HK Stock Market Move | ND PAPER (02689) rose more than 7% during trading. The annual performance will be announced next week, with an expected net profit for the year exceeding 700 million yuan.

ND PAPER (02689) rose more than 7% during the trading day, as of the time of writing, it is up by 6% at HK$3.18, with a trading volume of HK$20.69 million. In terms of news, ND PAPER will hold a board meeting on September 25 (next Wednesday) to approve the annual year-end performance. The company previously announced a profitable result, expecting a net profit of approximately RMB 700-800 million for the year ending in June, compared to a loss of RMB 2.383 billion for the previous year, turning a loss into a profit mainly due to an increase in sales volume and gross profit margin in the current year. Guosen pointed out that in early September, companies such as Huatai Paper, Shandong Sun Paper, Yueyang Forest & Paper, among others, announced price increases for cultural paper, while Morning Dragon Paper and others announced price increases for corrugated boxboard paper. With back-to-school season replenishment orders and strong demand during the Mid-Autumn Festival and National Day, the prices of cultural paper and packaging paper are expected to stabilize and rebound, combined with lower pulp costs, Q4 profits are expected to marginally improve.