ST晨鸣B:2026年半年度报告摘要(英文版)
摘要
Stock code: 000488 200488 Stock abbreviation: ST Chenming ST Chenming B Announcement No.: 2026-043
2026 Interim Report Summary of Shandong Chenming Paper Holdings Limited
I. IMPORTANT NOTICE
This interim report summary is extracted from the text of the interim report. For the full understanding of the operating results, the financial position and the plan for further development of the Company, investors should carefully read the text of the interim report published on the media as designated by the CSRC.
All directors have attended the board meeting to review this report. Notice of non-standard auditor’s opinion
- □ Applicable Not applicable
A proposed profit distribution plan or a proposed plan on conversion of capital reserves into share capital for the reporting period was considered by the Board
- □ Applicable Not applicable
The Company proposes not to distribute cash dividend, issue bonus shares, or capitalise from capital reserves.
A proposed profit distribution plan on preference shares for the reporting period was approved by the Board
- □ Applicable Not applicable
II. BASIC INFORMATION ABOUT THE COMPANY
1. Company profile
| Stock abbreviation | ST Chenming | Stock code | 000488 | ||
|---|---|---|---|---|---|
| ST Chenming B | 200488 | ||||
| Stock exchange on which the shares are listed | Shenzhen Stock Exchange | ||||
| Stock abbreviation | CHENMING PAPER | Stock code | 01812 | ||
| Stock exchange on which the shares are listed | The Stock Exchange of Hong Kong Limited | ||||
| Stock abbreviation before the change | N/A | ||||
| Contact persons and contact methods | Secretary to the Board | Representatives for Securities Affairs | Hong Kong Company Secretary | ||
| Name | Yuan Xikun | Chen Lin | Chu Hon Leung | ||
| Office address | No. 2199 East Nongsheng Road, Shouguang City, Shandong Province | No. 2199 East Nongsheng Road, Shouguang City, Shandong Province | 22nd Floor, World Wide House, Central, Hong Kong | ||
| Telephone | 0536-5135888 | 0536-5135888 | 00852-21629600 | ||
| Email address | cmir@chenming.com.cn | cmir@chenming.com.cn | liamchu@li-partners.com |
2. Major accounting data and financial indicators Retrospective adjustment to or restatement of the accounting data for prior years by the Company
□ Yes No
| The reporting period | The corresponding period of the prior year | Increase/decrease for the reporting period as compared to the corresponding period of the prior year | |
|---|---|---|---|
| Revenue (RMB) | 6,865,428,943.30 | 2,106,630,952.30 | 225.90% |
| Net profit attributable to shareholders of the Company (RMB) | -786,475,084.18 | -3,857,953,190.56 | 79.61% |
| Net profit after extraordinary gains or losses attributable to shareholders of the Company (RMB) | -1,089,477,041.98 | -3,645,363,615.81 | 70.11% |
| Net cash flows from operating activities (RMB) | 322,382,985.88 | 785,303,274.19 | -58.95% |
| Basic earnings per share (RMB per share) | -0.27 | -1.31 | 79.39% |
| Diluted earnings per share (RMB per share) | -0.27 | -1.31 | 79.39% |
| Weighted average return on net assets | -150.65% | -53.39% | Decrease by 97.26 percentage points |
| As at the end of the reporting period | As at the end of the prior year | Increase/decrease as at the end of the reporting period as compared to the end of the prior year | |
| Total assets (RMB) | 50,966,173,507.30 | 50,620,148,908.13 | 0.68% |
| Net assets attributable to shareholders of the Company (RMB) | 155,805,696.62 | 903,835,592.13 | -82.76% |
3. Number of shareholders and shareholding of the Company Unit: Shares
| Total number of ordinary shareholders as at the end of the reporting period | 93,718, of which 77,810 were holders of A shares, 15,598 were holders of B shares and 310 were holders of H shares | Total number of holders of preference shares with restored voting right as at the end of the reporting period | 0 | ||||
|---|---|---|---|---|---|---|---|
| Shareholding of top 10 shareholders (excluding the shares lent under refinancing business) | |||||||
| Name of shareholders | Nature of shareholders | Percentage of shareholding | Number of shares held | Number of restricted shares held | Share pledged, marked or frozen | ||
| Status of shares | Number | ||||||
| CHENMING HOLDINGS COMPANY LIMITED | State-owned legal person | 15.50% | 455,781,319 | 0 | Pledged | 386,811,546 | |
| Frozen | 409,956,441 | ||||||
| HKSCC NOMINEES LIMITED | Overseas legal person | 12.70% | 373,424,775 | 0 | N/A | 0 | |
| CHENMING HOLDINGS (HONG KONG) LIMITED (Note 1) | Overseas legal person | 12.38% | 364,131,563 | 0 | N/A | 0 | |
| Jin Xing | Domestic natural person | 1.31% | 38,622,315 | 0 | N/A | 0 | |
| Chen Hongguo (Note 2) | Domestic natural person | 0.65% | 19,080,044 | 0 | Frozen | 19,080,044 | |
| Wang Fanliang | Domestic natural person | 0.32% | 9,406,000 | 0 | N/A | 0 | |
| Ji Zhongqiu | Domestic natural person | 0.31% | 8,996,674 | 0 | N/A | 0 | |
| Shouguang Zhongli Trading Co., Ltd.*( 寿 光市众力商贸有限公司) | Domestic nonstate-owned legal person | 0.31% | 8,972,750 | 0 | N/A | 0 | |
| Xu Hekun | Domestic natural person | 0.28% | 8,380,250 | 0 | N/A | 0 | |
