Nine Dragons Paper (Holdings) Limited (2689) Fair Value & Analysis
Basic Materials · HK · Market cap HK$33.0B
Fair value as of: Jul 2, 2026
From 14 valuation models · updated 3 days ago
Share price +7.9% over the past month.
Price vs Fair Value (12 months)
12‑month range HK$3.10 – HK$9.55 · fair‑value band HK$6.80 – HK$11.33 · the HK$7.04 price screens below the HK$8.99 fair value. As of Jul 2, 2026.
✦ Which stocks are undervalued right now? Check free Discover now →Analysis
Nine Dragons Paper (Holdings) Limited (2689) currently trades at HK$7.04, while our model-based Fair Value estimate is HK$8.99 — implying the stock looks roughly 27.7% undervalued today. We read business quality at 42/100 (below-average quality), in the Basic Materials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium) — always confirm before acting.
Over the trailing twelve months, Nine Dragons Paper (Holdings) Limited generated revenue of HK$67.0B at a net margin of 5.5%. Revenue grew 11.2% year over year. It earns a return on equity of 7.3%. Net debt stands at HK$66.0B. Fundamentals as of Jul 2, 2026
Our scenario range runs from HK$6.80 (bear case) to HK$11.33 (bull case); at HK$7.04, the current price sits within that range. The share trades about 29% below its 52-week high and 111% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -25% fair-value upside — at 28%, 2689 screens cheaper than that median.
Key figures & financial health
More key figures
Figures from reported company fundamentals (EODHD) · as of Jul 2, 2026. TTM = trailing twelve months.
About the company
Nine Dragons Paper (Holdings) Limited, together with its subsidiaries, manufactures and sells packaging paper, printing and writing paper, and specialty paper products and pulp in the People's Republic of China. The company offers kraft, test, white top, and coated linerboard, as well as bleached folding boxboard; corrugating medium; uncoated wood free and office paper; coated duplex board; and gypsum board cover paper. It also provides container board, kraft paper, and packaging products; corrugated sheet, cardboard, and carton box; kraft paper bag; color printing; and laminated paper products. The company was founded in 1995 and is headquartered in Dongguan, the People's Republic of China. Nine Dragons Paper (Holdings) Limited is a subsidiary of Best Result Holdings Limited.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Nine Dragons Paper (Holdings) Limited reported revenue of HK$63.2B in FY2025 versus HK$61.6B in FY2021, a compound +0.7%/yr. Reported net income was HK$2.2B in FY2025, compounding −25.7%/yr from FY2021.
Is 2689 fairly valued? → Check now
Similar stocks
10 more Paper & Paper Products stocks, each showing price versus our Fair Value estimate (as of Jul 2, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Klabin S.A KLBN11 | R$17.05 | R$12.20 | -28% |
| UPM-Kymmene Oyj UPMKF | $29.33 | $17.60 | -40% |
| Suzano S.A SUZB3 | R$41.74 | R$19.19 | -54% |
| Svenska Cellulosa Aktiebolaget SCA (publ) SCAB | kr 101.90 | kr 49.40 | -52% |
| Shandong Sunpaper Co 002078 | ¥12.75 | ¥17.29 | +36% |
| Holmen AB HLMMF | $35.72 | $28.52 | -20% |
| Mondi plc MNODF | $9.70 | $7.32 | -25% |
| Oji Holdings OJIPY | $55.39 | $61.84 | +12% |
| Empresas CMPC S.A CMPC | 1,048 CLP | 2,317 CLP | +121% |
| The Navigator Company NVG | €3.49 | €2.16 | -38% |
Explore undervalued stocks
More undervalued Basic Materials stocks →
Frequently asked questions
Is Nine Dragons Paper (Holdings) Limited (2689) undervalued?
What is the fair value of 2689?
What is the quality score of 2689?
What is the revenue of Nine Dragons Paper (Holdings) Limited (2689)?
What is the net profit margin of 2689?
How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.
Not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.