BankM - Repräsentanz der biw Bank für Investments und Wertpapiere AG

EANS-Research: BankM - Repräsentanz der biw Bank für Investments und Wertpapiere AG
YOUBISHENG Green Paper AG: "Green Dress" for Chinese Consumer Goods (with document)

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Corporate Profiles/IPO, Basic Report, Initiation od Coverage

Frankfurt (euro adhoc) - "Green Dress" for Chinese Consumer Goods 
YOUBISHENG Green Paper AG (ISIN DE000A1KRLR0, Prime Standard, YB1) is an
established Clean Tech Leader for the efficient and sustainable production of
high quality Linerboard used for consumer goods packaging of leading brand
manufacturers in the Fujian and Guangdong region.
1)First Chinese manufacturer to produce high end packaging material for consumer
goods  from 100 percent recycled paper:
a.Positive client reception and government support
b.Conservation of resources; environmentally friendly production 
c.Reduced costs due to comparatively low raw material prices
2)The Company introduces value boosting innovations into the highly fragmented
Chinese Linerboard market 
3)Innovative products to replace much more expensive and environmentally
unfriendly packaging material (Kraftliner) 
4)Innovative products to prevent counterfeiting of branded goods packaging 
5)Tripling of output within 24 months due to growing market and rising demand
for innovative packaging materials highly likely
6)Strategically located in leading consumer goods production region  
Currently, its production capacity of Testliner is stretched to the limit with a
utilization of 95 percent. Thus, the current growth can only be generated by
outsourcing parts of the production. However, given the prosperous Chinese
economic outlook and the market changing product innovations, the Company now
intends to expand its production capacity in order to repatriate outsourced
production and to satisfy the growing demand for packaging material in the
region. In order to finance the capital-intensive investment into a new
production line, increasing capacity from 150,000 to 450,000 tons p.a., the
Company plans to launch an IPO in Germany. The total investment amounts to ca.
EUR 70 Mill., EUR 36.8 Mill. of which are expected to be raised (net) during the
IPO; the remainder of EUR 33.2 Mill. will be financed by the Company´s operating
cash flow. 
By expanding its production capacity, the company will be able to increase
market share, to repatriate outsourced production, and - via product innovations
- to protect its margins against expected competition. 
Based on our DCF and Peer Group analysis we calculate a post-money fair value of
the equity of EUR 184.5 Mill. or EUR 12.30 per share.

Attachments with Announcement:

Further inquiry note:
Dr. Roger Becker
Tel: +49 69 71 91 838 46

For questions, please also contact our sales-desk at +49 69 71 91 838 12.

end of announcement                               euro adhoc 

Attachments with Announcement:

company:     BankM - Repräsentanz der biw Bank für Investments und Wertpapiere AG
             Mainzer Landstraße 61
             D-60329 Frankfurt

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