Financial Performance - The company reported its annual performance for the year ending December 31, 2023, in accordance with the relevant financial reporting standards[1]. - The company's operating revenue for 2023 was ¥26,608,570,228.20, a decrease of 16.86% compared to ¥32,004,367,320.91 in 2022[16]. - The net profit attributable to shareholders for 2023 was -¥1,942,120,184.70, representing a decline of 437.30% from -¥361,459,377.16 in 2022[16]. - The total assets at the end of 2023 were ¥79,487,052,953.58, down 5.71% from ¥84,301,017,409.62 at the end of 2022[16]. - The net assets attributable to shareholders decreased by 12.54% to ¥16,692,175,196.53 at the end of 2023, compared to ¥19,084,565,494.92 at the end of 2022[16]. - The basic earnings per share for 2023 was -¥0.45, a significant drop from ¥0.03 in 2022, reflecting a decrease of 1,600.00%[16]. - The weighted average return on net assets for 2023 was -7.65%, a decrease of 8.2 percentage points from 0.55% in 2022[16]. - The company's quarterly operating revenue for Q4 2023 was ¥6,886,713,996.15, with a net profit attributable to shareholders of -¥512,996,226.30[20]. - The total revenue after deductions for 2023 was ¥25,622,353,262.24, compared to ¥30,973,596,860.65 in 2022[18]. - The company reported a significant uncertainty regarding its ability to continue as a going concern, as indicated by the negative net profits over the last three accounting years[17]. Dividend Policy - The board of directors proposed not to distribute a final dividend for the year 2023, pending approval at the annual general meeting on May 14, 2024[3]. - The company will not distribute cash dividends or issue bonus shares for the year 2023[5]. - The board's decision to not issue new shares or bonus shares is aimed at maintaining long-term shareholder interests and supporting stable development in the core pulp and paper business[101]. - The company plans to maintain its current profit distribution policy without issuing cash dividends or bonus shares[177]. Risks and Challenges - The company faces risks from macroeconomic fluctuations, national policies, and industry competition, which investors should be aware of[5]. - The company reported a significant decline in revenue from chemical pulp, down 47.10% year-on-year, contributing only 2.07% to total revenue[47]. - The paper industry is experiencing significant downward pressure on product prices due to capacity expansion and weak demand, but signs of profit improvement are emerging as pulp prices decline and paper demand recovers in 2024[85]. Innovation and Development - The company applied for 33 patents and received 42 patents in 2023, indicating a focus on innovation and long-term development[26]. - The company has established multiple research and development platforms, including a national enterprise technology center and a post-doctoral research station, enhancing its independent innovation capabilities[36]. - The company is developing several key technologies, including the development of non-fluorescent white cardboard, which is in the small trial stage and aims to enhance product functionality and market share[61]. - The company has achieved a total pulp production capacity of 4.3 million tons, making it the first modern large-scale paper enterprise in China to achieve self-sufficiency in wood pulp[38]. Market Position and Strategy - The company has established strategic cooperation with major clients from countries like South Korea and Sweden to expand its overseas market presence[26]. - The company aims to achieve over 10 billion yuan in profits and taxes during the 14th Five-Year Plan period, focusing on becoming a world-class enterprise with strong growth potential[86]. - In 2024, the company plans to enhance sales management and expand both domestic and international markets, particularly focusing on high-value products like liquid packaging and food-grade paper[88]. Corporate Governance - The company has maintained compliance with corporate governance standards set by regulatory bodies, ensuring independent operation of its board and supervisory committee[136]. - The board of directors consists of 11 members, including 4 independent directors, ensuring high decision-making quality[139]. - The company has established a remuneration and assessment committee responsible for setting evaluation standards and remuneration policies for non-independent directors and senior management[162]. - The company has a structured governance framework in place, adhering to regulations from the China Securities Regulatory Commission and other relevant bodies[168]. Financial Management - The company has implemented a supply chain management model that integrates procurement, production, and sales, optimizing costs and improving supply chain competitiveness[32]. - The company has increased its long-term borrowings to ¥4,681,014,489.64, which is 5.89% of total assets, reflecting a rise of 1.17%[69]. - The company reported a significant decrease of 191.95% in net cash flow from financing activities, mainly due to debt repayment during the reporting period[66]. - The company has a capital debt ratio of 61.70% as of December 31, 2023, an increase of 0.82% from 60.88% in 2022[130]. Employee Management - The total number of employees at the end of the reporting period was 10,604, with 2,522 in the parent company and 7,341 in major subsidiaries[171]. - The company has established a comprehensive employee training program aimed at enhancing management and operational skills, particularly for mid-to-senior level staff[176]. - The company has a structured approach to remuneration that includes performance evaluation and innovation capabilities of the executives[161]. Environmental Initiatives - The company invested over RMB 8 billion in environmental protection initiatives, including advanced pollution control systems[45]. - The company is responding to the "dual carbon" policy by integrating photovoltaic and biomass power generation into its operations[45]. - The company emphasizes clean production and energy conservation, positioning itself as a benchmark enterprise for resource-saving and environmentally friendly practices[33].

