Citi: Maintains "Neutral" rating on Nine Dragons Paper (02689.HK) with a target price of HK$8.8, expects margin pressure in the first half of FY2027

Zhito Finance APP has learned that Citi issued a research report maintaining a "Neutral" rating on Nine Dragons Paper (02689.HK) with a target price of HK$8.8, and will review its forecasts after the earnings briefing on September 24. The company's financial year results for the year ended end-June were broadly in line with expectations, with net profit attributable to shareholders of RMB 3.581 billion, up 102.6% year-on-year, about 2% above the median of RMB 3.5 billion in its August profit alert. Revenue rose 18.6% year-on-year to RMB 75 billion, sales volume rose 14% year-on-year to 24.5 million tons, and average selling price rose 4% year-on-year.