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1、 Shandong Chenming Paper Holdings Limited 2021 First Quarterly Report 1 SHANDONG CHENMING PAPER HOLDINGS LIMITED* 2021 First Quarterly Report April 2021 Shandong Chenming Paper Holdings Limited 2021 First Quarterly Report 2 I. Important Notice The board of directors (the “Board”), the supervisory co
2、mmittee (the “Supervisory Committee”), and the directors (the “Directors”), supervisors (the “Supervisors”) and senior management (the “Senior Management”) of the Company hereby warrant that the truthfulness, accuracy and completeness of this quarterly report which does not contain false representat
3、ions, misleading statements or material omissions, and are jointly and severally responsible for the liabilities of the Company. All Directors were present at the Board meeting to consider and approve this quarterly report. Chen Hongguo, the head of the Company, Dong Lianming, the head in charge of
4、accounting, and Zhang Bo, the head of the accounting department (Accounting Officer), declare that they warrant the truthfulness, accuracy and completeness of the financial statements in this quarterly report. Shandong Chenming Paper Holdings Limited 2021 First Quarterly Report 3 II. General Informa
5、tion of the Company I. Major accounting data and financial indicators Retrospective adjustment to or restatement of the accounting data for prior years by the Company Yes No The reporting period The corresponding period of the prior year Increase/decrease compared to the corresponding period of the
6、prior year Revenue (RMB) 10,205,724,007.89 6,085,376,805.28 67.71% Net profit attributable to shareholders of the Company (RMB) 1,179,076,577.84 202,790,856.25 481.42% Net profit after extraordinary gains or losses attributable to shareholders of the Company (RMB) 1,165,076,739.34 143,993,251.71 709
7、.12% Net cash flows from operating activities (RMB) 3,386,890,222.27 655,581,522.20 416.62% Basic earnings per share (RMB per share) 0.365 0.019 1821.05% Diluted earnings per share (RMB per share) 0.365 0.019 1821.05% Rate of return on weighted average net assets 5.51% 0.32% Increase of 5.19 percent
8、age point As at the end of the reporting period As at the end of the prior year Increase/decrease as at the end of the reporting period compared to the end of the prior year Total assets (RMB) 90,924,591,156.25 91,575,457,828.62 -0.71% Net assets attributable to shareholders of the Company (RMB) 22,
9、926,769,322.29 24,276,968,789.00 -5.56% Explanation: Net profit attributable to shareholders of the Company does not exclude the effect of the interest of perpetual bonds and the dividends of preference shares paid and declared to be paid. When calculating financial indicators such as earnings per s
10、hare and the rate of return on weighted average net assets, the interest for perpetual bonds from 1 Januaryto 31 March 2021 of RMB22,117,808.22 and the dividend on preference shares paid in 2021 of RMB98,100,000.00 are deducted. Items and amounts of extraordinary gains or losses Applicable Not appli
11、cable Unit: RMB Shandong Chenming Paper Holdings Limited 2021 First Quarterly Report 4 Notes for the Companys extraordinary gain or loss items as defined in the Explanatory Announcement on Information Disclosure for Companies Offering Their Securities to the Public No. 1 Extraordinary Gains or Losse
12、s and the extraordinary gain or loss items as illustrated in the Explanatory Announcement on Information Disclosure for Companies Offering Their Securities to the Public No. 1 Extraordinary Gains or Losses defined as its recurring gain or loss items Applicable Not applicable No extraordinary gain or
13、 loss items as defined or illustrated in the Explanatory Announcement on Information Disclosure for Companies Offering Their Securities to the Public No. 1 Extraordinary Gains or Losses were defined by the Company as its recurring gain or loss items during the reporting period. II. Total number of s
14、hareholders and shareholdings of the top ten shareholders as at the end of the reporting period 1. Total number of shareholders of ordinary shares and shareholders of preference shares with restored voting rights and shareholdings of the top ten shareholders Unit: share Total number of shareholders
15、of ordinary shares as at the end of the reporting period 136,238, of which 116,697 were holders of A shares, 19,201 were holders of B shares and 340 were holders of H shares Total number of shareholders of preference shares with restored voting right as at the end of the reporting period 0 Item Amou
16、nts for the period from the beginning of the year to the end of the reporting period Note Profit or loss from disposal of non-current assets (including write-off of asset impairment provision) 8,707,022.62 Government grants (except for the government grants closely related to the normal operation of
17、 the company and granted constantly at a fixed amount or quantity in accordance with a certain standard based on state policies) accounted for in profit or loss for the current period 58,441,146.99 Except for effective hedging business conducted in the ordinary course of business of the Company, gai