证券代码：000488 200488 证券简称：晨鸣纸业 晨鸣 B 公告编号：2024-007 一、审议通过了《关于转让御景酒店股权暨关联交易的议案》 为进一步聚焦制浆造纸主业发展，剥离非主业资产，持续优化资产结构，提升资 产质量，增加现金流入，增强公司盈利能力，公司拟将其持有的山东御景大酒店有限 公司（以下简称"御景酒店"）90.05%股权及对御景酒店享有的共计人民币 19,350.72 万元的债权以人民币 35,650 万元转让给寿光晨鸣广源地产有限公司（以下简称"广源 地产"）。本次交易完成后，公司将不再持有御景酒店的股权。 公司控股股东晨鸣控股有限公司持有广源地产 40%股权，寿光市恒泰企业投资有 限公司（以下简称"寿光恒泰"）持有广源地产 60%股权，公司董事长陈洪国先生、 副董事长胡长青先生、董事兼副总经理李峰先生、副总经理李雪芹女士及李振中先生 系寿光恒泰的股东，根据《深圳证券交易所股票上市规则》6.3.3 条规定，广源地产为 公司的关联法人，本次交易构成关联交易。 山东晨鸣纸业集团股份有限公司 第十届董事会第十四次临时会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 ...

山东晨鸣纸业集团股份有限公司 关于出售参股公司股权的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 一、交易概述 为进一步优化资产结构，聚焦制浆、造纸主业，增强公司盈利能力，山东晨鸣纸业 集团股份有限公司（以下简称"公司"）于2023年11月28日召开第十届董事会第十三次 临时会议审议通过了《关于公开挂牌出售金信期货股权的议案》，同意控股子公司寿光 美伦纸业有限责任公司（以下简称"寿光美伦"）在武汉光谷联合产权交易所江城产权 交易有限公司（以下简称"武汉光谷产权交易所"）通过公开挂牌方式以人民币19,700 万元的挂牌底价出售其持有的金信期货有限公司（以下简称"金信期货"）35.4331%股 权。详情请参阅公司于2023年11月29日在巨潮资讯网（www.cninfo.com.cn）及于2023年 11月28日在香港联交所网站（www.hkex.com.hk）上披露的相关公告。 证券代码：000488 200488 证券简称：晨鸣纸业 晨鸣 B 公告编号：2023-084 2023年12月25日，寿光美伦与粤开证券、鼎安欣合伙企业、陈平森签订了《产权 ...

证券代码：000488 200488 证券简称：晨鸣纸业 晨鸣 B 公告编号：2023-080 为进一步优化公司资产结构，聚焦制浆、造纸主业，增强公司盈利能力，公司控 股子公司寿光美伦纸业有限责任公司（以下简称"寿光美伦"）拟在武汉光谷联合产 权交易所江城产权交易有限公司以公开挂牌方式出售其持有的参股公司金信期货有 限公司（以下简称"金信期货"）35.4331%的股权，挂牌价格为人民币 19,700 万元， 最终交易价格及交易对方将根据公开挂牌交易结果确定。本次交易完成后，寿光美伦 将不再持有金信期货的股权。董事会授权公司管理层办理本次公开挂牌出售股权的相 关事宜，包括但不限于实施本次公开挂牌出售方案、签署股权转让协议、办理过户手 续等。 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 山东晨鸣纸业集团股份有限公司（以下简称"公司"）第十届董事会第十三次临 时会议通知于 2023 年 11 月 23 日以书面、邮件方式送达各位董事，会议于 2023 年 11 月 28 日以通讯方式召开，会议应到董事 11 人，实到董事 11 人，本次董事会的召开 符合国家有关 ...

