2022 Annual Report Summary of Shandong Chenming Paper Holdings Limited

Stock code: 000488 200488 Stock abbreviation: Chenming Paper Chenming B Announcement No.:2023-018

2022 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 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 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 the shares are

Shenzhen Stock Exchange

listed

Stock abbreviation CHENMING PAPER Stock code 01812

Stock exchange on which the shares are

The Stock Exchange of Hong Kong Limited

listed

Contact persons and contact methods Secretary to the Board Hong Kong Company Secretary

Name Yuan Xikun Chu Hon Leung

Correspondence address No.2199East Nongsheng Road 22nd Floor World Wide House Central

Shouguang City Shandong Province Hong 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 and the machine-

made paper business is the major source of revenue and profit of the Company. At present the Company has production bases in

Shandong Guangdong Jiangxi HubeiJilin and other places with annual pulp and paper production capacity of more than 11

million tonnes. It is the first domestic paper making enterprise that achieves a balance between pulp production and paper making

capacity. During the reporting period continuously taking “revitalising the Chinese papermaking industry” as its mission the

Company had been committed itself to implementing a pulp and paper integration strategy. It deepened the development of pulp

production and papermaking its major operation and realised revenue of RMB32004 million and net profit of RMB317 million.There was no significant change in the principal activities of the Company.

1. Products

12022 Annual Report Summary of Shandong Chenming Paper Holdings Limited

The Company attaches great importance to technology research and development and brand benefits. Adopting the market-

oriented approach the Company adheres to technological innovation continuously improves the level of technological research

and development and product service quality develops green and low-carbon products with high technological content and high

added value and comprehensively enhances the core competitiveness of products. At present the Company has 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 culture paper coated paper white cardboard copy paper industrial paper special paper and

household paper. The Company owns “BIYUNTIAN” “GOLDEN MINGYANG” “CHENMING CLOUDY MIRROR”

“CHENMING CLOUDLY LION” “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.It is the enterprise with the largest variety of products and the most complete products in the domestic paper industry.During the reporting period the Company was shortlisted for the list of “Top 500 Most Valuable Brands in China in 2022”

and won the title of “2022 Shandong Province Science and Technology Leading Enterprise”. The main products of culture paper

coated paper and household paper were selected into the first batch of “Shandong’s Good Product” brand list and its poplar coated

white cardboard Xingzhilian tissue paper and Xingzhilian toilet paper had won the national “Green Design Products” award fully

demonstrating the Company's excellent achievement in brand building and strong brand value.Major production

Category Major brands and types Range of application

companies

1. “BIYUNTIAN” “CLOUDY MIRROR” “CLOUDYLEOPARD” and “YUNJIN” all-wood pulp offset paper and

electrostatic base paper

2. “CLOUDY LION” and “CLOUDY CRANE” original white Printing publications textbooks

Shouguang Headquarters

Culture paper offset paper magazines covers illustrations

Zhanjiang Chenming

series 3. “CLOUDY PINE” and “GREEN PINE” light weight paper notebooks test papers teaching

Jilin Chenming

4. Blueprint paper colour offset paper pure texture paper non- materials reference books etc.

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 wall calendars posters and

1. “SNOW SHARK” and “EAGLE” one-sided coated paper

so on and suitable for suitable for high-

Coated paper 2. “SNOW SHARK” “EAGLE” and “RABBIT” double-sided Shouguang Headquarters

speed sheet printing and high-speed

series coated paper Shouguang Meilun

rotary printing;

3. “EAGLE” and “RABBIT” matte coated paper

One-sided coated paper is suitable 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

High-end gift boxes cosmetics boxes

cardboard of “LIPIN” and “POPLAR” series high bulk cardboard

tags shopping bags publicity

and ivory cardboard of “LIZZY” and “BAIYU” series and super

White Shouguang Headquarters pamphlets high-end postcards; cigarette

high bulk cardboard of “LIYING” and “BAIYU” series

cardboard Jiangxi Chenming package printing of medium and high

2. Food package board of “LIYA” and “LIZZY” series

series Zhanjiang Chenming quality; milk package beverage

3. Coated cattle card and LIYA book card

package disposable paper cups milk

4. Playcard paper board

tea cups and noodle bowls.

