Over 80% of listed forest land assets have been successfully traded, Weifang Kangxin New Materials accelerates asset structure optimization

Source: Taishan Finance

Taishan Finance Reporter Zhang Runbang

Recently, Kangxin New Materials Co., Ltd. (600076.SH, referred to as “Kangxin New Material”) has made substantial progress in optimizing asset structure and alleviating funding pressure. The reporter learned that the regional forest land assets previously publicly listed for transfer by the company’s wholly owned subsidiary, Hubei Kangxin Technology Development Co., Ltd. (hereinafter “Kangxin Technology”), have now achieved over 80% of the area sold.

In January this year, Kangxin New Material approved the “Proposal on the Transfer of Part of the Forest Land Assets of the Wholly Owned Subsidiary,” intending to publicly list and transfer forest land assets located in Shaanxi Yang County, Xixiang, Feng County, Shiquan, Liuba, and Pingli, totaling 437k acres.

It is reported that as of March 31, 2026, Kangxin Technology has officially listed 10 forest land assets, with a total listed area of 260,776.30 acres and an assessed value of 771,508,095.37 yuan.

Among them, 7 forest land assets have received transaction confirmation letters from the property rights exchange, totaling 217,562.30 acres, accounting for over 80% of the listed area, with transaction prices not lower than the listing minimum prices. Kangxin New Material stated that related transactions for the remaining listed forest land assets are also progressing in an orderly manner.

As a leading enterprise focused on “integrated forest board” as its core model and a key national forestry industrialization enterprise, the company has been strategically reserving forest land through Kangxin Technology since 2016. To date, Kangxin Technology owns approximately 1.38 million acres of forest land assets, with a book value of 437k yuan, accounting for 72% of the company’s total assets. These are mainly distributed in Hubei, Hunan, and Shaanxi regions, serving as an important resource base for the company.

Since 2022, the company’s management has actively explored diversified operations of forest land assets, involving forestry carbon sink development, under-forest planting and breeding, and forest health and wellness industries.

Kangxin New Material stated that due to the short-term difficulty in achieving scale economic benefits in these industries, coupled with the ongoing downturn in the container shipping industry in recent years and the historic lows in the container flooring market, the company faces certain financial pressures.

To ease these pressures, optimize asset structure, and reduce operating costs, the company has decided to transfer forest land assets in six regions, with a total book value of 1,203,160,860.14 yuan.

Kangxin New Material was established in September 1993, with its registered address in the High-tech Industrial Development Zone of Weifang City. It has a registered capital of 1.34 billion yuan. The legal representative is Shao Jiandong. Wuxi Construction Development Investment Co., Ltd. is the major shareholder, holding 39.16%, and the actual controller of the company is Wuxi State-owned Assets Supervision and Administration Commission.

Earlier this year, this “container flooring company” that had suffered four consecutive years of losses totaling 1.2 billion yuan announced that it would acquire Wuxi Yubang Semiconductor Technology Co., Ltd. (hereinafter “Yubang Semiconductor”) through equity transfer and capital increase using its own funds.

Shortly after the acquisition announcement, the Shanghai Stock Exchange issued an inquiry letter, raising systematic questions on four core aspects—reliability of valuation methods, asset quality and financial authenticity, cross-sector integration capability, and reasonableness of funding sources.

After three delays in response, Kangxin New Material adjusted its acquisition plan, mainly lowering Yubang Semiconductor’s valuation from 688 million yuan to 550 million yuan, saving nearly 45 million yuan in the purchase price. Recently, the Wuxi State-owned Assets Supervision and Administration Commission has approved this transaction.

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