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Huasheng Securities: Recommended to “buy” Sunshine Paper, stock prices have room to grow by nearly 60%
According to a research report released by Huasheng Securities, Sunshine Paper's owner business has outstanding advantages, and the main business restoration+specialty paper business market opening is highly certain. At the same time, in the future, with the support of new shareholders C&D Pulp, they are expected to use synergies to reduce costs and increase efficiency, covering the first time, giving it a “buy” rating. Referring to comparable companies' 2024 expectations of the PE and Hong Kong A-share market differences, a conservative estimate of 7 times PE. Based on the 2024 EPS 0.54 yuan/share calculation, the corresponding stock price is HK$4.12 per share, which has room for growth of about 59% compared to the current stock price. The bank predicts net profit share for 2023-2025
Changes in Hong Kong stocks | Nine Dragons Paper (02689) rose more than 4%, leading paper stocks, cultural paper companies issued price increase letters to boost market confidence
Most paper stocks rose. As of press release, Nine Dragons Paper (02689) rose 4.18% to HK$4.24; Liwen Paper (02314) rose 2.84% to HK$2.17; and Sunshine Paper (02002) rose 1.53% to HK$2.66.
Nine Dragons Paper (Holdings) (HKG:2689 Shareholders Incur Further Losses as Stock Declines 7.1% This Week, Taking Three-year Losses to 59%
The truth is that if you invest for long enough, you're going to end up with some losing stocks. But the long term shareholders of Nine Dragons Paper (Holdings) Limited (HKG:2689) have had an unfortu
Daiwa: Raised Nine Dragons Paper's rating to “outperform the market” with a target price of HK$5
According to a research report published by Daiwa, Nine Dragons Paper (02689) was upgraded from “holding” to “outperforming the market” and downgraded the 2023-24 net value per share (Book Value per Share) by 3% to 6%, mainly reflecting the slow recovery of the company's net profit per ton, with a target price of HK$5. According to the report, the company's valuation may have bottomed out and profitability has steadily improved. It is expected that the Group's local business is likely to be profitable in the fourth quarter of this year. At the same time, the seasonal demand trend has returned this year. Coupled with October inventories reaching a relatively healthy level and supply and demand expectations continuing to improve, I believe
Daiwa: Raised Nine Dragons Paper (02689) rating to “outperform the market” target price of HK$5
The net profit of Jiulong Paper (02689) in FY2024 was RMB 24 per tonne from Daiwa Materials, which rose to 81 yuan in FY2025.
Changes in Hong Kong stocks | Lee & Man Paper (02314) rose nearly 4%, leading paper stocks, paper companies' steady progress in price increases, which is expected to drive continuous improvement in profits
Paper stocks rose collectively. As of press release, Liwen Paper (02314) rose 3.93% to HK$2.38; Nine Dragons Paper (02689) rose 2.71% to HK$4.54; and Chenming Paper (01812) rose 0.88% to HK$2.28.
ND PAPER: 2022/2023 Annual Report
Hong Kong stocks closed (10.05) | Hang Seng Index closed up 0.1%, beer stocks were strong throughout the day, and Budweiser Asia Pacific (01876) led the rise in blue chips
Hong Kong's Hang Seng Index opened with an increase of 0.31%. The three major indices fluctuated throughout the day. Their gains narrowed somewhat in the afternoon, and finally closed slightly higher. By the close, the Hang Seng Index rose 0.1% or 18.03 points to 17213.87 points, with a full-day turnover of HK$47.05 billion.
Profits turned losses and stock prices fell to the bottom, and Nine Dragons Paper (02689) fell into a “darkest hour”
Nine Dragons Paper, a leader in China's paper industry, experienced its first loss in 17 years since listing.
Lyon: Lowered the rating of Nine Dragons Paper to “sell” and the target price was reduced to HK$4.1
Lyon released a research report saying that the rating of Nine Dragons Paper (02689) was downgraded from “outperforming the market” to “selling”, and the target price was lowered from HK$5 to HK$4.1. The company recorded its first net loss of RMB 2,383 million in fiscal year 2023. It is in the middle of the earnings warning range. Mainly, weak demand and high fixed costs led to a 12.1% year-on-year decline in sales. The bank expects that the profit of Nine Dragons Paper will remain under pressure recently, mainly due to high operating and financial leverage that exacerbates weak demand.
