Ukuqhathaniswa kwemibiko yezezimali yezinkampani ezinkulu ezintathu zamaphepha asekhaya: Ingabe iphuzu lokukhula kokusebenza ngo-2023 liyeza?
Umhlahlandlela: Njengamanje, intengo ye-pulp yokhuni isingene emjikelezweni wehla, futhi ukwehla kwenzuzo kanye nokwehla kokusebenza okubangelwe yizindleko eziphakeme zangaphambilini kulindeleke ukuthi kuthuthukiswe.
I-Zhongshun Jierou izofinyelela imali engenayo yokusebenza engu-8.57 billion yuan ngo-2022, ukwehla konyaka nonyaka okungu-6.34%; inzuzo ehlanganisiwe ebangelwa abanikazi bamasheya ezinkampanini ezisohlwini ingama-yuan ayizigidi ezingu-350, ukwehla konyaka nonyaka okungu-39.77%.
I-Vinda International izobona imali engenayo yokusebenza eyi-HK$19.418 billion ngo-2022, okuwukwenyuka konyaka nonyaka okungu-3.97%; inzuzo ephelele ebangelwa yinkampani engumzali eyi-HK$706 million, ukwehla konyaka nonyaka okungu-56.91%.
Ngokuphathelene nezizathu zokwehla kokusebenza, i-Vinda International ithe ngaphezu komthelela wobhubhane ngo-2022, ukwenyuka okuqhubekayo kwezindleko zezinto zokusetshenziswa kuzoba nomthelela omubi ekusebenzeni kwenkampani.
I-Hengan International izothola imali engenayo engama-yuan ayizigidigidi ezingama-22.616 ngo-2022, okuwukwenyuka konyaka nonyaka okungu-8.8%; inzuzo ebangelwa abanikazi bamasheya benkampani izoba yi-yuan eyizigidigidi eziyi-1.925, ukwehla konyaka nonyaka okungu-41.2%.
ibhokisi lamakhukhi
Ngokombono wesilinganiso semali engenayo, ibhizinisi lethawula lephepha belilokhu liyibhizinisi eliyinhloko leHengan International. Ngo-2022, leli bhizinisi leHengan International lizosebenza kahle ngempela. Ngo-2022, imali engenayo yokuthengisa yebhizinisi lethawula lephepha leHengan International izokhuphuka cishe ngo-24.4% iye ku-12.248 billion yuan, okulinganiselwa cishe ku-54.16% yemali engenayo iyonke yeqembu; bekuyi-9.842 billion yuan esikhathini esifanayo ngonyaka odlule, okulinganiselwa ku-47.34%.
Uma sibheka imibiko yaminyaka yonke ka-2022 eyadalulwa yizinkampani ezintathu zephepha, ukwehla kokusebenza kungenxa yokwenyuka okukhulu kwezindleko zezinto zokusetshenziswa.
Idatha yokuqapha ye-SunSirs ikhombisa ukuthi kusukela ngo-2022, amanani aqondile e-softwood pulp kanye ne-hardwood pulp, izinto zokusetshenziswa ze-wood pulp, aye akhuphuka phezulu. Intengo ejwayelekile yemakethe ye-softwood pulp eShandong yake yakhuphuka yaya ku-7750 yuan/ton, kanti i-hardwood pulp yake yakhuphuka yaya ku-6700 yuan/ton Ton.
Ngaphansi kwengcindezi yokwenyuka okukhulu kwamanani ezinto zokusetshenziswa, ukusebenza kwezinkampani ezinkulu zephepha nakho kwehlile, futhi imboni isabhekene nezinselele ezinkulu.
01. Ukwenyuka kwentengo kunzima ukukulungisa ukwenyuka kwezinto zokusetshenziswa
Izinto zokusetshenziswa ezisetshenziswa enqubweni yokukhiqiza iphepha lezicubu zifaka phakathi i-pulp, izithasiselo zamakhemikhali kanye nezinto zokupakisha. Phakathi kwazo, i-pulp ibiza u-50%-70% wezindleko zokukhiqiza, kanti imboni yokukhiqiza i-pulp iyimboni eyinhloko nebaluleke kakhulu embonini yephepha lasekhaya. Njengezinto zokusetshenziswa eziningi zomhlaba wonke, intengo ye-pulp ithintwa kakhulu umjikelezo wezomnotho womhlaba, kanti ukuguquguquka kwentengo ye-pulp kuthinta izinga lenzuzo enkulu yemikhiqizo yephepha lasekhaya.
Kusukela ngoNovemba 2020, amanani e-pulp aqhubekile nokukhuphuka. Ekupheleni kuka-2021, intengo ye-pulp ikhuphukele ku-5,500-6,000 yuan/ton, futhi ekupheleni kuka-2022, yayisikhuphukele ku-7,400-7,800 yuan/ton.
