Daiwa released a research report stating that it maintains the “buy” rating of Nine Dragons Paper (02689.HK) and the performance forecast remains unchanged, that is, net profit per ton for the second half of fiscal year 2024 was 48 yuan; net profit per ton for the 2025 to 2026 fiscal year reached 145 to 161 yuan, and the target price was raised from HK$5 to HK$5.5. Although it is the traditional low season for the paper industry after the Lunar New Year, Nine Dragons Paper still achieved strong sales volume and a capacity utilization rate close to full capacity in April, indicating a strong increase in the company's sales share.
大和：维持玖龙纸业(02689.HK)“买入”评级 目标价上调至5.5港元
Yamato: Maintaining Nine Dragons Paper's (02689.HK) “Buy” rating and raising the target price to HK$5.5
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