Hengfeng Paper gets approval for asset acquisition via share issue

Mudanjiang Hengfeng Paper (SSE:600356) announced it has received approval from its indirect controlling shareholder, Heilongjiang New Industry Investment Group Co., Ltd., for its plan to acquire 100% equity in Sichuan Jinful Paper Co., Ltd. This acquisition will be executed through the issuance of shares. The proposed transaction does not constitute a major asset restructuring as defined by regulations and will not result in a change of the company's actual controller, nor does it constitute a backdoor listing. Further approvals are needed including shareholder approval and regulatory clearances. Investors are advised to exercise caution and refer to official announcements for further details.