Nine Dragons Paper Announced Interim Results for H1 FY21

SEATTLE (Scrap Monster): Hong Kong-based Nine Dragons Paper (Holdings) Ltd. announced unaudited interim results for the first six months of its 2021 fiscal year, ended on 31^st December, 2020.

The revenue surged higher by 7.1% over the previous year to hit historic highs of RMB30.9 billion. The sales volume too hit new record of 8.6 million metric tons per year. The net profit posted year-on-year increase of 75.6% to RMB4 billion. The gross profit margin increased by 3.8% to 20.9%. The cash flow continued to remain at considerably healthy levels, said the company press release.

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As of end-December 2020, the total design production capacity for pulp stood at 0.85 million metric tons per year. Also, the total design production capacity for paper was 17.57 million metric tons per year.

Commenting on future plans, Nine Dragons plans to boost wood pulp production capacity by 3.12 million metric tons per year in China by the end of 2022. Also, production capacity of recycled pulp will be increased by 0.6 million metric tons per year by end-2023. Over the next two years, the production capacity of paper in China and Malaysia will be increased by 5.35 million metric tons per year and 0.9 million metric tons per year.