to equity holders of the Company in

to equity holders of the Company increased by 9.9%
Nine Dragons Paper (Holdings) Limited Announces FY2013 Annual Results
Significant result in realization of cost reduction and efficiency enhancement
Sales achieved historical high.Financial Highlights Sales increased by 5.8% to approximately RMB 28.7 billion.Gross profit increased by 6.2% to approximately RMB 4.6 billion.Profit attributable to equity holders of the Company increased by 9.9% to approximately
RMB 1.6 billion. Proposed final dividend per share of RMB 8.0 cents (equivalent to approximately HK$ 10.1cents) ระจำปี FY2013 ผลการประกาศโดย NDP กับ
การลดต้นทุนและเพิ่มประสิทธิภาพการขายที่ประสบความสำเร็จ
ประวัติศาสตร์สูงขายไฮไลท์ที่เพิ่มขึ้น 5.8% ทางการเงินเกี่ยวกับหยวน 28,700,000 อัตรากำไรขั้นต้น เพิ่มขึ้น 6.2 เกี่ยวกับหยวน 4600000000 กำไรจากผู้ถือหุ้นของ บริษัท ฯ เพิ่มขึ้น 9. 9
% เกี่ยวกับหยวน 1600000000 เสนอจ่ายเงินปันผลต่อหุ้นของ RMB 8.0 เซนต์ (เทียบเท่าประมาณเหรียญฮ่องกง 10.1cents)


The FY2013 annual results announcement by NDP with
reducing the cost and enhance the successful sale
history high, sell highlights increased financial 5.8% about RMB 28.7 million, gross margin increased 6.2 about RMB 4.6 billion, profits from the shareholders of the company increased 9. 9
%. About RMB 1.6 billion. The proposed final dividend per share of RMB 8.0 St. (the equivalent of about $HK 10.1cents)
NDPจำกัดประกาศผลประจำปีผล
FY2013 ) การลดต้นทุนและการเพิ่มประสิทธิภาพประสบความสำเร็จขาย
ประวัติศาสตร์สูง ขายไฮไลท์ทางการเงินเพิ่มขึ้น 5.8% ประมาณ RMB 28.7 ล้านบาท กำไรขั้นต้นเพิ่มขึ้นร้อยละ 6.2 ประมาณ RMB 4.6 พันล้าน กำไรจากผู้ถือหุ้นของ บริษัท เพิ่มขึ้น 9 .9
% ประมาณ RMB 1.6 พันล้าน สุดท้ายที่เสนอเงินปันผลต่อหุ้นของ RMB 8.0 เซนต์ ( เทียบเท่าประมาณ HK $ 10.1cents )
กระดาษเก้ามังกร (โฮลดิ้ง) จำกัด ประกาศผลประจำปี FY2013
ผลสำคัญในการก่อให้เกิดการลดค่าใช้จ่ายและมีประสิทธิภาพเพิ่มประสิทธิภาพ
การขายที่ประสบความสำเร็จจากการขายไฮไลท์ high.Financial ประวัติศาสตร์เพิ่มขึ้น 5.8% มาอยู่ที่ประมาณ 28.7 หยวนกำไร billion.Gross เพิ่มขึ้น 6.2% มาอยู่ที่ประมาณ RMB 4600000000 .Profit ส่วนของผู้ถือหุ้นของ บริษัท ฯ เพิ่มขึ้นจาก 9.9% มาอยู่ที่ประมาณ
1.6 พันหยวน เสนอจ่ายเงินปันผลต่อหุ้นของ RMB 8.0 เซนต์ (เทียบเท่าประมาณ HK $ 10.1


Analysts are speaking out in support of paper company Nine Dragons Paper (Holdings) Ltd. after its shares plunged in Hong Kong on Tuesday following a withdrawal of its credit rating by Standard & Poor’s.

