The hottest paper industry reported its first quar

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The first quarterly report of the paper industry has suffered its first loss in four years

the economic growth has slowed down and the industry has hit a trough. The paper industry is in a bad year. The first quarter report of 2013 showed that the total net profits of 25 listed companies from scratch in paper industry had suffered losses for the first time in nearly four years, with a loss of 15 million yuan. However, product differences also led to huge differentiation in the company's performance. For this year's paper industry profit prospects, securities industry researchers said it was difficult to be optimistic. A number of listed paper companies said that they would increase investment in product research and development and industrial upgrading this year

the profitability has deteriorated year after year.

the data shows that the profitability of the paper industry in recent years is not good. Nature works launched Ingeo biopolymer at Chinaplas 2016. In the first quarter report from 2010 to 2013, the total net profits of 25 listed companies were 633 million yuan, 715 million yuan, 110 million yuan and -15 million yuan respectively. From 2010 to 2012, the annual profit also shrank significantly, with the net profits of 25 paper companies totaling 2.435 billion yuan, 1.343 billion yuan and 1.407 billion yuan respectively

in this regard, Orient Securities believes that the profits of the paper sector are still hovering at the bottom, among which the profits of paper companies with a relatively high proportion of self-made pulp have increased rapidly, and the performance of other companies has even declined year-on-year

on the other hand, the inventory situation of the paper industry has not improved significantly. From 2010 to 2012, the inventories of the above companies were 14.5 billion yuan, 19.8 billion yuan and 18.8 billion yuan respectively. Shenyin Wanguo believes that the overall market demand in the first quarter of this year is weak, and most manufacturers have great inventory pressure, so the shipment is not ideal

in addition, the demand for some traditional products such as coated paper and paper continued to decline, causing paper companies to form a loss black hole. For example, in the field of coated paper, sun paper's tianzhang subsidiary lost 157million yuan in 2012

previously, the 12th Five Year Plan for the development of the paper industry disclosed that the production and consumption of paper and paperboard in China ranked first in the world. However, domestic and foreign macro environmental factors, changes in supply-demand relations and rising costs have led to the paper industry falling into an industry trough

as for the RMB appreciation factor that supports the industry to improve, a researcher from the paper light industry of a large securities company told that this has little impact on the paper company industry, but when the determination of heavy load requires higher accuracy, the extended performance of the experimental machine or the device on the experimental piece is relatively small, and the proportion of paper using imported raw materials at present is also small

actively expand upstream and downstream

although traditional papermaking businesses such as coated paper and paper suffer huge losses, Northeast Securities believes that coated paper will basically have no impact on new production capacity in the next few years, and the inflection point of industry operation has emerged. At present, expanding to the upstream and downstream industrial chain has become an inevitable choice for many paper companies

unlike traditional paper companies, Qifeng insists on developing special paper. In order to improve the technical competitiveness of products, the company increased R & D investment and developed new products such as wallpaper base paper. Qifeng doubled its net profit in 2012 to 144million yuan. The first quarter report of 2013 predicts that the net profit in the interim report of 2013 will continue to increase by 30% to 40% year-on-year

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