The papermaking industry, which was severely affected by the epidemic, ushered in recovery in the second half of 2020. At the same time, a number of listed companies’ performance in the first quarter increased significantly.
On the evening of April 6, the leading Chenming paper industry in the paper industry released the first quarter of the 2021 performance trailer. The announcement showed that the net profit of the shareholders attributable to listed companies in the first quarter of the morning paper industry was about 1.1 billion to 1.2 billion yuan. 442%-492%compared to the same period last year.
Chenming Paper Industry has attributed the pre -pre -pre -pre -pre -pre -market in the first quarter. The price and sales of the company’s mechanism paper have achieved dual growth, and the advantages of the integrated cost of the “prohibition” and the “plastic limit order” and the “plastic limit order”. This also further confirms the forward -looking strategy of Chenming Paper’s entire industry chain.
The Sun Paper issued a preview of the performance on the evening of April 7. It is expected that the net profit of the mother will be 1.126 billion yuan to 1.126 billion yuan in the first quarter of 2021, a year -on -year increase of 100%to 110%. The announcement states that during the reporting period, the market prosperity of domestic dissolving pulp products resumed, and the price of the product increased, resulting in a significant improvement in the profitability of the company’s dissolved pulp products.
According to Changjiang Securities, the import volume of China broad -leaved paste in 2020 at Q3/Q4 was 376.8/37.375 million tons, respectively, an increase of 21.39%/16.5%year -on -year; To $ 580. From the perspective of the price trend of broad -leaved paste, the price of broad -leaved paste at this stage is still in the median position, and there is still some room for rise.
Oriental Securities stated that the price increase of cultural paper is expected to start and run through the whole year; considering that the current price of cultural paper is still at a relatively low level, the price increase space in the future is sufficient. The rise in costs promotes the upward price of paper, which is good for large paper companies with the advantages of raw materials.
Recently, many living paper companies have issued a wave of “price increase letter”, which is intended to adjust the price in April.
The well -known domestic paper company “Zhongshun Jierou” issued a notice of price adjustment to the dealers and channel vendors, and has greatly adjusted its domestic paper products price on April 1. Since then, Vida and Qingfeng’s daily paper giants have also issued a price adjustment letter, proposing to raise product prices from April.
Huaxi Securities Research reports that the three major factors have played a decisive role in this round of paper prices. First of all, the increase in the price of raw material cost pulp is the main reason for the price increase of paper products. Second, the cost of logistics is increased. Third, the demand for paper media has declined. In addition, the changes in the consumption structure of paper products, such as the increase in domestic paper, the increase in the demand for cardboard, the decrease in the needs of printing and information paper, the conversion of plastic products to paper products, etc. the elements of.
Judging from the trend of the sector, the papermaking sector once again turned on the trend of volatile rising after the bottom of March 9. Data show that it has risen by 8.16%since March 9.
Huachuang Securities believes that in the first quarter, under the expectations of economic recovery and currency easing, the price of wood pulp continued to rise, and the value of its own pulp line was prominent. The price of wood pulp continues to rise, and the upstream raw materials have become the driving factor of the price increase of finished paper; the demand for finished paper is heating, the price increase letter continues to land, and the industry’s prosperity continues to rise.
In terms of investment opportunities, Great Wall Securities stated that the drainage and profit of living paper rises, the first promotion of the papermaking sector is expected to accelerate and improve, and the raw material reserves have sufficient profit and elasticity. OK, recommend the continuous optimization of ROE to grow the leading sun paper industry; the cabinet corrugated paper focuses on the structural opportunities of high -end varieties, and it is recommended that the mountain eagle paper industry with overseas raw materials layout after clearing the exterior imports.