Financial Performance - Revenue for Q3 2023 was CNY 7,156,893,450.74, a decrease of 17.54% compared to the same period last year[4] - Net profit attributable to shareholders was CNY -80,213,259.42, representing a decline of 868.74% year-over-year[4] - Net profit excluding non-recurring items was CNY -439,773,872.12, down 2306.75% from the previous year[4] - The net profit for the period was a loss of ¥819,432,789.71, compared to a profit of ¥301,362,180.44 in the previous period, indicating a significant decline[25] - Basic earnings per share were reported at -0.278, compared to 0.060 in the previous period, indicating a significant downturn[25] - The company reported a total comprehensive loss of ¥896,431,506.19 for the period, compared to a loss of ¥12,184,716.75 in the previous period[25] Cash Flow - Cash flow from operating activities for the year-to-date was CNY 3,641,357,960.67, an increase of 216.86% compared to the same period last year[4] - Net cash flow from operating activities increased by 216.86% year-on-year, attributed to a decrease in cash payments for raw materials and energy[12] - The company reported a net cash flow from operating activities of ¥3,641,357,960.67, an increase from ¥1,149,199,574.17 in the previous period[26] - Cash inflow from sales of goods and services was ¥19,790,425,836.46, down from ¥25,909,074,910.47, a decrease of about 23.6%[26] - Cash inflow from financing activities totaled approximately ¥26.74 billion, a decrease of 9.1% from the previous period's ¥29.42 billion[27] - Cash outflow from financing activities amounted to approximately ¥31.37 billion, an increase of 2.3% compared to ¥30.66 billion in the prior period[27] - Net cash flow from financing activities was negative at approximately -¥4.64 billion, worsening from -¥1.24 billion in the previous period[27] Assets and Liabilities - Total assets as of September 30, 2023, were CNY 79,826,170,457.29, a decrease of 5.31% from the end of the previous year[4] - Total current assets decreased to RMB 28.98 billion from RMB 32.72 billion as of December 31, 2022, a decline of approximately 11%[20] - Total non-current assets decreased to RMB 50.84 billion from RMB 51.58 billion, reflecting a reduction of about 1.4%[21] - Total liabilities decreased to RMB 58.26 billion from RMB 60.57 billion, indicating a reduction of approximately 3.8%[22] - The total equity attributable to shareholders decreased to ¥17,168,399,622.25 from ¥19,084,565,494.92, a decline of approximately 10.0%[23] - The total liabilities and equity amounted to ¥79,826,170,457.29, down from ¥84,301,017,409.62, reflecting a reduction of approximately 5.8%[23] Investment and Income - Investment income increased by 1692.67% year-on-year, mainly due to the sale of Wuhan Chenming and increased investment income from joint ventures[10] - Fair