18、n or loss arising from the change in fair value of financial assets held for trading, derivative financial assets, financial liabilities held for trading and derivative financial liabilities, as well as investment gains from disposal of financial assets held for trading, derivative financial assets,
19、 financial liabilities held for trading, derivative financial liabilities and other debt investments -59,993,447.44 Investment income from dividend of non-current financial assets 15,000,000.00 Non-operating income and expenses other than the above items 6,906,710.91 Less: Effect of income tax 14,40
20、1,525.18 Effect of minority interest (after tax) 660,069.40 Total 13,999,838.50 - Shandong Chenming Paper Holdings Limited 2021 First Quarterly Report 5 Shareholding of top ten shareholders Name of shareholders Nature of shareholders Percentage of shareholding Number of shares held Number of restric
21、ted shares held Share pledged or locked-up Status of shares Number CHENMING HOLDINGS COMPANY LIMITED State-owned legal person 15.32% 457,322,919 0 Pledged 212,970,000 HKSCC NOMINEES LIMITED Overseas legal person 12.52% 373,513,625 0 CHENMING HOLDINGS (HONG KONG) LIMITED Overseas legal person 12.20%
22、364,131,563 0 NINGBO ASIA PAPER TUBE CARTON CO., LTD. (寧波亞洲紙管紙箱有限公司) Domestic non-state owned legal person 3.89% 116,080,074 0 HONG KONG SECURITIES CLEARING COMPANY LIMITED Overseas legal person 1.35% 40,230,192 0 CHEN HONGGUO Domestic nature person 1.04% 31,080,044 23,310,033 GUO TAI JUN AN SECURIT
23、IES (HONGKONG) LIMITED Overseas legal person 0.78% 23,332,494 0 UBS AG LONDON BRANCH Overseas legal person 0.58% 17,318,262 0 BANK OF CHINA LIMITED GUOTAI ZHIYUAN ADVANTAGEOUS HYBRID SECURITIES INVESTMENT FUND (中國銀行股份有限公司國泰致遠優勢混合型證券投資基金) Others 0.55% 16,500,069 0 VANGUARD TOTAL INTERNATIONAL STOCK I
24、NDEX FUND Overseas legal person 0.50% 14,771,945 0 Shareholdings of the top ten shareholders of non-restricted shares Name of shareholders Number of non-restricted shares held Class of shares Class of shares Number CHENMING HOLDINGS COMPANY LIMITED 457,322,919 RMB ordinary shares 457,322,919 HKSCC N
25、OMINEES LIMITED 373,513,625 Overseas listed foreign shares 373,513,625 CHENMING HOLDINGS (HONG KONG) LIMITED 364,131,563 Domestic listed foreign shares 210,717,563 Shandong Chenming Paper Holdings Limited 2021 First Quarterly Report 6 Overseas listed foreign shares 153,414,000 NINGBO ASIA PAPER TUBE
26、 CARTON CO., LTD. (寧波亞洲紙管紙箱有限公司) 116,080,074 RMB ordinary shares 116,080,074 HONG KONG SECURITIES CLEARING COMPANY LIMITED 40,230,192 RMB ordinary shares 40,230,192 GUO TAI JUN AN SECURITIES (HONGKONG) LIMITED 23,332,494 Domestic listed foreign shares 23,332,494 UBS AG LONDON BRANCH 17,318,262 Domes
27、tic listed foreign shares 17,318,262 BANK OF CHINA LIMITED GUOTAI ZHIYUAN ADVANTAGEOUS HYBRID SECURITIES INVESTMENT FUND (中國銀行股份有限公司國泰致遠優勢混合型證券投資基金) 16,500,069 RMB ordinary shares 16,500,069 VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND 14,771,945 Domestic listed foreign shares 14,771,945 MORGAN STA
28、NLEY & CO. INTERNATIONAL PLC 14,470,378 Domestic listed foreign shares 14,470,378 Related party relationship or acting in concert among the above shareholders A shareholder, Chenming Holdings (Hong Kong) Limited, which is an overseas legal person, is a wholly-owned subsidiary of a shareholder, Chenm
29、ing Holdings Company Limited, which is a state-owned legal person. Hence they are persons acting in concert under Administration Measure on Disclosure of Information on the Change of Shareholding in Listed Companies (上市公司股東持股變動信息披露管理辦法). A shareholder, Chen Hongguo, is the legal representative, chai
30、rman and general manager of Chenming Holdings Company Limited. Save for the above, it is not aware that any other aforementioned shareholders are persons acting in concert. It is also not aware that any other aforementioned shareholders are related to each other. Securities margin trading of top 10
31、shareholders, if any Chenming Holdings Company Limited held 457,322,919 RMB ordinary shares, of which 379,522,919 shares were held through ordinary account and 77,800,000 shares were held through credit guarantee securities account; Ningbo Asia Paper Tube Carton Co., Ltd. held 116,080,074 RMB ordina
32、ry shares, of which 0 shares were held through ordinary account and 116,080,074 shares were held through credit guarantee securities account. Whether an agreed repurchase transaction was entered into during the reporting period by the top 10 ordinary shareholders and top 10 shareholders of non-restr
33、icted shares of the Company Yes No The top 10 ordinary shareholders and top 10 shareholders of non-restricted ordinary shares of the Company did not enter into any agreed repurchase transaction during the reporting period. 2. Total number of shareholders of preference shares and shareholding of the
