Recently, printing and packaging and paper listed companies began to announce performance forecasts.
From the released earnings forecast, the phenomenon of polarization is more common. Either they do very well and grow profits substantially or turn around; Or a loss or a larger decline in the phenomenon. While the number of listed companies reporting earnings will be limited, we have the opportunity to peek into their 2021 results (most will be released around April), giving us a faster sense of where the industry is heading.
Paper enterprises: performance is generally bright
Sun Paper, Bo Hui paper, Jingxing paper and Castle Peak paper have announced the 2021 annual performance forecast, overall, the performance is quite bright.
Sun paper: parent net profit up 46%-60% year on year
January 27, sun paper announced 2021 annual results forecast. According to the forecast, sun paper's net profit attributable to shareholders of listed companies in 2021 is expected to be between 2.85 billion yuan and 3.12 billion yuan, a year-on-year growth of 45.92-59.75%.
Sun paper said that the annual performance of 2021 compared to the same period last year has a large increase, mainly due to the release of the company's new capacity in the reporting period, the production and sales of related paper products and wood pulp increased.
Bo Hui paper: mother net profit year-on-year growth of 93%-115%
January 27, Bo Hui paper issued 2021 annual performance pre-increase announcement. The announcement shows that Bohui paper is expected to achieve net profit attributable to shareholders of listed companies in 2021 of 1.61 billion yuan - 1.795 billion yuan, a year-on-year increase of 93%-115%.
Bohui paper said that in 2021, in the "ban on plastic", "ban on scrap" and other policies and the comprehensive impact of consumption upgrading, the company increased technology research and development, actively develop new products, grasp customer demand in different market segments, grasp the green development business opportunities, operating performance rose significantly compared with 2020.
Bohui Paper emphasizes that in 2021, the company will actively respond to industrial policy changes such as "double reduction" and "double control" to promote green, low-carbon and high-quality development. However, in the context of repeated COVID-19 outbreaks, the industry is facing triple pressures of short-term demand contraction, supply increase and weakening expectations in the second half of the year, and the external competitive environment of the company is becoming more severe and full of uncertainties. The company's product prices tend to be stable after falling in the third quarter, while the cost side is affected by the pro-cyclical rise of bulk commodities, and the cost of unit raw materials increases. The increase of unit cost and the decline of product selling price produced the "scissors difference" effect in the fourth quarter, resulting in the profit level in the second half of the year decreased significantly compared with the first half.
Jingxing paper: net profit growth of 30% to 60%
January 25, Jingxing paper announced 2021 annual results forecast. The forecast shows that The net profit attributable to listed shareholders of Jingxing paper in 2021 is expected to be between 176 million yuan and 215 million yuan, a year-on-year growth of 30% to 60%.
Jingxing paper said its operating income was up from last year thanks to the concerted efforts of all its employees. At the same time, the company strictly controlled costs through refined management such as process improvement, reasonable procurement and cost control, and the gross profit margin increased compared with last year.
Castle Peak paper: net profit growth of 130%-181%
January 24, Castle Peak paper issued 2021 annual performance pre-increase announcement. The announcement shows that Castle Peak paper in 2021 attributable to shareholders of listed companies net profit is expected to be 176 million yuan - 215 million yuan, year-on-year growth of 130%-181%.
Qingshan Paper said overall demand in the domestic paper industry will improve in 2021 as China's economy continues to recover steadily and the "double cycle" policy is implemented. At the same time, under the pull of policy factors such as "scrap ban" and "plastic limit order", the concentration degree of the domestic paper industry has been further improved, the industry prosperity continues to improve, and the price of pulp and paper has risen. Good company timely grasp the market, overcome the wood raw material supply tight, and the "double carbon", "double control" policy under the influence of coal, lime and other chemical materials rises, the new crown outbreak adverse factors, such as around the annual business plan objectives, close to the market, optimizing adjust the structure of products and raw materials, improve sales strategy and channels, quality efficiency achieved remarkable achievement, It promoted the high-quality development of the main pulp and paper business and significantly improved its profitability. During the reporting period, the selling price of the leading product, paper bag paper, increased significantly compared with the same period last year, and the profit of the main business increased significantly compared with the same period last year.
conclusion
To sum up, the four reported performance of paper listed enterprises generally outstanding performance. Bohui paper and Qingshan Paper doubled their net income to the parent, while Sun Paper and Jingxing paper rose nearly 50 per cent.
