Shengda Forestry revises governance, appoints new independent director amid strong financial growth

Sichuan Shengda Forestry Industry has revised its corporate governance documents, including its Articles of Association, due to updated legal and regulatory requirements. These revisions, approved by the board, transfer supervisory committee functions to the board's audit committee. The changes are subject to shareholder approval and market regulator review. Concurrently, the company announced the resignation of independent director Wang Didian and the nomination of You Xinqan as his successor. You Xinqan, a certified public accountant, is awaiting approval from the Shenzhen Stock Exchange and will serve on the audit, remuneration and assessment, and nomination committees if elected.

The company's semi-annual report for 2025 shows operating revenue of CNY 467,305,103.86 and a net profit attributable to shareholders of CNY 14,066,613.75, representing increases of 78.26% and 132.41%, respectively, over the previous year. This performance is largely driven by LNG contract processing, production, and sales. A report on the use of raised funds indicated that CNY 10,004.64 million of the total CNY 74,533.14 million raised has been judicially frozen, with CNY 33.97 million frozen in the first half of 2025. The company will not distribute cash dividends, bonus shares, or convert capital reserves into share capital.