2022 Interim Report Summary of Shandong Chenming Paper Holdings Limited
Stock code: 000488 200488 Stock abbreviation: Chenming Paper Chenming B Announcement No.: 2022-072
2022 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, 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.
Notice of 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 Stock code
晨鸣 B 200488
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
Stock abbreviation before any changes (if any) None
Contact persons and contact methods Secretary to the Board Hong Kong Company Secretary
Name Yuan Xikun Chu Hon Leung
No. 2199 Nongsheng East Road, 22nd Floor, World Wide House,
Correspondence Address
Shouguang City, Shandong Province Central, Hong Kong
Telephone 0536-2158008 00852-21629600
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
The corresponding Increase/decrease for the reporting
The reporting
period of the prior period as compared to the
period
year corresponding period of the prior year
Revenue (RMB) 16,676,428,365.83 17,172,816,354.53 -2.89%
Net profit attributable to shareholders of
230,141,463.76 2,021,095,417.54 -88.61%
the Company (RMB)
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2022 Interim Report Summary of Shandong Chenming Paper Holdings Limited
Net profit after extraordinary gains or
losses attributable to shareholders of the 173,407,927.13 1,964,718,180.70 -91.17%
Company (RMB)
Net cash flows from operating activities
998,264,209.45 4,747,185,521.94 -78.97%
(RMB)
Basic earnings per share (RMB per share) 0.064 0.604 -89.40%
Diluted earnings per share (RMB per
0.064 0.604 -89.40%
share)
Rate of return on weighted average net
1.02% 8.94% Decrease by 7.92 percentage points
assets
Increase/decrease as at the end of the
As at the end of the As at the end of the
reporting period as compared to the
reporting period prior year
end of the prior year
Total assets (RMB) 85,186,581,045.24 82,841,454,602.24 2.83%
Net assets attributable to shareholders of
19,220,377,294.74 19,089,778,227.64 0.68%
the Company (RMB)
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 Company does not exclude the effect on interest of perpetual bonds during the
reporting period. When calculating earnings per share and the rate of return on weighted average net assets, the interest on
perpetual bonds from 1 January 2022 to 30 June 2022 of RMB44,481,369.86 is deducted.
3. Total number of shareholders and shareholdings
Unit: share
170,976, of which 148,205 were holders Total number of holders of preference
Total number of ordinary shareholders as
of A shares, 22,437 were holders of B shares with restored voting right as at 0
at the end of the reporting period
shares and 334 were holders of H shares the end of the reporting period (if any)
Shareholdings of top 10 shareholders
Share pledged, marked or
Number of
Percentage of Number of locked-up
Name of shareholder Nature of shareholder restricted
shareholding shares held Status of
shares held Number
shares
CHENMING HOLDINGS State-owned legal
15.32% 457,322,919 0 Pledged 274,220,000
COMPANY LIMITED person
HKSCC NOMINEES LIMITED Overseas legal person 12.51% 373,381,375 0
CHENMING HOLDINGS
Overseas legal person 12.20% 364,131,563 0
(HONG KONG) LIMITED
NINGBO ASIA PAPER TUBE Domestic non-state-
1.08% 32,120,000 0
& CARTON CO., LTD. owned legal person
Domestic natural
Chen Hongguo 1.04% 31,080,044 23,310,033
person
SHANDONG SUN HOLDINGS Domestic non-state-
0.82% 24,507,117 0
GROUP CO., LTD. owned legal person
HONG KONG SECURITIES
CLEARING COMPANY Overseas legal person 0.54% 16,218,780 0
LIMITED
VANGUARD EMERGING
MARKETS STOCK INDEX Overseas legal person 0.50% 14,819,546 0
FUND
VANGUARD TOTAL
INTERNATIONAL STOCK Overseas legal person 0.50% 14,771,945 0
INDEX FUND
GUOTAI JUNAN SECURITIES
Overseas legal person 0.40% 11,857,746 0
(HONG KONG) LIMITED
A shareholder, Chenming Holdings (Hong Kong) Limited, which is an overseas legal person, is a wholly-owned
subsidiary of a shareholder, Shouguang Chenming Holdings Company Limited, which is a state-owned legal
Related party relationship or
person. A shareholder, Chen Hongguo, is the legal representative, chairman and general manager of Chenming
acting in concert among the
Holdings Company Limited. Save for the above, it is not aware that any other shareholders mentioned above are
above shareholders
persons acting in concert. It is also not aware that any other shareholders mentioned above are related to each
other.
