Yibin Paper to pay CNY 32.8m for Pushi transition profit

Yibin Paper Industry (SSE:600793) has announced the results of the transitional period profit and loss audit following its acquisition of a 67% stake in Sichuan Pushi Cellulose Acetate Co., Ltd. The audit, conducted by Da Xin Certified Public Accountants Sichuan Branch, covered the period from August 1, 2024, to December 25, 2024. The audit revealed that Sichuan Pushi Cellulose Acetate generated a profit of CNH 48,922,752.55 during the transition. According to the equity transfer agreement, Yibin Paper Industry is required to pay Sichuan Pushi Group, the seller, CNH 32,778,244.21 representing its 67% share of the profit for the transitional period.