Shengda Packaging advances Thailand production base with fund reallocation

Zhejiang Shengda Packaging Co., Ltd. (Shengda Packaging) announced progress on the relocation of certain raised fund investment projects to the "Thailand Packaging Carton Production Base Construction Project." The project, with an investment amount of 18,800.00 yuan, involves reallocating 17,484.20 yuan of unused raised funds and interest from the original "Pulp Molded Environmentally Friendly Tableware Intelligent R&D and Production Base Project."

The company has successfully updated the equity structure of its project entity, Shengda Technology Development (Thailand) Co., Ltd., to facilitate the project's implementation. Hainan Shengda Investment Co., Ltd., a wholly-owned subsidiary, is now the primary investor in Shengda Technology Development (Thailand) Co., Ltd., holding 99.00% of the shares, replacing Zhejiang Shengda Packaging Co., Ltd.'s previous 99.00% stake. Shengda (Hong Kong) International Co., Ltd. now holds 1.00% of the shares.

Additionally, Shengda Packaging's subsidiary, Hainan Shengda Investment Co., Ltd., has completed domestic registration, securing both a "Certificate of Enterprise Overseas Investment" from the Hainan Provincial Department of Commerce and an "Overseas Investment Project Filing Notice" from the Hainan Provincial Development and Reform Commission. The total investment for the new project is 18,799.966731 yuan. The company acknowledges potential management, operational, and market risks in Thailand and commits to transparent disclosure.