StockCode：000488200488Stockabbreviation：STChenmingSTChenmingBAnnouncementNumber：2025-072SHANDONGCHENMINGPAPERHOLDINGSLIMITED
2025ThirdQuarterlyReport
TheCompanyandallmembersoftheBoardofDirectorsensurethatthecontentsoftheinformationdisclosurearetrue,accurateandcomplete,andthereisnofalserecord,statementormaterialomission.
IMPORTANTNOTICE:
1.TheBoard,thedirectors(the“Directors”),andseniormanagement(the“SeniorManagement”)herebywarrantthetruthfulness,accuracyandcompletenessofthisquarterlyreportwhichdoesnotcontainanyfalserepresentation,misleadingstatementormaterialomission,andarejointlyandseverallyresponsiblefortheliabilitiesoftheCompany.
2.TheheadoftheCompany,theheadinchargeofaccounting,andtheheadoftheaccountingdepartment(AccountingOfficer),declarethattheywarrantthetruthfulness,accuracyandcompletenessofthefinancialinformationinthisquarterlyreport.
3.Hasthethirdquarterlyreportalreadybeenauditedyet?
□Yes?No
I.KEYFINANCIALDATA(I)MajoraccountingdataandfinancialindicatorsRetrospectiveadjustmenttoorrestatementoftheaccountingdataforprioryearsbytheCompany
□Yes?No
(II)Itemsandamountsofextraordinarygainsorlosses?Applicable□Notapplicable
Unit:RMB
| Item | Amountforthereportingperiod | Amountfortheperiodfromthebeginningoftheyeartotheendofthereportingperiod | Explanation |
| Profitorlossfromdisposalofnon-currentassets(includingwrite-offofassetimpairmentprovision) | -5,500,166.25 | -102,550,045.01 | |
| Governmentgrants(exceptforthegovernmentgrantscloselyrelatedtotheordinarycourseofbusinessoftheCompany,grantedinaccordancewithan | 13,939,913.30 | 39,443,281.03 |
Thereporting
period
| Thereportingperiod | Increase/decreasecomparedtothecorrespondingperiodoftheprioryear | Theperiodfromthebeginningoftheyeartotheendofthereportingperiod | Increase/decreasefortheperiodfromthebeginningoftheyeartotheendofthereportingperiodascomparedtothecorrespondingperiodoftheprioryear | |
| Revenue(RMB) | 1,241,229,778.93 | -79.10% | 3,347,860,731.23 | -83.11% |
| NetprofitattributabletoshareholdersoftheCompany(RMB) | -2,149,863,362.61 | -191.02% | -6,007,816,553.17 | -746.05% |
| NetprofitafterextraordinarygainsorlossesattributabletoshareholdersoftheCompany(RMB) | -2,164,751,046.01 | -169.22% | -5,810,114,661.82 | -440.51% |
| Netcashflowsfromoperatingactivities(RMB) | — | — | 702,589,282.04 | -70.53% |
| Basicearningspershare(RMBpershare) | -0.74 | -193.65% | -2.05 | -747.11% |
| Dilutedearningspershare(RMBpershare) | -0.74 | -193.65% | -2.05 | -747.11% |
| Weightedaveragereturnonnetassets | -43.90% | Decreaseof39.37percentagepoints | -97.29% | Decreaseof92.93percentagepoints |
| Asattheendofthereportingperiod | Asattheendoftheprioryear | Increase/decreaseasattheendofthereportingperiodcomparedtotheendoftheprioryear | ||
| Totalassets(RMB) | 52,854,974,409.43 | 63,509,295,142.08 | -16.78% | |
| Owners’equityattributabletoshareholdersoftheCompany(RMB) | 3,196,889,425.38 | 9,156,104,358.91 | -65.08% | |
| establishedstandardandhavinganongoingeffectontheCompany’sprofitorlossincompliancewithnationalpoliciesandregulations)accountedforinprofitorlossforthecurrentperiod | |||
| ExceptforeffectivehedgingbusinessconductedintheordinarycourseofbusinessoftheCompany,gainorlossarisingfromthechangeinfairvalueoffinancialassetsandfinancialliabilitiesheldbyanon-financialcompany,aswellasgainorlossarisingfromdisposalofitsfinancialassetsandfinancialliabilities | 6,132,064.70 | 14,571,636.58 | |
| Reversalofprovisionforimpairmentofreceivablesindividuallytestedforimpairment | 1,608,754.89 | 14,810,251.65 | |
| Profitorlossfromdebtrestructuring | 1,170,000.00 | -36,001,293.24 | |
| Profitorlossfromchangesinthefairvalueofconsumablebiologicalassetssubsequentlymeasuredatfairvalue | - | -129,059,190.34 | |
| Othernon-operatingincomeandexpensesotherthantheaboveitems | -1,037,532.27 | -19,225,564.05 | |
