ST晨鸣B：2025年半年度报告

(a joint stock company incorporated in the People’s Republic of China with limited liability)Stock Code: 1812 INTERIM REPORT2025 IImportant Notice, Table of Contents and Definitions 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 interim report, guarantee that there are no false representations, misleadingstatements or material omissions contained in this interim report, and are jointly and severally responsible for the liabilities of theCompany. Hu Changqing, head of the Company, Dong Lianming, head in charge of accounting and Zhang Bo, head of the accountingdepartment (Accounting Officer), declare that they warrant the truthfulness, accuracy and completeness of the financial report in theinterim report. All Directors have attended the board meeting to review this report. This interim report has been reviewed by the audit committee ofthe Company. The Company is exposed to various risk factors such as macro-economic fluctuation, adjustment of state policy and competition inthe industry. Investor should be aware of investment risks. For further details, please refer to the risk exposures of the Company andthe measures to be taken to address them as set out 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 fromreserves. IImportant Notice, Table of Contents and Definitions Table of Contents IImportant Notice, Table of Contents and Definitions1IICompany Profile and Key Financial Indicators5IIIManagement Discussion and Analysis8IVCorporate Governance, Environment and Society32VMaterial Matters41VIChanges in Share Capital and Shareholders63VIIBonds71VIIIFinancial Report72 IImportant Notice, Table of Contents and Definitions Documents Available for Inspection (I)The financial statements signed and sealed by the head of the Company, the head in charge of accounting and the head ofthe accounting department;(II)the interim report signed by the legal representative;(III)the original copies of all of the documents and announcements of the Company disclosed on the designated website asapproved by the China Securities Regulatory Commission during the reporting period;(IV)the interim report disclosed on The Stock Exchange of Hong Kong Limited; and(V)other relevant information. IImportant Notice, Table of Contents and Definitions Definitions IICompany Profile and Key Financial Indicators I.Company profile STStock code000488STB200488Shenzhen Stock ExchangeChenming PaperStock code01812The Stock Exchange of Hong Kong LimitedSHANDONG CHENMING PAPER HOLDINGS LIMITEDSCPHHu Changqing Stock abbreviation Stock exchanges on which the shares are listedStock abbreviationStock exchanges on which the shares are listedName in Chinese of the CompanyShort name in Chinese of the CompanyName in English of the CompanyShort name in English of the CompanyLegal representative of the Company II.Contact persons and contact methods Chu Hon Leungliamchu@li-partners.com22nd Floor, World Wide House,Central, Hong Kong00852-2162960000852-25010028 III.Other information 1.Contact methods of the Company Whether the registered address, office address, postal code, website, email and others of the Company changed during ApplicableNot applicable There was no change of the registered address, office address, postal code, website, email and others of the Companyduring the reporting period. Please refer to the 2024 annual report for details. 2.Information disclosure and places for inspection Whether the information disclosure and places for inspection changed during the reporting period ApplicableNot applicable There was no change of the websites of the stock exchanges and the names and websites of the media where theCompany discloses its interim report, and places for inspection of the Company’s interim report during the reportingperiod. Please refer to the 2024 annual report for details. 3.Other relevant information Whether other relevant information changed during the reporting period ApplicableNot applicable IICompany Profile and Key Financial Indicators IV.Major accounting data and financial indicators Retrospective adjustment to or restatement of the accounting data for prior years by the Company YesNo V.Differences in accounting data under domestic and overseas accounting standards 1.Differences between the net profit and net assets disclosed in accordance with international accountingstandards and China accounting standards in the financial report ApplicableNot applicable There was no difference between the net profit and net assets disclosed in accordance with international accountingstandards and China accounting standards in the financi