Nanwang Technology has reduced the investment for its annual production capacity of 3.8 billion eco-friendly paper products project from 500 million yuan to 300 million yuan, and postponed the expected date of reaching usable condition from June 30, 2026 to September 30, 2026. The company stated that the recovery of end-market demand in the industry has fallen short of expectations, and the original equipment procurement and investment pace does not match the current market environment, hence it is slowing down procurement and scaling back the investment. As of July 10, 2026, the cumulative amount of raised funds invested in the project, the investment progress, and the amount not yet invested have been disclosed in an announcement. Nanwang Technology is mainly engaged in eco-friendly paper bags, food packaging, and other products. In 2025, its revenue was 1.759 billion yuan, up 25.60 percent year-on-year, but it recorded a net loss attributable to the parent company of 26.4315 million yuan. In the first quarter of 2026, net profit attributable to the parent company was 1.9065 million yuan, down 73.39 percent year-on-year, and its share price has fallen 27.3 percent so far this year.
Fujian Nanwang Environment Protection Scien-Tech Co. Ltd. ACompany cuts project investment and extends deadline due to end-market demand recovery falling short of expectations.