EUROMONEY INST INV BOSTON, April 13, 2021 /PRNewswire/ -- Fastmarkets RISI, the definitive source of commodity data and insights for the forest products industry, has announced that Li Hongxin, Chairman and General Manager of Shandong Sun Paper (Sun Paper), has been named the 2021 Fastmarkets RISI Asian CEO of the Year. The Award will be presented at the 22nd Annual Fastmarkets RISI Asian Conference, which will be held in person and live broadcasted from the Marriott Hotel Tomorrow Square in Shanghai, China on May 20-21, 2021.
The Fastmarkets RISI Asian CEO of the Year Award is nominated by a group of investment analysts, industry consultants and commentators covering the Asian and global pulp and paper industry.
Mr. Li, the founder of Sun Paper, is the first four-time winner of this award, having been honored in 2010, 2013 and 2015.
The reasons cited for Mr. Li's win centered on his unique strategic vision and strong execution leadership. One analyst stated that "under his leadership, the company has transformed from a prominent local paper producer into a multinational, integrated pulp and paper (P&P) giant in about a decade".
Sun Paper's controlling shareholder, Shandong Sun Holdings Group, was founded in 1982 and has evolved into a world-leading multinational P&P enterprise with nearly 10 million tonnes/yr of capacity in total.
Sun Paper started trading on the Shenzhen stock exchange in 2006. The company saw its revenue double from RMB 10.8 billion ($1.6 billion) in 2015 to RMB 21.6 billion in 2020 and its net profit almost triple to RMB 1.97 billion. In February, Sun Paper's market capitalization exceeded RMB 50 billion, making it the first and, so far, the only P&P company to have reached the milestone on mainland China's stock exchanges.
Sun Paper has greatly expanded its product portfolio and global presence. Formerly known as a major graphic paper producer, it diversified it portfolio into the containerboard section by commissioning 1.6 million tonnes/yr of new capacity in Shandong, China between 2016 and 2018. Sun Paper has also established wood pulp capacity on site and recycled pulp capacity in Laos to secure stable supply of high-quality fiber in the absence of recovered paper imports.
Under Mr. Li's direction, Sun Paper has also installed in 2020 in their Laos location two recycled containerboard machines with a combined capacity of nearly 1 million tonnes/yr. The mill's output allows Sun Paper the opportunity of duty-free access to the Chinese market. It is expected that their fast-progressing greenfield P&P project in Guangxi, China will further increase self-sufficient pulp capacity.
A second nominating analyst referred to Sun Paper's investments decisions as "a prompt move, which has positioned the company in a great position to navigate and lead during the ups and downs of the business circle in China's paper industry."
Mr. Li will accept his award and share more insights about Sun Paper at the upcoming Asian Conference on May 20th. To hear more about Sun Paper's business strategy from Mr. Li, register as a conference delegate here.
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Fastmarkets is the industry-leading Price Reporting Agency (PRA) for global commodities, providing price data, news, analytics, and events for the metals and mining, forest products, and agriculture markets. Fastmarkets' data is critical for customers seeking to understand and predict dynamic, sometimes opaque markets, enabling trading and risk management. Fastmarkets is a global business with a history exceeding 130 years built on trust and deep market knowledge. Its team of more than 430 people are located in global offices including London, Helsinki, Boston, New York, Shanghai, Beijing, Singapore, Brussels and São Paulo. Fastmarkets is part of Euromoney Institutional Investor PLC (LSE:ERM), a listed company on the London Stock Exchange. Euromoney is a leading international business-to-business information group focused primarily on the global commodities, banking and asset management markets.
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SOURCE Fastmarkets
