Changes in Hong Kong stocks | Nine Dragons Paper (02689) rose more than 7%, Tongye Liwen Paper Fayingxi boxboard corrugated paper bucked the trend in the off-season

The Zhitong Finance App learned that Nine Dragons Paper (02689) rose more than 7%. As of press release, it had risen 7.6% to HK$7.79, with a turnover of HK$116 million.

According to the news, Lee & Man Paper announced Yingxi. It is expected that the first half of this year will obtain the company's in-term profit of about HK$1.33 billion to HK$1.39 billion, an increase of 64% to 71% over the previous year. Mainly due to the rise in the Group's marginal profit. It is worth mentioning that in June, the paper industry continued its “shutdown+price increase” combo, and box board corrugated paper bucked the trend in the off-season. At the beginning of June, the top ten bases of Nine Dragons Paper increased by 50-100 yuan/ton, and in the middle of the month, 21 companies followed suit by 50-200 yuan/ton. The scope and extent of price increases were rare in the off-season in the past three years.

Citigroup's previous research report indicated that Nine Dragons has successfully received about 99.9% of preferential perpetual capital securities repurchase offers, and the company is expected to save 345 million yuan in net interest expenses each year, which is equivalent to 10% and 8.7% of the profit forecast for FY27 and FY28. The bank believes that the company may issue a positive profit forecast for FY26 results in August, which may become a short-term stock price catalyst.