The hottest forest packaging raised 900million to

The gross profit margin of forest packaging fell by the limit on the next day when it raised 900million to go public for three consecutive days. Related parties frequently reduced blood transfusion

release date: Source: China's economy

yesterday, forest packaging fell by the limit at the opening, and then fluctuated slightly and fell by the limit again until the closing. As of the close, forest packaging reported 24.59, down 9.99%, with a turnover of 263million and a turnover rate of 21.20%. It is worth noting that today is only the second day of the listing of forest packaging. Yesterday, the trading board was opened on the first day of the listing of forest packaging. The opening price was 27.32, up 44.02%. The lowest intraday price was 24.00, up 26.52%. The trading limit was raised again at the end of the session

forest packaging is engaged in the R & D, production and sales of packaging paper and its products. Its main products include base paper (Kraft linerboard, corrugated base paper), corrugated board, corrugated carton (watermark carton, offset carton, digital carton). The company's products are widely used in packaging manufacturing and packaging of industrial products and consumer goods

forest packaging was listed on the main board of Shanghai Stock Exchange on December 22. The number of shares issued was 50million, and the issue price was 18.97 per share. The sponsor was Everbright Securities Co., Ltd., and the sponsor representatives were Cheng Xin and song CAI

before this offering, the company's shareholder Lin Qijun held 29.79% of the company's shares, his brother Lin Qiqun held 25.53% of the company's shares, his brother Lin Qifa held 17.02% of the company's shares, and his brother-in-law Lin Jialian held 17.02% of the company's shares. Lin Qijun, Lin Qiqun, Lin Qifa and Lin Jialian jointly hold 89.36% of the shares of the company before this offering. The four signed a concerted action agreement, and they are the controlling shareholders and actual controllers of the company. After the issuance of 50million shares, Lin Qijun, Lin Qiqun, Lin Qifa and Lin Jialian jointly held 67.03% of the shares of the company and remained the controlling shareholder and actual controller of the company. Lin Qijun, Lin Qiqun, Lin Qifa and Lin Jialian are all Chinese nationals and have no permanent right of residence abroad

the total amount of funds raised by forest packaging is 949 million. Special fixtures or tooling will be required to meet special experimental standards. After deducting the issuance expenses, the net amount of funds raised is 890 million. Among them, 198million is used for the construction project of customized intelligent factory on green paper packaging, 192million is used for the expansion project of carton packaging materials with an annual output of 90million square meters, 376million is used for the green digital inkjet printing paper packaging intelligent factory, and 124million is used to supplement working capital

the cost of this listing and issuance of forest packaging was 58.93 million, of which the sponsor Everbright Securities Co., Ltd. received underwriting and recommendation fees of 38.5353 million, Zhonghui Certified Public Accountants (special general partnership) received audit and capital verification fees of 9.434 million, and Beijing Guofeng law firm received lawyer fees of 5.7358 million

from 2017 to 2020, the operating revenue of forest packaging was 2.155 billion, 2.476 billion, 2.046 billion and 842 million respectively, and the net profits attributable to the shareholders of the parent company were 188 million, 269 million, 170 million and 56.5454 million respectively; The net profits attributable to the shareholders of the parent company after deducting non recurring profits and losses were 239 million, 247 million, 165 million and 48.8959 million respectively

in the same period above, the net cash flows from the company's operating activities were 160million, 284million, 258million and 85.4155 million respectively. Among them, the cash received from selling goods and providing labor services was 1.653 billion, 2.288 billion, 1.822 billion and 747 million respectively

from the end of 2017 to the end of June 2020, the total forest packaging assets were 1.528 billion, 1.568 billion, 1.506 billion and 1.534 billion respectively, of which the monetary funds were 133 million, 83.8353 million, 37.5396 million and 54.4901 million respectively

in the same period above, the total liabilities of forest packaging were 890 million, 756 million, 503 million and 511 million respectively. Among them, short-term borrowings were 540 million, 452 million, 266 million and 262 million respectively

in 2020, according to the financial statements reviewed by Zhonghui accountants, forest packaging achieved an operating income of 1.482 billion, an increase of 0.76% year-on-year; The net profit was 118 million, with a year-on-year increase of 33.01%; After deducting non recurring profits and losses, the net profit was 110million, an increase of 28.90% year-on-year

based on the operating performance achieved in 2020 and the operating conditions since the fourth quarter, forest packaging is cautious. It is estimated that the annual operating revenue in 2020 will be about 2.200 billion -2.23 billion, with a year-on-year increase of about 7%-9%; The net profit was about 200-220 million, with a year-on-year increase of about 17%-30%; After deducting non recurring profits and losses, the net profit was about 185-205 million, with a year-on-year increase of about 12%-25%

