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<SEC-DOCUMENT>0001145443-10-000266.txt : 20100211
<SEC-HEADER>0001145443-10-000266.hdr.sgml : 20100211
<ACCEPTANCE-DATETIME>20100211145924
ACCESSION NUMBER:		0001145443-10-000266
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20100210
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Termination of a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20100211
DATE AS OF CHANGE:		20100211

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Orient Paper Inc.
		CENTRAL INDEX KEY:			0001358190
		STANDARD INDUSTRIAL CLASSIFICATION:	CONVERTED PAPER & PAPERBOARD PRODS (NO CONTAINERS/BOXES) [2670]
		IRS NUMBER:				204158835
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0228

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34577
		FILM NUMBER:		10591431

	BUSINESS ADDRESS:	
		STREET 1:		SUITE 100
		STREET 2:		202 NORTH CURRY STREET
		CITY:			CARSON CITY
		STATE:			NV
		ZIP:			89703-4121
		BUSINESS PHONE:		(775) 321-8243

	MAIL ADDRESS:	
		STREET 1:		SUITE 100
		STREET 2:		202 NORTH CURRY STREET
		CITY:			CARSON CITY
		STATE:			NV
		ZIP:			89703-4121

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CARLATERAL, INC.
		DATE OF NAME CHANGE:	20060403
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<TYPE>8-K
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>UNITED STATES</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>SECURITIES AND EXCHANGE COMMISSION</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>WASHINGTON, DC </font></B><font size=2>&nbsp;</font><b><font size=2>20549</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>FORM 8-K</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font SIZE=2>CURRENT REPORT</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Pursuant to Section 13 or 15(d) of the</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Securities Exchange Act of 1934</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Date of report (Date of earliest event reported): &nbsp;February 10, 2010</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><U><B><font SIZE=2>ORIENT PAPER, INC.</font></B></U></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Exact Name of Registrant as Specified in Charter)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" ALIGN="CENTER">
<TR VALIGN="BOTTOM">
     <TD WIDTH="35%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B><U>Nevada</U></B></FONT></FONT></TD>
     <TD WIDTH="3%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH="25%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B><U>001-34577</U></B></FONT></FONT></TD>
     <TD WIDTH="3%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD WIDTH="35%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="2"><B><U>20-4158835</U></B></FONT></FONT></TD>
     <TD WIDTH="2%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(State or Other Jurisdiction</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(Commission File Number)</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">(IRS Employer</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">of Incorporation)</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Identification No.)</FONT></TD><TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">&nbsp;</FONT></TD>
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<TR VALIGN="BOTTOM">
     <TD ALIGN="CENTER">&nbsp;</TD><TD></TD>
     <TD></TD><TD></TD>
     <TD></TD><TD></TD>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0in;line-height:normal'><b><font size=2>Nansan Gongli, Nanhuan Road</font></b></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0in;line-height:normal'><b><font size=2>Xushui County, Baoding City</font></b></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0in;line-height:normal'><b><font size=2>Hebei Province, The People&#146;s Republic of China 072550</font></b></p> </td> </tr>
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        <TD VALIGN="TOP">
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0in;line-height:normal'><font size=2>(Address of Principal Executive Offices)</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Registrant's telephone number, including area code: &nbsp;</font><b><font size=2>011</font></b><font color="#FF0000"><b><font size=2> </font></b></font><b><font size=2>- (86) 312-8605508</font></b><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>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 ( </font><i><font size=2>see</font></i><font size=2> General Instruction A.2. below):</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font face=Wingdings>o</font><font size=2> &nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font face=Wingdings>o</font><font size=2> &nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font face=Wingdings>o</font><font size=2> &nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font face=Wingdings>o</font><font size=2> &nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>




