JINGXING PAPER(002067)2022-12-03 09:48Group 1: Investor Relations Activity - The investor relations activity was conducted on May 8, 2018, in Shanghai, with participation from various financial institutions [1] - The meeting was led by the company's board secretary and securities representative [1] Group 2: Impact of Import Regulations - The company is currently affected by the suspension of the PSI system from May 4 to June 4, 2018, which impacts the import of waste paper [1] - Despite the suspension, previously issued inspection certificates for American waste paper can still be processed for customs clearance [1] Group 3: Waste Paper Procurement and Pricing - The company has received a total import quota of 195,000 tons of waste paper for the year, with ongoing applications for additional quotas [2] - The price of domestic waste paper has been rising rapidly, and the company is adjusting its procurement strategy to include more Japanese OCC due to quality considerations [2] - Currently, over 50% of the company's waste paper procurement comes from its subsidiary in Japan [2] Group 4: Industry Outlook - The outlook for the paper industry is optimistic, with increasing entry barriers and a tightening of import quotas favoring larger enterprises [3] - The demand for waste paper is expected to grow annually, while the elimination of outdated production capacity is also anticipated [3] - Environmental policies are expected to slow the release of new production capacity, extending the industry's favorable cycle [3] Group 5: Cost Implications of Energy Regulations - The company is monitoring the impact of new regulations on self-owned power plants, which may affect operational costs if enforced [3] - Currently, the company does not own its power generation facilities and relies on external purchases for steam and electricity [3]