Chenming Paper (000488.SZ) announced the performance forecast for the first half of 2024, with a net profit attributable to shareholders of the listed company of 20 million yuan to 30 million yuan, compared with a loss of 688.08 million yuan in the same period last year; the net profit deducted for non-recurring gains and losses is expected to be a loss of 260 million yuan to 280 million yuan, compared with a loss of 811.84 million yuan in the same period last year; the basic earnings per share are expected to be a profit of 0.007 yuan/share to 0.010 yuan/share.
During the reporting period, the prices of main raw materials and energy such as wood chips and pulp decreased year-on-year; at the same time, the company strengthened cost control, increased production capacity utilization rate, enhanced sales management, and increased the production and sales volume of pulp and paper compared to the same period of last year, and the unit production cost decreased year-on-year.
The company further focuses on the development of the main business of pulp and paper, continuously optimizes the asset structure, improves asset quality, and enhances the company's profitability. Non-main business assets such as hotels were disposed of during the reporting period, generating non-recurring gains and losses of approximately 0.24 billion yuan.
With the continuous efforts of the country's macroeconomic policies and the gradual recovery of downstream demand, the industry's prosperity is gradually improving; at the same time, the company will continue to reduce costs and increase efficiency by strengthening cost control, improving operational efficiency, and increasing the disposal of non-core assets , further improving the company's profitability.