Hengfeng Paper Industry: intends to acquire 100% equity of Jinfeng Paper Industry.

Hengfeng Paper Industry Announcement: The company plans to acquire Sichuan Fuhua Bamboo Pulp and Paper Industry Group Limited and 100% equity of Jinfeng Paper Industry held by Zhang Hua by issuing shares, with a transaction price of 268 million yuan. The issue price is 8.37 yuan per share, with a total issuance of 32.0258 million shares. This transaction qualifies as a related party transaction but not a major asset restructuring. After the transaction is completed, Hengfeng Paper Industry will hold 100% equity of Jinfeng Paper Industry.