On 30 October 2025, Shandong Chenming Paper Holdings Limited (stock abbreviation: ST Chenming, stock codes: 000488 and 200488) disclosed a resolution from its Board regarding provisions for asset impairment for the first three quarters of 2025. The resolution, approved at the second meeting of the 11th Board, adheres to the Accounting Standards for Business Enterprises and the company’s accounting policies.

According to the announcement, total impairment provisions reached RMB1,782,268,800, affecting receivables, inventories, and fixed assets. This figure includes credit impairments on financial leasing business, accounts receivable, and other receivables, as well as inventory and fixed asset write-downs. The Board stated that these provisions were made in a prudent manner to more accurately reflect the true financial condition and performance of the company.

As stated in the announcement, these provisions are expected to reduce ST Chenming’s total profit for the first three quarters of 2025 by RMB1,782,268,800 and lower net profit attributable to shareholders by RMB1,701,197,800. The final amounts will be subject to confirmation during the annual audit, with the Board concluding that the impairment provisions align with regulatory requirements and accurately represent the company’s financial standing as of 30 September 2025.