Announcement • Mar 22

+ 1 more update

CPMC Holdings Limited Announces Board and Committee Changes

The board of directors of CPMC Holdings Limited announced that the following changes has become effective on 21 March 2025: Mr. Zhou Yuan has been redesignated from a non-executive Director to an executive Director, and is appointed as the chairman of the Board; Mr. Zhang Ye has been redesignated from the chairman to the vice chairman of the Board and the general manager; Mr. Qu Hongliang has been redesignated from the general manager to the vice general manager; Dr. Zhao Wei has tendered his resignation and resigned as a non-executive Director due to his decision to devote more time to his other work commitment; and Mr. Meng Fanjie has tendered his resignation and resigned as a non-executive Director and a member of the risk management committee due to retirement. The biographical details of Mr. Zhou Yuan, Mr. Zhang Ye and Mr. Qu Hongliang are set out below: ZHOU Yuan, aged 38, is an executive Director and the chairman of the Board. Mr. Zhou was appointed as a non-executive Director of the Company on 25 February 2016. Mr. Zhou was a vice chairman and a director of ORG Packaging, a listed company on Shenzhen Stock Exchange and a substantial shareholder of the Company, since November 2010 and as a director of Huang Shan NOVEL Company Limited ("Huang Shan NOVEL"), a listed company on Shenzhen Stock Exchange, since January 2016. Mr. Zhou received a Bachelor degree of Engineering (with Honours) in the field of Mechanical Engineering from Monash University in Australia in December 2010. ZHANG Ye, aged 51, is an executive Director, the vice chairman of the Board and the general manager. Mr. Zhang is primary responsible for the daily operation and management of the Group. Mr. Zhang joined the Group in April 1995, and had served as sales manager, sales director, general manager of the subsidiaries of the Company, assistant to the General Manager, deputy General Manager, etc. He also served as the chief legal consultant of the Group concurrently during the period from July 2011 to January 2016. He was appointed as an executive Director and a general manager of the Company on 22 December 2016 and 19 July 2016 respectively and currently serves as directors of certain subsidiaries of the Company. He has over 20 years of experience in the packaging industry. Mr. Zhang obtained an associate degree in physics from Shanghai Fudan University in 1995, and obtained a bachelor degree in business management from the Continuing Education School of Shanghai Fudan University in 1999. Mr. Qu Hongliang, aged 47, is an executive Director and the vice general manager (). He joined the Group in August 2000. He had successively served as head, manager and director of the procurement department and sales department of the subsidiaries of the Company. During the period from April 2020 to March 2024, he successively served as deputy general manager and general manager of the two-piece cans operation department and the business department of the Company; the deputy general manager and a member of the Party Committee of the Company. Mr. Qu has been the general manager of the Company, the deputy secretary of the Party Committee of the Company and the general manager of the two-piece cans operation department of the Company since March 2024. Mr. Qu graduated from Zhejiang University of Technology and majored in chemical engineering and technology in 2000. The Board announced that, following the aforesaid changes in the composition of the Board, the Board also resolved to change the composition of the nomination committee, the audit committee and risk management committee with effect from 21 March 2025 as follows: Mr. Zhang Ye ceased to be the chairman of the nomination committee, and Mr. Zhou Yuan has been appointed as the chairman of the nomination committee; Mr. Zhou Yuan ceased to be a member of the audit committee, and Mr. Shen Tao has been appointed as a member of the audit committee; and Mr. Shen Tao has been appointed as a member of the risk management committee following the resignation of Mr. Meng Fanjie. Upon the above changes, the compositions of the nomination committee, the audit committee and risk management committee are as follows: The nomination committee is composed with Mr. Zhou Yuan (chairman), Mr. Cheng Yuk Wo (member) and Mr. Pun Tit Shan (member); The audit committee is composed with Mr. Cheng Yuk Wo (chairman), Mr. Shen Tao (member) and Mr. Chen Jihua (member); and The risk management committee is composed with Mr. Chen Jihua (chairman), Mr. Qu Hongliang (member) and Mr. Shen Tao (member).

Announcement • Jan 23

Huarui Fengquan Development Limited Completed the acquisition of 75.6% stake in CPMC Holdings Limited (SEHK:906) from China Foods Limited (SEHK:506), Zhang Wei, Zhang Ye and Qu Hongliang in a Tender Offer transaction.

