Company to Host Earnings Conference Call on
Monday, May 14, 2018, at 8:00 am ET
BAODING, China, May 7, 2018 /PRNewswire/ -- 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 financial results for the quarter ended
March 31, 2018. The Company
anticipates filing its quarterly report on Form 10-Q for the first
quarter 2018 with the Securities and Exchange Commission and
releasing its earnings after the market closes on Friday, May 11, 2018. The Company will host a
conference call to discuss its first quarter 2018 financial results
at 8:00 am Eastern Time (5:00 am
Pacific Time/ 8:00 pm Beijing
Time) on Monday, May 14, 2018.
Selected First Quarter 2018 Financial Results (Unaudited and
Preliminary)
|
|
For the
Three Months Ended March 31,
|
|
|
2018
|
|
2017
|
|
%
Change
|
Revenue
($M)
|
|
$1.9
|
|
$25.3
|
|
-92.5%
|
|
|
|
|
|
|
|
Sales volume
(tonnes)
|
|
|
|
|
|
|
Regular
Corrugating Medium Paper ("CMP")*
|
1,672
|
|
47,792
|
|
-96.5%
|
Light-Weight
CMP**
|
|
1,251
|
|
5,023
|
|
-75.1%
|
Tissue Paper
Products
|
|
0
|
|
558
|
|
-100.0%
|
Offset Printing
Paper
|
|
379
|
|
4,756
|
|
-92.0%
|
|
|
|
|
|
|
|
Average Selling
Price ($/tonne)
|
|
|
|
|
|
|
Regular
Corrugating Medium Paper ("CMP")*
|
$543
|
|
$407
|
|
33.4%
|
Light-Weight
CMP**
|
|
$521
|
|
$440
|
|
18.4%
|
Tissue Paper
Products
|
|
NM
|
|
$1,260
|
|
NM
|
Offset Printing
Paper
|
|
$867
|
|
$615
|
|
41.0%
|
|
|
|
|
|
|
|
Gross profit
(loss) ($M)
|
|
($0.7)
|
|
$5.7
|
|
-112.3%
|
Income (loss)
from operations ($M)
|
|
($4.5)
|
|
$2.9
|
|
-257.4%
|
Net income
(loss) ($M)
|
|
($4.1)
|
|
$1.7
|
|
-337.5%
|
Diluted
earnings (loss) per share ($)
|
|
($0.19)
|
|
$0.08
|
|
-337.5%
|
|
|
|
|
|
|
|
* Products
from PM6
|
|
|
|
|
|
|
** Products
from PM1
|
|
|
|
|
|
|
Mr. Zhenyong Liu, Chairman and
Chief Executive Officer of Orient Paper, commented, "Our
disappointing first quarter results reflected the impact of
temporary suspension of production due to government-mandated
restriction on the supply of natural gas that lasted for most of
the first quarter. However, production at our manufacturing
facilities has been back to normal since mid-March and we
anticipate a strong rebound in our business in the second
quarter."
Earnings Conference Call:
The Company's management will host a conference call to discuss
its first quarter 2018 financial results at 8:00 am US Eastern
Time (5:00 am US Pacific Time/
8:00 pm Beijing
Time) on Monday, May 14, 2018.
To attend the conference call, please dial-in using the
information below. When prompted upon dialing-in, please provide
the conference ID or ask for the "Orient Paper First Quarter 2018
Earnings Conference Call."
Conference
Call
|
|
Date:
|
Monday, May 14,
2018
|
Time:
|
8:00 am ET (5:00 am
US Pacific Time/ 8:00 pm Beijing Time)
|
International Toll
Free:
|
United States:
+1-855-500-8701
Mainland China:
400-120-0654
Hong Kong:
800-906-606
International:
+65-6713-5440
|
Conference
ID:
|
8354088
|
This conference call will be broadcast live over the Internet,
and can be accessed by all interested parties
at http://www.orientpaperinc.com/ or https://edge.media-server.com/m6/p/v6h3sapo.
Please access the link at least fifteen minutes prior to the
start of the call to register, download, and install any necessary
audio software.
A playback will be available through 9:59
ET May 22, 2018. To listen,
please dial +1-855-452-5696 if calling from the United States, or +61-290-034-211 if
calling internationally. Use the passcode 8354088 to access the
replay.
About Orient Paper, Inc.
Orient Paper, Inc. ("Orient Paper") is a leading paper
manufacturer in North China. Using
recycled paper as its primary raw material (with the exception of
its digital photo paper and tissue paper products), Orient Paper
produces and distributes three categories of paper products:
corrugating medium paper, offset printing paper and tissue paper
products.
With production based in Baoding and Xingtai in North China's Hebei
Province, Orient Paper is located strategically close to the
Beijing and Tianjin region, home to a growing base of
industrial and manufacturing activities and one of the largest
markets for paper product consumption in the country.
Orient Paper's production facilities are controlled and operated
by its wholly owned subsidiary Shengde Holdings, Inc., which in
turn controls and operates Baoding Shengde Paper Co., Ltd. and
Hebei Baoding Orient Paper Milling Co., Ltd.
Founded in 1996, Orient Paper has been listed on the NYSE MKT
under the ticker symbol "ONP" since December
2009. For more information about the Company, please visit
http://www.orientpaperinc.com.
Safe Harbor Statements
This press release may contain forward-looking statements.
These forward-looking statements involve inherent risks and
uncertainties that could cause actual results to differ materially
from those projected or anticipated, including risks outlined in
the Company's public filings with the Securities and Exchange
Commission, including the Company's latest annual report on Form
10-K. All information provided in this press release speaks as of
the date hereof. Except as otherwise required by law, the Company
undertakes no obligation to update or revise its forward-looking
statements.
For more information, please contact:
Company Contact:
Orient Paper, Inc.
Email: ir@orientpaperinc.com
Investor Relations:
Tony
Tian,
CFA
Weitian Group LLC
Email: tony.tian@weitian-ir.com
Phone: +1-732-910-9692
View original
content:http://www.prnewswire.com/news-releases/orient-paper-inc-pre-announces-unaudited-preliminary-financial-results-for-first-quarter-2018-300643874.html
SOURCE Orient Paper, Inc.