In the first half of the year, the main business g

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In the first half of the year, the main business grew steadily, and Chenming Paper's profitability continued to improve. Release date: Source: finance and economics. On August 10, Chenming paper, the leader of the paper industry, released its semi annual report. Despite the impact of the epidemic in the first half of the year, the real economy is facing greater development pressure. However, Chenming paper still maintains a strong growth momentum

it is disclosed that during the reporting period, the company completed 1.66 million tons of pulp output and 275 tons of machine-made paper. The diameter of the ring was 492mm, an increase of 59.7% and 27.9% respectively over the same period last year; The operating revenue reached 13.6 billion, a year-on-year increase of 1.88%; The net profit was 516million yuan, a steady improvement over the same period last year

at the same time, the company's current assets were about 47.1 billion, an increase of about 3billion over the same period last year. Financial expenses decreased by 11.25% year-on-year, mainly due to the significant decrease in interest expenses compared with the same period of the previous year. The gross profit margin of main business machine-made paper increased slightly. The growth momentum is strong

Wuhan Chenming and Huanggang Chenming, the subsidiaries of Chenming paper, are located in the epidemic center. The shutdown due to the epidemic has a certain impact on the overall performance of the company. However, other major production bases of the company can use the temperature above 240 ℃ for a long time while doing a good job in epidemic prevention and control; The company has basically realized full load production, and the advantages of pulp and paper integration have gradually emerged, ensuring that all business indicators of the company in the first half of the year have increased compared with last year

Chenming Paper Co., Ltd. said that in the second half of the year, as the epidemic situation was further controlled, the economic situation gradually recovered, the market demand gradually returned to normal, the company's main paper prices will increase steadily, and in addition, the market price of wood pulp will gradually rise, the company's core advantage of pulp paper balance will be further brought into play, and the company's performance will increase significantly with the recovery of the national economy and the recovery of the market

Chenming paper further said, "The five major production bases of the company are equipped with pulp lines. Shouguang production base has 1.12 million tons of chemical pulp and 640000 tons of mechanical pulp; Huanggang production base has 510000 tons of chemical pulp; Jiangxi production base has 250000 tons of mechanical pulp; Jilin production base has 200000 tons of mechanical pulp; Zhanjiang production base has 900000 tons of chemical pulp and 670000 tons of mechanical pulp, with a total of nearly 4.4 million tons. The capacity of self-made pulp accounts for about 41% of the domestic wood pulp capacity. In the long run, this will bring us To gain a big competitive advantage. "

driven by the "plastic ban" and other environmental protection policies, as a high substitute for plastic products, the demand for paper products is bound to increase further. At the same time, the low-end production capacity of the industry will be forced out, which will create huge development space for Chenming and other large paper enterprises

in addition, the scale of Chenming Paper's financial leasing business has been continuously reduced, with a net recovery of 1.056 billion in the first half of the year, which is in line with the "contraction" strategy

as for the problem that the company has more restricted monetary funds questioned by the outside world, the company said, "The large amount of restricted monetary funds is mainly due to the fact that the credit policy of some financial institutions is mainly trade financing. The comprehensive cost of this financing method is low. In the credit lines approved by some financial institutions to the company, the proportion of trade financing lines is becoming higher and higher. A certain proportion of deposit is required for issuing bank acceptance and domestic L/C negotiation." The company also said that its restricted monetary capital matches the financing period of financial institutions. After the business expires, the capital will be released and can be used to repay debts

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