5. Chenming cigarette cardboard

“GOLDEN MINGYANG” and “GOLDEN CHENMING” copy

Printing and copying business

Copy paper paper “BOYA” and “BIYUNTIAN” copy paper “MINGYANG” Shouguang Meilun

documents training materials and

series “LUCKY CLOUDS” “BOYANG” and “SHANYIN” copy paper Zhanjiang Chenming

writing.and “GONGHAO” and “TIANJIAN” copy paper

Anti-stick base paper is mainly used for

producing the paper base of stripping

Shouguang Headquarters

Industrial High-grade yellow anti-sticking base paper ordinary yellow/white paper or anti-sticking base paper;

Jiangxi Chenming

paper series anti-sticking base paper and PE paper Cast coated base paper is suitable for

Zhanjiang Chenming

producing adhesive paper or playcard

compound paper after coating.High-grade adhesive backing paper for

Special paper electronics medicine food washing

Thermal paper and glassine paper Shouguang Art Paper

series supplies supermarket labels double-

sided tapes etc.Daily toilet supplies; used in restaurants

and other catering industries and used

Household Toilet paper facial tissue pocket tissue napkin paper towels and

Shouguang Meilun in public toilets in hotels guesthouses

paper series “XINGZHILIAN”

and office buildings and also suitable

for home and other environment.

2. Operation model

During the reporting period the Company's business model did not underwent major changes.

(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

22022 Annual Report Summary of Shandong Chenming Paper Holdings Limited

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 model

The Company has committed itself to implementing a pulp and paper integration strategy. Adhering to the concept of

“placing green 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 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.

3. The position of the Company in the industry during the reporting period

The papermaking industry is a strategic and fundamental industry closely related to national economic and social

development. In 2022 the papermaking industry had a narrowing profit squeeze with declining prosperity due to a sharp rise in the

prices of raw materials power and logistics in the upstream market and the weak demand in the downstream market. According to

data of the Ministry of Industry and Information Technology total profit of papermaking and paper product enterprises above

designated size nationwide in 2022 was RMB62.11 billion down nearly 30% year on year. According to data of the National

Bureau of Statistics as of December 2022 the number of loss-making papermaking and paper product enterprises was 1799

representing a year-on-year increase of 40.9%. In this context the Company responded flexibly and stubbornly and continued to

make profit amid difficulties thereby showing its strong resilience.As a leading player in the paper making industry of China the Company has implemented the strategy of innovative

operation quickened its pace in growth driver replacement and led the way in full industry chain operation and has emerged as

the only paper making enterprise in China to achieve capacity balance between pulp production and paper making. Currently the

Company has the annual pulp and paper production capacity of over 11 million tonnes tops the industry in its paper product

variety and ranks among the best in China in terms of the market share of its major products. During the reporting period the

Company strove to implement its strategy of pulp and paper integration with a coordinated development pattern further formed

with Shouguang in the north Huanggang in the middle and Zhanjiang in the south. The Company seized opportunities in overseas

markets and improved its global sales network thus significantly growing sales to overseas markets. The Company strengthened

its management prevented and controlled risks and laid the foundation for its sustainable development. The Company optimised

the product structure improved service quality and strove to increase products’ added value which further consolidated its

leading position in the industry. The Company had won awards such as “Top 500 Chinese Enterprises” “Fortune China 500”

32022 Annual Report Summary of Shandong Chenming Paper Holdings Limited

and “Top 10 Enterprises in the PRC Light Industry – Paper Sector” which reflected the high recognition and full affirmation

of the Company from all walks of life.