value changes in income improved by 67.83% year-on-year, influenced by stock price fluctuations of Bohai Bank shares held by the company[10] - Non-recurring gains and losses for the current period totaled CNY 359,560,612.70[5] - Other income decreased by 34.37% year-on-year, primarily due to a reduction in government subsidies related to daily operations[9] Debt and Borrowings - The company’s short-term borrowings decreased by 8.03% as part of debt reduction efforts[8] - The company redeemed a perpetual bond worth RMB 1 billion, with a total repayment amount of RMB 1,089.7 million completed by July 12, 2023[17] - The company sold 65.21% equity in Wuhan Chenming for RMB 480 million to optimize asset structure and improve cash flow[18] - Strategic investor Shandong Caixin Investment Co., Ltd. injected RMB 300 million into the subsidiary Zhanjiang Chenming to support its development[19] Inventory and Impairment - Credit impairment losses rose by 201.02% year-on-year, primarily due to an increase in bad debt provisions[11] - Asset impairment losses surged by 2336.57% year-on-year, mainly due to increased inventory write-downs in the mechanism paper segment[11] - Inventory decreased to RMB 5.54 billion from RMB 6.82 billion, reflecting a reduction of about 18.6%[20]

证券代码：000488 200488 证券简称：晨鸣纸业 晨鸣 B 公告编号：2023-075 山东晨鸣纸业集团股份有限公司 关于变更公司总经理的公告 二〇二三年十月八日 附件：个人简历 李伟先先生，41 岁，研究生学历。2002 年加入本公司，历任公司销售公司副经 理、销售公司经理、销售公司江苏区总经理、生活纸公司董事长、销售公司产品总经 理、营销副总监、营销总监、轮值总经理、金融事业部董事长等职务，现任公司执行 董事兼总经理。 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 目前李伟先先生持有公司 A 股股票 1,562,100 股，未在持有公司 5%以上股份的 股东、实际控制人等单位任职，与持有公司 5%以上股份的股东、实际控制人及公司 其他董事、监事、高级管理人员不存在关联关系；未受过中国证监会及其他有关部门 的处罚和证券交易所纪律处分；不存在因涉嫌犯罪被司法机关立案侦查或者涉嫌违法 违规被中国证监会立案稽查，尚未有明确结论的情形；不属于失信被执行人；不存在 《公司法》等相关法律法规及《公司章程》中规定的不得担任公司高级管理人员的情 形。 近日，山东晨 ...

法律意见书 二〇二三年九月 北京市中伦（青岛）律师事务所 关于山东晨鸣纸业集团股份有限公司 2023 年第三次临时股东大会 之 山东省青岛市香港中路 61 号乙远洋大厦 A 座 27-28 层 邮编：266071 27-28/F, Tower A, COSCO Plaza, 61B Hong Kong Middle Road, Qingdao, Shandong 266071, P.R. China 电话/Tel : +86 532 5572 8677/8678 传真/Fax : +86 532 8667 7666 www.zhonglun.com 北京市中伦（青岛）律师事务所 关于山东晨鸣纸业集团股份有限公司 2023 年第三次临时股东大会之 法律意见书 致：山东晨鸣纸业集团股份有限公司 北京市中伦（青岛）律师事务所（以下简称"本所"）接受山东晨鸣纸业集 团股份有限公司（以下简称"公司"）的委托，根据本法律意见书出具日前已经 发生或存在的事实和《中华人民共和国公司法》《中华人民共和国证券法》《上 市公司股东大会规则》《律师事务所从事证券法律业务管理办法》《律师事务所 证券法律业务执业规则（试行）》等中华人民 ...

证券代码：000488 200488 证券简称：晨鸣纸业 晨鸣 B 公告编号：2023-072 山东晨鸣纸业集团股份有限公司 关于控股子公司增资扩股暨引进战略投资者的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 为进一步降低公司资产负债率，优化资本结构，增强公司整体资本实力和竞争力， 山东晨鸣纸业集团股份有限公司（以下简称"公司"）拟引进山东省属国有重要骨干企 业山东省财欣资产运营有限公司全资子公司山东省财欣投资有限公司（以下简称"财欣 投资"）对控股子公司湛江晨鸣浆纸有限公司（以下简称"湛江晨鸣"或"目标公司"） 进行增资，增资金额为人民币30,000万元（其中人民币19,976.3531万元计入注册资本，剩 余人民币10,023.6469万元计入资本公积)。基于湛江晨鸣经营状况及公司整体战略发展的 考虑，公司及湛江晨鸣其他股东国开发展基金有限公司、北京川发投资管理有限公司、 厦门国贸产业发展股权投资基金合伙企业（有限合伙）、交银金融资产投资有限公司、 交汇晨鸣助力(苏州)新兴产业发展基金合伙企业(有限合伙)放弃本次增资的优先增资权。 2023年9月 ...

