Core Viewpoint - Shandong Chenming Paper Holdings Limited plans to divest all financing leasing business assets to focus on its core pulp and paper production strategy, aiming for high-quality development [1][5]. Group 1: Business Divestiture Details - The company will transfer 100% equity of Shandong Chenming Leasing Co., Ltd., 25% equity of Qingdao Chenming Leasing Co., Ltd., and 25% equity of Shanghai Chenming Leasing Co., Ltd., along with a debt claim of RMB 2.263 billion to Shouguang City Shengjia Investment Co., Ltd. for a total consideration of RMB 3.336 billion [2]. - The transaction includes an equity transfer price of RMB 1.073 billion and a debt transfer price of RMB 2.263 billion, after which the leasing companies will no longer be included in Chenming Paper's consolidated financial statements [2]. Group 2: Financial Performance and Challenges - Chenming Paper has maintained leading economic performance in the industry for over 20 years, but has faced declining demand in the paper market, leading to a cyclical low [3]. - The company reported a net loss of RMB 7.411 billion for the year 2024, attributed to significant price drops in paper products and tightening liquidity due to reduced bank loan availability [4][3]. Group 3: Reasons for Divestiture - The divestiture is driven by substantial losses in the financing leasing business, with the three leasing companies reporting cumulative losses exceeding RMB 4.5 billion in the first three quarters of 2025 [5]. - The company aims to optimize its asset-liability structure and concentrate resources on its core business to enhance profitability and core competitiveness, thereby promoting sustainable high-quality development [5]. Group 4: Strategic Shift - Historically, the company expanded into financial sectors such as futures and financing leasing, but is now strategically refocusing on its core business due to changing industry conditions [6]. - The company previously announced plans to dissolve its financial company, indicating that this move would positively impact its main business development and profitability [6]. Group 5: Future Outlook - Industry insiders believe that shedding these non-core businesses will allow Chenming Paper to operate more efficiently and regain momentum in its primary market [7].

Group 1: Medical Isotope Production - China National Nuclear Corporation (CNNC) has successfully developed a complete technology chain for the irradiation preparation of iodine-131, enhancing the self-sufficiency of medical isotopes in China [1] - The technology includes the preparation of precursor isotopes, reactor irradiation, and nuclear drug development, forming an environmentally friendly and autonomous industrial chain [1] - The successful production of high-purity tellurium-130 isotopes with over 99% abundance fills a gap in the domestic large-scale preparation of high-purity enriched tellurium isotopes [1] Group 2: Radiation Therapy Equipment and Drug Development - As of 2024, over 90 radiotherapy devices have been approved by the National Medical Products Administration, with more than 70% being domestic brands, significantly reducing reliance on imported equipment [2] - The development of new radiopharmaceuticals has accelerated, with over 200 pipelines entering clinical trials, introducing new isotopes like lutetium-177 and yttrium-90 for more precise cancer treatment options [2] Group 3: Corporate Transactions and Financial Updates - WuXi AppTec has completed the sale of its subsidiary, expecting a post-tax net profit of approximately 960 million yuan, which accounts for over 10% of the company's latest audited net profit attributable to shareholders [5][6] - Guolian Minsheng has terminated a 480 million yuan fund establishment transaction, with no adverse effects on the company's finances or shareholder rights [7] - Morning Paper Industry plans to sell all shares of a target company for 3.336 billion yuan [10] Group 4: New Technologies and Innovations - GAC Group's flying car, GOVY AirCab, has entered the airworthiness certification stage and is expected to be mass-produced by 2026, aiming to create a new mode of transportation that integrates air and ground travel [17] - China Tongyuan has signed a commercial cooperation agreement with Novartis for the radiopharmaceutical product, providing a new treatment option for advanced prostate cancer patients [18]

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） 出席二零二五年第二次臨時股東會之委任表格 本人╱吾等 （附註1） ： 地址為： 為山東晨鳴紙業集團股份有限公司（「本公司」）股本中 （附註2） 股每股面值人民幣1.00元 A/B/H股 （附註3） 的註冊持有人，現委任大會主席或 （附註4） 地址為 為本人 ╱ 吾等之代理人，代表本人 ╱ 吾等出席二零二五年十二月三十一日（星期三）下午二時正假座中華人民共和 國（「中國」）山東省壽光市農聖東街2199號公司研發中心會議室舉行的本公司二零二五年第二次臨時股東會（「臨時股 東會」）或其任何續會，並於會上代表本人╱吾等及以本人╱吾等名義，依照下列指示就以下所列決議案及於臨時股 東會上須處理的其他事項進行表決。 | | | 日期：二零二五年 月 日 簽署 （附註6及7） : 附註： * 僅供識別 1. 請於空格內用正楷填上全名及地址。 2. 請於空格內填上與本代理人委任表格有關之本公司股份（「股份」）數目，並刪去不適用者。如填上數目，此代理 ...

