Yongan Forestry (000663.SZ) announced that the company will hold the 10th board meeting on December 29, 2023...
According to Zhitong Finance App, Yongan Forestry (000663.SZ) issued an announcement. The company held the 5th meeting of the 10th board of directors and the 4th meeting of the 10th board of supervisors on December 29, 2023 to review and pass the “Proposal on Suspending the Construction of Biomass Energy Recycling Projects”. As of the disclosure date of this announcement, the company has completed the industrial and commercial registration procedures of Zhonglin (Xiong'an) Bioenergy Technology Group Co., Ltd. and obtained “business licenses” for the five project companies; it has invested 544 million yuan in construction capital, mainly for land purchase expenses, project construction expenses, equipment procurement and advance payments, and other upfront project expenses.
The company said that in 2022, in order to seek transformation and development, the company began exploring comprehensive agricultural and forestry waste utilization projects, experimenting with dry anaerobic fermentation technology, and investing in biomass energy recycling projects. Due to the recent frequent severe weather such as cold waves and heavy snow, the project implementation site was unable to be effectively constructed. At the same time, in line with the company's indirect controlling shareholders' investment project audit and evaluation needs, the company made careful decisions to suspend the construction of biomass energy recycling projects in order to do a good job in the investment management of major projects.
The suspension of the construction of the biomass energy recycling project is a prudent decision made by the company based on objective circumstances. It does not involve changes in project investors, investment locations, or main investment details, and does not involve adjustments in the total investment amount or construction scale of the project; currently, each project is still under construction, will not produce economic benefits, and will not have a significant impact on the company's 2023 performance. It is expected that construction of this project will be suspended for no more than 2 months.