China's Nine Dragons Paper rises on solid annual profit forecast

Nine Dragons Paper (Holdings)

20/08/2025 07:15

** Shares of Nine Dragons Paper (Holdings) 2689.HK jump 9.1% to HK$5.25, their highest point since August 11

** Stock on course to snap two straight session of decline, if gains hold

** The Chinese paper products and pulp producer expects its net profit for the year ended June 30 to jump 165%-190% y/y to 2.1 billion-2.3 billion yuan ($292.3 million-$320.14 million) range, supported by an increase in sales volume and lower raw material costs

** Hang Seng Commerce & Industry Index .HSNC eases 0.4%, the benchmark Hang Seng Index .HSI slips 0.1%

** YTD, stock up 67.6%

($1 = 7.1843 Chinese yuan)

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))