ST Chenming: Terminate the construction of the Huanggang Chenming Phase II project.

ST Chenming announcement, the company has decided to terminate the construction of the Huanggang Chenming Phase II project. As of the disclosure date of the announcement, the Huanggang Chenming Phase II project has accumulated a total investment of 347 million yuan. The reason for termination is that in recent years, the paper industry has seen a concentrated investment in production capacity, leading to significant supply-demand imbalances. The prices of major paper products, especially white cardboard, have been continuously declining. The company's profitability is under significant pressure, with some financial institutions reducing the scale of their loans. The syndicated loans for the Huanggang Chenming Phase II project could not be successfully arranged.