The stock was suspended after falling 17.5%, following S&P’s withdrawal of its long-term corporate credit rating citing “insufficient access” to management. The street, however, seems to think investors have overreacted.

According to Dow Jones Market Talk, Morgan Stanley believes Nine Dragons’ share price will rise over the next 60 days after further clarification from management which will ease investors concerns over the company’s financials.

DBS Vickers upgraded the stock to “buy” from “hold” and said S&P’s reason for the withdrawal was unconvincing as management held a call with analysts Tuesday afternoon, according to Dow Jones Market Talk.

Charlene Gu, an analyst at Yuanta Securities in Hong Kong, also called the sell-off an overreaction, particularly as S&P is a highly regarded firm so “people want to dump the stock just to be safe.” She called S&P’s decision “unprofessional.”

Hong Kong shareholder activist David Webb has also criticized S&P’s move. In a comment published on his website on Tuesday, Mr. Webb said the Securities and Futures Commission should prohibit credit agencies from releasing announcements on listed companies during trading hours..

“Unlike external research houses, (credit rating agencies) have a special relationship with debt issuers, because they are given privileged access to information in order to produce credit ratings which are paid for by the company under contract,” said Mr. Webb. He said “even a withdrawal of ratings can indicate a breakdown in a key relationship, rather like the resignation of an auditor,” which could represent the publication of price-sensitive information.

Nine Dragons resumes trading on Wednesday afternoon in Hong Kong. Its peer Lee & Man Paper Manufacturing Ltd. is up 1.6% after falling 3% on Tuesday.





Hong Kong-listed Nine Dragons Paper is making a second attempt to get rid of its senior bonds which have become more expensive for the company following a ratings downgrade by Stand & Poor's in December last year. The chinese paper board manufacturer yesterday launched a tender offer through Deutsche Bank for the entire $118.6 million that remains outstanding of its 7.875% bonds due 2013, offering to pay the principle back in full to bondholders to tender before the early deadline on July 22.
Although the analysts are constantly updating their forecasts on NDP’s current year financial results, the company still appears to be marginally profitable in this difficult business environment.
But profitability is a concept which focuses more on the corporate income statement, not cash flows. And NDP’s cash flows are under a lot of pressure given the fall in expected operating cash flow combined with Mrs. Cheung’s pronounced commitment to continue to expand capital expenditure rapidly. The result is that it appears the company will need to borrow even more to survive the year.
Existing shareholders are clearly down, and would like to see the company take measures to improve share price sooner rather than later. They are, however, minority shareholders, Mrs. Cheung and family holding more than 70% of the firm.
Potential investors might see the company has a “good bet,” given the current share price low and the prospects for long-term competitiveness – if the company survives to be a player in the long run!

Results (English) 1:

