Fujian Nanping Paper published an interim report first half of 2009
Fujian Nanping Paper 21, the interim report released late first-half net loss 164 million, net profit of 261 million yuan last year, up by a large drop 729.738%; basic earnings per share -0.227 yuan, up 615.168% reduction; per share net assets of 2.930 yuan, compared with the end of last year fell 2.668 percent; ROE -7.761%, down 8.906 percentage points.
End of the reporting period, the total assets of Fujian Nanping Paper 4.318 billion yuan, an increase over the previous year end 18.829%; to achieve operating income 572 million yuan, down 25.43 percent over the same period the previous year; operating profit -1.70 billion yuan, a year earlier decreased 660.04%
The following as the main financial indicators:
Fujian Nanping Paper The reporting period, Huatai Asset Management Co., Ltd., the remaining eight non-public offering investors total shares held by Fujian Nanping Paper 21,750 shares was March 27, 2009 lifting of restrictions on circulation; according to the company shareholders approved split share reform program, the company selling restricted shares on May 15, 2009 the third of the outstanding shares, the conditions of this limited sale of shares to 231,482,964 shares of listed number.
The reporting period, international Financial Crisis on the negative real economy starts to bite Newsprint Products to domestic and foreign market demand shrunk dramatically and the price continued to fall sharply, leading to sharp drop in first-half economic benefits.
Report, but since the second quarter, the company is already working to actively respond effectively to curb the sharp drop in operating performance momentum.
Fujian Nanping Paper, said the report on gross margins down newsprint companies, mainly due to product Sell Prices drop impact; Natural Pulp year gross margin decline was largely a report of a substantial decline in pulp prices and company take the initiative to cut unit costs due to downtime.
2009 5 8, Fujian Nanping Paper 2008 Annual General Meeting passed the "intend to continue with the company in 2007 some non-public offering to raise funds for the time being idle for a motion to add the company liquidity," continue to be no more than 400 million yuan to raise funds for additional working capital the company to use the period from May 8, 2009 to November 7, 2009. End of the reporting period, the company has accumulated to use to raise funds 113,609,800 yuan, general meeting of shareholders approved the company would raise 399 million yuan of funds being used to supplement the company's liquidity and the rest to raise the concentration of funds to raise capital in the company accounts.
Company's non-public offering to raise capital investment projects?? Annual output of 180,000 tons of low quantitative offset newsprint paper integration projects with a total investment of 141,932 yuan, including raising capital investment 979,019,500 yuan. Total project financial expenditure during the period 588.8613 million yuan, of which raise investment 113,609,800 yuan.
Present, the civil engineering part of the project have been completed paper machine, the main structure of the construction into the mop-up stage, the imported equipment, domestic equipment and materials supporting the majority has been the arrival; May 18, 2009 started equipment installation, Currently more than half of equipment and pipe installation is complete, expected in September 2009 into the equipment commissioning, start feeding trial run in October, the report fail to produce benefits.
Company business plan prepared by revenue this year was 14.58 billion yuan, the report of the actual completion of 572 million yuan, 39.23 percent of the annual plan; year business plan prepared by the cost and the cost of 1.555 billion yuan, the report of the actual completion of 727 million Yuan, 46.75% of the annual plan.
The financial crisis impact on the real economy is still continuing, resulting in domestic and foreign demand is shrinking newsprint market, the domestic newsprint overcapacity, increased competition in the market, newsprint prices up sharply; the same time, the company closed orientation issue stock to raise capital investment projects?? "an annual output of 180,000 tons of newsprint offset paper integration project" is expected in October 2009 pre-production, yet produce benefits for the next reporting period, the company is expected to end early next year to the next reporting period the cumulative net profit is still a loss.
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