Yueyang Forest & Paper (600963.SH) wholly-owned subsidiary wins bid for HanCheng City forestry carbon sequestration resource cooperation and development project.

Yueyang Forest & Paper (600963.SH) announced that its wholly-owned subsidiary Chengtong Carbon Sequestration Operation and Management (Hunan) Co., Ltd. ("Chengtong Carbon Sequestration") received the bid-winning notice for the Han city forestry carbon sink resource cooperation and development project on September 20, 2024, becoming the winning unit of the project. It is reported that the project development scope covers approximately 1.2 million mu of existing forestry land in Han city. The project development scope includes all forestry lands in the city that meet national policy requirements and can be used for declaring forestry carbon sink projects under the China Certified Emission Reduction (CCER) or other international voluntary emission reduction (VER) mechanisms (including various types of forestry lands involved in afforestation and forest management projects), with the specific area and scope subject to the final confirmed data for application. The project application period does not exceed 12 months, and the cooperation and development period is 20 years.