晨鸣Ｂ:2021年年度报告摘要（英文版）

2021 Annual Report Summary of Shandong Chenming Paper Holdings Limited

Stock code: 000488 200488 Stock abbreviation: Chenming Paper Chenming B Announcement No.:2022-014

2021 Annual Report Summary of

Shandong Chenming Paper Holdings Limited

I. IMPORTANT NOTICE

This annual report summary is extracted from the text of the annual report. For the full understanding of the operating results

financial position and plan for further development investors should carefully read the text of the annual report published on the

media as designated by the CSRC.All directors have attended the board meeting to review this annual report in person.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 proposes not to distribute cash dividend issue bonus share or capitalise from capital reserves

A proposed profit distribution plan on preference shares for the reporting period was considered and approved by the Board

□ Applicable √ Not applicable

II. BASIC INFORMATION ABOUT THE COMPANY

1. Company profile

晨鸣纸业000488

Stock abbreviation Stock code

晨鸣 B 200488

Stock exchange on which

Shenzhen Stock Exchange

the shares are listed

Stock abbreviation CHENMING PAPER Stock code 01812

Stock exchange on which

The Stock Exchange of Hong Kong Limited

the shares are listed

Contact persons and

Secretary to the Board Hong Kong Company Secretary

contact methods

Name Yuan Xikun Chu Hon Leung

No. 2199 East Nongsheng Road Shouguang City 22nd Floor World Wide House Central Hong

Correspondence address

Shandong Province Kong

Facsimile 0536-2158977 00852-25010028

Telephone 0536-2158008 00852-21629600

Email address chenmmingpaper@163.com liamchu@li-partners.com

2. Overview of principle activities or products during the reporting period

The Company is a large modern conglomerate principally engaged in pulp production and paper making. Its key indicators in

respect of business and economic efficiency have been in a leading position in the industry in China for over 20 consecutive years.The Company has been on the Fortune 500 China list for 12 years. During the reporting period the machine-made paper business is

the major source of revenue and profit of the Company and there was no significant change in the principal activities of the

Company.

1. Business overview

Taking “revitalising the Chinese papermaking industry” as its mission the Company has been adhering to the general keynote

of green low-carbon recycling and sustainable development and committing itself to implementing a pulp and paper integration

strategy. At present the Company has 6 production bases in Shandong Guangdong Hubei Jiangxi Jilin and other places with

annual pulp and paper production capacity of more than 11 million tonnes. It is one of the domestic paper making enterprises that

12021 Annual Report Summary of Shandong Chenming Paper Holdings Limited

achieves a balance between paper making and pulp production capacity.During the reporting period in the face of the complex domestic and international market economic environment and various

challenges against the backdrop of normalisation of epidemic prevention and control all cadres and employees of the Company

pulled together to address the difficulties improve efficiency reduce costs ensure the steady progress of the Company‘s production

and operation and continuously improve the operating quality and profitability of the Company. In 2021 the Company completed

the production of machine-made paper of 5.50 million tonnes and achieved sales of 5.45 million tonnes representing a year-on-year

decrease of 4.74% and 2.73% respectively. The Company realised revenue of RMB33020 million representing a year-on-year

increase of 7.43%. Total profit and net profit attributable to equity holders of the Company were RMB2306 million and RMB2066

million respectively up by 6.16% and 20.65% year on year.

2. Products

As a leading player in the papermaking industry of China the Company adopts the market-oriented approach attaches great

importance to technology research and development and brand benefits and boasts the largest and most advanced pulping and

papermaking production lines in the world with machine-made paper products covering more than 200 types in seven series

including cultural paper coated paper white cardboard copy paper industrial paper special paper and household paper. The

Company owns “BIYUNTIAN” “GOLDEN MINGYANG” “CHENMING CLOUDY MIRROR” “CHENMING CLOUDLYLION” “CHENMING SNOW SHARK” “CHENMING EAGLE” “CHENMING GONGHAO” “XINGZHILIAN” and other

famous brands with each major product ranking among the highest in terms of market share in China.Major production

Category Major brands and types Range of application

companies

1. “BIYUNTIAN” “CLOUDY MIRROR”

“CLOUDY LEOPARD” and “YUNJIN”

all-wood pulp offset paper and electrostatic

base paper

2. “CLOUDY LION” and “CLOUDY

Shouguang Headquarters Printing publications textbooksCultural CRANE” original white offset paper

Zhanjiang Chenming magazines covers illustrations

paper 3. “CLOUDY PINE” and “GREEN PINE” light

Wuhan Chenming notebooks test papers teaching

series weight paper

Jilin Chenming materials reference books etc.

4. Blueprint paper colour offset paper pure

texture paper non-fluorescent offset paper PE

offset paper

5. Beige and high white book paper

6. Light weight coated paper

Double-sided coated paper is

suitable for high quality printing

such as high-grade picture albums

picture magazines and so on

promotional materials such as

interior pages of high-end books

1. “SNOW SHARK” and “EAGLE” one-sided

wall calendars posters and so on

coated paper

Coated and suitable for suitable for

2. “SNOW SHARK” “EAGLE” and Shouguang Headquarters

paper high-speed sheet printing and

“RABBIT” double-sided coated paper Shouguang Meilun

series high-speed rotary printing;

3. “EAGLE” and “RABBIT” matte coated

One-sided coated paper is suitable

paper

for upscale tobacco package paper

adhesive sticker shopping bags

slipcases envelopes gift wrapping

and so on and suitable for large

format printing and commercial

printing.

