Orient Paper, Inc. Pre-announces Unaudited Preliminary Financial Results for the Third Quarter 2017

Orient Paper, Inc. (NYSE MKT: ONP) (“Orient Paper” or the “Company”), a leading manufacturer and distributor of diversified paper products in North China, today pre-announced its unaudited preliminary results for the quarter ended September 30, 2017. The Company anticipates filing its quarterly report on Form 10-Q for the third quarter 2017 with the Securities and Exchange Commission and releasing its earnings after the market close on Thursday, November 9, 2017.

Zhenyong Liu, Chairman and Chief Executive Officer of Orient Paper, commented, “Our third quarter results largely reflected the impact of a government mandated temporary restriction on production volume that has been in place since November 2016. Total revenue decreased by 10.6% year over year to $33.5 million on the back of a 36.1% drop in overall volume that more than offset the increase in blended average selling prices. Looking ahead, we expect the newly elected Communist Party of China leaders to continue to promulgate rules and regulations on environmental protection that could lead to government-mandated temporary restriction or suspension on paper production from time-to-time, leading to significant changes in pricing and supply/demand balances.”
more detail at:  https://www.prnewswire.com/news-releases/orient-paper-inc-pre-announces-unaudited-preliminary-financial-results-for-the-third-quarter-2017-300549181.html

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