Company News

l Shanying Paper plans to reduce the amount of convertible bonds from less than 2.656 billion RMB to less than 1.86 billion RMB. After the adjustment, 780 million RMB will be used for the paper waste comprehensive utilization project of Aituo Environmental Protection Energy (Zhejiang) Co., Ltd., 400 million RMB for the solid waste comprehensive utilization project of the Industrial Park of Yangjiachang town, Gong 'an county, and 680 million RMB for the power generation project of Shanying International Holding Corporation.
l July 10, Sinar Mas Group Rudong High-End Household Paper Industrial Base was officially launched. The total investment of the industrial base is 45 billion RMB, the production land is 8500 mu, and the high-end household paper production capacity will be 3.96 million tons/year. The first phase is designed to annually produce 780,000 tons of high-end household paper and paper towels of "Qingfeng", "Boliya" and other brands with an investment of nearly 10 billion RMB, and is expected to be put into production in 2021.
l Sun Paper announced on July 11 that it intends to invest 2.016 billion RMB in the construction of a 450,000 ton characteristic cultural paper project in Yanzhou, Shandong province, with the construction period of 18 months.
l On July 24, Shandong Huatai Paper and Finland Stora Enso signed the "equity transfer agreement", in which Huatai Paper intends to acquire the 60% equity of Shandong Stora Enso Huatai Paper held by Stora Enso Publication Papers Oy Ltd. and all rights and obligations related to it. The purchase price of the equity is 1 RMB.
l On July 27, China Runda Wood Industry invested 17 million RMB in the construction of a timber processing plant in Ussuriysk, Russia.
l Recently, DeHua TB New Decoration Material Co., Ltd. (Tubaobao) and Qingdao Yufeng Hantang Wood Industry and its actual controller QI Yong signed the "purchase intention agreement." Tubaobao plans to spend 700 million RMB to purchase 70% of Qingdao Yufeng Hantang’s shares held by QI Yong and other shareholders. Qingdao Yufeng Hantang is mainly engaged in providing one-stop professional solutions for the design, production and installation of wood products for the real estate decoration business.