1. White cardboard of “LIYA” series white

cardboard and ivory cardboard of “LIPIN” and

High-end gift boxes cosmetics

“POPLAR” series high bulk cardboard and

boxes tags shopping bags

ivory cardboard of “LIZZY” and “BAIYU”

publicity pamphlets high-end

White series and super high bulk cardboard of Shouguang Headquarters

postcards; cigarette package

cardboard “LIYING” and “BAIYU” series Jiangxi Chenming

printing of medium and high

series 2. Food package board of “LIYA” and Zhanjiang Chenming

quality; milk package beverage

“LIZZY” series

package disposable paper cups

3. Coated cattle card and LIYA book card

milk tea cups and noodle bowls.

4. Playcard paper board

5. Chenming cigarette cardboard

“GOLDEN MINGYANG” and “GOLDENCHENMING” copy paper “BOYA” and

Copy Printing and copying business

“BIYUNTIAN” copy paper “MINGYANG” Shouguang Meilun

paper documents training materials and

“LUCKY CLOUDS” “BOYANG” and Zhanjiang Chenming

series writing.“SHANYIN” copy paper and “GONGHAO”

and “TIANJIAN” copy paper

22021 Annual Report Summary of Shandong Chenming Paper Holdings Limited

Anti-stick base paper is mainly used

for producing the paper base of

Shouguang Headquarters stripping paper or anti-sticking base

Industrial High-grade yellow anti-sticking base paper

Wuhan Chenming paper;

paper ordinary yellow/white anti-sticking base paper

Jiangxi Chenming Cast coated base paper is suitable

series and PE paper

Zhanjiang Chenming for producing adhesive paper or

playcard compound paper after

coating.High-grade adhesive backing paper

Special

Shouguang Art Paper for electronics medicine food

paper Thermal paper and glassine paper

Wuhan Chenming washing supplies supermarket

series

labels double-sided tapes etc.Daily toilet supplies; used in

restaurants and other catering

Househol

Toilet paper facial tissue pocket tissue napkin Shouguang Meilun industries and used in public toilets

d paper

paper towels and “XINGZHILIAN” Wuhan Chenming in hotels guesthouses and office

series

buildings and also suitable for

home and other environment.

3. Operation model

(1) Purchase model

The Company has established a supply chain management centre which adopts a supply chain management model of

“centralised procurement by the Group source as the first priority hierarchical separation and one-vote veto”. Through continuous

improvement of the procurement information system the Company has fully realised machine control management and optimised

the authorisation approval process effectively standardising the procurement management system. Based on the needs of production

bases the Group integrates the resources of related parties and implements centralised procurement. The Company seeks sources and

high-quality suppliers through industry exhibitions on-site inspections and competitive factory research to strengthen procurement at

source and reduce procurement costs; and introduces a supplier competition mechanism by establishing a three-level joint review

mechanism for suppliers and implementing a system of eliminating substandard suppliers so as to improve supply quality.Meanwhile the Company actively cooperates with financial institutions and third parties in the supply chain financial business and

fully utilises the funds from contributing parties to lower procurement costs deepen strategic cooperation and enhance supply chain

competitiveness.

(2) Production modelThe Company has committed itself to implementing a pulp and paper integration strategy. Adhering to the concept of “placinggreen development and environmental protection as its priority” the Company has actively promoted clean production and

vigorously carried out energy conservation and emission reduction aiming to be a resource-saving and environmentally friendly

model enterprise. It is innovating an integrated use of resources and a circular industrial development mode and an “ecological chain”

featuring resources products and recycled resources has been established. As for production process the Company takes planned

management as the focus and implements a hierarchical planned management model for the Group the Company factories and

workshops. Its production volume is determined based on the sales its production is arranged scientifically and its inventories are

under strict control. The Group has set up a production scheduling centre to monitor the operation of the production lines of each

subsidiary around the clock on a real-time basis so as to ensure normal production. It has actively built and promoted the MES

management system and realised the timely information transfer between the management and the production control unit through

bridging the gap between the ERP and DCS systems.

(3) Marketing model

The Company has always adhered to the marketing concept of “Good faith Win-Win and Sharing” while wholeheartedly

serving its customers. The Company has a relatively mature sales network and has set up specialised sales companies responsible for

the development of domestic and overseas markets product sales and formulation of sales policies. The sales companies’

management systems are divided into product lines product companies management areas and branches to achieve matrix

management. The sales companies are divided into product companies of cultural paper series coated paper series white cardboard

series electrostatic paper series special paper series and household paper series according to product line. Each product company has

its administrative district. A regional general manager is responsible for his/her administrative district under which branch

companies are set up. The chief representatives of the branch companies have full authority to deal with branch business.The Company has implemented a three-level scheduling mechanism. Branch companies administrative districts and salescompanies schedule task indicators daily to ensure the effective implementation of the plans. It sticks to a “four-level visitmechanism” to gain deep market insights and meet customer needs. Meanwhile by leveraging its comprehensive information

systems the Company has realised It-based management. It has also established and improved the complaint handling system and

customer satisfaction system to enhance the Company’s marketing management level.

