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].

证券代码： 000488 200488 证券简称：晨鸣纸业 晨鸣 B 公告编号：2023-063 山东晨鸣纸业集团股份有限公司 关于股东股份质押的公告 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"）近日接到第一大股东晨鸣控 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办理了质 押业务，具体事项如下： 3、深交所要求的其他文件。 特此公告。 山东晨鸣纸业集团股份有限公司董事会 二〇二三年八月二十八日 | | 是否为控 | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东 | 股股东或 | 股份 | 质押数量 | 占其所 | 占公司 | 是否 | 是否为 | 质押起始 | | | 质押 | | 名称 | 第一大股 | 类别 | （股） | 持股份 | 总股本 | 为限 | 补充质 | 日 | 质押到期日 | 质权人 | 用途 | | | 东及其一 ...

关于诉讼的进展公告 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。 山东晨鸣纸业集团股份有限公司（以下简称"公司"）于 2022 年 6 月 21 日在巨 潮资讯网（www.cninfo.com.cn）披露了《关于诉讼的进展公告》（公告编号：2022-053）， 披露了公司与 Arjowiggins HKK2 Limited（以下简称"HKK2"）成立的合资公司阿尔 诺维根斯晨鸣特种纸有限公司纠纷案件的相关清盘呈请最新消息及香港终审法院作 出的裁决。 2022 年 10 月 25 日，公司委托香港法律顾问向原讼法庭申请寻求撤销或押后由 HKK2 对本公司提出的清盘呈请。2023 年 7 月 25 日，原讼法庭就上述申请进行聆讯。 证券简称： 晨鸣纸业 晨鸣 B 证券代码：000488 200488 公告编号：2023-062 山东晨鸣纸业集团股份有限公司 当前公司生产经营正常，各项经营指标持续改善，本次判决不会对公司的财务状 况及生产经营造成不利影响。公司将继续与法律顾问商讨，并积极探索一切可行的措 施来维护公司和广大投资者的合法权益，敬请广大投资者注意投资风 ...

山东晨鸣纸业集团股份有限公司 关于股东股份质押业务续作的公告 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。 证券代码： 000488 200488 证券简称：晨鸣纸业 晨鸣 B 公告编号：2023-061 山东晨鸣纸业集团股份有限公司（以下简称"公司"）近日接到第一大股东晨鸣控 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 A 股股份办理 了质押续作业务，具体事项如下： 二、股东股份累计质押基本情况 截至本公告披露日，上述股东所持质押股份情况如下： | | | | | | | | 已质押股份 | | 未质押股份 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 本次质押业 | 本次质押业 | | | 情况 | | 情况 | | | | 持股数量 | 持股 | 务续作前质 | 务续作后质 | 占其所 | 占公司 | 已质押 | 占已 | 未质押 | 占未 | | 股东名称 | | | | | 持股份 | 总股本 | 股份限 | | ...

