晨鸣Ｂ:2023年年度报告(英文版)

【摘要】SHANDONGCHENMINGPAPERHOLDINGSLIMITEDAnnualReport2023March2024Theboardofdirectors(the“Board”),thesupervisorycommittee(the...

SHANDONG CHENMING PAPER HOLDINGS LIMITED
        Annual Report 2023

                  March 2024


The board of directors (the “Board”), the supervisory committee (the “Supervisory Committee”) and the directors (the

“Directors”), supervisors (the “Supervisors”) and senior management (the “Senior Management”) of the Company hereby

warrant the truthfulness, accuracy and completeness of the contents of the annual report, guarantee that there are no false

representations, misleading statements or material omissions contained in this annual report, and are jointly and severally

responsible for the liabilities of the Company.

Chen Hongguo, head of the Company, Dong Lianming, head in charge of accounting and Zhang Bo, head of the accounting

department (Accounting Officer), declare that they warrant the truthfulness, accuracy and completeness of the financial report

in the annual report.

All Directors have attended the board meeting to review this report.

Forward-looking statements such as future plans and operating targets contained in this annual report do not represent

earnings forecasts of the Company nor constitute substantive commitments to investors by the Company. Investors and

relevant persons shall maintain a sufficient risk awareness hereto and understand the differences among plans, forecasts and

commitments.

The Company is exposed to various risk factors such as macro-economic fluctuation, state policies and regulations and

competition in the industry. Investor should be aware of investment risks. For further details, please refer to the risk factors

likely to be faced and the measures to be taken to address them as set out in the outlook on the future development of the

Company in Management Discussion and Analysis.

The Company does not propose distribution of cash dividends or bonus shares, and there will be no increase of share capital

from reserves.

                                                                                    2023 ANNUAL REPORT  1

    Table of Contents


      I        Important Notice, Table of Contents and Definitions......        1

      II        Company Profile and Key Financial Indicators ......        6

      III        Chairman’s Report ......      11

      IV        Management Discussion and Analysis ......      12

      V        Directors’ Report......      42

      VI        Corporate Governance ......      52

      VII      Environment and Social Responsibility......      95

      VIII      Material Matters ......      104

      IX        Changes in Share Capital and Shareholders ......      139

      X        Preference Shares......      150

      XI        Bonds......      151

      XII      Financial Report ......      152
2    SHANDONG CHENMING PAPER HOLDINGS LIMITED

Documents Available for Inspection

I.    The financial statements signed and sealed by the legal representative, financial representative and head of the financial

    department of the Company.

II.  The original copy of the auditor’s report which is sealed by the accounting firm and signed and sealed by the certified public

    accountants.

III.  The original copies of the documents and announcements of the Company disclosed in the designated newspaper and on

    the website as approved by the CSRC during the reporting period.

IV.  The annual report disclosed on the website of The Stock Exchange of Hong Kong Limited.

V.  Other related information.

                                                                                    2023 ANNUAL REPORT  3

    Definitions

      Item                                                    Definition

      Company, Group, Chenming Group, Chenming    means  Shandong Chenming Paper Holdings Limited and its subsidiaries
        Paper or Chenming Paper Company

      Parent Company or Shouguang Headquarters      means  Shandong Chenming Paper Holdings Limited

      Chenming Holdings                            means  Chenming Holdings Company Limited

      Shenzhen Stock Exchange                      means  Shenzhen Stock Exchange

      Stock Exchange                                means  The Stock Exchange of Hong Kong Limited

      CSRC                                        means  China Securities Regulatory Commission

      Shandong CSRC                              means  Shandong branch of China Securities Regulatory Commission
      Zhanjiang Chenming                            means  Zhanjiang Chenming Pulp & Paper Co., Ltd.

      Jiangxi Chenming                              means  Jiangxi Chenming Paper Co., Ltd.

      Wuhan Chenming                              means  Wuhan Chenming Hanyang Paper Holdings Co., Ltd.

      Shanghai Chenming                            means  Shanghai Chenming Industry Co., Ltd.

      Huanggang Chenming                          means  Huanggang Chenming Pulp & Paper Co., Ltd.

      Chenming (HK)                                means  Chenming (HK) Limited

      Jilin C