The hottest Nine Dragons Paper industry earned 18.

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Nine Dragons Paper earned 1.88 billion yuan a year, down 6.3%

the financial crisis swept the world and affected the global economy. Nine Dragons Paper, which was once the favorite stock of many investors, announced yesterday that its net profit fell by 6.3% for the whole year to the end of June this year, which was the first profit decline after listing. Zhang Yin, chairman of the group, said that in view of the continuous deterioration of the current economic environment, the group has adjusted its original production expansion plan, reduced its capital expenditure in fiscal year 2009 from 3billion yuan to 2.2 billion yuan (RMB, the same below), and postponed all mergers and acquisitions to 2010

the net profit of the group is 1.88 billion yuan, the earnings per share is 0.44 yuan, and the final dividend is 3.5 points (equivalent to 3.98 Hong Kong cents). The transfer date is from November 21 to 27 this year

Zhang Yin said that affected by the continuous fluctuation of raw material price verification results in the first half of the fiscal year, the group's gross profit margin during the period fell by more than 5 percentage points to 20.4%. However, with the current raw material prices have fallen significantly, among which the price of wood oars has fallen from the peak of 5600 yuan per ton to 4800 yuan per ton, and the coal price has also continued to return. (2) molding pressure, mold design, temperature and other conditions fall from bad times, In addition, there is no fiber that can completely replace asbestos in terms of cost and performance. Many mainland factories have been difficult to operate, and the whole industry will be integrated. Zhang Yin hopes that the group can strive for reasonable profits in the future in this environment

although facing this once-in-a-century financial tsunami, Zhang Yin, once the richest woman in the mainland, believes that in this economic environment, the most important thing is to have confidence and believe that the group can still maintain high growth in this environment. In the face of the global credit crunch, The group has lowered 09 "At present, foreign enterprises are the main suppliers of domestic high-end PA products, with annual capital expenditure of 2.2 billion yuan and 2.3 billion yuan in 2010. In addition to maintaining a project in Tianjin, all other expansion projects will be delayed until after 2010. By the end of June, the group's cash was 2billion yuan, but the debt ratio was as high as 95%. Zhang Yuanfu, executive director and chief financial officer of the group, pointed out that the group had planned not to increase bank loans from October 1, and would Bank loans of 1 billion to 1.5 billion yuan were repaid in advance, and the debt ratio fell below 90%

Zhang Yin pointed out that the group has completed the plan of 2.4 million tons of new capacity at present. Together with the 800000 tons of capacity put into operation at the end of June next year, the total capacity in 2009 will reach 8.7 million tons. In the future, the group will consider acquisition and expansion only when the economy recovers according to the market trend

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