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
- 7D3.7%
- 3M5.3%
- 1Y57.3%
- YTD61.8%
The Paper and Forestry Products industry is up 3.7% in the last week, with Nine Dragons Paper (Holdings) up 5.1%. Meanwhile, Integrated Waste Solutions Group Holdings actually underperformed within the industry, shrinking 9.1% in the last week. This means that the industry has gained 57% over the past year. Looking forward, earnings are forecast to grow by 18% annually.
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 |
|---|---|---|---|---|---|---|
| Thu, 20 Nov 2025 | HK$41.2b | HK$95.6b | HK$2.7b | 9.1x | 15.5x | 0.4x |
| Sat, 18 Oct 2025 | HK$37.0b | HK$95.3b | HK$2.7b | 8.7x | 13.9x | 0.4x |
| Mon, 15 Sep 2025 | HK$42.7b | HK$94.4b | HK$1.7b | 10.8x | 24.8x | 0.5x |
| Wed, 13 Aug 2025 | HK$37.0b | HK$94.5b | HK$1.7b | 12.3x | 21.6x | 0.4x |
| Fri, 11 Jul 2025 | HK$26.9b | HK$94.9b | HK$1.7b | 8.8x | 16.1x | 0.3x |
| Sun, 08 Jun 2025 | HK$24.6b | HK$94.9b | HK$2.1b | 12.1x | 11.9x | 0.3x |
| Tue, 06 May 2025 | HK$23.0b | HK$93.3b | HK$2.0b | 11.9x | 11.3x | 0.2x |
| Thu, 03 Apr 2025 | HK$25.7b | HK$93.6b | HK$2.0b | 15.3x | 12.5x | 0.3x |
| Sat, 01 Mar 2025 | HK$25.7b | HK$89.8b | HK$2.3b | 10x | 11.2x | 0.3x |
| Mon, 27 Jan 2025 | HK$24.7b | HK$90.1b | HK$2.3b | 11.3x | 10.7x | 0.3x |
| Wed, 25 Dec 2024 | HK$25.6b | HK$89.5b | HK$2.3b | 10.2x | 11.2x | 0.3x |
| Fri, 22 Nov 2024 | HK$26.0b | HK$90.1b | HK$2.3b | 9.9x | 11.2x | 0.3x |
| Sun, 20 Oct 2024 | HK$27.9b | HK$91.3b | HK$2.3b | 11.5x | 12x | 0.3x |
| Tue, 17 Sep 2024 | HK$22.9b | HK$87.9b | HK$726.6m | 5.8x | 31.5x | 0.3x |
| Thu, 15 Aug 2024 | HK$24.1b | HK$87.5b | HK$783.9m | 5.9x | 30.8x | 0.3x |
| Sat, 13 Jul 2024 | HK$26.4b | HK$86.4b | HK$339.1m | 7.9x | 77.9x | 0.3x |
| Mon, 10 Jun 2024 | HK$27.6b | HK$86.5b | HK$313.6m | 7.5x | 88x | 0.3x |
| Wed, 08 May 2024 | HK$28.4b | HK$86.9b | HK$310.4m | 9.2x | 91.5x | 0.3x |
| Fri, 05 Apr 2024 | HK$27.0b | HK$86.3b | HK$309.7m | 5x | 87.2x | 0.3x |
| Sun, 03 Mar 2024 | HK$26.9b | HK$87.8b | -HK$224,388,806.83 | 13.8x | -119.7x | 0.3x |
| Tue, 30 Jan 2024 | HK$23.3b | HK$88.8b | -HK$2,090,741,441.00 | 12.7x | -11.1x | 0.3x |
| Thu, 28 Dec 2023 | HK$28.1b | HK$89.1b | -HK$2,102,324,372.00 | 13.9x | -13.4x | 0.3x |
| Sat, 25 Nov 2023 | HK$29.5b | HK$89.1b | -HK$2,084,225,038.00 | 185.9x | -14.2x | 0.3x |
| Mon, 23 Oct 2023 | HK$30.0b | HK$87.9b | -HK$1,980,576,200.00 | 13.5x | -15.1x | 0.3x |
| Wed, 20 Sep 2023 | HK$32.1b | HK$92.9b | -HK$383,971,626.00 | 14.6x | -83.6x | 0.3x |
| Fri, 18 Aug 2023 | HK$31.9b | HK$93.1b | -HK$396,591,574.00 | 14.9x | -80.5x | 0.3x |
| Sun, 16 Jul 2023 | HK$34.7b | HK$97.4b | HK$74.0m | 9.3x | 468.5x | 0.4x |
| Tue, 13 Jun 2023 | HK$35.2b | HK$97.9b | HK$39.7m | 10x | 886.9x | 0.4x |
| Thu, 11 May 2023 | HK$39.9b | HK$100.0b | HK$8.0m | 11.4x | 5012.8x | 0.4x |
| Sat, 08 Apr 2023 | HK$43.0b | HK$100.7b | -HK$52,023,513.00 | 14.9x | -826.2x | 0.4x |
| Mon, 06 Mar 2023 | HK$46.9b | HK$100.4b | -HK$75,331,159.00 | 16.9x | -622.1x | 0.5x |
| Wed, 01 Feb 2023 | HK$48.5b | HK$109.2b | HK$5.4b | 8.7x | 8.9x | 0.4x |
| Fri, 30 Dec 2022 | HK$48.5b | HK$106.6b | HK$5.3b | 9.1x | 9.1x | 0.5x |
| Sun, 27 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 | -3.65% | |
| Materials | -4.02% | |
| Paper and Forestry Products | 3.73% | |
| Paper Products | 3.79% | |
| Forestry Products | 0.52% | |
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$0.48 | 2.1% +HK$1.0m | 31.1% | PE2x | |
| 8191 Hong Wei (Asia) Holdings | HK$0.15 | 4.9% +HK$442.3k | -20.3% | PS0.05x |