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 at the end of the

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

year compared to

202220212020

the end of the prior

year

Total assets 84301017409.62 82869661681.08 1.73% 91575457828.62

Net assets attributable to shareholders of

19084565494.9219117985306.48-0.17%24276968789.00

the Company

Increase/decrease

for the year as

202220212020

compared to the

prior year

Revenue 32004367320.91 33019812294.14 -3.08% 30736517996.90

Net profit attributable to shareholders of

189290120.822065513108.71-90.84%1712029078.52

the Company

Net profit after extraordinary gains or

losses attributable to shareholders of the -361459377.16 1743876537.12 -120.73% 1119103808.75

Company

Net cash flows from operating activities 3449824242.37 8581888192.64 -59.80% 11259802676.28

Basic earnings per share (RMB per share) 0.03 0.56 -94.64% 0.36

Diluted earnings per share (RMB per

0.030.56-94.64%0.36

share)

Rate of return on weighted average net Decreased by9.01

0.55%9.56%5.84%

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. 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 during the reporting

period is deducted.

(2) Key Major Accounting Data by Quarter

Unit: RMB

Q1 Q2 Q3 Q4

Revenue 8514983059.74 8161445306.09 8679605529.93 6648333425.15

Net profit attributable to shareholders of the

113917827.90116223635.8610434396.87-51285739.81

Company

Net profit after extraordinary gains or losses

99637959.1273769968.01-18272552.33-516594751.96

attributable to shareholders of the Company

Net cash flows from operating activities 222704964.47 775559244.98 150935364.72 2300624668.20

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. Share capital and shareholders

(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

42022 Annual Report Summary of Shandong Chenming Paper Holdings Limited

Total number of Total number of holders

156799 of which 156371 of which Total number of

Total number of ordinary of Preference Shares

134311 were holders 133998 were holders holders of

ordinary shareholders as at with restored voting right

of A shares 22159 of A shares 22044 Preference Shares

shareholders as at the end of the 0 as at the end of the 0

were holders of B were holders of B with restored voting

the end of the month prior to the month prior to the

shares and 329 were shares and 329 were right as at the end of

reporting period publication date of disclosure date of the

holders of H shares holders of H shares the reporting period

this annual report annual report

Shareholdings of top 10 shareholders

Number of Shares pledged or locked-up

Nature of Percentage of Number of

Name of shareholders restricted Status of

shareholders shareholding shares held Number

shares held shares

CHENMING HOLDINGS COMPANY State-owned legal

15.35% 457322919 0 Pledged 251440000

LIMITED person

HKSCC Overseas legal

12.53%3733886250

NOMINEES LIMITED person

CHENMING HOLDINGS (HONG Overseas legal

12.22%3641315630

KONG) LIMITED person

Domestic natural

Hong Zejun 2.57% 76700000 0

person

Domestic natural

Chen Hongguo 1.04% 31080044 23310033

person

SHANDONG SUN HOLDINGS GROUP Domestic non-state-

0.84%249871170

CO. LTD. owned legal person

HONG KONG SECURITIES CLEARING Overseas legal

0.59%177120810

COMPANY LIMITED person

VANGUARD TOTAL INTERNATIONAL Overseas legal

0.50%147719450

STOCK INDEX FUND person

VANGUARD EMERGING MARKETS Overseas legal

0.49%146883460

STOCK INDEX FUND person

GUOTAI JUNAN SECURITIES (HONG Overseas legal

0.28%84343610

KONG) LIMITED 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-

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

concert among the above shareholders manager of 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 326322919

shares were held through ordinary account and 131000000 shares were held through credit guarantee

security account;

Hong Zejun held 76700000 RMB ordinary shares of which no share was held through ordinary

Securities margin trading of shareholders

account and 76700000 shares were held through credit guarantee security account;

Shandong Sun Holdings Group Co. Ltd. held 24987117 RMB ordinary shares of which no share was

held through ordinary account and 24987117 shares were held through credit guarantee security

account.

