Qingshan Paper proposes changes to tech upgrade project

Fujian Qingshan Paper Industry (SSE:600103) is seeking shareholder approval to modify its technology upgrade project, pivoting from a planned ultra-wave pulping project to a new initiative focusing on the production of 200,000 tons of bleached sulfate bamboo pulp annually. The adjustment comes after assessing market dynamics and optimizing resource allocation. The total investment for the revised project is estimated at 393.15 million RMB, funded through self-raised capital. The company believes the shift is crucial for enhancing product quality, reducing costs, and capitalizing on the growing market for eco-friendly packaging. Qingshan Paper also seeks approval for revisions to its articles of association to reflect changes to share capital after repurchasing. Shareholders will vote on these proposals at the extraordinary general meeting on March 14, 2025.