Financial Performance - Total revenue for the reporting period was CNY 12,564,962,781.31, a decrease of 24.65% compared to CNY 16,676,428,365.83 in the same period last year[11]. - Net profit attributable to shareholders was a loss of CNY 688,080,164.10, a decline of 398.98% from a profit of CNY 230,141,463.76 in the previous year[11]. - Basic earnings per share were -CNY 0.250, a decrease of 490.63% from CNY 0.064 in the previous year[11]. - The company reported a total profit of RMB 120.4 million in the paper and paper products industry for the first half of 2023, a year-on-year decrease of 44.6%[16]. - Revenue from the paper manufacturing segment was CNY 11,300,765,054.86, down 21.74% from CNY 14,440,493,130.31[36]. - Revenue from white cardboard dropped significantly by 51.40% to CNY 2,540,842,151.66, with costs decreasing by 39.04%[38]. - The company reported a significant increase in asset impairment losses by 2,336.57% to ¥43.31 million, primarily due to increased provisions for inventory depreciation[34]. Cash Flow and Liquidity - Net cash flow from operating activities increased by 78.62% to CNY 1,783,087,747.59, compared to CNY 998,264,209.45 in the same period last year[11]. - The current ratio is 62.61% and the quick ratio is 49.20% as of June 30, 2023, indicating good liquidity[23]. - The company’s cash and cash equivalents amounted to RMB 13.756 billion as of June 30, 2023, slightly down from RMB 14 billion at the end of the previous year[23]. Assets and Liabilities - Total assets decreased by 1.96% to CNY 82,652,860,756.58 from CNY 84,301,017,409.62[10]. - Net assets attributable to shareholders decreased by 4.18% to CNY 18,287,406,923.90 from CNY 19,084,565,494.92[10]. - The company has a total bank borrowings of RMB 41.483 billion as of June 30, 2023, down from RMB 42.288 billion at the end of the previous year[23]. - Short-term borrowings amounted to CNY 34,946,527,126.28, accounting for 42.28% of total assets, down from 43.16% last year, a decrease of 0.88%[41]. - Long-term borrowings rose to CNY 4,895,546,304.36, accounting for 5.92% of total assets, up from 4.72% last year, an increase of 1.20%[41]. Strategic Initiatives - The company plans to adjust its product structure to increase the development of high value-added products and improve asset utilization[17]. - The company aims to strengthen overseas market channels as part of its strategy to enhance efficiency and profitability[17]. - The company plans to focus on market expansion and new product development to improve future performance[39]. - The company is focused on innovation-driven strategies and optimizing industrial structure to enhance operational performance[51]. Environmental and Sustainability Efforts - The company has maintained its focus on green, low-carbon, and sustainable development strategies in its operations[17]. - The company has invested over ¥8 billion in environmental protection initiatives, including advanced pollution control systems, leading to industry-leading water reuse rates[32]. - The company has implemented advanced "ultrafiltration + reverse osmosis" technology, achieving a water reuse rate of over 75%[52]. - The company is actively responding to environmental risks by adopting energy-saving and emission-reduction technologies[52]. - The company has cumulatively invested over RMB 8 billion in environmental protection facilities, including alkaline recovery systems and wastewater treatment systems, leading to environmental indicators that are among the best in the country[77]. Risk Management - The company faces risks from macroeconomic fluctuations, national policy adjustments, and industry competition[2]. - The management emphasizes the importance of risk awareness for investors in light of current market conditions[2]. - The macroeconomic environment has led to weak downstream demand, but recovery is expected as consumption policies take effect[16]. Shareholder and Governance Matters - The company has committed to not reduce its holdings in the listed company shares from the date of the restructuring plan's first disclosure until its implementation[90]. - The company has guaranteed the authenticity, accuracy, and completeness of the information provided regarding the transaction, assuming legal responsibility for any misrepresentation[87]. - The company has committed to fulfilling all obligations related to the compensation measures and will compensate any losses incurred by investors due to violations of these commitments[100]. - The company has not faced any administrative penalties or significant civil lawsuits related to economic disputes in the past five years[127]. Employee and Talent Management - The total employee count is 10,364, with total employee compensation of RMB 545.95 million in the first half of 2023[23]. - The company emphasizes a "people-oriented" approach, enhancing employee satisfaction through improved HR management and various employee engagement activities[83]. - The company has established a strong talent structure with experienced professionals across various fields, contributing to its competitive advantage in the industry[31].