(2) Total number of holders of Preference Shares of the Company and the shareholdings of the top ten holders of

Preference Shares

□ Applicable □ Not applicable

During the reporting period there was no shareholding of holders of Preference Shares of the Company.

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

52022 Annual Report Summary of Shandong Chenming Paper Holdings Limited

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 of Interest

Name of bond Bond abbreviation Bond code Issue date Maturity date

the bonds (RMB’0000) rate

The public issuance of the

Corporate Bonds of Shandong

18 Chenming

Chenming Paper Holdings 112641 29 March 2018 2 April 2023 35000 6.50%

Bond 01

Limited to qualified investors

in 2018 (phase I)

During the reporting period the Company conducted the resale of “18 Chenming Bond 01” corporate bonds as

agreed in the Prospectus. Bondholders of “18 Chenming Bond 01” could declare resale in whole or in part for “18Chenming Bond 01” bonds they held on 28 February 1 March 2 March 3 March and 4 March 2022. According to

the data provided by the Shenzhen Branch of China Securities Depository and Clearing Corporation Limited the

amount of the “18 Chenming Bond 01” for this resale was 1955000.00 and the total amount of the resale was

Interest payment for the

RMB195500000.00 (interests exclusive) with a remaining custodial amount of 1545000.00. On 6 April 2022 the

corporate bonds during the

Company completed the principal and interest payment for the resale of bonds in part and the interest payment for

reporting period

the remaining bonds in custody.From 8 April 2022 to 30 April 2022 the Company handled the resale of bonds to be resold in accordance with

relevant regulations. The number of resale bonds completed was 1955000.00 at an average resale price of

RMB100 per bond. Upon the completion of the resale there were no bonds that had not been resold and the

remaining custodial amount of “18 Chenming Bond 01” was 3500000.00.

(2) Latest track rating of and rating movements of corporate bonds

On 26 May 2022 China Chengxin International Credit Rating Co. Ltd. (“China Chengxin International”) issued the Follow-

up Rating Report (2022) with Respect to the Public Issuance of the Corporate Bonds of Shandong Chenming Paper Holdings

Limited to Qualified Investors in 2018 (phase I) (Xin Ping Wei Han Zi [2022] Gen Zong No. 0343). China Chengxin International

adjusted the issuer credit rating of the Company at AA+ the credit rating of “18 Chenming Bond 01” at AA+ and the negative

rating outlook to: the issuer credit rating of the Company at AA+ and the credit rating of “18 Chenming Bond 01” at AA+

unchanged and the issuer and debt credit ratings included in the credit rating watch list.For further details please refer to the Follow-up Rating Report (2022) with Respect to the Public Issuance of the Corporate

Bonds of Shandong Chenming Paper Holdings Limited to Qualified Investors in 2018 (phase I) disclosed on CNINFO on 26 May

2022.

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

period

Unit: RMB’0000

Increase/decrease for the year as

Item 2022 2021

compared to the prior year

Gearing ratio 71.85% 72.76% -0.91%

62022 Annual Report Summary of Shandong Chenming Paper Holdings Limited

Net profit after extraordinary gains or losses -36145.94 174387.65 -120.73%

Proportion of EBITDA to total debts 8.61% 13.43% -4.82%

Interest coverage ratio 1.09 2.12 -48.58%

III. Matters of significance

1. Issuance of shares and asset purchase through cash payments

On 21 November 2022 the Company held the fourth extraordinary meeting of the tenth session of the Board and the second

extraordinary meeting of the tenth session of the Supervisory Committee and considered and approved relevant resolutions

including the Resolution on Asset Purchase through Issuance of Shares and Cash Payment. The Company intended to acquire 1.19%

equity interests in Shouguang Meilun (corresponding capital contribution of RMB57210526 to Shouguang Meilun) held by

