The main basis for the second quarter profit growth (1) 09 in the high operating rate to continue inventory: compared with the first two quarters of paper stocks to reduce production or even stop production methods, the mainstream manufacturers' operating rate has increased significantly since March, indicating that demand is picking up. Therefore, the sales volume of this season will increase, and the gross profit margin is expected to further increase under the improvement of supply and demand.
(2) Rising raw material prices: domestic spot pulp prices and imported waste paper prices are picking up, which is conducive to the resumption of domestic pulp production, the promotion of paper price hikes to stimulate the recovery of downstream reasonable stocks, and the depreciation of raw materials inventories at the end of last year. Prepare or form a sufficient flush.
(3) The new environmental protection standards have been implemented on May 1 and the stock capacity withdrawal is still expected.
It is estimated that the profit in the second quarter will drop by 60% year-on-year. It is estimated that the accumulated profits of the seven mainstream manufacturers will reach 410 million yuan, although it will still fall by 60% compared with the 08 in the industry boom period, but will rise by about two times from the previous quarter. Gross profit margin will also increase rapidly from 10.2% in the previous quarter to 16.8%
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