Core Viewpoint - UBS reports that Nine Dragons Paper Holdings (02689) is expected to achieve a net profit growth of 135% year-on-year to 1.8 billion RMB in the fiscal year 2025, exceeding market expectations due to lower coal prices improving paper product margins and vertical integration driving product structure upgrades [1] Group 1: Financial Performance - The net profit for Nine Dragons Paper in fiscal year 2025 is projected to be 1.8 billion RMB, a 135% increase compared to the previous year [1] - UBS has raised its target price for Nine Dragons Paper from 4.58 HKD to 7 HKD, maintaining a "Buy" rating [1] Group 2: Management Outlook - Management expresses confidence in the profit outlook, forecasting a 10% year-on-year sales growth for fiscal year 2026 [1] - UBS has increased its profit forecasts for Nine Dragons Paper for fiscal years 2026 to 2028 by 61% to 78% [1] Group 3: Profitability Drivers - The profit forecast for fiscal year 2026 has been raised from 1.6 billion RMB to 2.9 billion RMB, primarily driven by increased sales volume and improved profitability [1]
瑞银：玖龙纸业25财年业绩胜预期 升目标价至7港元