Guanhao Hi-Tech said at the 2026 third quarter results briefing that the 400,000-ton pulp project is currently running smoothly and is in the phase of process run-in and production capacity climbing, and the company will achieve production results as soon as possible. Self-produced pulp can avoid external uncertainties such as fluctuations in international pulp prices and changes in shipping cycles, and mitigate cost fluctuations. In the medium to long term, the company will gradually reduce the procurement scale of imported machine pulp, scientifically mix the procurement ratio of pulp, maintain reasonable inventory, and enhance the autonomous and controllable ability of the raw material supply chain.

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