- Business
- Zhongfu Straits (Pingtan) Development Company Limited engages primarily in afforestation, forest management, and the processing and sale of forest products in China and internationally; its core offerings include seedling cultivation, tree planting and forest seedling products, medium and high density fiberboard ranging from 1-40mm, timber trading, logs, pulp and pulp-related products, tobacco fertilizers for tobacco companies, as well as landscaping, pawnbroking, microloans, and infrastructure construction related to the Pingtan Comprehensive Experimental Zone's open development. The company operates mainly in Fujian Province with a focus on the forestry industry and Pingtan development projects, targeting tobacco firms, construction sectors, and regional trade markets. Founded in 1993 and headquartered in Fuzhou, China, it listed on the Shenzhen Stock Exchange in 1996, formerly known as Fujian Zhongfu Industries Co., Ltd. before changing its name in May 2014; it holds honors as a Fujian provincial key leading enterprise in agriculture and forestry industrialization. Recent developments include an equity buyback plan announced on July 1, 2024, under which the company repurchased 37,776,600 shares representing 1.96% of its capital for CNY 56.19 million by October 2024, alongside multiple stock trading suspension requests in November 2025 amid severe price fluctuations exceeding 250% cumulatively, with no reported changes to core operations, partnerships, or acquisitions.