Dec 21, 2005. /Lesprom Network/. Shandong Chenming Paper Holdings Ltd said its new largest shareholder will be Shouguang Chenming Paper Co Ltd. The current largest shareholder is Shouguang State Assets bureau. In a statement filed to the Shenzhen Stock Exchange, the holding company said Shouguang Chenming Paper Co Ltd will be set up with the Shouguang bureau using the bureau's shares in Chenming Paper Holdings worth CNY 1.78 billion ($220 million), and CNY 409 million ($50.6 million) in cash from three local companies.