Dongxing Investment and 44.44% limited partnership share in Chenrong Fund held by Chongqing Trust through issuance of

shares. Shandong Chenming Investment Co. Ltd. a wholly-owned subsidiary of the Company intended to acquire 0.22% general

partnership share in Chenrong held by Chenming (Qingdao) Asset Management Co. Ltd. (“Chenming Asset Management”)

through cash payment. The type of shares issued by the Company for asset purchase was domestic-listed RMB ordinary shares (A

shares) with issue price of RMB4.42 per share. As of the end of the reporting period the audit and evaluation on subject asset

under the transaction have not yet completed.For details please refer to the relevant announcements (announcement no.: 2022-084 and 2022-085) of the Company

published on CNINFO on 22 November 2022.

2. Information disclosure index for 2022

Announce Date of Publication website and

Subject matter

ment no. publication index

2022-001 Announcement on the Continued Pledge of Shares held by Shareholders 15 January 2022 http://www.cninfo.com.cn

Announcement on the Recognition of the Company and its Subsidiaries as High 11 February

2022-002 http://www.cninfo.com.cn

and New Technology Enterprises 2022

Announcement on the Development of Equipment Financing Business by a 24 February

2022-003 http://www.cninfo.com.cn

Subsidiary 2022The First Indicative Announcement on Adjustment of Coupon Rate of “18 25 February

2022-004 http://www.cninfo.com.cnChenming Bond 01” and Implementation Measures for Resale by Investors 2022The Second Indicative Announcement on Adjustment of Coupon Rate of “18

2022-005 1 March 2022 http://www.cninfo.com.cnChenming Bond 01” and Implementation Measures for Resale by InvestorsThe Third Indicative Announcement on Adjustment of Coupon Rate of “18

2022-006 3 March 2022 http://www.cninfo.com.cnChenming Bond 01” and Implementation Measures for Resale by Investors

Announcement on Pledge of Shares and Partial Release of Pledge of Shares by

2022-007 12 March 2022 http://www.cninfo.com.cn

Shareholders

Announcement on the Development of Equipment Financing Business by a

2022-008 14 March 2022 http://www.cninfo.com.cn

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 Business by a

2022-010 29 March 2022 http://www.cninfo.com.cn

Subsidiary

Announcement on Resolutions of the Twelfth Meeting of the Ninth Session of

2022-011 31 March 2022 http://www.cninfo.com.cn

the Board of Directors

Announcement on Resolutions of the Twelfth Meeting of the Ninth Session of

2022-012 31 March 2022 http://www.cninfo.com.cn

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

2022-017 Announcement on the Expected Continuing Related Party Transaction in 2022 31 March 2022 http://www.cninfo.com.cn

2022-018 Announcement on the Development of Equipment Financing Business 31 March 2022 http://www.cninfo.com.cn

2022-019 Announcement on Carrying out Factoring Business of Accounts Receivable 31 March 2022 http://www.cninfo.com.cn

2022-020 Announcement on Expected Provision of Guarantees to Subsidiaries for 2022 31 March 2022 http://www.cninfo.com.cn

2022-021 Special Statement on the Proposed Non-Distribution of Profit for 2021 31 March 2022 http://www.cninfo.com.cn

2022-022 Announcement on the Amendments to the Company’s Relevant Systems 31 March 2022 http://www.cninfo.com.cn

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.cnAnnouncement on Results of Resale by Bondholders of “18 Chenming Bond

2022-025 31 March 2022 http://www.cninfo.com.cn

01”

Shandong Chenming Paper Holdings Limited Announcement on Payment of

2022-026 2022 Interest with Respect to the First Tranche of Corporate Bonds Publicly 31 March 2022 http://www.cninfo.com.cn