| Less:Effectofincometax | 1,034,392.81 | 3,983,072.97 | |
| Effectofminorityinterests(aftertax) | 390,958.16 | -24,292,105.00 | |
| Total | 14,887,683.40 | -197,701,891.35 | -- |
Detailsofothergainorlossitemsthatfallwithinthedefinitionofextraordinarygainorloss:
□Applicable?NotapplicableTheCompanydidnothavedetailsofothergainorlossitemsthatfallwithinthedefinitionofextraordinarygainorloss.ExplanationontheextraordinarygainorlossitemsasillustratedintheExplanatoryAnnouncementonInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublicNo.1–ExtraordinaryGainsorLossesdefinedasitsrecurringgainorlossitems?Applicable□Notapplicable
| Item | Amountinvolved(RMB) | Reason |
| Otherincome | 40,610,658.99 | GovernmentgrantsrelatedtoassetsthatarecloselyrelatedtotheCompany’snormaloperationsaresubsequentlyamortisedtootherincome,whichhasacontinuingeffectontheCompany’sprofitorlossandisthereforeaccountedforasrecurringprofitorloss. |
(III)Detailsandreasonsforchangesinmajoraccountingfiguresandfinancialindicators?Applicable□Notapplicable
1.AnalysisofassetsandliabilitiesoftheCompany
Unit:RMB
| Item | 30September2025 | 31December2024 | Change | Reasonforchange |
| Monetaryfunds | 731,639,703.39 | 5,909,879,812.18 | -87.62% | (1) |
| Billsreceivable | 851,752,915.38 | 506,605,701.74 | 68.13% | (2) |
| Othercurrentassets | 246,581,588.87 | 559,911,202.83 | -55.96% | (3) |
| Othernon-currentfinancialassets | 344,055,571.63 | 751,030,454.68 | -54.19% | (4) |
| Billspayable | 53,732,813.94 | 1,423,918,112.99 | -96.23% | (5) |
| Contractliabilities | 485,144,692.32 | 274,829,824.35 | 76.53% | (6) |
| Interestpayable | 345,615,272.60 | 63,042,283.31 | 448.23% | (7) |
| Non-currentliabilitiesduewithinoneyear | 2,964,214,743.99 | 1,577,936,964.14 | 87.85% | (8) |
| Othercurrentliabilities | 369,024,362.07 | 2,680,562,600.58 | -86.23% | (9) |
| Long-termpayables | 2,656,766,474.21 | 774,965,008.29 | 242.82% | (10) |
Explanationofthereasonsleadingtothemajorchanges:
(1)Monetaryfundsdecreasedby87.62%ascomparedtothebeginningoftheyear,mainlyduetoadecreaseinguaranteedepositsmaintainedbytheCompanyasattheendofthereportingperiod.
(2)Billsreceivableincreasedby68.13%ascomparedtothebeginningoftheyear,mainlyduetoanincreaseinbillsthathadbeenendorsedanddiscountedbuthadnotyetmaturedandcouldnotbederecognisedasattheendofthereportingperiod.
(3)Othercurrentassetsdecreasedby55.96%ascomparedtothebeginningoftheyear,mainlyduetoadecreaseinprepaidexpensesduringthereportingperiod.
(4)Othernon-currentfinancialassetsdecreasedby54.19%ascomparedtothebeginningoftheyear,mainlyduetoWeifangChenchuangEquityInvestmentFundPartnership(LimitedPartnership)beingincludedintheconsolidatedfinancialstatementsduringthereportingperiod.
(5)Billspayabledecreasedby96.23%ascomparedtothebeginningoftheyear,mainlyduetooverduebillsbeingreclassifiedtoaccountspayableandshort-termborrowingsasattheendofthereportingperiod.
(6)Contractliabilitiesincreasedby76.53%ascomparedtothebeginningoftheyear,mainlyduetoanincreaseinadvancereceiptsasattheendofthereportingperiod.
(7)Interestpayableincreasedby448.23%ascomparedtothebeginningoftheyear,mainlyduetoanincreaseinoverdueinterestasattheendofthereportingperiod.
(8)Non-currentliabilitiesduewithinoneyearincreasedby87.85%ascomparedtothebeginningoftheyear,mainlyduetoanincreaseinreclassifiedlong-termliabilitiesduewithinoneyearasattheendofthereportingperiod.
(9)Othercurrentliabilitiesdecreasedby86.23%ascomparedtothebeginningoftheyear,mainlyduetosomeextendedequipmentfinanceleasesbeingreclassifiedtolong-termpayablesasattheendofthereportingperiod.
(10)Long-termpayablesincreasedby242.82%ascomparedtothebeginningoftheyear,mainlyduetosomeextendedequipmentfinanceleasesbeingreclassifiedtolong-termpayablesasattheendofthereportingperiod.
