ND PAPER (02689) saw its shares rise more than 10%. At the time of writing, the stock was up 9.6%, trading at HK$7.08 with a turnover of HK$109 million. This movement follows the company's recent announcement of price increases for its packaging paper products. Reports indicate that on May 20, ND PAPER issued synchronized price hike notices across its ten major production bases, including Dongguan, Taicang, Quanzhou, Chongqing, and Leshan. The increases cover main packaging paper grades such as corrugated paper and various kraft paperboard, with a standard raise of RMB 50 per ton. According to tracking data from Bohai Securities, domestic prices for corrugated paper and boxboard have been steadily climbing, with weekly increases of RMB 50 and RMB 25 per ton, respectively, in the most recent period. The firm suggests that, in the short term, the comprehensive price hikes from leading paper manufacturers' primary production bases will further support the upward trend in packaging paper prices. Huafu Securities noted that ND PAPER's price increase announcement comes as the company's current stock price implies a forward P/E ratio of approximately 7x for FY26, highlighting a potential valuation recovery opportunity from its current low base.