Core Viewpoint - Nine Dragons Paper Industries reported a revenue of 63.24 billion RMB for the fiscal year ending June 30, 2025, representing a year-on-year growth of approximately 6.3% and a gross profit increase of about 26.9% to 7.25 billion RMB, primarily due to a larger decline in raw material costs compared to product prices [1] Group 1: Financial Performance - Revenue for the fiscal year 2024-2025 reached 63.24 billion RMB, marking a 6.3% increase from the previous fiscal year [1] - Gross profit rose by approximately 26.9% to 7.25 billion RMB, attributed to a more significant decrease in raw material costs compared to product prices [1] Group 2: Expansion Projects - The company continues to advance new project constructions, with successful launches of high-end paper and raw material projects in Beihai, Guangxi, and Jingzhou, Hubei [1] - In the third quarter, new production lines for 1.2 million tons of white cardboard and 700,000 tons of wood pulp, as well as 400,000 tons of cultural paper, were put into operation [1] Group 3: Production Capacity - As of June 30, 2025, Nine Dragons Paper's fiber raw material production capacity reached 7.5 million tons, with a designed paper production capacity of 23.5 million tons [1] - The designed production capacity for corrugated paperboard and cartons is approximately 2.9 billion square meters [1] Group 4: Future Plans - In the new fiscal year, the company plans to further expand wood pulp production capacity in Beihai, Jingzhou, Chongqing, and Tianjin, totaling a designed capacity of 3.4 million tons [2] - The company aims to increase cultural paper and white cardboard production capacity by a combined 2.5 million tons at the Jingzhou and Beihai bases [2] Group 5: Capital Expenditure and Expansion Projects - Key capital expenditures and expansion projects include: - Jingzhou, Hubei: 0.65 million tons of chemical pulp completed by June 2025, and 0.70 million tons of chemical mechanical pulp completed by August 2025 [3] - Chongqing: 0.70 million tons of chemical pulp expected to be completed by Q4 2026 [3] - Tianjin: 0.50 million tons of chemical pulp expected to be completed by Q4 2026 [3] - Beihai, Guangxi: 0.80 million tons of chemical pulp expected to be completed by Q1 2027 [3] - Successful completion of these expansion plans will enhance the company's integrated pulp and paper advantages, improve profitability, and strengthen sustainable development in the industry [3]

Core Viewpoint - Nine Dragons Paper Holdings Limited reported a significant increase in annual performance metrics, yet the stock price declined over 3% following the announcement, indicating market skepticism about future growth potential [1] Financial Performance - Sales volume increased by 9.6% to approximately 21.5 million tons [1] - Revenue rose by approximately 6.3% to 63.241 billion yuan [1] - Gross profit increased by approximately 26.9% to 7.245 billion yuan [1] - Profit attributable to equity holders surged by approximately 135.4% to 1.767 billion yuan [1] Future Capacity Expansion - The company plans to add 2.5 million tons of cultural paper and packaging paper capacity, along with 1.35 million tons of pulp capacity in the fiscal year 2026 [1] - Initial contributions from the increased capacity may be limited and could be offset by lower average pulp prices [1] Profitability Outlook - Citigroup's report suggests that as long as monthly profits remain above 200 million yuan, there is potential for further upward adjustments in profit forecasts for fiscal year 2026 [1]

Core Viewpoint - Nine Dragons Paper Holdings Limited reported a significant increase in sales and profits for the fiscal year ending June 30, 2025, but the stock price fell over 3% following the earnings announcement [1] Financial Performance - Sales volume increased by 9.6% to approximately 21.5 million tons [1] - Revenue rose by approximately 6.3% to 63.241 billion yuan [1] - Gross profit increased by approximately 26.9% to 7.245 billion yuan [1] - Profit attributable to equity holders surged by approximately 135.4% to 1.767 billion yuan [1] Future Capacity Expansion - The company plans to add 2.5 million tons of cultural and packaging paper capacity and 1.35 million tons of pulp capacity in fiscal year 2026 [1] - Initial contributions from the increased capacity may be limited and could be offset by lower average pulp prices [1] Profitability Outlook - Citigroup's report suggests that as long as monthly profits remain above 200 million yuan, there is potential for further upward adjustments in the profit forecast for fiscal year 2026 [1]

Core Viewpoint - Citigroup's research report indicates that Nine Dragons Paper Holdings' net profit for the fiscal year ending June 2025 surged 135% year-on-year to 1.767 billion HKD, aligning with earlier guidance of 1.7 billion to 1.9 billion HKD [1] Group 1: Financial Performance - The bank raised its earnings forecasts for the fiscal years 2026 to 2027 by 12% to 16% due to better-than-expected performance [1] - The conservative estimate for the fiscal year ending June 2026 is a 43% year-on-year increase in profit to 2.529 billion HKD [1] - The target price has been adjusted from 6.2 HKD to 8 HKD, maintaining a "buy" rating [1] Group 2: Capacity Expansion - The group plans to add 2.5 million tons of cultural and packaging paper capacity and 1.35 million tons of pulp capacity in the fiscal year 2026 [1] - Initial contributions from the increased capacity may be limited and could be offset by lower average pulp prices [1] Group 3: Profitability and Sales Forecast - As long as monthly profits remain above 200 million HKD, there is potential for further upward adjustments in the profit forecast for fiscal year 2026 [1] - Sales volume for fiscal year 2026 is expected to grow approximately 9% to 23.5 million tons, with a projected net profit per ton of 108 HKD, down from 129 HKD in fiscal year 2025 [1]

