HENGFENG PAPER announced that the company intends to acquire 100% equity of Sichuan Fuhua Bamboo Pulp Paper Industry Group Co., Ltd. and Jin Feng Paper Industry held by Zhang Hua through the issuance of shares, with a transaction price of 268 million yuan. The issuance price is 8.37 yuan per share, and the number of shares issued is 32.0258 million shares. This transaction constitutes a related party transaction but does not constitute a major asset reorganization. Upon completion of the transaction, HENGFENG PAPER will hold 100% equity of Jin Feng Paper Industry