Paper take far-reaching energy saving "green" Express – energy conserv
Recently, Hebei Province, announced that as of October 30, the paper industry in the province will implement environmental protection order in the following all-out annual output of 34,000 tons straw pulp production plant, annual capacity 17,000 tons of chemical pulp production line the following , annual emission of 10,000 tons of substandard below to waste paper as raw material of paper making enterprises will also be closed down, a total of 37 paper-making enterprises out of scope; At the same time, Nanning, said the ban will shut down Pulp and paper production lines and 100 corporate wife and children, Chengdu and other places shut down operations are underway.
Eliminate backward production capacity, the process of shutting down small paper directly affects the paper industry supply and demand, profit improvement of the market, but also the integration of the industry has brought new opportunities. Industry insiders estimate that the industry boom is expected to continue to 2009 degrees, the size of the company integrated pulp and paper companies will take the green express energy conservation, to speed up the process of enclosure.
Energy saving effect will continue In accordance with the State Council issued a "comprehensive energy conservation program of work," paper industry "during" the goal of 650 million tons, the 2007 target of 2.3 million tons. With the arrival end of the year deadline, Orient Securities report forecast the impact of energy conservation in the fourth quarter will continue to appear.
Industry believes that the backward production capacity and scale of enterprises out of the further implementation of discharge standards, the paper industry will be further from the overall balance of supply and demand changes to the short supply and costs in the supply and demand gap and driven under the influence of price is expected to lead continue to rise, corporate profitability continues to improve. The price increases and improved capacity utilization will be the performance of listed companies in major driver of growth, and this trend is expected to be renewed in 2008, short-term positive effect on prices is expected to be more significant. The report also pointed out that in the fourth quarter related to the possible catalyst for listed companies is the paper stock prices continue to rise, if the energy saving policy in the fourth quarter to promote and strengthen, will bring more positive impact on the market, and promote the overall industry profit forecast and the valuation increase.
Out behind the paper industry is not only conducive to sustainable development, while promoting the integration of the industry to raise the degree of industry concentration, eliminate backward production capacity will be improved to some extent, the industry supply and demand and ease the strain on the resources, help with scale advantages of industry leading enterprises. Qi Minhua expects fourth-quarter paper prices of raw materials will remain high, and the rally was the main species of paper, showing some of the products to improve market supply and demand, costs are shifted, due to the bottleneck of raw materials remained significantly, paper integration is still the direction of development.
Benefit from integration of the leading companies to accelerate
According to industry expectations, with the acceleration of future industry consolidation, the domestic paper industry with more than 3,000 enterprises from the current substantially reduced, increased industry concentration and eliminate backward production capacity will bring the process to enhance gross profit margins in the paper industry , industry leading market share increase.
Statistics show that since the paper plate this year, the valuation levels improve, 2007,2008, respectively in the dynamic price-earnings ratio has risen to 35 times and 27 times. Qi Minhua said the newsprint industry leaders in China and Thailand share 2007,2008 dynamic price-earnings ratio was 28 times and 21 times the size of technological superiority of white card business in the Sun Paper in 2007,2008 respectively, the dynamic price-earnings ratio of 33 times and 24 times, the two companies all sub-sectors in the sub-leading position and has the scale, technology and management advantages, and business valuations lower than the industry average, this year's increase is also lower than the industry index.
This state has increased the intensity of energy saving, closing part of the straw pulp production line, sewage compliance culture for paper producers really good time. Domestic cultural paper market has shown a significant trend in short supply, many large manufacturers to sign the sales contract to January 1, price follow the market, volume is not signed to sign price, expected in the next few months, the supply of fine paper market will remain tight, the product Prices will continue to rise, Chenming Paper, China and Thailand share, Yingetouzi other companies will benefit.
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