Financial Performance - The company's operating revenue for Q1 2023 was CNY 6,155,915,692.16, a decrease of 27.70% compared to CNY 8,514,983,059.74 in the same period last year[4] - The net profit attributable to shareholders was CNY -275,409,967.37, representing a decline of 341.76% from CNY 113,917,827.90 year-on-year[4] - The company reported a significant decrease in net profit attributable to the parent company, down 341.76% due to a decline in sales volume and increased production costs[10] - The net loss for the current period was ¥267,764,337.88, compared to a net profit of ¥131,682,209.39 in the previous period[20] - The company reported a basic and diluted earnings per share of -0.101, compared to 0.032 in the previous period[20] Cash Flow - The net cash flow from operating activities increased by 311.69% to CNY 916,852,965.06, compared to CNY 222,704,964.47 in the previous year[4] - Operating cash flow for Q1 2023 increased by 311.69% year-on-year, reaching ¥916,852,965.06, primarily due to a decrease in cash paid for goods purchased[11] - Cash outflow from investing activities was ¥56,963,698.36, up from ¥29,975,758.03 in the previous period, indicating increased investment[21] - Cash inflow from financing activities decreased to ¥7,962,881,272.83 from ¥9,298,233,537.92, reflecting a decline of 14.4%[23] - Net cash flow from financing activities was negative at -¥2,099,312,947.21, compared to -¥739,682,476.50 in the previous period, indicating higher outflows[23] Assets and Liabilities - The total assets at the end of the reporting period were CNY 82,071,892,371.00, down 2.64% from CNY 84,301,017,409.62 at the end of the previous year[4] - Total liabilities decreased to ¥58,597,784,636.70 from ¥60,572,763,589.01 at the beginning of the year, a reduction of approximately 3.3%[17] - Cash and cash equivalents decreased from ¥14,000,434,986.08 to ¥11,951,510,447.52 during the reporting period[15] - The ending cash and cash equivalents balance decreased to ¥884,376,122.37 from ¥2,624,717,072.34, a decline of 66.3%[23] Shareholder Information - Total number of ordinary shareholders at the end of the reporting period was 153,383, with the top ten shareholders holding a combined 45.79% of shares[12] - The largest shareholder, Chenming Holding Co., Ltd., holds 15.35% of shares, amounting to 457,322,919 shares[12] Investment Activities - Investment income improved by 36.63%, amounting to CNY -19,449,007.02, compared to CNY -30,691,914.23 in the same period last year[10] - Investment cash flow improved by 31.16% year-on-year, amounting to -¥17,745,698.36, mainly due to an increase in cash received from asset disposals[11] - Cash inflow from investment activities was ¥39,218,000.00, significantly higher than ¥4,197,017.65 in the previous period[21] Cost Management - The company noted that the decline in revenue and profit was influenced by rising raw material costs and lower demand following the Spring Festival[4] - Research and development expenses for the current period were ¥274,275,020.83, down from ¥344,169,278.72, indicating a focus on cost management[19] - Total operating costs for the current period were ¥6,538,140,020.52, down from ¥8,383,571,164.61, reflecting a reduction of 22%[19] Other Financial Metrics - The weighted average return on net assets decreased by 2.17 percentage points to -1.66% from 0.51% in the same period last year[4] - Non-current assets totaled ¥51,147,501,270.38, a decrease from ¥51,581,567,700.86 at the beginning of the year[16] - The company has maintained its capital reserve at ¥5,365,091,677.24, showing stability in equity financing[18] - The company did not conduct an audit for the first quarter report[24]

Group 1: Financial Performance - The company faced challenges in 2022 due to the global pandemic, high energy and logistics costs, and economic downturn, leading to underperformance [3][4] - The company reported that its overall performance was below expectations, primarily due to various external factors [6][8] - The company has not distributed dividends for two consecutive years, focusing instead on optimizing capital structure and reducing debt [4][8] Group 2: Cost Structure - The production cost of the company's paper products is composed of raw materials (57%), energy (14%), chemicals (13%), depreciation (4%), and freight (4%) [5] - The increase in costs for chemical pulp and energy is attributed to rising prices of wood chips and raw coal [4][5] Group 3: Market Conditions - The market demand for the company's main paper products, such as double glue paper and copperplate paper, remains stable, while white cardboard prices have fluctuated due to weak domestic demand [3][4] - The company anticipates that the recovery of the domestic economy will lead to adjustments in product pricing [4] Group 4: Strategic Focus - The company is committed to focusing on its core business of pulp and paper production while gradually divesting non-core assets [4][6] - The management emphasizes improving operational efficiency and financial risk control to drive high-quality development [5][6] Group 5: Research and Development - The company has a comprehensive assessment system for R&D personnel, linking their compensation to established tasks and goals [2][3] - Despite significant R&D expenditures, the number of new patents has been limited, raising investor concerns [2][3]

