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China Sunshine Paper Holdings Co. Ltd.
(2002)
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Rating:55Neutral
Price Target:
HK$1.00
▼(-4.76% Downside)
Action:Reiterated
Date:07/29/26
The score is held back primarily by weakened financial performance, especially the sharp 2025 cash-flow deterioration and thinner margins alongside rising leverage. Offsetting this, the stock shows a constructive technical setup versus moving averages and looks attractively valued (low P/E and ~4.76% dividend yield), which supports a mid-range overall score.
Positive Factors
Stable gross & EBITDA margins
Mid‑teen gross margins and a positive EBITDA margin (~8.7% in 2025) indicate the core paper business retains operating resilience. In an asset‑heavy industry, sustained gross profitability supports coverage of fixed costs and provides a buffer versus raw‑material and energy swings, helping preserve cash flow generation over cycles.
Negative Factors
Severe cash‑flow deterioration
Deeply negative free cash flow (~-582M in 2025) is a durable red flag: it impairs the company’s ability to fund capex, service debt and sustain discretionary payouts without external financing. Persistent negative FCF can force asset sales, higher borrowing or equity issuance, reducing strategic flexibility over months to years.
Read all positive and negative factors
Positive Factors
Negative Factors
Stable gross & EBITDA margins
Mid‑teen gross margins and a positive EBITDA margin (~8.7% in 2025) indicate the core paper business retains operating resilience. In an asset‑heavy industry, sustained gross profitability supports coverage of fixed costs and provides a buffer versus raw‑material and energy swings, helping preserve cash flow generation over cycles.
Read all positive factors
China Sunshine Paper Holdings Co. Ltd. (2002) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$1.07B
Dividend Yield5%
Average Volume (3M)44.22K
Price to Earnings (P/E)5.7
Beta (1Y)0.25
Revenue Growth-3.12%
EPS Growth-41.12%
CountryHK
Employees4,500
SectorBasic Materials
Sector Strength58
IndustryPaper, Lumber & Forest Products
Share Statistics
EPS (TTM)0.15
Shares Outstanding1,065,144,400
10 Day Avg. Volume41,700
30 Day Avg. Volume44,221
Financial Highlights & Ratios
PEG Ratio-0.20
Price to Book (P/B)0.28
Price to Sales (P/S)0.18
P/FCF Ratio-2.37
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
China Sunshine Paper Holdings Co. Ltd. Business Overview & Revenue Model
Company Description
China Sunshine Paper Holdings Company Limited is an international enterprise primarily involved in the manufacturing and distribution of diverse paper products. Its extensive portfolio encompasses white top linerboards, both standard and coated va...
How the Company Makes Money
The company makes money primarily by manufacturing paper products and selling them to customers (typically businesses) that use paper for packaging and related industrial applications. Key revenue streams are generated from (1) sales of paper prod...
China Sunshine Paper Holdings Co. Ltd. Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
48
Neutral
Cash Flow
23
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 7.79B | 8.05B | 8.36B | 9.54B | 7.98B |
| Gross Profit | 1.09B | 1.20B | 1.31B | 1.16B | 1.53B |
| EBITDA | 731.19M | 613.96M | 1.19B | 918.92M | 1.24B |
| Net Income | 159.90M | 279.87M | 393.31M | 205.73M | 556.62M |
Balance Sheet | |||||
| Total Assets | 13.54B | 12.11B | 12.16B | 12.10B | 11.03B |
| Cash, Cash Equivalents and Short-Term Investments | 2.92B | 1.15B | 1.59B | 868.93M | 840.09M |
| Total Debt | 6.50B | 5.11B | 5.18B | 5.56B | 4.71B |
| Total Liabilities | 8.22B | 6.81B | 7.19B | 7.68B | 6.94B |
| Stockholders Equity | 4.84B | 4.85B | 4.57B | 4.09B | 3.78B |
Cash Flow | |||||
| Free Cash Flow | -582.25M | 86.51M | 870.30M | -111.79M | -50.98M |
| Operating Cash Flow | 113.71M | 680.54M | 1.41B | 546.40M | 1.07B |
| Investing Cash Flow | -791.12M | -884.63M | -118.01M | -1.13B | -1.39B |
| Financing Cash Flow | 853.55M | -228.69M | -559.81M | 607.55M | 536.07M |
China Sunshine Paper Holdings Co. Ltd. Technical Analysis
Neutral
1.05
Price Trends
0.94
Positive
1.02
Negative
1.25
Negative
Market Momentum
0.03
Negative
53.94
Neutral
13.57
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2002, the sentiment is Neutral. The current price of 1.05 is above the 20-day moving average (MA) of 0.97, above the 50-day MA of 0.94, and below the 200-day MA of 1.25, indicating a neutral trend. The MACD of 0.03 indicates Negative momentum. The RSI at 53.94 is Neutral, neither overbought nor oversold. The STOCH value of 13.57 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:2002.
China Sunshine Paper Holdings Co. Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | HK$17.22B | 8.91 | 7.88% | 3.95% | 2.49% | 47.91% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | HK$168.15M | 1.82 | 24.65% | ― | 0.10% | 81.31% | |
57 Neutral | HK$35.43B | 9.02 | 7.39% | ― | 7.38% | 252.52% | |
55 Neutral | HK$1.07B | 5.73 | 3.27% | 5.15% | -3.12% | -41.12% | |
45 Neutral | HK$410.23M | -4.35 | -59.49% | ― | 9.60% | -399.43% | |
41 Neutral | HK$4.51B | -0.79 | -299.18% | ― | -48.87% | 16.69% |
* Basic Materials Sector Average
HK:2002
China Sunshine Paper Holdings Co. Ltd.
1.01
-0.92
-47.66%
HK:2314
Lee & Man Paper Manufacturing
4.32
1.36
45.97%
HK:2689
Nine Dragons Paper Holdings
8.06
2.83
54.11%
HK:1812
Shandong Chenming Paper Holdings Co., Ltd. Class H
0.67
-0.31
-31.63%
HK:0731
C&D Newin Paper & Pulp Corporation Limited
0.27
0.06
28.57%
HK:8481
Shenglong Splendecor International Limited
0.41
-0.07
-14.58%
China Sunshine Paper Holdings Co. Ltd. Corporate Events
China Sunshine Paper Uses Sale-and-Leaseback to Unlock Capital From Linerboard Assets
Jul 21, 2026
China Sunshine Paper Holdings Co. Ltd., via its subsidiary Numat Paper, is a Chinese paper manufacturer specializing in coated white top linerboard, relying on dedicated production equipment installed at its Weifang, Shandong facility. These indus...
China Sunshine Paper Warns of Sharply Lower Interim Profit Amid Rising Costs
Jul 17, 2026
China Sunshine Paper Holdings Company Limited, a Hong Kong-listed paper manufacturer incorporated in the Cayman Islands with main operations in Shandong, PRC, produces paper and related materials for regional and broader markets. The group operate...
China Sunshine Paper Lends RMB59 Million to Boost Returns on Cash
Jun 16, 2026
China Sunshine Paper Holdings’ subsidiary Century Sunshine has agreed to extend a RMB59 million loan to Rifangsheng for one year at an annual interest rate of 3.45%, with interest payable quarterly and principal due in a lump sum at maturity...
China Sunshine Paper Wins Strong Shareholder Backing at 2026 AGM
Jun 12, 2026
China Sunshine Paper Holdings reported the results of its annual general meeting held on 12 June 2026 in Weifang, Shandong, with all directors attending either in person or electronically. Shareholders overwhelmingly approved the company’s a...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.