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” Sale-back

2022-028 7 April 2022 http://www.cninfo.com.cn

Bonds

Announcement on Pledge of Shares and Partial Release of Pledge of Shares by

2022-029 21 April 2022 http://www.cninfo.com.cn

Shareholders

72022 Annual Report Summary of Shandong Chenming Paper Holdings Limited

2022-030 2022 First Quarterly Report 30 April 2022 http://www.cninfo.com.cn

2022-031 Announcement on the Results of Resale of “18 Chenming Bond 01” Bonds 10 May 2022 http://www.cninfo.com.cn

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 Meeting of

2022-033 24 May 2022 http://www.cninfo.com.cn

the Ninth Session of the Board of Directors

Announcement on Resolutions of the Seventh Extraordinary Meeting of the

2022-034 24 May 2022 http://www.cninfo.com.cn

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 Supervisors

2022-043 24 May 2022 http://www.cninfo.com.cn

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 Meeting of the

2022-046 31 May 2022 http://www.cninfo.com.cn

Ninth Session of the Board of Directors

Notice on Cancellation of Certain Resolutions of 2022 First Extraordinary

2022-047 31 May 2022 http://www.cninfo.com.cn

General Meeting and Supplementary Notice of the 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 Meeting of

2022-049 16 June 2022 http://www.cninfo.com.cn

2022

2022-050 Announcement on the Election of Employee Representative Supervisors 16 June 2022 http://www.cninfo.com.cn

Announcement on Resolutions of the First Meeting of the Tenth Session of the

2022-051 16 June 2022 http://www.cninfo.com.cn

Board of Directors

Announcement on Resolutions of the First Meeting of the Tenth Session of the

2022-052 16 June 2022 http://www.cninfo.com.cn

Supervisory Committee

2022-053 Announcement on the Progress of Litigation 21 June 2022 http://www.cninfo.com.cn

2022-054 Announcement on the Continued Pledge of Shares held by Shareholders 28 June 2022 http://www.cninfo.com.cn

Announcement on Resolutions of the First Extraordinary Meeting of the Tenth

2022-055 28 June 2022 http://www.cninfo.com.cn

Session of the Board

Announcement on Capital Increase and Introduction of Strategic Investors of a

2022-056 28 June 2022 http://www.cninfo.com.cn

Majority-owned Subsidiary

Announcement on Pledge of Shares and Partial Release of Pledge of Shares by

2022-057 13 July 2022 http://www.cninfo.com.cn

Shareholders

2022-058 2022 Interim Results Forecast 16 July 2022 http://www.cninfo.com.cn

Announcement on Resolutions of the Second Extraordinary Meeting of the

2022-059 19 July 2022 http://www.cninfo.com.cn

Tenth Session of the Board of Directors

Announcement on Resolutions of the First Extraordinary Meeting of the Tenth

2022-060 19 July 2022 http://www.cninfo.com.cn

Session of the Supervisory Committee

Review Opinions on Relevant Matters Proposed at the First Extraordinary

2022-061 19 July 2022 http://www.cninfo.com.cn

Meeting of the Tenth Session of the Supervisory Committee

Announcement on Fulfilment of the Unlocking Conditions for the First

2022-062 19 July 2022 http://www.cninfo.com.cn

Unlocking Period under the 2020 Restricted A Share Incentive Scheme

Announcement on Adjustment to the Repurchase Price of the 2020 Restricted A

2022-063 Share Incentive Scheme and Repurchase and Cancellation of Certain Restricted 19 July 2022 http://www.cninfo.com.cn

Shares

Announcement on Repurchase and Cancellation of Certain Restricted Shares

2022-064 19 July 2022 http://www.cninfo.com.cn

and Notice to Creditors

Indicative Announcement on Release of Restricted Shares for the First

2022-065 Unlocking Period under the 2020 Restricted A Share Incentive Scheme for 25 July 2022 http://www.cninfo.com.cn