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。 1. 關於剝離融資租賃業務相關資產的議案。 承董事會命 山東晨鳴紙業集團股份有限公司 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） 二零二五年第二次臨時股東會通告 玆通告山東晨鳴紙業集團股份有限公司（「本公司」）謹訂於二零二五年十二月三 十一日（星期三）下午二時正假座中華人民共和國（「中國」）山東省壽光市農聖東街2199 號公司研發中心會議室舉行二零二五年第二次臨時股東會（「臨時股東會」），藉以通過 以下決議案： 普通決議案 姜言山 – 1 – 主席 附註： 中國，山東 中國山東省壽光市聖城街595號 郵政編號：262700 電話：(86)-536-2158008 傳真號碼：(86)-536-2158977 二零二五年十二月十五日 於本公告日期，執行董事為姜言山先生、李偉 ...

根据股权及贷款转让协议，(1)香港晨鸣已同意出售，而买方已同意收购目标公司1山东晨鸣融资租赁有 限公司之100%股权、目标公司2青岛晨鸣纸制品销售有限公司之25%股权及目标公司3上海晨鸣融资租 赁有限公司之25%股权；及(2)湛江晨鸣纸品已同意出售，而买方已同意收购目标公司1应付湛江晨鸣纸 品之贷款，账面值为人民币2,262.96百万元，即湛江晨鸣纸品于股权及贷款转让协议日期前为支持目标 公司1日常营运而向目标公司1提供之资金。 于本公告日期，(i)目标公司1由香港晨鸣全资拥有；目标公司2由目标公司1及香港晨鸣分别拥有75%及 25%；及(iii)目标公司3由目标公司2及香港晨鸣分别拥有75%及25%。 出售事项完成后，公司将不再拥有目标集团任何权益。目标集团公司将不再为公司附属公司，且目标集 团的财务业绩将不再并入集团综合财务报表。 为聚焦核心职责及主营业务，公司拟透过出售目标公司股权及贷款，剥离所有于其融资租赁业务有关的 资产。出售事项符合公司整体发展策略，并将改善资产负债架构，盘活现有资产及使公司集中资源发展 主业。此举将进一步提高公司盈利能力及提升核心竞争力，从而推动高质量可持续发展。买方(一间由 寿 ...

晨鸣纸业(01812)发布公告，于2025年12月15日，湛江晨鸣纸品有限公司(湛江晨鸣纸品，作为目标贷款 的卖方)、香港晨鸣(作为目标股权的卖方)及买方寿光市晟嘉投资有限公司(作为买方)订立股权及贷款转 让协议，据此，本公司与香港晨鸣同意出售，而买方同意收购目标股权及目标贷款，总代价为人民币 33.36亿元。 根据股权及贷款转让协议，香港晨鸣已同意出售，而买方已同意收购目标公司1山东晨鸣融资租赁有限 公司的100%股权、目标公司2青岛晨鸣纸制品销售有限公司的25%股权及目标公司3上海晨鸣融资租赁 有限公司的25%股权;及湛江晨鸣纸品已同意出售，而买方已同意收购目标公司1应付湛江晨鸣纸品的贷 款，账面值为人民币22.63亿元，即湛江晨鸣纸品于股权及贷款转让协议日期前为支持目标公司1日常营 运而向目标公司1提供的资金。 为聚焦核心职责及主营业务，本公司拟透过出售目标公司股权及贷款，剥离所有于其融资租赁业务有关 的资产。出售事项符合本公司整体发展策略，并将改善资产负债架构，盘活现有资产及使本公司集中资 源发展主业。此举将进一步提高本公司盈利能力及提升核心竞争力，从而推动高质量可持续发展。买方 (一间由寿光市财政局 ...

