① paper industry boom downward superimposed raw material cost pressure, Yueyang forest paper net profit fell by more than 70% in the first three quarters. The sales volume and selling price of ② 's paper products are lower than those of the same period, but the cost is higher than that of the same period, and the gross profit of paper products is lower than that of the same period. The company has raised prices twice since the third quarter of ③. There is a point of view that the current social order is not very good, although the publication order has support, but can not support too big increase.
Financial Associated Press, October 27 (Reporter Huang Lu)Paper industry boom downward superimposed raw material cost pressure, paper companies in the first three quarters of the performance generally entered the "freezing point". The net profit of Yueyang Forest Paper (600963.SH) in the first three quarters fell by more than 70% compared with the same period last year. The company said that during the period, the sales volume and sales price of paper products were lower than those of the same period, but the cost was higher than that of the same period, and the gross profit of paper products decreased compared with the same period.
This evening, Yueyang Lin Paper announced that the company's total operating income in the first three quarters of this year was 6.62 billion yuan, an increase of 3.06 percent over the same period last year, while its net profit was 116 million yuan, down 75.51 percent from the same period last year.
Split earnings data show that the company's Q1-Q3, revenue growth of 51.11%,-1.05%,-24.78%, respectively. The net profit in each quarter was 87.49 million yuan, 15.42 million yuan and 13.17 million yuan respectively, with year-on-year growth rates of-29.57%,-91.21% and-92.44% respectively, showing a quarter-by-quarter downward trend.
The company's gross profit margin for the first three quarters was 8.80%, down from 16.9% in the same period last year. Yueyang Lin Paper announcement also admitted that due to raw material price fluctuations and paper product market, the company's paper product sales and sales prices are lower than the same period, but the cost is higher than the same period, paper product gross profit decreased compared with the same period.
A reporter from the Financial Associated Press noted that this year, Q3, the main futures price of pulp, once again broke through the 6000 yuan / ton mark, rising from 5362 yuan / ton at the end of June to a maximum of 6288 yuan / ton, and Q3 rose 16.8 percent in the quarter. Yueyang forest paper semiannual report revealed that the company's self-sufficient pulp accounted for about 50%.
In addition to the cost-side pressure, market statistics show that the recovery of demand in the paper industry in the third quarter is not obvious. Take Yueyang Forest Paper's core product, cultural paper, as an example, the recent market situation is quite tight. Zhuochuang Information report points out that the cost side continues to support the paper mill to raise prices, but the demand side is still in a state of "moderate purchase".
A reporter from the Financial Associated Press noted that paper companies, including Chenming Paper, Sun Paper, and Huatai shares, announced that they would raise product prices from mid-September, while some cultural paper enterprises had an increase of about 300 yuan per ton from October 1. Yueyang Lin Paper also said that since the third quarter, the company has raised prices twice, and now they have all landed.
However, the number of price increases since September this year is more but small, more like "testing the water", through price increases to stimulate the market. Zhuochuang information industry analysts told the Financial Associated Press that the current social order is not very good, although the publication order has support, but can not support too big an increase.
Zhuo Chuang Information believes that as the publishing bidding season from October to November, the demand for publishing orders is still the main factor supporting the market. The phased replenishment of some terminals has been completed, and the positive impact of social orders on the market has been weakened. At the same time, with the end of the publication bidding order delivery work in November, the subsequent order increment in the market is limited, entering December, the demand side may be difficult to form a strong support to the market.
From the cost point of view, after the National Day holiday, in the overall spot market is relatively stable, pulp futures rose and fell, the latest price on October 27th is 5928 yuan / ton, but still at a relatively high level.