2021 Interim Report Summary of Shandong Chenming Paper Holdings Limited
Stock code: 000488, 200488 Stock abbreviation: Chenming Paper Chenming B Announcement No.: 2021-077
2021 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 res ults,
financial position and plan for future development of the Company, investors should carefully read the full version of the interim
report published on the media designated by the CSRC.
All directors have attended the board meeting to review this report.
Non-standard auditor’s opinion
□ Applicable √ Not applicable
A proposed profit distribution plan on ordinary shares or a proposed plan on conversion of capital reserves into share capital for the
reporting period was considered and passed by the Board
□ Applicable √ Not applicable
The Company plans not to distribute cash dividends or bonus shares or convert capital reserve into share capital.
A proposed profit distribution plan on preference shares for the reporting period was considered and approved by the Board
□ Applicable √ Not applicable
II. BASIC IMFORMATION ON THE COMPANY
1. Company profile
晨鸣纸业 000488
Stock abbreviation 晨鸣B Stock code 200488
晨鸣优03 140005
Stock exchanges on which the shares are listed Shenzhen Stock Exchange
Stock abbreviation Chenming Paper Stock code 01812
Stock exchanges on which the shares are listed The Stock Exchange of Hong Kong Limited
Contact persons and contact methods Secretary to the Board Hong Kong Company Secretary
Name Yuan Xikun Chu HonLeung
No. 2199 East Nongsheng Road,
Correspondence Address 22nd Floor, World Wide House
Shouguang City,Shandong Province
Telephone 0536-2158008 +852-21629600
Email address chenmmingpaper@163.com 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
Increase/decrease for the
The corresponding
reporting period as compared
The reporting period period of the prior
to the corresponding period of
year
the prior year
Revenue (RM B) 17,172,816,354.53 13,599,805,765.86 26.27%
Net profit attributable to shareholders of the Company (RM B) 2,021,095,417.54 516,326,703.48 291.44%
Net profit after extraordinary gains or losses attributable to
1,964,718,180.70 67,882,116.23 2,794.31%
shareholders of the Co mpany (RM B)
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2021 Interim Report Summary of Shandong Chenming Paper Holdings Limited
Net cash flows fro m operating activities (RM B) 4,747,185,521.94 2,327,033,784.68 104.00%
Basic earn ings per share (RMB per share) 0.604 0.051 1,084.31%
Diluted earnings per share (RM B per share) 0.604 0.051 1,084.31%
Rate of return on weighted average net assets 8.94% 0.84% 8.10%
Increase/decrease as at the
As at the end of the As at the end of the end of the reporting period as
reporting period prior year compared to the end of the
prior year
Total assets (RMB) 90,601,029,144.35 91,575,457,828.62 -1.06%
Net assets attributable to shareholders of the Company (RM B) 23,295,559,729.26 24,276,968,789.00 -4.04%
Data description of basic earnings per share, diluted earnings per share, and rate of return on weighted average net assets:
Net profit attributable to shareholders of the Co mpany does not exclude the effect on interest of perpetual bonds and the dividends on Preference
Shares paid and declared to be paid. When calculating financial indicators such as earnings per share and the rate of return on weighted average net
assets, the interest on perpetual bonds from 1 January 2021 to 30 June 2021 of RM B44,481,369.86 and the dividend on Preference Shares paid and
declared to be paid in 2021 of RM B207,065,968.66 are deducted.
3. Total number of shareholders and shareholdings
Unit: share
Total number of ordinary 177,220, of which 156,912 were holders Total number of holders of Preference Shares with
shareholders as at the end of the of A shares, 19,973 were holders of B restored voting right as at the end of the reporting 0
reporting period shares and 335 were holders of H shares period (if any)
Top 10 shareholders
Percent Share pledged, marked or
Nu mber of
age of Nu mber of locked-up
Name of shareholder Nature of shareholder restricted
shareh shares Status of
shares held Nu mber
olding shares
CHENM ING HOLDINGS COMPA NY
State-owned legal person 15.32% 457,322,919 0 Pledged 256,530,000
LIMITED
HKSCC NOMINEES LIMITED Overseas legal person 12.52% 373,523,125 0
CHENM ING HOLDINGS (HONG KONG)
Overseas legal person 12.20% 364,131,563 0
LIMITED
Chen Hongguo Do mestic natural person 1.04% 31,080,044 23,310,033
HONG KONG SECURITIES CLEA RING
Overseas legal person 0.94% 28,200,060 0
COMPANY LIMITED
GUOTAI JUNAN SECURITIES (HONG
Overseas legal person 0.63% 18,733,524 0
KONG) LIMITED
Do mestic
SHANDONG SUN HOLDINGS GROUP
non-state-owned legal 0.61% 18,181,717 0
CO., LTD.
person
VA NGUA RD TOTAL INTERNATIONA L
Overseas legal person 0.50% 14,771,945 0
STOCK INDEX FUND
MORGAN STANLEY & CO.