Chenming Holdings Company Limited held 457,322,919 RMB ordinary shares, of which 352,322,919 shares
were held through ordinary account and 105,000,000 shares were held through credit guarantee security account.
Securities margin trading of Ningbo Asia Paper Tube & Carton Co., Ltd. held 32,120,000 RMB ordinary shares, of which no share was held
shareholders, if any through ordinary account and 32,120,000 shares were held through credit guarantee security account. Shandong
Sun Holdings Group Co., Ltd. held 24,507,117 RMB ordinary shares, of which no share was held through
ordinary account and 24,507,117 shares were held through credit guarantee security account.
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2022 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
There was no shareholding by 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
(1) Basic information on bonds
Outstanding
Bond Bond amount of Interest
Name of bond Issue date Maturity date
abbreviation code the bonds rate
(RMB’0,000)
The public issuance of the corporate bonds of
18 Chenming 29 March
Shandong Chenming Paper Holdings Limited 112641 2 April 2023 35,000 6.50%
Bond 01 2018
to qualified investors in 2018 (phase I)
(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 72.89% 72.78%
Current ratio 65.50% 65.05%
Quick ratio 58.10% 54.59%
Item The reporting period The corresponding period of the prior year
EBITDA interest coverage ratio 2.72 4.00
Net profit after extraordinary gains or
17,340.79 196,471.82
losses
Proportion of EBITDA to total debts 4.25% 8.97%
Interest coverage ratio 1.33 2.99
Cash interest coverage ratio 2.11 4.70
Loans payment ratio 100% 100%
Interest payment ratio 100% 100%
III. Matters of significance
1. Recognition of the Company and its subsidiaries as high and new technology enterprises
The Company and its subsidiaries Shouguang Meilun and Zhanjiang Chenming have been recognised again as high and new
technology enterprises upon expiry of their original high and new technology enterprise certificates. The certificate numbers are
GR202137005666, GR202137005468 and GR202144001212, respectively, each with a valid term of three years. According to the
Law of the People’s Republic of China on Enterprise Income Tax and the relevant tax policies of the PRC for high and new
technology enterprises, the Company, Shouguang Meilun and Zhanjiang Chenming are subject to an enterprise income tax rate of
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2022 Interim Report Summary of Shandong Chenming Paper Holdings Limited
15% under the preferential income tax policy for high and new technology enterprises for three years (i.e. 2021 to 2023) from the
year in which they are recognised as high and new technology enterprises.
For details, please refer to the relevant announcement (announcement no.: 2022-002) of the Company published on CNINFO
on 11 February 2022.
2. Election of new session of the Board and the Supervisory Committee
At the 2022 first extraordinary general meeting of the Company held on 15 June 2022, the Resolution in Relation to the
Election of Candidates for Non-independent Directors of the Tenth Session of the Board, the Resolution in Relation to the Election
of Candidates for Independent Non-executive Directors of the Tenth session of the Board and the Resolution in Relation to the
Election of Candidates for Shareholder Representative Supervisors of the Tenth Session of the Supervisory Committee were
considered and approved. Mr. Chen Hongguo, Mr. Hu Changqing, Mr. Li Xingchun, Mr. Li Feng and Mr. Li Weixian were
elected as the executive Directors of the tenth session of the Board of the Company; Mr. Han Tingde and Mr. Li Chuanxuan were
elected as the non-executive Directors of the tenth session of the Board of the Company; Mr. Li Zhihui, Mr. Sun Jianfei, Mr. Yang
Biao and Ms. Yin Meiqun were elected as the independent non-executive Directors of the tenth session of the Board of the
Company; and Ms. Li Kang, Ms. Pan Ailing and Ms. Zhang Hong were elected as the shareholder representative Supervisors of
the tenth session of the Supervisory Committee of the Company. On the same date, the Company held the fourth meeting of the
tenth session of the staff representative meeting, at which Ms. Qiu Lanju and Ms. Sang Ailing were elected as the staff
representative Supervisors of the tenth session of the Supervisory Committee of the Company; the Company held the first meeting
of the tenth session of the Board and the first meeting of the tenth session of the Supervisory Committee, at which Mr. Chen
Hongguo was elected as chairman of the Board, Mr. Hu Changqing and Mr. Li Xingchun were elected as vice chairmen of the
Board, and Ms. Li Kang was elected as chairman of the Supervisory Committee. The election of the new session of the Board and
the Supervisory Committee of the Company was completed.
For details, please refer to the relevant announcements (announcement no.: 2022-049, 2022-050, 2022-051 and 2022- 052) of
the Company published on CNINFO on 16 June 2022.
