Jingxing Paper expects full-year net profit for 2018 to fall 40% to 48% year-on-year

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On January 30, Jingxing Paper released a performance forecast. The company expects net profit attributable to shareholders of listed companies from January to December 2030 to 380 million to 380 million, a year-on-year change of -48.28% to -40.45%, and the average net profit growth of the paper industry. The rate is 14.13%.

The company makes the above predictions for the following reasons:

1. The long-term equity investment accounted for by the company's equity method (that is, the equity of Zhejiang Shapu Aisi Pharmaceutical Co., Ltd. held by the company) is expected to make a large amount of goodwill impairment provision at the end of the period and is expected to have a performance loss. Quarterly results have a big impact.

2. According to the "Notice of the Customs Tariff Commission of the State Council on Adding Tariffs to Imports of US$50 Billion of Imported Goods" (Announcement of the Taxation Committee [2018] No. 5), since August 23, 2018, Some of the US imports are subject to a 25% tariff, and the cost of the company’s imports of US waste increases. The impact of this part of the cost increase is mainly reflected in the fourth quarter, and the company’s product prices have fallen in the fourth quarter, so the products are The sales volume of the company in the fourth quarter was lower than expected due to the increase in sales volume compared with the same period last year.

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