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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0in;line-height: normal'><b><font size=2>Item 1.01</font></b></p> </td>
        <td width="267" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0in;line-height: normal'><b><font size=2>Entry into a Material Definitive Agreement</font></b></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>The information set forth in Item 1.02 below is incorporated herein by reference in its entirety.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0in;line-height: normal'><b><font size=2>Item 1.02</font></b></p> </td>
        <td width="293" nowrap valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0in;line-height: normal'><b><font size=2>Termination of a Material Definitive Agreement</font></b></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.42in;text-align:left;'><font size=2>On June 24, 2009, Orient Paper, Inc.&#146;s (the &#147;Company&#148;) indirect wholly-owned foreign subsidiary, Baoding Shengde Paper Co., Ltd. (&#147;Baoding Shengde&#148;) entered into a loan agreement with Zhenyong Liu, Shuangxi Zhao, and Xiaodong Liu (collectively, the &#147;Shareholders&#148;), the shareholders of the Company&#146;s PRC operating entity, Heibei Baoding Orient Paper Milling Company Limited (&#147;HBOP&#148;).  The loan agreement provided that Baoding Shengde will make a loan in the aggregate principal amount of $10,000,000 to the Shareholders, each Shareholder receiving a share of the loan proceeds proportional to its shareholding in HBOP, and in exchange each Shareholder agreed to contribute all of its proceeds from the loan to the registered capital of HBOP in order to meet the registered capital requirements for HBOP. The loan was repayable at the option of Baoding
Shengde either in cash or by other means as to be decided by Baoding Shengde and did not bear interest and had a term of 10 years. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.42in;text-align:left;'><font size=2>Due to foreign exchange restrictions under the current foreign exchange laws in China, Baoding Shengde was not able to convert foreign currency to Renminbi to fulfill its obligations under the aforementioned loan agreement. Therefore, on February 10, 2010, Baoding Shengde and each of Shareholders entered into a Termination of Loan Agreement to terminate the aforementioned loan agreement without any liability to any of the parties.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.41in;text-align:left;'><font size=2>Also on February 10, 2010, Baoding Shengde, HBOP and each of Shareholders entered into an Amendment to the Call Option Agreement and an Amendment to the Share Pledge Agreement, both originally dated June 24, 2009, to remove references to the aforementioned loan agreement. In addition, the original share pledge agreement was amended to provide that, Baoding Shengde, as pledgee, will be entitled to dispose of the pledged assets in the event that any of the Shareholders or HBOP fails to pay exclusive technology consulting service fee in accordance with that certain Exclusive Technology and Business Consulting Services Agreement, dated June 24, 2009, or fails to perform such party&#146;s other obligations under the Principal Agreement (as defined therein).  To correct a clerical error, the Amendment to the Call Option Agreement also added  Baoding Shengde as a party and signatory to the Call
Option Agreement. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>The foregoing summaries of the Termination of Loan Agreement, the Amendment to Call Option Agreement and the Amendment to Share Pledge Agreement are qualified in their entirety by reference to the actual Termination of Loan Agreement, the Amendment to Call Option Agreement and the Amendment to Share Pledge Agreement which are filed as exhibits 10.1, 10.2, and 10.3, respectively, hereto.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:10pt; margin-top:0pt;text-align:left;line-height:115%;'><b><font size=2>Item 9.01</font></b><font size=2>&nbsp;</font><b><font size=2>Financial Statements and Exhibits.</font></b></p>

<p style=' margin-bottom:10pt; margin-top:0pt;text-align:left;line-height:115%;'><font size=2>(d)&nbsp;Exhibits.</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:10pt;line-height:124.199997425079%'><font size=2>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:10pt;line-height:124.199997425079%'><font size=2>10.1</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:10pt;line-height:124.199997425079%'><font size=2>10.2</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:10pt;line-height:124.199997425079%'><font size=2>10.3</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:10pt;line-height:124.199997425079%'><font size=2>Termination of Loan Agreement, dated February 10,     2010</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:10pt;line-height:124.199997425079%'><font size=2>Amendment to Call Option Agreement, dated February 10,     2010</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:10pt;line-height:124.199997425079%'><font size=2>Amendment to Share Pledge Agreement, dated February 10,     2010</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><font size=2>&nbsp;</font></p>



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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=2>SIGNATURES</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>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.</font></p>