Overseas legal person 0.47% 14,092,721 0
INTERNATIONA L PLC
VA NGUA RD EM ERGING MA RKETS
Overseas legal person 0.46% 13,628,646 0
STOCK INDEX FUND
A shareholder, Chenming Ho ldings (Hong Kong) Limited, which is an overseas legal person, is a
wholly-o wned subsidiary of a shareholder, Chen ming Hold ings Co mpany Limited, which is a
state-owned legal person. Hence, they are persons acting in concert under the Measures for the
Related party relationship or acting in concert Admin istration of Disclosure of Shareholder Equity Changes of Listed Companies. A shareholder,
among the above shareholders Chen Hongguo, is the legal representative, chairman and general manager of Chen ming Hold ings
Co mpany Limited. Save for the above, it is not aware that any other sh areholders 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.
Chen ming Ho ldings Co mpany Limited held 457,322,919 RMB o rdinary shares, of which
379,522,919 shares were held through ordinary account and 77,800,000 shares were held through
Securities margin trading of shareholders, if credit guarantee security account.
any Shandong Sun Holdings Group Co., Ltd. held 18,181,717 RMB ord inary shares, of which no share
was held through ordinary account and 18,181,717 shares were held through credit guarantee
security account.
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2021 Interim Report Summary of Shandong Chenming Paper Holdings Limited
4. Change of controlling shareholders or beneficial 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 beneficial controllers during the reporting period
□ Applicable √ Not applicable
There was no change of beneficial 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
Unit: share
Total number of holders of Preference Shares as at the end of the reporting period 6
top ten holders of Preference Shares
Share pledged or
Preferenc
Nu mber of locked-up
Nature of e
Name of shareholder preference
shareholder sharehold Status of
shares Nu mber
ing shares
BANK OF COMMUNICATIONS INTERNATIONA L TRUST CO.,
Others 28.44% 6,400,000
LTD. – HUILI NO.136 SINGLE CAPITA L TRUST
Do mestic
BEIJING YIBEN ZHONGXING INVESTM ENT MA NA GEM ENT
non-state-owned 27.11% 6,100,000 Pledged 6,100,000
CO., LTD.
legal person
Do mestic
SHANGHA I SHIJIE BUSINESS CONSULTING CO., LTD. non-state-owned 18.40% 4,140,100 Pledged 4,140,000
legal person
Do mestic
HENGFENG BANK CO., LTD. non-state-owned 13.33% 3,000,000
legal person
LEA D CAPITA L MA NA GEM ENT CO., LTD. – LEA D CAPITAL –
Others 7.02% 1,580,000
LI DE YING NO. 1 ASSET MANA GEM ENT PLAN
LEA D CAPITA L MA NA GEM ENT CO., LTD. – LEA D CAPITAL –
Others 5.69% 1,279,900
LI DE YING NO. 2 ASSET MANA GEM ENT PLAN
The aforesaid holders of Preference Shares, “LEAD CAPITA L MANA GEM ENT CO., LTD.－LEA D
CAPITAL － LI DE YING NO.1 ASSET MANA GEM ENT PLA N” and “LEAD CAPITA L
Related party relationship or acting in MANAGEM ENT CO., LTD.－LEA D CAPITA L－LI DE YING NO.2 ASSET MA NA GEM ENT
concert among the above shareholders PLAN”, are persons acting in concert. Save for the above, it is not aware that wheth er the remaining
holders of Preference Shares are persons acting in concert. It is also not aware that the aforesaid holders
of Preference Shares and the top ten ordinary shareholders are related to each other.
