Yueyang Forest & Paper unit wins carbon sink project

Yueyang Forest & Paper (SSE:600963) announced that its wholly-owned subsidiary, Chengtong Carbon Sink Management (Hunan) Co., Ltd., won the bid for a forestry carbon sink resource cooperative development project in Ningdu County, Jiangxi Province. The project encompasses approximately 452,790,000 square meters of forestry land and involves the development of carbon sink projects eligible under national or international standards. The development phase is projected to last until the initial listing and trading are completed, not exceeding 15 months, with a cooperation period of 20 years. Chengtong Carbon Sink will bear the development costs and operate under a profit-sharing model. Yueyang Forest & Paper anticipates the project will positively impact its operating results and enhance its market presence in the carbon sink sector. The company cautions investors that project execution is subject to potential risks and uncertainties.