Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Director Richard Sun was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Feb 02
Nine Dragons Paper (Holdings) Limited to Report First Half, 2026 Results on Feb 25, 2026 Nine Dragons Paper (Holdings) Limited announced that they will report first half, 2026 results on Feb 25, 2026 Announcement • Jan 28
Nine Dragons Paper (Holdings) Limited Provides Group Earnings Guidance for the Six Months Ended December 31, 2025 Nine Dragons Paper (Holdings) Limited provided group earnings guidance for the six months ended December 31, 2025. For the period, the Group is expected to record a profit for the Period ranging from approximately RMB 2,150 million to RMB 2,250 million, an increase ranging from 216.0% to 230.7%, as compared to RMB 680.3 million for the Corresponding Period. The group is also expected to record a profit attributable to the equity holders of the Company ranging from approximately RMB 1,950 million to RMB 2,050 million, an increase ranging from 315.2% to 336.5%, for the Period which compared to RMB 469.6 million for the Corresponding period. Announcement • Dec 11
Nine Dragons Paper (Holdings) Limited Announces Directorate and Committee Changes Nine Dragons Paper (Holdings) Limited announced that all the ordinary resolutions proposed at the AGM were duly passed by the shareholders by way of poll. Mr. Lam Yiu Kin has retired at the AGM as an independent non-executive director, the chairman of audit committee and a member of the corporate governance committee, nomination committee and remuneration committee of the Board. Mr. Sun Po Yuen has been appointed as the chairman of audit committee and a member of each of the nomination committee, remuneration committee and corporate governance committee of the Board with effect from 11 December 2025. Announcement • Sep 24
Nine Dragons Paper (Holdings) Limited, Annual General Meeting, Dec 31, 2025 Nine Dragons Paper (Holdings) Limited, Annual General Meeting, Dec 31, 2025. Announcement • Sep 12
Nine Dragons Paper (Holdings) Limited to Report Fiscal Year 2025 Results on Sep 24, 2025 Nine Dragons Paper (Holdings) Limited announced that they will report fiscal year 2025 results on Sep 24, 2025 Announcement • Apr 08
Nine Dragons Paper (Holdings) Limited Announces Resignation of Zhang Yuanfu as Executive Director, Effective 8 April 2025 The board of directors of Nine Dragon Paper (Holdings) Limited announced that Mr. Zhang Yuanfu (‘Mr. Zhang’) has tendered his resignation as an executive Director with effect from 8 April 2025, due to age issues. Mr. Zhang will continue to serve the Group as the Chief Financial Officer. Announcement • Mar 03
Nine Dragons Paper (Holdings) Limited Appoints Dr. Cao Zhenlei as Member of the Audit Committee The board of directors of Nine Dragons Paper (Holdings) Limited announced that Dr. Cao Zhenlei, an independent non-executive director, has been appointed as a member of the audit committee of the Board with effect from 3 March 2025. Announcement • Feb 07
Nine Dragons Paper (Holdings) Limited to Report First Half, 2025 Results on Feb 27, 2025 Nine Dragons Paper (Holdings) Limited announced that they will report first half, 2025 results on Feb 27, 2025 Announcement • Dec 03
Nine Dragons Paper (Holdings) Limited Announces Directorate and Committee Changes Nine Dragons Paper (Holdings) Limited announced Mr. Ng Leung Sing has retired by rotation at the AGM in accordance with the bye-laws of the Company as an independent non-executive director, the chairman of corporate governance committee and a member of the audit committee, nomination committee and remuneration committee of the Company. He did not seek re-election at the AGM for reason of retirement. Mr. Ng confirms that there is no disagreement with the Board and there is no matter relating to his retirement that needs to be brought to the attention of the shareholders of the Company. The Board would like to express its gratitude and appreciation to Mr. Ng for his valuable contribution to the Company during his tenure of service. Following the retirement of Mr. Ng, Dr. Li Huiqun, an independent non-executive director of the Company, has been appointed as the chairlady of corporate governance committee and a member of each of the audit committee, nomination committee and remuneration committee of the Company with effect from 3 December 2024. Announcement • Oct 22
