人民财讯1月27日电，岳阳林纸（600963）1月27日公告，预计2025年度公司净利润亏损2亿元到2.6亿 元，上年同期净利润1.67亿元，同比由盈转亏。报告期内，国内文化纸产能集中投放，市场竞争加剧， 导致销售价格下降，纸产品毛利率下降。子公司诚通凯胜生态建设有限公司所在园林生态行业市场低 迷，存量项目清算期收入及归母净利润较上年同期下降。 【资料图】 ...

格隆汇1月27日丨岳阳林纸(600963.SH)公布，公司经财务部门初步测算，预计2025年年度实现归属于母 公司所有者的净利润-2.60亿元到-2.00亿元，与上年同期(法定披露数据)相比，将出现亏损；预计2025年 年度实现归属于母公司所有者的扣除非经常性损益后的净利润-2.90亿元到-2.30亿元。 (一)近年来国内文化纸产能投放较为集中，2025年产能亦保持增势，主要为规模纸企产能扩张，市场竞 争进一步加剧。报告期内，受纸产品市场竞争激烈的影响，销售价格较上年同期下降，纸产品毛利率下 降。(二)报告期内，子公司诚通凯胜生态建设有限公司所属的园林生态行业市场依然低迷，该公司存量 项目合同资产逐步进入清算期，收入及归母净利润较上年同期下降。公司基于上述情况，对诚通凯胜商 誉计提减值准备。 本期业绩预亏的主要原因： ...

Core Viewpoint - ST晨鸣 has decided to divest its financing leasing business for 3.336 billion yuan, refocusing on its core paper manufacturing operations [2][3]. Group 1: Transaction Overview - On December 12, ST晨鸣 announced the sale of its entire financing leasing business to Shouguang Shengjia Investment Co., Ltd. for 3.336 billion yuan, which includes both equity and related debts [2]. - The transaction will be executed in three phases, with the first payment of 50% (1.668 billion yuan) due initially, and the remaining amount to be paid over two years [5]. Group 2: Background of Divestment - The financing leasing business has incurred significant losses, totaling over 4.5 billion yuan from 2023 to 2024, with asset impairment losses reaching 2.8 billion yuan, leading to two consecutive years of negative net profit for the company [3]. - The paper manufacturing segment is also under pressure due to fluctuating raw material prices and weak market demand, resulting in a gross margin decline to 18% [4]. Group 3: Use of Proceeds - The funds from the divestment will primarily be used to repay over 30 billion yuan in interest-bearing debt, alleviating financial pressure [6]. - Additional funds will support working capital needs and be invested in the integrated pulp and paper project to enhance control over the paper production chain [6]. Group 4: Industry Impact and Market Reaction - By shedding the non-core financing leasing business, ST晨鸣 aims to concentrate resources on expanding high-end paper production capacity in Guangdong and Hubei, targeting a 15% market share in cultural and packaging paper by 2026 [7][8]. - The local government’s support in the acquisition reflects a commitment to stabilizing leading enterprises, reducing the risk of delisting for ST晨鸣 [9]. - Following the announcement, ST晨鸣's stock price rose by 5.46%, closing at 3.85 yuan per share, indicating positive market sentiment towards the strategic shift [10]. Group 5: Trends in the Paper Industry - The paper industry is currently facing overcapacity and demand differentiation, prompting accelerated consolidation among leading companies [11]. - ST晨鸣 plans to enhance cost control by leveraging scale advantages in raw material procurement, potentially improving profitability [12]. - The company is also responding to increasing market demand for eco-friendly products by raising the proportion of recycled pulp usage from 20% to 35% [13].