CHENMING PAPER (01812) released its interim report summary for 2025, showing the group achieved operating revenue of RMB 2.107 billion during the period, down 84.83% year-on-year. Net loss attributable to shareholders of the listed company reached RMB 3.858 billion, representing a shift from profit to loss compared to the same period last year. Basic loss per share was RMB 1.31.

In recent years, the paper industry has experienced concentrated release of new capacity, creating prominent short-term supply-demand imbalances. Prices of the company's main paper products, particularly white cardboard, have declined significantly due to supply-demand pressures, leading to continued deterioration in the company's profitability and a shift to losses. Additionally, some financial institutions have tightened lending, resulting in the company and its subsidiaries experiencing instances where certain debts could not be repaid on schedule. Some creditors have filed lawsuits regarding these debts and applied for property preservation measures, with courts ordering the freezing of certain bank accounts of the company and its subsidiaries.

Furthermore, since the fourth quarter of 2024, some of the company's production lines have been shut down for maintenance. The company has disclosed these matters in accordance with relevant provisions of the Shenzhen Stock Exchange Listing Rules.

As of the end of the reporting period, the company's cumulative overdue debt amount reached RMB 3.821 billion, with a total of 332 frozen bank accounts and cumulative frozen amounts of RMB 39.3805 million (excluding deposits). Some of the company's production lines remain in shutdown status for maintenance.