Guangzhou Daily News (Photographed by All Media Reporter Tu Duanyu) On January 26, Vinda International released its 2021 fiscal year annual report, stating that the company will achieve an operating income of HK$18.676 billion in 2021, a year-on-year increase of 13.11%, and a net profit attributable to the parent company of 1.638 billion. Hong Kong dollar, down 12.59% year-on-year.
On the 27th, the share price of Vinda International closed at HK$20.800, down 0.95%.
Nomura issued a research report saying that it maintained the “underweight” rating of Vinda International, and the target price rose from HK$19.5 to HK$19.7, but it is expected that the profit growth in fiscal year 2022 will remain at a low level of 3.2%, and the gross profit margin forecast will be reduced by 0.6 percentage points to 35.6%.
Citi raised Vinda's net profit forecast for 2022 and 2023 by 3% to 4%.
It is reported that there is an overcapacity situation in the household paper industry as a whole.
Industry data show that as of the end of November last year, the inventory of enterprises in the industry increased by 11.05% year-on-year, and the pressure of paper products enterprises to destock is still there.
In addition, with rising commodity, logistics and energy costs and a volatile retail environment, the tissue paper market fluctuates more frequently.
Some people in the industry believe that the price of household paper will maintain a relatively wide fluctuation in 2021, and the main influencing factors are the interaction of multiple factors such as the instability of public health events, the trend of upstream pulp prices, the adjustment of production load of paper companies, and the transition of off-peak seasons. .