"Profit Warning" CHENMING PAPER expects annual losses to expand to 8.2 billion to 8.8 billion RMB

CHENMING PAPER (01812.HK) issued a profit warning, expecting a loss of between RMB 8.2 billion and RMB 8.8 billion for the fiscal year 2025, compared to a loss of RMB 7.4 billion in the previous year. During the year, the Huanggang base operated normally, while the Shouguang, Jiangxi, and Jilin bases were basically shut down in the first to third quarters, and the Zhanjiang base was shut down for the entire year. The losses from work stoppages and maintenance costs increased year-on-year, and the significant decline in production and sales affected revenue and profit; the company accordingly made provisions for asset impairment on certain assets