22 September 2018

Qunxing Paper warns of earnings plunge, paper says

Qunxing Paper Holdings (03868.HK) on Thursday warned its earnings would plunge this year as major customers in Shandong province may stop ordering from the firm after facing disturbances, The Standard reported on Friday. China’s largest decorative-base paper maker said big clients of its Shandong unit were visited by strangers who asked them about the orders they had placed. As a result, many of the clients had given notice that they would not place orders after the third quarter, the report said. This would have “a material adverse impact” on sales and profit in the fourth quarter and possibly next year, according to Qunxing Paper.

– Contact HKEJ [email protected]



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