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Core Viewpoint - Nine Dragons Paper Holdings Limited reported significant growth in key financial metrics for the fiscal year ending June 30, 2025, indicating a strong operational performance and market demand [1] Financial Performance - Sales volume increased by 9.6% to approximately 21.5 million tons [1] - Revenue rose by approximately 6.3% to RMB 63.2405 billion [1] - Gross profit increased by approximately 26.9% to RMB 7.2451 billion [1] - Net profit surged by approximately 177.3% to RMB 2.2017 billion [1] - Profit attributable to equity holders increased by approximately 135.4% to RMB 1.7671 billion [1] - Basic earnings per share rose by approximately 137.5% to RMB 0.38 [1]

Core Insights - The company, Nine Dragons Paper Holdings Limited, reported a 9.6% increase in sales volume to approximately 21.5 million tons for the fiscal year ending June 30, 2025 [1] - Revenue increased by approximately 6.3% to 63.241 billion yuan, driven by the increase in sales volume despite a 3.0% decrease in average selling price [1] - Gross profit rose by approximately 26.9% to 7.245 billion yuan, with net profit attributable to equity holders increasing by approximately 135.4% to 1.767 billion yuan, resulting in basic earnings per share of 0.38 yuan [1] Revenue and Profitability - Revenue growth was primarily attributed to a 9.6% increase in sales volume, offset by a 3.0% decline in average selling prices [1] - The gross margin improved from 9.6% in the fiscal year 2024 to approximately 11.5% in fiscal year 2025, mainly due to a larger decline in raw material costs compared to the decrease in product prices [1]

Core Viewpoint - Nine Dragons Paper Holdings Limited reported significant growth in sales, revenue, and profits for the fiscal year ending June 30, 2025, indicating strong operational performance and improved profitability metrics [1]. Financial Performance - Sales volume increased by 9.6% to approximately 21.5 million tons [1] - Revenue rose by approximately 6.3% to RMB 63.2405 billion [1] - Gross profit increased by approximately 26.9% to RMB 7.2451 billion [1] - Net profit surged by approximately 177.3% to RMB 2.2017 billion [1] - Profit attributable to equity holders increased by approximately 135.4% to RMB 1.7671 billion [1] - Basic earnings per share rose by approximately 137.5% to RMB 0.38 [1] Profitability Metrics - Gross profit margin improved from 9.6% in the fiscal year 2024 to approximately 11.5% in fiscal year 2025 [1] - The increase in gross profit margin was primarily due to a larger decline in raw material costs compared to the decline in product prices [1]

Core Insights - The company, Nine Dragons Paper Holdings Limited, reported a 9.6% increase in sales volume to approximately 21.5 million tons for the fiscal year ending June 30, 2025 [1] - Revenue rose by approximately 6.3% to 63.241 billion yuan, while gross profit increased by about 26.9% to 7.245 billion yuan [1] - Profit attributable to equity holders surged by approximately 135.4% to 1.767 billion yuan, with basic earnings per share at 0.38 yuan [1] Revenue and Sales Performance - The revenue growth was primarily driven by a 9.6% increase in sales volume, despite a net impact from a 3.0% decrease in average selling prices [1] - The gross profit margin improved from 9.6% in the fiscal year 2024 to approximately 11.5% in fiscal year 2025 [1] Cost and Pricing Dynamics - The increase in gross profit margin was mainly due to a larger decline in raw material costs compared to the decrease in product selling prices [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （於百慕達註冊成立的有限公司） （股份代號：2689） 截至二零二五年六月三十日止年度 全年業績公佈 財務摘要 – 1 – • 本集團的銷量增加9.6%至約21.5百萬噸。 • 收入增加約6.3%至人民幣63,240.5百萬元。 • 毛利潤增加約26.9%至人民幣7,245.1百萬元。 • 淨利潤增加約177.3%至人民幣2,201.7百萬元。 • 本公司權益持有人應佔盈利增加約135.4%至人民幣1,767.1百萬元。 • 每股基本盈利增加約137.5%至人民幣0.38元。 財務業績 玖龍紙業（控股）有限公司（「本公司」）董事會（「董事會」）欣然公佈，本公司及其附屬公司 （「本集團」或「玖龍紙業」）截至二零二五年六月三十日止年度（「二零二五財政年度」）之綜 合業績，連同上一財政年度（「二零二四財政年度」）之比較數字如下。 綜合損益表 | | | | | 截至六月三十日止年度 | | | --- | - ...