to equity holders of the Company increased by 9.9%Nine Dragons Paper (Holdings) Limited Announces FY2013 Annual ResultsSignificant result in realization of cost reduction and efficiency enhancementSales achieved historical high.Financial Highlights Sales increased by 5.8% to approximately RMB 28.7 billion.Gross profit increased by 6.2% to approximately RMB 4.6 billion.Profit attributable to equity holders of the Company increased by 9.9% to approximatelyRMB 1.6 billion per share Proposed final dividend. of RMB 8.0 cents (equivalent to approximately HK $ 10.1 cents) between the Hill and the results published by the NDP FY2013.To reduce the cost and increase the efficiency of sales success.History of sales increasing highlights high 5.8% financial 28700000 Yuan, gross profit margin increased to 6.2 Yuan, about 4600000000 profit from the company's shareholders ' equity increased by 9.9. % About the Yuan 1600000000 proposed a dividend per share of 8.0 cents RMB (equivalent to approximately HK $ 10.1 cents) The FY2013 annual results announcement by NDP with reducing the cost and enhance the successful sale history high, sell highlights increased financial 5.8% about RMB 28.7 million, gross margin increased 6.2 about RMB 4.6 billion, profits from the shareholders of the company increased 9. 9 %. About RMB 1.6 billion. The proposed final dividend per share of RMB 8.0 St. (the equivalent of about $HK 10.1cents) NDP annual result announcement limited results. FY2013) to reduce costs and optimize sales success. History of high financial highlights sales increased 5.8% to approximately RMB 28.7 million. Gross margin increased to 6.2 per cent of approximately RMB 4.6 billion. Profit from the company's shareholders ' equity increased .9 9. % Of approximately RMB 1.6 billion The proposed final dividend per share of 8.0 cents RMB (equivalent of approximately HK $ 10.1 cents) Nine dragons paper (Holdings) Limited Announces annual results for FY2013. An important effect in the cause to reduce expenses and improve efficiency.Successful sales from the sale of the highlights in the history of the high.Financial increased by 5.8% to approximately 28.7 Yuan gains increased 6.2% billion.Gross to approximately RMB 4600000000 .Profit shareholders ' equity of the company increased from 9.9% to approx.1.6 billion yuan. Proposed dividend per share of 8.0 cents RMB (equivalent of approximately HK $ 10.1. Analysts are speaking out in support of paper company Nine Dragons Paper (Holdings) Ltd. after its shares plunged in Hong Kong on Tuesday following a withdrawal of its credit rating by Standard & Poor's.The stock was suspended after falling 17.5%, following S&P's withdrawal of its long-term corporate credit rating citing "insufficient access" to management. The street, however, seems to think investors have overreacted.According to Dow Jones Market Talk, Morgan Stanley believes Nine Dragons' share price will rise over the next 60 days after further clarification from management which will ease investors concerns over the company's financials.DBS Vickers upgraded the stock to "buy" from "hold" and said S&P's reason for the withdrawal was unconvincing as management held a call with analysts Tuesday afternoon, according to Dow Jones Market Talk.Charlene Gu, an analyst at Yuanta Securities in Hong Kong, also called the sell-off an overreaction, particularly as S&P is a highly regarded firm so "people want to dump the stock just to be safe." She called S&P's decision "unprofessional."Hong Kong shareholder activist David Webb has also criticized S&P's move. In a comment published on his website on Tuesday, Mr. Webb said the Securities and Futures Commission should prohibit credit agencies from releasing announcements on listed companies during trading hours.."Unlike external research houses, (credit rating agencies) have a special relationship with debt issuers, because they are given privileged access to information in order to produce credit ratings which are paid for by the company under contract," said Mr. Webb. He said "even a withdrawal of ratings can indicate a breakdown in a key relationship, rather like the resignation of an auditor," which could represent the publication of price-sensitive information.Nine Dragons resumes trading on Wednesday afternoon in Hong Kong. Its peer Lee & Man Paper Manufacturing Ltd. is up 1.6% after falling 3% on Tuesday.Hong Kong-listed Nine Dragons Paper is making a second attempt to get rid of its senior bonds which have become more expensive for the company following a ratings downgrade by Stand & Poor's in December last year. The chinese paper board manufacturer yesterday launched a tender offer through Deutsche Bank for the entire $118.6 million that remains outstanding of its 7.875% bonds due 2013, offering to pay the principle back in full to bondholders to tender before the early deadline on July 22.Although the analysts are constantly updating their forecasts on NDP's current year financial results, the company still appears to be marginally profitable in this difficult business environment.But profitability is a concept which focuses more on the corporate income statement, not cash flows. And NDP's cash flows are under a lot of pressure given the fall in expected operating cash flow combined with Mrs. Cheung's pronounced commitment to continue to expand capital expenditure rapidly. The result is that it appears the company will need to borrow even more to survive the year.Existing shareholders are clearly down, and would like to see the company take measures to improve share price sooner rather than later. They are, however, minority shareholders, Mrs. Cheung and family holding more than 70% of the firm.Potential investors might see the company has a "good bet," given the current share price low and the prospects for long-term competitiveness – if the company survives to be a player in the long run!

