SUN PAPER(SZ:002078)2025-05-15 09:36Project Updates - The company is investing in a new special paper base material project with an annual production capacity of 37,000 tons, which entered trial production in April 2025 [1] - The second phase of the 140,000 tons special paper project at the Yandian plant is expected to enter trial production in the first half of 2026 [1] - The company will complete the relocation and upgrade of the dissolving pulp production line and related facilities at the Yanzhou base by May 2025 [2] - The first phase of the "Forest-Pulp-Paper Integration Project" in Nanning, Guangxi, along with several other production lines, is set to enter trial production in the fourth quarter of 2025 [2] Digital Transformation - The company has implemented a digital empowerment strategy to integrate digital economy with the paper industry, establishing a comprehensive digital platform across the supply chain [2] - Significant progress has been made in digital upgrades, with projects launched in 8 parks, 9 systems, and 3 countries [2] Financial Performance - In Q1 2025, the company maintained stable production operations despite raw material price fluctuations, optimizing production processes to ensure stability [3] - Cost control measures led to a decrease in sales, management, R&D, and financial expense ratios compared to the same period last year [3] - Although revenue and net profit saw a year-on-year decline, the company demonstrated strong resilience and is expected to benefit from new projects and market recovery [4] ESG Governance - The company has established a four-tier ESG governance structure, including a decision-making board, supervisory board, management layer, and execution layer [4] - The ESG committee is responsible for sustainable development research and strategy formulation, while independent directors oversee ESG governance [4] Employee Development - The "Learning and Improvement Year" initiative launched in March 2024 has seen participation from 241,700 employees, enhancing overall employee quality and core competitiveness [5][6] - The initiative focuses on comprehensive training, skill competitions, and benchmarking to foster a culture of continuous learning [6] Strategic Development in Guangxi - The Guangxi base is positioned as a core strategic layout for sustainable development, with projects in Beihai and Nanning expected to enhance resource integration and product value [6][7] - The dual-park model in Guangxi aims to drive high-quality and sustainable development through coordinated growth and improved logistics and sales channels [7] Investor Relations - The company participated in the online investor reception day, ensuring compliance with information disclosure regulations and maintaining transparency with investors [8]