Following the successful development of New Zealand log import operations in January, our group welcomed the arrival of a vessel carrying over 30,000 cubic meters of New Zealand Radiata Pine, known as “Angelus”, at Rizhao Lanshan Port in May. This marks our group’s first import of New Zealand logs, opening a new chapter for our log business.

The shipment primarily includes products such as knot-free timber, engineered wood, construction lumber, and pulp wood, focusing on furniture and decoration applications. In response to domestic market conditions, we have intentionally reduced the supply of construction timber. Shenghua Company locked in exchange rates in advance through foreign currency transactions, enabling all goods to be sold within two days of arrival, thus securing quick profits. The entire shipment is expected to be cleared within 15 days to facilitate rapid downstream operations. This streamlined approach to log operations aligns with the group’s strategic adjustments established at the beginning of the year.

Given the current market landscape, the successful operation of our first shipment of New Zealand logs draws on lessons learned from previous years of log imports. We are also fortunate to have the continued support and trust from the group. Moving forward, we will maintain steady progress and orderly development, aiming to achieve our operational goals and establish a competitive advantage within the industry, thereby laying a solid foundation for long-term business growth.