(4) R&D Mode

The Company is market-oriented and innovation is it driving force. It highly values technological R&D and has formed a

variety of R&D modes such as independent R&D technology introduction and industry university-research cooperation. At present

the Company has a number of domestically leading innovative R&D platforms including the national enterprise technology centre

the post-doctoral working station the state certified CNAS pulp and paper testing centre Shandong Pulp and Paper Making

Engineering Lab and the Guangdong Pulp and Paper Production Technology Research Centre which have enhanced its independent

innovation capabilities. Meanwhile on the basis of introducing internationally advanced pulp and paper production lines and

32021 Annual Report Summary of Shandong Chenming Paper Holdings Limited

advanced technologies the Company has made technological improvements and re-innovations and established new standards for

processes and product quality forming distinctive core technologies. The Company also works hard on the following aspects:

carrying out academic research with colleges and universities and R&D institutions such as Qilu University of Technology Qingdao

University of Science and Technology Tianjin University of Science and Technology and Institute of Chemical Industry of Forest

Products of the Chinese Academy of Forestry introducing digesting and absorbing scientific research and innovation achievements

accelerating the industrialisation of new and high technologies optimising product mix and improving the competitiveness of its

products in the market.

4. The position of the company in the industry during the reporting period

2021 was the first year for China to build a new development pattern. In the face of multiple challenges such as the complicated

and severe international environment and sporadic and repeated local pandemic outbreaks all regions and departments strictly

implemented the decisions and arrangements made by the CPC Central Committee and the State Council scientifically coordinated

pandemic prevention and control and economic and social development. China’s economy experienced sustained and stable

recovery and made new achievements in high-quality development marking a good start for the 14th Five-Year Plan. As an

important basic raw material industry closely related to the national economy and social development the paper making industry in

the first half of 2021 improved its returns significantly due to the boost of upstream raw material costs the recovery of downstream

demand and the paper product price rise. Although the overall prosperity of the paper making industry was frustrated and the profit

growth rate declined since the third quarter the paper making industry in general maintained steady growth during the reporting

period. According to the data of the National Bureau of Statistics the paper making and paper product industrial enterprises above

designated size realised total profit of RMB88.48 billion representing a year-on-year increase of 6.9%.Focusing on the principal business of pulp production and paper making the Company has made a strategic layout in the whole

industrial chain and built three major product bases with Shouguang in the north Huanggang in the middle and Zhanjiang in the

south. It has become the first pulp and paper integration enterprise in China with basically balanced pulp and paper production

capacity and is ranked among the top 10 in the world in terms of paper and paperboard output commanding a leading position in the

industry. The Company attaches great importance to technology research and development and product service quality continuously

develops high-grade and high value-added products leads the market direction and becomes the enterprise with the largest and most

complete product varieties in the paper making industry with a leading market share for its principal products in China. During the

reporting period the Company continuously promoted high-quality development winning over 20 awards which reflected the high

recognition of the Company from all walks of life including Top 500 Chinese Enterprises Top 500 Manufacturers in the PRC

Fortune China 500 Top 10 Enterprises in the PRC Light Industry – Paper Sector Shandong Province High-end Brand Continuous

Cultivation Enterprise Shandong Province Governor Quality Award Nomination Award 2021 Shandong Province Science and

Technology Leading Enterprise “Top Ten Enterprises” of Shandong Paper Association.In the future the Company will remain true to its original aspiration and forge ahead continue to focus on its principal business

and strengthen the industry and focus on the construction of Huanggang Chenming production base. It will give full play to the core

advantages of its whole industrial chain layout comprehensively improve the corporate management level and operation quality and

enhance the enterprise‘s ability to resist risks so that the Company can achieve steady progress in economic benefits have

far-reaching development and strive to build a world-class enterprise group with global competitiveness making greater

contributions to the development of the paper making industry!

3. Major accounting data and financial indicators

(1) Major accounting data and financial indicators of the last three years

Retrospective adjustment to or restatement of the accounting data for prior years by the Company

□Yes √No

Unit: RMB

Increase/decrease as

As at the end of As at the end of at the end of the year As at the end of

2021 2020 compared to the end 2019

of the prior year

Total assets 82841454602.24 91575457828.62 -9.54% 97958909935.15

Net assets attributable to shareholders

19089778227.6424276968789.00-21.37%25169743863.75

of the Company

Increase/decrease for

2021 2020 the year as compared 2019

to the prior year

Revenue 33019812294.14 30736517996.90 7.43% 30395434073.35

Net profit attributable to shareholders

2065513108.711712029078.5220.65%1656566584.88

of the Company

Net profit after extraordinary gains or

losses attributable to shareholders of 1743876537.12 1119103808.75 55.83% 702329086.29

the Company

Net cash flows from operating

8581888192.6411259802676.28-23.78%12232707222.94

activities

42021 Annual Report Summary of Shandong Chenming Paper Holdings Limited

Basic earnings per share (RMB per

0.560.3655.56%0.33

share)

Diluted earnings per share (RMB per

0.560.3655.56%0.33

share)

Rate of return on weighted average net Increased by 3.76

9.60%5.84%5.57%

assets percentage points

Data specification: The net profit attributable to shareholders of the Company does not exclude the effect of the interest payment

deferred and accumulated to subsequent periods for Perpetual Bonds under other equity instruments and the effect of the dividends

on Preference Shares under other equity instruments that have been considered and approved for distribution. When calculating

financial indicators such as earnings per share and rate of return on weighted average net assets the interest on Perpetual Bonds of

RMB89700000.00 the dividends on Preference Shares of RMB323390968.66 declared to be distributed and the cash dividends of

RMB14202450.00 attributable to the shareholders of restricted shares expected to be unlocked in the future among the dividends

distributed during the reporting period are deducted.

