Yueyang Forest & Paper approves wastewater project, equity transfer

Yueyang Forest & Paper announced the resolutions from its 43rd meeting of the 8th Board of Directors today. The board approved an investment of CNY4,967 million for a wastewater treatment and utilization project. The board also approved the transfer of 6% equity in Ningbo Chengsheng Ecological Construction Co., Ltd. held by its wholly-owned subsidiary, Chengtong Kaisheng Ecological Construction Co., Ltd. The transfer will be based on an assessed value of CNY363.43 million, corresponding to 6% of Ningbo Chengsheng's assessed net asset value as of September 30, 2024, which was CNY6,057.22 million.