3. Disclosure index for 2022 interim report
Announcement
Subject matter Date of publication Publication website and index
No.
Announcement on the Continued Pledge of Shares held by
2022-001 15 January 2022 http://www.cninfo.com.cn
Shareholders
Announcement on the Recognition of the Company and its
2022-002 11 February 2022 http://www.cninfo.com.cn
Subsidiaries as High and New Technology Enterprises
Announcement on the Development of Equipment Financing
2022-003 24 February 2022 http://www.cninfo.com.cn
Business by a Subsidiary
The First Indicative Announcement on Adjustment of Coupon Rate
2022-004 of “18 Chenming Bond 01” and Implementation Measures for Resale 25 February 2022 http://www.cninfo.com.cn
by Investors
The Second Indicative Announcement on Adjustment of Coupon
2022-005 Rate of “18 Chenming Bond 01” and Implementation Measures for 1 March 2022 http://www.cninfo.com.cn
Resale by Investors
The Third Indicative Announcement on Adjustment of Coupon Rate
2022-006 of “18 Chenming Bond 01” and Implementation Measures for Resale 3 March 2022 http://www.cninfo.com.cn
by Investors
Announcement on Pledge of Shares and Partial Release of Pledge of
2022-007 12 March 2022 http://www.cninfo.com.cn
Shares by Shareholders
Announcement on the Development of Equipment Financing
2022-008 14 March 2022 http://www.cninfo.com.cn
Business by a Subsidiary
2022-009 Announcement on the 2021 Annual Online Performance Briefing 28 March 2022 http://www.cninfo.com.cn
Announcement on the Development of Equipment Financing
2022-010 29 March 2022 http://www.cninfo.com.cn
Business by a Subsidiary
Announcement on Resolutions of the Twelfth Meeting of the Ninth
2022-011 31 March 2022 http://www.cninfo.com.cn
Session of the Board of Directors
Announcement on Resolutions of the Twelfth Meeting of the Ninth
2022-012 31 March 2022 http://www.cninfo.com.cn
Session of the Supervisory Committee
2022-013 Notice of 2021 Annual General Meeting 31 March 2022 http://www.cninfo.com.cn
2022-014 2021 Annual Report Summary 31 March 2022 http://www.cninfo.com.cn
2022-015 Special Statement on Securities Investment in 2021 31 March 2022 http://www.cninfo.com.cn
2022-016 Announcement on Appointment of Auditor for 2022 31 March 2022 http://www.cninfo.com.cn
Announcement on the Expected Continuing Related Party
2022-017 31 March 2022 http://www.cninfo.com.cn
Transaction in 2022
Announcement on the Development of Equipment Financing
2022-018 31 March 2022 http://www.cninfo.com.cn
Business
Announcement on Carrying out Factoring Business of Accounts
2022-019 31 March 2022 http://www.cninfo.com.cn
Receivable
Announcement on Expected Provision of Guarantees to Subsidiaries
2022-020 31 March 2022 http://www.cninfo.com.cn
for 2022
Special Statement on the Proposed Non- Distribution of Profit for
2022-021 31 March 2022 http://www.cninfo.com.cn
2021
2022-022 Announcement on the Amendments to the Company’s Relevant 31 March 2022 http://www.cninfo.com.cn
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2022 Interim Report Summary of Shandong Chenming Paper Holdings Limited
Systems
2022-023 Announcement on the Provision of External Guarantees 31 March 2022 http://www.cninfo.com.cn
2022-024 Announcement on Loan Transfer and Related Party Transaction 31 March 2022 http://www.cninfo.com.cn
Announcement on Results of Resale by Bondholders of “18
2022-025 31 March 2022 http://www.cninfo.com.cn
Chenming Bond 01”
Shandong Chenming Paper Holdings Limited Announcement on
2022-026 Payment of 2022 Interest with Respect to the First Tranche of 31 March 2022 http://www.cninfo.com.cn
Corporate Bonds Publicly Issued to Qualified Investors in 2018
2022-027 Announcement on Receipt of Government Subsidies by Subsidiaries 1 April 2022 http://www.cninfo.com.cn
Announcement on the Proposed Resale of “18 Chenming Bond 01”
2022-028 7 April 2022 http://www.cninfo.com.cn
Sale-back Bonds
Announcement on Pledge of Shares and Partial Release of Pledge of
2022-029 21 April 2022 http://www.cninfo.com.cn
Shares by Shareholders
2022-030 2022 First Quarterly Report 30 April 2022 http://www.cninfo.com.cn
Announcement on the Results of Resale of “18 Chenming Bond 01”
