Group 1 - The paper industry stocks have experienced significant declines, 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] - 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 manufacturers continuing to announce price increase plans in mid to late March, market supply is recovering, and the operating rate of paper mills is expected to return to normal levels [1] Group 2 - March is typically a relatively low consumption season, leading to limited demand growth and poor performance in the end market, which may further weaken downstream purchasing enthusiasm [1] - Increased inventory pressure on paper mills is anticipated due to the highlighted supply-demand imbalance, indicating a risk of price weakening [1]