6. Bonds subsisting as at the date of approval of the interim report
√ Applicable □ Not applicable
(1) Basic information on bonds
Outstanding
amount of
Interest
Name of bond Bond abbreviation Bond code Issue date Maturity date the bonds
rate
(RM B’0,00
0)
The public issuance of the Corporate Bonds of
17 Chenming Bond 21 August
Shandong Chenming Paper Hold ings Limited to 112570 17 August 2017 9,000 7.28%
01 2022
qualified investors in 2017 (phase I)
The public issuance of the Corporate Bonds of
18 Chenming Bond
Shandong Chenming Paper Hold ings Limited to 112641 29 March 2018 2 April 2023 35,000 7.60%
01
qualified investors in 2018 (phase I)
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2021 Interim Report Summary of Shandong Chenming Paper Holdings Limited
(2) Financial indicators as at the end of the reporting period
Unit: RMB’0,000
Item As at the end of the reporting period As at the end of the prior year
Gearing ratio 69.94% 71.83%
Item The reporting period The corresponding period of the prior year
EBITDA interest coverage ratio 4.00 2.72
III. Matters of significance
1. Change of listing venue of the domestic listed foreign shares and their listing and trading on the Main Board of the
Stock Exchange of Hong Kong Limited by conversion
On 9 March 2021, the Company held the 2021 first extraordinary general meeting, the 2021 first class meeting for holders of
domestic-listed shares, and the 2021 first class meeting for holders of overseas-listed shares. Proposal on the Domestic Listed Foreign
Shares of the Company Changing Listing Venue to be Listed and Traded on the Main Board of the Stock Exchange of Hong Kong
Limited by Way of Conversion and related matters were considered and approved. On 29 June 2021, the Company received the CSRC
Acceptance Notice of the Application for Administrative Permission issued by the China Securities Regulatory Commission, stating
that it has decided to accept the administrative license application.
For details, please refer to the relevant announcements (announcement no.: 2021-003,2021-018 and2021-053) of the Company
published on CNINFO on 30 January ,10 March 2021 and 1 July 2021.
2. Full redemption of the first-tranche preference shares
On 18 February 2021, the Company held the eighteenth extraordinary meeting of the ninth session of the Board to consider and
approve the Resolution on Redemption of the First-tranche Preferred Shares. On 17 March 2021, the Company paid a total of
RMB2,348.1 million in redemption to shareholders of the first-tranche preference shares to fully redeem 22.5 million shares of the
first-tranche preference shares of the Company. On 18 March 2021, the Company received the Redemption Results Statement from the
Shenzhen Branch of China Securities Depository and Clearing Co., Ltd. The redemption and delisting of Chenming You 01 was
completed.
For details, please refer to the relevant announcements (announcement no.: 2021-013, 2021-014, 2021-016, 2021-017,
2021-019, 2021-020, 2021-022, 2021-023) of the Company published on CNINFO on 19 February, 26 February, 5 March, 12 March,
16 March and 19 March 2021.
3. The 2020 profit distribution plan
On 18 June 2021, the Company convened the 2020 annual general meeting, at which the proposed 2020 profit distribution plan
was considered and approved. Based on the total number of ordinary shares of the Company as at the end of 2020 of 2,984,208,200
shares and the 589,005,236 simulated ordinary shares converted from the second and third tranche preference shares using a conversion
ratio of 1 share valued at RMB3.87 as at the end of 2019, a cash dividend of RMB1.85 (tax inclusive) was to be distributed to ordinary
shareholders for every 10 shares held; a cash dividend of RMB1.85 (tax inclusive) per 10 simulated ordinary shares converted from the
second and third tranche preference shares was to be distributed to holders of preference shares. No bonus shares would be issued and
there was no increase of share capital from reserves. The cash dividend distributed to ordinary shareholders amounted to
RMB552,078,517.00 and a variable cash dividend distributed to holders of the second and third tranche preference shares amounted to
RMB108,965,968.66. In the event of changes in the total share capital of the Company before the dividend distribution registration date,
the total profits distribution shall remain unchanged while the percentage of allocation will be adjusted accordingly.
For details, please refer to the relevant announcement (announcement no.: 2021-044) of the Company published on CNINFO on
