开盘价63.11元，林平发展登陆沪市主板

Core Viewpoint - Linping Development has successfully listed on the Shanghai Stock Exchange, marking a significant milestone as the first listed company in Anhui Province in 2026, with a strong opening performance and a commitment to sustainable development and innovation in the packaging paper industry [1][5]. 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 research and innovation capabilities [1][5]. - The company has evolved into a resource comprehensive utilization enterprise, integrating waste paper recycling, cogeneration, and green paper-making [1][5]. - Linping Development has received multiple prestigious recognitions, including being named a national-level "specialized, refined, and innovative" small giant enterprise and a national-level "green factory" [1][5]. Financial Performance - The company reported revenues of 2.879 billion yuan, 2.800 billion yuan, and 2.485 billion yuan for the years 2022, 2023, and 2024, respectively, with net profits of 154 million yuan, 212 million yuan, and 153 million yuan during the same period [4][8]. - The comprehensive gross margin improved from 7.67% in 2022 to 10.32% in the first half of 2025, indicating a positive trend in profitability [4][8]. Production Capacity and Expansion Plans - Linping Development currently operates five production lines with a total raw paper capacity of 1.15 million tons, and plans to expand its production capacity significantly through new investments [3][7]. - The company aims to introduce advanced production lines to increase the production scale of low-weight, high-strength boxboard, adding 900,000 tons of boxboard capacity and 300,000 tons of corrugated paper capacity, bringing total raw paper capacity to 2.35 million tons [3][7]. Industry Trends - The domestic consumption of boxboard and corrugated paper is expected to grow at a compound annual growth rate of approximately 4.8% from 2015 to 2024, with a shift towards high-end, high-tech, and high-value-added products [4][8]. - The company plans to focus on the research and production of low-weight, high-strength raw paper to align with industry trends and enhance its core competitiveness in the packaging paper sector [4][8].