Financial Performance - The company reported its interim results for the six months ended June 30, 2023, with no significant doubts regarding its ability to continue as a going concern[2]. - The board of directors does not recommend the distribution of any interim dividend for the six months ended June 30, 2023[2]. - The financial statements are prepared based on the going concern principle and in accordance with the Chinese Accounting Standards[1]. - Total assets decreased by 1.96% to CNY 82.65 billion compared to the previous year[12]. - Operating revenue fell by 24.65% to CNY 12.56 billion year-on-year[13]. - Net profit attributable to shareholders decreased by 398.98%, resulting in a loss of CNY 688.08 million[13]. - Basic earnings per share dropped by 490.63% to CNY -0.250[13]. - The total profit of the paper and paper products industry decreased by 44.6% year-on-year, amounting to CNY 12.04 billion in the first half of 2023[18]. - The revenue from the paper manufacturing segment was CNY 11,300,765,054.86, down 21.74% from CNY 14,440,493,130.31[38]. - Total revenue decreased by 24.65% to CNY 12,564,962,781.31 compared to CNY 16,676,428,365.83 in the previous period[38]. Operational Challenges - The company faces risks from macroeconomic fluctuations, national policy adjustments, and industry competition[4]. - The company is facing challenges due to macroeconomic pressures and supply-demand imbalances in the paper industry[18]. - In the first half of 2023, the company's sales volume and prices of machine-made paper significantly declined year-on-year, particularly in the white card paper market, which severely impacted profitability[19]. - The price of white cardboard declined due to increased supply and insufficient demand, impacting profitability[52]. Cash Flow and Liquidity - Net cash flow from operating activities increased by 78.62% to CNY 1.78 billion[13]. - As of June 30, 2023, the company's current ratio was 62.61%, and the quick ratio was 49.20%, indicating good liquidity[25]. - The total bank borrowings amounted to RMB 41.483 billion as of June 30, 2023, down from RMB 42.288 billion at the end of the previous year[25]. - The company has compressed its debt scale, resulting in a significant decrease in net cash flow from financing activities by 762.46%[36]. Employee and Management - The company has a total of 10,364 employees, with total employee wages amounting to RMB 545.95 million in the first half of 2023[25]. - The company emphasizes the importance of investor awareness regarding investment risks[4]. - The company has established a strict internal control system for cash and fund management to strengthen financial management[25]. Environmental Compliance - The company has invested over 8 billion yuan in environmental protection measures, implementing advanced pollution control systems and achieving leading environmental indicators[34]. - The company has implemented advanced technologies for wastewater treatment, achieving a water reuse rate of over 75%[54]. - The company has a comprehensive environmental monitoring system, combining manual and automatic monitoring, to ensure compliance with environmental regulations[80]. - The company has not faced any administrative penalties due to environmental issues during the reporting period[81]. - The company has implemented measures to ensure that all emissions remain within regulatory limits, with no reported exceedances in major pollutants[70]. Strategic Initiatives - The company plans to enhance product structure by increasing the development of high value-added products and improving asset utilization to boost efficiency[19]. - The company aims to solidify overseas market channels as part of its strategy to improve quality and efficiency[19]. - The company is focused on innovation-driven strategies and optimizing industrial structure to mitigate risks from macroeconomic policy adjustments[53]. - The company has actively engaged in R&D collaborations with renowned universities and research institutions, enhancing its technological innovation capabilities[32]. Shareholder and Governance - The company has not engaged in any significant asset or equity sales during the reporting period, maintaining its current investment strategy[50]. - The company has committed to not reducing its holdings in the listed company shares from the date of the restructuring plan disclosure until its implementation[92]. - The company has fulfilled all commitments made by its actual controllers, shareholders, and related parties during the reporting period[134]. - The company has not reported any significant related party transactions, maintaining operational integrity[140]. Legal and Regulatory Compliance - The company has not faced any administrative penalties or significant civil litigation related to economic disputes in the past five years[130]. - The company has complied with all relevant laws and regulations during the asset restructuring process[136]. - The company has committed to not engaging in competitive businesses that may conflict with its subsidiaries, ensuring a focus on core operations[138].