On October 12, the A-share listed company Minfeng Special Paper released its performance forecast for the first three quarters. The company expects its performance to increase significantly from January to September 2024. The net profit attributable to shareholders of the listed company will be 61 million, with net profit increasing 124.00% year-on-year. .
The company made the above prediction based on the following reasons: (1) Impact of main business. 1. During the reporting period, the company insisted on focusing on both production and operation and project construction, ensuring the stability of the company's overall operations. 2. Through external control of procurement costs and internal control of production consumption, the company's main raw and auxiliary materials, wood pulp and coal, have decreased year-on-year, ensuring that operating costs have decreased year-on-year. 3. The company will be recognized as an advanced manufacturing enterprise in 2023. According to the super deduction policy, the company’s accumulated input tax for the whole year of 2023 (and the current period of 2024) will be deducted by an additional 5% of the value-added tax payable. Other income for the current period resulted in an increase in operating profit.
(2) The impact of accounting treatment. The accounting treatment has no significant impact on the company's performance forecast.
(3) The comparison base of the previous year is small.
The company's industry is papermaking.
The main business of Minfeng Special Paper Co., Ltd. is the research and development, production and sales of special paper products. The main products are paper series for tobacco industry, transparent paper series, glassine paper series and coated paper series. The company is one of the few old paper-making enterprises in China with a history of nearly a hundred years. Since its establishment in the 1920s and 1930s, the "Minfeng" trade name and the "Chunpai" trademark have enjoyed a high reputation in the domestic papermaking industry. It has won honorary titles such as "National Inspection-Free Product", "Chinese Time-honored Brand", Jiaxing Mayor Quality Award, and provincial and municipal famous trademarks and famous brands.
