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Citigroup: maintains a "neutral" rating on nd paper, with the target price raised to 4.3 Hong Kong dollars.
Citigroup released a research report stating that considering the consumer recovery under stimulus policies, especially the significant growth in the household appliance industry, they slightly raised the profit forecast for ND Paper (02689) for the fiscal years 2025 to 2026 by 6%, with the target price increased to 4.3 Hong Kong dollars, maintaining a "neutral" rating, and maintaining a "sell" rating for Lee & Man Paper (02314). The report mentioned that although ND Paper turned losses into profits by the end of June 2024 fiscal year, with a net profit of 0.818 billion Chinese yuan, a significant improvement from the 2.399 billion Chinese yuan loss in the 2023 fiscal year, it is still expected that ND Paper will achieve profitability at the beginning of the 2025 fiscal year.
Dah Sing raises the target price of nd paper (02689.HK) to 4.3 yuan. Rating remains 'Neutral'.
Citigroup's research report stated that, although ND Paper (02689.HK) has turned losses into profits as of the end of June 2024 fiscal year, recording a net profit of 0.818 billion Chinese yuan, a significant improvement from a loss of 2.399 billion Chinese yuan in the 2023 fiscal year, it is still expected that ND Paper's profit level will remain low at the beginning of the 2025 fiscal year, mainly due to industry oversupply and continued weak end demand. The bank has revised down ND Paper's 2025 fiscal year profit forecast by 9% to 1.181 billion Chinese yuan, with an average monthly profit of around 98 million Chinese yuan, slightly higher than the second half of 2024 fiscal year's 86
How is the outlook for the papermaking peak season? Manufacturers are cautiously optimistic, with cost control still being the main theme|Industry News
1. The papermaking peak season has started, and many paper mills hold cautious optimism expectations; 2. The industry was flat in the first three quarters, and the cost advantages of leading paper enterprises are showing; 3. There are many factors causing differences in gross profit of paper enterprises, with inventory management being the ****e pressure of rising paper prices in Q4 still exists, and paper enterprises still need to compete in cost control.
Lee & Man Paper Secures New Sourcing Agreements
Hong Kong stocks fluctuate | Pulp and paper stocks generally rise, nd paper rises more than 5%, with a cumulative increase of more than 16% on the 6th.
On September 20th, C&D Newin rose nearly 10%, Nd Paper rose over 5%, with a cumulative rebound of over 16% in the past 6 days from the bottom, Lee & Man Paper rose nearly 3%, and Sunshine Paper was in the green. According to the data released by the Ministry of Industry and Information Technology, the national output of industrial paper and paperboard was 89.579 million tons from January to July 2024, a year-on-year increase of 11.8%. The recent research report from Changjiang Securities pointed out that after entering September, it is expected that a new round of textbook and teaching aid orders will be open for bidding, which will drive up demand; it is also expected that the packaging paper will improve in demand after entering August. According to the "14th Five-Year Plan" and the medium- to long-term development guidelines for the papermaking industry, by
Hong Kong stock concept tracking | The market is gradually entering the peak season, paper demand growth has potential (with concept stocks)
From January to July 2024, the national output of mechanical paper and paperboard was 89.579 million tons, an increase of 11.8% year-on-year.
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