Established in 1995, Nine Dragons Paper (Holdings) Limited ("ND Paper" or the "Company") (Stock Code: 2689) is the world's largest in environmentally friendly recovered paper based paper manufacturing in terms of production capacity. ND Paper and its subsidiaries (the "Group") primarily produce linerboard, including kraftlinerboard, testlinerboard and white top linerboard, high performance corrugating medium and coated duplex board. Its operations enable it to serve as a one-stop shop for a broad range of high quality packaging paperboard products. The Group's paper machines in China are mainly located in four locations, including Dongguan, Guangdong Province in the Pearl River Delta, Taicang, Jiangsu Province in the Yangtze River Delta region, Chongqing, regional hub for the Central-Western Provinces and Tianjin, at the center of the Bohai Economic Rim. It is also building a medium-sized paper production base in Quanzhou, Fujian Province. As for the northern and northern-eastern markets, a new production base near Shenyang is in the pipeline, and the Group has also acquired 78.13% controlling equity interest in Hebei Yongxin Paper Co., Ltd. ("Hebei Yongxin"). In addition to packaging paperboard, the Group is also engaged in the production of printing and writing paper in Dongguan and Taicang, the production of unbleached kraft pulp through a joint venture in Inner Mongolia and the production of high value specialty paper and pulp in Leshan, Sichuan.