HK Stock Market Move | ND PAPER(02689) rose over 4%. The company's self-sufficiency in wood pulp has increased significantly, bringing cost advantages. It will fully benefit from the industry's supply and demand improvement.

ND PAPER (02689) rose more than 4%, as of the time of writing, it increased by 4.05% to HKD 8.73, with a trading volume of HKD 73.7666 million. In terms of news, recently, ND PAPER released a performance profit forecast. Shenwan Hongyuan Group pointed out that the company's net profit for FY26H1 is expected to be between 21.5-22.5 billion yuan, a year-on-year increase of 216%-231%. After deducting the interest on perpetual bonds, the net profit attributable to the parent company is expected to be between 19.5-20.5 billion yuan, a year-on-year increase of 315%-337%, exceeding expectations. The bank believes that the company has mainly benefited from the significant effects of pulp-paper integration. As of the end of FY26H1, the company has a capacity of 5.43 million tons of pulp, and it is expected to put into operation another 2 million tons of chemical pulp in FY27, bringing significant cost advantages due to the improved self-sufficiency rate of wood pulp. The bank continued to point out that since the second half of 2025, the prices of corrugated cardboard and white cardboard paper have hit bottom and rebounded. The average price of corrugated cardboard paper increased by 33 yuan/ton to 3648 yuan/ton, and the price of white cardboard paper increased by 309 yuan/ton to 4239 yuan/ton compared to the end of August. With a capacity of 17.13 million tons of corrugated cardboard and 3 million tons of white cardboard paper, the company fully benefits from the improvement of industry supply and demand. Although the price of cultural paper is declining, it benefits from the advantages of pulp-paper integration, and profitability remains stable.