Overcoming the impact of the epidemic, all business indicators have increased year-on-year
Chenming Paper is a large-scale comprehensive enterprise group mainly engaged in pulping and papermaking, and its main business is machine-made paper, which is the main source of the company's income.
In the first half of this year, due to many unfavorable factors such as the COVID-19 epidemic and the deterioration of the trade environment, the downstream demand of the paper industry was weak, and the overall industry slowed down.
It is reported that due to the spread of COVID-19 epidemic around the world, the paper industry has been greatly impacted, and the demand for overseas paper products has been suppressed. Since the epidemic, the demand for paper in the domestic market has been sluggish, and the prices of major paper varieties are under great downward pressure. Chenming Paper's subsidiaries, Wuhan Chenming and Huanggang Chenming, are located in the center of the epidemic, and the suspension of production and anti-epidemic will have a certain impact on the company's overall performance. However, it is worth mentioning that despite many uncertainties. Other major production bases of the company actively resumed work while doing a good job in epidemic prevention and control. In the first half of the year, the company's operating indicators increased compared with last year.
Chenming Paper's semi-annual report shows that in 2020, H 1, the company realized revenue of about136 million yuan, and the net profit attributable to shareholders of listed companies reached 50160 million yuan, achieving double growth year-on-year. Current assets are about 476,543.8 billion yuan, an increase of about 3 billion yuan. The financial expenses decreased by 1 1.25% year-on-year, mainly because the interest expenses decreased significantly compared with the same period of last year. The gross profit margin of the main business mechanism paper increased slightly.
In addition, around the business policy of "continuous compression", the scale of the company's financial leasing business has been continuously compressed, with H 1 net payment10.056 billion yuan. Risks are effectively controlled.
The core advantages of raw material self-sufficiency and pulp-paper balance are further highlighted.
It is reported that China's papermaking enterprises have long relied on imported raw materials, and the cost of papermaking raw materials accounts for more than 70% of the total production cost, which leads to uncontrollable prices, unstable supply and serious constraints on cost control. Especially under the impetus of environmental protection policies such as the "ban on waste", the status of raw materials is more prominent. Therefore, in the paper industry, the self-sufficiency of raw materials largely determines the market competitiveness of enterprises.
For Chenming Paper, which broke ahead of schedule, "raw materials", a century-old problem that has plagued the industry, has become the password to open the gap with peers.
Since the layout of the first pulp production line in 2005, Chenming Paper has always adhered to the strategy of self-sufficiency in raw materials. At present, with the commissioning of Huanggang Chenming and Shouguang Meilun chemical wood pulp projects, Chenming's wood pulp production capacity has reached nearly 4.4 million tons, making it the first paper-making enterprise in China to achieve self-sufficiency in raw materials.
According to reports, although the market price of wood pulp fluctuates periodically, the overall stable situation is conducive to the company's cost management. With the further control of the epidemic in the second half of the year, the economic situation will gradually regain its vitality and the market demand will gradually return to normal. With the rationalization of the market price of wood pulp, the core advantages of the company's pulp-paper balance are expected to be further exerted.
With the promulgation of the "plastic ban order", the paper industry has ushered in a new world.
In recent years, driven by the explosive growth of logistics and e-commerce, the demand for paper products is on the rise. The strictest plastic ban in history has opened a new world for paper enterprises.
In July this year, the National Development and Reform Commission, the Ministry of Ecology and Environment and other nine departments jointly issued the Notice on Solidly Promoting the Control of Plastic Pollution, which clearly prohibited the use of non-degradable plastic bags, plastic tableware and disposable plastic straws from 200211,and clearly required packaging iterations in retail, offline catering, take-out and e-commerce.
The data shows that in 20 19 years alone, the use of disposable plastic lunch boxes in China will reach 40.2 billion, and some institutions predict that the consumption will reach 45 billion in 2020. This means that a market with a demand of 100 billion yuan is about to open. At present, due to technical bottleneck, high cost and complicated environmental protection treatment in the later stage, the substitution function of biodegradable plastics is very limited.
CIC Industry Research Institute believes that the paper products market in China has developed quite well. With the advantages of high production capacity, low cost and low selling price (the price per ton of various paper products is only about 1/3 of that of biodegradable plastics), with the introduction and development of new plastic restrictions, paper products in China will usher in new development. The biggest beneficiary in the industry must be a large paper-making enterprise with strong comprehensive strength in technology, management and production capacity.