(2) Key Major Accounting Data by Quarter

Unit: RMB

Q1 Q2 Q3 Q4

Revenue 10205724007.89 6967092346.64 8 588800889.56 7 258195050.05

Net profit attributable to shareholders of the Company 1179076577.84 842018839.70 161233847.41 -116816156.24

Net profit after extraordinary gains or losses attributable

1165076739.34799641441.36-9419328.18-211422315.40

to shareholders of the Company

Net cash flows from operating activities 3386890222.27 1360295299.67 2 479120720.53 1 355581950.17

Whether the above indicators or their aggregated amounts have any material difference with the respective amounts as disclosed in

the quarterly report or interim report

□ Yes √ No

4. Shareholders and shareholdings

(1) Table of the number of shareholders of ordinary shares and shareholders of preference shares with

voting rights restored and shareholding of top ten shareholders

Unit: Shares

Total number of

175747 of holders of

183981 of which Total number of Total number of

which 153135 Preference Shares

Total number of 161495 were ordinary holders of

were holders of with restored voting

ordinary holders of A shares shareholders as at Preference Shares

A shares 22279 right as at the end

shareholders as 22152 were holders the end of the with restored voting 0 0

were holders of of the month prior

at the end of the of B shares and 334 month prior to the right as at the end of

B shares and 333 to the disclosure

reporting period were holders of H publication date of the reporting period

were holders of date of the annual

shares this annual report (if any) (Note VIII)

H shares report (if any) (Note

VIII)

Shareholdings of shareholders interested in more than 5% of the shares of the Company or Top 10 shareholders

Number of shares Number of Share pledged or locked-up

Nature of Percentage of

Name of shareholders held at the end of the restricted

shareholders shareholding Status of shares Number

reporting period shares held

CHENMING HOLDINGS State-owned legal

15.32% 457322919 0 Pledged 255150000

COMPANY LIMITED person

Overseas legal

HKSCC NOMINEES LIMITED 12.52% 373506375 0

person

CHENMING HOLDINGS (HONG Overseas legal

12.20%3641315630

KONG) LIMITED person

Domestic natural

Chen Hongguo 1.04% 31080044 23310033

person

Domestic

SHANDONG SUN HOLDINGS

non-state-owned 0.55% 16387817 0

GROUP CO. LTD.legal person

VANGUARD TOTAL

Overseas legal

INTERNATIONAL STOCK INDEX 0.50% 14771945 0

person

FUND

HONG KONG SECURITIES Overseas legal

0.47%140609710

CLEARING COMPANY LIMITED person

VANGUARD EMERGING Overseas legal

0.47%140136460

MARKETS STOCK INDEX FUND person

GOLDMAN SACHS INTL Overseas legal 0.39% 11687819 0

52021 Annual Report Summary of Shandong Chenming Paper Holdings Limited

person

MORGAN STANLEY & CO. Overseas legal

0.37%110418830

INTERNATIONAL PLC person

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

Related party relationship or acting in legal person; A shareholder Chen Hongguo is the legal representative chairman and general manager of

concert among the above shareholders Chenming Holdings Company Limited. 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.Chenming Holdings Company Limited held 457322919 RMB ordinary shares of which

368522919 shares were held through ordinary account and 88800000 shares were held through

Securities margin trading of top

credit guarantee security account.ten ordinary Shareholders (if any)

SHANDONG SUN HOLDINGS GROUP CO. LTD. held 16387817RMB ordinary shares of which no

(Note IV)

share was held through ordinary account and 16387817shares were held through credit guarantee

security account.

(2) Table of the total number of shareholders of preference shares of the Company and shareholding of top

ten shareholders of preference shares

□ Applicable √ Not applicable

The Company had no preference shareholder holdings during the reporting period.

(3) Chart illustrating the relationship between the Company and the beneficial controller

5. Situation of bonds in existence on the date of approval of the annual report

√Applicable □Not applicable

（1）Basic information on the Bond

Outstanding amount Interest

Name of bond Bond abbreviation Bond code Issue date Maturity date

of the bonds(0’000) rate

The public issuance of the Corporate 18 Chenming

112641 29 March 2018 2 April 2023 35000 7.60%

Bonds of Shandong Chenming Paper Bond 01

62021 Annual Report Summary of Shandong Chenming Paper Holdings Limited

Holdings Limited to qualified

investors in 2018 (phase I)During the reporting period the Company implemented the resale of the corporate bonds “17Chenming Bond 01” in accordance with the Prospectus and completed the payment of principal

and interest and delisting of “17 Chenming Bond 01” on 23 August 2021. For details please refer

to the Announcement on Payment of 2021 Interest with respect to the First Tranche of CorporatePayment of interest on corporate Bonds Publicly Issued to Qualified Investors in 2017 and Announcement on “17 Chenming Bondbonds during the reporting 01” Resale Result and Delisting disclosed on 19 August 2021.period

The Company completed the interest payment of “18 Chenming Bond 01” on 2 April 2021. For

details please refer to the Announcement on Payment of 2021 Interest with Respect to the First

Tranche of Corporate Bonds Publicly Issued to Qualified Investors in 2018 disclosed on 31 March

2021.

(2) Latest track rating of and rating movements in bondOn 25 May 2021 China Chengxin International Credit Rating Co. Ltd. (China Chengxin International) issued the “Follow-upRating Report” (2021) with Respect to the First Tranche of Corporate Bonds Publicly Issued to Qualified Investors in 2017”. The

credit rating of the company’s “17 Chenming Bond 01” is AA+ and the main credit rating of the company is AA+ and the rating

outlook is negative. For details please refer to the company’s announcement dated 26 May 2021 on Juchao Information Network.On 25 May 2021 China Chengxin International issued the “Follow-up Rating Report” (2021) with Respect to the First Trancheof Corporate Bonds Publicly Issued to Qualified Investors in 2018” which assessed the Company’s “18 Chenming Bond 01” credit

rating as AA+. The main credit rating of the Company is AA+ and the rating outlook is negative. For details please refer to the

announcement of the Company 26 May 2021 on Juchao Information Network.There were no adjustments to the Company's credit rating results during the reporting period.

