Annual Report 2020

ANNUAL REPORT 2020 年度報告 5 CHAIRMAN’S STATEMENT 主席報告 於二零二一年起，中國政府已開始禁止廢紙進口，為了有 足夠的原材料應付生產，集團早在二零一九年年底在菲律 賓物色了合適的地點，並於二零二零年年初租賃現有廠房 安裝一條小型生產線製造紙漿，將廢紙造成紙漿後運送回 中國國內之現有廠房生產箱板紙，試產在二零二零年第二 季已順利完成，生產線在二零二零年下半年已正式投入生 產。 此外，集團將會在菲律賓租用新廠房安裝新的大型紙漿生 產線，預計於二零二一年年底試產，此舉將一小部分生產 工序轉移到海外處理，除了可符合中國政府之進口規定， 也可滿足上游業務的原材料需要，使集團的生產量及業務 重回正軌。 展望二零二一年，我們預期全球貿易及經濟繼續受疫情影 響，中國經濟也會繼續受到中美貿易戰的衝擊，然而我們 深信中國政府必定能推出一系列的政策來抵禦其影響，期 望有效的政策能帶動中國經濟平穩增長，從而帶動市場對 瓦楞包裝的需求。 集團將繼續改進生產流程及減少損耗，以及嚴格監控成本 以抵抗經營成本上漲的壓力，並提供更多優質的瓦楞包裝 產品予客戶。我們承諾會盡力繼續抓緊縱向整合的競爭優 勢，使集團之盈利有長遠穩定的增長。 最後，本人謹藉此機會向管理層及員工致謝，感謝各位團 結一致地面對逆境及重重挑戰，並感謝客戶、供應商、銀 行界及投資者多年來的支持，我們定必繼續努力為股東帶 來更佳回報。 主席 許森平 二零二一年三月三十日 Since the beginning of 2021, the Chinese government has prohibited imports of waste paper. To acquire enough raw materials for production, the Group located a site at a convenient location in the Philippines at the end of 2019 and leased facilities in early 2020 to install a small production line for converting waste paper into pulp, in order to ship the converted pulp to the Mainland of China as feedstock of containerboard. Trial production was completed in the second quarter of 2020 and the production line officially started production in the second half of 2020. In addition, the Group will also lease a new facility to install a new larger pulp line, which is due to start trial operations at the end of 2021. This shift in a small part of our overall production process overseas satisfies both Chinese government import requirements as well as the business needs of our Group’s upstream business, putting the Group’s production volume and overall business back on track. Looking ahead to 2021, we believe global trade and the global economy will be significantly impacted by the pandemic, and the Chinese economy will remain under pressure from the Sino- US trade war. That said, we firmly believe that the Chinese government will launch new policies and measures to counter its impact, and we remain optimistic that effective policies will allow the Chinese economy to grow at a stable pace and lift demand for corrugated packaging. The Group will continue to improve our production process and reduce wastage, and strictly control costs to alleviate the impact of rising operating costs and provide more high-quality corrugated packaging products to our customers. We remain committed to extending our competitive advantage as a vertically integrated producer and striving for sustainable long-term growth in earnings. Lastly, I would like to take this opportunity to thank our management team and staff, express my gratitude for their solidarity in facing adversities and various challenges, and thank our customers, suppliers, bankers and investors for their support over the years. We will continue to strive to deliver better returns to our shareholders. Hui Sum Ping Chairman 30th March, 2021