Shanying paper announces 2018 Annual Report

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Shanying paper released its 2018 annual report

on March 18, Shanying paper released its 2018 annual report. The company realized a net profit of 3.204 billion attributable to shareholders of listed companies, a year-on-year increase of 59.04%; The net profit attributable to shareholders of listed companies after deducting non recurring profits and losses was 2.677 billion, a year-on-year increase of 33.82%; Basic and diluted earnings per share of 0.7000, no dividend

the company achieved sales revenue of 24.367 billion, with a year-on-year increase of 39.48%, including main business revenue of 24.067 billion and other business revenue of 300 million. The annual output of base paper was 4.6321 million tons, the sales volume was 4.663 million tons, and the production and sales rate was 99.44%. The output of corrugated box board and carton is 1.217 billion square meters, the sales volume is 1.218 billion square meters, and the production and sales rate is 100.08%

main business and business model of the company during the reporting period

Shanying paper is the only international paper group integrating recycled fiber recycling, papermaking, packaging, printing, trade, logistics, investment and financing in China, and the scale of papermaking, packaging and printing ranks in the forefront of the country. The production and sales volume of the company's packaging paper ranks third in China, accounting for 9% of the Chinese market share, bringing industry benefits to China Zhongwang and other high-end aluminum enterprises, ranking first in China's largest East China market with a 25% share, and the company's special paper has a leading market share in the world; The sales volume of the company's packaging sector ranks second in China, with an overall market share of 1.6%. The company's main business is the production and sales of carton board paper, corrugated base paper, special paper, paperboard and carton, as well as the trade of recycled fiber at home and abroad. Its main products are "Shanying brand" all kinds of packaging base paper, paper and paperboard, carton, "Nordic paper" special paper and other paper products. Relying on the advantages of industrial chain integration, the company has realized the coordinated development of three businesses: recycled fiber, papermaking and packaging

1. Paper industry

the business strategy of the paper industry is to take the lead in cost. With advanced equipment and technology combined with the scale advantages of the company, the industry excellent operation benchmarking system has been established, which has brought significant industry cost leading advantages. As of the issuance date of this report, the company has nine papermaking bases at home and abroad. The domestic bases are located in Ma'anshan, Anhui, Haiyan, Jiaxing, Zhejiang, Jingzhou public security (still under construction, and the competition level is getting higher and higher) in Hubei and Zhangzhou, Fujian. The overseas bases are the special paper production base in Sweden (Saffle, backhammar, amotfors), greaker, Norway and Phoenix paper industry integrating papermaking and pulping in Kentucky, USA. With an annual output of 4.6 million tons of base paper, the company is a leading enterprise in industrial packaging paper in China. The company invested in the newly-built central China paper base. It is expected that the annual production capacity will reach 1.27 million tons after the completion of phase I and phase II projects in 2019. At that time, the annual planned production capacity of the company will be close to 6 million tons, and the company's leading position in the industry will be further consolidated. The company's packaging paper production raw materials are basically 100% recycled fiber. The full use of recyclable raw materials has greatly protected forest resources and reduced the damage to the natural environment. According to the calculation, nearly 30 million cubic meters of forest resources are saved every year

2. Packaging industry

the business strategy of the packaging industry is customer-centered, leading the innovation of products and services in the industry through R & D, design and supply chain, and providing overall solutions around customer needs and pain points in the terminal industry. The packaging industry is committed to realizing intelligent and digital production, improving the R & D and design ability with function expansion and shape innovation as the core, cultivating the service ability driven by intelligent packaging and interconnected packaging, strengthening the industrial integration ability with benefit priority and customer orientation, and striving to become the leader of the overall packaging solution. By the end of the reporting period, the company had 23 packaging and printing enterprises with an annual output of more than 1.2 billion square meters

3. Recycled fiber industry

Huanyu international is the main carrier of the company's recycled fiber industry. It has built a relatively perfect global recycled fiber global procurement system through Huanyu in the United States, Huanyu in the United Kingdom, Huanyu in the Netherlands (covering Germany), Huanyu in Japan, Huanyu in Australia and Huanyu in China. In July 2018, Huanyu international acquired waste paper trade C.V. in the Netherlands, further strengthening the company's recycling capacity in Europe. The global business of Huanyu is conducive to the protection of forest resources worldwide, which is also the global environmental protection undertaken by the company

4. Other related industries

as of the end of the reporting period, the company also has other related industries such as international trade, logistics and transportation, investment and financing and environmental protection, which will effectively coordinate the rapid development of its main business

basic information of the company's industry during the reporting period

the paper industry is an important basic raw material industry closely related to national economic and social development and characterized by sustainable development. In recent years, the supply and demand of the paper industry has increased steadily, and the prosperity of the industry has been maintained. According to the 2017 report of China's paper industry, there were about 2800 paper and paperboard production enterprises in 2017. The national paper and paperboard production was 111.3 million tons, an increase of 2.53% over the previous year, and the consumption was 108.97 million tons, an increase of 4.59% over the previous year

more than 70% of the raw materials of China's overall paper industry are recycled fibers, and the box board corrugated paper mainly produced by Shanying is close to 100% recycled fibers. The high recyclability of recycled fiber makes the paper industry, especially the box board corrugated paper industry, a green and sustainable development industry, which makes a great contribution to reducing carbon emissions

compared with other packaging, paper packaging has inherent environmental protection advantages. In recent years, many plastic ban orders and relevant policies have been issued successively: in May 2018, Shanghai issued a series of group standards for takeout delivery boxes. The takeout industry will use coated paper bowls with mature production technology to replace plastic delivery boxes, which can reduce plastic waste by more than 75% on the basis of ensuring the quality and safety of delivery boxes. In 2019, Hainan issued the implementation plan for the comprehensive prohibition of the production, sale and use of disposable non degradable plastic products in Hainan Province, which requires the province to completely prohibit the production, sale and use of disposable non degradable plastic bags and plastic tableware by the end of 2020, and the production, sale and use of plastic products listed in the list of disposable non degradable plastic products prohibited in Hainan Province (Trial) by the end of 2025. The release of these plastic ban orders is an immeasurable development opportunity for the paper industry

in 2018, the domestic paper industry experienced a more complex business environment with the increasing number of its users: the foreign waste quota was further reduced under the influence of the national environmental protection policy. At the same time, the Sino US trade friction has led to the rise of tariff costs, the shortage of foreign waste supply and the obstruction of domestic industrial products export. The superposition of the above factors will force some small and medium-sized enterprises to withdraw from the market, and the concentration of the paper industry will continue to increase; Leading enterprises have obvious cost advantages, strong transfer ability, profitability is expected to be further improved, and the market share will be gradually expanded. In particular, large leading paper enterprises with complete environmental protection facilities and obvious scale effect will become the real beneficiaries under the environmental protection policy

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