Chenming paper up to 2% to win the proposed 9.8 billion yuan overweight high-end paper products

Chen Ming paper, which announced earlier plans to buy up one H shares and write off the shares, has fallen back this morning, but shares are still up 1.63% to HK $5.61 to clinch 2.06 million shares. Chen Ming paper A Shares (000488-CN) is now down 1.94% to 7.6 yuan. The Board of directors decided that to further improve the proportion and type of high-grade paper products, it is planned to invest $9.8 billion to build two new high-grade paper and a supporting railway dedicated line project, which is expected to be completed in 2011 2-May respectively.　　According to the current market situation, the above three projects built up to the cumulative annual sales income of about 8.2 billion yuan, excluding ancillary railway dedicated lines of the year can achieve profit of about 1.28 billion yuan. Data show that the annual output of 800,000 tons of high-grade low quantitative coated paper project total investment of about 5.2 billion yuan, construction period of 18 months. Annual output of 600,000 tons of high-grade coated white cow paperboard Project total investment of 2.6 billion yuan, construction period of 18 months. New Chenming International Logistics center and Ancillary railway dedicated line project total investment of 2 billion yuan, of which the construction of Chenming International Logistics Center Project Investment of 750 million yuan, supporting railway dedicated line investment 1.25 billion yuan.