Results (English) 2:

to Equity Holders of The Company increased by 9.9%
Nine Dragons Paper (Holdings) Limited Announces FY2013 Annual Results
Result in Significant Cost Reduction and realization of efficiency enhancement
achieved historical Sales Sales increased by 5.8% Highlights High.Financial to approximately RMB 28.7 Billion.Gross. profit increased by 6.2% to approximately RMB 4.6 Billion.Profit attributable to Equity Holders of The Company increased by 9.9% to approximately
RMB 1.6 billion. Proposed Final dividend of RMB 8.0 cents Per share (Equivalent to approximately HK $ 10.1cents) the annual FY2013. Results announced by the NDP to
reduce costs and increase productivity, successful
history of high sales, highlights the increased 5.8% financing with RMB 28,700,000 gross margin increased by 6.2 on the yuan 4600000000 gains for shareholders. 9. The Company's shares rose 9
% to about 1.6 billion yuan to pay a dividend of RMB 8.0 cents (equivalent to approximately HK. 10.1cents) The FY2013 Annual results announcement by NDP with reducing ENHANCE The Successful sale The Cost and High history, sell Financial Highlights increased 5.8% About RMB 28.7 million, gross margin increased 6.2 About RMB 4.6 billion, profits from The shareholders of The Company increased. 9. 9 %. About RMB 1.6 billion. The proposed Final dividend of RMB 8.0 Per share St. (The Equivalent of 10.1cents About $ HK) Limited NDP announcement of annual results FY2013) to reduce costs and optimize success. Sales History High Financial highlights sales increased 5.8% to approximately RMB 28.7 million baht profit margin increased 6.2 percent to approximately RMB 4.6 billion profit from the company's shares rose 9 0.9 % to approximately RMB 1.6 billion proposed final dividend. per share of RMB 8.0 cents (equivalent to approximately HK $ 10.1cents) Nine Dragons Paper (Holdings) Ltd. announced the annual results. FY2013 results in the realization of cost reduction and efficiency optimization for successful sales highlights. high.Financial Historical rose 5.8% to about 28.7 yuan billion.Gross profit rose 6.2% to about RMB 4600000000 .Profit equity shares of the Company was increased from 9.9% to about 1.6 billion yuan in dividends. per share of RMB 8.0 cents (equivalent to approximately HK $ 10.1 Analysts are Speaking out in support of Nine Dragons Paper Company Paper (Holdings) Ltd. in Hong Kong After ITS shares plunged on Tuesday following a withdrawal of Credit Rating by Standard & Poor's ITS. The Stock was Suspended After Falling 17.5%, following S & P's withdrawal of ITS long-term Corporate Credit Rating citing "insufficient Access" to Management. The Street, however, seems to Think Investors Have overreacted. According to Dow Jones Market Talk, Morgan Stanley believes. Nine Dragons' share Price Will Rise over The next 60 days After Further Clarification from Management which Will Ease Investors Concerns over The Company's financials. DBS Vickers upgraded The Stock to "Buy" from "Hold" and said S & P's Reason for The withdrawal was unconvincing As. Management Held a call with analysts Tuesday Afternoon, according to Dow Jones Market Talk. Charlene Gu, an analyst at Yuanta Securities in Hong Kong, also Called The sell-off an overreaction, particularly As S & P is a highly regarded Firm So "People Want to. Dump The Stock Just to be Safe. "She Called S & P's decision" unprofessional. " Hong Kong Shareholder activist David Webb has also criticized S & P's move. In a comment Published on His Website on Tuesday, Mr. Webb said The Securities and Futures Commission should prohibit. Releasing on announcements from Credit Agencies Listed companies during Trading hours .. "Unlike external Research houses, (Credit Rating Agencies) Have a Special Relationship with debt issuers, Because they are privileged Given Access to information in Order to Produce Credit ratings which are paid for. by The Company under contract, "said Mr. Webb. He said" Even a withdrawal of ratings Can indicate a breakdown in a Key Relationship, Rather like The resignation of an Auditor, "which could represent The publication of Price-sensitive information. Nine. Dragons Resumes Trading on Wednesday Afternoon in Hong Kong. Its peer Lee & Man Paper Manufacturing Ltd. is up 1.6% After Falling 3% on Tuesday. Hong Kong-Listed Nine Dragons Paper is Making a Second attempt to Get RID of ITS which senior Bonds. have become more expensive for the company following a ratings downgrade by Stand & Poor's in December last year. The chinese paper board manufacturer yesterday launched a tender offer through Deutsche Bank for the entire $ 118.6 million that remains outstanding of its 7.875% bonds due 2013, offering. to pay The principle back in full to Bondholders to tender Before The Early Deadline on July 22. Although The analysts are constantly updating their forecasts on NDP's current year Financial results, The Company Still appears to be marginally Profitable in this Difficult business Environment. But profitability. is a concept which focuses more on the corporate income statement, not cash flows. And NDP's cash flows are under a lot of pressure given the fall in expected operating cash flow combined with Mrs. Cheung's pronounced commitment to continue to expand capital expenditure rapidly. The. Result is that it appears The Company Will Need to borrow Even more to Survive The year. Existing shareholders are clearly down, and would like to See The Company Take Measures to Improve share Price Sooner Rather than later. They are, however, Minority shareholders,. Mrs. Cheung and Family Holding more than 70% of The Firm. Potential Investors Might See The Company has a "good Bet," Given The current share Price Low and The prospects for long-term competitiveness - IF The Company survives to be a Player. in the long run!