Financial Performance - The company's operating revenue for 2022 was ¥32,004,367,320.91, a decrease of 3.08% compared to ¥33,019,812,294.14 in 2021[13]. - Net profit attributable to shareholders for 2022 was ¥189,290,120.82, reflecting a significant decline of 90.84% from ¥2,065,513,108.71 in 2021[13]. - The net cash flow from operating activities decreased by 59.80% to ¥3,449,824,242.37 in 2022, down from ¥8,581,888,192.64 in 2021[13]. - Basic and diluted earnings per share for 2022 were both ¥0.03, a drop of 94.64% from ¥0.56 in 2021[13]. - The weighted average return on net assets fell to 0.55% in 2022, a decrease of 9.01 percentage points from 9.56% in 2021[13]. - Total assets at the end of 2022 were ¥84,301,017,409.62, an increase of 1.73% from ¥82,869,661,681.08 at the end of 2021[13]. - The net assets attributable to shareholders decreased slightly by 0.17% to ¥19,084,565,494.92 at the end of 2022 from ¥19,117,985,306.48 at the end of 2021[13]. - The company reported a quarterly operating revenue of ¥6,648,333,425.15 in Q4 2022, with a net profit attributable to shareholders of -¥51,285,739.81[17]. - The company reported a total liability of ¥6,057,276,000 in 2022, slightly up from ¥6,029,463,000 in 2021[20]. - The company achieved a revenue of RMB 32.004 billion and a net profit of RMB 317 million during the reporting period[29]. - The company reported a significant decline in net profit attributable to shareholders for the year 2022, impacted by insufficient domestic market demand and rising costs of raw materials such as wood chips and chemicals[106]. Strategic Initiatives - The company plans not to distribute cash dividends, issue bonus shares, or increase capital from reserves for the year 2022[3]. - The company aims to enhance its core business in pulp and paper production, focusing on green, low-carbon, and sustainable development strategies[91]. - The company plans to strengthen its "pulp-paper integration" strategy to ensure quality and quantity of self-supplied pulp[26]. - The company has strategically expanded its overseas sales, benefiting from a reduction in global paper supply[24]. - The company is focusing on optimizing product structure towards high-end, lightweight, and customized products to meet rising consumer quality demands[90]. - The company plans to enhance its competitive edge through mergers, restructuring, and joint ventures, leading to increased industry concentration[90]. - The company will implement strict financial management to lower the debt-to-asset ratio and optimize capital structure, including collaboration with state-owned banks for low-cost financing[94]. - The company will focus on improving basic management and internal audit processes to enhance operational efficiency and ensure high-quality development[97]. Research and Development - The company has obtained over 380 national patent authorizations, demonstrating its commitment to innovation and R&D[25]. - The company is in the industrialization phase for several R&D projects aimed at improving product quality and reducing costs, including high-thickness electrostatic paper technology[69]. - Research and development (R&D) investment amounted to ¥1.29 billion in 2022, down 11.25% from ¥1.45 billion in 2021, representing 4.03% of operating revenue[71]. - The number of R&D personnel decreased by 27.89% to 1,370 in 2022 from 1,900 in 2021, with a corresponding drop in the proportion of R&D staff[70]. - The company is actively pursuing partnerships with international firms to leverage new technologies and expand its product offerings[159]. Market Conditions - The company faces risks from macroeconomic fluctuations, national policies, regulations, and industry competition, which investors should be aware of[3]. - The paper industry is experiencing a transformation towards intensive development, with increased market concentration and a significant rise in production costs impacting overall profitability[90]. - The company anticipates a recovery in the paper industry as domestic paper prices stabilize and major enterprises announce price increases[90]. - In 2022, the national production of mechanical paper and paperboard was 136.914 million tons, a year-on-year decrease of 1.3%[28]. - The revenue of the paper and paper products industry in China was RMB 1.52289 trillion, a year-on-year increase of 0.4%[28]. Corporate