No Data
"Is life as fragile as paper"? Products have dropped in price, debts have defaulted, and the former leading company shandong chenming paper has stopped production on a large scale. | Speed announcement
① Shandong Chenming Paper has 2.394 billion in overdue debts, with over 70% of its production capacity restricted; ② The company attributes its difficulties to industry shocks, but its performance has significantly lagged behind competitors; ③ The company's production halt has led to a shortage of white cardboard, which may help boost the market for white cardboard; ④ Besides papermaking, the company also has a considerable scale of financing leasing business; ⑤ As early as 2023, its financing leasing business has already faced a crisis.
Shandong Chenming Paper Grapples With Debt and Production Cuts
Shandong Chenming Paper (01812.HK): Some company debts are overdue and some bank accounts are frozen.
On November 19, Glorious Financial announced that Shandong Chenming Paper (01812.HK) has recently faced challenges due to concentrated new capacity in the papermaking industry, leading to significant short-term supply-demand contradictions. The prices of the company's main paper products, especially white card paper, have dropped significantly due to these contradictions, resulting in a continued decline in the company's profitability, with shifts from profit to loss. In addition, some financial institutions have reduced loan sizes, causing the company to temporarily face tight working capital. Some subsidiaries of the company have experienced delays in repaying certain debts, leading to some creditors filing lawsuits and applying for asset preservation in court, which has resulted in a court ruling to freeze some of the company's and its subsidiaries' assets.
Express News | Shandong Chenming Paper Says It Suspended Around 71.7% of Production Capacity Since Nov to Reduce Losses
Hong Kong stock industry concept tracking | Paper companies have set off a new round of price increases, signaling the industry's bottoming out and rebound (with concept stocks).
Since October, many papermaking companies have carried out one or more rounds of price increases. Recently, more companies have announced price adjustment plans for their multiple facilities, leading to paper enterprises in various regions following suit. The entire papermaking industry has ignited a new wave of price hikes.
Shandong Chenming Paper Chairman Steps Down; Successor Named
Shareholders in Shandong Chenming Paper Holdings (SZSE:000488) Have Lost 64%, as Stock Drops 4.5% This Past WeekNo Data
No Data
