2022 Interim Report Summary of Shandong Chenming Paper Holdings Limited

Stock code: 000488 200488 Stock abbreviation: Chenming Paper Chenming B Announcement No.: 2022-072

2022 Interim Report Summary of

SHANDONG CHENMING PAPER HOLDINGS LIMITED

I. IMPORTANT NOTICE

This interim report summary is extracted from the text of the interim report. For the full understanding of the

operating results financial position and plan for future development of the Company investors should carefully

read the full version of the interim report published on the media designated by the CSRC.All directors have attended the board meeting to review this report.Notice of non-standard auditor’s opinion

□ Applicable □ Not applicable

A proposed profit distribution plan on ordinary shares or a proposed plan on conversion of capital reserves into

share capital for the reporting period was considered and passed by the Board

□ Applicable □ Not applicable

The Company plans not to distribute cash dividends or bonus shares or convert capital reserve into share capital.A proposed profit distribution plan on preference shares for the reporting period was considered and approved

by the Board

□ Applicable □ Not applicable

II. BASIC IMFORMATION ON THE COMPANY

1. Company profile

晨鸣纸业000488

Stock abbreviation Stock code

晨鸣 B 200488

Stock exchanges on which the shares are listed Shenzhen Stock Exchange

Stock abbreviation Chenming Paper Stock code 01812

Stock exchanges on which the shares are listed The Stock Exchange of Hong Kong Limited

Stock abbreviation before any changes (if any) None

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

Name Yuan Xikun Chu Hon Leung

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

Correspondence Address

Shouguang City Shandong Province Central Hong Kong

Telephone 0536-2158008 00852-21629600

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

2. Major accounting data and financial indicators

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

□ Yes □ No

The corresponding Increase/decrease for the reporting

The reporting

period of the prior period as compared to the

period

year corresponding period of the prior year

Revenue (RMB) 16676428365.83 17172816354.53 -2.89%

Net profit attributable to shareholders of

230141463.762021095417.54-88.61%

the Company (RMB)

12022 Interim Report Summary of Shandong Chenming Paper Holdings Limited

Net profit after extraordinary gains or

losses attributable to shareholders of the 173407927.13 1964718180.70 -91.17%

Company (RMB)

Net cash flows from operating activities

998264209.454747185521.94-78.97%

(RMB)

Basic earnings per share (RMB per share) 0.064 0.604 -89.40%

Diluted earnings per share (RMB per

0.0640.604-89.40%

share)

Rate of return on weighted average net

1.02% 8.94% Decrease by 7.92 percentage points

assets

Increase/decrease as at the end of the

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

reporting period as compared to the

reporting period prior year

end of the prior year

Total assets (RMB) 85186581045.24 82841454602.24 2.83%

Net assets attributable to shareholders of

19220377294.7419089778227.640.68%

the Company (RMB)

Data description of basic earnings per share diluted earnings per share and rate of return on weighted average net assets:

Net profit attributable to shareholders of the Company does not exclude the effect on interest of perpetual bonds during the

reporting period. When calculating earnings per share and the rate of return on weighted average net assets the interest on

perpetual bonds from 1 January 2022 to 30 June 2022 of RMB44481369.86 is deducted.

3. Total number of shareholders and shareholdings

Unit: share

170976 of which 148205 were holders Total number of holders of preference

Total number of ordinary shareholders as

of A shares 22437 were holders of B shares with restored voting right as at 0

at the end of the reporting period

shares and 334 were holders of H shares the end of the reporting period (if any)

Shareholdings of top 10 shareholders

Share pledged marked or

Number of

Percentage of Number of locked-up

Name of shareholder Nature of shareholder restricted

shareholding shares held Status of

shares held Number

shares

CHENMING HOLDINGS State-owned legal

15.32% 457322919 0 Pledged 274220000

COMPANY LIMITED person

HKSCC NOMINEES LIMITED Overseas legal person 12.51% 373381375 0

CHENMING HOLDINGS

Overseas legal person 12.20% 364131563 0

(HONG KONG) LIMITED

NINGBO ASIA PAPER TUBE Domestic non-state-

1.08%321200000

& CARTON CO. LTD. owned legal person

Domestic natural

Chen Hongguo 1.04% 31080044 23310033

person

SHANDONG SUN HOLDINGS Domestic non-state-

0.82%245071170

GROUP CO. LTD. owned legal person

HONG KONG SECURITIES

CLEARING COMPANY Overseas legal person 0.54% 16218780 0

LIMITED

VANGUARD EMERGING

MARKETS STOCK INDEX Overseas legal person 0.50% 14819546 0

FUND

VANGUARD TOTAL

INTERNATIONAL STOCK Overseas legal person 0.50% 14771945 0

INDEX FUND

GUOTAI JUNAN SECURITIES

Overseas legal person 0.40% 11857746 0

(HONG KONG) LIMITED

A shareholder Chenming Holdings (Hong Kong) Limited which is an overseas legal person is a wholly-owned

subsidiary of a shareholder Shouguang Chenming Holdings Company Limited which is a state-owned legal

