据金鹰集团山东公共事务总经理、亚太森博(山东)浆纸有限公司党委书记李润明介绍,亚太森博自主研发 的护眼纸,与普通纸相比显色更好,还能让孩子眼睛不疲劳。莱赛尔纤维是100%纯木源纤维,有很好的亲 肤性、吸汗性、柔韧性和环保性能,可完全生物降解,被称为"21世纪的绿色纤维"。 将"绿色低碳"融入发展血脉,致力打造中国浆纸行业产业升级、技术进步绿色发展的标杆企业。亚太森 博(山东)浆纸有限公司近年来不断深耕"浆纸纤"一体化发展,通过自主创新与产业链的不断延伸完善,产 业的美丽新图景逐渐显现。 据悉,亚太森博年产50万吨的高档文化纸生产线,去年实现了全线达产。在中国市场上,每3张高端复印纸 里就有一张是亚太森博生产的。除了国内市场,这里的产品已经打开了东亚及中东市场。 记者在此看到,100多米的生产线上,54台烘缸组成10组,每台烘缸重达16.8吨,长度超过11米,这是针对亚太 森博鲜浆造纸特点而专门客制化生产的纸机。在这条生产线上,鲜木浆就地"变纸",成为终端产品,这也成 为亚太森博由"浆"向"纸"延链、补链、强链的重要里程碑。 金鹰集团山东公共事务总经理、亚太森博(山东)浆纸有限公司党委书记李润明介绍道:"以前鲜 ...

将"绿色低碳"融入发展血脉，致力打造中国浆纸行业产业升级、技术进步绿色发展的标杆企业。亚太森 博（山东）浆纸有限公司近年来不断深耕"浆纸纤"一体化发展，通过自主创新与产业链的不断延伸完 善，产业的美丽新图景逐渐显现。 金鹰集团山东公共事务总经理、亚太森博（山东）浆纸有限公司党委书记李润明表示："我们还会持续 增资，不断拉长产业链，把浆纸纤的拼图，越做越大，越拼越全，为全市经济社会发展作出亚太森博的 积极贡献。" 金鹰集团山东公共事务总经理、亚太森博（山东）浆纸有限公司党委书记李润明介绍道："以前鲜浆要 拉到外地造纸，就像拼图少了一块，产业链总悬着"断点"。现在，鲜浆在厂区内直接"变身"，省去了烘 干、包装、运输、碎解的冗余环节，不仅降低了15%的能耗，更让产业链中下游的布局"紧凑又含 金"。" 当"浆"的根基、"纸"的支撑、"链"的连接、"绿"的守护，在日照严丝合缝拼接，这不是一幅孤立的企业 图景，而是一座城市与企业携手，用20年时间拼出来的高质量发展答卷。从一片木片开始，拼出的不仅 是亚太森博的"新赛道"，更是日照产业升级的"新未来"。（王新宇 杨阳 辛崇娟） 20年来，亚太森博总投资近300亿，其中环保投 ...

