Price Adjustment - Major paper companies such as Shanying, Jiu Long, APP, and Asia Pacific Forest have announced price increases for their products, effective from late November to early December. The price increase for packaging paper is around 50 yuan per ton, while cultural paper prices have risen by 200 yuan per ton [1] Industry Overview - As of November 26, there are 229,200 existing paper-related enterprises in China. The annual registration of paper-related companies has remained between 17,000 and 23,000 over the past decade, with a peak of 22,200 registrations in 2023. For 2024, a total of 18,600 registrations are expected, with 15,700 already registered this year [4] - The majority of paper-related enterprises are established companies, with 36.88% having been in operation for over 10 years. Companies established between 5-10 years and 1-3 years account for 28.18% and 14.69%, respectively [6] Capital Structure - Most paper-related enterprises are lightweight in terms of registered capital, with over half (54.54%) having a registered capital of less than 1 million yuan. Additionally, 22.18% have registered capital between 1 million and 2 million yuan, while only 1.33% have registered capital of 50 million yuan or more [9]