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            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom: 0in;line-height:normal'><font size=2>&nbsp;</font></p> </td>
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            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom: 0in;line-height:normal'><font size=2>Date: February 11    , 2010</font></p> </td> </tr>
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            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom: 0in;line-height:normal'><font size=2>&nbsp;</font></p> </td>
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            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom: 0in;line-height:normal'><font size=2>&nbsp;</font></p> </td> </tr>
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            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom: 0in;line-height:normal'><font size=2>&nbsp;</font></p> </td>
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            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom: 0in;line-height:normal'><font SIZE=2>ORIENT PAPER, INC.</font></p> </td> </tr>
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            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom: 0in;line-height:normal'><font size=2>&nbsp;</font></p> </td>
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            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom: 0in;line-height:normal'><font size=2>&nbsp;</font></p> </td>
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            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom: 0in;line-height:normal'><font size=2>&nbsp;</font></p> </td> </tr>
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            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom: 0in;line-height:normal'><font size=2>&nbsp;</font></p> </td>
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            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom: 0in;line-height:normal'><font size=2>By:&nbsp;&nbsp;</font></p> </td>
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            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom: 0in;line-height:normal'><font size=2>/s/ Zhenyong Liu</font>                </p> </td> </tr>
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            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom: 0in;line-height:normal'><font size=2>&nbsp;</font></p> </td>
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            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom: 0in;line-height:normal'><font size=2>Zhenyong Liu</font></p> </td> </tr>
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            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom: 0in;line-height:normal'><font size=2>&nbsp;</font></p> </td>
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            <p style='margin-left:0in;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom: 0in;line-height:normal'><font size=2>Chief Executive Officer</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;line-height: 150%;'><B><font SIZE=2>TERMINATION AGREEMENT OF LOAN AGREEMENT</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height: 150%;'><font size=2>This Termination agreement of Loan Agreement (the &#147;Agreement&#148;) is entered into in Baoding as of February 10, 2010 by the following parties. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><b><font size=2>Party A:</font></b><font size=2> Baoding Shengde Paper Co., Ltd</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>Registration Address: Nanwaihuan Road, Xushui County, Hebei Province, China</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><b><font size=2>Party B: </font></b><font size=2>Liu Zhenyong</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font SIZE=2>ID:13062519630822311X</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>Address:Liuzhuang, Cuizhuang Town, Xushui County, Hebei Province</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><b><font size=2>Party C:</font></b><font size=2> Zhao Shuangxi</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font SIZE=2>ID:13242319640606005X</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>Address:Hujiaying, Liucun Town, Xushui County, Hebei Province</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.29in;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><b><font size=2>Party D: </font></b><font size=2>Liu Xiaodong</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font SIZE=2>ID:132423197408117114</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>Address:#113, No 268, Chaoyang South Avenue, Xinshi District, Baoding City, Hebei Province</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height: 150%;'><font size=2>Party A, B, C and D are referred to as &#147;each party&#148; and &#147;parties&#148; collectively.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height: 150%;'><b><font size=2>The Parties have entered into Loan Agreement on the June 24<sup>th</sup>, 2009. The parties hereby agree to terminate the Loan Agreement and none of the parties shall be held liable to the other parties.</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;line-height: 150%;'><font size=2>[No text below]</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.17in; text-indent:-0.17in;text-align:justify;line-height: 150%;'><font size=2>[Signature Page] </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><b><font size=2>Party A:</font></b><font size=2> Baoding Shengde Paper Co., Ltd</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>(seal)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height: 150%;'><font size=2>Signature: /s/Liu Zhenyong</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height: 150%;'><font size=2>Name: Liu Zhenyong</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height: 150%;'><font size=2>Legal&nbsp;Representative/Authorized&nbsp;Representative</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height: 150%;'><b><font size=2>Party B: Liu Zhenyong</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height: 150%;'><font size=2>Signature: /s/Liu Zhenyong</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height: 150%;'><b><font size=2>Party C</font></b><font size=2>: Zhao Shuangxi</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height: 150%;'><font size=2>Signature</font><b><font size=2>: </font></b><font size=2>/s/Zhao Shuangxi</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height: 150%;'><b><font size=2>Party D: Liu Xiaodong</font></b><font size=2> </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height: 150%;'><font size=2>Signature</font><b><font size=2>:</font></b><font size=2> /s/Liu Xiaodong</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Call Option Agreement</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Amendment</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>This Amendment (the &#147;Agreement&#148;) is made by the following parties in Baoding, the People&#146;s Republic of China (&#147;China&#148;) ,on February 10, 2010.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
    <tr >
        <td width="28" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>1.</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Liu Zhenyong</font></b></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.29in;text-align:justify;'><font SIZE=2>ID:13062519630822311X</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.29in;text-align:justify;'><font size=2>Address:Liuzhuang, Cuizhuang Town, Xushui County, Baoding City, China (&#147;Party A&#148;)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
    <tr >
        <td width="28" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>2.</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Zhao Shuangxi</font></b></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.29in;text-align:justify;'><font SIZE=2>ID:13242319640606005X</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.29in;text-align:justify;'><font size=2>Address:Hujiaying, Liucun Town, Xushui County, Baoding City, China (&#147;Party B&#148;)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.29in;text-align:justify;'><font size=2>&nbsp;</font></p>


