HK Stock Market Move | ND PAPER (02689) plunged 15% in the afternoon,92.4%103.7%.

ND PAPER (02689) plummeted 15% in the afternoon, and as of the time of writing, it has dropped 13.14%, trading at HKD 6.875, with a transaction volume of HKD 445 million. On the news front, ND PAPER announced at noon that it anticipates an annual net profit of approximately RMB 3.9 billion to RMB 4.1 billion for the period ending in June, representing a year-on-year growth of 77.1% to 86.2%. This profit growth is primarily driven by an increase in sales volume; the rise in product prices has been significantly higher and faster than the increase in raw material costs, thereby promoting gross profit growth. It is noteworthy that the company issued USD 400 million of perpetual capital securities in June 2024. The share of profit attributable to the holders of perpetual capital securities for this fiscal year is approximately RMB 375.6 million. As a result, the group expects that the profit attributable to the equity holders of the company for this fiscal year will be around RMB 3.4 billion to RMB 3.6 billion, representing an increase of 92.4% to 103.7% year-on-year. The company fully redeemed the outstanding perpetual capital securities on August 11, 2026. The USD 400 million of perpetual capital securities has been redeemed, canceled, and delisted from the Singapore Exchange Limited.