Lee & Man Paper 2314

Re: Lee & Man Paper 2314

Postby winston » Wed Jun 13, 2012 6:19 am

Paper costs weigh on Lee & Man profit by Alice Zhao
Wednesday, June 13, 2012

Lee & Man Paper Manufacturing (2314), the second largest containerboard manufacturer by output in the mainland, reported a 26.9 percent decrease in net profit due to rising operating costs and keen competition.

The company's net profit amounted to HK$1.35 billion, or 28.82 HK cents per share, in the year ended March 31, 2012, down by 26.9 percent from the previous year.

As a result, it recommended a final dividend of 5.2 HK cents per share, down by 35 percent from the previous year.

"As oversupply continues in the short term, operations will be very difficult," said chief executive Raymond Lee Man-chun. "I don't know whether the worst is past."

Total revenue grew by only 4.9 percent to HK$14.72 billion. But rising costs in raw materials hurt its margins as earnings per tonne shrank by 28 percent to HK$363.

Lee & Man Paper's gearing ratio climbed to 65 percent, up from 55 percent a year earlier due to capacity expansion. But the firm said that level is still controllable and may ease next year.

Two new production lines with a capacity for 1.1 million tonnes will start operating this year, boosting the annual potential to 6.55 million tonnes by the end of next March.

A total of HK$1.6 billion will be spent on building plants this year.

"We are confident of selling five million tonnes this year," said Lee.

He added that the coming quarter is a boom season for the industry.

Lee & Man shares fell 1.8 percent to HK$3.21.


http://www.thestandard.com.hk/news_deta ... 20613&fc=4
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Re: Lee & Man Paper 2314

Postby winston » Tue Mar 19, 2013 5:44 am

Cash-rich Lee & Man looking good on paper

Lee & Man Paper (2314) expects 2013 to be more profitable than last year amid a recovery in the mainland economy.

The paper maker said it earned HK$1.32 billion for the nine months to December, while top- line income hit HK$11.4 billion.

No same-period comparisons were provided as the firm has changed the end date of its financial year.

Chief executive Raymond Lee Man-chun said he expects earnings before interest, tax, depreciation and amortization to reach HK$3 billion this year, compared with HK$2 billion in the nine months to December. "Profitability picked up in the fourth quarter as demand rose, which extended to after Chinese New Year," he said.

Lee & Man's gearing ratio has dropped to 58 percent as at the end of last year, compared with 65 percent in September.

It has no plans to raise money as it has "too much" even after allocating HK$1.8 billion for capital expenditure, Lee said.

The company expects the production line of its PM18 paper machine at Jiangxi industrial park with annual capacity of 350,000 tonnes to be operational by May this year.

Another two lines, with annual capacity of 350,000 tonnes and 300,000 tonnes at Jiangxi and Chongqing industrial parks, are expected to start running by the end of 2013 and June 2014.

Lee & Man shares soared 4.8 percent to HK$5.80 after the results were announced.

Lee & Man Chemical (0746), a sister firm, saw net profit down 43.2 percent last year to HK$362 million, while Lee & Man Handbags (1488) said net profit last year rose 3 percent to HK$110 million.

http://www.thestandard.com.hk/news_deta ... 30319&fc=2
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Re: Lee & Man Paper 2314

Postby winston » Tue Jun 17, 2014 10:45 am

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Lee & Man Paper (2314 HK)
Operating Environment Not As Bad As Expected.


The selective easing by the China government is positive for leading containerboard makers including Lee & Man Paper as an improvement in liquidity for SMEs should
also improve demand for containerboards.

Negatives such as lower-than-expected profitability have been partly priced in, given share price underperformance.

Given higher-than-industry ROE and stable profitability, we maintain our positive view on the company.

Maintain BUY with a lower target price of HK$5.31.

Source: UOBKH
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Re: Lee & Man Paper 2314

Postby winston » Tue Mar 10, 2015 6:33 am

Paper profits dip

Lee & Man Paper Manufacturing (2314) will launch its self-developed paper handkerchief brand "Hanky" in June and does not exclude the possibility of developing diapers and sanitary napkins in the future.

The firm said net profit last year slid 2.26 percent to HK$1.9 billion from 2013. It proposed a final dividend of 7.5 HK cents per share.

Revenue rose 0.76 percent to HK$17.1 billion.

Total sales volume increased to 5.06 million tons in 2014 and the average net profit per ton of products hit HK$376 for the year.

Chief executive Edmond Lee Man-bun expects sales this year to reach 5.63 million tons.

Lee expects competition to remain fierce this year and the problem of supply exceeding demand will still exist. But he thinks some small factories in the industry will shut this year due to stricter requirements by environmental protection administrations.