2.Reasonsforsignificantyear-on-yearchangesofincomestatementitemsduringthereportingperiod
Unit:RMB
| Item | January–September2025 | January–September2024 | Change | Reasonforchange |
| Revenue | 3,347,860,731.23 | 19,824,745,808.47 | -83.11% | (1) |
| Operatingcosts | 5,432,612,403.50 | 18,076,967,929.54 | -69.95% | (2) |
| Salesanddistributionexpenses | 74,655,486.97 | 147,210,064.88 | -49.29% | (3) |
| Researchanddevelopmentexpenses | 55,005,532.38 | 901,808,557.06 | -93.90% | (4) |
| Otherincome | 54,812,362.26 | 238,472,943.40 | -77.02% | (5) |
| Investmentincome | -715,405,073.98 | 194,417,150.47 | -467.97% | (6) |
| Gainonchangeinfairvalue | -123,350,217.95 | 1,638,333.26 | -7629.01% | (7) |
| Creditimpairmentloss | -1,341,707,401.59 | -210,922,415.23 | 536.11% | (8) |
| Lossonimpairmentofassets | -440,561,409.32 | -3,041,427.75 | 14385.35% | (9) |
| Incometaxexpenses | -112,807,869.23 | -267,218,588.36 | 57.78% | (10) |
Explanationofthereasonsleadingtothemajorchanges:
(1)Revenuedecreasedby83.11%ascomparedtothecorrespondingperiodoftheprioryear,mainlyduetoadecreaseinsalesofmachine-madepaperwithayear-on-yeardecreaseinrevenueresultingfromsomeproductionbasesinshutdownandmaintenanceduringthereportingperiod.
(2)Operatingcostsdecreasedby69.95%ascomparedtothecorrespondingperiodoftheprioryear,mainlyduetoadecreaseinsalesofmachine-madepaperwithayear-on-yeardecreaseinoperatingcostsresultingfromsomeproductionbasesinshutdownandmaintenanceduringthereportingperiod.
(3)Salesanddistributionexpensesdecreasedby49.29%ascomparedtothecorrespondingperiodoftheprioryear,mainlyduetoadecreaseinsalesofmachine-madepaperwithayear-on-yeardecreaseinwagesandexpensesresultingfromsomeproductionbasesinshutdownandmaintenanceduringthereportingperiod.
(4)Researchanddevelopmentexpensesdecreasedby93.90%ascomparedtothecorrespondingperiodoftheprioryear,mainlyduetoadecreaseinresearchanddevelopmentexpenseresultingfromsomeproductionbasesinshutdownandmaintenanceduringthereportingperiod.
(5)Otherincomedecreasedby77.02%ascomparedtothecorrespondingperiodoftheprioryear,mainlyduetoadecreaseinprocurementofrawmaterialswithayear-on-yeardecreaseinadditionaldeductionofvalue-addedinputtaxresultingfromsomeproductionbasesinshutdownandmaintenanceduringthereportingperiod.
(6)Investmentincomedecreasedby467.97%ascomparedtothecorrespondingperiodoftheprioryear,mainlyduetoayear-on-yeardecreaseininvestmentincomerecognisedfrominvesteesandinvestmentincomefromequitydisposalduringthereportingperiod.
(7)Gainonchangeinfairvaluedecreasedby7,629.01%ascomparedtothecorrespondingperiodoftheprioryear,mainlyduetoayear-on-yearincreaseinlossesfromchangesinthefairvalueofforestryassetsduringthereportingperiod.
(8)Creditimpairmentlossincreasedby536.11%ascomparedtothecorrespondingperiodoftheprioryear,mainlyduetoayear-on-yearincreaseintheprovisionforbaddebtsonreceivablesduringthereportingperiod.
(9)Lossonimpairmentofassetsincreasedby14,385.35%ascomparedtothecorrespondingperiodoftheprioryear,mainlyduetoayear-on-yearincreaseintheprovisionforimpairmentofequipmentduringthereportingperiod.
(10)Incometaxexpensesincreasedby57.78%ascomparedtothecorrespondingperiodoftheprioryear,mainlyduetocertaincompanies’reversalofdeferredtaxassetsarisingfrompreviouslyrecogniseddeductiblelossesanddeductibletemporarydifferencesduringthereportingperiod.
3.Analysisofcashflowsduringthereportingperiod
Unit:RMB
| Item | January–September2025 | January–September2024 | Change | Reasonforchange |
| Netcashflowsfromoperatingactivities | 702,589,282.04 | 2,384,383,407.80 | -70.53% | (1) |
| Netcashflowsfrominvestingactivities | -463,982,036.31 | 631,043,187.50 | -173.53% | (2) |
| Netcashflowsfromfinancingactivities | -279,188,820.55 | -3,489,477,926.53 | 92.00% | (3) |
Explanationofthereasonsleadingtothemajorchanges:
(1)Netcashflowsfromoperatingactivitiesdecreasedby70.53%ascomparedtothecorrespondingperiodoftheprioryear,mainlyduetoadecreaseinsalesofmachine-madepaperwithadecreaseinsalesrevenueresultingfromsomeproductionbasesinshutdownandmaintenanceduringthereportingperiod.
