Core Insights - The establishment of industry alliances in Yuncheng County aims to promote innovation-led industrial transformation and upgrade, creating a new ecosystem for industrial development that emphasizes government guidance, enterprise leadership, and collaborative win-win scenarios [1] Group 1: Industry Alliances - The newly formed alliances consist of four major industries: textile and apparel, wood processing, packaging and printing, and electromechanical equipment manufacturing, which are the backbone of Yuncheng County's economy [1] - The first batch of 39 benchmark enterprises has joined the alliance, including 10 in packaging and printing, 14 in textile and apparel, 6 in wood processing, and 9 in electromechanical equipment manufacturing [1] Group 2: Challenges and Solutions - Member enterprises face challenges such as intensified market competition, resource fragmentation, insufficient innovation capabilities, and poor information flow, which hinder overall industry improvement [1] - The alliance provides a platform for collaborative innovation and resource sharing, enabling enterprises to tackle key technological challenges and market competition collectively [2] Group 3: Economic Benefits - Alliance members will benefit from preferential support in areas such as market expansion, financial assistance, and project applications, in addition to enjoying the advantages of the "Twenty Measures to Assist Enterprises" policy [2] - The alliance aims to reduce raw material costs through centralized procurement and enhance operational efficiency by sharing order resources, thereby allowing enterprises to focus on core operations [2] Group 4: Industry Overview - Yuncheng County has 305 textile and apparel enterprises, with 179 being above-scale, and has developed key enterprises recognized at the provincial level [2] - The county's electromechanical equipment manufacturing sector includes over 200 enterprises, with 56 above-scale, covering various fields such as trailers and mining machinery [2] - There are 535 packaging and printing enterprises, with 31 above-scale, contributing to a full production chain from bottles to packaging, supporting nearly 100,000 jobs [2] - The wood processing industry consists of 998 enterprises, with 122 above-scale, making it a significant base for board processing in the region [2]

Group 1 - A new company, Shaoguan Minqixuan Wood Industry Co., Ltd., has been established with a registered capital of 300,000 RMB [1] - The company's business scope includes wood processing, manufacturing and sales of engineered wood, bamboo and wood chip processing, forest management, afforestation, and sales of forestry products [1] - The company is authorized to conduct business activities independently based on its business license, except for projects that require legal approval [1]

Core Insights - A new company, Bazhong Qiyao Timber Co., Ltd., has been established with a registered capital of 100,000 RMB [1] Company Overview - The legal representative of the company is Wu Longli [1] - The business scope includes general projects such as timber processing, timber acquisition, timber sales, and processing of building timber and components [1] - The company is also involved in non-edible forest product processing, labor services (excluding labor dispatch), engineering management services, and sales of building materials and hardware products [1] Licensing and Regulatory Compliance - The company has licensed projects that include timber harvesting and transportation, construction labor subcontracting, construction engineering, and road freight transportation (excluding hazardous goods) [1] - Activities requiring approval must be conducted only after obtaining the necessary permits from relevant authorities [1] - The company is subject to special management measures as stipulated by national regulations [1]

Interfor Investment Highlights - Interfor is a top three softwood lumber producer in North America with 28 strategically located facilities[6] - The company has high exposure to the US South and Eastern Canada with attractive log costs[6] - Interfor has top quartile EBITDA margins and returns on capital employed through the cycle[6] - As of October 1, 2025, Interfor had approximately $386 million of liquidity[6] Market and Operations - Softwood lumber accounted for 81% of Interfor's $3 billion in 2024 revenues[18] - Approximately 75% of Interfor's sales volumes are not exposed to lumber duties or tariffs[19] - Interfor has 47 billion board feet of lumber production capacity, with 50% in the US South, 23% in Eastern Canada, 16% in BC Interior and 12% in US Northwest[26] Lumber Market Fundamentals - Repair & Remodel accounts for 38%, New Home Construction 32%, and Industrial/Commercial/Other 30% of North American lumber demand[35] - Since 2016, nearly 54% of BC industry capacity has been curtailed due to declining log supply[45] - Approximately 25% of Interfor's shipments are exposed to duties[48]

Core Viewpoint - A new individual business, Shiping County Guohua Wood Processing Operation, has been established, focusing on wood processing and sales, indicating growth in the local wood industry [1] Company Summary - The business is registered with a capital of 50,000 RMB, reflecting a modest investment in the wood processing sector [1] - The legal representative of the company is Pu Chunli, indicating a local entrepreneur's involvement in the industry [1] Industry Summary - The company operates under licensed projects for wood harvesting, which requires approval from relevant authorities, highlighting regulatory considerations in the wood industry [1] - General operations include wood processing, sales, and procurement, suggesting a comprehensive approach to the wood supply chain [1]

Core Viewpoint - Sichuan Quanhua Timber Co., Ltd. has been established with a registered capital of 300,000 RMB, focusing on various timber and agricultural-related activities [1] Company Summary - The legal representative of Sichuan Quanhua Timber Co., Ltd. is Tang Quanhua [1] - The company’s registered capital is 300,000 RMB [1] - The business scope includes timber processing, timber acquisition, bamboo and wood chip processing, and sales of construction materials [1] Industry Summary - The company operates in the timber and agricultural sectors, engaging in activities such as livestock sales, edible fungus cultivation, and vegetable planting [1] - It also involves wholesale and retail of fresh vegetables and edible agricultural products [1] - The company is subject to specific licensing requirements for poultry and livestock farming, which must be approved by relevant authorities [1]

