The hottest paper industry is the paper manufactur

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The prospect of the paper industry is as dangerous as that of the machine industry. There are four major inventions in ancient China. One of them is papermaking, which has a long history. Paper is also essential in daily life and can be used in all aspects. Therefore, the paper industry is an important industry related to the national economy, the people's livelihood and the economy, and it is also one of the oldest industries

[industry profile]

the paper industry is a large industry, with many types of paper, mainly including cultural paper, household paper, packaging paper, special paper, etc., which can be subdivided into paper, copper paper, etc., with different sales levels

in addition, papermaking is a capital and resource intensive industry. Because its technical level needs to be composed of multiple fields, its investment will be larger than that of other industries such as food and textile. Therefore, if enterprises want to achieve ideal results, they must first have a certain scale, and the advantages of large groups are very obvious

since six years ago, China has become the world's second largest paper production and consumption country. First press the "take pendulum" button, and the industry has developed very rapidly, from a country that heavily relies on paper imports to an importer and exporter of paper. However, there is still a considerable gap between the proportion of the industry scale in the national economy and other developed countries. In the United States, Canada, Japan and other places, the paper industry is one of the country's top 10 pillar industries, However, according to the data of China in 2008, the total output value of the paper industry only accounts for 1.52% of GDP. According to the standards of developed countries, coupled with the vigorous development of China's economy, the proportion of the paper industry will certainly rise, which shows that its potential is quite large

[business overview] the boom was high in the first quarter, but the cost of pulp rose

raw materials for the paper industry are mainly divided into four kinds, pulp, wood pulp, bamboo pulp and waste paper, and these raw materials are actually highly dependent on foreign countries. According to the total consumption of pulp in 2008, imported wood pulp accounted for nearly 60% of the national consumption of wood pulp, while imported waste paper accounted for more than 40% of the national total consumption of waste paper. Therefore, the price of international raw materials has a decisive impact on the industry as a whole. Readers can also pay attention to the above price quotations for reference when observing paper stocks

at the beginning of last year, the international pulp price fell, making the import cost far lower than the domestic self-produced pulp cost, thus stimulating the overall pulp import volume to rise sharply, with an increase of 4.22 million tons in 2009, an increase of 45% year-on-year. The decline of costs to a considerable extent can naturally drive the industry. Due to the delayed relationship between costs and products, the growth brought by low-cost benefits has begun to appear since the second half of last year. Last year, profits and gross profit margins showed a trend from low to high. From January to February, the operating income of mainland paper and paper product owners was 711.857 billion yuan (the same below), an increase of 6.92% compared with 2008, and the average gross profit margin of the industry was 14.01%, an increase of more than 1 percentage point, It can be said that the paper industry has experienced a good year

from January to February 2010, the average gross profit margin of the industry was 14.24%, with a year-on-year increase of 2.19 percentage points, and the main operating revenue was 125.512 billion yuan, 30% higher than the same period in 2008. All data were better than last year, and the year-on-year increase was a record high. Although it was partly due to the low base of last year, it also reflected the ideal start of this year to a certain extent. The prosperity of the industry in the first quarter was at a historical high, but pay attention to the rise in pulp prices, Rising costs will affect industry profits

[business overview] eliminate the weak and retain the strong

the low cost of raw materials has achieved a good situation for paper stocks in the second half of last year and the beginning of this year. However, this factor will no longer bring strong growth momentum to the industry. In fact, since the second quarter of last year, the international pulp price has risen steadily, and many major banks are expected to reach a record high this year. Coupled with the Chilean earthquake and the Finnish strike, the two countries together account for 12% of the global pulp supply, which has created a stronger driving force for the price. Therefore, the market is worried that this year's cost rise will seriously affect the industry's profits

the cost of pulp accounts for about 60% to 70% of the total production cost of the paper industry. The rise in pulp price needs to be directly transmitted to downstream products to maintain profits. At present, the increase in pulp price is about 1.5 times that of paper price. The profit space is under pressure, and many small enterprises are closed down. This will reduce the pressure of excess capacity in the industry, reduce supply and free up market share, which is an opportunity for large paper enterprises. The paper price can't keep up with the pulp price. Of course, small companies can't afford it, but large companies can afford it in the short term. In addition, there is still some room for paper prices to rise. The prices of most kinds of paper are still far from the highest point in 2008. After the adaptation period, it is believed that prices can be raised and some profits can be recovered

the rise in international pulp prices has also led some companies with self-made pulp and the integration of Forest Pulp and paper to run out. Their competitiveness in design justice will be better than other peers. Chenming Paper (01812) listed in Hong Kong is also one of them, and the self-sufficiency rate of pulp can reach 100%

RMB appreciation is good for industries

currency appreciation will have a positive impact on the import industry, because compared with foreign countries, purchasing power has increased. As the world's largest importer of pulp, China's paper industry is the third largest domestic consumer industry, and the effect of RMB appreciation is self-evident. Zz91 information on the number of appreciation problems: China's plastics industry is slowly and steadily changing from a commodity based model to a R & D and intellectual property oriented model. A final decision may be made in the month. After the appreciation, the cost of imported pulp will fall and the profit space will expand. Domestic research indicates that the appreciation of 3% will increase the net profit of the industry by as much as 10%

risk factors: trade protection double anti

double anti, that is, anti-dumping and countervailing. On April 17, the European Union launched a countervailing investigation on Chinese coated paper. The United States ruled that Chinese coated paper dumping was established at the end of April, and imposed a temporary anti-dumping tariff of up to 30% to 135% on Chinese enterprises. Export enterprises to the United States, such as sun paper, have completely stopped American exports of coated paper and adjusted the proportion of exports

the consequences of stopping exports will lead to the return of originally exported coated paper to China, causing a certain pressure on the market. The China Paper Association and several export paper enterprises are appealing to the WTO and the U.S. Department of Commerce, but it is believed that there will not be much turnaround in the short term, so the problem of excess production from exports to domestic sales will be the next focus

industry tips: Forest Pulp paper integration

the so-called "Forest Pulp paper integration" is to break the tradition of separating forest and paper in the paper industry, and bring forest planting and pulping into the business scope, forming a complete industrial chain. This can solve the dilemma of upstream raw material supply, not affected by external prices, reduce costs, and fundamentally enhance competitiveness

global wood resources this company uses straw, bamboo powder, plant starch and other renewable raw materials to produce biodegradable bioplastics products in short supply. In the long run, affected by insufficient supply and demand growth, the price should continue to rise, so it is necessary to hold the forest land in hand first, but the early stage will not help the company's performance, and may also bring cost pressure. However, from the experience of international paper giants, This is a step that the mainland paper enterprises must take

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