19 June 2021.
4. Information disclosure index for the second half of 2021
Announcemen Date of Publication website and
Subject matter
t No. publication index
2021-001 Announcement on the Release of Pledge of Shares held by Shareholders 5 January 2021 http://www.cninfo.co m.cn
Announcement on the Release of Pledge and Continued Pledge of Shares held by
2021-002 19 January 2021 http://www.cninfo.co m.cn
Shareholders
Announcement on Resolutions of the Seventeenth Extraordinary Meet ing of the Ninth
2021-003 30 January 2021 http://www.cninfo.co m.cn
Session of the Board
Notice of the 2021 First Extraord inary General Meeting, the 2021 First Class Meeting for
2021-004 Holders of Do mestic-listed Shares and the 2021 First Class Meeting for Ho lders of 30 January 2021 http://www.cninfo.co m.cn
Overseas-listed Shares
2021-005 Announcement on the Solicitation of Voting Rights by the Independent Director 30 January 2021 http://www.cninfo.co m.cn
2021-006 Announcement on Receipt of Govern ment Subsidies by Wholly -owned Subsidiaries 30 January 2021 http://www.cninfo.co m.cn
Supplemental Notice on Convening the 2021 First Ext raordinary General Meeting, the
2021-007 2021 First Class Meeting for Holders of Domestic-listed Shares and the 2021 First Class 3 February 2021 http://www.cninfo.co m.cn
Meeting for Ho lders of Overseas -listed Shares
2021-008 Announcement on Unusual Movement in Share Trading 4 February 2021 http://www.cninfo.co m.cn
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2021 Interim Report Summary of Shandong Chenming Paper Holdings Limited
Announcement in respect of Provision of Guarantee in Favour of a Subsidiary for 10 February
2021-009 http://www.cninfo.co m.cn
Financing 2021
Announcement on Receipt of High and New Technology Enterprise Certificate by a 10 February
2021-010 http://www.cninfo.co m.cn
Subsidiary 2021
Amend ment Announcement on The Proposal on the Do mestic Listed Foreign Shares of
18 February
2021-011 the Co mpany Changing Listing Venue to be Listed and Traded on the Main Board of The http://www.cninfo.co m.cn
2021
Stock Exchange of Hong Kong Limited by way of Conversion
Announcement on Unusual Movement in Share Trading 18 February
2021-012 http://www.cninfo.co m.cn
2021
Announcement in respect of Resolutions of the Eighteenth Extraord inary Meeting of the 19 February
2021-013 http://www.cninfo.co m.cn
Ninth Session of the Board of Directors 2021
The First Indicative Announcement on the Redemption of the First-tranche Preference 19 February
2021-014 http://www.cninfo.co m.cn
Shares 2021
Announcement on Unusual Movement in Share Trad ing 19 February
2021-015 http://www.cninfo.co m.cn
2021
The Second Indicative Announcement on the Redemption of the First-tranche Preference 26 February
2021-016 http://www.cninfo.co m.cn
Shares 2021
The Third Indicative Announcement on the Redemption of the First -tranche Preference
2021-017 5 March 2021 http://www.cninfo.co m.cn
Shares
Announcement on Resolution of the 2021 First Extraord inary General Meeting, the 2021
2021-018 First Class Meeting for Holders of Do mestic-listed Shares, and the 2021 First Class 10 March 2021 http://www.cninfo.co m.cn
Meeting for Ho lders of Overseas -listed Shares
Announcement on the Full Redemption and Delisting of the First -tranche Preference
2021-019 12 March 2021 http://www.cninfo.co m.cn
Shares
The First Indicative Announcement on the Delisting of the First -tranche Preference
2021-020 12 March 2021 http://www.cninfo.co m.cn
Shares
Supplemental Announcement on the Poll Results of 2021 First Class Meeting for Holders
2021-021 13 March 2021 http://www.cninfo.co m.cn
of Overseas-listed Shares
2021-022 Announcement on the Delisting of the First-tranche Preference Shares 16 March 2021 http://www.cninfo.co m.cn
2021-023 Announcement on the Redemption Result of the First-tranche Preference Shares 19 March 2021 http://www.cninfo.co m.cn
Announcement in respect of Resolutions of the Eighth Meeting of the Ninth Session of
2021-024 26 March 2021 http://www.cninfo.co m.cn
the Board of Directors
Announcement on Resolutions of the Eighth Extrao rdinary Meeting of the Ninth Session
2021-025 26 March 2021 http://www.cninfo.co m.cn
of the Supervisory Co mmittee
2021-026 Notice of 2020 Annual General Meeting 26 March 2021 http://www.cninfo.co m.cn
