Section I Important Notice, Contents and Definitions
The Board of Directors and the Board of Supervisors of the Company and its directors,
supervisorsandseniormanagementwarrantthattheinformation containedinthissemi-annual
report is true, accurate and complete without any false and misleading statements or material
omissions, and severally and jointly accept legal liability thereof.
Liu Peng, the person in charge of the Company, Dong Ye, the person in charge of accounting of
the Company, and Xu Xianjing, the person in charge of the accounting department of the
Company, have declared that they warrant the truthfulness, accuracy and completeness of the
financial statements set out in this semi-annual report.
All directors of the Company attended the Board meeting on which this report was reviewed.
Discrepancies in the sum of decimals in this report are caused by rounding.
The forward-looking statements in this report, including future plans and development
strategies, do not constitute substantive commitments of the Company to investors. Investors
should be aware of the investment risks.
The Company has described potential risk factors and countermeasures that may exist in its
operations in detail in Section III Discussion and Analysis of the Management and Section X
Risks Faced by the Company and Countermeasures. Investors are advised to pay attention to
the relevant contents.
The Company plans not to distribute cash dividend, issue bonus share, or transfer capital
reserve into share capital.
Contents
Section I Important Notice, Contents and Definitions ...... 2
Section II Company Profile and Key Financial Indicators...... 6
Section III Discussion and Analysis of the Management ...... 9
Section IV Corporate Governance...... 27
Section V Environmental and Social Responsibilities...... 30
Section VI Significant Events ...... 36
Section VII Changes in Shareholding and Information of Shareholders...... 46
Section VIII Particulars of Preference Shares...... 55
Section IX Corporate Bonds...... 56
Section X Financial Report...... 57
Documents Available for Inspection
1. The Semi-annual Report 2023 affixed with the signature of the Company’s legal representative.
2. Financial statements affixed with the signatures and stamps of the legal representative of the
Company, person in charge of accounting, and person in charge of accounting department of the
Company.
3. All original copies of the Company’s documents and the original drafts of the Company’s
announcements as disclosed during the reporting period.
4. Place for document inspection: Office of the Board of Directors.
Terms and Definitions
Term Definition
The Company, Company, C&S C&S Paper Co., Ltd.
Zhongshun Group Guangdong Zhongshun Paper Group Co., Ltd.
Chung Shun Co. Chung Shun Co., a Hong Kong-based company
Zhongshan Trading Zhongshan Zhongshun Trading Co., Ltd.
Zhong Shun International Zhong Shun International Co., Ltd., a Hong Kong-based company
C&S Hong Kong C&S Hong Kong Co., Ltd., a Hong Kong-based company
Macao C&S C&S (Macao) Co., Ltd.
Beijing Trading Beijing C&S Paper Co., Ltd.
Xiaogan Trading Xiaogan C&S Trading Co., Ltd.
Chengdu Trading Chengdu Zhongshun Paper Co., Ltd.
Hangzhou Trading Hangzhou Jie Rou Trading Co., Ltd.
Shanghai Trading Shanghai Huicong Paper Co., Ltd.
Yunfu Trading Yunfu Hengtai Trading Co., Ltd., formerly known as C&S (Yunfu)
Trading Co., Ltd.
Sichuan C&S C&S (Sichuan) Paper Co., Ltd., formerly known as Chengdu Tiantian
Paper Co., Ltd.
Jiangmen C&S Jiangmen Zhongshun Paper Co., Ltd.
Zhejiang C&S Zhejiang Zhongshun Paper Co., Ltd.
Hubei C&S C&S (Hubei) Paper Co., Ltd., formerly known as Hubei Zhongshun
Hongchang Paper Co., Ltd.
Yunfu C&S C&S (Yunfu) Paper Co., Ltd.
Tangshan C&S, Tangshan C&S Paper Co., Ltd. Tangshan Branch
subsidiary
Dazhou C&S C&S (Dazhou) Paper Co., Ltd.
Jiangsu C&S C&S (Jiangsu) Paper Co., Ltd.
Zhongshan Paper C&S (Zhongshan) Paper Co., Ltd., formerly known as Zhongshan Tongfu
Trade Co., Ltd.
Sun C&S Sun Daily Necessities Co., Ltd.
Dolemi Dolemi Sanitary Products Co., Ltd.
Zhengzhou Dolemi Zhengzhou Dolemi Sanitary Products Co., Ltd.
Xi’an Dolemi Xi’an Dolemi Sanitary Products Co., Ltd.
Bloomage Jierou Beijing Bloomage Jierou Biotechnology Co., Ltd.
Zhongshun Health Zhongshun Health Life Tec
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