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  • Started 1 year ago by ln6k7lrg3
  1. ln6k7lrg3
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    Nine Dragons Paper full-year profit fell 11,hogan outlet milano.49%

    Shu Xu Huan

    Nine Dragons Paper (02689.HK) yesterday announced full year results at the end of June this year. Full-year profit fell 11.49 percent, to 1.661 billion yuan (RMB, the same below), by the news,woolrich parka uomo, Nine Dragons Paper shares fell 2.41% yesterday to close at HK $ 10.52.

    Nine Dragons Paper noted that full-year results fell mainly due to product price decline during the period, so that decrease in sales,pandora saldi, according to company statistics, cardboard,charm pandora, high-strength corrugated paper and coated duplex board in fiscal year 2009 the average sale price decline of about 27.7%,moncler prezzi, 27.6% and 19.2% respectively. Domestic consumption is still the main source of income markets Nine Dragons Paper, related sales accounted for approximately 80.2% of total sales, while the remaining sales revenues are mainly sold to foreign processing enterprises,spaccio peuterey, settled in foreign currency.

    Nine Dragons Paper currently outstanding bank lending has decreased, from 14.96 billion yuan ended December 2008, 1.134 billion yuan to reduce to about 13.828 billion yuan. Wherein the 1-year maturity is 11 million,hogan, 1 to 2 years maturity was 78 million, 2 to 5 years maturity 30 million, leaving nearly 19 million 5-year maturity is. The company said that the current capital adequacy,hogan lovells, bank credit last month has increased to 100 million in net borrowings to total equity ratio of 102.7% also ended by the end of December 2008,hogan interactive, was reduced to about 82.4% of the end of June 2009 ended. Nine Dragons Paper's management said that this was mainly due to the repayment of bank loans and repurchase of senior notes due. Chief Financial Officer Yuan-Fu Zhang said,louboutin paris, to 2011 the ratio will fall to 60-70% of the target level.

    In the financial tsunami,charm pandora, the global consumer spending is shrinking, the price of Nine Dragons Paper products also become the focus of investors. But Nine Paper Zhang Yin,hogan prezzi, chairman yesterday in an interview with CBN reporter,hogan, said that so far this year,hogan outlet milano, the sales price of the company related products continued to rise,scarpe hogan, she estimated that the 2010 gross margin can be maintained at least at the level of about 22.9%.

    "The current price of the product has been returned to a normal level, waste paper prices will fluctuate, but is not expected to decline significantly." She said.

    Zhang Yin also revealed that the current domestic demand growth is very strong,charm pandora, she expects the international market in 2010 than in 2009 performance is more ideal, currently the group's inventory has fallen to two weeks,louboutin paris, the amount of raw material inventory is about 20 days. She said the company's products have been in short supply, so optimistic about the market conditions next year. "We are optimistic about the growth of demand for foreign paper market, but also will focus on the sales of the domestic market demand, the ratio of domestic and foreign markets is expected next year will remain at 80:20." Zhang Yin said.

    Nine Dragons Paper Vice Chairman Liu Ming said that as optimistic about the domestic paper market, will spend 6 million to build high-end products, while the fourth group production base - Tianjin base officially put into operation in September this year, when the Group's overall production capacity will push to 8.82 million tons.

    Nine Dragons Paper also plans to expand its capital expenditure. Chief Financial Officer Yuan-Fu Zhang at the annual results press conference, said fiscal 2010 capital expenditures will reach about 25 billion 2011 capital expenditures will reach 15 billion yuan, mainly for the construction of harbors,hogan rebel, power plants and increase production machines.

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