谈石工业报告: 包装行业分析报告 (2023年11月) Stone Tan Report: Packaging Industry

12月国内瓦楞纸均价2925元/吨，同比跌幅16.5%

谈石持续关注国内包装行业发展趋势，本期工业报告主要分析纸包装行业原材料价格、供需预测、双十一行情回顾及行业相关信息。

2023年前三季度，造纸和纸制品业营业收入为10067.6亿元，同比下降3.6%；利润总额为220.7亿元，同比下降25.3%。
玖龙2023财年全年收入为567.4亿元，同比减少12.1%；毛利润为15.3亿元，同比减少78.1%。玖龙2023财年录得首次亏损，净亏损为23.8亿元。

成本分析显示，黄板纸价格为2070元/吨，同比下跌19.32%。主要成本包括原料废纸（62%）、化学品（11%）、煤炭发电（10%）、运输（8%）、折旧（6%）及人工成本（3%）。

“双十一”期间，箱板瓦楞纸下游需求以食品、饮料、家电等为主，需求旺盛程度与节假日及购物节密切相关。今年双11主要平台表现不佳，销售额同比下降1.12%，为双11创办以来首次负增长。 行业新闻及环评报告信息方面，谈石关注包装和印刷行业的全国和地区新闻，重点关注山鹰、重庆凯成、郑州华英包装等公司的动态以及环境影响声明公告。

China Corrugated Paper Price: 2,925 Yuan/Ton, YoY Decrease of 16.5%

Stone Tan remains dedicated to monitoring the trends within the domestic packaging industry, focusing on raw material price trends, supply and demand forecasts, a review of the Singles' Day market, and industry-related updates.

In the first three quarters of 2023, the paper and paper products industry reported a revenue of 100.676 billion yuan, a 3.6% decrease YoY; total profit was 22.07 billion yuan, down by 25.3% YoY.

Nine Dragons Paper reported an annual revenue of 56.74 billion yuan for the fiscal year 2023, a 12.1% decrease YoY; gross profit was 1.53 billion yuan, down by 78.1% YoY. The company recorded its first loss since listing, with a net loss of 2.38 billion yuan.
Cost analysis indicates a decrease in the price of yellow board paper to 2,070 yuan/ton, down by 19.32% YoY. Major costs include waste paper (62%), chemicals (11%), coal-fired power (10%), transportation (8%), depreciation (6%), and labor (3%).

The "Double Eleven" review shows that downstream demand for corrugated and cardboard boxes primarily includes food, beverages, and appliances, closely related to holidays and shopping festivals. This year's Double Eleven saw a decrease in sales by 1.12% YoY, marking the first negative growth since its inception.

Regarding industry news and environmental report information, Stone Tan pays close attention to national and regional news within the packaging and printing industries, highlighting updates from Yanshi, Chongqing Kaicheng, Zhengzhou Huaying Packaging, and announcements related to environmental impact statements.