concentration of the hottest paper industry in

The concentration of paper industry increased, and the net profit of Chenming Paper increased by 222%

in the past two years when paper enterprises were generally weak, Chenming paper successfully turned losses into profits in 2013, and its report card was even beautiful

on the evening of March 20, the 2013 annual report released by Chenming paper showed that the annual operating revenue was 20.389 billion yuan, an increase of 3.17% year-on-year, while the net profit attributable to shareholders of listed companies increased by 221 year-on-year. " Yu Miao said 51%, reaching 710million yuan, an increase of more than 350% after deducting non recurring profits and losses

the performance of Chenming paper, which is different from many paper enterprises, lies in the improvement of the concentration of the paper industry

the last round of capacity intensive expansion in the paper industry has been basically completed. Under the downturn of the industry, the elimination of backward production capacity and increasingly stringent environmental protection policies have further made some small and medium-sized enterprises withdraw from the market. It is against this background that the profitability of Chenming paper, with an annual output of more than 8million tons of pulp and paper, has been improved. The gross profit margin of its main business machine-made paper is 17.3%, an increase of 2 automatic backup systems over the previous year 42 percentage points

however, it is worth noting that Chenming paper has not received less government assistance in the past few years. In 2011, 2012 and 2013, it received 236 million yuan, 259 million yuan and 191 million yuan of government subsidies respectively. Due to the relocation of Wuhan Chenming and Jilin Chenming environmental protection, Chenming paper also received nearly 300 million yuan of relocation income respectively

Chenming paper said that Wuhan Chenming household paper project, Jilin Chenming environmental protection relocation project and Shandong Shouguang Benbu 100000 ton papermaking auxiliary project have been completed and put into operation. It is necessary to ensure the reliability of the sample measuring station and fixture, and play an important role in adjusting the structure, reducing costs and improving benefits

the analysis points out that compared with its peers, Chenming paper has a better paper type structure in the industry, and is the company with the largest variety of products in the domestic paper industry. In recent years, the production capacity of white cardboard has been released more, but the proportion of white cardboard in Chenming paper is relatively low, and it has expanded on the paper types with better prospects. The projects distributed by Chenming Paper Industry in the past year, including Zhanjiang 180000 tons of paper cup base paper and 190000 tons of high-end cultural paper project, Huanggang Chenming construction forest paper integration 3.24 million mu forest land and 300000 tons of bleached sulfate coniferous wood pulp project, and Jiangxi Chenming 350000 tons of packaging paper project, will generate benefits in the second half of next year

in addition, Chenming paper is also planning the construction of Forest Pulp paper integration in Huanggang, Hubei Province, and its financial company has been approved by the China Banking Regulatory Commission to establish, becoming the first enterprise in the paper industry to have a financial company, and reducing financial costs through overseas financing, low interest loans, etc

in addition, Chenming paper also announced that it plans to issue bonds in Hong Kong with a total amount of no more than 1.5 billion yuan and a term of no more than five years. The raised funds will be used to supplement working capital and replace bank loans