XML 86 R49.htm IDEA: XBRL DOCUMENT
v3.3.0.814

Loans Payable (Details) - USD ($) | Sep. 30, 2015 | Dec. 31, 2014
--- | --- | ---
Schedule of short-term bank loans |  |  |
Short-term bank loans |  | $ 6,288,022 | $ 9,805,524
Industrial & Commercial Bank of China (''ICBC'') Loan 1[Member] | Factoring Facility [Member] |  |  |
Schedule of short-term bank loans |  |  |
Short-term bank loans | [1] |  | 2,451,381
The Commercial Bank of the City of Zhangjiakou [Member] | Factoring Facility [Member] |  |  |
Schedule of short-term bank loans |  |  |
Short-term bank loans | [2] |  | 3,268,508
ICBC Loan 2 [Member] | Factoring Facility [Member] |  |  |
Schedule of short-term bank loans |  |  |
Short-term bank loans | [3] |  | 817,127
ICBC Loan 3 [Member] | Factoring Facility [Member] |  |  |
Schedule of short-term bank loans |  |  |
Short-term bank loans | [4] | $ 3,144,011 | $ 3,268,508
ICBC Loan 4 [Member] | Factoring Facility [Member] |  |  |
Schedule of short-term bank loans |  |  |
Short-term bank loans | [5] | $ 3,144,011 |
[1] | On June 26, 2014, the Company obtained an accounts receivable factoring facility from the ICBC for $2,451,381 as of December 31, 2014. Under the factoring agreement, the bank has recourse against the Company if the receivables, which remain in the Company's books at all times, are not fully collected. The factoring facility was expired on June 24, 2015 and bore an interest rate of 110% of the primary lending rate of the People's Bank of China and was at 6.6% per annum at the time of funding. The Company paid off the principal balance and interest by June 24, 2015. Concurrent with the signing of the new factoring agreement, the Company also entered into a financial service agreement with the ICBC, which provides accounts receivable management services to the Company during the terms of the underlying factoring facility
[2] | On June 9, 2014, the Company obtained from the Commercial Bank of the City of Zhangjiakou a banking facility on bank loans and notes payable, which is guaranteed by the Company's CEO and Shijiazhuang Baode Guarantee Service Company. In obtaining the guarantee from Shijiazhuang Baode Guarantee Service Company, Hebei Tengsheng Paper Co. Ltd ("Hebei Tengsheng"), a third party which owns the land use rights of about 330 acres (or 1.33 million square meters) of land in the Wei County and leases about one-fourth of the premises to Orient paper HB as our production bases of tissue paper and other future facilities, and an independent third party provided a guarantee with the land use rights and buildings pledged by Hebei Tengsheng as collateral. On July 18, 2014, the Company entered into a working capital loan agreement with the bank for $3,268,508 as of December 31, 2014. The loan was repaid subsequently on July 16, 2015 and bore a fixed interest rate of 11.88% per annum.
[3] | On August 19, 2014, the Company obtained an accounts receivable factoring facility from the ICBC for $817,127 as of December 31, 2014. Under the factoring agreement, the bank has recourse against the Company if the receivables, which remain in the Company's books at all times, are not fully collected. The factoring facility was expired on June 10, 2015 and bore an interest rate of 110% of the primary lending rate of the People's Bank of China and was at 6.6% per annum at the time of funding. The Company paid off the principal balance and interest by June 10, 2015.
[4] | On November 20, 2014, the Company entered into a working capital loan agreement with the ICBC for$3,144,011 and $3,268,508 as of September 30, 2015 and December 31, 2014, respectively. The loan bears an interest rate of 110% over the primary lending rate of the People's Bank of China and was at 6.16% per annum at the time of funding. The loan will be repayable on December 3, 2015. The working capital loan was guaranteed by Hebei Tengsheng with its land use right and real estates pledged by Hebei Tengsheng as collateral for the benefit of the bank.
[5] | On September 7, 2015, the Company entered into a working capital loan agreement with the ICBC for $3,144,011 as of September 30, 2015. The loan bears an interest rate of 110% over the primary lending rate of the People's Bank of China and was at 5.06% per annum at the time of funding. The loan will be repayable on September 6, 2016. The working capital loan was guaranteed by Hebei Tengsheng with its land use right and real estates pledged by Hebei Tengsheng as collateral for the benefit of the bank.

X
- Definition Carrying amount at the balance sheet date of borrowings from a bank, not elsewhere enumerated in the taxonomy, with a maturity within one year (or within one operating cycle if longer) from the date of borrowing. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.16) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(a)(1)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_ShortTermBankLoansAndNotesPayable
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- References No definition available. + Details
Name: | us-gaap_ShortTermBorrowingsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_ShortTermDebtTypeAxis=onp_IndustrialAndCommercialBankOfChinaFacilityOneMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=onp_FactoringFacilityMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_ShortTermDebtTypeAxis=onp_CommercialBankOfTheCityOfZhangjiakouMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_ShortTermDebtTypeAxis=onp_IndustrialAndCommercialBankOfChinaFacilitySixMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_ShortTermDebtTypeAxis=onp_IndustrialAndCommercialBankOfChinaFacilitySevenMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_ShortTermDebtTypeAxis=onp_IndustrialAndCommercialBankOfChinaFacilityEightMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |