Dashengda shares fell again, closing at 15.18 yuan, down 9.8%. Market
participants said sustained rises in corrugated base‑paper prices, combined with
strong downstream bargaining power and long price‑lock periods, are delaying
pass‑through and squeezing margins. Dashengda said corrugated base paper is its
principal raw material; it buys base paper and processes it into packaging
boxes, and recent price increases have raised costs that are passed on to
downstream customers. The company added downstream demand is mainly tied to the
consumer sector and that its products include general corrugated boxes and inner
boxes for baijiu.
