Chenming paper in the medium term net gain 285.98%

Chenming paper (000488.　　SZ,01812.HK today reported that, due to pulp, paper prices into the rising channel, product prices, gross profit margin, the first half of the company to achieve net profit of 608 million yuan, a large increase of 285.98%, the basic earnings per share of 0.29 yuan, increased by 281.58%.　　The report showed that the first half of the company to achieve business income of 8.177 billion yuan, an increase of 22.49%, operating profit of 777 million yuan, an increase of 343.75%. During the reporting period, mechanism realized revenue of 7.753 billion yuan, accounting for the proportion of the company's revenue up to 94.81%.　　The first half of the mechanism output of 1.6838 million tons, sales 1.55 million tons, year-on-year growth of 16% and 2.02% respectively.　　The first half, the company's product gross profit margin of 21.77%, an increase of 6.1%, the main business mechanism gross profit margin of 21.64%, the year-on-year growth of 6.59%.　　The company said the first half did not carry out profit distribution and capital transfer.　　Looking to the future, the first three quarters of the company's products average price higher than the same period last year, the company's paper product gross profit margin to improve the company's performance, is expected 2010 1 ~ September Net profit compared to the same period last year to increase 50%~100%. The company also believes that raw materials and product prices in the short term rose too fast, the industry needs gradually cooling, downstream market procurement will tend to be cautious, with the price of raw materials down, the price of paper products are correspondingly reduced.　　The second half of the company also faces new projects in the industry after the production of additional capacity issues. Yesterday close, Chenming paper A shares reported 7.51 Yuan, Rose 0.40%;h shares reported 6.27 Hong Kong dollar, down 2.03%.