PDF《玖龙纸业（2689.HK）》

s own independent verification and exercise of judgment. The fact that this publication has been made available constitutes neither a recommendation to enter into a particular transaction nor a representation that any product described in this material is suitable or appropriate for the recipient. Recipients should be aware that many of the products which may be described in this publication involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks. Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of a security. Any decision to purchase securities mentioned in this research should take into account existing public information, including any registered prospectus in respect of such security. Disclosure of Interest Analyst Disclosure: Neither the analyst(s) preparing this report nor his associate has any financial interest in or serves as an officer of the listed corporation covered in this report. Firm'

s Disclosure: Phillip Securities does not have any investment banking relationship with the listed corporation covered in this report nor any financial interest of 1% or more of the market capitalization in the listed corporation. In addition, no executive staff of Phillip Securities serves as an officer of the listed corporation. Availability The information, tools and material presented herein are not directed, intended for distribution to or use by, any person or entity in any jurisdiction or country where such distribution, publication, availability or use would be contrary to the applicable law or regulation or which would subject Phillip Securities to any registration or licensing or other requirement, or penalty for contravention of such requirements within such jurisdiction. Information contained herein is based on sources that Phillip Securities (Hong Kong) Limited ( PSHK ) believed to be accurate. PSHK does not bear responsibility for any loss occasioned by reliance placed upon the contents hereof. PSHK (or its affiliates or employees) may have positions in relevant investment products. For details of different product'

s risks, please visit the Risk Disclosures Statement on http://www.phillip.com.hk. ?

2017 Phillip Securities (Hong Kong) Limited Contact Information (Regional Member Companies) Total Return Recommendation Rating Remarks >

+20% Buy

1 >

20% upside from the current price +5% to +20% Accumulate

2 +5% to +20%upside from the current price -5% to +5% Neutral

3 Trade within ± 5% from the current price -5% to -20% Reduce

4 -5% to -20% downside from the current price 20%downside from the current price PHILL 玖龙纸业 玖龙纸业 玖龙纸业 玖龙纸业(2689 HK) 更新 更新 更新 更新报告 报告 报告 报告 SINGAPORE Phillip Securities Pte Ltd Raffles City Tower 250, North Bridge Road #06-00 Singapore

179101 Tel : (65)

6533 6001 Fax : (65)

6535 6631 Website: www.poems.com.sg MALAYSIA Phillip Capital Management Sdn Bhd B-3-6 Block B Level

3 Megan Avenue II, No. 12, Jalan Yap Kwan Seng,

50450 Kuala Lumpur Tel (603)

21628841 Fax (603)

21665099 Website: www.poems.com.my HONG KONG Phillip Securities (HK) Ltd Exchange Participant of the Stock Exchange of Hong Kong 11/F United Centre