Analysis on the situation of Chinese paper listed

  • Detail

Analysis of the situation of Listed Companies in China's paper industry in the first half of 2004

2004 is the "year of listing" of China's paper industry, from Yueyang Paper and Bohui paper, which have already been listed, to sun paper, Jingxing paper and Cairn, which are about to be listed. In just three months, five paper-making enterprises have successfully passed the examination of the stock issuance examination committee of the China Securities Regulatory Commission, made initial public offerings and raised funds through listing. Under the situation that the market performance of the paper sector is generally poor, the intensive listing of paper enterprises reflects the growth of paper enterprises from one side. These new shares have their own highlights, but whether they can be recognized by the market requires enterprises to take advantage of the opportunity of listing to grow rapidly

1. Analysis of China's paper industry

1.1 China's paper industry has great development potential

the paper industry is one of the ten pillar industries of the national economy of developed countries. At present, the development of China's paper industry has entered a period of rapid growth. In recent years, China's paper and paperboard output and consumption have maintained a high growth rate of 10% - 20% per year, and are favored by international paper powers. According to statistics, in 2003, China's paper production and consumption accounted for about 10% and 14% of the world's total respectively, ranking second in the world, second only to the United States. In the first quarter of 2004, the paper and paper products industry realized a total profit of 2.879 billion yuan, an increase of 30.63% year-on-year

since 1995, China's paper industry has maintained rapid growth in domestic production, but there is still a huge consumption gap. According to experts' prediction, by 2005, China's total paper consumption will reach 50million tons, and by 2010, China's paper and paperboard consumption will reach 70million tons. However, there is still a gap of more than 10 million tons in the production capacity and demand of paper and paperboard in China. Compared with other industries, the paper industry has obvious growth potential

1.2 the paper industry has been paid more and more attention by the government

the paper industry belongs to a few demand driven industries with great market potential in the current industrial industry, and the total foreign exchange consumption of imported paper and pulp is second only to oil and steel. In recent years, the government has attached great importance to the rapid development of China's paper industry. The state has listed the paper industry as one of the key industries supported by national debt for technological transformation, and formulated a number of national debt technological transformation projects; In 2004, the national development and Reform Commission officially announced the "Tenth Five Year Plan" and the 2010 special plan for the construction of the national forestry and paper integration project, which promoted the effective adjustment of the structure of the paper industry. With the gradual implementation of the policy, China's paper-making enterprises, especially the leading enterprises in the industry, will grow at a high speed in the next few years

1.3 the huge market attracts the attention of international capital

the vast market space of China's paper industry has attracted the attention of the world's paper giants, and also attracted a large amount of foreign capital investment. International paper giants such as Indonesia's golden light group, Singapore's Asian paper industry, UPM, Stora Enso, South Korea's Han song, Japan's Prince and Golden Eagle Group have brought or are bringing huge amounts of money into China, dozens of multinational companies, With tens of billions of huge investment, from the past promotion of the transformation and upgrading of the private economy to the present promotion of the development and upgrading of the private economy, millions of tons of paper projects are fenced in the country, a number of large construction projects have been approved by the state to start construction, and a large number of capital pouring into the Chinese market also shows the market prospect of China's paper industry to a certain extent

2. Analysis of China's listed paper companies in the first half of 2004

2.1 analysis of the overall situation of Listed Companies in 2003

at present, there are 19 listed companies in the paper industry (excluding Shaanxi Jinye, Daya technology, bonded technology, Jielong Industry). In 2003, there were four listed companies with losses, including *st Jizhi (000718), St Jiazhi, Heilong shares, *st Jiangzhi, and seven other listed companies with earnings per share between 0.01 yuan and 0.10 yuan, Three companies are between 0.11 yuan and 0.30 yuan, and four companies have earnings per share above 0.30 yuan. The top three are Huatai share price (600308), Chenming Paper (000488) and Hengfeng Paper (600356), with earnings per share above 0.50 yuan

from the performance of Listed Companies in the paper industry, the stock price of the whole industry is generally low. Except that Huatai shares and Chenming Paper maintain good performance, most individual stocks in other industries perform poorly. Even if Huatai shares and Chenming Paper seem to have a earnings per share of more than 0.70 yuan, the current stock price is only hovering around 11 yuan. The main reasons for the decline in its performance are that it did not seize the favorable opportunity to quickly update the equipment and expand the scale, and the products lacked sufficient competitiveness. The existence of this situation also means that the paper industry still has a certain investment value

2.2 analysis of the overall situation of Listed Companies in the first quarter of 2004

in the first quarter of 2004, there was still little change in the listed companies in the paper industry. In addition to the continued losses of * ST Jizhi (000718), St Jiazhi, Heilong shares and * ST Jiangzhi, St long holdings also joined the ranks of losses and ranked first among the five loss making companies with earnings per share of -0.17 yuan, * ST Jiangzhi has been suspended due to losses for three consecutive years. Xinjiang Tianhong and Fujian Nanzhi had zero earnings, and eight companies' earnings per share ranged from 0.01 yuan to 0.10 yuan, with poor performance. Huatai shares, Hengfeng Paper and Chenming paper, which are ranked in the top three, have earnings per share ranging from 0.11 yuan to 0.20 yuan, with relatively outstanding performance

listed paper companies are divided by product category

normal align=center> category

normal> paper

normal> cultural paper

normal> special paper

normal after being cemented firmly, they pass the internal bonding attachment of electronic universal testing machine l> packaging paper

normal align = center>

normal align = center> Enterprise

normal align gn=center> industry

normal align=center>

Copyright © 2011 JIN SHI