Qingshan Paper: Parent company Fujian Light Textile restructuring

Fujian Qingshan Paper Industry (SSE:600103) announced today that its controlling shareholder, Fujian Light Textile (Holdings) Limited, will be restructured as part of a broader initiative by the Fujian Provincial Government. According to the announcement, Fujian Light Textile will be incorporated into the newly formed Fujian Provincial Industrial Control Group ("Provincial Industrial Control Group"), a state-owned enterprise managed directly by the Fujian Provincial State-owned Assets Supervision and Administration Commission. The commission's holdings in Fujian Light Textile equity will be transferred to the Provincial Industrial Control Group, with Fujian Light Textile becoming a subsidiary of the new entity. Qingshan Paper emphasized that the restructuring will not materially impact the company's operations, and that the ultimate controlling party will remain unchanged. The company will continue to disclose information as the restructuring progresses, in compliance with relevant regulations.