Core Viewpoint - The paper industry stocks have seen significant gains due to a price increase trend in the domestic paper sector, driven by rising demand and upcoming holidays [1] Group 1: Stock Performance - Nine Dragons Paper (02689) rose by 10.23% to HKD 6.25 - Chenming Paper (01812) increased by 8.86% to HKD 0.86 - Lee & Man Paper (02314) gained 4.88% to HKD 3.01 [1] Group 2: Price Increase Trend - Since November, the domestic paper industry has experienced a continuous price increase, with Shanying Paper leading the way by raising prices for products like red sand paper and corrugated paper by CNY 30-100 per ton - Core product prices in Guangdong and Zhejiang have increased by CNY 50 per ton - Nine Dragons Paper and other companies have followed suit, with increases in kraft paper and boxboard [1] Group 3: Market Dynamics - Downstream paperboard manufacturers in regions like Zhejiang and Hunan have quickly responded with price increases of 3%-10% in a full-chain pricing adjustment from raw paper to end packaging - Bohai Securities noted that the price increase in packaging paper is spreading downstream, solidifying the basis for paper companies' price hikes, supported by the upcoming "Double Eleven" shopping festival and major holidays like New Year's and Spring Festival [1] Group 4: Industry Outlook - According to Industrial Securities, the period from 2023 to 2025 is expected to be a capacity expansion phase for the industry, with a slowdown in new capacity additions starting in 2026 - The "anti-involution" policy is expected to support the paper industry, potentially leading to an upward turning point from the bottom [1]
纸业股涨幅居前 造纸行业涨价潮持续升温 机构看好旺季需求有支撑