Yongan Forestry reports FY24 loss, halts projects, changes accounting policy

** Fujian Yongan Forestry Group Joint-Stock Co., Ltd. (SZSE:000663) reported a CNY 85.04 million loss for FY24, a stark contrast to the CNY 190.03 million profit in the previous year. This downturn is attributed to a reduction in timber asset transfers and a decline in associated profits. The company, while detailing its preliminary financial results for the year ending December 31, 2024, announced a plan to discontinue investments in biomass energy projects due to various challenges. Additionally, certain executives left the company: Deputy General Manager Qiu Xiaoming resigned.