At least one VIE exists in the corporate structure
First Quarter 2017 Financial Results
"Our revenue decreased by 9.4% in the first quarter mainly as a result of a government mandated temporary restriction on production that has been in place since November 2016 that adversely affected our production and sales volume for light-weight corrugating medium paper ("CMP"), offset printing paper and tissue paper. However, margins and profitability improved significantly in the first quarter thanks to continued uptick in average selling price for regular CMP as well as decrease in operating expenses," said Zhenyong Liu, Chairman and Chief Executive Officer of Orient Paper. "While we continue to face the uncertainties of government mandated production restriction/suspension from time to time, we expect the overall price environment to remain relatively stable for the remainder of the year."
Web site: http://www.orientalpapercorporation.com/
Last updated May 11, 2017
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