UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT
REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): April 30, 2015
ORIENT PAPER, INC.
(Exact name of registrant as specified in its charter)
Nevada
(State or other jurisdiction of incorporation)
| 001-34577 | 20-4158835 | |
| (Commission File Number) | (IRS Employer Identification No.) |
Science Park, Juli Road Xushui County, Baoding City Hebei Province, People’s Republic of China |
072550 | |
| (Address of principal executive offices) | (Zip Code) |
(86) 312-8698215
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
| Item 2.02 | Results of Operations and Financial Condition. |
On April 30, 2015, Orient Paper, Inc. (the “Company”) issued a press release announcing its unaudited preliminary financial results and certain operational results for the first quarter ended March 31, 2015. A copy of the press release making the announcement is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
The following exhibit is filed herewith:
| Exhibit Number | Description | |
| 99.1 | Press Release dated April 30, 2015, announcing unaudited preliminary financial results and certain operational results of the Company for the first quarter of 2015 |
| 2 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ORIENT PAPER, INC. | ||
| Date: May 1, 2015 | By: | /s/ Zhenyong Liu |
| Name: Zhenyong Liu | ||
| Title: Chief Executive Officer | ||
3
Exhibit 99.1
Orient Paper, Inc. Announces Unaudited Preliminary Results for the First Quarter 2015
BAODING, China, Apr. 30, 2015 /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 announced its unaudited preliminary results for the quarter ended March 31, 2015. The Company will file its Form 10-Q with the Securities and Exchange Commission and issue a press release announcing its full financial results for the first quarter ended March 31, 2015 after the market closes on May 13, 2015.
First Quarter 2015 Selected Unaudited Preliminary Financial Results Highlights
| 1Q15 | 1Q14 | Change | ||||||||||
| Revenue (US$ million) | 26.5 | 25.8 | 2.7 | % | ||||||||
| Sales volume (tonnes) | ||||||||||||
| - Regular Corrugating Medium Paper (“CMP”) * | 44,770 | 45,335 | -1.2 | % | ||||||||
| - Light-Weight CMP** | 8,501 | N/A | N/A | |||||||||
| - Offset Printing Paper | 9,874 | 10,860 | -9.1 | % | ||||||||
| Average selling price (“ASP”) /tonne (US$) | ||||||||||||
| - Regular Corrugating Medium Paper (“CMP”) * | $ | 369 | $ | 377 | -2.1 | % | ||||||
| - Light-Weight CMP** | $ | 376 | N/A | N/A | ||||||||
| - Offset Printing Paper | $ | 689 | $ | 678 | 1.6 | % | ||||||
| Gross profit (US$ million) | 5.0 | 4.7 | 6.4 | % | ||||||||
| Net income (US$ million) | 2.1 | 2.5 | -16.0 | % | ||||||||
| EPS (US$) | 0.10 | 0.14 | -28.6 | % |
*Products from PM6
**Products from the newly renovated PM1
Key Highlights for First Quarter 2015
| ● | Revenue up 2.7% YoY to $26.5 million and gross profit up 6.4% YoY to $5.0 million |
| ● | Net income down 16.0% YoY to $2.1 million due to increased SG&A spending related to expansion of tissue paper sales and operations |
| ● | Completed installation and launched trial production of tissue paper packaging equipment |
Mr. Zhenyong Liu, Chairman and Chief Executive Officer of Orient Paper, commented, “We are pleased to announce an increase in revenue for the first quarter, as revenue from our Light-Weight CMP product offset the decline in revenue from our digital photo paper production lines while we continue to make progress with their relocation. Additionally, we continue to move forward with our tissue paper production facility, as we launched trial production of the packaging lines in the first quarter, two months ahead of schedule. We remain very optimistic about the remainder of 2015 as we look forward to the introduction of our new tissue paper products and bringing our digital photo paper production back on line.”
Conference Call
Orient Paper's management will host a conference call to discuss its first quarter 2015 results at 8:00 am US Eastern Time (5:00 am US Pacific Time/8:00 pm Beijing Time) on Thursday, May 14, 2015, to discuss its first quarter results and recent business, operational and corporate activities.
To participate in the conference call, please dial the following number five to ten minutes prior to the scheduled conference call time:
| China: | 400-120-0654 |
| Hong Kong: | 800-906-606 |
| United States: | 1-855-500-8701 |
| International: | +65-6723-9385 |
| Passcode: | 3407 0256 |
A replay of this conference call will be available by dialing:
| China: | 400-632-2162 / 800-870-0205 |
| Hong Kong: | 800-963-117 |
| United States: | 1-855-452-5696 |
| International: | +61-2-9003-4211 |
| Passcode: | 3407 0256 |
The replay will be archived for fourteen days following the earnings announcement until May 28, 2015.
This conference call will be broadcast live over the Internet and can be accessed by all interested parties by clicking on http://www.orientpaperinc.com/. 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 replay will be archived for one year after the call.
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, Orient Paper produces and distributes three categories of paper products: corrugating medium paper, offset printing paper, and other paper products, including digital photo paper and tissue paper that the company is currently expanding into.
With production based in Baoding 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 products 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, please visit http://www.orientpaperinc.com)
For investor and media inquiries, please contact:
Investor and Media Contacts:
Orient Paper, Inc.
Email: ir@orientpaperinc.com
ICR, LLC
Bill Zima
Tel: +1 (203) 682-8200
Email: bill.zima@icrinc.com