Governance - The company has improved its corporate governance structure in compliance with relevant regulations, enhancing internal controls and information disclosure practices[142]. - The board of directors consists of 11 members, including 4 independent directors, and held 12 meetings during the reporting period, ensuring high decision-making quality[145]. - The supervisory board comprises 5 members and convened 8 meetings, effectively overseeing the company's management and financial status[146]. - The company ensures equal treatment of all shareholders during general meetings, providing both on-site and online voting options[143]. - The company has established a remuneration and assessment committee responsible for setting evaluation standards for non-independent directors and senior management[170]. Environmental and Social Responsibility - The company is committed to green development and has adopted energy-saving and emission-reduction technologies to meet stricter environmental standards[100]. - The company has implemented advanced water recycling technology, achieving a water reuse rate of over 75%, saving 170,000 cubic meters of fresh water daily[100]. - The company donated RMB 805,000 to non-profit organizations during the year, a decrease from RMB 1,142,550 in 2021[109]. - The company is actively exploring innovative resource utilization and circular economy models to enhance its sustainability[100]. Employee and Management Structure - The total number of employees at the end of the reporting period was 10,855, with 2,596 in the parent company and 7,462 in major subsidiaries[180]. - The professional composition includes 7,259 production personnel, 500 sales personnel, 465 technical personnel, 177 financial personnel, 1,203 administrative personnel, and 1,251 other personnel[181]. - The company emphasizes talent development and plans to enhance training quality in 2023 by collaborating with professional training institutions and creating an online learning platform[185]. - The management team includes experienced professionals with backgrounds in finance, marketing, and project management, ensuring a diverse skill set[164]. Financial Management - The company has not utilized any fundraising during the reporting period[85]. - The company has not distributed cash dividends or bonus shares for the current fiscal year, reflecting a conservative approach to capital allocation[187]. - The company plans to optimize its capital structure and reduce debt levels to enhance financial stability and risk resistance[187]. - The company reported a significant increase in financing cash flow net amount by 80.07%, reaching -¥1.98 billion in 2022 compared to -¥9.94 billion in 2021[73][74].

Dividend and Shareholder Matters - The board of directors proposed not to distribute a final dividend for the year 2022, pending approval at the annual general meeting on May 12, 2023[3]. - The company will not issue cash dividends, bonus shares, or convert reserves into share capital for the year 2022[5]. - The company plans to suspend share transfer registration from May 9 to May 12, 2023, to determine the list of H-share shareholders entitled to attend the annual general meeting[3]. - As of December 31, 2022, the company's available reserves for cash distribution and/or physical distribution amounted to RMB 9,857,716,037.54, an increase from RMB 9,760,083,766.83 in 2021[114]. - The company has not proposed any capital reserve transfer to increase share capital for the reporting period[189]. Financial Performance - The company's operating revenue for 2022 was CNY 32,004,367,320.91, a decrease of 3.08% compared to CNY 33,019,812,294.14 in 2021[15]. - Net profit attributable to shareholders for 2022 was CNY 189,290,120.82, reflecting a significant decline of 90.84% from CNY 2,065,513,108.71 in the previous year[15]. - The net cash flow from operating activities decreased by 59.80% to CNY 3,449,824,242.37, down from CNY 8,581,888,192.64 in 2021[15]. - Basic earnings per share dropped to CNY 0.03, a decrease of 94.64% compared to CNY 0.56 in 2021[15]. - The company reported a significant decline in net profit attributable to shareholders compared to the previous year, primarily due to insufficient domestic market demand and rising costs of raw materials such as wood chips and chemicals[108]. Risk Management and Future Outlook - The company faced risks from macroeconomic fluctuations, national policies, regulations, and industry competition, which may impact future development[5]. - The company will continue to monitor and address potential risks in its future development strategies[5]. - The company has indicated uncertainty regarding its ability to continue as a going concern, as reflected in the audit report for the most recent year[16]. - The company anticipates a recovery in industry profitability as domestic paper prices stabilize