| 1994 |
Sino-Forest
formed in Ontario; began plantation operations in China; entered into equity joint venture covering 20,000 hectares; revenues were approximately $20 million, net income $3 million, EPS $0.08, assets $30 million |
| 1995 |
Entered into co-operative joint ventures
(CJVs) covering 603,000 hectares; TRE.A shares began trading on the Toronto Stock Exchange; market capitalization approximately CAD$21 million |
| 1996 |
Raised CAD$30 million in equity financing to fund plantation development |
| 1997 |
Wood chip shipments surpassed one million bone-dry metric tons |
| 1998 |
Obtained ISO 9002 certification for Quality Management System at Guangxi CJV plantations; total assets surpass $100 million |
| 1999 |
Sino-Forest became an integrated forest-product supplier – began construction of particleboard mill in
Gaoyao, Guangdong; wood chip shipments reached two million bone-dry metric tons. |
| 2000 |
Total assets surpassed $200 million; launched Sustainable Development Leadership Program - bridging academic institutions in North America and China |
| 2002 |
Sales of standing timber made first significant contribution to revenues, which reached $200 million;
obtained ISO 14001 certification
for Environmental Management
System at Guangxi CJV
plantations |
| 2003 |
Total assets surpassed $400 million; converted six million multiple-voting shares into common shares |
| 2004 |
First
commercial operator in China to
receive Forest Stewardship
Council (FSC) Certification for
plantations located in Gaoyao, Guangdong province.
Raised $74 million in equity issue and $300 million from debt financing to fund future growth; plantation land under management surpassed 240,000 hectares; net income surpassed $50 million |
|
2005 |
Acquired 15% Mandra Forestry
Resources to manage plantation in
Anhui province; Appointed David
Horsley as SVP and CFO. |
|
2006 |
Entered into a master agreement to
secure 1.5 million cubic metres
annually of long-term wood fibre
supply over 12 years in the
Inner Mongolia Autonomous Region
by managing a programme of
secondary forests. Entered
into plantation acquisition
agreements in the third and
fourth quarter to acquire a
total of 400,000 hectares of
Chinese fir and pine over next
14 years in the Hunan Province.
Market capitalisation reached
US$1 billion. |
|
2007 |
Raised US$200 million of gross
proceeds in a strategic
placement to sell approximately
25.4 million common shares at
Cdn$9.15 per share to several
institutional investors,
including Temasek Holdings and
United Capital Investments
Group.
Entered into an agreement to
acquire approximately 200,000
hectares of non-state owned
commercial standing timber of
pine, oak, birch and broadleaved
shaw in the Yunnan Province over
a 10-year period.
Raised Cdn$201 million by
issuing 15.9 million common
shares at Cdn$12.65 per share
from Bought deal.
Entered
into a master agreement to
acquire approximately 150,000
hectares of non-state owned
commercial timber of Chinese fir
and pine trees in the Guangxi
Province over a 5-year period.
Market
capitalization reached US$3
billion. |
|
2008 |
Raised US$345 million from a
convertible notes that bears a
5% interest payable
semi-annually; notes to mature
on August 1, 2013.
Entered into a master agreement
to acquire 200,000 hectares of
non-state-owned plantation trees
for 10 years in Fujian Province. |
