HK Stock Market Move | ND PAPER (02689) rose by over 10%. Recently, there was a notice of a price increase for packaging paper. Institutions say that the bottom valuation should be repaired and there is an opportunity for recovery.

ND PAPER (02689) rose by more than 10%, reaching 9.6% as of the time of writing, trading at 7.08 Hong Kong dollars, with a turnover of 1.09 billion Hong Kong dollars. In terms of news, it was reported that ND PAPER's ten major production bases in Dongguan, Taicang, Quanzhou, Chongqing, Leshan, and others simultaneously issued price increase notifications on May 20, covering corrugated paper, various types of cardboard, and other major packaging papers, with price increases of around 50 yuan per ton. According to tracking data from Bohai Securities, the prices of domestic corrugated paper and boxboard paper have steadily increased recently, with prices increasing by 50 yuan/ton and 25 yuan/ton respectively last week. The bank believes that in the short term, the comprehensive price increase by the major production bases of the top paper companies will further boost the price of packaging paper. Huafu Securities stated that Nine Dragons has issued a notification of a price increase for packaging paper, with the company's stock price currently corresponding to a PE of about 7x for FY26, and valuations are at the bottom, focusing on opportunities for valuation repair.