Slurry price resumption and deduction, this round of costs into the decline cycle

For the future 2-3 annual production capacity, we believe that there will be no imbalance between supply and demand pattern for the time being, which will lead to too fierce competition: (1) Wuzhou special paper new production capacity: 500,000 tons of food wrapping paper new production line has been put into production since the beginning of this year, sales have been verified, and downstream customers can fully digest; The new Gresin paper and liquid wrapping paper production capacity in 2023-2024, and the downstream demand for express logistics, takeout, tea and other consumer markets with good growth momentum, and the food and drink field faces the demand for paper instead of plastic. (2) New production capacity of Xianhe shares: there is no detailed paper type plan, and it is expected to be mainly added in food, medical, industrial and tobacco packaging; And Xianhe has flexible conversion capacity, according to sales production, can be flexible transfer according to market demand.