Chenming Paper Announces 2008 Annual Results, Profit Attributable to Equity Holders Surges by 10.9% to RMB1.1 Billion.Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , Apr 9, 2009 - (ACN ACN Accenture (stock symbol)
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ACN Anglican Communion Network Newswire) - Shandong Chenming Paper Holdings Limited ("Chenming Paper" or the "Company"; stock code for H shares: 1812 / stock code for A shares: 000488 / stock code for B shares: 200488) , the largest paper producer in China, today announced its annual results for the year ended 31 December 2008 ( the "year under review").
Chenming Paper recorded steady growth for the year under review. Revenue for the Company rose 3.7%% to RMB RMB Right Mouse Button
RMB Regional Management Board (USACE)
RMB Rolf Maier Bode (musician, band)
RMB Ren Min Bi (currency of People's Republic of China) 15,430,910,000 as compared to the corresponding period of the previous year. Profit before tax increased by 4.4% to RMB1,590,797,000 and profit attributable to equity holders of the Company surged by 10.9%% to RMB1,102,288,000. The increase in revenue was mainly due to an expanded production scale benefiting from the commencement of production of the 98,000-tonne annual capacity waste paper project, the 120,000-tonne annual capacity art paper project and the Jilin 300-tonne daily chemical pulp production line, while the proprietary 300,000-tonne per annum Per annum
Yearly. super art paper project and the Jilin 180,000-tonne light weight coated paper Coated paper is paper which has been coated by an inorganic compound to impart certain qualities to the paper, including weight and surface gloss, smoothness or ink absorbency. Kaolinite is the compound most often used for coating papers used in commercial printing. project achieved benchmark during the reporting period. In addition, the sales price for the year on an integrated basis was higher than that of 2007. Basic earnings per share of the Company amounted to RMB0.58. The Board has recommended the distribution of a final dividend of RMB0.05 per share.
Commenting on the first annual results announcement since its listing on the main board of the HKEx, Chairman of Chenming Paper, Mr. Chen Hongguo, said "In 2008, the Company was listed successfully in Hong Kong and became the first company to have A shares, B shares and H shares listed in China and Hong Kong, which marked an important milestone in the Companys history. Despite the turnaround of the domestic economy from rapid development to slowdown due to the global financial crisis, the Company achieved a growth of 300,000 tonnes in annual paper production as compared with 2007 and maintained an increase in sales price by leveraging on the Companys leading position in the industry. At the same time, the Company had taken effective measures to tackle all challenges, including reinforcing its efforts in research and development of new products to optimize product offerings, adopting flexible sales strategies to lower inventory levels, implementing a policy to avoid business risks and strengthening controls on raw materials procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. to minimize costs. All of these contributed to the increase in operating efficiency
and in turn the steady growth in profits of the Company."
During the year under review, the Company has enhanced its product innovation ability by utilizing its established national-level technology centers and post-doctoral technological research workstations, as well as cooperating with advanced international corporations such as Arjo Wiggins of France and Sappi of South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. . As a result the Company has been able to produce a series of high value-added new products that accommodate market demand, such as lightweight paper for phone books and low gram copperplate cop·per·plate
1. A copper printing plate engraved or etched to form a recessed pattern of the matter to be printed.
2. A print or engraving made by using such a plate. paper. These further enriched the Companys product mix and strengthened its competitiveness, thereby helping build its international brand image in both domestic and overseas markets.
The Company has also strengthened controls on its products and production line in order to enhance its management capabilities. Optimizing the production process by recycling recycling, the process of recovering and reusing waste products—from household use, manufacturing, agriculture, and business—and thereby reducing their burden on the environment. wastewater and other waste emissions, together with operations involving the mixed usage of solid waste substances, resulted in energy savings and reduced emissions and created a win-win situation economically and environmentally.
Looking ahead, although the global financial crisis has brought uncertainties to the business environment for all industries, Chinas papermaking pa·per·mak·ing
The process or craft of making paper.
paper·mak industry is still experiencing a general growth trend. The Company believes that, following the integration of the market in the second half of 2008, the papermaking industry will begin to stabilize stabilize
See peg. and the price for upstream raw materials and paper products can be maintained at a reasonable point of balance for profitability. The implementation of new environmental protection policies and renewed efforts in implementing policies related to the papermaking industry will lead to a higher degree of industry concentration which will be beneficial to enterprises of larger scale.
In respect to raw material supply, the Company established the Zhanjiang wood pulp wood pulp: see paper. project and ancillary raw materials bases as its major development targets. At present, 3 million mu of raw materials base in the Zhanjiang wood pulp project is under development smoothly and on schedule. The selection of land sites, legal and commercial exchanges, and construction of apparatus have already been completed. The implementation of this project will mean a new raw material structure for the Company with its proprietary wood pulp as the backbone and waste paper as a complement, further reducing the proportion of wood pulp purchased from external parties. The Company also accelerated the construction of the Hubei forestry project base, establishing a "forestry-pulp-paper integration" production chain and strengthening the sustainable development Sustainable development is a socio-ecological process characterized by the fulfilment of human needs while maintaining the quality of the natural environment indefinitely. The linkage between environment and development was globally recognized in 1980, when the International Union capacity of the Company.
Mr. Chen concluded, "Looking ahead in 2009, we will accelerate the adjustment of our product structure to improve technical equipment and product grades, proactively develop new products, reduce emissions, enhance energy savings and accelerate the forestry-pulp-paper integration, strengthening the Companys leading position in Chinas papermaking industry. We will also take advantage of our capital operation to seek potential merger and acquisition opportunities, aiming to become a premier paper producer in the world and maximize the returns to our shareholders."
About Chenming Paper Holdings Limited
Chenming Paper was the first company listed with A shares, B shares and H shares in mainland China and Hong Kong. Chenming Paper is the largest paper producer in China in terms of sales Terms of sale
Conditions under which a firm proposes to sell its goods or services for cash or credit. revenue over consecutive years, according to according to
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
3. the China Paper Association. It is also the 25th largest paper producer in the world in terms of annual production capacity. The Company currently operates 9 production bases with an annual production capacity of more than 3 million tonnes. Chenming Paper produces seven main categories of paper products, including art paper, light weight coated paper, white paper board, duplex (communications) duplex - Used to describe a communications channel that can carry signals in both directions, in contrast to a simplex channel which only ever carries a signal in one direction. press paper, writing paper, news press paper and paperboard paperboard, material similiar in shape and composition to paper, but generally thicker, stronger, and more rigid. Paper machines, e.g., Fourdrinier machines, are used to make sheets of paperboard. . In 2007, the "Chenming" trademark was named a China Well-known Trademark by the State Administration for Industry and Commerce.
Source: Chenming Paper Holdings Limited
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