Nine Dragons Paper (Holdings) Limited, Annual General Meeting, Dec 03, 2024 Nine Dragons Paper (Holdings) Limited, Annual General Meeting, Dec 03, 2024, at 11:00 China Standard Time. Location: studio 1&2, level 7, w hong kong, 1 austin road west, kowloon station, kowloon, Hong Kong Buy Or Sell Opportunity • Oct 03
Now 28% overvalued after recent price rise Over the last 90 days, the stock has risen 41% to €0.52. The fair value is estimated to be €0.41, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 4.4% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 8.6% per annum. Earnings are also forecast to grow by 40% per annum over the same time period. Announcement • Oct 02
Nine Dragons Paper (Holdings) Limited Appoints Cao Zhenlei as Indepdendent Non-Executive Director Nine Dragons Paper (Holdings) Limited announced that Dr. Cao Zhenlei has been appointed as an indepdendent non-executive director of the Company with effect from 2 October 2024. Dr. Cao Zhenlei ("Dr. Cao"), aged 65, is a senior research scientist with more than 30 years of experience in research and management in the pulp and paper industry in the China. Dr. Cao currently serves as the director of China National Household Paper Industry Association. Dr. Cao holds a bachelor's degree from South China University of Technology with a specialization in the pulp and paper industry in 1981, a master's degree in paper making from the Light Industry Institute of Science and Technology in 1984, a Ph.D. in chemical engineering from the University of Saskatchewan in 1993 and an Executive M.B.A. from Peking University's Guanghua School of Management in 2005. Dr. Cao was an independent non-executive director of Vinda Intenational Holding Limited from August 2022 to August 2024. He also served as president of China Technical Association of Paper Industry and a director of China National Pulp and Paper Research Institute, vice president of Sinolight Corporation, vice chairman of China Paper Association and vice president of China Paper Industry Chamber of Commerce. New Risk • Sep 30
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.0x net interest cover). Share price has been highly volatile over the past 3 months (12% average weekly change). Reported Earnings • Sep 26
Full year 2024 earnings released: EPS: CN¥0.16 (vs CN¥0.51 loss in FY 2023) Full year 2024 results: EPS: CN¥0.16 (up from CN¥0.51 loss in FY 2023). Revenue: CN¥59.5b (up 4.9% from FY 2023). Net income: CN¥772.3m (up CN¥3.16b from FY 2023). Profit margin: 1.3% (up from net loss in FY 2023). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 4.5% growth forecast for the Forestry industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Announcement • Sep 04
Nine Dragons Paper (Holdings) Limited to Report Fiscal Year 2024 Final Results on Sep 25, 2024 Nine Dragons Paper (Holdings) Limited announced that they will report fiscal year 2024 final results on Sep 25, 2024 Announcement • Aug 23
Nine Dragons Paper (Holdings) Limited Provides Group Earnings Guidance for the Year Ended June 30, 2024 Nine Dragons Paper (Holdings) Limited provided group earnings guidance for the year ended June 30, 2024. For the period, the group is expected to record a profit attributable to equity holders of the Company ranging from approximately RMB 700 million to RMB 800 million for the year ended 30 June 2024 as compared to the loss attributable to the equity holders of the Company approximately RMB 2,383.4 million to the year ended 30 June 2023. The profit attributable to equity holders of the Company mainly attributable to the increase in sales volume and an increase of gross profit margin of the Group for the Year. Announcement • Feb 29
Nine Dragons Paper (Holdings) Limited Appoints Zhang Lianru as Executive Director Nine Dragons Paper (Holdings) Limited The board of directors of Nine Dragon Paper (Holdings) Limited announced that Ms. Zhang Lianru, has been appointed as an executive director of the Company with effect from 1 March 2024. Ms. Zhang, aged 26, joined the Group as an Assistant Financial Controller in 2020 and has served as the Group's Deputy Chief Financial Officer in charge of financial management and internal control operation since January 2022. She graduated from Columbia University with a Bachelor of Financial Economics Degree. Ms. Zhang has not hold any directorship in listed public companies in the last three years. Ms. Zhang is the daughter of Mr. Zhang Cheng Fei, the younger sister of Mr. Zhang Lianpeng, the niece of Ms. Cheung Yan and Mr. Liu Ming Chung and the cousin of Mr. Lau Chun Shun and Mr. Ken Liu. Reported Earnings • Feb 28