Listing and Trading

Announcement on Continued Pledge of Shares held by Shareholders and Partial

2022-066 26 July 2022 http://www.cninfo.com.cn

Release of Pledge of Shares by Shareholders

Announcement on Resolution of the Third Extraordinary Meeting of the Tenth

2022-067 29 July 2022 http://www.cninfo.com.cn

Session of the Board of Directors

Announcement on Capital Increase and Introduction of Strategic Investors of a

2022-068 29 July 2022 http://www.cninfo.com.cn

Majority-owned Subsidiary

2022-069 Announcement on Pledge of Shareholders’ Shares 29 July 2022 http://www.cninfo.com.cn

2022-070 Announcement on Continued Pledge of Shares held by Shareholders 6 August 2022 http://www.cninfo.com.cn

Announcement on the Preliminary Disclosure of Disposal of Shares by Certain

2022-071 13 August 2022 http://www.cninfo.com.cn

Directors and Senior Management of the Company

2022-072 2022 Interim Report Summary 31 August 2022 http://www.cninfo.com.cn

Announcement in respect of Provision of Guarantee in Favour of 13 October

2022-073 http://www.cninfo.com.cn

a Subsidiary for Technological Transformation Project 2022

Announcement on Completion of Repurchase and Cancellation of Certain 21 October

2022-074 http://www.cninfo.com.cn

Restricted Shares 2022

82022 Annual Report Summary of Shandong Chenming Paper Holdings Limited

27 October

2022-075 Announcement on the Release of Pledge of Shares held by Shareholders http://www.cninfo.com.cn

2022

Announcement on Resolutions of the Third Meeting of the Tenth Session of the 31 October

2022-076 http://www.cninfo.com.cn

Board of Directors 2022

Announcement on Resolutions of the Third Meeting of the Tenth Session of the 31 October

2022-077 http://www.cninfo.com.cn

Supervisory Committee 2022

31 October

2022-078 2022 Third Quarterly Report http://www.cninfo.com.cn

2022

Announcement on Investment in Coniferous Wood Bleached Chemical Pulp 31 October

2022-079 http://www.cninfo.com.cn

Project with Annual Production Capacity of 300000 Tonnes 2022

Announcement on Investment in Construction of Special Paper Project with 31 October

2022-080 http://www.cninfo.com.cn

Annual Production Capacity of 180000 Tonnes by Zhanjiang Chenming 2022

5 November

2022-081 Announcement on Continued Pledge of Shares held by Shareholders http://www.cninfo.com.cn

2022

Announcement on Expiry of Approval Regarding Change of Listing Venue of

12 November

2022-082 the Domestic Listed Foreign Shares and Their Listing and Trading on the Main http://www.cninfo.com.cn

2022

Board of the Stock Exchange of Hong Kong Limited by Conversion

Announcement on Participation in the 2022 Annual Online Group Reception 12 November

2022-083 http://www.cninfo.com.cn

Day for Investors of Listed Companies in Shandong Jurisdiction 2022

Announcement on Resolutions of the Fourth Extraordinary Meeting of the 22 November

2022-084 http://www.cninfo.com.cn

Tenth Session of the Board of Directors 2022

Announcement on Resolutions of the Second Extraordinary Meeting of the 22 November

2022-085 http://www.cninfo.com.cn

Tenth Session of the Supervisory Committee 2022

Indicative Announcement on General Risks Regarding Asset Purchase Through 22 November

2022-086 http://www.cninfo.com.cn

Issuance of Shares and Cash Payments 2022

Announcement on Not Convening General Meeting for Consideration of

22 November

2022-087 Matters Regarding Asset Purchase Through Issuance of Shares and Cash http://www.cninfo.com.cn

2022

Payments at the Moment

Opinions of Supervisory Committee on Asset Purchase Through Issuance of 22 November

2022-088 http://www.cninfo.com.cn

Shares and Cash Payments 2022

Announcement on Involvement in the Establishment of Limited Partnership 22 November