Huarui Fengquan Development Limited made an offer to acquire 75.5% stake CPMC Holdings Limited (SEHK:906) from China Foods Limited (SEHK:506), Zhang Wei, Zhang Ye and Qu Hongliang for HKD 6 billion in a tender offer transaction on June 6, 2024. Huarui Fengquan has offer to buy the shares at HKD 7.21. As of April 6, 2024, Zhang Wei holding 22.01% stake in CPMC has unconditionally and irrevocably agreed and undertaken to accept the Huarui Offer. Huarui intends to finance the consideration payable under the Huarui Offer by external financing from Shanghai Pudong Development Bank Co., Ltd. acting through its Hong Kong Branch. The transaction is subject to approval by regulatory board / committee from NDRC, MOFCOMand SAFE, approval by the shareholders of Huarui Parent, subject to antitrust regulations from SAMR and (if required) the filing with Commerce Commission of New Zealand having been completed in connection with the Huarui Offer, valid acceptances of the Huarui Offer having been received, the Shares remaining listed and traded on the Stock Exchange up to the Huarui Offer, no event having occurred or already existing which would make the Huarui Offer or the acquisition of any of the Shares void, unenforceable, illegal, impracticable or would prohibit implementation of the Huarui Offer or impose any material and adverse conditions or obligations with respect to the Huarui Offer. As of June 24, 2024, the approval by the shareholders of Huarui Parent of the loans and guarantee proposed for the financing of the Huarui Offer has been obtained and Huarui is in the process to obtain the remaining approvals for the satisfaction of the Pre-Conditions. Huarui has already made merger control filing in respect of the Huarui Offer to SAMR and the filing is currently under review by the SAMR. As of August 29, 2024, the transaction has been approved by SAMR which is without condition. As of September 24, 2024, a subsidiary of CPMC Holdings Limited received the "Enterprise Overseas Investment Certificate" issued by the Beijing Municipal Bureau of Commerce, and the overseas investment filing work with the commercial authorities. The internal and regulatory approval and filing procedures that still need to be fulfilled for this transaction. The Board of Directors of CPMC Holdings Limited formed a special committee for the transaction. If Huarui acquires not less than 90% of the Huarui Offer Shares (as required by Section 693 of the Companies Ordinance) and not less than 90% of the Disinterested Shares within the Compulsory Acquisition Entitlement Period, Huarui intends to privatize CPMC by exercising the compulsory acquisition rights. Within 21 days after the date of this joint announcement or such later date as the Executive may approve, Huarui is required to dispatch an offer document in relation to the Huarui Offer. The offer is expected to close on January 6, 2025. As of November 11, 2024, the shareholders of the Huraui Parent have approved the Huarui Offer and the transactions contemplated thereunder and Huarui has completed filing process with the NDRC in relation to the Huarui Offer. Huarui will continue to work towards the satisfaction of the only remaining item under Precondition in respect of approval from SAFE in relation to the Huarui Offer. As of December, 20, 2024, the Huarui Offer Document has been despatched to the Shareholders. The date for acceptance of the Huarui Offer on the first Huarui Offer Closing Date is scheduled on January 10, 2025. As of January 8, 2025, the offer has become unconditional in all respects. As of January 10, 2025, the valid acceptances of 417,227,593 Huarui Offer Shares received by Huarui Offer Shares have already been duly transferred to Huarui, representing approximately 37.47% of the entire issued share capital of the Company. As of January 17, 2025, Huarui had received valid acceptances in respect of 794,935,104 Huarui Offer Shares under the Huarui Offer (including 417,227,593 Huarui Offer Shares which have been transferred to Huarui), representing approximately 94.48% of the Huarui Offer Shares and approximately 71.40% of the entire issued share capital of the Company as at the date of this joint announcement. The Huarui Offer should remain open for acceptance for a period of not less than fourteen days after the Huarui Offer becomes or is declared unconditional. Accordingly, the Huarui Offer will remain open for acceptance until January 22, 2025. China Securities Corporate Finance Company Limited and Shenyin Wanguo Capital (H.K.) Limited acted as financial advisors for Huarui Fengquan Development Limited. Computershare Hong Kong Investor Services Limited is the share registrar and transfer office of CPMC. Wang Changqing, Wang Yutai, Yu Leyang and Fan Hanhan of CSC Financial Co., Ltd. (SEHK:6066) acted as the financial advisor to CPMC Holdings. Wang Ling, Zhou Ning and Fan Lingli of King & Wood Mallesons acted as the legal advisor to CPMC Holdings. Yu Qiang, Jin Gangfeng and Liu Kena of Zhonghui Certified Public Accountants (Special General Partnership) acted as the accountant to CPMC Holdings. Huarui Fengquan Development Limited Completed the acquisition of 75.6% stake in CPMC Holdings Limited (SEHK:906) from China Foods Limited (SEHK:506), Zhang Wei, Zhang Ye and Qu Hongliang in a Tender Offer transaction on January 22, 2025.

