Is Nine Dragons Paper (Holdings) Limited (HKG:2689) Potentially Undervalued?
Nov 16
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Hong Kong (HSI) Paper and Forestry Products Industry Analysis
UpdatedNov 20, 2025
DataAggregated Company Financials
Companies10
- 7D-4.8%
- 3M4.3%
- 1Y57.0%
- YTD61.1%
Over the last 7 days, the Paper and Forestry Products industry has risen 3.7%, driven by gains from China Health Technology Group Holding of 2.1%. Meanwhile, Nine Dragons Paper (Holdings) actually underperformed within the industry, shrinking 5.6% in the last week. In the last 12 months, the industry was up 57%. As for the next few years, earnings are expected to grow by 18% per annum.
Industry Valuation and Performance
Has the Hong Kong Paper and Forestry Products Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 21 Nov 2025 | HK$41.2b | HK$95.6b | HK$2.7b | 9.1x | 15.5x | 0.4x |
| Sun, 19 Oct 2025 | HK$37.0b | HK$95.3b | HK$2.7b | 8.7x | 13.9x | 0.4x |
| Tue, 16 Sep 2025 | HK$41.5b | HK$94.4b | HK$1.7b | 11x | 24.1x | 0.4x |
| Thu, 14 Aug 2025 | HK$36.7b | HK$94.7b | HK$1.7b | 12.9x | 21.3x | 0.4x |
| Sat, 12 Jul 2025 | HK$26.9b | HK$94.9b | HK$1.7b | 8.8x | 16.1x | 0.3x |
| Mon, 09 Jun 2025 | HK$24.6b | HK$94.9b | HK$2.1b | 12.1x | 11.9x | 0.3x |
| Wed, 07 May 2025 | HK$23.2b | HK$93.8b | HK$2.1b | 11.7x | 11.3x | 0.2x |
| Fri, 04 Apr 2025 | HK$25.4b | HK$93.4b | HK$2.0b | 16.2x | 12.4x | 0.3x |
| Sun, 02 Mar 2025 | HK$25.7b | HK$92.8b | HK$2.7b | 9.6x | 9.5x | 0.3x |
| Tue, 28 Jan 2025 | HK$25.2b | HK$90.1b | HK$2.3b | 9.6x | 11x | 0.3x |
| Thu, 26 Dec 2024 | HK$25.8b | HK$89.5b | HK$2.3b | 10.2x | 11.2x | 0.3x |
| Sat, 23 Nov 2024 | HK$25.3b | HK$90.1b | HK$2.3b | 9.9x | 11x | 0.3x |
| Mon, 21 Oct 2024 | HK$27.9b | HK$91.3b | HK$2.3b | 11.5x | 12x | 0.3x |
| Wed, 18 Sep 2024 | HK$22.9b | HK$87.9b | HK$726.6m | 5.8x | 31.6x | 0.3x |
| Fri, 16 Aug 2024 | HK$24.1b | HK$87.4b | HK$785.2m | 5.9x | 30.7x | 0.3x |
| Sun, 14 Jul 2024 | HK$26.4b | HK$86.4b | HK$339.0m | 7.9x | 77.9x | 0.3x |
| Tue, 11 Jun 2024 | HK$27.6b | HK$86.5b | HK$313.5m | 7.5x | 88x | 0.3x |
| Thu, 09 May 2024 | HK$27.6b | HK$86.8b | HK$311.3m | 9.8x | 88.6x | 0.3x |
| Sat, 06 Apr 2024 | HK$26.8b | HK$86.3b | HK$309.7m | 5.2x | 86.5x | 0.3x |
| Mon, 04 Mar 2024 | HK$26.9b | HK$87.8b | -HK$224,388,806.83 | 13.8x | -119.7x | 0.3x |
| Wed, 31 Jan 2024 | HK$24.0b | HK$89.5b | -HK$2,122,321,041.00 | 12.9x | -11.3x | 0.3x |
| Fri, 29 Dec 2023 | HK$28.5b | HK$89.5b | -HK$2,121,914,478.00 | 14.1x | -13.4x | 0.3x |
| Sun, 26 Nov 2023 | HK$29.5b | HK$89.1b | -HK$2,085,200,303.00 | 185.9x | -14.2x | 0.3x |
| Tue, 24 Oct 2023 | HK$30.0b | HK$87.9b | -HK$1,980,410,245.00 | 13.5x | -15.1x | 0.3x |
| Thu, 21 Sep 2023 | HK$31.7b | HK$92.9b | -HK$383,839,530.00 | 14.5x | -82.6x | 0.3x |
| Sat, 19 Aug 2023 | HK$31.3b | HK$93.1b | -HK$395,750,152.00 | 14.6x | -79.2x | 0.3x |
| Mon, 17 Jul 2023 | HK$34.7b | HK$97.4b | HK$74.0m | 9.3x | 468.5x | 0.4x |
| Wed, 14 Jun 2023 | HK$34.7b | HK$97.8b | HK$41.0m | 10x | 845.6x | 0.4x |
| Fri, 12 May 2023 | HK$39.7b | HK$99.9b | HK$9.0m | 11.1x | 4406.5x | 0.4x |
| Sun, 09 Apr 2023 | HK$43.0b | HK$100.7b | -HK$2,726,968.00 | 11.8x | -15765.7x | 0.4x |
| Tue, 07 Mar 2023 | HK$47.5b | HK$100.1b | -HK$71,324,179.00 | 17.2x | -665.3x | 0.5x |
| Thu, 02 Feb 2023 | HK$49.5b | HK$109.4b | HK$5.5b | 8.8x | 9.1x | 0.5x |
| Sat, 31 Dec 2022 | HK$48.9b | HK$107.2b | HK$5.3b | 9x | 9.2x | 0.5x |
| Mon, 28 Nov 2022 | HK$40.1b | HK$104.8b | HK$5.2b | 7.7x | 7.7x | 0.4x |
Price to Earnings Ratio
7.7x
Current Industry PE
- Investors are pessimistic on the Hong Kong Forestry industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 15.5x which is lower than its 3-year average PE of 91.9x.
- The industry is trading close to its 3-year average PS ratio of 0.34x.
Past Earnings Growth
- The earnings for companies in the Forestry industry have declined 20% per year over the last three years,
- Revenues have also declined 3.0% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Industry Trends
Which industries have driven the changes within the Hong Kong Materials industry?
| HK Market | -3.71% | |
| Materials | -7.13% | |
| Paper and Forestry Products | -4.75% | |
| Forestry Products | -2.18% | |
| Paper Products | -4.80% | |
Industry PE
- Investors are most optimistic about the Paper Products industry even though it's trading below its 3-year average PE ratio of 46.2x.
- Analysts are expecting annual earnings growth of 17.9%, which is lower than the prior year's growth of 63.1% per year.
Forecasted Growth
- Analysts are most optimistic on the Paper Products industry, expecting annual earnings growth of 18% over the next 5 years.
- However this is lower than its past earnings growth rate of 63% per year.
- In contrast, the Paper Products industry is expected to see its earnings grow by 18% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 1069 China Health Technology Group Holding | HK$0.47 | 1.1% +HK$514.6k | 28.4% | PE2x |
