Hengfeng Paper's acquisition review halted for data update

Mudanjiang Hengfeng Paper Co., Ltd. announced that the Shanghai Stock Exchange (SSE) has suspended its review of the company's proposed acquisition of 100% equity in Sichuan Jinfeng Paper Co., Ltd. The suspension, communicated on September 30, 2025, is due to the need for updated financial data. The audit report's financial data was benchmarked on December 31, 2024, and the company is preparing for a new interim audit to ensure data validity throughout the review period.

The company received notification of the acceptance of its application from the SSE on June 27, 2025. This temporary halt is not expected to have a significant adverse impact on the company's normal operations.

Mudanjiang Hengfeng Paper is actively working with intermediaries to complete the interim audit and update the application documents. Once these updates are finalized, the company plans to resubmit the materials to the SSE and request a resumption of the review process.