2021-027 Announcement on Appointment of Auditor for 2021 26 March 2021 http://www.cninfo.co m.cn
2021-028 Announcement on the Adjustment to the Guarantee Amount for Certain Subsidiaries 26 March 2021 http://www.cninfo.co m.cn
2021-029 Announcement on Carrying out Factoring Business of Accounts Receivable 26 March 2021 http://www.cninfo.co m.cn
2021-030 Announcement on the Receipt of Financial Assistance and Related Party Transaction 26 March 2021 http://www.cninfo.co m.cn
2021-031 Announcement on the Resignation of Senior Management of the Co mpany 26 March 2021 http://www.cninfo.co m.cn
2021-032 2020 Annual Report Su mmary 26 March 2021 http://www.cninfo.co m.cn
2021-033 Announcement on the 2020 Annual On line Perfo rmance Briefing 26 March 2021 http://www.cninfo.co m.cn
Announcement on the Signing of the Convertible Bond Strategic Cooperation
2021-034 26 March 2021 http://www.cninfo.co m.cn
Framework Agreement
Supplemental Announcement in respect of Resolutions of the Eighth Meeting of the
2021-035 27 March 2021 http://www.cninfo.co m.cn
Ninth Session of the Board of Directors
Shandong Chen ming Paper Ho ldings Limited Announcement on Pay ment of 2021
2021-036 Interest with Respect to the First Tranche of Corporate Bonds Publicly Issued to 31 March 2021 http://www.cninfo.co m.cn
Qualified Investors in 2018
2021-037 Announcement on the Release of Pledge of Shares held by Shareholders 2 April 2021 http://www.cninfo.co m.cn
2021-038 2021 First Quarterly Results Forecast 7 April 2021 http://www.cninfo.co m.cn
2021-039 2021 First Quarterly Report 20 April 2021 http://www.cninfo.co m.cn
Announcement on the Resignation of Employee Representative Supervisors and the
2021-040 20 April 2021 http://www.cninfo.co m.cn
By-election of Supervisors
2021-041 Announcement on Pledge of Shareholders’ Shares 22 April 2021 http://www.cninfo.co m.cn
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2021 Interim Report Summary of Shandong Chenming Paper Holdings Limited
Announcement on the Develop ment of Financing Business and the Provision of
2021-042 30 April 2021 http://www.cninfo.co m.cn
Guarantees
2021-043 Announcement on Receipt of Govern ment Subsidies by Subsidiaries 15 June 2021 http://www.cninfo.co m.cn
2021-044 Announcement on Resolutions of 2020 Annual General Meeting 19 June 2021 http://www.cninfo.co m.cn
2021-045 Announcement in respect of Provision of Guarantee in Favour of a Subsidiary 23 June 2021 http://www.cninfo.co m.cn
Announcement on Resolutions of the Nineteenth Extraord inary Meeting of the Ninth
2021-046 26 June 2021 http://www.cninfo.co m.cn
Session of the Board of Directors
Announcement on Capital Increase and Introduction of Strategic Investors of a
2021-047 26 June 2021 http://www.cninfo.co m.cn
Majority-owned Subsidiary
2021-048 Announcement on the Development of Equip ment Financing Business 26 June 2021 http://www.cninfo.co m.cn
2021-049 Announcement on External Investment 26 June 2021 http://www.cninfo.co m.cn
Announcement in respect of Provision of Guarantee in Favour of Subsidiaries by a
2021-050 26 June 2021 http://www.cninfo.co m.cn
Wholly-owned Subsidiary
Announcement on Receipt of Govern ment Subsidies by the Subsidiary Zhanjiang
2021-051 26 June 2021 http://www.cninfo.co m.cn
Chen ming
2021-052 Announcement on Pledge of Shareholders’ Shares 29 June 2021 http://www.cninfo.co m.cn
5. Introduction of strategic investors by Shouguang Meilun
On 25 June 2021, the 19th extraordinary meeting of the ninth session of the Board of the Company considered and approved the
Proposal on Capital Contribution and Introduction of Strategic Investors of a Majority-owned Subsidiary. The Company introduced
CCB Financial Assets Investment Company Limited (on behalf of the CCB Investment-Shandong Development Debt-to-Equity
Swap Investment Scheme) and SWSC Innovation Investment Co., Ltd. to contribute capital to Shouguang Meilun. CCB Financial
Assets Investment Company Limited (on behalf of the CCB Investment-Shandong Development Debt-to-Equity Swap Investment
Scheme) and SWSC Innovation made a capital contribution amount of RMB1.4 billion and RMB0.2 billion, respectively.
For details, please refer to the relevant announcement (announcement no.: 2021-047) of the Company published on CNINFO on
26 June 2021.
The Board of
Shandong Chenming Paper Holdings Limited
26 August 2021
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