Ukuze kuhlangatshezwane nokwenyuka kwentengo yezindleko zezinto zokusetshenziswa, kusukela ngoDisemba 2020, izinkampani zephepha zasekhaya ezweni lonke zaqala ukuphakamisa amanani ngokulandelana. Kusukela ngoDisemba 31, 2020, engxenyeni yesibili ka-2020, ukwenyuka okuhlanganisiwe kwephepha eliqediwe kufinyelele ku-800-1,000 yuan/ton, kanti intengo yangaphambili yefektri ikhuphuke kusukela endaweni ephansi kakhulu engu-5,500-5,700 yuan/ton yaya cishe ku-7,000 yuan/ton. , intengo yangaphambili yefektri i-Xinxiangyin ifinyelele ku-12,500 yuan/ton.
Ekuqaleni kuka-Ephreli 2021, izinkampani ezifana neZhongshun Cleanroom kanye neVinda International zaqhubeka nokuphakamisa amanani.
ushokoledi webhokisi
UZhongshun Jierou washo encwadini yokwenyuka kwentengo ngaleso sikhathi ukuthi amanani ezinto ezingavuthiwe aqhubeka nokukhuphuka, kanti izindleko zokukhiqiza zenkampani kanye nezindleko zokusebenza ziyaqhubeka nokukhuphuka. I-Vinda International (Beijing) iphinde yathi ngenxa yokwenyuka okuqhubekayo kwamanani ezinto ezingavuthiwe, izindleko zokukhiqiza zikhuphuke kakhulu, futhi ihlela ukulungisa amanani emikhiqizo ethile yomkhiqizo we-Vinda kusukela mhla lu-1 kuMbasa.
Ngemva kwalokho, kwikota yokuqala ka-2022, iZhongshun Jierou yaqala ukuphakamisa amanani futhi, futhi yathuthuka ngezigaba. Kusukela kwikota yesithathu ka-2022, iZhongshun Jierou yaphakamisa amanani emikhiqizo yayo eminingi.
Kodwa-ke, ukwenyuka kwentengo okuqhubekayo kwezinkampani zephepha akuzange kuholele ekwenyukeni okukhulu ekusebenzeni kwenkampani. Ngokuphambene nalokho, ukusebenza kwenkampani kwehle ngenxa yokwenyuka kwezindleko.
ikhukhi lebhokisi lekhekhe
Kusukela ngo-2020 kuya ku-2022, imali engenayo yeZhongshun Jierou izoba yi-yuan eyizigidigidi ezingu-7.824, i-yuan eyizigidigidi ezingu-9.15, kanye ne-yuan eyizigidigidi ezingu-8.57, ngokulandelana, kanye nenzuzo eseleyo ye-yuan eyizigidi ezingu-906, i-yuan eyizigidi ezingu-581, kanye ne-yuan eyizigidi ezingu-349, kanye nenzuzo ephelele ye-yuan engu-41.32% kanye ne-yuan eyizigidigidi ezingu-3.592 ngokulandelana. %, 31.96%, kanye nenzalo ehlanzekile yayingu-11.58%, 6.35%, kanye no-4.07%, ngokulandelana.
Imali engenayo ye-Vinda International kusukela ngo-2020 kuya ku-2022 izoba yi-yuan eyizigidigidi eziyi-13.897, i-yuan eyizigidigidi eziyi-15.269, kanye ne-yuan eyizigidigidi eziyi-17.345, kanye nenzuzo eseleyo ye-yuan eyizigidigidi eziyi-1.578, i-yuan eyizigidigidi eziyi-1.34, kanye ne-yuan eyizigidi ezingama-631. 28.24%, kanti amazinga enzalo ehlanzekile ayengu-11.35%, 8.77%, kanye no-3.64%, ngokulandelana.
Kusukela ngo-2020 kuya ku-2022, imali engenayo ye-Hengan International izoba yi-yuan eyizigidigidi ezingama-22.374, i-yuan eyizigidigidi ezingama-20.79, kanye ne-yuan eyizigidigidi ezingama-22.616 ngokulandelana, kanti ibhizinisi lezicubu lizobalelwa ku-46.41%, 47.34%, kanye no-54.16% ngokulandelana; inzuzo ephelele izoba yi-yuan eyizigidigidi ezingama-4.608 kanye ne-yuan eyizigidigidi ezingama-3.29 ngokulandelana, i-yuan eyizigidigidi eziyi-1.949; inzuzo iyonke yayingu-42.26%, 37.38%, kanye no-34% ngokulandelana, kanti inzuzo ephelele yayingu-20.6%, 15.83%, kanye no-8.62%.
