Packaging / Advertising & Office

According to the Huacheng Import and Export Data Observation Report, on the evening of March 10, Yueyang Forest Paper released its annual report for 2022, realizing an operating income of 9.781 billion, a year-on-year increase of 24.79%, and a net profit after deduction of 547 million, a year-on-year increase of 160.80%. It plans to distribute 0.138 (tax included) cash dividends per share, with a total planned cash dividend of 249 million (tax included).

Yi Lankai, the secretary of the board of directors of Yueyang Forest Paper, said that in 2022, Yueyang Forest Paper, Paper and Carbon Sink businesses developed together and achieved good results in both revenue and net profit after deduction. The next step will be to focus on paper making and carbon sink and work hard for better performance in 2023. Huacheng Import and Export Data Observation Report.

The supply and demand of paper products are booming

Looking back on the changes in the paper market in 2022, the demand continued to grow, which laid a foundation for the growth of the paper business of Yueyang Forest Paper.

In the domestic market, the demand for paper in the downstream book market is strong, and the publishing houses and private teaching auxiliary companies purchase printing paper in advance, increasing the demand by about 40000 tons to 50000 tons. In order to meet the requirements of myopia prevention and control, the paper weight, font size and line spacing increased, which also promoted the purchase of teaching materials and auxiliary paper to increase by about 10% to 15% in the second half of the year. In the international market, overseas consumption demand has recovered rapidly. Overseas paper enterprises have changed part of their cultural paper production lines into packaging paper production lines, providing export space for Yueyang forest paper. Huacheng Import and Export Data Observation Report.

With regard to the changes in the supply side of the paper market last year, Yi Lankai said: "In 2022, the international pulp price was at a high level, and the small paper mills with backward technology, small capacity and low comprehensive efficiency were unprofitable, and withdrew from the market in succession. Some large paper mills were waiting for materials by rotation due to the short supply of overseas raw materials and poor overseas logistics, and some national paper markets were in short supply."

In 2022, the output of Yueyang forest paper will reach 1.08 million tons, and the export sales will reach 84000 tons, both of which have achieved the best performance since the establishment of the company. This is mainly due to the three targeted measures taken by Yueyang Forest Paper. Yi Lankai further introduced: "The company has completed the forest-pulp-paper integration work, and the proportion of its own pulp has been significantly increased, effectively addressing the problems of pulp shortage, poor logistics and so on. The company has also launched many new products in the fields of offset paper, coated paper, copy paper and packaging paper through scientific research, which has improved the volume increase market. The company has also achieved green, energy-saving and low-carbon production lines through technical transformation and other means, while improving comprehensive benefits It won the titles of "National Green Factory" and "2022 Hunan Provincial Green Supply Chain Management Demonstration Enterprise". "

Li Hongpeng, an analyst at Cinda Securities, analyzed the prospects of the paper industry in 2023: "The stock of paper pulp in the port has declined, the import volume has increased, and the operating rate of paper enterprises has rebounded well. The industry generally expects that the paper industry is expected to maintain a high momentum in 2023. At present, the demand for cultural paper and packaging paper in the consumer market is rising, so we can closely track the listed companies with relevant businesses to verify the sustainability of their performance."

Carbon sink leaps up the steps

Carbon sequestration business is one of the new businesses of Yueyang Forest and Paper based on forest-pulp-paper integration. In recent years, Yueyang Forest Paper has nearly 2 million mu of forest resources. It carries out carbon sink trading and reserves carbon credits, laying a solid foundation for achieving "carbon neutrality".

According to the report of Huacheng Import and Export Data Observation, in 2022, Yueyang Forest Paper established a platform company with the capacity of operation and sales of forestry carbon sinks, helping small and medium-sized forest farmers to solve the problems such as the uneconomical development cost of small-scale forest land carbon sinks and the difficulty of forestry carbon sinks sales, forming a pattern of "breaking up into pieces, intensive development and gathering carbon sinks", and it is expected to achieve the goal of signing a total of 50 million mu of forestry carbon sinks by the end of 2025.

Senhai Carbon sink is a subsidiary of Yueyang Forest Paper, which is mainly engaged in carbon sink development. Yi Lankai is also the chairman of the company. He introduced relevant information to the reporter, "According to the survey, Hunan, Jiangxi, Guangxi, Guangdong and Guizhou have high forest coverage, good water temperature conditions and abundant rainfall all year round. They have the advantages of forest resources to develop forest carbon sinks, especially suitable for artificial afforestation and planting and developing biomass energy plants, and are suitable for vigorously developing carbon sink business. In 2022, Senhai Carbon sink signed 9 formal development contracts, and the formal development contract area reached 35.11 million mu, including 2.56 million mu of farmland. 202 In three years, Senhai carbon sink will develop more new methodologies for carbon sink assessment on the basis of forestry carbon sink, covering various types of carbon sink resources such as farmland, ocean, grassland, etc., and accelerate the development progress of signed projects, form PDD documents, and prepare for the long-term transaction of carbon sink market. "

According to Huacheng Import and Export Data Observation, for the above measures of Yueyang Forest Paper, Tianfeng Securities believes that: "China's unified carbon emission trading market is the largest carbon market covering greenhouse gas emissions in the world, and is expected to gradually integrate with the international trading market. From the perspective of the national unified market carbon price, the future trading volume and price will be in a stable upward trend. Yueyang Forest Paper will arrange carbon sequestration business in advance, obtain a large amount of carbon sequestration resources, and increase the upward flexibility for long-term performance."