Fujian Qingshan Paper subsidiary wins favorable forestry contract dispute

Fujian Qingshan Paper Industry Co., Ltd. announced that its controlled subsidiary, Fujian Taining Qingshan Forest Farm Co., Ltd., received a final civil judgment from the Fujian Provincial Higher People's Court. This judgment resolves a forestry contract dispute with Nanping Jianyang Shifeng Wood Industry Co., Ltd. and overturns previous rulings.

The court ordered Shifeng Wood Industry to pay Taining Forest Farm outstanding contract fees of 3,834,486.90 yuan plus interest of 394,854.31 yuan (calculated until July 31, 2018, at an annual rate of 4.35%). Taining Forest Farm is also ordered to compensate Shifeng Wood Industry 2,501,740 yuan. All other claims and counterclaims from both parties were dismissed.

This final judgment is not expected to have a negative impact on the company's current and future profits. The case will now proceed to enforcement.