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里昂:下调玖龙纸业评级至“沽售” 目标价降至4.1港元

Lyon: Lowered the rating of Nine Dragons Paper to “sell” and the target price was reduced to HK$4.1

新浪港股 ·  09/27/2023 12:02

Lyon released a research report that downgraded Nine Dragons (02689) from "outperform" to "sell" and lowered its target price from HK $5 to HK $4.10. The company recorded its first net loss of 2.383 billion yuan in fiscal year 2023, in the middle of a profit-warning range, mainly due to weak demand and high fixed costs, causing sales to fall 12.1 per cent from a year earlier. The bank expects Jiulong Paper's recent earnings to remain under pressure, mainly due to high operations and financial leverage exacerbating weak demand.

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