Packaging zone On January 6, Chenming Paper announced that its holding subsidiary Haicheng Haiming Mining Co., Ltd. was awarded the Mining License of the People's Republic of China by the Natural Resources Department of Liaoning Province. Chenming Paper said in the announcement that Haiming Mining's acquisition of mining license is conducive to broaden the industrial chain, enhance the comprehensive competitiveness of the company's product market, increase the company's efficiency, and enhance the company's overall profitability and risk resistance. As the leader of China's paper industry, why does Chenming Paper enter the mining industry “not doing businessâ€? Since 2013, under the influence of slowing macroeconomic growth, the demand of the paper industry has continued to be weak, and the overcapacity problem in the paper and paper products industry is relatively serious. . At the same time, paper prices have risen frequently, and corporate sales competition is fierce, and Chenming Paper's profitability has declined. In the early years, the paper industry was in a downturn, and Chenming Paper had pioneered the leasing business. Chenming Paper is an established papermaking company, which is involved in pulp, paper, finance, fiber yarn, forestry, mining, logistics, etc. It is the only listed company in the country that issues A shares, B shares, H shares and preferred stocks. In recent years, the company has suddenly entered a period of rapid development, and its profitability has soared. In particular, the net profit of Chenming Paper in 2016 was “a sudden riseâ€, with a year-on-year growth rate approaching 100%. Beginning in 2017, affected by the changes in the capital environment, the financial leasing business encountered a “bottleneck†and the profit declined. In 2018, the situation deteriorated. Chenming Paper's net profit growth in the first quarter of 2018 was only 10%, which was significantly slower than the growth rate of 78.99% in the same period last year. In the first three quarters of 2018, Chenming Paper achieved operating income of 23.439 billion yuan, a year-on-year increase of 7.13%. The net profit attributable to shareholders of listed companies was 2.481 billion yuan, down 8.5% year-on-year. Source: China Business Research Institute Database This article is posted on the website for the purpose of transmitting more information and does not imply endorsement of its views or confirmation of its description. Article source address: http:// Custom Backpack,Casual Backpack,Computer Backpack,Large Tote Bags Dongguan Mingpin Traveling Appliance Company , https://www.mpluggage.com