“In order to ensure the supply of waste paper, a subsidiary was set up in Thailand this year to import waste paper from the United States and other countries into the company. At present, the equipment is being installed. It is estimated that waste paper will be produced in June, with an annual output of about 100000 tons.” Lin Qijun, chairman of forest packaging (605500. SH), said at the performance presentation meeting held on May 14.
Forest packaging is a new stock listed in 2020, mainly engaged in industrial packaging base paper and downstream paper packaging business. At present, under the background of banning the import of foreign waste, the main contradiction of the industrial packaging paper industry is how to guarantee the supply of raw materials such as American waste (American waste paper), so as to grab higher income in the current business cycle. Therefore, the above 100000 tons of waste pulp production capacity in Thailand is undoubtedly very critical for forest packaging.
A person in the industry told the financial associated press that it is conservatively estimated that the net profit of self-produced us waste pulp is about US $150 / T. According to this calculation, the corresponding net profit of 100000 tons of forest packaging capacity may be 15 million US dollars, equivalent to about 96 million yuan, equivalent to 40% of its net profit in 2020.
It is worth noting that Lin Qijun did not respond to the profit expectation of the Thai project at the meeting. He only said that “he went to Thailand to build a production line mainly for the company’s high-end paper production raw materials.”
The CFA learned from the above industry sources that the head paper enterprises are facing certain difficulties in building waste pulp production lines in Southeast Asia. At present, only sun paper (002078. SZ) has a 400000 ton production line put into operation in Laos, and Jingxing paper (002067. SZ) is in the construction of 800000 ton production line in Malaysia, which is expected to be completed in the fourth quarter of this year, Before many paper enterprises announced the construction plan can smoothly advance are facing greater uncertainty.
Post time: Jul-16-2021