CICC: Maintains Kowloon Paper's “Outperform the Industry” rating target price of HK$6.3
CICC released a research report stating that it maintains the “outperforming industry” rating of Nine Dragons Paper (02689). The profit forecast for FY24-25 was 2.5 billion yuan, unchanged at 3.5 billion yuan, and the target price was HK$6.3 billion. The company's FY23 achieved revenue of 56.7 billion yuan (-12% year-on-year), net profit of 2.4 billion yuan (same period last year); 2 HFY23 achieved revenue of 25.5 billion yuan and net profit of 995 million yuan (1HFY23 was -1.4 billion yuan; same period last year was 500 million yuan), and performance fell short of the bank and market expectations. According to the report, as the industry enters the 3Q seasonal peak season, downstream steps make up
Is Nine Dragons Paper (Holdings) (HKG:2689) Using Debt In A Risky Way?
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of permanent loss is the risk I worry about... and every practical investor I know wor
Bank of America Securities: Reiterates Nine Dragon Paper's “Outperforming Market” Rating Target Price of HK$4
Demand for Nine Dragons Paper (02689) continued to improve in the fourth quarter, mainly due to seasonal effects, such as the Double 11 e-commerce event. The Zhitong Finance App learned that Bank of America Securities released a research report stating that it reaffirmed the “outperforming market” rating of Nine Dragons Paper (02689) and lowered the profit estimates for FY2024 and FY2025 by 8% and 3%, respectively. The target price remained at HK$4 because its profits were still weak. According to the report, the company's net loss after tax for the 2023 fiscal year reached 2.38 billion yuan, which is generally in line with the profit warning guidelines, but the net loss is still higher than expected. The bank expects its recent performance to be weak, mainly due to continued demand
Selected GLONGHUI ANNOUNCEMENTS (Hong Kong Stocks) | Australia's Chengfeng Higher Education College Turns a Yearly Loss to a Profit of about 1.1 million Australian dollars, and the total number of EFTSL for higher education services rose by about 41.6%
[Today's Focus] Australian Chengfeng Higher Education (01752.HK) announced annual results and turned a loss into a profit of about 1.1 million Australian dollars, the total number of higher education service EFTSL increased by about 41.6%, Australia's Chengfeng Higher Education (01752.HK) announced that for the year ended June 30, 2023, the company's revenue increased by about 43.6% to about 26.8 million Australian dollars. Gross profit was approximately $11.8 million, an increase of about 55.6%. The gross margin increased from about 40.5% to about 43.9%, mainly due to an increase in tuition income. Annual profit was about 1.1 million Australian dollars, compared to a loss of about 1.3 million Australian dollars
Nine Dragons Paper Swings to Loss in Fiscal 2023
Nine Dragons Paper (Holdings) (HKG:2689) incurred a loss attributable to shareholders of 2.38 billion yuan for the fiscal year, swinging from the year-ago attributable profit of 3.28 billion yuan. The
ND PAPER: Announcement of Annual Results for the Year Ended 30 June 2023
Zheshang Securities: Maintaining the “buy” rating of Nine Dragons Paper, expecting price increases to be implemented to drive 23H2 upward
Zheshang Securities released a research report saying that it maintained the “buy” rating of Nine Dragons Paper (02689). Overall, the impact of FY23H2 imported paper and demand recovery fell short of expectations, putting pressure on the company's FY23 performance. Considering that the current demand environment is still at the bottom, the FY24-FY25 profit forecast was lowered. It is expected that FY23-FY25 will achieve revenue of 611/772/88.6 billion yuan, -5%/+26%/+15% over the same period, achieving net profit of 24.1/29.8/415 billion yuan. Since paper prices, inventory, and raw materials are all at the bottom, the cost performance ratio of domestic paper is beginning to show. I am optimistic that this round of price increases will come to fruition
Nine Dragons Paper (02689.HK) plans to hold a board meeting on September 25 to approve final results
Glonghui, September 6, 丨 Nine Dragons Paper (02689.HK) announced that it will hold a board meeting on September 25, 2023 (Monday) at Room 1, 22/F, One Harbour Square, 181 Hoi Bun Road, Kwun Tong, Kowloon, Hong Kong to review (including) the company and its subsidiaries's final results for the year ended June 30, 2023 and their release, and consider issuing a final dividend (if any).
ND PAPER: Date of Board Meeting
Morgan Stanley: Maintaining a simultaneous market rating target price of HK$5.6 for Nine Dragons Paper
Morgan Stanley released a research report saying that Kowloon Paper (02689) lost more than expected for the full fiscal year, maintained a target price of HK$5.6, and remained “in sync with the market” rating.