Wuhan Yuanfeng Yinhu Industrial Investment Partnership (Limited Partnership) agreed to acquire 65.21% stake in Wuhan Chenming Hanyang Paper Holdings Co. Ltd. from Shandong Chenming Paper Holdings Limited (SZSE:000488) for approximately CNY 400 million on September 8, 2023. Wuhan Chenming Hanyang Paper Holdings Co.

Ltd. reported Total assets worth CNY 1.3 billion and Total common equity of CNY 378.4 million in July 31, 2023. Transaction was approved by Shandong Chenming Paper Holdings board of director's in its tenth extraordinary meeting held on September 8, 2023.