Related party relationship or

person. A shareholder Chen Hongguo is the legal representative chairman and general manager of Chenming

acting in concert among the

Holdings Company Limited. Save for the above it is not aware that any other shareholders mentioned above are

above shareholders

persons acting in concert. It is also not aware that any other shareholders mentioned above are related to each

other.Chenming Holdings Company Limited held 457322919 RMB ordinary shares of which 352322919 shares

were held through ordinary account and 105000000 shares were held through credit guarantee security account.Securities margin trading of Ningbo Asia Paper Tube & Carton Co. Ltd. held 32120000 RMB ordinary shares of which no share was held

shareholders if any through ordinary account and 32120000 shares were held through credit guarantee security account. Shandong

Sun Holdings Group Co. Ltd. held 24507117 RMB ordinary shares of which no share was held through

ordinary account and 24507117 shares were held through credit guarantee security account.

22022 Interim Report Summary of Shandong Chenming Paper Holdings Limited

4. Change of controlling shareholders or beneficial controllers

Change of controlling shareholders during the reporting period

□ Applicable □ Not applicable

There was no change of controlling shareholders of the Company during the reporting period.Change of beneficial controllers during the reporting period

□ Applicable □ Not applicable

There was no change of beneficial controllers of the Company during the reporting period.

5. Total number of holders of preference shares and the shareholdings of top ten holders of preference

shares

There was no shareholding by holders of preference shares of the Company during the reporting period.

6. Bonds subsisting as at the date of approval of the interim report

□ Applicable □ Not applicable

(1) Basic information on bonds

Outstanding

Bond Bond amount of Interest

Name of bond Issue date Maturity date

abbreviation code the bonds rate

(RMB’0000)

The public issuance of the corporate bonds of

18 Chenming 29 March

Shandong Chenming Paper Holdings Limited 112641 2 April 2023 35000 6.50%

Bond 01 2018

to qualified investors in 2018 (phase I)

(2) Financial indicators as at the end of the reporting period

Unit: RMB’0000

Item As at the end of the reporting period As at the end of the prior year

Gearing ratio 72.89% 72.78%

Current ratio 65.50% 65.05%

Quick ratio 58.10% 54.59%

Item The reporting period The corresponding period of the prior year

EBITDA interest coverage ratio 2.72 4.00

Net profit after extraordinary gains or

17340.79196471.82

losses

Proportion of EBITDA to total debts 4.25% 8.97%

Interest coverage ratio 1.33 2.99

Cash interest coverage ratio 2.11 4.70

Loans payment ratio 100% 100%

Interest payment ratio 100% 100%

III. Matters of significance

1. Recognition of the Company and its subsidiaries as high and new technology enterprises

The Company and its subsidiaries Shouguang Meilun and Zhanjiang Chenming have been recognised again as high and new

technology enterprises upon expiry of their original high and new technology enterprise certificates. The certificate numbers are

GR202137005666 GR202137005468 and GR202144001212 respectively each with a valid term of three years. According to the

Law of the People’s Republic of China on Enterprise Income Tax and the relevant tax policies of the PRC for high and new

technology enterprises the Company Shouguang Meilun and Zhanjiang Chenming are subject to an enterprise income tax rate of

32022 Interim Report Summary of Shandong Chenming Paper Holdings Limited

15% under the preferential income tax policy for high and new technology enterprises for three years (i.e. 2021 to 2023) from the

year in which they are recognised as high and new technology enterprises.For details please refer to the relevant announcement (announcement no.: 2022-002) of the Company published on CNINFO

on 11 February 2022.

