Yueyang Forest & Paper subsidiary wins major Xinjiang carbon sink project

Chengtong Tan Hui, a wholly-owned subsidiary of Yueyang Forest & Paper Co., Ltd., has been selected as the winning bidder for the Xinjiang Tacheng Region Agricultural, Forestry, and Grassland Carbon Sink Resource Cooperative Development Project. The project encompasses carbon sink resource development across approximately 17.6343m mu of existing forest land, 16.6088m mu of cultivated land, and 9.46962m mu of grassland in the Tacheng region.

Project development is scheduled to be completed within 24 months from the signing of the cooperation agreement, with an initial cooperation period of 20 years. Chengtong Tan Hui will bear the development costs, and the project will operate on a profit-sharing model. This initiative is expected to positively impact Yueyang Forest & Paper's operating performance and enhance its influence in the carbon sink market.

The company emphasizes that while the project's success is anticipated, implementation is subject to potential risks, including force majeure events, and investors are advised to exercise caution.