The price of paper fell from HK$3,392 to HK$3,336 per ton, and Lee expects prices to be stable this year.

Lee & Man Chemical Co (0746) announced annual net income rose 6.9 percent to HK$330 million and revenue rose 17.4 percent to HK$1.56 billion.

A final dividend of 8 HK cents was proposed.

Source: The Standard HK
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Re: Lee & Man Paper 2314

Postby winston » Tue Jun 23, 2015 11:00 am

vested

Nippon Paper Said to Cut 4.3% Stake in LEE & MAN PAPER (02314.HK)

LEE & MAN PAPER (02314.HK)'s substantial shareholder Nippon Paper planned to allot and issue its 4.3% of equity interest in the company, foreign media reported.

The company showed a large transaction of 201 million shares at the price of $4.63 per share (equivalent to 9.4% discount to the last closing price of $5.11), representing a turnover of $930 million.

Source: AAStocks Financial News
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Re: Lee & Man Paper 2314

Postby winston » Tue Jun 23, 2015 11:49 am

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LEE & MAN PAPER (02314.HK) Once Plunges 9% on Share Disposal Rumor

Nippon Paper was said to cut its entire holding of LEE & MAN PAPER (02314.HK) at the price of $4.63 per share (9.4% discount of yesterday's closing price), involving 201 million shares.

LEE & MAN PAPER's stock opened down 6.8% this morning and once fell below the 50-day MA ($4.76) with a loss of up to 9%, holding steady at the placing price.

It last traded at $4.8, down 6%, on rising volume of 230 million shares.

Source: AAStocks Financial News
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Re: Lee & Man Paper 2314

Postby winston » Tue Aug 30, 2016 2:47 pm

Aug 3, 2016

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<Research Report>BofAML Lifts LEE & MAN PAPER (02314.HK) Target to $7.1; Rated Buy

Bank of America Merrill Lynch, in its report, lifted LEE & MAN PAPER (02314.HK)'s profit after tax forecast for 2016-18 by 2-6% to reflect the better-than-expected cost controls and higher VAT rebate.

The broker lifted the target price from $6 to $7.1, with rating Buy, as the company is expected to be the key beneficiary of supply side reform of the paper sector, with profitable expansion in tissue.

The broker also believed the company can successfully pass on most of the cost increase from higher US OCC prices through price hikes and thus be able to maintain the current historic high net profit per ton.

Source: AAStocks Financial News
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Re: Lee & Man Paper 2314

Postby winston » Tue Feb 28, 2017 2:21 pm

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<Result Ann>LEE & MAN PAPER 2016 Net Profit Up 22.8% YoY to $2.863B; Final Div 11 Cents

LEE & MAN PAPER (02314.HK) announced the result for the year ended 31 December 2016.

During the period, net profit rose 22.8% yearly to $2.863 billion;

EPS amounted to 62.64 cents, up 24.2% yearly;

Final dividend amounted to 11 cents, as compared to 9.5 cents a year ago.

Including interim dividend, a total of 22 cents dividend was declared for 2016.

Source: AAStocks Financial News
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Re: Lee & Man Paper 2314

Postby winston » Tue Feb 28, 2017 2:22 pm

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<Post-Result>LEE & MAN PAPER Tumbles 7.7% after Midday; 2016 Net Profit Rises Nearly 23%

LEE & MAN PAPER (02314.HK) was under hefty selling pressure after morning's close.

The stock closed the midday at $7.58, and once bottomed at $6.71, refilling the upside gap marked on 24 January.

It last traded at $6.83, down 7.7%, on soaring volume of 17.71 million shares.

The company announced in the afternoon that the net profit last year increased nearly 23% yearly to $2.863 billion, with earnings per share of 62.64 cents. The final dividend increased nearly 16% yearly to 11 cents.

Source: AAStocks Financial News
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Re: Lee & Man Paper 2314

Postby winston » Tue Feb 28, 2017 2:22 pm

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<Post-Result>LEE & MAN PAPER Tumbles 7.7% after Midday; 2016 Net Profit Rises Nearly 23%

LEE & MAN PAPER (02314.HK) was under hefty selling pressure after morning's close.

The stock closed the midday at $7.58, and once bottomed at $6.71, refilling the upside gap marked on 24 January.

It last traded at $6.83, down 7.7%, on soaring volume of 17.71 million shares.

The company announced in the afternoon that the net profit last year increased nearly 23% yearly to $2.863 billion, with earnings per share of 62.64 cents. The final dividend increased nearly 16% yearly to 11 cents.

Source: AAStocks Financial News
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