Yueyang Forest & Paper wins carbon sink project bid

Yueyang Forest & Paper Co., Ltd. (SSE:600963) announced that its wholly-owned subsidiary, Chengtong Carbon Sink Management (Hunan) Co., Ltd., has won the bid for a forestry carbon sink cooperative development project in Changning County, Yunnan Province. The project covers existing forestry land of 355.37 million mu. Chengtong Carbon Sink will be responsible for all development costs, recouping its investment through a profit-sharing model over a 20-year cooperation period. The company believes this aligns with China's "3060" carbon goals and will positively impact its carbon trading business and brand. Yueyang Forest & Paper cautioned investors about potential risks including the implementation of "Forestry Carbon Sink Project Approval and Verification Guidelines" and unforeseen circumstances.