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Hengan launches structured tissue products after Toscotec's TADVISION machine start-up at its Xiaogan mill, the first of two ordered; TADVISION is the nation's first TAD machine, boasting quality structured tissue with excellent bulk, softness, absorbency

Daiwa maintains Hengan's outperform rating, as H2 2023 profit outperforms expectation due to lower raw materials costs, operating expense savings; analyst raises 2024-2025 earnings forecast by 5%-7% on higher operating margin forecasts

JPMorgan rates Hengan at overweight and lowers target by HK$6 to HK$38, noting 2023 sales miss estimates, but earnings surpass forecasts; management expects gross profit margin to improve further as cost reductions are favorable for full-year performance

Guangdong Hengan Paper starts up two new Andritz PrimeLine tissue machines at its mill in Yunfu, Guangdong, China; the PrimeLineCOMPACT M 1600 machines produce top-quality tissue for facial, toilet, handkerchief and napkin grades from virgin market pulp

Citi upgrades Hengan to buy from neutral and raises 2023-2025 net profit forecasts; lower raw material costs expected to drive rebound in H2 and 2024 earnings based on trend of improved margins in Q3, possible easing of costs as pulp supply expands

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