2. Election of new session of the Board and the Supervisory Committee

At the 2022 first extraordinary general meeting of the Company held on 15 June 2022 the Resolution in Relation to the

Election of Candidates for Non-independent Directors of the Tenth Session of the Board the Resolution in Relation to the Election

of Candidates for Independent Non-executive Directors of the Tenth session of the Board and the Resolution in Relation to the

Election of Candidates for Shareholder Representative Supervisors of the Tenth Session of the Supervisory Committee were

considered and approved. Mr. Chen Hongguo Mr. Hu Changqing Mr. Li Xingchun Mr. Li Feng and Mr. Li Weixian were

elected as the executive Directors of the tenth session of the Board of the Company; Mr. Han Tingde and Mr. Li Chuanxuan were

elected as the non-executive Directors of the tenth session of the Board of the Company; Mr. Li Zhihui Mr. Sun Jianfei Mr. Yang

Biao and Ms. Yin Meiqun were elected as the independent non-executive Directors of the tenth session of the Board of the

Company; and Ms. Li Kang Ms. Pan Ailing and Ms. Zhang Hong were elected as the shareholder representative Supervisors of

the tenth session of the Supervisory Committee of the Company. On the same date the Company held the fourth meeting of the

tenth session of the staff representative meeting at which Ms. Qiu Lanju and Ms. Sang Ailing were elected as the staff

representative Supervisors of the tenth session of the Supervisory Committee of the Company; the Company held the first meeting

of the tenth session of the Board and the first meeting of the tenth session of the Supervisory Committee at which Mr. Chen

Hongguo was elected as chairman of the Board Mr. Hu Changqing and Mr. Li Xingchun were elected as vice chairmen of the

Board and Ms. Li Kang was elected as chairman of the Supervisory Committee. The election of the new session of the Board and

the Supervisory Committee of the Company was completed.For details please refer to the relevant announcements (announcement no.: 2022-049 2022-050 2022-051 and 2022- 052) of

the Company published on CNINFO on 16 June 2022.

3. Disclosure index for 2022 interim report

Announcement

Subject matter Date of publication Publication website and index

No.Announcement on the Continued Pledge of Shares held by

2022-001 15 January 2022 http://www.cninfo.com.cn

Shareholders

Announcement on the Recognition of the Company and its

2022-002 11 February 2022 http://www.cninfo.com.cn

Subsidiaries as High and New Technology Enterprises

Announcement on the Development of Equipment Financing

2022-003 24 February 2022 http://www.cninfo.com.cn

Business by a Subsidiary

The First Indicative Announcement on Adjustment of Coupon Rate

2022-004 of “18 Chenming Bond 01” and Implementation Measures for Resale 25 February 2022 http://www.cninfo.com.cn

by Investors

The Second Indicative Announcement on Adjustment of Coupon

2022-005 Rate of “18 Chenming Bond 01” and Implementation Measures for 1 March 2022 http://www.cninfo.com.cn

Resale by Investors

The Third Indicative Announcement on Adjustment of Coupon Rate

2022-006 of “18 Chenming Bond 01” and Implementation Measures for Resale 3 March 2022 http://www.cninfo.com.cn

by Investors

Announcement on Pledge of Shares and Partial Release of Pledge of

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

Shares by Shareholders

Announcement on the Development of Equipment Financing

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

Business by a Subsidiary

2022-009 Announcement on the 2021 Annual Online Performance Briefing 28 March 2022 http://www.cninfo.com.cn

Announcement on the Development of Equipment Financing

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

Business by a Subsidiary

Announcement on Resolutions of the Twelfth Meeting of the Ninth

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

Session of the Board of Directors

Announcement on Resolutions of the Twelfth Meeting of the Ninth

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

Session of the Supervisory Committee

2022-013 Notice of 2021 Annual General Meeting 31 March 2022 http://www.cninfo.com.cn

2022-014 2021 Annual Report Summary 31 March 2022 http://www.cninfo.com.cn

2022-015 Special Statement on Securities Investment in 2021 31 March 2022 http://www.cninfo.com.cn

2022-016 Announcement on Appointment of Auditor for 2022 31 March 2022 http://www.cninfo.com.cn

Announcement on the Expected Continuing Related Party

2022-017 31 March 2022 http://www.cninfo.com.cn

Transaction in 2022

Announcement on the Development of Equipment Financing

2022-018 31 March 2022 http://www.cninfo.com.cn

Business

Announcement on Carrying out Factoring Business of Accounts

2022-019 31 March 2022 http://www.cninfo.com.cn

Receivable

Announcement on Expected Provision of Guarantees to Subsidiaries

2022-020 31 March 2022 http://www.cninfo.com.cn

for 2022

Special Statement on the Proposed Non- Distribution of Profit for

2022-021 31 March 2022 http://www.cninfo.com.cn

2021

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

42022 Interim Report Summary of Shandong Chenming Paper Holdings Limited

Systems

2022-023 Announcement on the Provision of External Guarantees 31 March 2022 http://www.cninfo.com.cn