2022-031 10 May 2022 http://www.cninfo.com.cn
Bonds
2022-032 Announcement on Resolutions of 2021 Annual General Meeting 12 May 2022 http://www.cninfo.com.cn
Announcement on Resolutions of the Twenty-fourth Extraordinary
2022-033 24 May 2022 http://www.cninfo.com.cn
Meeting of the Ninth Session of the Board of Directors
Announcement on Resolutions of the Seventh Extraordinary Meeting
2022-034 24 May 2022 http://www.cninfo.com.cn
of the Ninth Session of the Supervisory Committee
2022-035 Declaration by Nominator of Independent Director (Li Zhihui) 24 May 2022 http://www.cninfo.com.cn
2022-036 Declaration by Nominator of Independent Director (Sun Jianfei) 24 May 2022 http://www.cninfo.com.cn
2022-037 Declaration by Nominator of Independent Director (Yang Biao) 24 May 2022 http://www.cninfo.com.cn
2022-038 Declaration by Nominator of Independent Director (Yin Meiqun) 24 May 2022 http://www.cninfo.com.cn
2022-039 Declaration by Candidate for Independent Director (Li Zhihui) 24 May 2022 http://www.cninfo.com.cn
2022-040 Declaration by Candidate for Independent Director (Sun Jianfei) 24 May 2022 http://www.cninfo.com.cn
2022-041 Declaration by Candidate for Independent Director (Yang Biao) 24 May 2022 http://www.cninfo.com.cn
2022-042 Declaration by Candidate for Independent Director (Yin Meiqun) 24 May 2022 http://www.cninfo.com.cn
Announcement on the Purchase of Liability Insurance for Directors,
2022-043 24 May 2022 http://www.cninfo.com.cn
Supervisors and Senior Management
2022-044 Notice of the First Extraordinary General Meeting of 2022 24 May 2022 http://www.cninfo.com.cn
2022-045 Announcement on Credit Rating Adjustment 30 May 2022 http://www.cninfo.com.cn
Announcement on Resolutions of the Twenty-fifth Extraordinary
2022-046 31 May 2022 http://www.cninfo.com.cn
Meeting of the Ninth Session of the Board of Directors
Notice on Cancellation of Certain Resolutions of 2022 First
2022-047 Extraordinary General Meeting and Supplementary Notice of the 31 May 2022 http://www.cninfo.com.cn
General Meeting
2022-048 Announcement on Receipt of Government Subsidies by Subsidiaries 1 June 2022 http://www.cninfo.com.cn
Announcement on Resolutions of the First Extraordinary General
2022-049 16 June 2022 http://www.cninfo.com.cn
Meeting of 2022
Announcement on the Election of Employee Representative
2022-050 16 June 2022 http://www.cninfo.com.cn
Supervisors
Announcement on Resolutions of the First Meeting of the Tenth
2022-051 16 June 2022 http://www.cninfo.com.cn
Session of the Board of Directors
Announcement on Resolutions of the First Meeting of the Tenth
2022-052 16 June 2022 http://www.cninfo.com.cn
Session of the Supervisory Committee
2022-053 Announcement on the Progress of Litigation 21 June 2022 http://www.cninfo.com.cn
Announcement on the Continued Pledge of Shares held by
2022-054 28 June 2022 http://www.cninfo.com.cn
Shareholders
Announcement on Resolutions of the First Extraordinary Meeting of
2022-055 28 June 2022 http://www.cninfo.com.cn
the Tenth Session of the Board
Announcement on Capital Increase and Introduction of Strategic
2022-056 28 June 2022 http://www.cninfo.com.cn
Investors of a Majority-owned Subsidiary
4. Introduction of strategic investors by Zhanjiang Chenming
On 27 June 2022, the first extraordinary meeting of the tenth 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. Given the
recognition of Zhanjiang Chenming for its bright development prospect, Xiamen International Trade Industry Development Equity
Investment Fund Partnership (Limited Partnership) made capital contribution to Zhanjiang Chenming in the amount of RMB400
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2022 Interim Report Summary of Shandong Chenming Paper Holdings Limited
million, of which RMB266,351,374 was included in the registered capital and the remaining RMB133,648,626 was included in the
capital reserve.
For details, please refer to the relevant announcements (announcement no.: 2022-055 and 2022-056) of the Company
published on CNINFO on 28 June 2022.
The Board of Shandong Chenming Paper Holdings Limited
30 August 2022
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