Group 1: Report General Information - Report title: Pulp Daily Report [1] - Date: August 8, 2025 [2] - Research team: Energy and Chemical Research Team [4] Group 2: Market Review and Operation Suggestions Market Review - SP2509 contract: The previous settlement price was 5,162 yuan/ton, and the closing price was 5,186 yuan/ton, a rise of 0.46%. The trading volume was 96,860 lots, and the open interest decreased by 3,106 lots to 79,224 lots [7]. - SP2601 contract: The closing price was 5,448 yuan/ton, up 0.55%. The trading volume was 22,174 lots, and the open interest decreased by 626 lots to 23,839 lots [7]. - SP2605 contract: The closing price was 5,422 yuan/ton, up 0.52%. The trading volume was 1,608 lots, and the open interest increased by 177 lots to 13,516 lots [7]. - Shandong wood pulp market: The intended transaction price range of softwood pulp was 5,150 - 6,700 yuan/ton, with the low - end price stable compared to the previous trading day. The price of Shandong Silver Star was quoted at 5,800 - 5,820 yuan/ton [7]. Core View - Overseas pulp and paper market has weak prosperity, with some enterprises having production transfer, reduction, or suspension. The support for imported pulp prices needs attention. In May, the shipment volume of softwood pulp from 20 major pulp - producing countries was 1.69 million tons, up 4.4% month - on - month and down 8.2% year - on - year. In July 2025, China's total pulp imports were 2.877 million tons, down 5.1% month - on - month and up 23.7% year - on - year [8]. - As of July 31, 2025, the weekly pulp inventory in major regions and ports decreased by 3.08% month - on - month. Only the inventories in Qingdao Port and Baoding increased. The overall shipment speed was stable. Most downstream paper mills' initial quotes were stable, and the boost to the demand side during the off - peak to peak season transition needs attention [8]. - The domestic market fundamentals have slightly improved. If the industry profit is further repaired, pulp still has room to rebound, but the overall space is limited without supply - side support [8]. Group 3: Industry News - On August 5, the PM56 cultural paper production line of Nine Dragons Paper Co., Ltd. was successfully put into operation. The main equipment of the paper machine was provided by Yuli of Taiwan, and the headbox was provided by Valmet of Finland. The paper machine width was 7,250 mm, the design speed was 1,000 m/min, and the annual production capacity of high - grade cultural paper was 250,000 tons. Another cultural paper production line, PM55, is under construction and is expected to be put into operation by the end of this year [9]. - Nine Dragons Paper settled in Tieshan Port, Beihai City in December 2020. The total investment of the project, including upstream and downstream industries, was about 35 billion yuan. It is a 7.95 - million - ton forest - pulp - paper integration and intelligent packaging full - industrial - chain project built in two phases, which started production in 2023 and is expected to be fully completed in 2025 [9]. Group 4: Data Overview - The report includes multiple data charts, such as import softwood pulp spot price in Shandong, pulp futures price, pulp futures - spot price difference, softwood - hardwood price difference, inter - period price difference, warehouse receipt volume, domestic main port pulp inventory, European main port wood pulp inventory, prices and price differences of coated paper, offset paper, white cardboard, and white board paper, and the US dollar - RMB exchange rate [16][29][33]

Report Information - Report Name: Pulp Daily Report [1] - Date: August 7, 2025 [2] - Research Team: Energy and Chemical Research Team [4] Industry Investment Rating - Not provided Core View - Short - term pulp is expected to maintain a weak operation, and attention should be paid to the subsequent boost to the demand side during the transition between the off - season and peak season [7] Summary by Section 1. Market Review and Operation Suggestions - Pulp futures contract 09: The previous settlement price was 5,156 yuan/ton, and the closing price was 5,170 yuan/ton, a 0.27% increase [7] - Shandong wood pulp market: The intended transaction price range of softwood pulp was 5,150 - 6,700 yuan/ton, with the low - end price remaining stable compared to the previous trading day's closing price. The price of Shandong Silver Star was quoted at 5,800 - 5,820 yuan/ton [7] - Chile Arauco's July quote: The Silver Star has been sold out with no new offers, and the net price of Uruguay hardwood pulp New Star is 500 US dollars/ton [7] - World's 20 major pulp - producing countries: In May, the softwood pulp shipment volume was 1.69 million tons, a 4.4% month - on - month increase and an 8.2% year - on - year decrease [7] - Europe's wood pulp inventory and consumption in June: Inventory increased by 2.4% month - on - month and 6.6% year - on - year; consumption decreased by 9.9% month - on - month and 10.6% year - on - year [7] - China's pulp imports in June: The total import volume was 3.03 million tons, a 0.4% month - on - month increase and a 16.1% year - on - year increase [7] - As of July 31, 2025: The weekly pulp inventory in major regions and ports decreased by 3.08% month - on - month. Only the inventory in Qingdao Port and Baoding increased compared to the previous week, and the overall shipment speed was stable [7] 2. Industry News - On August 5, the PM56 cultural paper production line of Nine Dragons Paper Co., Ltd. was successfully put into operation. The main equipment of the paper machine was provided by Taiwan Yuli, and the headbox was provided by Finland Valmet. The paper machine has a width of 7,250 mm and a designed speed of 1,000 m/min, with an annual production capacity of 250,000 tons of high - grade cultural paper [8] - Nine Dragons Paper is also building a cultural paper production line PM55, which is expected to be put into operation by the end of this year [8] - Nine Dragons Paper settled in Tieshan Port, Beihai City in December 21, 2020. The total investment of the project, including the upstream and downstream industries, is about 35 billion yuan. It is being built in two phases to achieve an annual production capacity of 7.95 million tons of forest - pulp - paper integration and intelligent packaging full - industry chain project, which started production in 2023 and is expected to be fully completed in 2025 [8] 3. Data Overview - The report presents multiple data charts, including import bleached softwood pulp spot prices in Shandong, pulp futures prices, pulp spot - futures price differences, softwood - hardwood price differences, inter - period price differences, warehouse receipt totals, domestic main port pulp inventories, European main port wood pulp inventories, prices and price differences of coated paper and offset paper, prices and price differences of white cardboard and whiteboard paper, and the US dollar - RMB exchange rate [15][17][19][28][29][32]