(2)Netcashflowsfrominvestingactivitiesdecreasedby173.53%ascomparedtothecorrespondingperiodofthe
prioryear,mainlyduetotherepurchaseofaportionoftheequityinterestinsubsidiariesheldbyminorityshareholdersduringthereportingperiodandtheproceedsreceivedfromthesaleoftheequityinterestinsubsidiariesinthecorrespondingperiodoftheprioryear.
(3)Netcashflowsfromfinancingactivitiesincreasedby92.00%ascomparedtothecorrespondingperiodoftheprioryear,mainlyduetomultiplemeasures,includinginterestratereductionsandextensionsformaturingloansbymajorfinancialinstitutions,beingtakentomitigatedebtrisksduringthereportingperiod.
II.USEOFPROCEEDS
□Applicable?NotapplicableTheCompanydidnotuseanyproceedsduringthereportingperiod.
III.INFORMATIONONSHAREHOLDERS(I)Totalnumberofshareholdersofordinarysharesandshareholdersofpreferenceshareswithrestoredvotingrightandtheshareholdingofthetoptenshareholders
Unit:share
| Totalnumberofordinaryshareholdersasattheendofthereportingperiod | 109,647,ofwhich92,474wereholdersofAshares,16,858wereholdersofBsharesand315wereholdersofHshares | Totalnumberofholdersofpreferenceshareswithrestoredvotingrightasattheendofthereportingperiod | 0 | |||||
| Shareholdingsoftoptenshareholders(excludingtheshareslentunderrefinancingbusiness) | ||||||||
| Nameofshareholder | Natureofshareholder | Percentageofshareholding | Numberofsharesheld | Numberofrestrictedsharesheld | Sharepledged,markedorfrozen | |||
| Statusofshares | Number | |||||||
| CHENMINGHOLDINGSCOMPANYLIMITED | State-ownedlegalperson | 15.50% | 455,781,319 | 0 | Pledged | 386,811,546 | ||
| Frozen | 409,956,441 | |||||||
| HKSCCNOMINEESLIMITED | Overseaslegalperson | 12.70% | 373,420,525 | 0 | ||||
| CHENMINGHOLDINGS(HONGKONG)LIMITED(Note1) | Overseaslegalperson | 12.38% | 364,131,563 | 0 | ||||
| JinXing | Domesticnaturalperson | 1.28% | 37,548,027 | 0 | ||||
| ChenHongguo(Note2) | Domesticnaturalperson | 0.65% | 19,080,044 | 12,810,033 | Frozen | 19,080,044 | ||
| JiZhongqiu | Domesticnaturalperson | 0.27% | 7,964,174 | 0 | ||||
| XuHekun | Domesticnaturalperson | 0.23% | 6,789,900 | 0 | ||||
| ZhangXinge | Domesticnaturalperson | 0.21% | 6,180,000 | 0 | ||||
| ChenHao | Domesticnaturalperson | 0.20% | 5,950,000 | 0 | ||||
| XuShaosen | Domesticnaturalperson | 0.18% | 5,403,463 | 0 | ||||
| Shareholdingsofthetoptennon-restrictedshareholders(excludingtheshareslentunderrefinancingbusinessandthelocked-upsharesoftheSeniorManagement) | ||||||||
| Nameofshareholder | Numberofnon-restrictedsharesheld | Classandnumberofshares | ||||||
| Classofshares | Number | |||||||
| CHENMINGHOLDINGSCOMPANYLIMITED | 455,781,319 | RMBordinaryshares | 455,781,319 | |
| HKSCCNOMINEESLIMITED | 373,420,525 | Overseaslistedforeignshares | 373,420,525 | |
| CHENMINGHOLDINGS(HONGKONG)LIMITED(Note1) | 364,131,563 | Domesticlistedforeignshares | 210,717,563 | |
| Overseaslistedforeignshares | 153,414,000 | |||
| JinXing | 37,548,027 | Domesticlistedforeignshares | 37,548,027 | |
| JiZhongqiu | 7,964,174 | RMBordinaryshares | 7,964,174 | |
| XuHekun | 6,789,900 | Domesticlistedforeignshares | 6,789,900 | |
| ChenHongguo(Note2) | 6,270,011 | RMBordinaryshares | 6,270,011 | |
| ZhangXinge | 6,180,000 | RMBordinaryshares | 6,180,000 | |
| ChenHao | 5,950,000 | RMBordinaryshares | 5,950,000 | |
| XuShaosen | 5,403,463 | Domesticlistedforeignshares | 5,403,463 | |
| Relatedpartyrelationshiporactinginconcertamongtheaboveshareholders | Ashareholder,ChenmingHoldings(HongKong)Limited,whichisanoverseaslegalperson,isawholly-ownedsubsidiaryofashareholder,ChenmingHoldingsCompanyLimited,whichisastate-ownedlegalperson.Savefortheabove,itisnotawarethatanyothershareholdersoftradablesharesarepersonsactinginconcert.Itisalsonotawarethatanyothershareholdersoftradablesharesarerelatedtoeachother. | |||
