Investment Rating - The report does not explicitly provide an investment rating for the corrugated and boxboard paper industry Core Insights - The average price of corrugated paper is 2783.4 CNY/ton, up 1.4% week-on-week, but down 0.3% year-on-year [4][22] - The average price of boxboard paper is 3565.0 CNY/ton, up 0.6% week-on-week, but down 1.8% year-on-year [9][39] - The gross profit margin for corrugated paper is 13.1%, unchanged from the previous period, while the gross profit margin for boxboard paper is 21.6%, down 0.4 percentage points [9][41] - The production of corrugated paper is 481,000 tons, up 2.1% week-on-week, while boxboard paper production is 624,000 tons, up 0.4% week-on-week [9][48] - The inventory days for corrugated paper decreased by 0.8 days to 9.6 days, and for boxboard paper, it also decreased by 0.8 days to 14.4 days [35][52] Summary by Sections 1. Product Price Trends - The average price of corrugated paper is 2783.4 CNY/ton, with a week-on-week increase of 1.4% and a year-on-year decrease of 0.3% [4][20] - The average price of boxboard paper is 3565.0 CNY/ton, with a week-on-week increase of 0.6% and a year-on-year decrease of 1.8% [9][39] 2. Production and Capacity Utilization - The production of corrugated paper increased by 2.1% to 481,000 tons, while boxboard paper production increased by 0.4% to 624,000 tons [9][48] - The capacity utilization rate for corrugated paper is 63.9%, up 1.3 percentage points, and for boxboard paper, it is 68.3%, up 0.3 percentage points [28][44] 3. Cost and Profit Analysis - The gross profit for corrugated paper is 365.8 CNY/ton, up 1.4% week-on-week, while for boxboard paper, it is 769.0 CNY/ton, down 1.5% week-on-week [25][42] - The gross profit margin for corrugated paper is 13.1%, unchanged, while for boxboard paper, it is 21.6%, down 0.4 percentage points [9][41] 4. Inventory and Demand Trends - The inventory days for corrugated paper decreased to 9.6 days, and for boxboard paper, it decreased to 14.4 days [35][52] - The demand for corrugated paper is expected to decline due to the upcoming Dragon Boat Festival, with some packaging companies planning to halt operations for 1-2 days [64][65] 5. Market Outlook - The market sentiment shows 64% of participants are neutral, 7% bearish, and 29% bullish regarding future price trends [63][68] - Supply is expected to decrease slightly due to maintenance schedules at some small paper companies during the holiday [64]