After the good news of nd paper (02689) profit, it rose more than 5%. As of the press release, it rose 5.57% to HKD 3.03, with a turnover of HKD 3.2961 million.
According to the Futu Securities APP, after the good news of nd paper (02689) profit, it rose more than 5%. As of the press release, it rose 5.57% to HKD 3.03, with a turnover of HKD 3.2961 million.
On the news front, nd paper has released an announcement stating that it is expected to achieve a net profit attributable to equity holders of the company for the fiscal year ending June 30, 2024, ranging from RMB 0.7 billion to RMB 0.8 billion, compared to a loss attributable to equity holders of the company in the previous fiscal year of RMB 2.383 billion. The increase in net profit attributable to equity holders is mainly due to the increase in sales volume and gross margin of the group in the current fiscal year.
China Post Securities pointed out that recent overseas wood pulp prices have been adjusted downward, and the pressure on the cost side may gradually ease. With the release of overseas wood pulp production capacity in the future, wood pulp prices are expected to further decline. For downstream household paper companies, the pressure on the cost side is expected to be alleviated, and profitability will gradually recover.