Lee & Man Paper (02314) announced its 2023 results, with revenue of HK$24.937 billion, a year-on-year decrease of 14...
According to the Zhitong Finance App, Liwen Paper (02314) announced its 2023 results, with revenue of HK$24.937 billion, a year-on-year decrease of 14.51%; profit attributable to common shareholders was approximately HK$1,051 million, a year-on-year decrease of 11.33%; basic profit per share was HK24.39 cents, with a proposed final dividend of HK6.1 cents per share.
In 2023, China's economy gradually recovered as the authorities optimized epidemic prevention and control measures. However, downstream demand in the paper industry was weak, and the overall performance of the paper industry fell short of expectations, but the overall performance of the paper industry fell short of expectations, but it gradually picked up in the second half of the year. On the other hand, the group has actively promoted a vertical business model and added pulp production capacity to be put into operation one after another. The group's performance in the second half of the year improved markedly compared to the first half of the year.
According to the announcement, the group's previously laid out overseas production bases leveraged cost advantages during the year under review and provided considerable profits. In order to further develop the Southeast Asian market, the group's fourth paper production line with an annual production capacity of 350,000 tons in Malaysia was put into operation during the year. Currently, the total production capacity of the Malaysian production base is 1.4 million tons.