During the period, the Group recorded a total sales volume of 5.44 million tons, a total revenue of HK$17.6 billion ($2.3 billion), annual net profit of HK$2.33 billion, and the average net profit of the products was HK$429 ($55) per ton.
Dr Raymond Lee, Chairman of Lee & Man Paper, said, “The PM20 paper machine with an annual production volume of 320,000 tons and four tissue paper machines with an annual production volume of 135,000 tons — all of which are located in the Chongqing Industrial Park — have commenced full production since last year. Benefitting from factories being shutdown in Dongguan which reduced overcapacity, falling fuel and raw material prices, and refund policies for value-added taxes, both sales revenue and profit recorded growth.”
Lee & Man Paper Manufacturing Limited is one of the leading paper manufacturers in China, specialising in the production of a range of linerboard and corrugating medium used to produce cardboard boxes for packaging purposes.
