山东晨鸣纸业集团股份有限公司 简式权益变动报告书 上市公司名称：山东晨鸣纸业集团股份有限公司 股票上市地点：深圳证券交易所；香港联合交易所有限公司 股票简称：ST 晨鸣、ST 晨鸣 B；晨鸣纸业 股票代码：000488、200488；01812 信息披露义务人：山东寿光金鑫投资发展控股集团有限公司 通讯地址：山东省寿光市商务小区 5 号楼 A 座 股权变动性质：国有股份无偿划转（减少） 签署日期：二〇二五年四月 信息披露义务人声明 一、信息披露义务人依据《中华人民共和国公司法》《中华人民共和国证券 法》《上市公司收购管理办法》《公开发行证券公司信息披露内容与格式准则第 15 号——权益变动报告书》及相关法律、法规、规范性文件编写本权益变动报 告书。 二、信息披露义务人签署本权益变动报告书已获得必要的授权和批准，其履 行亦不违反信息披露义务人章程及内部规定中的任何条款，或与之相冲突。 三、依据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司 收购管理办法》《公开发行证券公司信息披露内容与格式准则第 15 号——权益 变动报告书》的规定，本报告书已全面披露了信息披露义务人在山东晨鸣纸业集 团股份有限公司 ...

证券代码： 000488 200488 证券简称：ST 晨鸣 ST 晨鸣 B 公告编号：2025-033 山东晨鸣纸业集团股份有限公司 关于股东部分股份解除质押及新增轮候冻结的公告 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。 山东晨鸣纸业集团股份有限公司（以下简称"公司"）近日接到控股股东晨鸣控股 有限公司（以下简称"晨鸣控股"）函告，获悉其所持有本公司的部分股份解除质押、 部分股份被轮候冻结，具体事项如下： 二、本次股份被轮候冻结基本情况 | 股东 | 是否为控股股东或 第一大股东及其一 | 股份 | 本次轮候冻结 | 占其所持 | 占公司总 | 是否为限售股 | 委托日期 | 轮候期限 | 轮候冻结执行 | 原因 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 致行动人 | 类别 | 股份数量（股） | 股份比例 | 股本比例 | 及限售类型 | | | 人名称 | | | 晨鸣 | 是 | A股 | 12,951,501 | 1.58% | 0. ...

证券代码：000488、200488 证券简称：ST 晨鸣、ST 晨鸣 B 山东晨鸣纸业集团股份有限公司 投资者关系活动记录表 编号：2025-001 投资者关系活动类 别 □特定对象调研 □分析师会议 □媒体采访 ☑业绩说明会 □新闻发布会 □路演活动 □现场参观 □电话会议 参与单位名称及人 员姓名 参与公司 2024 年度业绩说明会的网上投资者 时间 2025 年 4 月 7 日 15:00—16:00 地点 全景网·投资者关系互动平台（http://ir.p5w.net） 形式 网络文字交流 上市公司接待人员 董事长 胡长青先生； 执行董事兼总经理 李伟先先生 独立非执行董事 尹美群女士； 财务总监 董连明先生； 董事会秘书 袁西坤先生； 证券投资部、财务资本管理中心相关工作人员。 交流内容及具体问 答记录 公司于 2025 年 4 月 7 日 15:00—16:00，通过"全景网·投 资者关系互动平台"（http://ir.p5w.net）举办 2024 年度公司业 绩说明会，投资者关注的主要问题如下： 一、征集投资者问题及回复： 1、请问，预计何时复工复产？ 回复：尊敬的投资者，您好！复工复产情况 ...

近日，晨鸣纸业发布2024年度财务报告，报告显示公司全年净亏损高达74.11亿元，这一数字较去年同 期的12.81亿元净亏损大幅扩大，引发了市场的广泛关注。 据财报数据显示，晨鸣纸业2024年营业收入为227.29亿元，同比减少14.58%。这一营收下滑与公司面临 的多重挑战密切相关。受到限产、停机检修等因素的影响，公司机制纸产量和销量均出现下滑，分别完 成427万吨和447万吨，较去年有所下降。此外，造纸行业整体供需矛盾突出，新增产能集中投放导致市 场供过于求，公司主要纸品价格特别是白卡纸价格大幅下滑，进一步挤压了公司的盈利空间。 晨鸣纸业的亏损不仅仅体现在净利润上，其财务状况也堪忧。财报显示，截至2024年末，公司及子公司 累计新增债务逾期达16.56亿元，占最近一期经审计归母净资产的18.09%。这一数字表明，公司在债务 管理方面面临巨大压力，逾期债务的增加可能进一步加剧公司的资金紧张状况。 值得注意的是，晨鸣纸业的资产负债率也处于较高水平。截至2024年末，公司资产负债率已接近80%。 高负债率不仅增加了公司的财务成本，还限制了公司的融资能力，使得公司在面对市场波动时更加脆 弱。 由于债务暴雷、出现流 ...

