Chenming Paper (01812) announced its annual results for the year ended December 31, 2023, and the group obtained operating income...
According to the Zhitong Finance App, Chenming Paper (01812) announced results for the year ended December 31, 2023. The group achieved operating income of RMB 26.609 billion (same unit), a year-on-year decrease of 16.86%; net loss attributable to shareholders of listed companies was 1,281 billion yuan, compared with profit of 189 million yuan for the same period last year; a basic loss of 0.45 yuan per share.
During the reporting period, due to weak downstream demand in the paper industry, the company's machined paper sales declined year-on-year; at the same time, due to the concentrated investment of new production capacity, the price of machine-made paper, especially white cardboard, fell sharply year-on-year, while the prices of raw materials such as wood chips, raw coal, and chemicals remained high, squeezing the company's profit margin. In 2023, the company completed production of 4.78 million tons of machine paper, sales volume of 4.74 million tons, achieved operating income of 26.609 billion yuan, and realized net profit attributable to owners of the parent company of -1,281 billion yuan. As a typical pro-cyclical industry, the paper industry's boom is positively correlated with macroeconomic trends. Currently, China's economic development is showing a positive trend. As the country's macroeconomic policy continues to gain strength, downstream demand in the paper industry will gradually pick up, short-term supply and demand conflicts will be mitigated to a certain extent, and industry sentiment is expected to improve. At the same time, the company will actively improve quality and efficiency through measures such as adjusting product structure, expanding exports, improving production efficiency, controlling production costs, and disposing of non-main business assets to further enhance the company's profitability.
Facing the future, Chenming Group will adhere to the general tone of green, low-carbon, circular and sustainable development, with the “Made in China 2025 Plan” as the guide, with scientific development as the theme, improving quality and efficiency as the main line to promote the integration of manufacturing and financial services, and the deep integration of industrialization and intelligence as the main line, further transform and structure, comprehensively improve quality and efficiency, comprehensively improve management level, comprehensively enhance technological content, and comprehensively enhance the happiness index, comprehensively enhance the brand image, promote the company to become stronger, better and bigger, and strive to achieve the maximum profit and tax success rate during the “14th Five-Year Plan” period Growth A group of world-class businesses.