Paper Plate bullish brokerage report overall outlook – broker reports, paper pla
Prior to listing in Country Garden, around the Nine Dragons Paper's richest woman who makes the paper plate ring into the investor's perspective frequently. On the one hand, RMB appreciation to lower import costs pulp; the other hand, pollution control requirements of environmental protection but also bring the industry's leading edge companies to maintain and expand the industry, it is these factors make research institutions are very positive about the paper in 2008 Plate prospects. A-share market this week on a continuous slump of the Sun Paper, Bo Paper downward rigidity it is not hard to understand.
Galaxy Securities: Cost pressures ease to enhance the level of profitability
International commodity pulp market because of the gradual decline in capacity utilization are facing downward pressure, which will help pulp self-sufficiency rate of less than 50% of the cost of the domestic paper industry out of the shadow front; the same time, expectations of faster appreciation of the yuan will strengthen the positive; the paper industry levels of profitability due to cost pressures will ease and sharply. Revenue growth and profitability to improve a double promotion, will contribute to earnings per share of listed companies increased an average of more than 30%.
Galaxy Securities statistics, the paper industry's main products in 2007? 2008 are in the running of the contraction phase of production, including newsprint, coated paper and coated paperboard production capacity should be the new launch is less than in previous years, the the proportion of original production was also lower. The containerboard expansion by the impact of several major manufacturers in 2007? 2009 production release period is at the peak. According to Galaxy Research
macro forecast, 2008, the RMB has appreciated against the U.S. dollar may reach 10% if it is really accelerated appreciation of yuan, will help reduce the prices of imported raw materials, improve the profitability of domestic enterprises. In the case of constant prices of waste paper, 10% appreciation of the RMB exchange rate, newsprint gross margins will increase 4 percentage points; coated gross margin will increase 5 percentage points.
Galaxy Securities that King Hing Paper Sun Paper and the most investment value of the two stocks, while China and Thailand share prudent recommendation, Yingetouzi, Bo Chenming Paper and paper.
CIC Securities: market boom of the child are different
In accordance with the terms of the analysis of investment securities, the paper industry boom of the order sub-products are: cultural paper, white cardboard, art paper, cardboard, newsprint.
Because the state "energy saving" the full implementation of the policy can lead to miscarriage paper mill shut down, turn off the main straw pulp production line, about 1 / 3 of the culture of paper production. If the scheduled shutdown related to 2.5 million tons, culture paper industry supply and demand gap will occur about 80 million tons of product price will be demand-driven rise. With the increase domestic production, imports decreased, exports are rising rapidly, new capacity in the domestic white cardboard essential to digestion. The White Card strong dependence on imported waste paper, waste paper raw materials rose sharply will drive up the price of white cardboard, white cardboard expected prices in 2008 will continue to rise slightly. As the rising level of national consumption, production and sales of domestic coated paper Liangjun rapid growth. 2007 hike coated paper prices throughout the year, is expected in 2008 will be mainly driven by domestic demand, price stability slightly. Cardboard paper industry in China occupies an important position in the paper kind, paper industry growth rate was significantly higher than the overall pace of development, will present "low to high" trend.
Cast securities that will start this year, the domestic newsprint market, full of self-regulation. Domestic newsprint consumption will be flat in 2007, production capacity because no new release has not increased, large manufacturers actively looking for export, some small newsprint producers can not afford to continue to rise because prices of raw materials and cut-off closure of newsprint The new round of consolidation and restructuring of the industry will be staged.
CIC Securities believes that the economy should be looking for high variety of paper and long-term ability to find sustainable development company, focused on recommended Chenming Paper, Huatai shares, Bo Hing Paper Paper and King.
Changjiang Securities: corporate environmental pressure for a large paper
In several brokerage firms, the Changjiang Securities on the paper plate took a very clear, in addition to the industry's rating from "neutral" to "optimistic", but also with "the turning point pulp, paper Feast" to describe the paper industry in 2008.
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