Yongan Forestry sees ownership shift as entrustment ends

Fujian Yongan Forestry Group Joint-Stock Company announced a change in equity ownership after terminating a voting rights entrustment agreement. The agreement, signed March 26, 2024, between Yongan City Finance Bureau and Yongan City Yuanxing Caoyuan Town Construction Co., Ltd., saw Yuanxing Construction entrust 12,611,300 shares (3.75% of total share capital) to the Finance Bureau. The termination, effective November 24, 2025, reverses this arrangement.

As a result, Yongan City Finance Bureau's exercisable voting rights have decreased from 26,160,865 shares (7.77%) to 13,549,565 shares (4.02%). Conversely, Yuanxing Construction’s exercisable voting rights increased from 0 to 12,611,300 shares (3.75%). This adjustment means the two entities no longer form a concerted action group and their combined holdings are no longer consolidated.

The company emphasized that this equity change does not involve the transfer of state-owned assets and will not alter the controlling shareholder or actual controller of Fujian Yongan Forestry Group Joint-Stock Company. The decision to terminate was made through friendly negotiation, driven by the operational development needs of both parties.