Zhongfu Straits (Pingtan) Development Company Limited
平潭发展
000592
Shenzhen Stock Exchange
Company Profile
In terms of forest business, the company has basically formed the industrial development chain of "forest-board integration", with complementary advantages. In terms of seedling cultivation, the company has realized the self-sufficiency of seedlings for its own forest production and for some sales. Its seedlings have the advantage of good seed and strong seedling, which lays a solid foundation for the company’s cultivation of timber resources. In addition, the company has four medium- and high-density fiberboard production lines with an annual capacity of more than 500,000 cubic meters, including the industry-leading 150,000-cubic-meter continuous press ultra-thin board production line and 180,000-cubic-meter Dieffenbacher continuous press MDF production line. The thickness of its products ranges from 1mm to 40mm, and the format can be customized. In terms of environmental protection level, the company’s products have passed the CARB certification for export to California, United States and the EPA certification for export to the United States. The company has won a series of honors such as "Leading Enterprise in Reform and Opening-up of China’s Wood Industry", the "China’s Top 100 Wood Enterprises", "Provincial Key Leading Enterprises in Agricultural Industrialization of Fujian Province" and "Leading Enterprises in Forestry Industrialization of Fujian Province in 2021-2023". Holding subsidiaries Longyan Zhongfu Wood Co., Ltd and Zhangzhou Zhongfu Wood Co., Ltd have been awarded titles of the Leading Enterprises in Forestry Industrialization of Fujian Province and the Provincial Key Leading Enterprises in Agricultural Industrialization of Fujian Province. Holding subsidiary Zhangzhou Zhongfu Wood Co., Ltd has won a series of honors such as "China’s Model Artificial Board in 2016 and 2017" and "Excellent Board Manufacturing Enterprise in 2018-2020", "Top Ten Fiberboard Brands in 2018-2020", "Fujian Provincial Enterprise Technology Center", "(Artificial Board) Third Prize" at the Fourth China Forestry Industry Innovation Award, etc. The Pingtan Development Wood Business Management Headquarters has set up a technology R&D center consisting of leading experts in the industry and equipped with advanced experimental instruments, which is dedicated to overcoming technical difficulties in the production process of medium-density boards and at the same time to adopting advanced concepts to develop new technology and products and lead the market trend. Based on the social responsibility goal of united economic, environmental and social benefits, the company actively participates in the innovation and development of green technology and the manufacturing and production of green products while stabilizing its existing businesses, striving to create a symbiotic relationship between environmental protection and economic development. At the same time, it constantly pursues agricultural and forestry innovations and improves its technological processes, to create a market-oriented whole industrial chain with increasing production and efficiency. In order to implement China’s national-level sustainable development strategy, the company actively practices the concept that "Green mountains are gold mountains". It combines this concept with its development strategy of steady operation of forest business and its own reality, relies on its many years of experience in tree planting and wood board manufacturing and on its strong industrial operation strength, actively invests in Juncao (mushroom grass) technology and carries out strategic cooperation with Fujian Agriculture and Forestry University National Engineering Research Center of JUNCAO Technology, Fujian Academy of Agricultural Sciences and other scientific research units and enterprises in the development of Juncao industrialization. The company has sound corporate governance structure and increasingly perfect internal control system, providing a practical guarantee for its standardized and effective operation, sustainable and healthy development, management risk control, and management quality and efficiency improvement. It also has an enterprising, active and experienced professional management team and technical backbone team, with rich industrial knowledge, professional technical strengths and efficient management ability, laying a talent foundation for its sustainable and rapid development.
Full description
Zhongfu Straits (Pingtan) Development Co., Ltd was founded in September 1993 and listed in Shenzhen Stock Exchange in March 1996 with a ticker symbol of 000592 and a stock name of "Pingtan Development" for short. By the end of2024, the total assets of the company are 3.710 billion yuan, and the net assets are 1.887 billion yuan. Its business covers a variety of industries, and its main businesses include afforestation and forest culture and management, production and sale of forest products, trade, and businesses related to the opening and development of Pingtan Comprehensive Experimental Zone. Among them, traditional main businesses represented by afforestation and forest culture and management, production and sale of forest products and trade are the lion's share of profit of the company at present. The afforestation and forest culture and management is the upstream link of the company's business operation, including seedling cultivation, tree planting and sale of forest (seedling) products, and provides green, environment-friendly and sustainable raw materials for downstream forest product processing industry through the "forest-board integration" project. The company has nearly 900,000 mu of forestry farms in Jianou and Mingxi, Fujian Province as the main business bases of traditional commercial forests such as firs and pines, with high-quality resources, orderly management and ecological consideration. Production and sale of forest products is the company’s traditional business. The main product is medium- and high-density fiberboard with a specifications of 1-40mm. The production of fiberboard is mainly made of forest wastes such as three remains and shoddy and little fuelwood, which improves the utilization rate of wood resources and is of great significance to solve the shortage of wood resources and protect the ecological environment. The company will adhere to the business principle of steadily improving its traditional main business, integrating and optimizing its industrial structure and exploiting and developing new growth points. It will maintain the steady operation of forest business as its traditional main business, and tap the business potential and improve the economic benefits by strengthening its internal management, adjusting its product structure, improving and innovating in its technologies and actively striving for various financial and tax subsidies; it will continuously integrate its resources, shrink, adjust and dispose of non-main items and concentrate on developing the main business; it will also constantly explore and innovate in the upstream and downstream of the industrial chain, cooperate with scientific research experts and excellent teams, invest in projects conducive to its long-term development and be committed to promoting its sustainable and high-quality development.