HK Stock Market Move | CHENMING PAPER (01812) falls more than 10%. The year-on-year increase in losses exceeded 12%. The overdue balance of debt amounted to 5.12 billion yuan.

CHENMING PAPER (01812) fell by more than 10%, dropping by 10.08% to 1.07 Hong Kong dollars at the time of writing, with a trading volume of 3.3487 million Hong Kong dollars. On the news front, CHENMING PAPER announced its performance for the year 2025, with operating income of 61.87 billion yuan, a year-on-year decrease of 72.78%; a net loss attributable to shareholders of the listed company of 82.96 billion yuan, an increase of 11.94% year-on-year. During the reporting period, the company incurred increased losses from shutdowns and maintenance expenses, while the production and sales volume of mechanical paper decreased significantly, affecting revenue and profit. Due to the shutdown impact, the company made impairment provisions for some assets, further affecting current profits. In order to focus on the development of the pulp and paper main business, the company divested all assets related to financing lease business in the fourth quarter of 2025 and will no longer engage in any financing lease business. In addition, CHENMING PAPER disclosed that as of March 30th of this year, the group's accumulated overdue debt amount increased by 16.44 billion yuan compared to the same period last year, accounting for 181.86% of the company's latest audited net assets. The overdue debt balance is 51.2 billion yuan. The types of overdue debts include revolving loans, project loans, supply chain financing, equipment financing, and matured bills, with creditors including banks, financial leasing companies, factoring companies, and suppliers.