First half 2024 earnings released: EPS: CN¥0.062 (vs CN¥0.30 loss in 1H 2023) First half 2024 results: EPS: CN¥0.062 (up from CN¥0.30 loss in 1H 2023). Revenue: CN¥30.6b (down 1.9% from 1H 2023). Net income: CN¥292.4m (up CN¥1.68b from 1H 2023). Profit margin: 1.0% (up from net loss in 1H 2023). The move to profitability was driven by lower expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Forestry industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Announcement • Feb 07
Nine Dragons Paper (Holdings) Limited to Report First Half, 2024 Results on Feb 27, 2024 Nine Dragons Paper (Holdings) Limited announced that they will report first half, 2024 results on Feb 27, 2024 Announcement • Jan 29
Nine Dragons Paper (Holdings) Limited Provides Group Earnings Guidance for the Six Months Ended 31 December 2023 Nine Dragons Paper (Holdings) Limited provided group earnings guidance for the six months ended 31 December 2023. For the period, company expects to record a profit attributable to equity holders of the Company ranging from approximately RMB 200 million to RMB 400 million as compared to the loss attributable to the equity holders of the Company of RMB 1,388.8 million to the six months ended 31 December 2022 (the "Corresponding Period"). Announcement • Dec 11
Nine Dragons Paper (Holdings) Limited Announces Retiremnt of Chen Kefu as Independent Non-Executive Director Nine Dragons Paper (Holdings) Limited announced that Mr. Chen Kefu, an independent non-executive director of the Company, retired at the AGM. New Risk • Nov 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Minor Risk Share price has been volatile over the past 3 months (6.6% average weekly change). Reported Earnings • Oct 27
Full year 2023 earnings released: CN¥0.51 loss per share (vs CN¥0.70 profit in FY 2022) Full year 2023 results: CN¥0.51 loss per share (down from CN¥0.70 profit in FY 2022). Revenue: CN¥56.7b (down 12% from FY 2022). Net loss: CN¥2.38b (down 173% from profit in FY 2022). Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 1.4% growth forecast for the Forestry industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 41 percentage points per year, which is a significant difference in performance. Announcement • Oct 26
Nine Dragons Paper (Holdings) Limited, Annual General Meeting, Dec 11, 2023 Nine Dragons Paper (Holdings) Limited, Annual General Meeting, Dec 11, 2023, at 11:00 China Standard Time. Location: Studio 1&2, Level 7, W Hong Kong, 1 Austin Road West, Kowloon Station, Kowloon Kowloon Hong Kong Agenda: To consider and adopt the Audited Financial Statements and the Reports of the Directors and Independent Auditor for the year ended 30th June, 2023; to consider re-elect Ms. Cheung Yan as an executive director of the Company; to consider re-appoint Messrs. PricewaterhouseCoopers as Auditor and to authorise the Board of Directors to fix its remuneration; and to consider other matters. Announcement • Sep 26
Nine Dragons Paper (Holdings) Limited Recommends No Dividend Payment for the Year Ended 30 June 2023 The Board of Nine Dragons Paper (Holdings) Limited does not recommend the payment of a final dividend for the year ended 30 June 2023 (year ended 30 June 2022: RMB 2.0 cents per ordinary share). Announcement • Sep 07
Nine Dragons Paper (Holdings) Limited to Report Fiscal Year 2023 Final Results on Sep 25, 2023 Nine Dragons Paper (Holdings) Limited announced that they will report fiscal year 2023 final results on Sep 25, 2023 Announcement • Sep 02
Nine Dragons Paper (Holdings) Limited Provides Earnings Guidance for the Year Ended June 30, 2023 Nine Dragons Paper (Holdings) Limited provided earnings guidance for the year ended June 30, 2023. The group is expected to record a loss attributable to equity holders of the company ranging from approximately RMB 2,200.0 million to RMB 2,600.0 million for the year ended 30 June 2023 as compared to the profit attributable to the equity holders of the Company of approximately RMB 3,275.4 million for the year ended 30 June 2022. The loss attributable to equity holders of the Company is mainly due to the decrease in the selling price of the products and the substantial decrease of gross profit margin during the Year. Sales volume remained relatively stable for the Year. New Risk • Jun 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (5.0% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (11% average weekly change). Reported Earnings • Feb 23
