Nine Dragons 2689.HK closes HK$9.83 on 20 Feb 2026: earnings on 25 Feb to test margins

The 2689.HK stock closed at HK$9.83 on 20 Feb 2026, up 2.72%, as investors position ahead of Nine Dragons Paper’s earnings on 25 Feb 2026. This short note focuses on near-term earnings drivers, valuation and a Meyka AI forecast to help investors weigh risk versus upside. We track EPS 0.43, PE 22.79, and volume 8,919,333 shares on the HKSE in Hong Kong.