Orient Paper’s revenue increased to USD 137 million in FY 2014, a 9 percent growth compared to revenue generated in 2013.
"Due to solid execution in ramping up our Regular CMP production line and market acceptance of our new Light-Weight CMP product, we increased revenue by 9 percent from 2013. We achieved this growth despite production interruptions created by various government mandates related to zoning in Xushui and the APEC Summit in November,” said, Zhenyong Liu, Chairman and CEO, Orient Paper.
The government mandates impacted Orient’s production in the fourth quarter of 2014. As a result, the company’s revenue in the fourth quarter dipped 7.1 percent to USD 32.7 million. Also, the gross profit decreased 22.1 percent to USD 5.6 million.
"In 2015 we anticipate several positive influences on our business. We expect CMP pricing to stabilize or even improve, since more small-scale manufacturers will be forced to shut down obsolete production lines, reducing overall industry capacity. We expect sales of our new Light-Weight CMP to continue to increase. The production of household tissue paper and digital photo paper are scheduled to begin in the second half of 2015," added Liu.
