Great Shengda Packaging shifts investments to Thailand, expands high-end liquor segment

Zhejiang Great Shengda Packaging has announced a strategic shift in its investment strategy for the first half of 2025. The company will reallocate unused proceeds and interest of RMB 17,484.20 from the "Pulp Molded Eco-Friendly Tableware Intelligent R&D and Production Base Project" to a new "Thailand Packaging Carton Production Base Project." This decision, approved by the board of directors and supervisors and an extraordinary general meeting, comes after market changes, including US anti-dumping and countervailing duties, impacted the eco-friendly tableware project's profitability. The original project's two-phase development has been put on hold to avoid idle capacity.

In other reallocations, the "Paper Packaging Product Project with Annual Output of 300 Million Square Meters" had its unused proceeds of RMB 22,862.13 and interest directed toward the acquisition of 60% equity in Sichuan Dashengda Zhongfei Packaging Technology Co., Ltd. This move aimed to enhance the company's business scale and profitability by entering the high-end liquor packaging segment. Separately, the "Guizhou Renhuai Baisheng Intelligent Paper Box Production Base Project" has been extended to December 2025.