34、top ten shareholders of preference shares Applicable Not applicable Unit: share Shandong Chenming Paper Holdings Limited 2021 First Quarterly Report 7 Total number of shareholders of preference shares as at the end of the reporting period 6 Shareholdings of the top ten shareholders of preference sha
35、res Name of shareholders Nature of shareholders Percentage of shareholding Number of shares held Number of restricted shares held Share pledged or locked-up Status of shares Number BANK OF COMMUNICATIONS INTERNATIONAL TRUST CO., LTD. HUILI NO. 136 SINGLE CAPITAL TRUST Others 28.44% 6,400,000 0 BEIJI
36、NG YIBEN ZHONGXING INVESTMENT MANAGEMENT CO., LTD. Domestic non-state-owned legal person 27.11% 6,100,000 0 Pledged 6,100,000 SHANGHAI SHIJIE BUSINESS CONSULTING CO., LTD. Domestic non-state-owned legal person 19.51% 4,390,100 0 Pledged 4,140,000 HENGFENG BANK CO., LTD. Domestic non-state-owned lega
37、l person 13.33% 3,000,000 0 LEAD CAPITAL MANAGEMENT CO., LTD. LEAD CAPITAL LI DE YING NO. 1 ASSET MANAGEMENT PLAN Others 5.91% 1,330,000 0 LEAD CAPITAL MANAGEMENT CO., LTD. LEAD CAPITAL LI DE YING NO. 2 ASSET MANAGEMENT PLAN Others 5.69% 1,279,900 0 Related party relationship or acting in concert am
38、ong the above shareholders “LEAD CAPITAL MANAGEMENT CO., LTD. LEAD CAPITAL LI DE YING NO. 1 ASSET MANAGEMENT PLAN” and “LEAD CAPITAL MANAGEMENT CO., LTD. LEAD CAPITAL LI DE YING NO. 2 ASSET MANAGEMENT PLAN” are persons acting in concert. Save for the above, it is not aware that any other shareholder
39、s of preference shares are persons acting in concert, and it is also not aware whether there is any related party relationship between the above shareholders of preference shares and the top ten shareholders of ordinary shares. Shandong Chenming Paper Holdings Limited 2021 First Quarterly Report 8 I
40、II Material matters I. Details and reasons for changes of major financial data and financial indicators during the reporting period Applicable Not applicable (I) Analysis of the assets and liabilities of the Company Unit: RMB Item 31 March 2021 31 December 2020 Change Reason for change Financial ass
41、ets held for trading 133,349,089.17 192,907,800.62 -30.87% (1) Accounts receivable financing 1,071,559,674.38 488,385,666.76 119.41% (2) Bills payable 3,432,666,717.36 2,998,936,736.34 14.46% (3) Contract liabilities 1,278,950,068.66 1,051,147,044.74 21.67% (4) Other current liabilities 157,037,833.
42、35 -100.00% (5) Other equity instruments 3,234,750,000.00 5,473,500,000.00 -40.90% (6) Minority interest 2,490,325,610.41 1,523,294,926.24 63.48% (7) Explanation of the reasons leading to the major changes: (1) Financial assets held for trading decreased by 30.87% as compared to the beginning of the
43、 year, mainly due to the change in the fair value of the shares of China Bohai Bank held by the Company during the reporting period. (2) Accounts receivable financing increased by 119.41% as compared to the beginning of the year, mainly due to the increase in bills held at the end of the reporting p
44、eriod from the beginning of the year. (3) Bills payable increased by 14.46% as compared to the beginning of the year, mainly due to the increase in payment for goods with bills during the reporting period. (4) Contract liabilities increased by 21.67% as compared to the beginning of the year, mainly
45、due to the increase in advance payment from the customers of the Company. (5) Other current liabilities decreased by 100% as compared to the beginning of the year, mainly due to the repayment of all super & short-term commercial papers by the Company during the reporting period. (6) Other equity ins
46、truments decreased by 40.9% as compared to the beginning of the year, mainly due to the repayment of RMB2.25 billion preference shares by the Company during the reporting period. (7) Minority interest increased by 63.48% as compared to the beginning of the year, mainly due to the introduction of an
47、investor by Meilun Paper, a subsidiary, for its capital increase during the reporting period. (II) Reasons for significant year-on-year changes of income statement items Unit: RMB Shandong Chenming Paper Holdings Limited 2021 First Quarterly Report 9 Explanation of the reasons leading to the major c
48、hanges: (1) Revenue increased by 67.71% as compared to the corresponding period of last year, mainly due to the year-on-year increase in the sales and selling prices of machine-made paper s during the reporting period. (2) Research and development expense increased by 44.09% as compared to the corre
49、sponding period of last year, mainly due to the increase in research and development investment of the Company during the reporting period. (3) Gain on disposal of asset increased by 128.37% as compared to the corresponding period of last year, mainly due to the year-on-year increase in gain on disp
50、osal of asset during the reporting period. (III) Analysis of cash flows during the reporting period Unit: RMB Item January March 2021 January March 2020 Change Reasons for change Net cash flows from operating activities 3,386,890,222.27 655,581,522.20 416.62% (1) Net cash flows from investment activ