(3) Major accounting data and financial indicators of the Company over the past two years as at the end of

the reporting period

Unit: RMB0’000

As at the end of the As at the end of Increase/decrease as at the end of the reporting

Item

reporting period the prior year period as compared to the end of the prior year

Current ratio 65.05% 70.29% -5.24%

Gearing ratio 72.78% 71.83% 0.95%

Quick ratio 54.59% 60.23% -5.64%

Net profit after extraordinary gains or losses 174387.65 111910.38 55.83%

Proportion of EBITDA to total debts 13.43% 12.22% 1.21%

Interest coverage ratio 2.12 1.96 8.16%

Cash interest coverage ratio 4.45 4.71 -5.52%

EBITDA interest coverage ratio 3.32 3.02 9.93%

Loans payment ratio 100.00% 100.00% 0.00%

Interest payment ratio 100.00% 100.00% 0.00%

Note: EBITDA=Total profit+interest expenses-interest income+depreciation of fixed assets+amortisation of investment

property+amortisation of intangible assets+amortisation of long-term prepaid expenses

III. Other 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 (B-to-H Conversion)

On 29 January 2021 and 9 March 2021 the Company held the seventeenth extraordinary meeting of the ninth session of the

Board and 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

72021 Annual Report Summary of Shandong Chenming Paper Holdings Limited

by the China Securities Regulatory Commission stating that it had decided to accept the administrative license application.On 6 August 2021 the Company disclosed the Announcement of 2020 Dividend Distribution Implementation for A Shares and

B Shares. The dividend on B Shares would be paid in Hong Kong dollar at the medium exchange rate of Renminbi to Hong Kong

dollar (HK$: RMB = 1: 0.8315) as announced by the People’s Bank of China on 21 June 2021 and a dividend of approximately

HK$0.222 per share would be distributed to the holders of B Shares. According to the relevant mandates from 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 of the Company the cash option cash consideration was adjusted from HK$3.33/share to

HK$3.11/share upon ex-dividend.On 12 November 2021 China Securities Regulatory Commission approved the conversion of 706385266 domestic-listed

foreign shares into overseas-listed shares by the Company and their listing on the Main Board of the Hong Kong Stock Exchange.For details please refer to the relevant announcements (announcement no.: 2021-003 2021-018 2021-053 2021-074 and

2021-094) of the Company published on CNINFO on 30 January 10 March 1 July 19 August and 23 November in 2021.

2. Full redemption of 45 million 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 Preference Shares and agreed to the Company redeeming in full 22.5

million first-tranche Preference Shares with the redeeming price being the par value of the Preference Shares (RMB100 per share)

plus current resolved payment of but unpaid fixed dividends. The accounting date of the redemption amount was the date of

distribution of fixed dividends of the Preference Shares. The independent Directors provided independent opinions.On 17 March 2021 the Company entrusted the Shenzhen Branch of China Securities Depository and Clearing Corporation

Limited to pay shareholders of the first-tranche Preference Shares a total of RMB2348100000 in full to redeem all the 22.5 million

first-tranche Preference Shares in issue of the Company and such Preference Shares were delisted from the Shenzhen Stock

Exchange on 18 March 2021.On 15 July 2021 the Company held the twentieth extraordinary meeting of the ninth session of the Board to consider and

approve the Resolution on Redemption of the Second-tranche and Third-tranche Preferred Shares and agreed to the Company

redeeming in full 10 million second-tranche Preference Shares and 12.5 million third-tranche Preference Shares with the redeeming

price being the par value of the Preference Shares (RMB100 per share) plus current resolved payment of but unpaid fixed dividends.The accounting date of the redemption amount was the date of distribution of fixed dividends of the Preference Shares. The

independent Directors provided independent opinions.On 16 August 2021 the Company entrusted the Shenzhen Branch of China Securities Depository and Clearing Corporation

Limited to pay shareholders of the second-tranche Preference Shares a total of RMB1051700000 in full to redeem all the 10 million

second-tranche Preference Shares in issue of the Company and such Preference Shares were delisted from the Shenzhen Stock

Exchange on 19 August 2021.On 22 September 2021 the Company entrusted the Shenzhen Branch of China Securities Depository and Clearing Corporation

Limited to pay shareholders of the third-tranche Preference Shares a total of RMB1314625000 in full to redeem all the 12.50

million third-tranche Preference Shares in issue of the Company and such Preference Shares were delisted from the Shenzhen Stock

Exchange on 24 September 2021.For further details please refer to the relevant announcements (announcement No.: 2021-013 2021-014 2021-023 2021-060

2021-061 2021-073 and 2021-081) disclosed by the Company on CNINFO on 19 February 19 March 16 July 19 August and 24

September in 2021.

