Intending to suspend two production lines of a subsidiary company? Guanhao High-Tech responds

On the evening of January 23, Guanhao High-tech announced its intention to shut down the BM1 and BM2 production lines of its holding subsidiary, Zhuhai Red Tower Renheng Packaging Co., Ltd. Recently, a person in charge of Guanhao High-tech replied to a reporter from the Shanghai Securities News, stating that the planned shutdown of production capacity was once the "industry benchmark" for domestic white chip paper. With industry capacity expanding far greater than demand growth, combined with equipment being "old and small", high operating costs, and other weaknesses in the industrial chain, the planned shutdown of the production lines has led to continuous losses and dragged down the company's performance. While ensuring the security of customer supply chains, the company is actively implementing the "insist on high-quality development" requirement proposed in the national "Fifteen-Five" plan, breaking through the "roll" to new, stable growth, and taking a crucial step towards the company's moderate scale, green high-end pulp and paper industry strategy landing with high quality and efficiency.