According to the Zhongtong Finance APP, Nine Dragons Paper (02689) rebounded by more than 4%, as of the time of writing, it rose by 4.39% to HKD 4.28, with a turnover of HKD 4.4678 million.
On the news front, several paper companies including Sun Paper, Chenming Paper, and Nine Dragons Paper have announced price increases for paper products since September, with some companies conducting three rounds of price hikes last month. Experts pointed out that this round of price increases in the paper industry is influenced by various factors such as macroeconomic recovery, market demand growth, raw material prices, and the peak season of &#34;Golden September and Silver October&#34;. However, the most important reason is to repair the losses caused by the downturn in industry prosperity since the second half of last year and stimulate market orders.
Guohai Securities pointed out that this round of price increases is expected to offset the impact of the rebound in raw material prices and restore the profitability expectations of paper companies. Huatai Securities believes that with the arrival of the peak season, the corrugated paper market for cartons has shown signs of improvement. However, due to the high level of supply, it is expected that the industry's profit recovery may still encounter some obstacles. The bank maintains a &#34;hold&#34; rating on Nine Dragons Paper with a target price lowered by 23.4% to HKD 4.82.

02689

Nine Dragons Paper rebounded more than 4%, as of the time of writing, it rose 4.39% to HKD 4.28, with a turnover of HKD 4.4678 million.

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Hong Kong Stock Market News | Nine Dragons Paper rebounds more than 4%, paper companies raise prices in September, industry profit expectations improve.