Movement Alert｜Nine Dragons Paper Rises 5.04% in Regular Trading, Multi-Base Price Hikes Combined with Perpetual Bond Buyback Completion

Market Focus07-14

On July 14, Nine Dragons Paper rose 5.04% in regular trading, trading at HK$7.50, with turnover of approximately HK$95.65 million.

On the news front, the company raised ex-factory prices for linerboard and corrugated paper across ten production bases including Dongguan and Chongqing effective July 10, with mainstream increases of RMB 50/ton. At the industry level, gross profit per ton for containerboard and corrugated paper improved by RMB 14 and RMB 31 respectively week-over-week in the first week of July, supported by low mill inventories and tight domestic recovered paper supply driving coordinated price increases.

Additionally, the company completed its cash tender offer for US$400 million of 14% senior perpetual capital securities on July 6, with 99.9% validly tendered. The buyback is expected to save approximately RMB 345 million in annual net interest expenses. Guotai Haitong Securities maintains an Outperform rating with a target price of HK$10.51, while UBS maintains a Buy rating with a target price of HK$10.80.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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