Stock code: 000488, 200488 Stock abbreviation: Chenming Paper Chenming B Announcement No.:2022-014
2021Annual Report Summary of
Shandong Chenming Paper Holdings Limited
I. IMPORTANT NOTICE
This annual report summary is extracted from the text of the annual report. For the full understanding of the operating results,
financial position and plan for further development, investors should carefully read the text of the annual report published on the
media as designated by the CSRC.
All directors have attended the board meeting to review this annual report in person.
Notice of non-standard auditor’s opinion
□Applicable √ Not applicable
Aproposed profit distribution plan on ordinary shares or a proposed plan on conversion of capital reserves into share capital for the
reporting period was considered and passed by the Board
□Applicable √ Not applicable
The Company proposes not to distribute cash dividend, issue bonus share, or capitalise from capital reserves
Aproposed profit distribution plan on preference shares for the reporting period was considered and approved by the Board
□Applicable √ Not applicable
II. BASIC INFORMATION ABOUT THE COMPANY
1. Company profile
晨鸣纸业 000488
Stock abbreviation 晨鸣 B Stock code
200488
Stock exchange on which Shenzhen Stock Exchange
the shares are listed
Stock abbreviation CHENMING PAPER Stock code 01812
Stock exchange on which The Stock Exchange of Hong Kong Limited
the shares are listed
Contact persons and Secretary to the Board Hong Kong Company Secretary
contact methods
Name Yuan Xikun Chu Hon Leung
Correspondence address No. 2199 East Nongsheng Road, Shouguang City, 22nd Floor, World Wide House, Central, Hong
Shandong Province Kong
Facsimile 0536-2158977 00852-25010028
Telephone 0536-2158008 00852-21629600
Email address chenmmingpaper@163.com liamchu@li-partners.com
2. Overview of principle activities or products during the reporting period
The Company is a large modern conglomerate principally engaged in pulp production and paper making. Its key indicators in
respect of business and economic efficiency have been in a leading position in the industry in China for over 20 consecutive years.
The Company has been on the Fortune 500 China list for 12 years. During the reporting period, the machine-made paper business is
the major source of revenue and profit of the Company, and there was no significant change in the principal activities of the
Company.
1. Business overview
Taking “revitalising the Chinese papermaking industry” as its mission, the Company has been adhering to the general keynote
of green, low-carbon, recycling and sustainable development, and committing itself to implementing a pulp and paper integration
strategy. At present, the Company has 6 production bases in Shandong, Guangdong, Hubei, Jiangxi, Jilin and other places, with
annual pulp and paper production capacity of more than 11 million tonnes. It is one of the domestic paper making enterprises that
achieves a balance between paper making and pulp production capacity.
During the reporting period, in the face of the complex domestic and international market economic environment and various
challenges against the backdrop of normalisation of epidemic prevention and control, all cadres and employees of the Company
pulled together to address the difficulties, improve efficiency, reduce costs, ensure the steady progress of the Company‘s production
and operation, and continuously improve the operating quality and profitability of the Company. In 2021, the Company completed
the production of machine-made paper of 5.50 million tonnes and achieved sales of 5.45 million tonnes, representing a year-on-year
decrease of 4.74% and 2.73%, respectively. The Company realised revenue of RMB33,020 million, representing a year-on-year
increase of 7.43%. Total profit and net profit attributable to equity holders of the Company were RMB2,306 million and RMB2,066
million respectively, up by 6.16% and 20.65% year on year.
2. Products
As a leading player in the papermaking industry of China, the Company adopts the market-oriented approach, attaches great
importance to technology research and development and brand benefits, and boasts the largest and most advanced pulping and
papermaking production lines in the world, with machine-made paper products covering more than 200 types in seven series,
including cultural paper, coated paper, white cardboard, copy p
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