First half 2023 earnings released: CN¥0.30 loss per share (vs CN¥0.59 profit in 1H 2022) First half 2023 results: CN¥0.30 loss per share (down from CN¥0.59 profit in 1H 2022). Revenue: CN¥31.2b (down 9.5% from 1H 2022). Net loss: CN¥1.39b (down 150% from profit in 1H 2022). Revenue is forecast to grow 11% p.a. on average during the next 3 years, while revenues in the Forestry industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Announcement • Feb 09
Nine Dragons Paper (Holdings) Limited to Report First Half, 2023 Results on Feb 22, 2023 Nine Dragons Paper (Holdings) Limited announced that they will report first half, 2023 results on Feb 22, 2023 Announcement • Feb 07
Nine Dragons Paper (Holdings) Limited Announces Board Appointments The Board of Nine Dragons Paper (Holdings) Limited announced that Dr. Li Huiqun and Ms. Chan Man Ki Maggie have been appointed as indepdendent non-executive directors of the Company with effect from 6 February 2023. Dr. LI Huiqun, aged 56, obtained a bachelor's degree in economics, a master's degree in economics and a doctorate degree in economics from the School of Economics of Wuhan University, Hubei Province, China in 1988, 1991 and 1994, respectively. Dr. Li obtained the title of senior economist. She has extensive experience in the banking and financial markets sector. From April 1994 to October 2015, she served as head of several divisions and on vice-president level positions in the Shenzhen Central Branch of the People's Bank of China, in charge of the Money and Credit Division, the Financial Research Office, the Bullion Management Division, labour union work and management of human resources. From November 2015 to June 2021, she has been the vice president of Shenzhen Rural Commercial Bank in charge of asset management, financial market and interbank business, international business and management of the Qianhai branch. Dr. Li is also an independent non-executive director of Zensun Enterprises Limited She does not have any relationship with any other Director, senior management, substantial shareholder or controlling shareholder of the Company. Ms. CHAN Man Ki Maggie, MH, JP, aged 54, obtained her Bachelor degree in Laws and Postgraduate Certificate in Laws from the University of Hong Kong in 1991 and 1992 respectively. She is the founder and managing partner of CMK lawyers, a law firm in Hong Kong, and has over 27 years of experience in providing legal advices and services as a solicitor in Hong Kong. Ms. Chan is also a lawyer in the Guangdong-Hong Kong-Macao Greater Bay Area and her practice institution is Sino-Win Law Firm in Guangdong. Ms. Chan is an Accredited Mediator and a China-Appointed Attesting Officer in Hong Kong. She is also the founding president of The Small and Medium Law Firms Association of Hong Kong. Furthermore, Ms. Chan is a Specially Invited Mediator of Guangdong Court for Cross-border Commercial Dispute Resolution in the Guangdong-Hong Kong-Macao Greater Bay Area, a Mediator of Shenzhen Qianhai International Commercial Mediation Centre, and an Arbitrator of China Guangzhou Arbitration Commission, Shenzhen Court of International Arbitration, Qingdao Arbitration Commission and South China International Arbitration Centre (Hong Kong). Ms. Chan has also undertaken various community positions in Hong Kong including being an Ex-officio Member of Election Committee and Chairman of Appeal Tribunal Panel (Building Ordinance). She was awarded the Medal of Honor in 2012 and Justice of the Peace in 2015 by the Government of the Hong Kong Special Administrative Region. Ms. Chan was also conferred with Honorary Fellow by City University of Hong Kong in 2013. Ms. Chan was elected as a Hong Kong Deputy to the 13th and 14th National People's Congress of The People's Republic of China in 2017 and 2022. She was elected as a Hong Kong Deputy to the National People's Congress of the PRC (the 13th session) in 2017, an executive member of the All-China Women's Federation Executive Committee in 2018, a president of All-China Women's Federation Hong Kong Delegates Association Ltd. in 2021 and a Legislative Council Member of the Hong Kong Special Administrative Region in 2022. Ms. Chan is also an independent non-executive director of Beijing Enterprises Holdings Limited, Wine's Link International Holdings Limited and China State Construction Development Holdings Limited. She does not have any relationship with any other Director, senior management, substantial shareholder or controlling shareholder of the Company. Announcement • Feb 04