Financial Performance - The company reported its annual performance for the year ending December 31, 2024, in accordance with the Hong Kong Stock Exchange listing rules[3]. - The company's operating revenue for 2024 was CNY 22.73 billion, a decrease of 14.58% compared to CNY 26.61 billion in 2023[18]. - The net profit attributable to shareholders for 2024 was a loss of CNY 7.41 billion, representing a significant decline of 478.38% from a loss of CNY 1.28 billion in 2023[18]. - The net cash flow from operating activities decreased by 40.25% to CNY 2.62 billion in 2024, down from CNY 4.39 billion in 2023[18]. - The total assets at the end of 2024 were CNY 63.51 billion, a reduction of 20.10% from CNY 79.49 billion at the end of 2023[18]. - The net assets attributable to shareholders decreased by 45.15% to CNY 9.16 billion at the end of 2024, down from CNY 16.69 billion at the end of 2023[18]. - The basic earnings per share for 2024 was CNY -2.53, a decline of 462.22% from CNY -0.45 in 2023[18]. - The weighted average return on equity for 2024 was -57.25%, a decrease of 49.60 percentage points from -7.65% in 2023[18]. - The company incurred a net loss of RMB 7.41 billion attributable to shareholders, compared to a profit in the previous year[55]. - In 2024, the company's total revenue was RMB 22.73 billion, a decrease of 14.58% compared to RMB 26.61 billion in 2023[57]. Dividend and Shareholder Matters - The board of directors proposed not to distribute a final dividend for the fiscal year 2024, pending shareholder approval at the annual general meeting on May 15, 2025[6]. - The company has not announced any cash dividends, bonus shares, or capital increases from reserves for the current fiscal year[11]. - The company will suspend share transfer registration from May 12 to May 15, 2025, to determine the list of H-share shareholders eligible to attend the annual general meeting[7]. Risks and Challenges - The company faced risks from macroeconomic fluctuations, national policies, and industry competition, which could impact future performance[10]. - The company has indicated uncertainty regarding its ability to continue as a going concern due to negative net profits in recent years[19]. - The company faced challenges due to a significant drop in white cardboard prices, leading to weakened profitability and losses[31]. - The company is facing temporary liquidity tightness and overdue debts in 2024 due to declining product prices and reduced loan sizes from financial institutions, but plans to mitigate debt risks through various measures[103]. Operational Strategies - The company plans to enhance its market expansion strategies and explore new product development opportunities[10]. - The company has implemented production restrictions and maintenance on some production bases since November to reduce losses[31]. - The company is actively pursuing the disposal of non-core assets to improve liquidity and has formed an asset management center to enhance asset disposal efficiency[33]. - The company is engaging with strategic investors to secure operational funding for resuming production[34]. - The company aims to optimize product structure and strengthen cost management to improve operational quality[55]. - The company plans to enhance customer satisfaction and market share through the development of various new product technologies[70]. Research and Development - The company has established multiple leading innovation research platforms, including a national enterprise technology center and a postdoctoral research station, to enhance its technological capabilities[40]. - Research and development projects include the development of high-end kitchen paper technology, aimed at increasing product functionality and market share[70]. - R&D expenditure amounted to ¥1,080,331,754.42 in 2024, a decrease of 7.22% compared to ¥1,164,419,698.13 in 2023, while the proportion of R&D expenditure to operating revenue increased from 4.38% to 4.75%[71]. Governance and Management - The company’s governance structure complies with the relevant regulations and standards set by the China Securities Regulatory Commission and stock exchanges[159]. - The board of directors consists of 10 members, including 4 independent directors, and held 10 meetings during the reporting period[162]. - The company has a structured approach to governance, with clear roles and responsibilities outlined for its board members and executives[186]. - The company has not faced any penalties from securities regulatory authorities in the past three years, reflecting compliance and governance integrity[184]. - The company emphasizes the importance of governance with a diverse board composition, including professionals from finance, law, and academia[178]. Environmental and Social Responsibility - The company invested over RMB 8 billion in environmental protection initiatives, including advanced pollution control systems[54]. - The company is committed to green development and aims to establish itself as a benchmark for resource-saving and environmentally friendly enterprises[100]. - The company has implemented advanced water recycling technology, achieving over 75% reuse rate of treated water, in response to increasing environmental regulations[109]. Market Conditions - The white card paper industry is facing significant challenges, with prices remaining in a downward trend due to increased supply and sluggish demand[38]. - The paper industry is experiencing price pressure due to increased supply and weak demand, with expectations for production growth in 2025[99]. - The company anticipates that the supply-demand imbalance in the paper industry will ease, leading to improved market conditions by 2025[101]. Employee Matters - The total number of employees at the end of the reporting period is 9,594, with 2,041 in the parent company and 6,847 in major subsidiaries[198]. - Employee compensation includes salaries, bonuses, and various benefits, determined based on market levels, social averages, and government guidelines[200]. - The educational background of employees shows 24 with postgraduate degrees or above, 793 with bachelor's degrees, 2,161 with associate degrees, and 6,616 with vocational or lower education levels[198].

