Nine Dragons Paper Renews Supply Agreements

MT Newswires Live05-19

Nine Dragons Paper (HKG:2689) renewed multiple supply agreements with its associate Dongguan Longteng, according to a Monday filing with the Hong Kong bourse.

The paper products maker's shares fell over 1% in morning trade Tuesday.

Under the agreements, the group will purchase packaging materials from Dongguan Longteng and in turn supply packaging paper products to the company for a three-year term ending June 30, 2029.

The firm also renewed a chemical purchase agreement with Cheng Ming Group and Guangdong Chengming, also for a three-year term ending June 30, 2029.

Under the agreement, the firm will purchase chemicals to meet its production requirements.

Nine Dragons similarly agreed to purchase recovered paper, pulp products, woodchips and related products from ACN, Tianjin ACN, and Hainan ACN for a three-year term ending June 30, 2029.

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