| Securitiesmargintradingoftop10shareholders | ChenmingHoldingsCompanyLimitedheld455,781,319RMBordinaryshares,ofwhich409,956,441shareswereheldthroughordinaryaccountand45,824,878shareswereheldthroughcreditguaranteesecurityaccount. | |||
Note1:Inordertomeetitsowncapitalneeds,ChenmingHoldings(HongKong)Limitedconductedsharefinancingbusinesswithoverseasinstitutions,entrusting210,717,563Bsharesand153,414,000HsharesoftheCompanyheldbyittothecustodybrokeragedesignatedbyoverseasinstitutions.Theaforesaidsharesweresubjecttotheriskofnottoberecovered,whichmayleadtoareductionintheCompany’sshareholding,butdoesnotaffectChenmingHoldings’positionasthelargestshareholder,anddoesnotaffecttheCompany’scontrol.Fordetails,pleaserefertotheannouncementdisclosedbytheCompanyonCNINFOon18July2023(announcementno.:2023-058)andtheinsiderinformationdisclosedbytheCompanyonthewebsiteofHongKongStockExchangeon18July2023.Note2:On1November2024,pursuanttothe2020RestrictedAShareIncentiveScheme(Draft),theCompanymadepaymentstotheparticipantsfortherepurchaseofrestrictedsharesnotyetunlockedforthethirdunlockingperiodunderthe2020RestrictedAShareIncentiveScheme.Intheprocessofcompletingtheproceduresforthesharetransferandcancellation,the6,000,000restrictedsharesheldbyMr.ChenHongguowerejudiciallyfrozen.Hence,theproceduresforthetransferandcancellationofsuchrestrictedshareswerenotyetcompletedwiththeShenzhenBranchofChinaSecuritiesDepositoryandClearingCorporationLimited.The19,080,044sharesheldbyMr.ChenHongguo,beingadomesticnaturalperson,excludesthe6,000,000restrictedsharestobecancelledundertheshareincentivescheme.Sharelendingbyshareholdersinterestedinmorethan5%,top10shareholdersandtop10/shareholdersofnon-restrictedsharesunderrefinancingbusiness
□Applicable?NotapplicableChangesoftop10shareholdersandtop10shareholdersofnon-restrictedsharesduetolending/returningofsharesunderrefinancingbusinessascomparedtopriorperiod
□Applicable?Notapplicable
(II)Totalnumberofshareholdersofpreferencesharesandshareholdingofthetoptenshareholdersofpreferenceshares
□Applicable?NotapplicableIV.OTHERMATERIALMATTERS?Applicable□Notapplicable
1.ResumptionofoperationandproductionofproductionbasesDuringthereportingperiod,withthefirmsupportandguidanceofPartycommitteesandgovernmentsatalllevels,theCompanyfullyleveragedtheroleoftheGroup’sPartycommitteeasthe“backbone”,andadheredtothe“safety-first,efficiency-focused,andbenefit-driven”principle.Focusingoncostreduction,efficiencyimprovement,andinnovation-drivenreform,theCompanyprioritisedtheresumptionofoperationandproductionofitsproductionbaseswithoverallplanninginpursuitofsyndicatedloans,aswellaskeyaspectssuchasequipmentmaintenance,technologicalupgrades,materialsupplyandproductsales.Currently,theHuanggangproductionbaseandJiangxiBaseSecondPlantmaintainnormaloperation,whiletheShouguangproductionbaseandJilinproductionbasehaveachievedfullresumptionofoperationandproduction.Movingforward,theCompanywilladoptabenefit-centricapproachtoenhancemarketanalysis,continuouslyoptimiseitsproductstructure,devoteresourcesintodevelopingcompetitiveproductofferings,andtakesolidstepstopursuecostreductionandefficiencyimprovement.Withmeasuresincludingstrengtheningbudgetcontrolandrevitalisingexistingassets,theCompanywillenhancecapitalutilisationefficiency,acceleratecashflowrecovery,andensurethesustainedandstabledevelopmentoftheCompany.V.QUARTERLYFINANCIALSTATEMENTS(I)FinancialStatements
1.ConsolidatedBalanceSheetPreparedby:ShandongChenmingPaperHoldingsLimited
