China Sunshine Paper revises connected transaction agreements, expands scope

On October 24, 2025, China Sunshine Paper Holdings entered into supplemental purchase and sales framework agreements with Xiamen C&D, a substantial shareholder. The supplemental purchase framework agreement, effective after necessary approvals, broadens the range of materials Ramble Paper Group can purchase from Xiamen C&D Group to include coal and chemical auxiliary materials, in addition to wood pulp and packaging paper. This revision also increases the purchase annual cap for the financial year ending December 31, 2025, from RMB426.8m to RMB490.4m, and for 2026, from RMB714.7m to RMB1,096.4m.

Concurrently, the supplemental sales framework agreement, also effective upon approvals, revises the annual caps for packaging paper products sold by Century Sunshine Group to Xiamen C&D Group. For the financial year ending December 31, 2025, the sales annual cap will increase from RMB590.1m to RMB682m. For 2026, the cap will rise from RMB657.2m to RMB851m. These transactions are classified as continuing connected transactions under Chapter 14A of the Listing Rules, necessitating Independent Shareholders' approval due to applicable percentage ratios exceeding 5%.

The company will convene an Extraordinary General Meeting (EGM) to seek approval for these supplemental agreements and the revised annual caps. An Independent Board Committee will be formed to advise shareholders on the fairness and reasonableness of the terms. A circular containing details, recommendations, and EGM notice is expected to be dispatched by November 20, 2025.