3. Completion of resale and delisting for “17 Chenming Bond 01”

The Company implemented the resale of the corporate bonds “17 Chenming Bond 01” as agreed in the Prospectus on the Public

Issuance of the Corporate Bonds of Shandong Chenming Paper Holdings Limited to Qualified Investors in 2017 (phase I) at the

resale price of RMB107.28 per bond (including accrued interest of RMB7.28 per bond for the current period and the accrued interest

including tax). During the resale declaration period (from 12 July 2021 to 16 July 2021) 900000 bonds were registered for resale.After the resale the number of outstanding bonds to be resold was 0. On 23 August 2021 the Company entrusted the Shenzhen

Branch of China Securities Depository and Clearing Corporation Limited with the completion of the payment of principle and

interest of the partial resale of “17 Chenming Bond 01” and such bonds were delisted from the Shenzhen Stock Exchange on the

same date.For further details please refer to the relevant announcements No. 2021-075 and No.2021- 076 disclosed by the Company on

CNINFO on 19 August 2021.

4. Information disclosure index for 2021

Announce Publication website and

Subject matter Date of publication

ment no. index

82021 Annual Report Summary of Shandong Chenming Paper Holdings Limited

Announcement on the Release of Pledge of Shares held by

2021-001 5 January 2021 http://www.cninfo.com.cn

Shareholders

Announcement on the Release of Pledge and Continued

2021-002 19 January 2021 http://www.cninfo.com.cn

Pledge of Shares held by Shareholders

Announcement on Resolutions of the Seventeenth

2021-003 30 January 2021 http://www.cninfo.com.cn

Extraordinary Meeting of the Ninth Session of the Board

Notice of the 2021 First Extraordinary General Meeting

the 2021 First Class Meeting for Holders of

2021-004 30 January 2021 http://www.cninfo.com.cn

Domestic-listed Shares and the 2021 First Class Meeting

for Holders of Overseas-listed Shares

Announcement on the Solicitation of Voting Rights by the

2021-005 30 January 2021 http://www.cninfo.com.cn

Independent Director

Announcement on Receipt of Government Subsidies by

2021-006 30 January 2021 http://www.cninfo.com.cn

Wholly-owned Subsidiaries

Supplemental Notice on Convening the 2021 First

Extraordinary General Meeting the 2021 First Class

2021-007 Meeting for Holders of Domestic Listed Shares and the 3 February 202 http://www.cninfo.com.cn

2021 First Class Meeting for Holders of Overseas-listed

2021-008 Announcement on Unusual Movement in Share Trading 4 February 202 http://www.cninfo.com.cn

Announcement in respect of Provision of Guarantee in

2021-009 10 February 202 http://www.cninfo.com.cn

Favour of a Subsidiary for Financing

Announcement on Receipt of High and New Technology

2021-010 10 February 202 http://www.cninfo.com.cn

Enterprise Certificate by a Subsidiary

Amendment Announcement on The Proposal on the

Domestic Listed Foreign Shares of the Company Changing

2021-011 Listing Venue to be Listed and Traded on the Main Board 18 February 202 http://www.cninfo.com.cn

of The Stock Exchange of Hong Kong Limited by way of

Conversion

2021-012 Announcement on Unusual Movement in Share Trading 18 February 202 http://www.cninfo.com.cn

Announcement in respect of Resolutions of the Eighteenth

2021-013 Extraordinary Meeting of the Ninth Session of the Board of 19 February 2021 http://www.cninfo.com.cn

Directors

The First Indicative Announcement on the Redemption of

2021-014 19 February 2021 http://www.cninfo.com.cn

the First-tranche Preference Shares

2021-015 Announcement on Unusual Movement in Share Trading 19 February 2021 http://www.cninfo.com.cn

The Second Indicative Announcement on the Redemption

2021-016 26 February 2021 http://www.cninfo.com.cn

of the First-tranche Preference Shares

The Third Indicative Announcement on the Redemption of

2021-017 5 March 2021 http://www.cninfo.com.cn

the First-tranche Preference Shares

Announcement on Resolution of the 2021 First

Extraordinary General Meeting the 2021 First Class

2021-018 Meeting for Holders of Domestic-listed Shares and the 10 March 2021 http://www.cninfo.com.cn

2021 First Class Meeting for Holders of Overseas-listed

Announcement on the Full Redemption and Delisting of the

2021-019 12 March 2021 http://www.cninfo.com.cn

First-tranche Preference Shares

The First Indicative Announcement on the Delisting of the

2021-020 12 March 2021 http://www.cninfo.com.cn

First-tranche Preference Shares

Supplemental Announcement on the Poll Results of 2021

2021-021 13 March 2021 http://www.cninfo.com.cn

First Class Meeting for Holders of Overseas-listed Shares

Announcement on the Delisting of the First-tranche

2021-022 16 March 2021 http://www.cninfo.com.cn

Preference Shares

Announcement on the Redemption Result of the

2021-023 19 March 2021 http://www.cninfo.com.cn

First-tranche Preference Shares

Announcement in respect of Resolutions of the Eighth

2021-024 26 March 2021 http://www.cninfo.com.cn

Meeting of the Ninth Session of the Board of Directors

Announcement on Resolutions of the Eighth Extraordinary

2021-025 Meeting of the Ninth Session of the Supervisory 26 March 2021 http://www.cninfo.com.cn

Committee

2021-026 Notice of 2020 Annual General Meeting 26 March 2021 http://www.cninfo.com.cn

2021-027 Announcement on Appointment of Auditor for 2021 26 March 2021 http://www.cninfo.com.cn

