Chenming Paper disclosed its first-half 2026 report on the evening of August 28. The company pushed ahead with resuming full production across all manufacturing bases, achieving operating revenue of 6.865 billion yuan and a net loss attributable to the parent of 786 million yuan, a significant narrowing of over 70% compared with the same period last year. Net operating cash flow was 322 million yuan, maintaining a positive inflow. With all five major production bases back in full operation, machine-made paper output and sales more than doubled year on year, the advantage of self-sufficiency in wood pulp was gradually released, and the earnings resilience of the main business strengthened. The results of debt structure optimization became evident, with financial expenses of 561 million yuan, down 30.31% year on year. The financial leasing business was fully divested, sharpening the focus on the core pulp and paper business. Market analysts believe that the supply-demand landscape in the paper industry is improving at the margin, and there is room for the company's earnings recovery to open up further, but risks from industry cyclical fluctuations and intensifying competition remain.
Shandong Chenming Paper Holdings LtdFirst-half net loss narrowed over 70% and financial expenses fell 30.31%, showing improved earnings and debt optimization.