30September2025
Unit:RMB
| Item | Closingbalance | Openingbalance |
| CURRENTASSETS: | ||
| Monetaryfunds | 731,639,703.39 | 5,909,879,812.18 |
| Financialassetsheldfortrading | 42,521,623.99 | 37,259,325.70 |
| Billsreceivable | 851,752,915.38 | 506,605,701.74 |
| Accountsreceivable | 882,452,137.37 | 1,384,290,313.70 |
| Accountsreceivablefinancing | 22,976,899.30 | 100,730,797.32 |
| Prepayments | 565,645,220.89 | 631,893,495.14 |
| Otherreceivables | 658,088,383.94 | 1,084,651,870.94 |
| Including:Interestreceivable | ||
| Dividendreceivable | 22,659,149.81 | |
| Inventories | 2,683,004,403.09 | 2,835,388,802.15 |
| Non-currentassetsduewithinoneyear | 1,843,288,899.45 | 2,840,365,519.48 |
| Othercurrentassets | 246,581,588.87 | 559,911,202.83 |
| Totalcurrentassets | 8,527,951,775.67 | 15,890,976,841.18 |
| NON-CURRENTASSETS: | ||
| Long-termreceivables | 331,738,344.67 | 280,291,802.55 |
| Long-termequityinvestments | 3,331,199,750.94 | 3,971,035,411.54 |
| Othernon-currentfinancialassets | 344,055,571.63 | 751,030,454.68 |
| Investmentproperty | 5,457,731,468.00 | 5,743,235,268.46 |
| Fixedassets | 29,774,980,628.33 | 31,855,069,324.04 |
| Constructioninprogress | 626,073,641.78 | 593,838,603.87 |
| Bearerbiologicalassets | 9,383,299.52 | 9,352,071.80 |
| Right-of-useassets | 253,312,155.23 | 266,024,312.87 |
| Intangibleassets | 1,616,521,931.07 | 1,652,267,783.57 |
| Long-termprepaidexpenses | 246,080,740.26 | 289,677,546.87 |
| Deferredincometaxassets | 1,902,624,777.10 | 1,790,639,019.23 |
| Othernon-currentassets | 433,320,325.23 | 415,856,701.42 |
| Totalnon-currentassets | 44,327,022,633.76 | 47,618,318,300.90 |
| Totalassets | 52,854,974,409.43 | 63,509,295,142.08 |
| CURRENTLIABILITIES: | ||
| Short-termborrowings | 23,312,003,936.03 | 26,780,358,809.11 |
| Billspayable | 53,732,813.94 | 1,423,918,112.99 |
| Accountspayable | 8,242,469,355.33 | 7,708,967,406.47 |
| Receiptsinadvance | 41,804,105.87 | 54,538,940.24 |
| Contractliabilities | 485,144,692.32 | 274,829,824.35 |
| Employeebenefitspayable | 349,193,609.76 | 251,387,660.00 |
| Taxespayable | 197,553,821.05 | 193,424,339.67 |
| Otherpayables | 4,074,062,157.79 | 2,896,409,953.94 |
| Including:Interestpayable | 345,615,272.60 | 63,042,283.31 |
| Dividendpayable | 224,249,922.56 | 123,000,000.00 |
| Non-currentliabilitiesduewithinoneyear | 2,964,214,743.99 | 1,577,936,964.14 |
| Othercurrentliabilities | 369,024,362.07 | 2,680,562,600.58 |
| Totalcurrentliabilities | 40,089,203,598.15 | 43,842,334,611.49 |
| NON-CURRENTLIABILITIES: | ||
| Long-termborrowings | 3,553,732,867.54 | 4,763,662,194.24 |
| Leaseliabilities | 36,460,994.21 | 37,092,473.06 |
| Long-termpayables | 2,656,766,474.21 | 774,965,008.29 |
| Provisions | 5,935,000.00 | 5,935,000.00 |
| Deferredincome | 1,163,875,832.05 | 1,240,939,485.52 |
| Deferredincometaxliabilities | 4,550,601.03 | 8,595,744.33 |
| Totalnon-currentliabilities | 7,421,321,769.04 | 6,831,189,905.44 |
| Totalliabilities | 47,510,525,367.19 | 50,673,524,516.93 |
| OWNERS’EQUITY: | ||
| Sharecapital | 2,934,556,200.00 | 2,934,556,200.00 |
| Capitalreserves | 5,241,279,229.79 | 5,207,678,622.75 |
| Less:Treasuryshares | ||
| Othercomprehensiveincome | -903,204,491.66 | -913,708,670.15 |
| Specialreserves | 31,297,325.64 | 26,800,491.53 |
| Surplusreserves | 1,212,009,109.97 | 1,212,009,109.97 |
| Generalriskprovisions | 80,950,584.11 | 80,950,584.11 |
| Retainedprofit | -5,399,998,532.47 | 607,818,020.70 |
| TotalequityattributabletoownersoftheCompany | 3,196,889,425.38 | 9,156,104,358.91 |