Announcement on the Adjustment to the Guarantee

2021-028 26 March 2021 http://www.cninfo.com.cn

Amount for Certain Subsidiaries

Announcement on Carrying out Factoring Business of

2021-029 26 March 2021 http://www.cninfo.com.cn

Accounts Receivable

Announcement on the Receipt of Financial Assistance and

2021-030 26 March 2021 http://www.cninfo.com.cn

Related Party Transaction

92021 Annual Report Summary of Shandong Chenming Paper Holdings Limited

Announcement on the Resignation of Senior Management

2021-031 26 March 2021 http://www.cninfo.com.cn

of the Company

2021-032 2020 Annual Report Summary 26 March 2021 http://www.cninfo.com.cn

Announcement on the 2020 Annual Online Performance

2021-033 26 March 2021 http://www.cninfo.com.cn

Briefing

Announcement on the Signing of the Convertible Bond

2021-034 26 March 2021 http://www.cninfo.com.cn

Strategic Cooperation Framework Agreement

Supplemental Announcement in respect of Resolutions of

2021-035 the Eighth Meeting of the Ninth Session of the Board of 27 March 2021 http://www.cninfo.com.cn

Directors

Shandong Chenming Paper Holdings Limited

Announcement on Payment of 2021 Interest with Respect

2021-036 31 March 2021 http://www.cninfo.com.cn

to the First Tranche of Corporate Bonds Publicly Issued to

Qualified Investors in 2018

Announcement on the Release of Pledge of Shares held by

2021-037 2 April 2021 http://www.cninfo.com.cn

Shareholders

2021-038 2021 First Quarterly Results Forecast 7 April 2021 http://www.cninfo.com.cn

2021-039 2021 First Quarterly Report 20 April 2021 http://www.cninfo.com.cn

Announcement on the Resignation of Employee

2021-040 Representative Supervisors and the By-election of 20 April 2021 http://www.cninfo.com.cn

Supervisors

2021-041 Announcement on Pledge of Shareholders’ Shares 22 April 2021 http://www.cninfo.com.cn

Announcement on the Development of Financing Business

2021-042 30 April 2021 http://www.cninfo.com.cn

and the Provision of Guarantees

Announcement on Receipt of Government Subsidies by

2021-043 15 June 2021 http://www.cninfo.com.cn

Subsidiaries

Announcement on Resolutions of 2020 Annual General

2021-044 19 June 2021 http://www.cninfo.com.cn

Meeting

Announcement in respect of Provision of Guarantee in

2021-045 23 June 2021 http://www.cninfo.com.cn

Favour of a Subsidiary

Announcement on Resolutions of the Nineteenth

2021-046 Extraordinary Meeting of the Ninth Session of the Board of 26 June 2021 http://www.cninfo.com.cn

Directors

Announcement on Capital Increase and Introduction of

2021-047 26 June 2021 http://www.cninfo.com.cn

Strategic Investors of a Majority-owned Subsidiary

Announcement on the Development of Equipment

2021-048 26 June 2021 http://www.cninfo.com.cn

Financing Business

2021-049 Announcement on External Investment 26 June 2021 http://www.cninfo.com.cn

Announcement in respect of Provision of Guarantee in

2021-050 26 June 2021 http://www.cninfo.com.cn

Favour of Subsidiaries by a Wholly-owned Subsidiary

Announcement on Receipt of Government Subsidies by the

2021-051 26 June 2021 http://www.cninfo.com.cn

Subsidiary Zhanjiang Chenming

2021-052 Announcement on Pledge of Shareholders’ Shares 29 June 2021 http://www.cninfo.com.cn

Announcement on Progress of Change of Listing Venue of

the Domestic Listed Foreign Shares and their Listing and

2021-053 1 July 2021 http://www.cninfo.com.cn

Trading on the Main Board of the Stock Exchange of Hong

Kong Limited by Conversion

The First Indicative Announcement on Non-adjustment of

2021-054 Coupon Rate of “17 Chenming Bond 01” and 9 July 2021 http://www.cninfo.com.cn

Implementation Measures for Resale by Investors

Announcement on the Resignation of Senior Management

2021-055 10 July 2021 http://www.cninfo.com.cn

of the Company

2021-056 2021 Interim Results Forecast 10 July 2021 http://www.cninfo.com.cn

2021-057 Announcement on Pledge of Shareholders’ Shares 14 July 2021 http://www.cninfo.com.cn

The Second Indicative Announcement on Non-adjustment

2021-058 of Coupon Rate of “17 Chenming Bond 01” and 14 July 2021 http://www.cninfo.com.cn

Implementation Measures for Resale by Investors

The Third Indicative Announcement on Non-adjustment of

2021-059 Coupon Rate of “17 Chenming Bond 01” and 15 July 2021 http://www.cninfo.com.cn

Implementation Measures for Resale by Investors

Announcement on Resolutions of the Twentieth

2021-060 Extraordinary Meeting of the Ninth Session of the Board of 16 July 2021 http://www.cninfo.com.cn

Directors

The First Indicative Announcement on the Matters Relating

2021-061 to Redeeming the Second and Third Tranches of Preference 16 July 2021 http://www.cninfo.com.cn

2021-062 The Second Indicative Announcement on the Matters 23 July 2021 http://www.cninfo.com.cn

102021 Annual Report Summary of Shandong Chenming Paper Holdings Limited

Relating to Redeeming the Second and Third Tranches of

Preference Shares

Announcement on the Continued Pledge of Shares held by

2021-063 24 July 2021 http://www.cninfo.com.cn

Shareholders

The Third Indicative Announcement on the Matters

2021-064 Relating to Redeeming the Second and Third Tranches of 30 July 2021 http://www.cninfo.com.cn

Preference Shares

Announcement on the Implementation of the Participation

2021-065 of Preferred Shareholders in the Remaining Profit 6 August 2021 http://www.cninfo.com.cn

