Yueyang Forest & Paper appoints new chairman, invests in operations

Yueyang Forest & Paper Co., Ltd. held its forty-seventh meeting of the eighth board of directors on November 11, 2025. During the meeting, Liu Yan was elected as the new chairman of the eighth board of directors and appointed as the chairman of the strategic development committee. Additionally, the board approved the gratuitous transfer of 100% equity of Hunan Juntai Biomass Power Generation Co., Ltd. to the company, making it a wholly-owned subsidiary to enhance industrial synergy.

The board also approved an investment of CNY 89.60 million for the construction of a chemical pulp washing and screening renovation project. Concurrently, the company held its 2025 third interim shareholders' meeting on the same day, which approved the re-engagement of Tianjian Certified Public Accountants (Special General Partnership) as the financial and internal control audit institution for 2025 and projected related party transactions for 2026.

These resolutions, encompassing leadership changes, operational streamlining, and investment in key projects, signify a proactive approach to corporate governance and future development. The decisions were made with overwhelming approval from both the board and shareholders.