Nine Dragons Paper (Holdings) Limited Provides Earnings Guidance for the Six Months Ended December 31, 2022 Nine Dragons Paper (Holdings) Limited provided earnings guidance for the six months ended December 31, 2022. The group is expected to record a loss attributable to equity holders of the company ranging from approximately RMB 1,250.0 million to RMB 1,450.0 million for the six months ended 31 December 2022 (the "Period") as compared to the profit attributable to the equity holders of the Company approximately RMB 2,774.7 million to the six months ended 31 December 2021. Upcoming Dividend • Dec 02
Upcoming dividend of CN¥0.02 per share Eligible shareholders must have bought the stock before 09 December 2022. Payment date: 20 January 2023. Payout ratio is a comfortable 14% but the company is not cash flow positive. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (4.1%). Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 7 highly experienced directors. 4 independent directors (7 non-independent directors). Independent Non-Executive Director Kefu Chen was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 29
Full year 2022 earnings released: EPS: CN¥0.70 (vs CN¥1.51 in FY 2021) Full year 2022 results: EPS: CN¥0.70 (down from CN¥1.51 in FY 2021). Revenue: CN¥64.5b (up 4.8% from FY 2021). Net income: CN¥3.28b (down 54% from FY 2021). Profit margin: 5.1% (down from 12% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, while revenues in the Forestry industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Oct 28
Nine Dragons Paper (Holdings) Limited, Annual General Meeting, Dec 06, 2022 Nine Dragons Paper (Holdings) Limited, Annual General Meeting, Dec 06, 2022, at 11:00 China Standard Time. Location: Studio 1&2, Level 7, W Hong Kong, 1 Austin Road West Kowloon Hong Kong Agenda: To receive and consider the audited financial statements and the reports of the directors and independent auditor for the year ended 30 June 2022; to declare the Final Dividend to be paid out of the Contributed Surplus Account of the Company for the year ended 30 June 2022; to re-elect Mr. Zhang Cheng Fei as an executive director of the Company; to re-elect Mr. Lau Chun Shun as an executive director of the Company; and to consider such other business issues. Reported Earnings • Sep 28
Full year 2022 earnings released: EPS: CN¥0.70 (vs CN¥1.51 in FY 2021) Full year 2022 results: EPS: CN¥0.70 (down from CN¥1.51 in FY 2021). Revenue: CN¥64.5b (up 4.8% from FY 2021). Net income: CN¥3.28b (down 54% from FY 2021). Profit margin: 5.1% (down from 12% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, while revenues in the Forestry industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Sep 28
Nine Dragons Paper (Holdings) Limited Announces Final Ordinary Dividend for the Year Ended June 30, 2022 Nine Dragons Paper (Holdings) Limited announced final ordinary dividend of RMB 0.02 per share for the year ended June 30, 2022. Announcement • Sep 08
Nine Dragons Paper (Holdings) Limited to Report Fiscal Year 2022 Results on Sep 27, 2022 Nine Dragons Paper (Holdings) Limited announced that they will report fiscal year 2022 results on Sep 27, 2022 Announcement • Aug 27
Nine Dragons Paper (Holdings) Limited Provides Earnings Guidance for the Six Months Ended 30 June 2022 Nine Dragons Paper (Holdings) Limited provides earnings guidance for the six months ended 30 June 2022. The company announced that if the exchange gains on operating and financing activities (net of tax) were excluded, the profit attributable to equity holders of the Company for the year ended 30 June 2022 (the "Year") is expected to decrease not more than 60% as compared to the year ended 30 June 2021 (the "Last Year"). The decrease was mainly due to the increase in the selling price of the products was much slower than the increase in the cost of raw materials with sales volume remained relatively stable amid the COVID-19 pandemic. Upcoming Dividend • Jun 09