and major enterprises announce price increases[92]. - The company is focusing on optimizing product structure towards high-end, environmentally friendly, lightweight, and customized products to meet rising consumer quality demands[92]. Operational Efficiency and Production Capacity - The company has an annual pulp and paper production capacity of over 11 million tons, making it the only paper enterprise in China to achieve a balance between pulp and paper production capacity[45]. - The company achieved a production capacity of 11 million tons of pulp and paper annually, benefiting from economies of scale and reducing marginal costs[48]. - The company has established production bases in key markets such as Shandong, Guangdong, Jiangxi, Hubei, and Jilin, significantly reducing transportation costs and improving service efficiency[50]. - The company has implemented a clean production strategy, focusing on energy conservation and emission reduction to build a resource-saving and environmentally friendly enterprise[40]. - The company is committed to improving basic management and operational efficiency, focusing on team building and employee training to enhance human capital management[99]. Research and Development - The company has obtained over 380 national patent authorizations, enhancing its research and development capabilities[27]. - The company has developed over 200 varieties of paper products, covering seven series, and holds a leading market share in several categories[32]. - The company is in the industrialization phase for several R&D projects, including high-strength journal paper technology, which aims to enhance product quality and market share[71]. - R&D investment amounted to CNY 1,290,281,540.10 in 2022, a decrease of 11.25% from CNY 1,453,766,371.46 in 2021, representing 4.03% of operating revenue[73]. - The number of R&D personnel decreased by 27.89% to 1,370 in 2022 from 1,900 in 2021, with the proportion of R&D personnel in total workforce dropping to 12.62%[72]. Corporate Governance - The company has a strong governance structure with a supervisory board chaired by Li Kang, who has been with the company since 2001 and oversees the inspection department[164]. - The board of directors consists of 11 members, including 4 independent directors, ensuring high-quality decision-making; the board held 12 meetings during the reporting period[147]. - The company ensures equal treatment of all shareholders during general meetings, providing both on-site and online voting options, and guarantees that minority shareholders' votes are counted separately[145]. - The company has confirmed the independence of its independent non-executive directors as per the Hong Kong Listing Rules[120]. - The company has established a remuneration and assessment committee responsible for setting evaluation standards for non-independent directors and senior management[172]. Environmental and Social Responsibility - The company is committed to green development, improving resource utilization efficiency and pollution prevention[28]. - The company has invested over RMB 8 billion in environmental protection initiatives, implementing advanced pollution control systems and achieving leading environmental indicators[54]. - The company is actively exploring resource recycling and circular economy models to enhance environmental sustainability[102]. - The management team emphasized a commitment to sustainability, aiming for a 40% reduction in carbon emissions by 2025[163]. - The company donated RMB 805,000 to non-profit organizations during the year, compared to RMB 1,142,550 in 2021[111]. Market and Competitive Position - The company has significantly increased its overseas market sales, further optimizing its global sales network[45]. - The company is positioned to benefit from new opportunities in overseas markets as international supply of paper products decreases[92]. - The company plans to enhance its competitive edge through mergers, acquisitions, and joint ventures, further increasing industry concentration[92]. - The company has been recognized as one of the "Top 500 Most Valuable Brands in China" in 2022, showcasing its strong brand value[32]. - The company is focused on becoming a leading player in the paper industry, aiming to build a billion-dollar enterprise and enhance its global competitiveness[93].

证券代码：000488 200488 证券简称：晨鸣纸业 晨鸣 B 公告编号：2023-027 山东晨鸣纸业集团股份有限公司 （二）投资者可于 2023 年 4 月 7 日（星期五）12:00 前访问（https://ir.p5w.net/zj）进 入问题征集专题页面进行提问。公司将会于业绩说明会上对投资者普遍关注的问题进行回 答。 关于举行 2022 年度网上业绩说明会的公告 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。 重要内容提示： 一、业绩说明会类型 业绩说明会通过网络互动、文字问答方式召开，公司将针对 2022 年年度业绩和经营情 况与投资者进行交流。 二、业绩说明会召开的时间、地点 三、参会人员 公司董事长兼总经理陈洪国先生、独立非执行董事孙剑非先生、财务总监董连明先生 以及董事会秘书袁西坤先生。 四、投资者参加方式 （一）投资者可于 2023 年 4 月 10 日 15:00-16:00 登陆"全景网·投资者关系互动平台" （http://ir.p5w.net）参与业绩说明会，公司将通过该平台及时回答投资者的提问。 会议召开时间：2023 年 ...