Core Viewpoint - Sichuan Anqu Cheng Wood Industry Co., Ltd. has been established with a registered capital of 1 million RMB, focusing on various wood processing and related services [1] Company Overview - The legal representative of the company is Zhou Shaoyang [1] - The registered capital is 1 million RMB [1] Business Scope - The company engages in general projects including wood processing, technical services, and technology transfer [1] - It also involves forest cultivation, wood sales, and forestry product sales [1] - Additional activities include landscaping engineering, urban greening management, and sales of horticultural products [1] - The company is authorized to conduct hazardous goods transportation and construction engineering design, subject to approval [1]

Core Insights - The report by Zhiyan Consulting forecasts the competitive landscape and investment scale of the wood processing industry in China from 2025 to 2031 [1] Import Data Summary - In September 2025, China's sawn timber imports amounted to 2.11 million cubic meters, representing a year-on-year decrease of 3.8% [1] - The import value for the same period was $56 million, reflecting a year-on-year decline of 1.4% [1] Company Profile - Zhiyan Consulting is recognized as a leading industry consulting firm in China, specializing in in-depth industry research, business plans, feasibility studies, and customized services [1] - The company has over a decade of experience in the industry research field, providing comprehensive industry solutions to empower investment decisions [1]

Report Summary 1. Report Industry Investment Rating No investment rating information is provided in the report. 2. Core Viewpoints - The spot prices of mainstream radiata pine products in Shandong and Jiangsu remained stable this week. European spruce and fir in the Jiangsu market are still in short supply [4]. - As of October 26, there were 40 ships departing from New Zealand in October, with 32 bound for mainland China. It is estimated that 1770,000 cubic meters of logs will arrive in October [5][8]. - As of the week of October 24, the daily average shipment volume of Lanshan Port and Taicang Port increased. The total inventory of the four major ports decreased by 29,200 cubic meters compared with the previous week [14]. - As of the week of November 2, the Baltic Dry Index (BDI) decreased by 0.4%, the Handysize Shipping Index (BHSI) decreased by 2.6%, and the Shanghai Export Containerized Freight Index (SCFI) increased by 10.5%. The US dollar index recovered moderately this week, with the US dollar to RMB exchange rate down 0.1% week - on - week and the US dollar to New Zealand dollar exchange rate up 0.4% [6][51]. 3. Summary by Directory Supply - **New Zealand Log Shipping Schedule Data**: As of October 26, 40 ships departed from New Zealand in October, 32 to mainland China and 8 to Taiwan, China and South Korea for lightering. About 20 ships are expected to arrive in October and 20 in November. The estimated arrival volume in October is 1.77 million cubic meters [5][8]. - **Detailed Ship Information**: The report provides detailed information on 40 ships departing from New Zealand in October, including departure time, load capacity, current port, expected destination port, and expected arrival time [10]. Demand and Inventory - **Domestic Main Port Inventory and Daily Shipment Volume**: As of the week of October 24, Lanshan Port's daily average shipment volume was 23,900 cubic meters (week - on - week increase of 2,100 cubic meters), and Taicang Port's was 12,200 cubic meters (week - on - week increase of 3,100 cubic meters). In terms of port inventory, Lanshan Port's inventory was about 1.2438 million cubic meters (week - on - week increase of 10,000 cubic meters), Taicang Port's was about 351,900 cubic meters (week - on - week decrease of 40,900 cubic meters), Xinminzhou Port's was about 350,800 cubic meters (week - on - week decrease of 22,800 cubic meters), and Jiangdu Port's was about 143,000 cubic meters (week - on - week increase of 24,500 cubic meters). The total inventory of the four major ports was 2.0895 million cubic meters, a decrease of 29,200 cubic meters compared with the previous week [14]. Market Trends - **Futures Contract Price Trends**: As of October 31, the closing price of the main contract LG2511 was 787.5 yuan per cubic meter, a decrease of 5.0% from the previous week. The backwardation spread widened significantly this week [19]. - **Spot Price and Spread**: The spot prices of various specifications of radiata pine in Shandong and Jiangsu remained stable. The report also presents the regional spreads between Shandong and Jiangsu for different tree species and specifications, as well as the spreads between different tree species and specifications [22][23]. Other - **Other Price Influencing Factors**: As of the week of November 2, the Baltic Dry Index (BDI) was 1983.00 points, a decrease of 8 points (- 0.4%) from the previous week; the Handysize Shipping Index (BHSI) was 855 points, a decrease of 2.6% from the previous week; the Shanghai Export Containerized Freight Index (SCFI) was 1550.70 points, an increase of 10.5% from the previous week. In terms of exchange rates, the US dollar index recovered moderately this week, with the US dollar to RMB exchange rate at 7.118, a week - on - week decrease of 0.1%, and the US dollar to New Zealand dollar exchange rate up 0.4% to 1.747 [6][51].

Core Points - A new individual business named Yichun City Yuanzhou District Huitian Town Zhongfeng Wood Processing Factory has been established with a registered capital of 50,000 RMB [1] - The legal representative of the business is Zhong Sheng [1] - The business scope includes road cargo transportation (excluding hazardous goods), wood processing, wood acquisition, wood sales, sales of building decoration materials, retail of hardware products, sales of building materials, and information consulting services [1] Business Scope - Licensed projects include road cargo transportation, which requires approval from relevant authorities [1] - General projects encompass wood processing, wood acquisition, wood sales, sales of building decoration materials, retail of hardware products, sales of building materials, and information consulting services [1] - The business can operate independently based on its business license for non-licensed consulting services [1]