Group 1 - Morgan Stanley has set a target price of HKD 6 for Nine Dragons Paper Holdings Limited (02689) and rated it "in line with the market" [1] - Nine Dragons Paper is expected to see a year-on-year net profit increase of 216% in the first half of 2026, reaching between RMB 2.15 billion and RMB 2.25 billion, slightly above Morgan Stanley's forecast of RMB 2 billion [1] - The firm anticipates stable overall performance for the group in 2026, noting that the first half is traditionally a low-demand season for paper manufacturers, which may lead to slight price corrections [1] Group 2 - Morgan Stanley believes that the group's optimized product structure and improved cost performance will help mitigate the impact of reduced demand during the consumption off-season, supporting stable annual profitability [1]
大摩：料玖龙纸业今年业绩稳健 评级“与大市同步”