2022-024 Announcement on Loan Transfer and Related Party Transaction 31 March 2022 http://www.cninfo.com.cnAnnouncement on Results of Resale by Bondholders of “18

2022-025 31 March 2022 http://www.cninfo.com.cnChenming Bond 01”

Shandong Chenming Paper Holdings Limited Announcement on

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

Corporate Bonds Publicly Issued to Qualified Investors in 2018

2022-027 Announcement on Receipt of Government Subsidies by Subsidiaries 1 April 2022 http://www.cninfo.com.cn

Announcement on the Proposed Resale of “18 Chenming Bond 01”

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

Sale-back Bonds

Announcement on Pledge of Shares and Partial Release of Pledge of

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

Shares by Shareholders

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

Announcement on the Results of Resale of “18 Chenming Bond 01”

2022-031 10 May 2022 http://www.cninfo.com.cn

Bonds

2022-032 Announcement on Resolutions of 2021 Annual General Meeting 12 May 2022 http://www.cninfo.com.cn

Announcement on Resolutions of the Twenty-fourth Extraordinary

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

Meeting of the Ninth Session of the Board of Directors

Announcement on Resolutions of the Seventh Extraordinary Meeting

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

of the Ninth Session of the Supervisory Committee

2022-035 Declaration by Nominator of Independent Director (Li Zhihui) 24 May 2022 http://www.cninfo.com.cn

2022-036 Declaration by Nominator of Independent Director (Sun Jianfei) 24 May 2022 http://www.cninfo.com.cn

2022-037 Declaration by Nominator of Independent Director (Yang Biao) 24 May 2022 http://www.cninfo.com.cn

2022-038 Declaration by Nominator of Independent Director (Yin Meiqun) 24 May 2022 http://www.cninfo.com.cn

2022-039 Declaration by Candidate for Independent Director (Li Zhihui) 24 May 2022 http://www.cninfo.com.cn

2022-040 Declaration by Candidate for Independent Director (Sun Jianfei) 24 May 2022 http://www.cninfo.com.cn

2022-041 Declaration by Candidate for Independent Director (Yang Biao) 24 May 2022 http://www.cninfo.com.cn

2022-042 Declaration by Candidate for Independent Director (Yin Meiqun) 24 May 2022 http://www.cninfo.com.cn

Announcement on the Purchase of Liability Insurance for Directors

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

Supervisors and Senior Management

2022-044 Notice of the First Extraordinary General Meeting of 2022 24 May 2022 http://www.cninfo.com.cn

2022-045 Announcement on Credit Rating Adjustment 30 May 2022 http://www.cninfo.com.cn

Announcement on Resolutions of the Twenty-fifth Extraordinary

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

Meeting of the Ninth Session of the Board of Directors

Notice on Cancellation of Certain Resolutions of 2022 First

2022-047 Extraordinary General Meeting and Supplementary Notice of the 31 May 2022 http://www.cninfo.com.cn

General Meeting

2022-048 Announcement on Receipt of Government Subsidies by Subsidiaries 1 June 2022 http://www.cninfo.com.cn

Announcement on Resolutions of the First Extraordinary General

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

Meeting of 2022

Announcement on the Election of Employee Representative

2022-050 16 June 2022 http://www.cninfo.com.cn

Supervisors

Announcement on Resolutions of the First Meeting of the Tenth

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

Session of the Board of Directors

Announcement on Resolutions of the First Meeting of the Tenth

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

Session of the Supervisory Committee

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

Announcement on the Continued Pledge of Shares held by

2022-054 28 June 2022 http://www.cninfo.com.cn

Shareholders

Announcement on Resolutions of the First Extraordinary Meeting of

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

the Tenth Session of the Board

Announcement on Capital Increase and Introduction of Strategic

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

Investors of a Majority-owned Subsidiary

4. Introduction of strategic investors by Zhanjiang Chenming

On 27 June 2022 the first extraordinary meeting of the tenth session of the Board of the Company considered and approved

the Proposal on Capital Contribution and Introduction of Strategic Investors of a Majority-owned Subsidiary. Given the

recognition of Zhanjiang Chenming for its bright development prospect Xiamen International Trade Industry Development Equity

Investment Fund Partnership (Limited Partnership) made capital contribution to Zhanjiang Chenming in the amount of RMB400

52022 Interim Report Summary of Shandong Chenming Paper Holdings Limited

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

capital reserve.For details please refer to the relevant announcements (announcement no.: 2022-055 and 2022-056) of the Company

published on CNINFO on 28 June 2022.The Board of Shandong Chenming Paper Holdings Limited

30 August 2022

6