Core Viewpoint - Anhui Linping Circular Development Co., Ltd. successfully listed on the Shanghai Stock Exchange, marking it as the first listed company in Anhui province in 2026 and the fourth on the main board of the Shanghai Stock Exchange [1] Group 1: Company Overview - Linping Development focuses on the research, production, and sales of corrugated paper and boxboard, which are the largest products in China's paper and board industry, widely used in logistics and packaging [3] - The company ranks among the top in the industry in terms of production capacity, with raw paper output of 863,800 tons in 2022, projected to reach 1,053,500 tons in 2024 [3] - Linping Development has established long-term partnerships with well-known companies such as Hexing Packaging and Xiamen Guomao, enhancing its market position [3] Group 2: Financial Performance - The company demonstrated strong profitability with revenues of 2.879 billion yuan in 2022, 2.800 billion yuan in 2023, and projected 2.485 billion yuan in 2024, alongside net profits of 154 million yuan, 212 million yuan, and 153 million yuan respectively [4] - For the first ten months of 2025, the company achieved revenue of 2.193 billion yuan and a net profit of 136 million yuan, indicating a stable operational trend [4] Group 3: Market and Policy Environment - The company benefits from national support for resource recycling industries under the "dual carbon" goals, aligning with the country's strategy for circular economy and green industries [5] - The booming e-commerce and logistics sectors are driving demand for packaging paper, with national paper and board consumption expected to reach 136.34 million tons in 2024, a year-on-year increase of 3.56% [5] Group 4: Research and Development - Linping Development maintains a high level of R&D investment, with R&D expenses consistently above 3% of revenue, totaling approximately 94.79 million yuan in 2022 [5] - The company has obtained 27 patents, focusing on key areas such as wastewater treatment and energy-efficient production, which enhance resource utilization and reduce operational costs [5] Group 5: Future Growth and Capital Utilization - The funds raised from the IPO will be used for projects aimed at increasing production capacity, including a 900,000-ton green intelligent manufacturing project and a 600,000-ton bio-based fiber project [6] - Upon completion, the company's total raw paper capacity will increase from 1.15 million tons to 2.35 million tons, aligning with industry trends towards lightweight, high-strength, and environmentally friendly packaging [6] - The successful listing opens avenues for Linping Development to leverage capital for accelerated growth, reinforcing its competitive edge in the industry [6]
沪市主板迎安徽本年首家上市企业，林平发展以绿色循环夯实发展根基