| Pan Jiankai | Domestic natural person | 0.26% | 7,770,206 | 0 | N/A | 0 | |
| Related party relationship or acting in concert among the above shareholders | A shareholder, Chenming Holdings (Hong Kong) Limited, which is an overseas legal person, is a wholly-owned subsidiary of a shareholder, Chenming Holdings Company Limited, which is a state-owned legal person. Save for the above, it is not aware that any other shareholders of tradable shares are persons acting in concert. It is also not aware that any other shareholders of tradable shares are related to each other. | ||||||
| Securities margin trading of shareholders (if any) | Chenming Holdings Company Limited held 455,781,319 RMB ordinary shares, of which 409,956,441 shares were held through ordinary account and 45,824,878 shares were held through credit guarantee security account. |
- Note 1: In order to meet its own capital needs, Chenming Holdings (Hong Kong) Limited conducted share financing business with overseas institutions, entrusting 210,717,563 B shares and 153,414,000 H shares of the Company held by it to the custody brokerage designated by overseas institutions. The aforesaid shares were subject to the risk of not to be recovered, which may lead to a reduction in the Company’s shareholding, but does not affect Chenming Holdings’ position as the largest shareholder, and does not affect the Company’s control. For details, please refer to the announcement disclosed by the Company on CNINFO on 18 July 2023 (announcement no.: 2023-058) and the insider information disclosed by the Company on the website of Hong Kong Stock Exchange on 18 July 2023.
- Note 2: On 1 November 2024, pursuant to the 2020 Restricted A Share Incentive Scheme (Draft), the Company made payments to the participants for the repurchase of restricted shares not yet unlocked for the third unlocking period under the 2020 Restricted A Share Incentive Scheme. In the process of completing the procedures for the share transfer and cancellation, the 6,000,000 restricted shares held by Mr. Chen Hongguo were judicially frozen. Hence, the procedures for the transfer and cancellation of such restricted shares were not yet completed with the Shenzhen Branch of China Securities Depository and Clearing Corporation Limited. The 19,080,044 shares held by Mr. Chen Hongguo, being a domestic natural person, excludes the 6,000,000 restricted shares to be cancelled under the share incentive scheme.
Share lending by shareholders with more than 5% shareholding, top 10 shareholders and top 10 holders of non-restricted shares under refinancing business
- □ Applicable Not applicable
Change of top 10 shareholders and top 10 holders of non-restricted shares as compared to the prior period as a result of share lending/return under refinancing arrangement
- □ Applicable Not applicable
- 4. Change of controlling shareholders or actual controllers Change of controlling shareholders during the reporting period
- □ Applicable Not applicable There was no change of controlling shareholders of the Company during the reporting period. Change of actual controllers during the reporting period
- □ Applicable Not applicable There was no change of actual controllers of the Company during the reporting period.
- 5. Total number of holders of preference shares and the shareholdings of top ten holders of preference shares
□ Applicable Not applicable There was no shareholding of holders of preference shares of the Company during the reporting period.
- 6. Bonds subsisting as at the date of approval of the interim report
□ Applicable Not applicable
- III. Material matters
- 1. Full Resumption of Production at Production Bases
During the reporting period, the Company adhered to the principle of "safety first, efficiency-focused, and results-oriented", strengthened corporate management, and coordinated efforts to resume production and operations at its production bases. The management and staff of Zhanjiang Chenming, together with the support teams designated by the Group, worked collaboratively to overcome challenges, efficiently completing key tasks including fund raising, equipment maintenance, raw material procurement, and market coordination, thereby successfully achieving the full resumption of production at the Zhanjiang
production base. As a result, all five major production bases of the Company in Shouguang, Zhanjiang, Huanggang, Jiangxi and Jilin have now fully resumed production. Going forward, the Company will continue to strengthen cost reduction and efficiency enhancement across the entire production process, accelerate development of a full range of new products, and coordinate efforts to advance production and operations, reform and innovation, and team building. The Company will strive to improve operating performance, steadily mitigate debt risks, and promote sustainable, stable, and high-quality development.
For details, please refer to the relevant announcement disclosed by the Company on CNINFO on 14 March 2026 (Announcement No.: 2026-004) and the announcement disclosed on the website of the Hong Kong Stock Exchange on 16 March 2026.
