Shanying International disclosed its 2026 semi-annual report. In the first half, non-GAAP net profit attributable to the parent company was a loss of 724 million yuan, down 1000.36% year-on-year. The company achieved operating revenue of 14.259 billion yuan, up 3.01% year-on-year, while net profit attributable to the parent company was a loss of 682 million yuan, compared with a profit of 42 million yuan in the same period last year. The main reason for the loss was rising raw material costs in the papermaking segment squeezing gross margin. The gross margin of the papermaking business fell from 8.05% in the same period last year to 1.01%, containerboard gross margin dropped to 2.02%, and corrugated paper gross margin turned negative to minus 1.65%. However, operations showed marginal improvement. In the second quarter, net profit attributable to the parent company narrowed its loss by 313 million yuan compared with the first quarter, a quarter-on-quarter reduction of 62.95%. In June alone, the company overall achieved a turnaround to profitability. Paper sales volume reached 3.7411 million tonnes, up 7.68% year-on-year, with a production-to-sales ratio of 103.17%.
Anhui Shanying Paper Industry Co LtdRising raw material costs squeezed papermaking gross margin, causing a loss.