Upcoming dividend of CN¥0.08 per share Eligible shareholders must have bought the stock before 16 June 2022. Payment date: 08 July 2022. Payout ratio is a comfortable 33% but the company is not cash flow positive. Trailing yield: 6.7%. Within top quartile of German dividend payers (4.2%). Higher than average of industry peers (3.2%). Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 7 highly experienced directors. 4 independent directors (7 non-independent directors). Independent Non-Executive Director Kefu Chen was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Feb 24
First half 2022 earnings: EPS in line with analyst expectations despite revenue beat First half 2022 results: EPS: CN¥0.59 (down from CN¥0.85 in 1H 2021). Revenue: CN¥34.5b (up 12% from 1H 2021). Net income: CN¥2.77b (down 31% from 1H 2021). Profit margin: 8.0% (down from 13% in 1H 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.9%. Over the next year, revenue is forecast to grow 8.0%, compared to a 4.3% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Feb 24
Nine Dragons Paper (Holdings) Limited Declares Interim Dividend for the Period Ended 31 December 2021, Payable on July 8, 2022 Nine Dragons Paper (Holdings) Limited has declared and approved an interim dividend of 8.00 RMB cents per share for the period ended 31 December 2021, which is expected to be paid to the shareholders on July 8, 2022. Record date is 20 June 2022. Ex-dividend date is 16 June 2022. Announcement • Feb 09
Nine Dragons Paper (Holdings) Limited to Report First Half, 2022 Results on Feb 22, 2022 Nine Dragons Paper (Holdings) Limited announced that they will report first half, 2022 results on Feb 22, 2022 Announcement • Jan 30
Nine Dragons Paper (Holdings) Limited Provides Group Earnings Guidance for the Six Months Ended 31 December 2021 The Board of Nine Dragons Paper (Holdings) Limited informed the shareholders of the Company and potential investors that, based on the preliminary review of the management accounts of the Group, if the exchange gains on operating and financing activities (net of tax) were excluded, the profit attributable to equity holders of the Company for the Period is expected to decrease not more than 35% as compared to the Corresponding Period. The decrease was mainly due to the increase in the selling price of the products was much slower than the increase in the cost of raw materials with sales volume remained relatively stable amid the COVID-19 pandemic. The profit attributable to equity holders of the Company for the Corresponding Period was RMB 3,912.6 million if the exchange gains on operating and financing activities (net of tax) amounted to RMB 89.4 million were excluded. Upcoming Dividend • Dec 06
Upcoming dividend of HK$0.40 per share Eligible shareholders must have bought the stock before 13 December 2021. Payment date: 21 January 2022. Trailing yield: 5.8%. Within top quartile of German dividend payers (3.4%). Higher than average of industry peers (2.8%). Reported Earnings • Oct 29
Full year 2021 earnings released: EPS CN¥1.51 (vs CN¥0.89 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: CN¥61.6b (up 20% from FY 2020). Net income: CN¥7.10b (up 70% from FY 2020). Profit margin: 12% (up from 8.1% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Reported Earnings • Sep 28
Full year 2021 earnings released: EPS CN¥1.51 (vs CN¥0.89 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: CN¥61.6b (up 20% from FY 2020). Net income: CN¥7.10b (up 70% from FY 2020). Profit margin: 12% (up from 8.1% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥1.27, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 17x in the Forestry industry in Europe. Total returns to shareholders of 53% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €1.30 per share. Upcoming Dividend • Jun 10
Upcoming dividend of CN¥0.10 per share Eligible shareholders must have bought the stock before 17 June 2021. Payment date: 09 July 2021. Trailing yield: 3.6%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (2.8%). Valuation Update With 7 Day Price Move • May 10
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥1.29, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 16x in the Forestry industry in Europe. Total returns to shareholders of 4.3% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €1.37 per share. Reported Earnings • Mar 23