| Minorityinterest | 2,147,559,616.86 | 3,679,666,266.24 |
| Totalowners’equity | 5,344,449,042.24 | 12,835,770,625.15 |
| Totalliabilitiesandowners’equity | 52,854,974,409.43 | 63,509,295,142.08 |
HeadoftheCompany:JiangYanshanFinancialcontroller:ZhuYanliHeadoftheaccountingdepartment:
ZhangBo
2.Consolidatedstatementofprofitorlossfromthebeginningoftheyeartotheendofthereportingperiod
Unit:RMB
| Item | Amountsfortheperiod | Amountsforthepriorperiod |
| I.Totalrevenue | 3,347,860,731.23 | 19,824,745,808.47 |
| Including:Revenue | 3,347,860,731.23 | 19,824,745,808.47 |
| II.Totaloperatingcosts | 7,289,484,559.58 | 21,139,848,178.56 |
| Including:Operatingcosts | 5,432,612,403.50 | 18,076,967,929.54 |
| Taxesandsurcharges | 93,123,597.44 | 172,994,270.42 |
| Salesanddistributionexpenses | 74,655,486.97 | 147,210,064.88 |
| Generalandadministrativeexpenses | 408,744,204.71 | 490,303,334.84 |
| Researchanddevelopmentexpenses | 55,005,532.38 | 901,808,557.06 |
| Financeexpenses | 1,225,343,334.58 | 1,350,564,021.82 |
| Including:Interestexpenses | 1,166,488,633.69 | 1,241,469,909.19 |
| Interestincome | 34,525,061.88 | 112,019,478.55 |
| Add:Otherincome | 54,812,362.26 | 238,472,943.40 |
| Investmentincome(“-”denotesloss) | -715,405,073.98 | 194,417,150.47 |
| Including:Investmentincomefromassociatesandjointventures | -632,803,183.71 | -12,485,632.66 |
| Gainsonderecognitionoffinancialassetsmeasuredatamortisedcost | -85,083,299.15 | -36,523,493.40 |
| Gainonchangeinfairvalue(“-”denotesloss) | -123,350,217.95 | 1,638,333.26 |
| Creditimpairmentloss(“-”denotesloss) | -1,341,707,401.59 | -210,922,415.23 |
| Lossonimpairmentofassets(“-”denotesloss) | -440,561,409.32 | -3,041,427.75 |
| Gainondisposalofassets(“-”denotesloss) | -15,007,877.85 | 18,201,227.31 |
| III.Operatingprofit(“-”denotesloss) | -6,522,843,446.78 | -1,076,336,558.63 |
| Add:Non-operatingincome | 1,142,090.55 | 3,329,197.50 |
| Less:Non-operatingexpenses | 27,615,247.22 | 3,617,706.61 |
| IV.Totalprofit(“-”denotestotalloss) | -6,549,316,603.45 | -1,076,625,067.74 |
| Less:Incometaxexpenses | -112,807,869.23 | -267,218,588.36 |
| V.Netprofit(“-”denotesnetloss) | -6,436,508,734.22 | -809,406,479.38 |
| (I)Classificationaccordingtothecontinuityofoperation | ||
| 1.Netprofitfromcontinuingoperations(“-”denotesnetloss) | -6,436,508,734.22 | -809,406,479.38 |
| (II)Classificationaccordingtoownership | ||
| 1.NetprofitattributabletoshareholdersoftheCompany(“-”denotesnetloss) | -6,007,816,553.17 | -710,098,519.92 |
| 2.Profitorlossofminorityinterest(“-”denotesnetloss) | -428,692,181.05 | -99,307,959.46 |
| VI.Netothercomprehensiveincomeaftertax | 10,504,178.49 | 47,637,461.79 |
| NetothercomprehensiveincomeaftertaxattributabletoownersoftheCompany | 10,504,178.49 | 47,637,461.79 |
| (I)Othercomprehensiveincomethatcannotbereclassifiedtoprofitorloss | ||
| (II)Othercomprehensiveincomethatwillbereclassifiedtoprofitorloss | 10,504,178.49 | 47,637,461.79 |
| 1.Exchangedifferencesarisingfromtranslationoffinancialstatementsdenominatedinforeigncurrencies | 18,466,994.15 | 43,964,948.40 |
| 2.Othercomprehensiveincomethatmaybereclassifiedtoprofitorlossundertheequitymethod | -7,962,815.66 | 3,672,513.39 |
| Othercomprehensiveincome,netoftaxattributabletominorityinterest | ||
| VII.Totalcomprehensiveincome | -6,426,004,555.73 | -761,769,017.59 |
| (I)TotalcomprehensiveincomeattributabletoownersoftheCompany | -5,997,312,374.68 | -662,461,058.13 |
| (II)Totalcomprehensiveincomeattributabletominorityinterest | -428,692,181.05 | -99,307,959.46 |
| VIII.Earningspershare: | ||
| (I)Basicearningspershare | -2.05 | -0.242 |