2. Information disclosure index for 2026 Interim Report
| Announcement No. | Subject matter | Date of publication | Publication website and index |
|---|---|---|---|
| 2026-001 | 2025 Annual Results Forecast | 31 January 2026 | http://www.cninfo.com.cn |
| 2026-002 | Announcement on Unusual Price Movement of Shares of the Company | 26 February 2026 | http://www.cninfo.com.cn |
| 2026-003 | Announcement on Unusual Price Movement of Shares of the Company | 11 March 2026 | http://www.cninfo.com.cn |
| 2026-004 | Announcement on Full Resumption of Production at Production Bases | 14 March 2026 | http://www.cninfo.com.cn |
| 2026-005 | Announcement on Unusual Price Movement of Shares of the Company | 18 March 2026 | http://www.cninfo.com.cn |
| 2026-006 | Special Statement of the Board of Directors on Matters Related to the 2025 Audit Report | 31 March 2026 | http://www.cninfo.com.cn |
| 2026-007 | Announcement on Resolutions of the Third Meeting of the Eleventh Session of the Board of Directors | 31 March 2026 | http://www.cninfo.com.cn |
| 2026-008 | Announcement on Uncovered Losses Exceeding One- Third of Paid- in Share Capital of the Company | 31 March 2026 | http://www.cninfo.com.cn |
| 2026-009 | Notice of 2025 Annual General Meeting | 31 March 2026 | http://www.cninfo.com.cn |
| 2026-010 | 2025 Annual Report Summary | 31 March 2026 | http://www.cninfo.com.cn |
| 2026-011 | Announcement on the 2025 Annual Online Performance Briefing | 31 March 2026 | http://www.cninfo.com.cn |
| 2026-012 | Special Statement on Securities Investment in 2025 | 31 March 2026 | http://www.cninfo.com.cn |
| 2026-013 | Announcement on Proposed Non-distribution of Profit for 2025 | 31 March 2026 | http://www.cninfo.com.cn |
| 2026-014 | Announcement on Carrying out Factoring Business of Accounts Receivable | 31 March 2026 | http://www.cninfo.com.cn |
| 2026-015 | Announcement on Development of Equipment Financing Business | 31 March 2026 | http://www.cninfo.com.cn |
| 2026-016 | Announcement on Expected Provision of Guarantees to Subsidiaries for 2026 | 31 March 2026 | http://www.cninfo.com.cn |
| 2026-017 | Announcement on External Guarantees Provided by the Majority-owned Subsidiaries of the Company | 31 March 2026 | http://www.cninfo.com.cn |
| 2026-018 | Announcement on Re-appointment of Auditor for 2026 | 31 March 2026 | http://www.cninfo.com.cn |
| 2026-019 | Announcement on Estimated Day-to-day Related Party Transactions for 2026 | 31 March 2026 | http://www.cninfo.com.cn |
| 2026-020 | Announcement on Remuneration Package for Directors and Senior Management for 2026 | 31 March 2026 | http://www.cninfo.com.cn |
| 2026-021 | Announcement on Purchase of Liability Insurance for Directors and Senior Management | 31 March 2026 | http://www.cninfo.com.cn |
| 2026-022 | Announcement on Cumulative New Overdue Debts and Litigation | 31 March 2026 | http://www.cninfo.com.cn |
| 2026-023 | Announcement on Provision for Asset Impairment | 31 March 2026 | http://www.cninfo.com.cn |
| 2026-024 | Special Statement of the Board of Directors on the Elimination of Impact of Matters Relating to the Qualified Opinion in the 2024 Internal Control Audit Report | 31 March 2026 | http://www.cninfo.com.cn |
| 2026-025 | Special Statement of the Board of Directors on the Elimination of Material Uncertainty on Going Concern Relating to the 2024 Audit Report | 31 March 2026 | http://www.cninfo.com.cn |
| 2026-026 | Announcement on Change of Investor Contact Information | 14 April 2026 | http://www.cninfo.com.cn |
| 2026-027 | 2026 First Quarterly Report | 30 April 2026 | http://www.cninfo.com.cn |
|---|---|---|---|
| 2026-028 | Announcement on Unusual Price Movement of Shares of the Company | 8 May 2026 | http://www.cninfo.com.cn |
| 2026-029 | Announcement on Participating in the 2026 Online Collective Reception Day for Investors of Listed Companies in Shandong | 13 May 2026 | http://www.cninfo.com.cn |
| 2026-030 | Results of the 2025 Annual General Meeting | 16 May 2026 | http://www.cninfo.com.cn |
| 2026-031 | Announcement on Receipt of Administrative Supervision Measures Decision from Shandong Securities Regulatory Bureau | 6 June 2026 | http://www.cninfo.com.cn |
| 2026-032 | Announcement on Resolutions of the Second Extraordinary Meeting of the Eleventh Session of the Board of Directors | 13 June 2026 | http://www.cninfo.com.cn |
| 2026-033 | Announcement on Transfer of Equity and Creditor’s Rights in a Subsidiary | 13 June 2026 | http://www.cninfo.com.cn |
| 2026-034 | Notice of the First Extraordinary General Meeting for 2026 | 13 June 2026 | http://www.cninfo.com.cn |
| 2026-035 | Announcement on New Cumulative Litigation | 13 June 2026 | http://www.cninfo.com.cn |
| 2026-036 | Announcement on Resolutions of the First Extraordinary General Meeting of 2026 | 1 July 2026 | http://www.cninfo.com.cn |
The Board of Shandong Chenming Paper Holdings Limited 28 August 2026
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