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GF Securities Starts Nine Dragons Paper at Buy With HK$3.42 Price Target
The Three-year Shareholder Returns and Company Earnings Persist Lower as Nine Dragons Paper (Holdings) (HKG:2689) Stock Falls a Further 5.6% in Past Week
[Brokerage Focus] Zheshang maintains a "Buy" rating on ND PAPER (02689), expecting moderate upward adjustments in prices and profits in the boxboard and corrugated paper Industry.
Jingwu Financial News | Zheshang Securities issued a Research Report indicating that ND PAPER (02689) achieved a revenue of 59.818 billion yuan in FY2024 (up 5.16% year-on-year), with a net income of 0.751 billion yuan (up 131.50% year-on-year). Among them, FY24H2 achieved a revenue of 29.206 billion yuan (up 14.3% year-on-year) and a net income of 0.459 billion yuan (up 146% year-on-year), showing a recovery in profitability. The report indicates that since the beginning of 2024, the running of cardboard corrugated paper has been weak, and although paper prices have declined year-on-year, the rate of cost decline is faster, leading to improved profitability. Since October, the scale...
Hong Kong Stock Concept Tracking | Several cardboard manufacturers have issued price increase notices, starting price increase "self-rescue" mode (with listed concept stocks).
Since December, the new round of price increases in the paperboard Industry has continued the upward momentum from November.
Citi: Maintains ND PAPER's "Neutral" rating, with the Target Price lowered to HKD 3.7.
Citi has released a research report stating that it is maintaining its earnings forecast for ND PAPER (02689), but has lowered its Target Price from 4.3 Hong Kong dollars to 3.7 Hong Kong dollars, believing that the opportunities for profit improvement are limited in the current environment. The firm expects the four major paper companies in China to continue expanding their production capacity despite low profitability, as it is easier for companies to obtain permits in provinces or cities in China. The firm maintains a 'neutral' rating for ND PAPER and LEE & MAN PAPER (02314).
Nine Dragons Paper Sets Clear Board Roles and Functions
Analysts Are Updating Their Nine Dragons Paper (Holdings) Limited (HKG:2689) Estimates After Its Interim Results
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