Group 1 - The core viewpoint of the article highlights a significant decline in the stock prices of paper companies, with Nine Dragons Paper (02689) down 7.36% to HKD 7.3, Chenming Paper (01812) down 6.45% to HKD 1.16, and Lee & Man Paper (02314) down 5.56% to HKD 3.57 [1] Group 2 - According to Zhuochuang Information, the price of corrugated paper in early March has exceeded that of February, deviating from seasonal trends [1] - Despite large paper mills continuing to announce price increases in mid to late March, market supply is recovering, and the operating rate of paper mills is expected to return to normal levels [1] - March is typically a relatively low-demand season, leading to limited demand growth, which may further weaken the enthusiasm of downstream buyers, increasing inventory pressure on paper mills and highlighting supply-demand contradictions, with a risk of price decline [1]