为聚焦核心职责及主营业务，本公司拟透过出售目标公司股权及贷款，剥离所有于其融资租赁业务有关 的资产。出售事项符合本公司整体发展策略，并将改善资产负债架构，盘活现有资产及使本公司集中资 源发展主业。此举将进一步提高本公司盈利能力及提升核心竞争力，从而推动高质量可持续发展。买方 (一间由寿光市财政局成立的全资国有企业)具备良好信誉及强大履约能力。 出售事项完成后，本集团日常业务运营在完成前后将基本保持不变。本集团将继续专注于生产及销售纸 制品的主要业务。目前，本集团五个生产基地中有四个已经復产。董事预计在出售事项完成后，本集团 业务及经营规模将不会出现重大变动，且出售事项将不会对本集团业务及运营产生重大影响。 智通财经APP讯，晨鸣纸业(01812)发布公告，于2025年12月15日，湛江晨鸣纸品有限公司(湛江晨鸣纸 品，作为目标贷款的卖方)、香港晨鸣(作为目标股权的卖方)及买方寿光市晟嘉投资有限公司(作为买方) 订立股权及贷款转让协议，据此，本公司与香港晨鸣同意出售，而买方同意收购目标股权及目标贷款， 总代价为人民币33.36亿元。 根据股权及贷款转让协议，香港晨鸣已同意出售，而买方已同意收购目标公司1山东晨鸣 ...

Core Viewpoint - The company, Chenming Paper Holdings (01812.HK), has entered into an agreement to sell equity and loans related to its financing leasing business, aiming to focus on its core operations and improve its financial structure [1][2]. Group 1: Transaction Details - The total consideration for the sale of equity and loans is RMB 333,635.30 million [1]. - The agreement involves the sale of 100% equity of Shandong Chenming Financing Leasing Co., Ltd., 25% equity of Qingdao Chenming Paper Products Sales Co., Ltd., and 25% equity of Shanghai Chenming Financing Leasing Co., Ltd. [1]. - The loan being sold has a book value of RMB 2,262.96 million, which was provided to support the daily operations of the target company [1]. Group 2: Strategic Implications - Following the completion of the sale, the company will no longer hold any interests in the target group, and the financial performance of the target group will not be included in the consolidated financial statements [2]. - The sale aligns with the company's overall development strategy, aiming to enhance asset-liability structure, revitalize existing assets, and concentrate resources on core business [2]. - The transaction is expected to improve the company's profitability and enhance its core competitiveness, promoting sustainable high-quality development [2]. Group 3: Operational Impact - The company’s daily business operations are expected to remain largely unchanged before and after the completion of the sale [2]. - The company will continue to focus on the production and sales of paper products, with four out of five production bases already resumed operations [2]. - The board anticipates that the sale will not result in significant changes to the company's business and operational scale [2].

12月15日晚间，晨鸣纸业在港交所公告，于2025年12月15日（于交易时段后），湛江晨鸣纸品（作为目 标贷款之卖方）、香港晨鸣（作为目标股权之卖方）及寿光市晟嘉投资有限公司（作为买方）订立股权 及贷款转让协议，据此，公司与香港晨鸣同意出售，而买方同意收购目标股权及目标贷款，总代价为人 民币333,635.30万元。出售事项完成后，公司将不再拥有目标集团任何权益。公司拟透过出售目标公司 股权及贷款，剥离所有于其融资租赁业务有关的资产。出售事项完成后，集团日常业务运营在完成前后 将基本保持不变。集团将继续专注于生产及销售纸制品的主要业务。 ...

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） 有關出售目標公司全部股權之非常重大出售事項 出售事項 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之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不會就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。 董事會欣然宣佈，於二零二五年十二月十五日（於交易時段後），湛江晨鳴紙品 （作為目標貸款之賣方）、香港晨鳴（作為目標股權之賣方）及買方（作為買方）訂 立股權及貸款轉讓協議，據此，本公司與香港晨鳴同意出售，而買方同意收購 目標股權及目標貸款，總代價為人民幣333,635.30萬元。 於本公告日期，(i)目標公司1由香港晨鳴全資擁有；目標公司2由目標公司1及香 港晨鳴分別擁有75%及25%；及(iii)目標公司3由目標公司2及香港晨鳴分別擁有 75%及25%。 出售事項完成後，本公司將不再擁有目標集團任何權益。目標集團公司將不再 為本公司附屬公司，且目標集團的財務業績將不再併入本 ...