Core Viewpoint - Morning Paper Industry reported a significant loss in 2024, with revenue of 22.729 billion yuan and a net loss of 7.411 billion yuan, while net assets stood at 9.156 billion yuan by the end of 2024 [1] Company Summary - The company is implementing a dual strategy of "stopping the bleeding and generating blood" to address financial difficulties, supported by government and financial institutions [2][4] - Morning Paper Industry is focusing on strategic adjustments and operational improvements, including production resumption plans, cost control, market expansion, and asset disposal [2][3] - Internal management is being restructured to achieve a flatter organization, optimize personnel allocation, and enhance operational efficiency [3] - The company has established a provincial-level creditor committee with financial creditors to facilitate debt restructuring and maintain stable credit lines [4] Industry Summary - The paper industry is facing challenges such as environmental regulations, changing market demand, and increased competition, leading to price pressures and declining profit margins [2][8] - There is a recent trend of recovery in the global paper industry, with expectations of price increases for cultural and packaging paper [6][7] - The cost of raw materials, particularly wood pulp, has stabilized and begun to rise, which may help mitigate some cost pressures for companies like Morning Paper Industry [7] - Government policies aimed at boosting consumption are expected to improve market demand for paper products, contributing to a potential recovery in the industry [6][8]

关于开展应收账款保理业务的公告 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。 一、交易概述 为满足山东晨鸣纸业集团股份有限公司（以下简称"公司"）业务发展需求，提高资 金使用效率，公司及合并报表范围内控股子公司拟与国内商业银行、商业保理公司等具备 相关业务资格的机构（以下简称"合作机构"）开展应收账款保理业务，保理融资额度不 超过人民币 30 亿元，具体每笔保理业务金额及期限以单项保理合同约定期限为准。 证券代码： 000488 200488 证券简称：ST 晨鸣 ST 晨鸣 B 公告编号：2025-018 山东晨鸣纸业集团股份有限公司 4、保理融资金额：保理融资金额总计不超过人民币 30 亿元。 5、保理方式：应收账款债权无追索权保理方式及应收账款债权有追索权保理方式。 6、保理融资利息：根据市场费率水平由双方协商确定。 7、主要责任及说明： （1）开展应收账款有追索权保理业务，公司或合并报表范围内控股子公司应继续履行 服务合同项下的其他所有义务，并对有追索权保理业务融资对应的应收账款承担偿还责任， 合作机构若在约定期限内不能足额收到应收账款、融资利息，则 ...

山东晨鸣纸业集团股份有限公司 2024 年度内部控制自我评价报告 山东晨鸣纸业集团股份有限公司全体股东： 根据公司非财务报告内部控制重大缺陷认定情况，于内部控制评价报告基准日，未 1 发现非财务报告内部控制重大缺陷。自内部控制评价报告基准日至内部控制评价报告发 出日之间未发生影响内部控制有效性评价结论的因素。 根据《企业内部控制基本规范》及其配套指引的规定和其他内部控制监管要求（以 下简称"企业内部控制规范体系"），结合本公司（以下简称"公司"）内部控制制度 和评价办法，在内部控制日常监督和专项监督的基础上，我们对公司2024年12月31日（内 部控制评价报告基准日）的内部控制有效性进行了评价。 一、重要声明 按照企业内部控制规范体系的规定，建立健全和有效实施内部控制，评价其有效性， 并如实披露内部控制评价报告是公司董事会的责任。监事会对董事会建立和实施内部控 制进行监督。经理层负责组织领导企业内部控制的日常运行。公司董事会、监事会及高 级管理人员保证本报告内容不存在任何虚假记载、误导性陈述或重大遗漏，并对报告内 容的真实性、准确性和完整性承担个别及连带法律责任。 公司内部控制的目标是合理保证经营管理合法合规 ...

山东晨鸣纸业集团股份有限公司 （二）修订治理制度 报告期内，公司根据《上市公司独立董事管理办法》、《深圳证券交易所股票上市 规则》、《上市公司自律监管指引第 1 号——主板上市公司规范运作》等法律法规、规 范性文件的相关规定，结合公司实际情况，对《公司章程》、《董事会议事规则》、《股 东大会议事规则》、《独立董事管理办法》、《董事会审计委员会实施细则》、《董事 会提名委员会实施细则》、《董事会薪酬与考核委员会实施细则》、《独立董事年报工 作制度》等治理制度进行了修订，进一步提高公司的规范治理水平。 （三）董事会会议召开情况 二〇二四年度董事会工作报告 2024年，山东晨鸣纸业集团股份有限公司（以下简称"公司"）董事会严格按照《公 司法》、《证券法》、《深圳证券交易所股票上市规则》、《香港联合交易所有限公司 证券上市规则》等相关法律法规以及《公司章程》、《董事会议事规则》等公司规章制 度的规定，勤勉忠实地履行各项职责，积极有效地开展董事会各项工作，严格执行股东 大会各项决议，促进公司规范运作，提升公司治理水平。 一、2024 年度公司经营情况 近年来，造纸行业面临严峻的市场环境，新增产能集中投放导致短期内供需矛 ...