2022-089 http://www.cninfo.com.cn

Company by a Subsidiary 2022

Announcement on Pledge of Shares and Continued Pledge of Shares held by 25 November

2022-090 http://www.cninfo.com.cn

Shareholders 2022

Announcement on the Implementation Progress of the Share Disposal Plan by 7 December

2022-091 http://www.cninfo.com.cn

Certain Directors and Senior Management of the Company 2022

Announcement on Resolutions of the Fifth Extraordinary Meeting of the Tenth 8 December

2022-092 http://www.cninfo.com.cn

Session of the Board of Directors 2022

Announcement of Repayment of Debts by Pledge of Equity and Provision of 8 December

2022-093 http://www.cninfo.com.cn

External Guarantees 2022

8 December

2022-094 Announcement on Provision of External Guarantees http://www.cninfo.com.cn

2022

8 December

2022-095 Notice of 2022 Second Extraordinary General Meeting http://www.cninfo.com.cn

2022

24 December

2022-096 Poll Results of the 2022 Second Extraordinary General Meeting http://www.cninfo.com.cn

2022

3. 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

million of which RMB266351374 was included in the registered capital and the remaining RMB133648626 was included in the

capital reserve.On 28 July 2022 the third extraordinary meeting of the tenth session of the Board of the Company considered and approved

the Proposal on the Capital Contribution for Share Increase and Introduction of Strategic Investors for a Controlling Subsidiary.BOCOM Financial Assets Investment Co. Ltd. (“BOCOM Investment”) and Jiaohui Chenming Zhuli (Suzhou) Emerging

Industry Development Fund Partnership (Limited Partnership) (“Jiaohui Chenming Fund”) contributed capital to Zhanjiang

Chenming with a total capital contribution of RMB1000 million. BOCOM Investment and Jiaohui Chenming Fund contributed

RMB500 million and RMB500 million respectively.For details please refer to the relevant announcements (announcement no.: 2022-055 2022-056 and 2022-068) of the

Company published on CNINFO on 28 June and 29 July 2022.

4. Business status of Chenming Leasing

At present the Company focuses on the development of its principal activities i.e. pulp production and paper making and

continues to reduce the size of the financial leasing business. As at the end of the reporting period the balance of financial leases

of Chenming Leasing decreased to RMB5.79 billion. Some financial lease receivables of Chenming Leasing were overdue due to

factors such as the weak domestic economic environment with the overdue principals amounting to RMB1791 million for which

provisions of RMB663 million were made and a provision coverage rate of 37.02%. Certain assets have been seized through

litigation. The Company has resorted to among other things control of the underlying assets litigation for seizure recovery for

guarantors and debt reconstruction with the overall risks under control.

5. Construction and put into production of Shouguang Meilun household paper project

In order to optimise resources allocation accelerate growth driver replacement and facilitate industry upgrade and

transformation the Company relocated the household paper production line of Wuhan Chenming to Shouguang Meilun. In

92022 Annual Report Summary of Shandong Chenming Paper Holdings Limited

September 2022 the household paper relocation project of Shouguang Meilun commenced trial operation. In December 2022 the

project was officially put into production. Total investment of the project amounted to RMB460 million. The full set of equipment

and control system of production was sourced from Valmet in Finland. The whole product line adopted most advanced equipment

and system in the world including double headbox sharper shoe press Yankee dryer high-temperature air cover as well as the

complete set of automatic DCS system QCS system electric transmission system and MES system thus realising full automatic

control. The width of paper-making machine is 5600mm with operation speed up to 2000m/min. The project uses 100% virgin

wood pulp as raw material. Products will undergo 450℃ high-temperature sterilisation and can be used for the production for

different types of high-end paper products such as toilet paper roll pocket tissue facial tissue napkin and paper towels with

annual production capacity up to 49000 tonnes.The Board of Shandong Chenming Paper Holdings Limited

30 March 2023

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