Source: Paper industry reference (pulpaperinfo)
On January 30, Bohui Paper (600966) issued a 2018 performance pre-reduction announcement. The company expects to achieve a net profit attributable to shareholders of listed companies of 280 million in 2018, compared with the same period of the previous year (statutory disclosure data). It will reduce by 576 million, down 67.29% year-on-year.
It is understood that due to the complicated and ever-changing domestic and international economic situation, in the fourth quarter of 2018, the market demand was less than expected, the company's main product sales price decreased, while the company's inventory raw material costs were higher, and the reduction of raw material prices lags behind the production cost. This led to a significant decline in the company's 2018 annual results compared to the same period last year.
In addition, on January 28th, Jiangsu Bohui Paper Phase III project was publicized twice. The company plans to invest about 3.83 billion yuan to build three phases of annual production of 400,000 tons of chemical mechanical pulp and 1 million tons of high-grade packaging paperboard in the existing plant area. project. After the completion of the project, the whole plant will reach an annual production capacity of 2.5 million tons of high-grade packaging paperboard and 1 million tons of self-made machine pulp. The chemical pulp is all used in the papermaking workshop and is not sold.
The second phase of the project under construction in Jiangsu Bohui is expected to be officially put into operation in the first half of this year. By then, the company will have four white cardboard machines, with a maximum total capacity of 2.96 million tons. The production of Bohui Paper will far exceed Chenming Paper (2 million tons) and Wan Guo Sun (1.45 million tons), becoming the second largest white cardboard factory in China and will dominate the social card market.
It is understood that Jiangsu Bohui Phase III project will still be an imported white cardboard machine. If it is put into production, the company's total production capacity will reach 4 million tons, which is expected to surpass APP (China, Asia Pulp, Jingui) and become China. The largest white cardboard manufacturer. However, Jingui Pulp & Paper is also planning two new white cardboard production lines, and the competition between the two companies will become more intense.
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