智通财经获悉，玖龙纸业(02689)再涨超6%，截至发稿，涨6.67%，报4.98港元，成交额4585.02万港 元。 本文源自：智通财经网 消息面上，据中纸网报道，近日，玖龙纸业(北海)有限公司PM56生产线成功开机出纸。PM56生产线纸 机主体设备由台湾裕力提供，流浆箱由芬兰维美德公司提供，纸机幅宽7250mm，设计车速 1000m/min，可年产25万吨高档文化纸。此外，玖龙纸业(北海)目前还在建一条文化纸生产线PM55，预 计今年年底投产。 值得关注的是，8月1日，玖龙纸业在多个基地上调瓦楞纸、再生牛卡纸30元/吨，此前7月已发布多轮涨 价函。浙商证券认为，造纸行业作为产能供需失衡、盈利底部区间的周期行业，有望受益于"反内卷"。 国泰君安指出，新版国标加强了能耗限制，尤其对现有产能能耗限制有明显提升，头部纸企新旧产能较 中小纸企存量产能均有明显优势，或催化行业进入新一轮供给端出清周期。 ...

Group 1 - Nine Dragons Paper (02689) shares increased by over 6%, reaching HKD 4.98 with a trading volume of HKD 45.85 million [1] - Nine Dragons Paper (Beihai) successfully launched the PM56 production line, which has a design speed of 1000m/min and an annual production capacity of 250,000 tons of high-grade cultural paper [1] - The company is also constructing another cultural paper production line, PM55, expected to commence production by the end of this year [1] Group 2 - On August 1, Nine Dragons Paper raised the price of corrugated paper and recycled kraft paper by HKD 30 per ton, following multiple price increases in July [1] - According to Zheshang Securities, the paper industry is expected to benefit from supply-demand imbalances and the "anti-involution" trend [1] - Guotai Junan noted that the new national standards have strengthened energy consumption restrictions, favoring leading paper companies over smaller competitors, potentially initiating a new supply-side clearing cycle in the industry [1]

Group 1 - Nine Dragons Paper Industries (02689) saw a stock increase of over 6%, reaching HKD 4.98 with a trading volume of HKD 45.85 million [1] - The PM56 production line of Nine Dragons Paper (Beihai) has successfully commenced operations, with a design capacity of 250,000 tons of high-grade cultural paper annually [1] - The company is also constructing another cultural paper production line, PM55, which is expected to be operational by the end of this year [1] Group 2 - On August 1, Nine Dragons Paper raised the prices of corrugated paper and recycled kraft paper by HKD 30 per ton, following multiple price increases in July [1] - According to Zheshang Securities, the paper industry is expected to benefit from the "anti-involution" trend due to supply-demand imbalances and profitability at the bottom of the cycle [1] - Guotai Junan pointed out that the new national standards have strengthened energy consumption restrictions, favoring leading paper companies with new and old capacity advantages over smaller firms, potentially catalyzing a new supply-side clearing cycle in the industry [1]