The reasons for the performance growth of the four listed papermaking enterprises are nothing more than the increase in demand brought by the market recovery, the concept of low carbon and environmental protection, and the rising price of raw materials with the increase of market concentration.
Among them, Bohui paper pointed out that in the context of repeated epidemic, affected by demand contraction and other factors, the profitability of the second half of the year, especially the fourth quarter, showed a downward trend. In the second half of 2021, the paper price does have a loose downward trend, but still hovering at a relatively high level, the actual impact on Bohui paper is actually limited. And Qingshan paper industry pointed out that paper bag paper price year-on-year to achieve a large increase, also led to growth.
Printing and packaging companies: performance was mixed
Different from the high performance of paper-making listed companies, the printing and packaging enterprises have published performance bulletins, the market performance is mixed: there are enterprises turning into profits, such as Shengtong shares; There are also enterprises from surplus to deficit, such as Xianggang Technology. Enterprises with substantial growth in performance, such as Shengxing Shares; There are also declining performance of enterprises, such as new Hong Ze.
Shengtong Shares: turn losses into profits, with net profit of 60 million yuan to 90 million yuan
January 21, Shengtong shares released 2021 annual performance forecast. According to the forecast, Shengtong shares will achieve net profit of 60-90 million yuan attributable to shareholders of listed companies in 2021, turning losses into profits.
Shengtong said that in 2021, the company's publishing, printing and packaging business will grow rapidly. In terms of publishing and printing services, with the continuous improvement of intelligence, the company relies on the "Shengtong Publishing Service Cloud platform" to continuously improve its operating efficiency. In the packaging business, benefited from the expansion of tianjin packaging capacity release, as well as the strong demand for pharmaceutical packaging, the company's packaging business to achieve rapid growth. During the reporting period, the comprehensive printing business made a profit of 110 million to 130 million yuan.
The company's education sector has been affected by the epidemic and the double reduction policy. At the same time, the education group has increased the investment in technology and teaching and research, increasing some costs. During the reporting period, the science and technology education service business lost 40 million to 50 million yuan.
Xianggang Technology: from surplus to deficit, net profit of -15 million yuan to -21 million yuan
January 27, Xianggang technology released the 2021 annual performance loss announcement. The announcement shows that Xianggang Technology in 2021 net profit attributable to shareholders of listed companies is -15 million to -21 million yuan.
Xianggang technology said that the company's packaging and printing business products for color boxes, labels and other packaging and printing products, the main raw materials for paper. In 2021, the price of packaging paper of each major paper factory will rise significantly, resulting in a significant increase in the paper purchase price of the company, and a corresponding significant increase in the cost of color box and label products, which brings great pressure to the profitability of the company's packaging and printing business.
At the same time, Shanghai Jinting Cosmetics Co., Ltd. is a subsidiary of the company for the implementation of cosmetic OEM/ODM business. In 2021, the company is still in a loss for the second year of production.
Xianggang Technology emphasizes that the main products of the company's packaging container business are plastic bottles, plastic cans and other plastic packaging products, and the downstream customers are mainly related to daily consumer goods enterprises. In 2020, due to the impact of the epidemic, the demand for daily consumer products in the packaging container business increased significantly, and the demand for such products decreased significantly in 2021.
In addition, the national social security preferential policies implemented in 2020 were cancelled in 2021, leading to a large increase in labor costs.
Shengxing shares: the mother's net profit rose 1117%-1233%
January 22, Sheng Xing shares released 2021 annual performance forecast. The forecast shows that sheng Xing shares in 2021 net profit attributable to shareholders of listed companies is 160 million yuan to 180 million yuan, up 1116.90% to 1232.73% over the same period last year. Sheng Xing shares also forecast revenue, revenue is expected to be 5.08 billion yuan to 5.2 billion yuan, breaking through the 5 billion yuan mark, year-on-year growth of 74.99%-79.12%.
According to Shengxing, the market demand and orders of the company's main products have increased significantly year-on-year, and have exceeded the average level of normal years. In particular, the new customers of energy drink have been added, and the order growth trend is significant, thus driving the double growth of the company's main business of canning and filling. At the same time, the company through a variety of ways to actively respond to the impact of adverse factors of raw material prices, actively promote the production and manufacturing cost reduction and efficiency measures and continue to expand market share and other management work, achieved a rapid year-on-year growth in 2021 performance.
