On December 22|Fenglin Group (601996.SH) announced that according to the strategic needs of the company's innovation and development, Guangxi Fenglin Technology Co., Ltd. (“Fenglin Technology” for short) will be further established on the basis of the “Nanning Green Home Industry Technology Innovation Center” project jointly declared by the company, Guangxi University and Zhongnan University of Forestry and Technology in order to further seek science and technology policy support, innovate business development paths, and vigorously enhance the brand influence and comprehensive strength of leading forest enterprises, to further establish Guangxi Fenglin Technology Co., Ltd. (“Fenglin Technology” for short) to undertake functions related to technological innovation in the green home industry. It is proposed to establish Fenglin Technology with a registered capital of 10 million yuan, and Fenglin Group, Guangxi University, and Zhongnan University of Forestry and Technology respectively pledge investment of RMB 90 million in currency (90% shareholding ratio), 5 million yuan (5% shareholding ratio), and 5 million yuan (5% shareholding ratio).
Fenglin Group, Guangxi University and Zhongnan University of Forestry and Technology agreed to establish Fenglin Technology as a project cooperation unit to focus on the green home industry in Nanning, using existing technological conditions and technology development capabilities to jointly build a modern home industry innovation platform integrating forest improvement, product development, pilot promotion, achievement transformation and industrialization, talent training and technical services in the modern home furnishing industry, combining Guangxi's existing forestry, timber industry and home furnishing industry technology, with the purpose of industry technology integration and innovation, industry-university-research and engineering, to solve high-value timber processing and green home products Common bottlenecks and technical issues in engineered intelligent manufacturing help Nanning enhance its economic development strength.