First half 2021 earnings released: EPS CN¥0.85 (vs CN¥0.49 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: CN¥30.9b (up 7.1% from 1H 2020). Net income: CN¥4.00b (up 76% from 1H 2020). Profit margin: 13% (up from 7.9% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥1.22, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 17x in the Forestry industry in Europe. Total returns to shareholders of 19% over the past three years. Valuation Update With 7 Day Price Move • Mar 01
Investor sentiment deteriorated over the past week After last week's 19% share price decline to CN¥1.32, the stock is trading at a trailing P/E ratio of 8.9x, down from the previous P/E ratio of 11x. This compares to an average P/E of 19x in the Forestry industry in Europe. Total returns to shareholders over the past three years are 13%. Reported Earnings • Feb 23
First half 2021 earnings released: EPS CN¥0.85 (vs CN¥0.49 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: CN¥30.9b (up 7.1% from 1H 2020). Net income: CN¥4.00b (up 76% from 1H 2020). Profit margin: 13% (up from 7.9% in 1H 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Feb 23
Revenue beats expectations Revenue exceeded analyst estimates by 2.1%. Over the next year, revenue is forecast to grow 19% while theForestry industry in Germany is not expected to grow. Announcement • Feb 06
Nine Dragons Paper (Holdings) Limited to Report First Half, 2021 Results on Feb 22, 2021 Nine Dragons Paper (Holdings) Limited announced that they will report first half, 2021 results on Feb 22, 2021 Is New 90 Day High Low • Feb 03
New 90-day high: €1.35 The company is up 12% from its price of €1.21 on 04 November 2020. The German market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Forestry industry, which is up 19% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.99 per share. Is New 90 Day High Low • Jan 14
New 90-day high: €1.27 The company is up 19% from its price of €1.07 on 16 October 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Forestry industry, which is up 20% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.01 per share. Upcoming Dividend • Dec 07
Upcoming Dividend of CN¥0.22 Per Share Will be paid on the 15th of January to those who are registered shareholders by the 14th of December. The trailing yield of 3.9% is in the top quartile of German dividend payers (3.6%), and it is higher than industry peers (3.3%). Recent Insider Transactions • Nov 14
Group CFO & Executive Director recently sold €662k worth of stock On the 9th of November, Yuanfu Zhang sold around 520k shares on-market at roughly €1.27 per share. This was the largest sale by an insider in the last 3 months. Despite the recent sale, Yuanfu has been a buyer over the last 12 months, purchasing a net total of €857k worth of shares. Is New 90 Day High Low • Nov 04
New 90-day high: €1.19 The company is up 34% from its price of €0.89 on 06 August 2020. The German market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Forestry industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.66 per share. Reported Earnings • Oct 24
Full year earnings released - EPS €0.89 Over the last 12 months the company has reported total profits of CN¥4.17b, down 7.5% from the prior year. Total revenue was CN¥51.3b over the last 12 months, down 6.8% from the prior year. Profit margins were 8.1%, which is in line with last year. Analyst Estimate Surprise Post Earnings • Oct 24
Annual earnings released: Revenue misses expectations Annual revenue missed analyst estimates by 4.3% at CN¥51.3b. Revenue is forecast to grow 15% over the next year, compared to a 3.2% decline forecast for the Forestry industry in Germany. Is New 90 Day High Low • Sep 24
New 90-day high: €1.18 The company is up 48% from its price of €0.80 on 26 June 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Forestry industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €1.30 per share. Reported Earnings • Sep 23
Full year earnings released - EPS €0.89 Over the last 12 months the company has reported total profits of CN¥4.17b, up 8.0% from the prior year. Total revenue was CN¥51.3b over the last 12 months, down 6.0% from the prior year. Profit margins were 8.1%, which is higher than the 7.1% margin from last year. The increase in margin was driven by lower expenses. Announcement • Sep 01
Nine Dragons Paper (Holdings) Limited to Report Fiscal Year 2020 Results on Sep 22, 2020 Nine Dragons Paper (Holdings) Limited announced that they will report fiscal year 2020 results on Sep 22, 2020 
