该议案已经公司董事会审计委员会审议通过。 证券代码：000488 200488 证券简称：ST 晨鸣 ST 晨鸣 B 公告编号：2025-071 山东晨鸣纸业集团股份有限公司 第十一届董事会第二次会议决议公告 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"）第十一届董事会第二 次会议通知于 2025 年 10 月 28 日以书面方式送达各位董事，会议于 2025 年 10 月 30 日以通讯方式召开。鉴于公司于 2025 年 10 月 28 日完成董事会换届选举，经第 十一届董事会全体董事一致同意，本次会议豁免了会议通知时间要求。本次会议 应出席董事 11 人，实际出席董事 11 人，会议的召集、召开程序符合国家有关法律 法规及《公司章程》的规定。 与会董事认真审议并一致通过了本次会议的各项议案，形成会议决议如下： 一、审议通过了《公司 2025 年第三季度报告》 本议案表决结果：同意票 11 票，反对票 0 票，弃权票 0 票。 详细内容请参阅同日披露在巨潮资讯网站（www.cninfo.com.cn）及香港联 ...

Core Viewpoint - ST晨鸣 reported a significant decline in revenue and net profit for the first three quarters of 2025, indicating severe financial challenges ahead [1] Financial Performance - The company achieved an operating revenue of 3.348 billion yuan, representing a year-on-year decrease of 83.11% [1] - The net profit attributable to shareholders was -6.008 billion yuan, indicating substantial losses [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -5.810 billion yuan [1] - The basic earnings per share stood at -2.05 yuan, reflecting the company's financial difficulties [1]

Core Viewpoint - Chenming Paper Industry (01812.HK) reported a significant decline in revenue and an increase in net loss for the third quarter of 2025, indicating ongoing financial challenges for the company [1] Financial Performance - Revenue for Q3 2025 was approximately RMB 1.241 billion, a year-on-year decrease of 79.1% [1] - Net loss for Q3 2025 was around RMB 2.15 billion, an increase of 191.02% year-on-year [1] - For the first three quarters of 2025, revenue totaled approximately RMB 3.348 billion, reflecting a year-on-year decrease of 83.11% [1] - Net loss for the first three quarters of 2025 reached about RMB 6.007 billion, marking a substantial increase of 746.05% year-on-year [1] - Basic earnings per share for Q3 2025 was -RMB 0.74 [1]

Core Insights - Morning Paper Industry (01812.HK) reported a significant decline in revenue and a substantial increase in net loss for Q3 2025 compared to the previous year [1] Financial Performance - Revenue for Q3 2025 was approximately RMB 1.241 billion, representing a year-on-year decrease of 79.1% [1] - The net loss for Q3 2025 was around RMB 2.15 billion, which is an increase of 191.02% year-on-year [1] - For the first three quarters of 2025, revenue totaled approximately RMB 3.348 billion, down 83.11% year-on-year [1] - The net loss for the first three quarters reached about RMB 6.007 billion, marking a staggering increase of 746.05% year-on-year [1]

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） 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。 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。 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"）第十一届董事会第二 次会议通知于 2025 年 10 月 28 日以书面方式送达各位董事，会议于 2025 年 10 月 30 日以通讯方式召开。鉴于公司于 2025 年 10 月 28 日完成董事会换届选举，经第 十一届董事会全体董事一致同意，本次会议豁免了会议通知时间要求。本次会议 应出席董事 11 人，实际出席董事 11 人，会议的召集、召开程序符合国家有关法律 法规及《公司章程》的规定。 ...

Financial Performance - Revenue for the third quarter was CNY 1,241,229,778.93, a decrease of 79.10% compared to the same period last year[7] - Net profit attributable to shareholders was CNY -2,149,863,362.61, representing a decline of 191.02% year-on-year[7] - The basic earnings per share for the quarter was CNY -0.74, a decrease of 193.65% compared to the same period last year[7] - Operating revenue for the first nine months of 2025 decreased by 83.11% to ¥3,347,860,731.23 compared to ¥19,824,745,808.47 in the same period of 2024[15] - The company reported an operating loss of CNY -6,522,843,446.78, worsening from a loss of CNY -1,076,336,558.63 in the previous period[30] - The net profit for the current period is -6,436,508,734.22, compared to -809,406,479.38 in the previous period, indicating a significant loss increase[31] - The total comprehensive income for the current period is -6,426,004,555.73, compared to -761,769,017.59 in the previous period[31] - The company incurred a loss attributable to shareholders of the parent company of -6,007,816,553.17, compared to -710,098,519.92 in the previous period[31] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 702,589,282.04, down 70.53% compared to the previous year[7] - Net cash flow from operating activities fell by 70.53% to ¥702,589,282.04, driven by reduced sales revenue from lower production output[17] - Net cash flow from investing activities decreased by 173.53% to -¥463,982,036.31, as the company repurchased minority stakes in subsidiaries[17] - Net cash flow from financing activities improved by 92.00% to -¥279,188,820.55, due to interest rate reductions and loan extensions from financial institutions[17] - Cash flow from operating activities generated a net cash flow of 702,589,282.04, down from 2,384,383,407.80 in the previous period[33] - Cash inflow from financing activities totaled 19,128,182,701.11, while cash outflow was 19,407,371,521.66, resulting in a net cash flow of -279,188,820.55[34] - The cash inflow from investment activities was 48,154,127.20, significantly lower than 694,048,969.12 in the previous period[33] Assets and Liabilities - Total assets as of September 30, 2025, were CNY 52,854,974,409.43, a decrease of 16.78% from the end of the previous year[7] - Current assets decreased to CNY 8,527,951,775.67 from CNY 15,890,976,841.18 at the beginning of the period[25] - The company’s total liabilities decreased to CNY 47,510,525,367.19 from CNY 50,673,524,516.93 at the beginning of the period[27] - Cash and cash equivalents decreased significantly to CNY 731,639,703.39 from CNY 5,909,879,812.18 at the beginning of the period[25] - The total assets decreased to CNY 52,854,974,409.43 from CNY 63,509,295,142.08 at the beginning of the period[28] Shareholder Information - The total number of common shareholders at the end of the reporting period was 109,647, with the largest shareholder, Chenming Holdings Limited, holding 15.50%[21] - The company reported basic and diluted earnings per share of -2.05, compared to -0.242 in the previous period[31] Operational Changes - The company aims to enhance operational efficiency and optimize product structure to ensure stable operations moving forward[23] - The company has resumed full production at its Shouguang and Jilin production bases, with ongoing efforts to improve cost efficiency[23] - The company plans to focus resources on developing advantageous product categories and improving budget management[23] Impairment Losses - Credit impairment losses increased by 536.11% to -¥1,341,707,401.59, reflecting higher provisions for bad debts[18] - Asset impairment losses surged by 14,385.35% to -¥440,561,409.32, primarily due to increased provisions for equipment impairment[18] Operating Costs and Expenses - Operating costs decreased by 69.95% to ¥5,432,612,403.50, primarily due to production base shutdowns affecting sales volume[15] - Research and development expenses dropped by 93.90% to ¥55,005,532.38, attributed to reduced R&D investment during production base maintenance[15] - Investment income plummeted by 467.97% to -¥715,405,073.98, mainly due to decreased returns from equity investments[15] - Total operating costs for the current period amount to CNY 7,289,484,559.58, compared to CNY 21,139,848,178.56 in the previous period[30]

