On the afternoon of November 18, Shanying Paper announced that it will issue a total of 2.3 billion convertible bonds on the Internet and offline respectively on November 21. The funds raised will be used for the cogeneration project of Yangjiachang Industrial Park in Gong'an County and the high-end packaging board project with an annual output of 2.2 million tons (Phase III).
Annual production of 490,000 tons of packaging paperboard project, plans to invest 1 billion yuan
Among them, the annual output of 2.2 million tons of high-grade packaging paperboard project (Phase III) is planned to invest 1 billion yuan, and it is planned to build a production line with an annual output of 490,000 tons of PM26 silver fir/redwood (including pulping) and build a water treatment station. Finished product warehouse (shelf automatic warehouse), office R&D building, multi-functional activity center, supporting service building and staff dormitory, water source engineering, information network, communication and fire alarm system.
The construction period of the project is 24 months. Shanying Paper expects to achieve a production rate of 80% in the first year of production, 126.263 million yuan in the first year of production, 100% in the second year of production, and 157.29 million yuan in sales.
Three major reasons for Shanshan Paper to expand production capacity
Shanying Paper has been engaged in the production of packaging paper and has more than ten years of experience in the production of packaging paper. It is the third largest manufacturer of packaging paper in the country. The fund raised for the construction of an annual output of 2.2 million tons of high-grade packaging cardboard project (three issues), the main reasons are three points:
1. Conduct multi-point layout to develop the Yangtze River Economic Belt and the Central China Market
The transportation cost of papermaking projects is relatively high, so it is generally sold nearby. If you want to open up the market, you need to carry out multi-point layout. The company's main papermaking bases are located in Maanshan, Anhui and Jiaxing Haiyan, Zhejiang. These two bases are mainly for the East China market. In January 2018, the company expanded its share of this important market in South China by acquiring Fujian Liansheng Paper Co., Ltd.
The project is one of the subprojects of the company's annual output of 2.2 million tons of high-grade packaging paperboard project. The company laid out the project in the public security county of Jingzhou City, Hubei Province, which is an important measure for the company to open up the market in the Yangtze River Economic Belt and Central China.
2. The state strengthens environmental protection verification, and a large number of small paper mills are eliminated.
In recent years, the state has vigorously strengthened environmental protection verification, strengthened the rectification of small paper mills with high pollution levels, and required small paper mills to increase environmental protection facilities and environmental protection investment, so that small paper mills are not economically viable, and the backward production capacity of a large number of small paper mills is cleared. Retreat.
The paper industry caused the supply of packaging paper market to be in short supply, and the price of paper rose sharply. The average price of the company's containerboard paper excluding tax increased from 2,469.78 yuan/ton in the first quarter of 2016 to 4,093.34 yuan/ton in the fourth quarter of 2017, up 65.74%. The supply of packaging paper market is in short supply. Papermaking projects that require environmental protection, energy conservation and less pollution are entering the market, alleviating the situation of short supply.
3. There is an urgent need to expand production capacity to meet the rapid development of the company's business.
In recent years, the company's business has developed rapidly. In 2017, the company's operating income was 17.47 billion yuan, an increase of 43.96% over the previous year. The net profit attributable to shareholders of listed companies was 2.015 billion yuan, an increase of 471% over the previous year.
In 2017, the company achieved a papermaking output of 3.5576 million tons. The company's current production capacity has been unable to meet the rapid development of market demand, and it is urgent to expand production capacity to meet the growing market demand and the rapid development of the company.
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