纸行业大范围提价的主要原因，一方面是成本的要求，另一方面是市场需求也在逐步恢复。每年四季度通常是造纸行业的传统旺季，特别是在年底购物季和假日需求推动下，纸制品的市场需求大幅上扬。企业开始为需求高峰做好准备，通过提价策略确保生产的利润。当前，造纸行业虽仍面临诸多压力，但展望四季度，Since October, many paper companies have carried out one or more rounds of price increases. Recently, several bases under the company have announced plans to raise prices. Paper companies from all over the world have followed suit, setting off a new wave of price increases in the entire paper industry.
The Zhitong Finance App learned that since October, many paper companies have carried out one or more rounds of price increases. Recently, several bases under the company also announced plans to raise prices. Paper companies from all over the world have followed suit, and the entire paper industry has set off a new wave of price increases. On November 6, Shanying International once again issued a letter of price increase for raw paper: Starting November 8, the company's sequoia, T-paper, tile paper, etc. from Zhejiang, Anhui, Fujian and other bases will all increase by 30 yuan/ton. Meanwhile, several bases under Nine Dragons Paper and Liwen Paper also recently announced plans to raise prices. Recently, several brokerage firms said that there may be limited room for further decline in pulp. Combined with downstream demand, paper companies' profits are expected to recover in the fourth quarter.
In November, “price increase+shutdown and maintenance” will become the main theme in the paper industry. Nine Dragons Paper said earlier that due to market factors, there has been a serious divergence in the price and value of white card paper since this year. In order to better provide customers with high-quality and stable products and services while preventing “internal roll” vicious competition, the company decided to increase the price of all white card series products by 200 yuan/ton starting November 1, and shut down some paper machines at the same time.
The main reason for the widespread price increase in the paper industry is, on the one hand, cost requirements, and on the other hand, market demand is gradually recovering. The fourth quarter of every year is usually the traditional peak season for the paper industry. In particular, the market demand for paper products rises sharply due to the year-end shopping season and holiday demand. Companies began preparing for spikes in demand and secured production profits through price increase strategies. Currently, although the paper industry is still facing a lot of pressure, looking ahead to the fourth quarter, the industry generally believes that the industry has bottomed out and showed signs of recovery. Next, it is expected that holiday effects such as New Year's Day and Spring Festival will still exist, downstream construction will increase, and demand for white cardboard will pick up slightly.
According to statistics from the China Business Industry Research Institute, in the first half of 2024, out of 23 listed companies in the paper industry, 18 had positive net profit growth and 5 companies had negative growth. Among them, the 10 companies with the highest year-on-year increase in net profit were Wuzhou Special Paper, Guanhao Hi-Tech, Minfeng Special Paper, Xianhe Co., Ltd., Shanying International, Bohui Paper, Qifeng New Materials, Chenming Paper, Forest Packaging, and Jingxing Paper.
Among them, in the first half of 2024, Sun Paper achieved operating income of 20.524 billion yuan, up 6.11% year on year; net profit attributable to shareholders of listed companies was 1.758 billion yuan, up 40.49% year on year; Bohui Paper achieved operating income of 9.262 billion yuan, up 6.99% year on year; and net profit attributable to shareholders of listed companies was 0.131 billion yuan, compared to -0.346 billion yuan in the same period last year.
With steady growth, expansion of domestic demand, and implementation of policies to promote consumption, demand in the domestic downstream industry picks up, and the recovery in consumption will drive a recovery in market demand for products such as cultural paper, household paper, and wrapping paper. Guohai Securities said that a number of leading paper companies have issued letters of price increases for cultural paper, and the price of cultural paper is expected to gradually rebound as the peak season arrives and then rebound steadily, highlighting the competitive advantage of leading companies that are relatively stable on the demand side.
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Nine Dragons Paper (02689): The company previously announced annual results for the year ended June 30, 2024, with revenue of 59.496 billion yuan during the period, an increase of 4.86% over the previous year; profit attributable to the company's equity holders was 0.751 billion yuan, while a loss of 2.383 billion yuan was recorded in the same period last year.
Lee & Man Paper (02314): The company's total revenue for the six months ended June 30, 2024 increased 2.4% to HK$12.5 billion over the same period last year, and net profit increased 123.4% to HK$0.806 billion.
Chenming Paper (01812): The company achieved revenue of 5.94 billion yuan in the third quarter. Chenming Paper said that since this year, due to factors such as high raw material prices, falling short of expectations during peak season demand, and continued decline in product prices, some products have suffered serious losses, hampering the efficiency of enterprises. In response, the company is actively adopting measures such as optimizing product structure and adjusting production capacity layout to adapt to dynamic changes in the market environment.
