Group 1 - The paper sector experienced a slight increase of 0.02% on November 7, with Sun Paper leading the gains [1] - The Shanghai Composite Index closed at 3997.56, down 0.25%, while the Shenzhen Component Index closed at 13404.06, down 0.36% [1] - Key stocks in the paper sector showed varied performance, with Sun Paper closing at 14.71, up 2.22%, and other notable stocks like Xianhe Co. and Guanmeng High-tech also showing positive gains [1] Group 2 - The paper sector saw a net outflow of 156 million yuan from institutional investors, while retail investors contributed a net inflow of 215 million yuan [2] - The trading volume and turnover for various stocks in the paper sector varied significantly, with Sun Paper leading in both volume and turnover [2] - Specific stocks like Songyang Resources and Laifeng Co. experienced significant declines, with Songyang Resources down 5.01% [2] Group 3 - Sun Paper had a net inflow of 82.83 million yuan from institutional investors, while it faced outflows from retail and speculative investors [3] - Other stocks like Bohui Paper and Guanmeng High-tech also showed mixed net inflows and outflows from different investor categories [3] - The overall sentiment in the paper sector appears to be cautious, with significant net outflows from institutional and speculative investors [3]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年10月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 山東晨鳴紙業集團股份有限公司 FF301 呈交日期: 2025年11月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | A | | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 000488 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,706,765,684 | RMB | | | 1 RMB | | 1,706,765,684 | | 增加 / 減少 (-) | | | | | | | RMB | | | | 本月底結存 | | | 1,706,765,684 | RMB | | | 1 RMB | | 1,706,765,684 | ...

Core Viewpoint - The report highlights the growth and export potential of China's paper and paper products industry, with a focus on recent statistics and future projections [1] Industry Summary - As of September 2025, the export value of China's paper and paper products industry reached 7 billion yuan, reflecting a year-on-year increase of 0.1% [1] - Cumulatively, from January to September 2025, the total export value amounted to 59.49 billion yuan, showing a year-on-year growth of 2.2% [1] - The report provides a comprehensive analysis of the development patterns and market operation potential of the paper industry from 2026 to 2032 [1] Company Summary - The report mentions several listed companies in the paper industry, including Chenming Paper (000488), Kane Co. (002012), Jingxing Paper (002067), and others, indicating a broad spectrum of players in the market [1] - The analysis is supported by data from the National Bureau of Statistics and insights from Zhiyan Consulting, a leading industry consulting firm in China [1]

Core Insights - The company, Shandong Chenming Paper Holdings Limited (ST Chenming), has shown signs of recovery in its third quarter financial performance, with key operational indicators improving and production capacity gradually resuming [1][2] Financial Performance - In the third quarter, ST Chenming's production of paper increased by 41% compared to the previous quarter, and the gross profit margin for products improved by 13% [1] - The company has implemented a "full-chain cost reduction and efficiency enhancement" initiative, leading to a significant decrease in operating expenses. In the first three quarters, financial, management, and sales expenses collectively decreased by 14% year-on-year [1] Governance and Management - On October 28, the company completed a new board of directors' election, marking an important milestone for corporate reform and governance improvement [2] - The new leadership team aims to focus on stabilizing operations, promoting reforms, strengthening management, and enhancing efficiency to guide the company into a new phase of stable development [2]

Core Viewpoint - Chenming Paper Industry (01812.HK) announced the resignation of Hu Changqing as an authorized representative, effective from October 28, 2025, and appointed Jiang Yanshan as the new authorized representative in accordance with the Hong Kong Stock Exchange Listing Rules [1] Group 1 - Hu Changqing will no longer serve as the company's authorized representative after his resignation [1] - Jiang Yanshan has been appointed as the company's authorized representative, effective from October 28, 2025 [1] - The appointment of Jiang Yanshan complies with the Hong Kong Stock Exchange Listing Rules, specifically Article 3.05 [1]

Core Points - Chenming Paper (01812) announced the resignation of Mr. Hu Changqing, who will no longer serve as the company's authorized representative effective October 28, 2025 [1] - The company's executive director, Mr. Jiang Yanshan, has been appointed as the new authorized representative effective October 28, 2025, in accordance with the Hong Kong Stock Exchange Listing Rules Section 3.05 [1]

Core Points - Chenming Paper Industry (01812) announced the resignation of Mr. Hu Changqing as an authorized representative, effective from October 28, 2025 [1] - Mr. Jiang Yanshan, the executive director, has been appointed as the new authorized representative according to the Hong Kong Stock Exchange Listing Rules, effective from October 28, 2025 [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴 該等內容而引致之任何損失承擔任何責任。 自胡長青先生卸任後，其同時不再擔任本公司授權代表，自二零二五年十月二十 八日生效，且本公司執行董事姜言山先生根據香港聯合交易所有限公司證券上市 規則第3.05條獲委任為本公司授權代表，自二零二五年十月二十八日生效。 承董事會命 山東晨鳴紙業集團股份有限公司 姜言山 主席 中國，山東 二零二五年十月三十日 山東晨鳴紙業集團股份有限公司 SHANDONG CHENMING PAPER HOLDINGS LIMITED* （於中華人民共和國註冊成立的股份有限公司） （股份代號：1812） 授權代表變更 茲提述山東晨鳴紙業集團股份有限公司（「本公司」）日期為二零二五年十月二十八 日的二零二五年第一次臨時股東大會結果公告，內容有關（其中包括）選舉本公司 第十一屆董事會。 於本公告日期，執行董事為姜言山先生、李偉先先生、劉培吉先生、孟峰先生和 朱艷麗女士；非執行董事為宋玉臣先生及王穎女士；及獨立非執行董事為張志元 先 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1812） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 山東晨鳴紙業集團股份有限公司 SHANDONG CHENMING PAPER HOLDINGS LIMITED* 茲載列山東晨鳴紙業集團股份有限公司在深圳證券交易所網站刊登日期為二零二 五年十月三十日的「山東晨鳴紙業集團股份有限公司關於計提資產減值準備的公 告」，僅供參閱。 承董事會命 山東晨鳴紙業集團股份有限公司 姜言山 主席 中國，山東 二零二五年十月三十日 於本公告日期，執行董事為姜言山先生、李偉先先生、劉培吉先生、孟峰先生 和朱艷麗女士；非執行董事為宋玉臣先生及王穎女士；及獨立非執行董事為 張志元先生、羅新華先生、萬剛先生及孔鵬志先生。 * 僅供識別 证券代码：000488 200488 证券简称：ST 晨鸣 ST 晨鸣 B 公告编号：2025 ...

Core Viewpoint - Morning Paper Industry (01812) reported a significant decline in revenue and a substantial increase in net loss for the first three quarters of 2025 compared to the previous year [1] Financial Performance - The company achieved an operating revenue of approximately 3.348 billion, representing a year-on-year decrease of 83.11% [1] - The net loss attributable to shareholders reached 6.008 billion, which is an increase of 746.05% year-on-year [1] - The basic loss per share was reported at 2.05 yuan [1]