Changes in Hong Kong stocks | Lee & Man Paper (02314) rose by more than 7%, the highest mid-term profit forecast increased by 71%, Citi raised the company's earnings estimates and target prices

The Zhitong Finance App learned that Lee & Man Paper (02314) rose by more than 7%. As of press release, it had risen 7.14% to HK$4.05, with a turnover of HK$74.562 million.

According to the news, Lee & Man Paper recently announced that it is expected to obtain the company's profit for the period of about HK$1.33 billion to HK$1.39 billion for the six months ending June 30, 2026, an increase of 64% to 71% over HK$811 million in the same period last year. This increase in earnings was mainly due to a rise in the Group's marginal profit.

Citi said that the company's mid-term performance was stronger than expected. Accordingly, the 2026-2028 profit forecast was raised by 22% to 28%, and the target price was raised from HK$4.3 to HK$4.8, maintaining a “buy” rating. Citi expects a strong profit recovery of about 33% this year, and the compound annual profit growth rate between 2026 and 2028 will reach 14%.