Industrial packaging paper, which uses waste paper as its main raw material, continues to strengthen, and Sun Paper and Jingxing Paper both posted varying degrees of growth in first-half results. Sun Paper reported first-half revenue of 20.862 billion yuan, up 9.15 percent year on year, and net profit attributable to shareholders of 1.951 billion yuan, up 9.60 percent. Second-quarter net profit attributable to shareholders was 1.045 billion yuan, up 16.84 percent year on year and 15.34 percent quarter on quarter. Jingxing Paper reported first-half revenue of 3.161 billion yuan, up 20.22 percent year on year, and net profit attributable to shareholders of 139 million yuan, up 152.95 percent. Second-quarter net profit was 118 million yuan, up 50.40 percent year on year and as much as 456.33 percent quarter on quarter. The two papermakers' quarter-by-quarter profit acceleration mainly benefited from industrial packaging paper. Jingxing Paper's industrial base paper business posted first-half revenue of 2.183 billion yuan, up 18.57 percent year on year. Sun Paper's corrugated medium and kraft linerboard revenue rose 292.01 percent and 35.54 percent respectively, while its cultural paper business was weak, with offset paper and coated paper revenue down 4.86 percent and 29.65 percent respectively. Since the start of the third quarter, cultural paper prices have remained near the bottom of the industry range, while industrial packaging paper prices are relatively high, and there are expectations for improvement as stockpiling for the Mid-Autumn Festival and National Day holidays approaches.
Zhejiang Jingxing Paper Joint Stock Co LtdIndustrial packaging paper boom drives strong profit growth
Shan Dong Sun Paper Industry Joint Stock Co LtdIndustrial packaging paper revenue surges, boosting profits