<div align=left>

<table border="0" cellspacing=0 cellpadding=0 width="100%" style='margin-left:0pt;border-collapse:collapse'>
    <tr >
        <td width="28" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><font size=2>3.</font></p> </td>
        <td  valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Liu Xiaodong</font></b></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.29in;text-align:justify;'><font SIZE=2>ID:132423197408117114</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.29in;text-align:justify;'><font size=2>Address:#113, No 268, Chaoyang South Avenue, Xinshi District, Baoding City, China (&#147;Party C&#148;)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font SIZE=2>AND</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>4. Hebei Baoding Orient Paper Milling Co., Ltd, a liability limited company incorporated in Baoding whose registered offices are located at Wuji Village, Xushui County,Hebei Province, China (&#147;Orient Paper&#148;)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>5. Baoding Shengde Paper Co., Ltd, a liability limited company incorporated in Nanwaihuan Road, Xushui County, Hebei Province, China (&#147;Shengde Paper&#148;)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>Orient Paper, Shengde Paper, Party A, Party B and Party C are hereinafter collectively referred to as the &#147;PARTIES&#148; and individually as a &#147;PARTY&#148;)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>The Parties have entered into Call Option Agreement on June 24<sup>th</sup>, 2009. Due to a clerical error, Shengde Paper was left out as a party and signatory to the Call Option Agreement. The parties hereby agree to amend the Call Option Agreement by (i)&nbsp;including Shengde Paper as a Party and signatory, and (ii) deleting the definition &#147;Loan Agreement&#148; from article 1 of the Call Option Agreement.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>The Call Option Agreement, as amended hereby, shall remain in full force and effect.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;line-height: 150%;'><font size=2>[No text below]</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height: 150%;'><font size=2>[Signature Page] </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><b><font size=2>Liu Zhenyong</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>Signature:/s/Liu Zhenyong</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><b><font size=2>Zhao Shuangxi</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>Signature:/s/Zhao Shuangxi</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><b><font size=2>Liu Xiaodong</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>Signature: /s/Liu Xiaodong</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>Hebei Baoding Orient Paper Milling Co., Ltd</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>(seal)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>Signature:/s/Liu Zhenyong</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>Name:Liu Zhenyong </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height: 150%;'><font size=2>Legal&nbsp;Representative/Authorized&nbsp;Representative</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>Baoding Shengde Paper Co., Ltd</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>(seal)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>Signature:/s/Liu Zhenyong</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>Name:Liu Zhenyong </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height: 150%;'><font size=2>Legal&nbsp;Representative/Authorized&nbsp;Representative</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;line-height:115%;'><B><font SIZE=2>SHARE PLEDGE AGREEMENT</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;line-height:115%;'><b><font size=2>Amendment</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.18in;text-align:justify;line-height:115%;'><font size=2>This Amendment to Share Pledge Agreement (hereinafter &#147;this Agreement&#148;) is entered into in Baoding on the day of February 10, 2010 by the following parties:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.29in;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.18in;text-align:justify;line-height:115%;'><b><font size=2>Party A:Baoding Shengde Paper Co. Ltd(hereafter referred to as&#147;Pledgee&#148;)</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.18in;text-align:justify;line-height:125%;'><font size=2>Address:Nanwaihuan Road, Xushui County, Hebei Province, China</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.18in;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.18in;text-align:justify;line-height:115%;'><b><font size=2>Party B:(hereafter referred to as &#147;Pledgor&#148;)</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.29in;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.18in;text-align:justify;'><b><font size=2>Liu Zhenyong</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.18in;text-align:justify;'><font SIZE=2>ID:13062519630822311X</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.18in;text-align:justify;'><font size=2>Address:Liuzhuang, Cuizhuang Town, Xushui County, Hebei Province</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.18in;text-align:justify;'><b><font size=2>Zhao