The hottest raw material bottleneck calls for fore

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Raw material bottleneck calls for forest paper integration

industry researchers predict that there will be clear supporting policies in the field of forest paper integration. Figure the plight of Chinese paper enterprises is the same as that of steel enterprises, that is, they cannot obtain the right to collect raw materials

in October 2006, Zhang Yin, chairman of Nine Dragons Paper () ranked first on the 2006 Hurun rich list, becoming China's first female richest man, The paper industry it is engaged in has also attracted great attention from the capital market

with the return of the A-share market, paper companies such as Yueyang paper, sun paper and Huatai also rose to varying degrees. Insiders predict that the prospects of China's paper industry are still optimistic, and the key is how to solve the bottleneck of upstream resources

"in the next few years, China's consumption of paper and paperboard will still maintain an increase of more than 9% Xu Jun, a researcher in China Merchants Securities Industry, told this newspaper. At present, the annual consumption of paper in China is close to 60million tons, accounting for about 16% of the world. The supply of paper is basically the same as the consumption

"China's per capita consumption of paper industry is still at a low level, coupled with China's anti-dumping protection measures for the paper industry, China's paper industry is still in a period of rapid growth." Ye Yunyan, a researcher in the galaxy securities industry, told

however, the bottleneck of raw materials is still the main problem faced by paper enterprises, which is a widely accepted view in the industry. In the Research Report of Guosen Securities paper analyst lishixin, raw material control is ranked first among the three core valuation elements of paper listed companies

it is reported that in the past, the raw materials of China's paper industry were mainly straw pulp, but now they have begun to transfer to wood pulp and pulp. In the cost structure of the papermaking industry, raw materials generally account for about 65%. Papermaking raw materials mainly include wood pulp, waste pulp and non wood pulp (such as straw pulp). At present, due to the rapid growth of papermaking capacity, China's demand for pulp is growing rapidly. According to statistics, in 2005, China consumed 52 million tons of pulp, an increase of 16%, but the output was only 44.46 million tons

therefore, only by controlling raw material resources can we ensure the core competitiveness of paper enterprises

"waste paper is forest", which is a sentence often mentioned by Zhang Yin, chairman of Nine Dragons Paper. Nine Dragons Paper has super profitability, which is not only due to the fact that its high-end kraft liner and corrugated base paper market is still in short supply, but also due to the fact that the major shareholder Zhongnan company has a large number of waste paper packaging plants in the United States, and its experimental speed is generally small, making nine dragons superior in raw material control

Xu Jun believes that China is vigorously developing plastic granulator technology that utilizes renewable energy and industrial waste heat. Paper companies are currently facing the same dilemma as steel mills, that is, they cannot obtain the right to collect raw materials. Among many mainland listed paper-making enterprises, no company has the ability of Nine Dragons Paper to establish a huge waste paper recycling network overseas

in addition, from the development history of the world's papermaking powers, the use of wood pulp for papermaking is a development trend. China's demand for wood pulp is also very large, but China's forest resources are scarce, so there is a shortage of wood pulp raw materials, wood pulp needs to be imported in large quantities, and the price is also subject to the international market

"under the condition that the voice of raw materials is not strong, the historical test data can be transferred into the graph and displayed at the same time for comparative analysis. Strong paper companies can also reduce production costs by optimizing internal management, reducing financial costs, expanding sales channels and other ways." Xu Jun pointed out, "but in the long run, only controlling raw materials can ensure the core competitiveness of enterprises. Taking the road of" forest paper integration "is the inevitable choice for the development of Chinese paper enterprises."

Ye Yunyan predicted that in the "paper industry development policy" released this year, in addition to environmental protection and industrial planning, there will also be clear supporting policies in the integration of forestry and paper

insiders pointed out that at present, many large paper-making enterprises in the mainland have increased their investment in "forest paper integration" in accordance with national policies, such as Chenming Paper (6.22, -0.02, -0.32%) bidding for the Zhanjiang pulp project with a total investment of 9.4 billion yuan, with a construction scale of 700000 tons of bleached kraft pulp per year and 3million mu of raw material forest base; Huatai shares (13.65,0.08,0.59%), Meili Paper (9,0.12,1.35%) and other companies also gradually have their own planting forest bases. However, in general, among the current paper listed companies, except Yueyang Paper (12.74, -0.18, -1.39%), the time for other companies to earn profits in planting forests remains to be seen. Due to the early start of "forest paper integration", Yueyang paper industry's 1.05 million mu of forestry resources will enter the rotation period in 2007. Therefore, the valuation of Yueyang Paper Industry by various institutions is also relatively high in view of the fact that operators can only work 59H a week

reprinted from: China Securities - Shanghai Securities News

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