① Net profit due to the pre-loss of 200 million yuan to 250 million yuan in 2023, and Yueyang Forest Paper plans to withdraw the fixed increase of 2.5 billion yuan; ② The relevant person in charge of the company told the Financial Federation reporter today that after the fixed increase is withdrawn, the cultural paper project with an annual output of 450,000 tons will continue, and some of the funds will be replaced with project loans.
Financial Services Association, January 31 (Reporter Wu Weiling) In 2023, net profit due to mother had a pre-loss of 200 million yuan to 250 million yuan, and Yueyang Forest Paper (600963.SH) plans to withdraw 2.5 billion yuan for a fixed increase. Yi Lankai, secretary of the company's board of directors, told the Financial Federation reporter today that the withdrawal of the fixed increase is mainly due to maintaining market confidence.
According to the company's previous fixed increase announcement, it plans to raise 2.5 billion yuan of capital this time, of which 1.75 billion yuan will be used to build a project with an annual output of 450,000 tons of cultural paper, and the remaining 750 million yuan will be used to supplement working capital.
Yi Lankai told the Financial Federation reporter that after the fixed increase was withdrawn, the 450,000 ton cultural paper project will continue, and the company will raise funds from other channels. “Consider replacing part of it with a project loan. Because it is a state-owned enterprise, the cost of capital is still relatively low. If you take a project loan, (cost) is less than 3 points.”
Also yesterday evening, Yueyang Lin Zhi also announced the 2023 performance forecast. The company expects a loss of 200 million yuan to 250 million yuan in net profit for the full year, changing from profit to loss over the same period last year.
Regarding the expected loss in performance, Yueyang Lin Paper said, on the one hand, during the reporting period, the overall global consumption of the cultural paper industry showed a downward trend. Downstream demand in the paper industry was weak, overall domestic competition was fierce. The introduction of new production capacity and the increase in the operating rate of small and medium-sized manufacturers brought supply shocks, and product sales prices dropped by 300-400 yuan/ton compared to the same period.
On the other hand, due to factors such as full-system overhauls, the company's paper product production dropped by about 20,000 tons compared to the same period.
In addition, during the reporting period, Yueyang Forest Paper cleaned up some of its forest assets, affecting profits of about 280 million yuan; the garden ecology industry market to which the subsidiary Chengtong Kaisheng belongs is still sluggish, preparing about 45 million yuan for impairment of the subsidiary's goodwill.
Looking ahead to 2024, take double adhesive paper as an example. According to Zhuochuang Information Analysis, the overall pattern of supply exceeding demand still exists in stages. Zhuochuang News recently published an article stating that in terms of demand, although the total number of students in 2024 is growing at a rate of growth or narrowing compared to 2023, there is still an overall trend of growth. Coupled with the progress of textbook revisions and other work, there is still strong support for the market, and the pace of their release also affects the market price trend. Also, under the trend of electronic reading and office, demand for books is expected to decrease, and the overall demand for double adhesive paper may increase relatively limited. With the release of new production capacity, the supply environment in the double adhesive paper industry tends to be relaxed.