Hengfeng Paper pays back taxes, expects profit impact

Mudanjiang Hengfeng Paper announced it has paid back taxes and late payment fees totaling CNY 2,651,860 for the period between January 2019 and December 2023, following a tax regulatory review. The company stated that relevant tax authorities have not imposed any penalties. The payment will be recorded as a current expense in 2024. Hengfeng Paper anticipates that this back tax payment will decrease its net profit attributable to shareholders by CNY 2,651,860 for the fiscal year 2024, subject to the final audited financial statements. The company made the announcement on April 2, 2025.