China's Chenming Paper nine-month revenue jumps after full operations resume

Overview

• China pulp and paper maker's nine-month revenue rose 221% yr/yr after resuming full operations

• Company posted a net loss attributable to shareholders for the period

• Received RMB1.04 bln in debt exemptions from controlling shareholder and local state-owned firm

Outlook

• Company did not provide specific guidance for future quarters or full-year results

Result Drivers

• FULL RESUMPTION OF OPERATIONS - Co said revenue and operating costs rose due to all production bases achieving full resumption of operation and production during the reporting period

• INCREASED RAW MATERIAL EXPENSES - Co said net cash flows from operating activities fell due to higher expenditure for purchase of raw materials following full resumption of operations

• DECREASED CREDIT IMPAIRMENT LOSS - Co said credit impairment loss fell due to a decrease in provision for bad debts after spin-off of leasing business at end of prior year

Key Details

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)