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Edge20 Feb 2026
Dollar General: The Rural Retailer Playbook
How Dollar General built a small-box empire across rural America, scaling value and convenience into one of retail's most durable business models.
Nine Dragons Paper
Nine Dragons Paper (2689) investor relations material
Nine Dragons Paper H1 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 25/26 earnings summary25 Feb, 2026
Executive summary
Sales volume reached 12.4 million tonnes, up 8.3% year-over-year, setting a new record for the third consecutive comparable period.
Revenue rose 11.2% to RMB37,220.8 million, driven by both higher volume and a 2.7% increase in average selling price.
Gross profit surged 67.4% to RMB5,347.2 million, with gross margin improving from 9.5% to 14.4%.
Net profit jumped 225.1% to RMB2,211.7 million; profit attributable to equity holders soared 318.8% to RMB1,966.5 million.
Strategic expansion into high value-added paper grades and successful capacity ramp-up in key regions enhanced competitiveness.
Financial highlights
Revenue: RMB37,220.8 million, up 11.2% year-over-year.
Gross profit: RMB5,347.2 million, up 67.4% year-over-year; gross margin at 14.4%.
Net profit: RMB2,211.7 million, up 225.1% year-over-year.
EPS: RMB0.42, up 320% year-over-year.
Operating profit: RMB3,407.6 million, up 113.4% year-over-year.
Finance costs net: RMB808.3 million, up 4.7% year-over-year due to higher borrowings for expansion.
Outlook and guidance
Cautiously optimistic outlook, supported by favorable government policies and environmental trends.
Focus on cost control, lean management, and increasing high value-added product mix.
No interim dividend declared for the period.
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Next Nine Dragons Paper earnings date
H2 25/2623 Sep, 2026
Nine Dragons Paper
Next Nine Dragons Paper earnings date
H2 25/2623 Sep, 2026
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