Credit Insurance Global Holdings (00723) signed a cooperation agreement with Guangxi Fenglin (601996.SH) to jointly develop the EU wood board and related products market

Zhitong Finance App News, Credit Insurance Global Holdings (00723) announced that Huitong Resources International Co., Ltd. (Huitong Resources), an indirect wholly-owned subsidiary of the Company, signed a cooperation agreement with Guangxi Fenglin Wood Industry Group Co., Ltd. (Guangxi Fenglin) (601996.SH) on December 22, 2025.

The purpose of this cooperation agreement is to: (1) jointly develop the EU wood board and related product market to enhance the market share and brand influence of the two sides in the EU; (2) establish an efficient EU sales and service network to provide customers with high-quality products and services; (3) explore deeper industrial cooperation, including but not limited to establishing sales points, product distribution, supply chain integration, and the possibility of future joint venture construction plants.

Guangxi Fenglin authorized Huitong Resources and/or its group's affiliates to act as its regional agent for wood board products in Romania, Serbia, Croatia, Germany, France and Italy within the European Union. This cooperation agreement is effective for one year from the date of signing, and can be automatically renewed for one year after each agreement expires, unless any party objects.

The board of directors believes that the signing of the cooperation agreement is in line with the Group's business goals and will further promote the development of the Group's timber supply chain business, thereby creating opportunities for the Group's long-term development. The board of directors also believes that the agency rights of Guangxi Fenglin Products in relevant regions can bring additional revenue to the Group and create synergy effects and development opportunities with the Group's existing business, thereby further expanding and deepening the Group's business scope in the EU market.