Eminyakeni emithathu edlule, yize izinkampani ezintathu ezinkulu zephepha lasekhaya ziqhubekile nokuphakamisa amanani, kusenzima ukulungisa izindleko ezikhuphukayo, futhi ukusebenza kwenkampani kanye nenzuzo yayo kuqhubekile nokwehla.
ibhokisi elimnandi lanyanga zonke
02. Iphuzu lokusebenza lokushintshashintsha lingase lifike maduze
Ngo-Ephreli 19, iZhongshun Jierou ikhiphe umbiko wayo wokuqala wekota ka-2023. Lesi simemezelo sibonisa ukuthi kwikota yokuqala ka-2023, imali engenayo yokusebenza yenkampani yayingu-2.061 billion yuan, okuwukwenyuka konyaka nonyaka okungu-9.35%; inzuzo ehlanganisiwe ebangelwa abanikazi bamasheya ezinkampanini ezisohlwini yayingu-89.44 million yuan, ukwehla konyaka nonyaka okungu-32.93%.
Ngokombono wekota yokuqala ka-2023, ukusebenza kwenkampani akuhlehli.
Kodwa-ke, uma sibheka ukuthambekela kwentengo ye-pulp, kunezimpawu zokuba nethemba. Ngokusho kwedatha eqhubekayo yamandla amakhulu e-pulp, amandla amakhulu e-pulp aqhubeka nokukhuphuka kusuka ku-4252 yuan/ton ngoFebhuwari 3, 2020 kuya phezulu njengo-7652 yuan/ton ngoMashi 1, 2022. Ngemva kwalokho, yashintsha kancane, kodwa yahlala cishe ku-6700 yuan/ton. NgoDisemba 12, 2022, amandla amakhulu e-pulp aqhubeka nokukhuphuka afinyelela phezulu ku-7452 yuan/ton, wabe eseqhubeka nokwehla. Kusukela ngomhlaka-23 Ephreli 2023, amandla amakhulu e-pulp aqhubeka nokuba yi-5208 yuan/ton, okwehle ngo-30.11% kusukela endaweni ephezulu yangaphambilini.
Uma intengo ye-pulp igcinwa kuleli zinga ngo-2023, izocishe ifane neyengxenye yokuqala ka-2019.
Engxenyeni yokuqala ka-2019, izinga lenzuzo eliphelele leZhongshun Jierou lalingu-36.69%, kanti izinga lenzuzo eliphelele lalingu-8.66%; izinga lenzuzo eliphelele leVinda International lalingu-27.38%, kanti izinga lenzuzo eliphelele lalingu-4.35%; izinga lenzuzo eliphelele leHengan International lalingu-37.04%, kanti izinga lenzuzo eliphelele lalingu-17.67%. Kusukela kulo mbono, uma intengo ye-pulp igcinwa cishe ku-5,208 yuan/ton ngo-2023, izinga lenzalo eliphelele lezinkampani ezintathu ezinkulu zephepha lasekhaya kulindeleke ukuthi likhuphuke kakhulu, futhi ukusebenza kwazo kuzophinde kuholele ekushintsheni.
I-CITIC Securities ibikezela ukuthi emjikelezweni wokwehla kwamanani e-pulp kusukela ngo-2019 kuya ku-2020, izingcaphuno zangaphandle ze-softwood pulp/hardwood pulp zizoba ngaphansi njenge-US$570/450/ton. Kusukela ngo-2019 kuya ku-2020 kanye nengxenye yokuqala ka-2021, i-Vinda International'Inzuzo eningi izoba ngu-7.1%, 11.4%, 10.6%, izinga lenzalo eliphelele le-Zhongshun Jierou lingu-9.1%, 11.6%, 9.6% ngokulandelana, kanti izinga lenzuzo yokusebenza lebhizinisi lezicubu le-Hengan International lingu-7.3%, 10.0%, 8.9%.
Kwikota yesine ka-2022, inzuzo eningi yeVinda International kanye neZhongshun Jierou izoba ngu-0.4% kanye no-3.1% ngokulandelana. Engxenyeni yokuqala ka-2022, inzuzo yokusebenza yebhizinisi lethawula lephepha leHengan International izoba ngu-2.6%. Amabhizinisi azogxila ekubuyiseleni inzuzo, imizamo yokukhuthaza ukuthengisa kulindeleke ukuthi ilawulwe ngaphakathi kobubanzi obuthile, futhi amanani okugcina azinzile..ibhokisi elimnandi lanyanga zonke
Uma kucatshangelwa indawo yokuncintisana (amandla amasha okukhiqiza iphepha lezicubu ngo-2020/2021 angamathani ayizigidi ezingu-1.89/2.33) kanye nesu lentengo elihamba phambili, i-CITIC Securities ibikezela ukuthi izinga lenzuzo eliphelele lephepha lezicubu elihamba phambili kulo mjikelezo wokwehla kwentengo ye-pulp kulindeleke ukuthi libuyele ku-8%-10%%.
Njengamanje, amanani e-pulp angene emjikelezweni wehla. Ngaphansi kwalesi sizinda, izinkampani zamaphepha zasekhaya kulindeleke ukuthi zilethe ushintsho ekusebenzeni.
Isikhathi sokuthunyelwe: Meyi-15-2023