Core Viewpoint - The article discusses the recent price adjustments made by Nine Dragons Paper, led by Zhang Yin, in response to rising operational costs and the challenges faced in the paper industry, which is characterized by cyclical fluctuations and pressure on profit margins [2][3][8]. Price Adjustments - On July 15, Nine Dragons Paper implemented a price increase of 30 yuan per ton for corrugated paper at its Dongguan and Quanzhou bases [2]. - This marks the third price adjustment in the past half month, indicating a strategy of gradual price increases amid fluctuating market conditions [3][5]. Industry Context - The paper industry is highly cyclical, with prices closely tied to macroeconomic changes. Key raw materials like wood pulp and waste paper are subject to price volatility and supply instability [8][9]. - Since 2021, paper mills have been releasing capacity while downstream demand has not kept pace, leading to a challenging environment where price adjustments are necessary to maintain market share [11]. Financial Performance - Nine Dragons Paper's market capitalization has dropped over 70% from its peak, currently hovering around 16 billion HKD [4]. - In the 2024 fiscal year, the company reported a revenue of 33.46 billion RMB, with a gross profit of 3.19 billion RMB, reflecting an 18% increase in gross profit year-on-year [33]. Strategic Initiatives - Zhang Yin is focusing on expanding production capacity and moving towards high-end products to avoid price wars in the low-end market [30]. - The company is also investing in upstream integration to enhance raw material supply capabilities, which constitute about 60% of total production costs [35]. Future Outlook - Analysts predict a potential market recovery around September, with seasonal demand expected to increase during the National Day and Mid-Autumn Festival periods [19][20]. - Nine Dragons is expanding its production capacity significantly, with new projects expected to come online in the second quarter of this year, aiming for a total design capacity of 819 million tons of fiber raw materials and 2,537 million tons of paper production [38][39].

Group 1 - The "Lucky 6666" vessel, carrying 38,000 cubic meters of wood chips, is unloading at Zhangzhou Port, which is the largest timber distribution center in Southeast China [3] - In the first half of this year, Zhangzhou Port has imported 1.6185 million cubic meters of wood chips, representing a year-on-year increase of 177.34% [3] - The Zhangzhou border inspection station has implemented measures to streamline customs procedures, reducing average processing time by 40% and saving over 33 million yuan in customs costs for enterprises in 2024 [3][4] Group 2 - The wood chip import business has significantly boosted the local timber industry, which is becoming an important source of income for Zhangzhou [4] - The logistics system at Zhangzhou Port allows for efficient transportation of raw wood to local processing facilities, where it is transformed into various paper products [4]

Core Viewpoint - The company is actively enhancing its operational efficiency and competitiveness through digital transformation and strategic projects in response to challenges in the paper and chemical industries. Group 1: Digital Transformation and Operational Efficiency - The company launched the "Industry Brain" project in April 2023, which is expected to improve production capacity by 8.57%, product quality by 7.6%, production efficiency by 5.8%, and transportation efficiency by 15% during its trial run in 2024 [2] - The "Industry Brain" integrates five major models covering the entire process from raw material procurement to production, sales, logistics, and finance, aiming to create a smart business model in the paper industry [2][3] - The project aims to reduce reliance on manual experience and enable rapid adjustments in production parameters, facilitating flexible production [2] Group 2: Strategic Projects and Market Positioning - The company has completed the construction of a 700,000-ton chemical wood pulp project, which is expected to enhance product scale, cost, and quality advantages, while ensuring raw material supply [3] - The company is focusing on integrating pulp and paper production to mitigate the impact of raw material price fluctuations and align with carbon neutrality trends [4] - The company is transitioning towards high-end cultural paper and specialty paper, with successful product development in various new categories following the relocation and renovation of its subsidiary [5] Group 3: Future Plans and Industry Position - The company plans to accelerate the transformation of research achievements and promote the advancement of Industry 4.0 in the paper sector by 2025 [3] - The company aims to extend its salt chemical and fine chemical industry chains, enhancing upstream resource development and downstream new product production to improve profitability in the chemical sector [5]