Results (English) 3:

To equity holders of the Company increased by 9.9%
Nine Dragons Paper (Holdings) Limited Announces FY2013 Annual Results
Significant. Result in realization of cost reduction and efficiency enhancement
Sales achieved historical high.Financial Highlights Sales. Increased by 5.8% to approximately RMB 28.7 billion.Gross profit increased by 6.2% to approximately RMB 4.6 billion.Profit attributable to equity holders of the Company increased by 9.9% to approximately
RMB 1.6 billion. Proposed final. Dividend per share of RMB 8.0 cents (equivalent to approximately HK $10.1cents) the school FY2013 results announced by the NDP with
to reduce costs and increase ประสิทธิภาพการ sales success
.History of high sales increased financial highlights 5.8% about yuan, 000 700 28, gross, increase 6.2 about yuan 4600000000 profit from its shareholders. The company increased 9. 9
.% on Yuan 1600000000 offer dividends per share of RMB 8.0 St. (the equivalent of about HK $10.1cents)


The FY2013. Annual results announcement by NDP with
reducing the cost and enhance the successful sale
history high sell highlights,, Increased financial 5.8% about RMB, 28.7 million gross margin increased 6.2 about RMB, 4.6 billion profits from the shareholders of the company increased 9. 9
%. About RMB 1.6 billion. The proposed. Final dividend per share of RMB 8.0 St. (the equivalent of about $HK 10.1cents)
NDP Limited announced the annual results
FY2013) to reduce costs and to enhance success selling
.Historic high sale highlights the increased financial 5.8% about RMB 28.7 million profit increase 6.2 about RMB 4.6 billion. Profit from the shareholders of the company increased 9. 9
% about RMB 1.6 billion. The proposed final dividend per share of RMB 8.0 St. (the equivalent of about $10.1cents)
HK Nine Dragons Paper (Holdings). Co., Ltd. announced the annual FY2013
effects important in causing reduction and efficiency enhancement
.Successful sales from sales highlights high.Financial history increased 5.8% were approximately 28.7 yuan profit billion.Gross. Increased 6.2% were approximately RMB 4600000000. Profit shareholders' equity of the company increased from 9.