Core Viewpoint - ST晨鸣 reported a significant decline in financial performance for the first three quarters of 2025, with a substantial drop in revenue and a shift to net losses [1] Financial Performance - The company achieved an operating revenue of 3.348 billion yuan, representing a year-on-year decrease of 83.11% [1] - The net profit attributable to shareholders was a loss of 6.008 billion yuan, marking a transition from profit to loss compared to the previous year [1] Reasons for Performance Decline - The major reason for the performance decline was the shutdown of several production bases for maintenance during the reporting period, which led to a decrease in the sales volume of paper products [1] - There was a significant increase in credit impairment losses and asset impairment losses, which further exacerbated the losses [1]

注：合计金额与各分项数值之和尾数差异，系四舍五入所致。 二、本次计提资产减值准备的确认标准及计提方法 1、应收款项 公司考虑有关过去事项、当前状况以及未来经济状况的预测等合理且有依据 的信息，以发生违约的风险为权重，计算合同应收的现金流量与预期能收到的现 金流量之间差额的现值的概率加权金额，确认预期信用损失。以预期信用损失为 基础，对应收账款、其他应收款、其他流动资产、长期应收款和债务重组进行减 值会计处理并确认损失准备。 公司对于处于不同阶段的金融工具的预期信用损失分别进行计量。金融工具 自初始确认后信用风险未显著增加的，处于第一阶段，按照未来12个月内的预期 信用损失计量损失准备；金融工具自初始确认后信用风险已显著增加但尚未发生 信用减值的，处于第二阶段，按照该工具整个存续期的预期信用损失计量损失准 备；金融工具自初始确认后已经发生信用减值的，处于第三阶段，按照该工具整 证券代码：000488 200488 证券简称：ST 晨鸣 ST 晨鸣 B 公告编号：2025-073 山东晨鸣纸业集团股份有限公司 关于计提资产减值准备的公告 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 ...

山东晨鸣纸业集团股份有限公司 2025 年第三季度报告 证券代码：000488 200488 证券简称：ST 晨鸣 ST 晨鸣 B 公告编号：2025-072 2025 年第三季度报告 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。 重要内容提示： 1、董事会及董事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担 个别和连带的法律责任。 2、公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 山东晨鸣纸业集团股份有限公司 □是 ☑否 1 山东晨鸣纸业集团股份有限公司 2025 年第三季度报告 一、主要财务数据 （一） 主要会计数据和财务指标 3、第三季度报告是否经过审计 公司是否需追溯调整或重述以前年度会计数据 □是 ☑否 | | 本报告期 | 本报告期比上年同 | 年初至报告期末 | 年初至报告期末 | | --- | --- | --- | --- | --- | | | | 期增减 | | 比上年同期增减 | | 营业收入（元） | 1,241,229, ...

公告称，截至公告日，姜言山未持有公司股票，与其他董监高无关联关系。 【ST晨鸣：姜言山当选董事长，曾在寿光市财政局任职】10月29日，ST晨鸣（000488.SZ）公告披露董 事会换届结果，选举姜言山为公司第十一届董事会董事长，在总经理空缺期间代其履行职责。 公告显示，姜言山出生于1974年1月，中国国籍，无境外永久居留权，中共党员，本科学历。其职业生 涯起步于地方政府财经系统，曾任寿光市财政局办公室副主任、主任，寿光市财税政策研究中心主任， 寿光市财政局党组成员，全国蔬菜标准质量中心推广科科长等职务。现任晨鸣控股党支部副书记、公司 董事长。 ST晨鸣方面表示，公司当前处于复工复产与风险化解的过渡阶段，暂未聘任新总经理，由姜言山代行 职责，直至公司按程序聘任总经理为止。中经记者 陈家运 北京报道 ...