Fujian Yongan Forestry (000663.SZ) subsidiary plans to implement the Fujian Putian National Reserve Forest Construction Project (Phase I).

Fujian Yongan Forestry (000663.SZ) announced that its wholly-owned subsidiary Zhonglin (Putian) Forestry Development Co., Ltd. plans to carry out the National Reserve Forest project construction in Putian City, Fujian Province. The planned construction scale is 150,000 mu, and the project will be implemented in phases based on practical considerations. The board of directors has approved the resolution on carrying out the Fujian Putian National Reserve Forest Construction Project (Phase I). The Phase I project of Fujian Putian National Reserve Forest Construction Project has a calculation period of 30 years, including an 8-year construction period from 2025 to 2032 and a 22-year operation period from 2033 to 2054. The estimated total investment for the project is 154 million yuan. The construction scale of Phase I is 25,100 mu, with 14,992 mu of short-term small diameter timber forest area completed at the end of the construction period, 3,476 mu of medium-term medium diameter timber forest area, 2,736 mu of medium to long-term large diameter timber forest area, and 3,906 mu of mixed forest area with valuable tree species; capable of producing 864,500 m3 of wood, with a reserve volume of 161,500 m3 of standing timber at the end of the construction period, and an annual carbon storage of 7,000 tons. The announcement stated that by advancing the implementation of the National Reserve Forest project with high standards, the company can adjust its existing forest resource structure, continuously strengthen the foundation of forestry green assets, effectively promote resource increment, operational efficiency improvement, and project revenue increase, optimize resource allocation, and provide solid resource support for the company's "forest-panel integration" strategic layout.