from 2017 to 2020, the comprehensive gross profit margin of forest packaging showed a downward trend year by year, which were 20.54%, 18.10%, 16.81% and 15.14% respectively. In terms of products, during the reporting period, the gross profit margin of the company's base paper products (Kraft linerboard and corrugated base paper) was 19.23%, 16.40%, 14.78% and 12.15% respectively; The gross profit margin of corrugated board is 20.00%, 18.73%, 16.59% and 15.32% respectively; The gross profit margin of corrugated boxes is 25.18%, 23.60%, 24.34% and 23.34% respectively. It can be seen that the operating environment reached ⑶ 0 ℃ to 55 ℃. During the reporting period, the gross profit margin of the main products raw paper and corrugated board showed a slight downward trend, while the gross profit margin of corrugated boxes was relatively stable

in this regard, forest packaging said that the comprehensive gross profit margin of the company's products showed a slight downward trend, which was mainly affected by the fluctuation of industry prosperity

during the reporting period, the increased net profit of forest packaging tax preference accounted for an average of more than 40% of the net profit attributable to the parent company. From 2017 to 2020, the VAT levied and refunded amount of forest packaging after deducting income tax was 63.301 million, 81.9805 million, 61.3124 million and 21.7686 million respectively, and the preferential amount of enterprise income tax was 23.9429 million, 21.2946 million, 13.7417 million and 2.3862 million respectively

according to the above data, from 2017 to 2020, the total tax incentives for forest packaging were 87.2439 million, 103 million, 75.0541 million and 24.1548 million respectively

from 2017 to 2020, the net profits of forest packaging after deducting tax incentives attributable to shareholders of the parent company were 101 million, 166 million, 94.8407 million and 32.3906 million respectively, and the net profits increased by tax incentives accounted for 46.29%, 38.36%, 44.18% and 42.72% of the net profits attributable to the parent company respectively

in addition, during the reporting period, forest packaging and its wholly-owned subsidiaries forest paper, Linhai forest and Wenling forest frequently received guarantees from related parties. Among them, 17 related party guarantees are being performed, and 102 related party guarantees have been performed

in addition, forest packaging exposed 430million illegal re lending. According to Huaxia times, forest packaging revealed that there were defects in internal control. During the reporting period, in order to meet the entrusted payment requirements of the loan bank, the subsidiary forest paper obtained bank loans through suppliers. The amount was 169 million in 2016 and 258million in 2017. Such violations were rectified only the night before the company submitted the prospectus in 2018, with a total of 430million illegal loans in the reporting period

forest packaging argued that the behavior of forest paper through the supplier's refinancing did not comply with the provisions of relevant laws, regulations and contracts, but the relevant funds were used for the production and operation of forest paper, and did not cause losses to banks or other entities. Relevant banks have also issued certificates that the above-mentioned loan contract with forest paper, which adds the horizontal static load test method when the desktop is irregular, is normal and has been performed in good faith, and there is no damage to the interests of the bank. That is, the bank knows that forest packaging is using loans in violation of regulations, but it does not infringe on the interests of the bank, so the bank does not care about violations. After learning about the illegal lending behavior, the local financial regulatory department still issued a certificate stating that from 2015 to 2017, it had not received any letters and complaints about the illegal and illegal use of bank loans by forest paper

last year, a safety production accident occurred in forest packaging, resulting in one death. The prospectus shows that on May 14, 2019, a safety accident occurred in forest packaging, which resulted in one person's death. After investigation, the reason is that the car holding driver did not find the person who entered the car holding operation area in time, causing him to be killed by rolling

on August 23, 2019, the Wenling Municipal People's government issued the notice of the Wenling Municipal People's Government on Approving and transmitting the "5.14" vehicle injury accident investigation report of forest Packaging Group Co., Ltd. (wzh [2019] No. 119), which determined that the nature of the accident was a general grade of production safety accident such as raw alloy high carbon steel (or low carbon alloy steel), cold working die steel, etc. On September 20, 2019, Wenling Emergency Management Bureau issued the certificate, confirming that the issuer had not experienced major safety accidents from January 1, 2016 to the date of issuance of the certificate. The "Wenling emergency response Punishment [2019] No. and" Wenling emergency response Punishment [2019] No. "administrative punishment decision issued by Wenling Emergency Management Bureau on September 27, 2019 is recognized as a general production safety accident, and the issuer is responsible for the occurrence of the accident and will be fined 200000; Lin Hao, the main person in charge of watermark factory of the issuer, was responsible for the accident and fined 60300 for failing to supervise and inspect the safety production work of the unit. The above fine was paid on September 29th, 2019