
Rongcheng, a major industrial paper manufacturer, held an extraordinary meeting of shareholders today and passed a resolution related to the company's transformation into an investment holding company. In the future, the group's resources will be integrated through an investment holding structure.
AI-generated summary
Rongcheng, a major industrial paper manufacturer, passed the resolution on transforming into an investment holding company at this extraordinary shareholder meeting.
Rongcheng held an extraordinary meeting of shareholders today and passed proposals related to the company's transformation into an investment holding company.
Chairman Zheng Yingbin said that in the future, the investment holding structure will be used to integrate the group's resources, strengthen the professional division of labor and operating efficiency of each business unit, and help the group to strengthen the group's long-term growth momentum through the introduction of strategic partners, international mergers and acquisitions and other capital market layouts in the future.
According to the resolution of this extraordinary shareholders' meeting, Rongcheng will be transformed into an investment holding company through splitting. Taiwan's industrial paper and carton-related operations will be taken over by its 100%-owned subsidiary Rongcheng Low Carbon Carton Co., Ltd.; Rongcheng will be transformed into "Rongcheng Investment Holdings Co., Ltd.", referred to as "Rongcheng Investment Holdings", and will be responsible for the group's overall strategic planning, resource allocation, investment management and capital operations. After the subdivision is completed, Rongcheng Investment Holdings will still maintain its qualifications as a listed company, and its stock code 1909 will remain unchanged.
Rongcheng explained that this transformation is an organizational structure adjustment and will not affect the group's overall shareholder rights and business direction. In the future, Taiwan, China and overseas businesses will be professionally divided according to regional and industrial characteristics. Each business unit can focus more on market development, technology upgrading and operational management, further improving operating efficiency and decision-making flexibility.

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