HK Stock Market Move | Shandong Chenming Paper (01812) fell more than 3%, both the chairman and his wife resigned, the company's losses exceeded 700 million yuan in the third quarter.

Shares of Shandong Chenming Paper (01812) fell by more than 3%, marking the fourth consecutive decline. As of the time of this report, the stock price has dropped by 3.39% to 1.71 Hong Kong dollars, with a trading volume of 4.5018 million Hong Kong dollars. On the news front, Shandong Chenming Paper recently announced that Chen Hongguo has resigned from his positions as director, chairman, as well as member of the Strategic and Sustainable Development Committee and the Nomination Committee due to personal reasons. At the same time, Li Xueqin has applied to resign from the position of vice president as she is retiring. Public information shows that Chen Hongguo and Li Xueqin are spouses. In the first three quarters of this year, Shandong Chenming Paper achieved operating income of 19.825 billion yuan, an increase of 0.52% year-on-year; however, the net loss attributable to shareholders of the listed company amounted to 7.1 billion yuan. In the third quarter alone, the company's revenue was 5.94 billion yuan, a decrease of 17.0% year-on-year, with a loss of 7.39 billion yuan, compared to a loss of 80.2133 million yuan in the same period last year, representing an increase of 820.98% year-on-year.