Distribution for 2020

Announcement on the Implementation of Dividend

2021-066 6 August 2021 http://www.cninfo.com.cn

Distribution to Holders of A Shares and B Shares for 2020

Announcement on Pledge of Shares and Partial Release of

2021-067 9 August 2021 http://www.cninfo.com.cn

Pledge of Shares by Shareholders

Announcement on Resolutions of the Twenty-first

2021-068 9 August 2021 http://www.cninfo.com.cn

Extraordinary Meeting of the Ninth Session of the Board

Announcement on the Change and Rotation of the General

2021-069 9 August 2021 http://www.cninfo.com.cn

Manager

Announcement on the Full Redemption of the

2021-070 11 August 2021 http://www.cninfo.com.cn

Second-tranche Preference Shares

Announcement in respect of Provision of Guarantee in

2021-071 12 August 2021 http://www.cninfo.com.cn

Favour of a Subsidiary for Financing

Announcement on Halt of Trading of the Second Tranche

2021-072 14 August 2021 http://www.cninfo.com.cn

of Preference Shares

Announcement on Redemption Result and Delisting of the

2021-073 19 August 2021 http://www.cninfo.com.cn

Second Tranche of Preference Shares

Announcement on Adjustment of Cash Option Cash

Consideration Regarding Change of Listing Venue of the

2021-074 Domestic Listed Foreign Shares and Their Listing and 19 August 2021 http://www.cninfo.com.cn

Trading on the Main Board of the Stock Exchange of Hong

Kong Limited by Conversion

Announcement on Payment of 2021 Interest with respect to

2021-075 the First Tranche of Corporate Bonds Publicly Issued to 19 August 2021 http://www.cninfo.com.cn

Qualified Investors in 2017

Announcement on “17 Chenming Bond 01” Resale Result

2021-076 19 August 2021 http://www.cninfo.com.cn

and Delisting

2021-077 2021 Interim Report Summary 27 August 2021 http://www.cninfo.com.cn

Announcement in respect of Provision of Guarantee in

2021-078 9 September 2021 http://www.cninfo.com.cn

Favour of a Subsidiary for Financing

Announcement on Full Redemption of the Third Tranche of

2021-079 10 September 2021 http://www.cninfo.com.cn

Preference Shares

Announcement on Trading Halt of the Third Tranche of

2021-080 18 September 2021 http://www.cninfo.com.cn

Preference Shares

Announcement on the Third Tranche of Preference Shares

2021-081 24 September 2021 http://www.cninfo.com.cn

Redemption Result and Delisting

Announcement on Resolutions of the Twenty-second

2021-082 24 September 2021 http://www.cninfo.com.cn

Extraordinary Meeting of the Ninth Session of the Board

Announcement on Capital Increase and Introduction of

2021-083 24 September 2021 http://www.cninfo.com.cn

Strategic Investors of a Majority-owned Subsidiary

Announcement in respect of Provision of Guarantee in

2021-084 24 September 2021 http://www.cninfo.com.cn

Favour of a Subsidiary for Financing

2021-085 Announcement on the Receipt of Government Grants 30 September 2021 http://www.cninfo.com.cn

Announcement on Estimated Results for the Nine Months

2021-086 15 October 2021 http://www.cninfo.com.cn

Ended 30 September 2021

2021-087 2021 Third Quarterly Report 30 October 2021 http://www.cninfo.com.cn

Announcement on Pledge of Shares and Partial Release of

2021-088 10 November 2021 http://www.cninfo.com.cn

Pledge of Shares by Shareholders

Announcement on Participation in the 2021 Annual Online

2021-089 Group Reception Day for Investors of Listed Companies in 13 November 2021 http://www.cninfo.com.cn

Shandong Jurisdiction

Announcement on Resolutions of the Twenty-third

2021-090 16 November 2021 http://www.cninfo.com.cn

Extraordinary Meeting of the Ninth Session of the Board

Announcement on the provision of financial support to a

2021-091 16 November 2021 http://www.cninfo.com.cn

shareholding company and connected transaction

Notice of the Second Extraordinary General Meeting of

2021-092 16 November 2021 http://www.cninfo.com.cn

2021

Announcement in respect of Provision of Guarantee in

2021-093 20 November 2021 http://www.cninfo.com.cn

Favour of a Subsidiary for Financing

112021 Annual Report Summary of Shandong Chenming Paper Holdings Limited

Announcement on Change of listing venue of the domestic

listed foreign shares and their listing and trading on the

2021-094 Main Board of the Stock Exchange of Hong Kong Limited 23 November 2021 http://www.cninfo.com.cn

by conversion approved by China Securities Regulatory

Commission

Supplemental Announcement in respect of Provision of

2021-095 27 November 2021 http://www.cninfo.com.cn

Guarantee in Favour of a Subsidiary for Financing

Announcement on Pledge of Shares and Partial Release of

2021-096 27 November 2021 http://www.cninfo.com.cn

Pledge of Shares by Shareholders

Announcement in respect of Provision of Guarantee in

2021-097 6 December 2021 http://www.cninfo.com.cn

Favour of a Subsidiary for Financing

Announcement in respect of Provision of Guarantee in

2021-098 11 December 2021 http://www.cninfo.com.cn

Favour of a Subsidiary for Financing

Announcement on Resolutions of the Second Extraordinary

2021-099 14 December 2021 http://www.cninfo.com.cn

General Meeting of 2021

Announcement on the Development of Equipment

2021-100 31 December 2021 http://www.cninfo.com.cn

Financing Business

The Board of Shandong Chenming Paper Holdings Limited

30 March 2022

行情