At the same time, the company's high-end aluminum bottle project market development has made breakthrough progress, in the continuous release of capacity, 2021 business growth; The company continues to extend the industrial chain, improve the layout of production bases in the southwest market, and accelerate the expansion of overseas markets, providing the company with overseas sales revenue growth point.
New hongze: return mother net profit year-on-year decline 55%-70%
January 25, new Hongze released 2021 annual performance forecast. The forecast shows that the net profit attributable to the shareholders of the new Hongze listed company in 2021 is 9.6393-14.458,900 million yuan, down 55%-70% year-on-year.
New hongze said that in addition to the impact of non-recurring profit and loss decline, due to the adjustment of customer processing orders during the reporting period, cigarette label orders compared with the same period last year.
Jiyou shares: parent net profit will increase about 89.47% year on year
January 12, set friends shares issued 2021 pre-increase announcement. The announcement shows that jiyou shares in 2021 attributable to listed shareholders of net profit of about 136 million yuan, compared with the same period last year will increase about 6422.27 million yuan, year-on-year will increase about 89.47%.
Jiyou shares said that the company's pre-increase in performance is mainly due to the 2021 annual operating income of tobacco standard income increased compared with the previous year; Secondly, the share payment expenses related to equity incentive in 2021 are included in management expenses less than the previous year. Finally, the provision for impairment of goodwill in 2021 will reduce the current profit.
conclusion
The above five reported results of the printing and packaging listed enterprises, sheng Tong shares turned profit, Xiang Gang technology from profit to loss, and the new hong Ze mother net profit is down 55%-70%, sheng Xing shares both revenue and profit have achieved a substantial growth, set friends shares to mother net profit growth of 90%.
It should be pointed out that although Shengtong shares turned a loss into a profit, it was mainly driven by the printing business, while the education business suffered a large loss due to the epidemic and the double reduction policy.
Xianggang Science and Technology emphasizes that the paper price has risen significantly, resulting in a significant increase in procurement costs, which will affect the level of profitability. Combined with the performance of listed papermaking enterprises, it reflects the contradiction and conflict between the profits of printing and packaging enterprises and the profits of papermaking enterprises.
And new macro ze profit decline, also with set friends share profit growth form a sharp contrast. New hongze cigarette standard orders compared with the same period last year, while jiyou shares cigarette standard income increased compared with the previous year.
Shengxing shares by the impact of new customers, the order growth trend is significant, thus eliminating the adverse factors of rising raw material prices.
In general, although the reasons for the growth or decline of listed papermaking enterprises and printing and packaging enterprises are not the same, but affected by the price of raw materials such as paper price rise and other factors, papermaking listed enterprises generally gave a good answer. In contrast, printing and packaging enterprises can not bypass the growth of raw materials this topic. As an upstream and downstream industry, the relationship between paper enterprises and printing and packaging enterprises is not just a zero-sum game, but a win-win opportunity should be found together.
Just yesterday (Jan 27), the National Bureau of Statistics released the economic performance of industrial enterprises above designated size in 2021. Data showed that the revenue of industrial enterprises above designated size reached 127.92 trillion yuan, an increase of 19.4 percent over the previous year. Its total profit was 8.70921 trillion yuan, up 34.3% over the previous year; Profit margin on operating income was 6.81%, 0.76 percentage points higher than the previous year. The overall performance was quite good.
However, the printing industry is one of the industries with negative profit growth for the second time since 2020. Revenue of enterprises above designated size reached 744.23 billion yuan, up 10.3% year on year; Profits totaled 42.84 billion yuan, down 0.4 percent year-on-year. From the data point of view, the gap between industrial enterprises above the scale is widening.
It should be noted that the above figures are still for large enterprises (annual revenues of more than 20 million yuan), and the situation may be even worse for companies in more industries. For the printing and packaging the listed companies, even in the midst of a good platform for the economies of scale and financing, in 2021 the overall performance is not ideal to the growth of the industry background, each enterprise are not immune, both intelligent and automation level of ascension, the release of new capacity, the development of new customers, or multiple business, Are the key to promote the growth of printing and packaging enterprises, enterprises need to pay great attention to.
