China Paper Investment Co., Ltd. signed the share transfer agreement to acquire 39.51% stake in Hunan Shuangyang Hi-Tech Chemical Co., Ltd. from Yueyang Forest & Paper Co., Ltd. (SHSE:600963) on October 8, 2023. The transaction was approved by board of Yueyang Forest & Paper and China Chengtong Holdings Group Ltd. Hunan Shuangyang Hi-Tech Chemical reported total assets of CNY 489.7632 million and net assets of CNY 254.7048 million as at August 31, 2023.