林平发展上交所IPO“已问询” 现有原纸产能为120万吨

Core Viewpoint - Anhui Linping Circular Development Co., Ltd. is undergoing a change in its listing status on the Shanghai Stock Exchange, now marked as "inquiry stage," with plans to raise 1.2 billion RMB [1] Company Overview - Linping Development specializes in the research, production, and sales of corrugated paper and boxboard products, recognized as a high-tech enterprise with independent R&D capabilities [1] - The company has evolved into a resource comprehensive utilization enterprise, integrating waste paper recycling, cogeneration, and green papermaking [1] - Environmental protection and resource recycling are prioritized through various processes, including waste paper utilization and wastewater treatment [1] Industry Context - The number of paper and board production enterprises in China is approximately 2,600, with only 30 producing over 1 million tons annually [2] - Linping Development's current production capacity is 1.2 million tons, ranking among the top 30 paper producers in China, with a projected output of 1.0197 million tons in 2024 [2] - The company holds a significant market share in Anhui Province, accounting for 35.65% of the province's paper and board production and 0.75% of the national total [2] Fundraising and Investment Projects - The company plans to invest in projects including a 900,000-ton green intelligent manufacturing new materials project and a 600,000-ton bio-based fiber green intelligent manufacturing project, with total investments of approximately 2.05753 billion RMB [3] - The total fundraising amount is set at 1.2 billion RMB, with specific allocations for the aforementioned projects [3] Financial Performance - Revenue for 2022, 2023, and 2024 is projected at approximately 2.879 billion RMB, 2.8 billion RMB, and 2.485 billion RMB respectively, with net profits of about 154 million RMB, 212 million RMB, and 153 million RMB [3] - Total assets are expected to reach approximately 2.1409 billion RMB by the end of 2024, with a debt-to-asset ratio of 37.70% [4] - The company’s basic earnings per share for 2024 is projected at 2.70 RMB, with a return on equity of 12.27% [5]