Shuangxi</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.18in;text-align:justify;'><font SIZE=2>ID:13242319640606005X</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.18in;text-align:justify;'><font SIZE=2>Address:Hujiaying, Liucun Town, Xushui County, Hebei Province</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.29in;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.18in;text-align:justify;'><b><font size=2>Liu Xiaodong</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.18in;text-align:justify;'><font SIZE=2>ID:132423197408117114</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.18in;text-align:justify;'><font SIZE=2>Address:#113, No 268, Chaoyang South Avenue, Xinshi District, Baoding City, Hebei Province</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.18in;text-align:justify;line-height:125%;'><b><font size=2>Party C:</font></b><font size=2>Hebei</font><b><font size=2> </font></b><font size=2>Baoding Orient Paper Milling Co., Ltd</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.18in;text-align:justify;'><font size=2>Address:Wuji Village, Xushui County,Hebei Province, China</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height:125%;'><b><font size=2>The Parties have entered into Share Pledge Agreement on June 24<sup>th</sup>, 2009. The parties hereby agree to amend the Share Pledge Agreement as follows:</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height:125%;'><b><font size=2>1.</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><b><font size=2>All references to &#147;Loan Agreement&#148; in Whereas Clause 4 and article 1.3 of the Share Pledge Agreement are hereby deleted.</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height:125%;'><b><font size=2>2.</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><b><font size=2>Article 3.2 is hereby amended in its entirety to read as follows:</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.46in;text-align:justify;line-height:125%;'><b><font size=2>During the term of the Pledge, the Pledgee shall be entitled to dispose of the pledged </font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.33in;text-align:justify;'><font size=2>&nbsp;</font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.33in;text-align:justify;'><font size=2>&nbsp;</font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.46in;text-align:justify;line-height:125%;'><b><font size=2>assets in accordance with this Agreement in the event that Pledgor or </font></b><font size=2>Hebei</font><b><font size=2> </font></b><font size=2>Baoding Orient Paper Milling Co., Ltd</font><b><font size=2> fails to pay exclusive technology consulting service fee in accordance with the Exclusive Technology and Business Consulting Services Agreement or fails to perform such Party&#146;s other obligation under the Principal Agreement.</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.33in;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height:125%;'><b><font size=2>3.</font></b><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><b><font size=2>Article 8.4 is hereby amended by deleting the words &#147;under the Loan Agreement&#148; from the second line.</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height:125%;'><font size=2>The Share Pledge Agreement, as amended hereby, shall remain in full force and effect.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;line-height: 150%;'><font size=2>[No text below]</font></p>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height: 150%;'><font size=2>[Signature Page] </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height:125%;'><font size=2>Baoding Shengde Paper Co., Ltd</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height:125%;'><font size=2>(seal)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height:125%;'><font size=2>Signature:/s/Liu Zhenyong</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height:125%;'><font size=2>Name:Liu Zhenyong</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height: 150%;'><font size=2>Legal&nbsp;Representative/Authorized&nbsp;Representative</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height:125%;'><b><font size=2>Liu Zhenyong</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height:125%;'><font size=2>Signature:/s/Liu Zhenyong</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height:125%;'><b><font size=2>Zhao Shuangxi</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height:125%;'><font size=2>Signature:/s/Zhao Shuangxi</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height:125%;'><b><font size=2>Liu Xiaodong</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height:125%;'><font size=2>Signature:/s/Liu Xiaodong</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height:125%;'><font size=2>Hebei Baoding Orient Paper Milling Co., Ltd</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height:125%;'><font size=2>(seal)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height:125%;'><font size=2>Signature:/s/Liu Zhenyong</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height:125%;'><font size=2>Name:Liu Zhenyong</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;line-height: 150%;'><font size=2>Legal&nbsp;Representative/Authorized&nbsp;Representative</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

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