| (II)Dilutedearningspershare | -2.05 | -0.242 |
HeadoftheCompany:JiangYanshanFinancialcontroller:ZhuYanliHeadoftheaccountingdepartment:
ZhangBo
3.Consolidatedstatementofcashflowsfromthebeginningoftheyeartotheendofthereportingperiod
Unit:RMB
| Item | Amountsfortheperiod | Amountsforthepriorperiod |
| I.Cashflowsfromoperatingactivities: | ||
| Cashreceivedfromsalesofgoodsandrenderingofservices | 3,876,909,484.88 | 20,448,401,525.26 |
| Taxrebatesreceived | 8,332,611.17 | |
| Cashreceivedrelatingtootheroperatingactivities | 395,413,687.76 | 276,833,601.14 |
| Subtotalofcashinflowsfromoperatingactivities | 4,272,323,172.64 | 20,733,567,737.57 |
| Cashpaidforgoodsandservices | 2,638,148,684.72 | 15,836,858,161.61 |
| Cashpaidtoandforemployees | 588,714,404.21 | 941,577,523.11 |
| Paymentsoftaxesandsurcharges | 125,150,526.22 | 372,069,303.31 |
| Cashpaidrelatingtootheroperatingactivities | 217,720,275.45 | 1,198,679,341.74 |
| Subtotalofcashoutflowsfromoperatingactivities | 3,569,733,890.60 | 18,349,184,329.77 |
| Netcashflowsfromoperatingactivities | 702,589,282.04 | 2,384,383,407.80 |
| II.Cashflowsfrominvestingactivities: | ||
| Cashreceivedfrominvestments | 211,417.43 | 7,305,395.37 |
| Cashreceivedfrominvestmentsincome | 1,384,673.77 | 1,798,463.59 |
| Netcashreceivedfromdisposaloffixedassets,intangibleassetsandotherlong-termassets | 45,908,036.00 | 19,137,619.49 |
| Netcashreceivedfromdisposalofsubsidiariesandotherbusinessunits | 650,000.00 | 665,807,490.67 |
| Cashreceivedrelatingtootherinvestingactivities | ||
| Subtotalofcashinflowsfrominvestingactivities | 48,154,127.20 | 694,048,969.12 |
| Cashpaidforpurchaseoffixedassets,intangibleassetsandotherlong-termassets | 3,180,247.38 | 63,005,781.62 |
| Netcashpaidforacquisitionofsubsidiariesandother | 508,955,916.13 |
| businessunits | ||
| Cashpaidrelatingtootherinvestingactivities | ||
| Subtotalofcashoutflowsfrominvestingactivities | 512,136,163.51 | 63,005,781.62 |
| Netcashflowsfrominvestingactivities | -463,982,036.31 | 631,043,187.50 |
| III.Cashflowsfromfinancingactivities: | ||
| Cashreceiptsfromcapitalcontributions | ||
| Cashreceivedfromborrowings | 13,992,478,538.58 | 22,906,350,204.37 |
| Cashreceivedrelatingtootherfinancingactivities | 5,135,704,162.53 | 2,820,162,381.76 |
| Subtotalofcashinflowsfromfinancingactivities | 19,128,182,701.11 | 25,726,512,586.13 |
| Cashrepaymentsofamountsborrowed | 18,574,823,859.81 | 25,410,387,276.90 |
| Cashpaidfordividendandprofitdistributionorinterestpayment | 654,278,665.77 | 1,335,357,682.29 |
| Including:Dividendandprofitpaidbysubsidiariestominorityshareholders | ||
| Cashpaidrelatingtootherfinancingactivities | 178,268,996.08 | 2,470,245,553.47 |
| Subtotalofcashoutflowsfromfinancingactivities | 19,407,371,521.66 | 29,215,990,512.66 |
| Netcashflowsfromfinancingactivities | -279,188,820.55 | -3,489,477,926.53 |
| IV.Effectofforeignexchangeratechangesoncashandcashequivalents | -1,284,372.00 | 18,530,453.22 |
| V.Netincreaseincashandcashequivalents | -41,865,946.82 | -455,520,878.01 |
| Add:Balanceofcashandcashequivalentsasatthebeginningoftheperiod | 151,943,246.31 | 764,233,742.61 |
| VI.Balanceofcashandcashequivalentsasattheendoftheperiod | 110,077,299.49 | 308,712,864.60 |
(II)First-timeimplementationofnewaccountingstandardsfrom2025onwardsinvolvingadjustmentstothefinancialstatementsatthebeginningoftheyearofinitialapplication
□Applicable?Notapplicable(III)Auditors’ReportHasthethirdquarterlyreportalreadybeenauditedyet?
□Yes?NoThethirdquarterlyreportoftheCompanyisunaudited.
TheBoardofShandongChenmingPaperHoldingsLimited
30October2025