Total Shareholder Yield	n/a
Future Dividend Yield	0%
Dividend Growth	8.4%
Next dividend pay date	n/a
Ex dividend date	n/a
Dividend per share	n/a
Payout ratio	0%

Segment	Dividend Yield
Company (906)	0%
Market Bottom 25% (HK)	3.0%
Market Top 25% (HK)	7.5%
Industry Average (Packaging)	5.3%
Analyst forecast (906) (up to 3 years)	0%

Data	Last Updated (UTC time)
Company Analysis	2025/01/23 08:59
End of Day Share Price	2025/01/23 00:00
Earnings	2024/06/30
Annual Earnings	2023/12/31

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

Analyst	Institution
Zhengfu Liu	China International Capital Corporation Limited
Xiang Zhou	Everbright Securities Co. Ltd.
Moses Ma	ICBC International Research

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CPMC Holdings Dividends and Buybacks

Dividend criteria checks 0/6

Key information

Recent dividend and buyback updates

Upcoming dividend of HK$0.13 per share at 3.9% yield

CPMC Holdings Limited Announces Ordinary Interim Dividend for the Six Months Ended 30 June 2023, Payable on 25 September 2023

CPMC Holdings Limited Approves Ordinary Final Cash Dividend for the Year Ended 31 December 2022

Upcoming dividend of HK$0.11 per share at 5.7% yield

Upcoming dividend of HK$0.14 per share

CPMC Holdings Limited Declares Interim Dividend for the Six Months Ended 30 June 2022 Payable on 26 September 2022

Recent updates

CPMC Holdings Limited Announces Board and Committee Changes

Huarui Fengquan Development Limited Completed the acquisition of 75.6% stake in CPMC Holdings Limited (SEHK:906) from China Foods Limited (SEHK:506), Zhang Wei, Zhang Ye and Qu Hongliang in a Tender Offer transaction.

Less than half of directors are independent

Changping (Hangzhou) Industrial Holdings Co., Ltd. cancelled the acquisition of CPMC Holdings Limited (SEHK:906) from China Foods Limited (SEHK:506), ORG Development Limited, Hubei ORG Tinplate Printing & Can Making Co., Ltd and others.

First half 2024 earnings released: EPS: CN¥0.24 (vs CN¥0.24 in 1H 2023)

First half 2024 earnings released: EPS: CN¥0.24 (vs CN¥0.24 in 1H 2023)

CPMC Holdings Limited to Report First Half, 2024 Results on Aug 13, 2024

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Full year 2023 earnings released: EPS: CN¥0.43 (vs CN¥0.44 in FY 2022)

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Full year 2023 earnings released: EPS: CN¥0.43 (vs CN¥0.44 in FY 2022)

CPMC Holdings Limited announces Change of Composition of Independent Board Committee

CPMC Holdings Limited to Report Fiscal Year 2023 Results on Mar 20, 2024

Changping (Hangzhou) Industrial Holdings Co., Ltd. made an offer to acquire CPMC Holdings Limited (SEHK:906) for HKD 7.6 billion

The Return Trends At CPMC Holdings (HKG:906) Look Promising

First half 2023 earnings released: EPS: CN¥0.24 (vs CN¥0.24 in 1H 2022)

Upcoming dividend of HK$0.13 per share at 3.9% yield

We Think CPMC Holdings (HKG:906) Can Stay On Top Of Its Debt

CPMC Holdings Limited Announces Ordinary Interim Dividend for the Six Months Ended 30 June 2023, Payable on 25 September 2023

CPMC Holdings Limited to Report First Half, 2023 Results on Aug 22, 2023

Now 21% undervalued after recent price drop

CPMC Holdings Limited Approves Ordinary Final Cash Dividend for the Year Ended 31 December 2022

Upcoming dividend of HK$0.11 per share at 5.7% yield

CPMC Holdings' (HKG:906) Shareholders May Want To Dig Deeper Than Statutory Profit

Full year 2022 earnings: EPS and revenues miss analyst expectations

CPMC Holdings Limited to Report Fiscal Year 2022 Results on Mar 21, 2023

Return Trends At CPMC Holdings (HKG:906) Aren't Appealing

Less than half of directors are independent

CPMC Holdings (HKG:906) Takes On Some Risk With Its Use Of Debt

Upcoming dividend of HK$0.14 per share

CPMC Holdings Limited Declares Interim Dividend for the Six Months Ended 30 June 2022 Payable on 26 September 2022

First half 2022 earnings released: EPS: CN¥0.24 (vs CN¥0.22 in 1H 2021)

CPMC Holdings Limited to Report First Half, 2022 Results on Aug 23, 2022

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Upcoming dividend of HK$0.12 per share

Less than half of directors are independent

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Upcoming dividend of HK$0.14 per share

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First half 2021 earnings released: EPS CN¥0.22 (vs CN¥0.16 in 1H 2020)

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Upcoming dividend of HK$0.18 per share

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Full year 2020 earnings released: EPS CN¥0.34 (vs CN¥0.26 in FY 2019)

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New 90-day high: HK$3.85

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