Shandong Chenming Paper Holdings Limited (1812) released a forecast indicating an expected net loss for the reporting period of 1 January to 31 December 2025. The announcement projects the net loss attributable to shareholders at RMB8,200 million to RMB8,800 million, compared to a loss of RMB7,410.78 million in the same period last year. Basic earnings per share are estimated to be a loss of RMB2.79 to RMB3.00, compared to the previous year’s RMB2.53.

According to the forecast, multiple production bases suspended operations for varying periods during the first to third quarters, curtailing production and sales volumes. This resulted in higher losses from shutdowns and maintenance expenses, along with additional impairment provisions for certain assets. In the fourth quarter, the company divested all finance leasing–related assets and ceased finance leasing activities, which led to additional bad debt provisions.

The announcement also highlights steps taken to enhance operational efficiency. These measures include resuming production at certain facilities, optimizing procurement processes, and negotiating interest reductions and maturity extensions with financial institutions, contributing to a lower financial cost burden compared to the previous year. The data in the announcement has not been audited or reviewed by an external auditor and may be subject to further adjustments.